Minerals 260 Limited · ASX:MI6
Minerals 260 — Investor Presentation (February 2025)
45 slides from Minerals 260's investor presentation, Feb 28, 2025
Slide 1: Bullabulling Gold Project Acquisition and Equity Raising Presentation
ASX: MI6 February 2025 Bullabulling Gold Project Acquisition and Equity Raising Presentation • One of Australia’s largest undeveloped gold projects in a world class location • Equity raising to support acquisition and advance the Project Not for release to US wire services or distribution in the Uni
Slide 2: Important Notes and Disclaimer
Important Notes and Disclaimer Overview presentation and there is no statement in this presentation that is based on any statement by any other party. No person, either as This presentation contains summary information about Minerals 260 Limited (ACN 650 766 911) (Company) and is current as of a dir
Slide 3: Important Notes and Disclaimer
Important Notes and Disclaimer Not an offer of securities This presentation does not constitute an offer to sell, or a solicitation of an offer to buy any securities in any jurisdiction. The distribution of this presentation and the offer of securities is restricted in jurisdictions outside Australi
Slide 4: Proposed Transaction and Public Offer Overview
Proposed Transaction and Public Offer Overview Minerals 260 is raising up to A$220 million to fully fund the Proposed Transaction and provide working capital to progress the Project Transaction Equity Raise • Minerals 260 Limited (MI6) has executed binding documentation to • MI6 is undertaking an of
Slide 5: Bullabulling Gold Project Investment Highlights
Bullabulling Gold Project Investment Highlights Bullabulling Gold Project Location Significantly De-Risked Asset with Exceptional Potential for Growth One of the largest 2.3Moz RPEEE Mineral undeveloped open- Resource1 contained within pittable gold deposits in granted mining leases Australia ~12,00
Slide 6: Minerals 260 is Led by an Experienced and Proven Team
Minerals 260 is Led by an Experienced and Proven Team Board and Key Management Tim Luke Emma David Stacey Jamie Goyder McFadyen Scotney Richards Apostolou Armes Non-Executive Managing Director Non-Executive Non-Executive Non-Executive CFO and Company Chairman Director Director Director Secretary +48
Slide 7: One of the Largest Recent Gold Project Acquisitions
One of the Largest Recent Gold Project Acquisitions Precedent M&A – Mineral Resource (koz) for West Australian Pre-Production Gold Assets (over the last 5 Years)1 13,584 3,073 2,300 2,083 1,684 1,339 3 1,002 960 927 Median Resource (Excluding MI6): 769 610 571 505 356 346 318 276 196 Acquirer Youanm
Slide 8: Fundamentals Supporting Attractive Gold Price Outlook
Fundamentals Supporting Attractive Gold Price Outlook Outlook Gold Price (A$/oz)1 A$/oz Current spot price of ~A$4,600/oz 5,000 Record prices anticipated (As at 21 February 2025) to remain Goldman Sachs, Citi and UBS forecasting gold prices to reach US$3,000/oz to 4,500 US$3,200/oz in 20252 4,000 Gr
Slide 9: Project Overview
Project Overview
Slide 10: Bullabulling is Located in Western Australia
Bullabulling is Located in Western Australia, One of the World’s Premier Mining Locations Australian Gold Resources5 Attractive Jurisdiction for Mining Significant Resources Investment • One of the most attractive jurisdictions for • The leading jurisdiction for exploration mining investment globall
Slide 11: Rare Large-Scale Australian Gold Project Opportunity
Rare Large-Scale Australian Gold Project Opportunity Bullabulling Gold Project Project Summary Location • ~25km from Coolgardie, ~65km from Kalgoorlie Ownership • 100% MI6 (upon Completion of the Proposed Transaction) Tenure and • Mineral Resources situated within granted mining leases Access • Nati
Slide 12: Significant Historical Exploration and Development Work Completed
Significant Historical Exploration and Development Work Completed Supporting an Accelerated Drilling, Study and Permitting Phase1 Tenure and Previous Drilling3 Major Phases of Exploration and Development Average Gold Period Exploration and Development Activity Completed Price (A$/oz)2 1974 – 1982 •
Slide 13: One of Australia's Largest Potential Near-Term Production Gold Projects
One of Australia’s Largest Potential Near-Term Production Gold Projects Bullabulling resource showing resource grades Bullabulling RPEEE Mineral Resource (JORC 2012)1 Category Tonnes Grade Contained Mt g/t Au Moz Au Indicated 39 1.1 1.4 Inferred 21 1.3 0.9 Total 60 1.2 2.3 1 Bullabulling Mineral Res
Slide 14: ~12,000 Holes for ~530,000m of Drilling Completed
~12,000 Holes for ~530,000m of Drilling Completed Supports an Accelerated Study and Potential Near-Term Production Target Bullabulling resource showing resource classifications and historic pit shells1 1 Bullabulling Mineral Resource Estimate (Snowden Optiro, December 2024). 0.5g/t Au cut-off grade
