Meeka Metals Limited · ASX:MEK
Meeka Metals — Investor Presentation (November 2024)
31 slides from Meeka Metals's investor presentation, Nov 4, 2024
Slide 1: Building an Unhedged, Zero Debt Gold Producer
Not for release to US wire services or distribution in the United States Building an Unhedged, Zero Debt Gold Producer Development underway, first gold mid-2025 ASX:MEK meekametals.com.au
Slide 2: Important Information
Important Information Disclaimer This information contained in this presentation is issued by Meeka Metals Limited (“Meeka” or the “Company”). The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this dis
Slide 3: Important Information Continued
Important Information Continued Not an offer in the United States This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to
Slide 4: High Margin, Straightforward, Expanded Development
High Margin, Straightforward, Expanded Development Tier 1 mining jurisdiction – Western Australia. DFS completed May ’24, low-capex restart, mining up to 64,000oz pa. First gold targeted for mid-2025. Undiscounted pre-tax free cash flow $577m, NPV8% $344m, IRR 127% and 7-month payback. Processing ca
Slide 5: Capital Structure Before Placement
Capital Structure Before Placement $0.10 30.0 $0.086 25.0 1,935m $0.08 Price (A$/share) 20.0 share price Volume (m) $0.06 (29 October 2024) shares 15.0 $0.04 10.0 $166m1 138m $0.02 5.0 market cap options $- - $28m nil cash Ownership before Placement (29 October 2024) debt (October 2024) 7% 56% $138m
Slide 6: Leadership
Leadership Have invested $3.5m in the Company to date. Board Management Paul Chapman Chris Davidson - Chief Development Officer Non-Executive Chairman MINING ENGINEER ACCOUNTANT Mine manager for Silver Lake Resources responsible for developing their newest Chartered accountant with >30 years in the
Slide 7: Murchison Gold Project – Production Ready
Murchison Gold Project – Production Ready 100% MEK ownership in: Upgrade underway based on increased processing • 1.2Moz @ 3.0g/t Au Mineral Resource capacity and additional • 305koz @ 3.8g/t Au Ore Reserve drilling. Extensive established site and regional infrastructure: • Existing CIL processing p
Slide 8: May '24 DFS Outlines Strong Cash Flows
May ’24 DFS Outlines Strong Cash Flows Expected to get better with increased production in Dec ’24 DFS update. $577m $344m 127% Undiscounted free NPV8% of $344m IRR of 127% pre- cash flow of $577m pre-tax and tax and 100% pre-tax and $413m $244m post-tax post-tax post-tax Recommissioning phase 7 Mon
Slide 9: Bigger Mill Improved Outcome in updated DFS in Dec '24
Bigger Mill Improved Outcome in updated DFS in Dec ’24 30% increase in processing capacity All infrastructure including No change in development costs – from May ’24 DFS with purchase of accommodation village, admin / increased leach and absorption tank larger ball mill, motor office buildings, unde
Slide 10: Economics Likely to Improve with Dec '24 DFS Update
Economics Likely to Improve with Dec ’24 DFS Update Project Economics from May ’24 DFS Gold Price $/oz 3,000 3,250 3,500 Revenue $m 1,169 1,267 1,364 EBITDA $m 624 717 809 Free Cash Flow (Pre-tax) $m 392 485 577 Free Cash Flow (Post-tax) $m 284 348 413 NPV8% (Pre-tax) $m 225 284 344 NPV8% (Post-tax)
Slide 11: Expansion and Re-start of Existing Processing Plant to 640ktpa capacity
Expansion and Re-start of Existing Processing Plant to 640ktpa capacity ASX:MEK meekametals.com.au 11
Slide 12: Expansion and re-start of existing processing plant commenced in October 2024
Powerhouse Processing plant Administration complex Expansion and re-start of existing processing plant commenced in October 2024 ASX:MEK meekametals.com.au 12
Slide 13: Development activities are well advanced
Underground Mine Open Pit Mining Area – 19km Processing plant and administration complex Process plant expansion and recommissioning work underway Installation of 136-person accommodation village complete, commissioning nearing completion Development activities are well advanced ASX:MEK meekametals.
