Bmc Minerals Ltd · ASX:BMC
Bmc Minerals — Investor Presentation (December 2025)
34 slides from Bmc Minerals's investor presentation, Dec 22, 2025
Slide 1: ASX Announcement: Corporate Presentation
ASX Announcement 22 December 2025 Corporate Presentation BMC Minerals Ltd. (ASX:BMC) (BMC or the Company) is pleased to release its latest corporate presentation. This announcement is authorised for release to the market by the Board of Directors. Further Information For personal use only Canada Aus
Slide 2: BMC Minerals Corporate Presentation December 2025
For personal use only BMC Minerals Corporate Presentation December 2025 Ag Au Cu Zn Pb NOT FOR RELEASE TO US OR CANADIAN WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES OR CANADA
Slide 3: Important Information
IMPORTANT INFORMATION Purpose of presentation: This presentation has been prepared by BMC Minerals Ltd. (“BMC” or the “Company”) for information purposes only. This presentation has been provided to you solely on the basis that you (“Recipient”) agree in favour of BMC, their respective related bodie
Slide 4: Important Information
IMPORTANT INFORMATION Forward-looking statements: This presentation contains “forward-looking statements” and “forward-looking information”, including statements and forecasts which include (without limitation) expectations regarding the financial position of BMC, production targets, industry growth
Slide 5: Metal Equivalent Calculations
METAL EQUIVALENT CALCULATIONS Metal grade equivalents (reserves): Metal equivalent grade is the sum of the value of the grade of each metal, divided by the price of the metal being used for metal equivalent reporting. Metal grades used for calculations are the diluted mined reserve grades: Ag 138g/t
Slide 6: Canada's Premier Polymetallic Project
CANADA’S PREMIER POLYMETALLIC PROJECT Kudz Ze Kayah Project - Expected to be Canada’s Largest Silver and Zinc Producer For personal use only High grade, high margin Advanced stage Kudz Ze Kayah (KZK) is host ~US$150m of capital spent to date to a high Probable Ore Reserve with camp and nearby establ
Slide 7: Board Composition
BOARD COMPOSITION A highly credentialled board with deep experience in mine development, operations and capital markets For personal use only STEVEN MICHAEL MICHAEL MCCLELLAND ALEX CHRISTOPHER NATALIA STRELTSOVA IVAN MULLANY SCOTT DONALDSON DAVID ELLIS Non-Executive Chair CEO & Managing Director Non
Slide 8: Capital Structure
CAPITAL STRUCTURE Well funded to deliver on our plan for exploration, permitting, feasibility optimisations and engineering design For personal use only BMC Minerals Limited Key metric1 Major shareholders % held Ticker BMC BMC (UK) 64.7% Shares on issue ~275m Victor Smorgon Group 10.0% Share price A
Slide 9: Kudz Ze Kayah Project History
KUDZ ZE KAYAH PROJECT HISTORY Yukon Environmental and Socio-Economic Assessment Cominco Resources BMC acquires the KZK Project Maiden BMC Ore Board (YESAB) recommend to Feasibility Study For personal use only (now Teck Resources) from Teck. Krakatoa Zone Reserve Estimate the Canadian and Yukon revie
Slide 10: High-Grade Polymetallic Mineral Resource
HIGH-GRADE POLYMETALLIC MINERAL RESOURCE Majority of ABM & Krakatoa Mineral Resource converted to Ore Reserves underpinning the mine plan Probable Ore Reserve size (Moz AgEq)1,2,3 For personal use only ICE DEPOSIT5 107Moz 70Moz 50Moz 50Moz 25Moz Commodity Silver Gold Copper Zinc Lead KUDZ ZE KAYAH P
Slide 11: KZK Feasibility Study Highlights
KZK FEASIBILITY STUDY HIGHLIGHTS High-grade polymetallic project with compelling economics Annual Reserve For personal use only Ag Metal production1 grade3 Silver equivalent metrics1,2 Initial project life Probable Ore Reserve3 Ag 7.8Moz 138g/t PHYSICALS ~9 years 15.7Mt Au 57koz 1.3g/t Annual produc