Slide 15: Resource Remains Open at Depth and Along Strike
Resource Remains Open at Depth and Along Strike Bullabulling representative long section showing modelled gold mineralisation and historical and $3,000 pit depths1 1 Bullabulling Mineral Resource Estimate (Snowden Optiro, December 2024). 0.5g/t Au cut-off grade and $3,000 pit shell. Tonnages, grades
Slide 16: Bullabulling Mineralisation
Bullabulling Mineralisation Modelled Gold Grades and Drill Hole Traces Phoenix Cross Section Bacchus Cross Section Gold mineralisation at Bullabulling is associated with a continuous sequence of amphibolite ranging from hornblende-rich to quartz-rich overlying an ultramafic unit. Two styles of gold
Slide 17: Exploration Potential and Growth Opportunities
Exploration Potential and Growth Opportunities Several priority areas have been identified and will be the focus of initial drilling Bullabulling Exploration Areas Resource Extensions • Mineral Resource is open at depth at various locations, including potential for further stacked mineralised lodes
Slide 18: Exploration Potential and Growth Opportunities
Exploration Potential and Growth Opportunities Higher grade Kraken deposit and Gibraltar are high priority exploration areas Kraken – Gibraltar prospect trend and previous drill hole coverage Minerals 260 Limited 18
Slide 19: Drilling Results, Resource Update and Accelerated Study
Drilling Results, Resource Update and Accelerated Study to Increase Value and De-Risk the Project Over the Next 3 Years Indicative Development Plan1 Historical Work Accelerated drilling, study and permitting phases 2025 2026 2027 2028 enabled by significant work already done, including: Proposed Tra
Slide 20: Minerals 260 Value Proposition
Minerals 260 Value Proposition Acquisition puts Minerals 260 on the path to becoming a leading mid-tier ASX mining company 2.3Moz Bullabulling Gold Project – one of Australia’s largest Transformational Acquisition undeveloped gold projects in the world class location of WA Located at depth and along
Slide 21: Equity Raise Details
Equity Raise Details
Slide 22: Equity Raising Overview
Equity Raising Overview • The Company is seeking to raise a minimum of A$200,000,000 (before costs) (Minimum Subscription) and a maximum of A$220,000,000 (before costs) (Maximum Subscription) through an offer of a minimum of 1,666,666,667 Shares and a maximum of 1,833,333,333 Shares at an issue pric
Slide 23: Sources and Uses of Funds
Sources and Uses of Funds Minimum Maximum Source of Funds (A$m) Transaction Payment and Stamp Duty Subscription Subscription Existing Cash (31 December 2024) 9.2 9.2 • Payment of cash consideration of A$156.4 million for acquisition of Bullabulling Gold Project (excluding A$100,000 exclusivity fee a
Slide 24: Post Transaction Company Overview
Post Transaction Company Overview Pro-Forma Position Post Transaction Minimum Subscription Maximum Subscription (ASX: MI6) (A$200m capital raise) (A$220m capital raise) Shares on Issue (m)1 1,984.0 2,150.7 Market Capitalisation (at Offer Price)2 (A$m) 238.1 258.1 Pro-Forma Net (Cash) / Debt (A$m) (3
Slide 25: Indicative Public Offer and Proposed Transaction Timetable
Indicative Public Offer and Proposed Transaction Timetable Event Indicative Date1 Lodgement of Prospectus with ASIC and Exposure Period Commences 28 February 2025 Priority Offer Record Date 28 February 2025 Opening Date of the Public Offer 10 March 2025 Priority Offer Closing Date 24 March 2025 Gene
Slide 26: Key Risks
Key Risks
Slide 27: Key Risks
Key Risks The Securities offered under this document are considered speculative. Before applying for Securities, any prospective investor should be approach a court to seek a legal remedy, which can be costly and without any certainty of a favourable outcome. satisfied that they have a sufficient un
Slide 28: Key Risks
Key Risks (d) Metallurgy (h) Competition risk Metal and/or mineral recoveries are dependent upon the metallurgical process, and by its nature contain elements of significant The industry in which the Company is involved is subject to domestic and global competition, including major mineral explorati
Slide 29: Key Risks
Key Risks (j) Third party risk (q) Changes in government policies and legislation Under Western Australian and Commonwealth legislation (as applicable), the Company may be required to obtain the consent of Any material adverse changes in government policies or legislation of Australia or any other c
Slide 30: Overseas Investors