Slide 14: Murchison Gold Project
Murchison Gold Project 9 year initial plan: New open pits at Turnberry and St Anne’s Restart high-grade Andy Well underground mine Road access via the Great Northern Highway. Processing plant at Andy Well. 20km haul road between Andy Well and Turnberry on a granted Miscellaneous Licence Mining Lease
Slide 15: Low Risk, Low-Cost Oxide Open Pits in First 12 Months
Low Risk, Low-Cost Oxide Open Pits in First 12 Months Recent drilling focused on near-surface open pit DFS = 55koz @ 2.6g/t Au resource = 10,882m (121 holes) of infill drilling. $2,300/oz pit shells 360koz @ 1.4g/t Au open pit Mineral Resource (86% M&I). Only oxide ore considered in DFS mine p
Slide 16: Further Drilling Below Turnberry Open Pits is Expected to Deliver Underground Growth
Further Drilling Below Turnberry Open Pits is Expected to Deliver Underground Growth ~8km underground growth drilling commenced in October 2024 average 1,600 OVM’s to a depth of 200m (where density of drilling reduces) Lack of drilling below 200m growth drilling growth drilling target area growth dr
Slide 17: Andy Well Underground
Andy Well Underground High-grade, low capital re-start from existing decline development. • High-grade 505koz @ 8.6g/t Au Mineral Resource (73% M&I). • Initial 7 years of production planned. • Mining stopped in 2017 at ~A$1,550/oz gold price. • Re-access underground mine in Jan-25. • All lodes remai
Slide 18: Andy Well Underground
Andy Well Underground Rapid, low risk re-start in CY25. • Accelerated production schedule following expansion in available processing capacity. • Mining to commence in first half of CY25. First ~12-18 months of mining all from existing capital development. Oblique view • Low capital re-start with ex
Slide 19: Andy Well Growth
Andy Well Growth Drilling to deliver resource growth in CY25. Stage 1 Drilling: up-dip extension of high- grade shoot Au ppm 11.4m @ 14.2g/t Au up to 1,500 OVM’s in top 400m 3.5m @ 34.4g/t Au Stage 2: growth drilling down Stage 3: infill plunge high- and extend grade shoot 3.9m @ 9.4g/t Au high-grad
Slide 20: Looking Forward Through FY26
Looking Forward Through FY26 Progress versus plan. FY25 FY26 Q1 Q2 Q3 Q4 Q1 Q2 Studies DFS Update – Expanded Processing Capacity Open pit grade control drilling Drilling Turnberry growth drilling targeting UG extensions Andy Well growth drilling from UG drill platforms Camp support infrastructure in
Slide 21: Overview of Equity Raising
Overview of Equity Raising Two-tranche institutional placement to raise $35m. • Two tranche institutional placement to raise up to $35m (Placement). o Tranche 1 of the Placement to raise $29.3m utilising existing Placement capacity under Listing Rules 7.1 and 7.1A. o Tranche 2 of the Placement to ra
Slide 22: Sources and Uses of Funds
Sources and Uses of Funds Total cash of $63m fully funds the Company into production. Sources of Funds $m Cash (29 October 2024) 28 Gross proceeds of Placement 35 Total Sources 63 Uses of Funds $m Corporate 2 Murchison Gold Project development and ramp-up Site infrastructure 5 Processing plant recom
Slide 23: Capital Structure
Capital Structure Pro-forma capital structure including $35m institutional placement. Units Current Pro-forma Market capitalisation1 $m 166 166 Institutional Placement2 $m 35 Market capitalisation $m 166 201 Cash2,3 $m 28 63 Debt $m - - Net cash $m 28 63 Enterprise value $m 138 138 Notes: 1. Assumes
Slide 24: Equity Raising Timetable
Equity Raising Timetable Indicative timetable. Event Date Announcement Monday, 4 November 2024 Placement tranche one settlement date Friday, 8 November 2024 Placement tranche one allotment date Monday, 11 November 2024 General meeting for approval of tranche two Monday, 16 December 2024 Placement tr
Slide 25: Key Risks
Key Risks Set out in this section are potential risks associated with Company, the Placement, the industry in which the Company operates and an investment in the Company’s shares. It is not an exhaustive list of every risk faced by the Company now or in the future. Global economic Changes in global
Slide 26: Key Risks Continued
Key Risks Continued The Company’s success depends on the continued services of its key personnel. Due to management’s experience and the important role they have taken in developing the Company’s mining, business and financial plans, the Company could be adversely affected if any of the key manageme
Slide 27: Key Risks Continued
Key Risks Continued The Company’s business is subject to a number of risks and hazards generally, including adverse environmental conditions, industrial accidents, labour disputes, code of conduct breaches, unusual or unexpected geological conditions, ground or slope failures and natural phenomena s
Slide 28: Offer Jurisdictions
Offer Jurisdictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outs
Slide 29: Offer Jurisdictions continued
Offer Jurisdictions continued This document constitutes an offering of New Shares only in the Provinces of British Columbia, Ontario and Quebec (the “Provinces”), only to persons to whom New Shares may be lawfully distributed in the Provinces, and only by persons permitted to sell such securities. T
Slide 30: Offer Jurisdictions continued
Offer Jurisdictions continued This document has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this document may not be made available, nor may the New Shares be offered for sale, in the European Union except in circumstances th
Slide 31: Contact
Contact Tim Davidson | Managing Director October 2024 +61 8 6388 2700 info@meekmetals.com.au ASX:MEK meekametals.com.au