Astral Resources Nl · ASX:AAR
Astral Resources Nl — Precious Metal Summit | Beaver Creek (September 2025)
23 slides from Astral Resources Nl's conference presentation, Sep 11, 2025
Slide 1: Advancing Mandilla towards a multi-decade 100kozpa gold mining development
Advancing Mandilla towards a multi- For personal use only decade 100kozpa gold mining development Precious Metal Summit | Beaver Creek Marc Ducler Managing Director astralresources.com.au
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer The following notices and disclaimers apply to this presentation, and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation has been author
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer Production Target The total Life of Mine Production Target (and forecast financial information derived from the Production Target) referred to in this presentation is underpinned by approximately 75% by Probable Ore Resources, approximately 5% by Indicated Minera
Slide 4: Important Information and Disclaimer
Important Information and Disclaimer Previously Reported Results Exploration Results The information in this presentation that relates to Exploration Results is extracted from the ASX Announcements (Original Announcements), which have been previously announced on the Company’s ASX Announcements Plat
Slide 5: The Astral Investment Fundamentals
The Astral Investment Fundamentals An Australian gold developer, focused on the Kalgoorlie goldfields with an extensive land package in the premier mining For personal use only jurisdiction of the Kalgoorlie Goldfields in Western Australia. Three emerging hubs – centred on the flagship Mandilla Proj
Slide 6: Corporate Overview
Corporate Overview Shares On Issue Significant Shareholders: 1,428M For personal use only Market Capitalisation A$271.3M (at $0.19 per share) Options / Rights 68.9M/10.6M (Ave exercise price 12.1c) Board of Directors Management Team Board & Management 3.5% Mark Connelly Justin Osborne Marc Ducler Ju
Slide 7: Multi-Decade, De-Risked Development in a Tier-1 Location
Multi-Decade, De-Risked Development in a Tier-1 Location Mandilla PFS delivered a long-life mine development For personal use only using conservative cost and revenue assumptions. At $4,250/oz gold price 95kozpa of gold production1 Pre-tax NPV8 of $1.4B Pre-tax free cashflow of $2.8B Payback
Slide 8: Project History
Project History For personal use only Mining in the Mandilla Palaeochannel Drilling at Mandilla astralresources.com.au ASX:AAR | 8
Slide 9: Location, Location, Location
Kambalda East Location, Location, Location Airstrip The Mandilla infrastructure is located less than For personal use only Kambalda West 500m from the Coolgardie – Esperance Hwy and Mandilla is less than 25 km from the well Bluebush Village Camp serviced town of Kambalda. Potable water and gas pipel
Slide 10: PFS Highlights – Significant scale and longer life
PFS Highlights – Significant scale and longer life +95kozpa Long Profitable, Funding Robust Simple and For personal use only production mine life high-margin quantum Financials conventional profile (at A$4,250/oz Au) in reach (post Capex/Pre-tax at A$4,250/oz Au) 1.1g/t average 13.2 yrs AISC 2.75Mtp
Slide 11: Recent Spargoville transaction de-risks mine development
Recent Spargoville transaction de-risks mine development For personal use only The completion of the Maximus transaction de-risks mine development by allowing the optimal design of the Mandilla surface infrastructure unconstrained by tenement boundaries. Compact design provides for lower costs in co
Slide 12: Spargoville transaction added 139koz of Resources
Plus, this Spargoville transaction added 139koz of Resources and future growth opportunities For personal use only First RC program by Astral recently completed on the Spargoville tenure, 76 holes for 11,744 metres drilled Assays returned for 23 holes / 3,420 metres Results indicate early potential
Slide 13: 1.8Moz MRE – that converts…
1.8Moz MRE – that converts… For personal use only 95% of the Mandilla 2,000,000oz MRE converted into 1,800,000oz the PFS production 1,600,000oz target. 1,400,000oz 1,200,000oz Mandilla, 1,426,000 86% of the Feysville 1,000,000oz MRE converted into 800,000oz Mandilla, 1,265,000 Mandilla, 1,265,000 th
Slide 14: Mandilla Gold Project and the Cornerstone Theia Deposit
Mandilla Gold Project and the Cornerstone Theia Deposit For personal use only Strategic land Total MRE has Exceptional PFS package in a grown to 42Mt at Outcome – premier gold 1.1g/t Au for producing 95kozpa 22km to the +20Moz mining jurisdiction, 1.43Moz of for the first 12.5 yrs St Ives Gold Mine
Slide 15: Mandilla's Theia Deposit – 1.2Moz in a single large open pit
Mandilla’s Theia Deposit – 1.2Moz in a single Diamond drilling program gram-metre2 averages: large open pit • • CY2022 – 97 gram-metres 1H CY2023 – 108 gram-metres • 2H CY2023 – 137 gram-metres For personal use only • Diamond drilling in late 2024 • 2H CY2024 – 401 gram-metres at Theia returned: • 1
Slide 16: Latest in-fill results at Theia support the current MRE
Latest in-fill results at Theia certainly appear to support the current MRE and then some… For personal use only • 20% of the grade control drilling has returned assays to date. Best results include: • 32m at 10.8g/t Au from 50m • 2m at 95.9g/t Au from 105m • 1m at 19.8g/t Au from 45m and 34m at 1.6
Slide 17: Feysville – A significant Satellite Hub
Feysville – A significant Satellite Hub For personal use only • 14km south of Kalgoorlie – potential to yield multiple 100koz scale deposits • Current MRE: 5Mt at 1.2g/t Au for 196,000oz3 at Kamperman, Rogan Josh and Think Big • Maiden MRE’s announced for Kamperman and Rogan Josh (November 2024) – A
Slide 18: Forward work plans
Forward work plans Year 2025 2026 2027 Quarter Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 For personal use only End of Quarter Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec 3,300m regional RC drilling at Feysville (completed) 3,000m infill RC drilling at Iris (completed) Growth 3,300m extensional/sterili
Slide 19: Why invest with Astral?
Why invest with Astral? For personal use only Strong balance sheet, Tier 1 location, in the Compelling financial Significant tenement Experienced board, funded through to FID, heart of Kalgoorlie metrics, simple bulk- package with and management, with a strong register Goldfields, scale mining and e
Slide 20: Core Value Proposition
Core Value Proposition For personal use only Well funded with strong share register Multi-decade development opportunity 12.5yrs at 95kozpa production rate 1.8Moz Resource base and growing 1.1Moz Probable Reserve Significant growth potential Located in the heart of the Goldfields with a significant
Slide 21: Appendix - PFS Financials
Appendix 1 - PFS Financials Key Financial Assumptions Gold Price Assumed Discount Rate A$/oz % 4,250 8 Foreign Exchange AUD:USD 0.65 600 2,400 Key Project Metrics Stage 1 Cash Flow 2,100 Payable Metal Koz 1,414 500 Gold Revenue A$M 6,011 For personal use only 1,800 Mining Costs – Total A$M 1,594 400
Slide 22: Appendix – Mineral Resources & Ore Reserves
Appendix 2 – Mineral Resources & Ore Reserves Group Ore Reserve Estimate Group Mineral Resource Estimate For personal use only Probable Total Ore Reserve Indicated Inferred Total Mineral Resource Project Tonnes Grade Metal Tonnes Grade Metal Project Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade
Slide 23: Contact Us
For personal use only Contact Us Suite 2, 6 Lyall St, South Perth, WA, 6151 T: +61 8 9382 8822 E: info@astralresources.com.au ASX:AAR astralresources.com.au
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