Maronan Metals Ltd · ASX:MMA
Maronan Metals — Bell Potter Unearthed 2026
18 slides from Maronan Metals's conference presentation, Feb 12, 2026
Slide 1: Maronan Silver Project
ASX:MMA Maronan Silver Project A Scalable, High-Leverage Silver Development Project Presenter: Andrew Barker 12 February 2026 Bell Potter Unearthed
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER INVESTOR PRESENTATION | FEBRUARY 2026 GENERAL reliability, completeness or fairness of the information, opinions, forecasts, reports, estimates and conclusions contained in this document. No Limited Party represents or warrants that this document is complete or that
Slide 3: Asset Overview: Scale, Quality and Development Optionality
ASSET OVERVIEW • >65Mt of Inferred and Indicated Resources • 33Mt of Silver-Lead Resource & 32Mt of Copper- GLOBAL INVESTOR PRESENTATION | FEBRUARY 2026 Gold Resource1 Scale, Quality and Development Optionality RESOURCE • 122Moz Silver 2Mt Lead 271Kt Copper 760Koz Gold1 • 10-year project reaching 1.
Slide 4: In a District That Builds Mines
IN A DISTRICT THAT BUILDS MINES INVESTOR PRESENTATION | FEBRUARY 2026 LOCATION Queensland, Australia – North West Minerals Province; a Tier-1 geological neighborhood and a state government supporting new mine development Eva Dugald River ESTABLISHED PERMITTING PATHWAYS Ernest Henry Mineral Developme
Slide 5: Experience That Delivers Mines
EXPERIENCE THAT DELIVERS MINES Proven Mine Development and Execution Experience INVESTOR PRESENTATION | FEBRUARY 2026 DIRECTORS Robert Rutherford Richard Carlton Simon Bird Non-Executive Matthew Hine Managing Director Non−Executive Chairman Non-Executive Director Technical Director MANAGEMENT Dean F
Slide 6: Share Price Chart and Capital Snapshot
ASX:MMA INVESTOR PRESENTATION | FEBRUARY 2026 Share Price Chart Capital Snapshot Market Cap $120.7M Shares on Issue 251,447,060 Share Price (10 Feb 2026) 48c Cash (at 31 December 2025) $15.8M Enterprise Value $104.9M % held by substantial holders 47.95% Options1 24,150,000 Substantial Shareholders P
Slide 7: Building a Step at a Time
BUILDING A STEP AT A TIME INVESTOR PRESENTATION | FEBRUARY 2026 EARLY CASHFLOW OPTIONALITY VIA TOLL TREATMENT Starter Zone Starter zone supports either a stand-alone plant or toll-milling through near-by, under utilised plant. It could be both SCALABLE PRODUCTION PROFILE PEA base case at 1.2Mtpa wit
Slide 8: Starter Zone PEA Shows Compelling Economics
STARTER ZONE PEA SHOWS COMPELLING ECONOMICS Two Development Pathways Evaluated INVESTOR PRESENTATION | FEBRUARY 2026 STAND ALONE ONSITE PROCESSING TOLL TREATING • 10-year project schedule with average • Considers the same mining scenario steady state annual metal in concentrate: as a stand-alone pla
Slide 9: What Is the True Potential?
WHAT IS THE TRUE POTENTIAL? INVESTOR PRESENTATION | FEBRUARY 2026 N Starter Zone is less than ¼ of Maronan’s Starter Zone Global Resource Opportunities to enhance the early mine plan Growing the Indicated Resource Inventory to consider higher mining rate scenarios Upside not reflected in the Starter
Slide 10: Mineral Development License Application
MINERAL DEVELOPMENT LICENSE APPLICATION INVESTOR PRESENTATION | FEBRUARY 2026 500m 2km 10 1. ASX:MMA 11 March 2025 – Application Lodged For Mineral Development Licence
Slide 11: Indicative Development Pathway
INDICATIVE DEVELOPMENT PATHWAY Key Milestones INVESTOR PRESENTATION | FEBRUARY 2026 FY26 FY27 FY28 FY29 Dec 25 Mar 26 Jun 26 Sep 26 Dec 26 Mar 27 Jun 27 Sep 27 Dec 27 Mar 28 Jun 28 Sep 28 Dec 28 Mar 29 Jun 29 Surface Drilling Surface Drilling MDL Bulk Boxcut Decline Ongoing UG Mining Sample Undergro
Slide 12: Investment Proposition
INVESTMENT PROPOSITION INVESTOR PRESENTATION | FEBRUARY 2026 OPPORTUNITY High leverage to Robust Starter Zone Capital-Efficient Experienced team Silver with defined economics with development with track record of development expansion upside pathways (including mine development pathway toll treatmen
Slide 13: Real Silver. Real Scale
Real Silver. Real Scale For investor enquiries or further information, contact us today. Maronan Metals Limited Level 15, 323 Castlereagh Street, Sydney NSW 2101 www.maronanmetals.com.au | info@maronanmetals.com.au | +61 2 9281 1805 ASX:MMA)
Slide 14: Appendix 1: Preliminary Economic Assessment
APPENDIX 1: PRELIMINARY ECONOMIC ASSESSMENT Starter Zone Project Sensitivity to Silver Price Base Case Silver Price US$/oz 28.0 32.0 36.0 44.0 48.0 52.0 Silver Price A$/oz 41.8 47.8 53.7 65.7 71.6 77.6 NPV8% A$M 215 296 377 537 618 700 IRR % 26 32 37 47 52 56 Annual EBITDA A$M 95 113 130 164 181 199
Slide 15: Appendix 2: June 2025 Updated Mineral Resource Silver-Lead
APPENDIX 2: ASX:MMA 06 JUNE 2025 UPDATED MINERAL RESOURCE* SILVER-LEAD Silver-Lead Sulphide Resources Tonnes Grade Grade Contained Lead Contained Silver JORC 2012 Mt Lead Silver Tonnes Million Oz (at >3% Lead Cut-off) % g/t Starter Zone Indicated 5.3 5.2 116 275,000 19.6 Starter Zone Inferred 6.9 4.
Slide 16: Appendix 2: June 2025 Updated Starter Zone Mineral Resource Silver-Lead
APPENDIX 2: ASX:MMA 06 JUNE 2025 UPDATED STARTER ZONE MINERAL RESOURCE* SILVER-LEAD Starter Zone Inf+Ind Contained Contained Contained Contained Resources Tonnes Grade Grade Grade Grade Lead Silver Gold Zinc JORC 2012 Mt Lead Silver Gold Zinc Tonnes Million Oz Oz Tonnes (at >3% Lead Cut-off) % g/t g
Slide 17: Appendix 2: June 2025 Updated Mineral Resource Copper-Gold
APPENDIX 2: ASX:MMA 06 JUNE 2025 UPDATED MINERAL RESOURCE* COPPER-GOLD Global Copper-Gold Resource Mineralisation Types Tonnes Grade Grade Grade Contained Contained Contained >0.4% Copper Cut-off Mt Copper Gold Silver Copper Gold Silver % g/t g/t tonnes Oz Million Oz Leached Inf+Ind 1.1 0.79 0.71 9
Slide 18: Appendix 2: March 2024 Mineral Resource Gold-Only
APPENDIX 2: ASX:MMA 12 MARCH 2024 MINERAL RESOURCE* GOLD-ONLY Gold-Only Tonnes Grade Contained >1g/t Gold Cut-off Mt Gold Gold JORC 2012 g/t Oz Inferred (Fresh) 1.8 1.24 72,000 * ASX:MMA 12 March 2024 – Maronan Resource Review 19