Overseas Investors This document does not, and is not intended to, constitute an offer in any place or jurisdiction, or to any person to whom, it would sale restrictions in Singapore may be applicable to investors who acquire Shares. As such, investors are advised to acquaint not be lawful to make s
Slide 31: Overseas Investors
Overseas Investors (f) Notice to investors in Switzerland Language of documents in Canada. The Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock Upon receipt of this document, each investor in Canada hereby confirms that it has e
Slide 32: Overseas Investors
Overseas Investors (m) Notice to investors in Indonesia A registration statement with respect to the Shares has not been, and will not be, filed with Otoritas Jasa Keuangan in the Republic of Indonesia. Therefore, the Shares may not be offered or sold to the public in Indonesia. Neither this documen
Slide 33: Further Project Information
Further Project Information
Slide 34: Geology
Geology Regional Geology Yilgarn Craton Project Geology Yilgarn Craton in Western Australia’s Eastern Goldfields is Australia’s premier gold province1 • Bullabulling is located on the western edge of the Coolgardie Domain of the Kalgoorlie Terrane in the Archean-aged Yilgarn Craton • Coolgardie Doma
Slide 35: Bullabulling Resource and Planned Drilling – Phoenix
Bullabulling Resource and Planned Drilling – Phoenix Phoenix Cross Section showing gold grades, drilling intercepts, planned holes and pit shells1 1 Bullabulling Mineral Resource Estimate (Snowden Optiro, December 2024). 0.5g/t Au cut-off grade and $3,000 pit shell. Tonnages, grades and ounces have
Slide 36: Bullabulling Resource and Planned Drilling – Dicksons
Bullabulling Resource and Planned Drilling – Dicksons Dicksons Cross Section showing gold grades, drilling intercepts, planned holes and pit shells1 1 Bullabulling Mineral Resource Estimate (Snowden Optiro, December 2024). 0.5g/t Au cut-off grade and $3,000 pit shell. Tonnages, grades and ounces hav
Slide 37: Bullabulling Resource and Planned Drilling – Bacchus
Bullabulling Resource and Planned Drilling – Bacchus Bacchus Cross Section showing gold grades, drilling intercepts, planned holes and pit shells1 1 Bullabulling Mineral Resource Estimate (Snowden Optiro, December 2024). 0.5g/t Au cut-off grade and $3,000 pit shell. Tonnages, grades and ounces have
Slide 38: Bullabulling Resource and Planned Drilling – Kraken
Bullabulling Resource and Planned Drilling – Kraken Kraken Cross Section showing gold grades, drilling intercepts, planned holes and pit shells1 1 Bullabulling Mineral Resource Estimate (Snowden Optiro, December 2024). 0.5g/t Au cut-off grade and $3,000 pit shell. Tonnages, grades and ounces have be
Slide 39: Snowden Optiro Updated Bullabulling Mineral Resource of 60.3Mt @ 1.2g/t Au for 2.3Moz
Snowden Optiro Updated Bullabulling Mineral Resource of 60.3Mt @ 1.2g/t Au for 2.3Moz Bullabulling Mineral Resource Estimate as of December 2024 (RPEEE)1 Indicated Inferred TOTAL By Area Tonnes (Mt) Grade (Au g/t) Ounces (koz) Tonnes (Mt) Grade (Au g/t) Ounces (koz) Tonnes (Mt) Grade (Au g/t) Ounces
Slide 40: Bullabulling Ounces Per Vertical Metre
Bullabulling Ounces Per Vertical Metre Bullabulling Ounces Per Vertical Metre (OVM) Tonnes Ounces Vertical Metre Ounces Vertical Metre Minerals 260 Limited 40
Slide 41: Bullabulling Grade Tonnage Curve
Bullabulling Grade Tonnage Curve Bullabulling Grade Tonnage Curve 90 1.80 Mt Au (g/t) 1.70 80 1.60 70 1.50 Million Tonnes 60 1.40 Au g/t 1.30 50 1.20 40 1.10 30 1.00 20 0.90 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1 1.1 Cut-off grade Au g/t Minerals 260 Limited 41
Slide 42: Metallurgy
Metallurgy Historical Processing Infrastructure1 Image looking north showing historical pits, rehabilitated leach • Metallurgical test work was undertaken at scoping and pre- pads, tailings storage facility and exploration camp feasibility study levels between 2011 and 2017 • Results indicate that t
Slide 43: Overview of Royalty Agreements
Overview of Royalty Agreements Franco-Nevada Royalty Agreement Vox Royalty Agreement • 1% gross royalty on all gold produced from mining • Royalty to Vox Royalty Australia Pty Ltd (Vox) at a rate of $10 per fine ounce leases 15/282, 15/552 and 15/554 in favour of Franco- (or fine ounce equivalent) o
Slide 44: Recent M&A References
Recent M&A References Measured Indicated Inferred Total Resource2 Announcement Enterprise Acquirer Target Stage Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Source Date Value (A$m)1 Au (koz) Au (koz) Au (koz) Au (koz) (kt) (g/t Au) (kt) (g/t Au) (kt) (g/t Au) (kt) (g/t Au) Ramelius makes Reco
Slide 45: ASX: MI6
ASX: MI6 Scan the QR code to visit our website and sign up for the latest news @minerals-260-limited @minerals260 www.minerals260.com.au Level 2, 1292 Hay Street, West Perth WA 6005 +61 8 6556 6020 info@minerals260.com.au