Slide 12: Commodity Price Assumptions
COMMODITY PRICE ASSUMPTIONS Kudz Ze Kayah US$835m NPV7% (pre-tax) based on long term metal price assumptions well below current spot ± 10% price Feasibility For personal use only Consensus Difference between Feasibility Study Spot Difference between Feasibility Study movement Commodity Study long pr
Slide 13: KZK Project Site Overview
KZK PROJECT SITE OVERVIEW For personal use only 12
Slide 14: Mining Overview
MINING OVERVIEW Simple, open pit mining and high-grade massive sulphide Probable Ore Reserve Majority of mining via open pit – 14.0Mt of ore (89% of Probable Ore Reserves) ABM ZONE For personal use only mined via open pits and 1.7Mt of ore (11% of Probable Ore Reserves) extracted via underground m
Slide 15: Processing Overview
PROCESSING OVERVIEW KZK has a proven flowsheet with flexible concentrate logistics Processing and logistics summary Concentrate production For personal use only LOM recoveries and Ag g/t Au g/t Cu % Zn % Pb % concentrate grades 2.0Mtpa; producing ~200ktpa1 of zinc concentrate, ~60ktpa1 copper conce
Slide 16: Offtake Agreements
OFFTAKE AGREEMENTS Long-term offtake agreements in place with globally recognised partners For personal use only Flexible concentrate offtake Pricing mechanism driven by Ensures future demand and Leveraged to any upside terms during early spot prices de-risks initial operations in commodity pricing
Slide 17: Production Profile
PRODUCTION PROFILE Average annual production of ~32Moz1,2,3 pa over 8 years of processing Ore processed 3.0 For personal use only 2.2Mt 2.1Mt 2.1Mt 2.2Mt 2.0Mt 1.9Mt 2.0 1.7Mt High-grade feed 1.6Mt Average feed grade 1.0 of 597 g/t AgEq2,3 - Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Ag
Slide 18: Pre-Production Capital Cost Breakdown
PRE-PRODUCTION CAPITAL COST BREAKDOWN Low capital cost intensity results in a ~2-year payback period at Feasibility Study pricing For personal use only Capital cost Contingency Open pit mining Area (US$m)1 US$55m US$51m Open pit mining 51 Processing 190 Owner’s and Infrastructure2 111 indirect costs
Slide 19: Operating Cost Breakdown
OPERATING COST BREAKDOWN KZK is a low-cost operation expected to generate impressive margins Operating cost summary1 Breakdown of All In Sustaining Cost (AISC US$/oz AgEq) For personal use only AgEq basis $0.65 $11.83 Area (US$/oz AgEq) $0.47 $0.91 Sustaining Mining 2.86 capital PMPA $2.15 $9.80 Pro
Slide 20: Financial Metrics
FINANCIAL METRICS Pre-tax free cash flows of ~US$246m per annum Pre-tax free cash flow1 US$283m US$283m For personal use only US$272m US$258m US$254m US$230m US$234m ~2-years US$157m Payback period Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Operating costs (per oz AgEq)1,2 US$11.79 US$1
Slide 21: Path to Mine Investment Decision
PATH TO MINE INVESTMENT DECISION For personal use only Judicial review Permitting process Final Investment Technical Report Financing process completed on track Decision Feasibility Study Regulatory permitting Key outstanding licences BMC will explore a economic update applications submitted
Slide 22: Permitting Process Overview
PERMITTING PROCESS OVERVIEW Kudz Ze Kayah Project permitting well advanced For personal use only Stage 1: Stage 2: Environmental and socio-economic assessment phase Regulatory phase Mining and exploration Carried out by YESAB Carried out by the Federal and Yukon government in the Yukon departmen
Slide 23: KZK Project – Finlayson Lake District
KZK PROJECT – FINLAYSON LAKE DISTRICT The Kudz Ze Kayah Project mineral tenure remains under-explored Finlayson district ICE DEPOSIT1 4 separate polymetallic volcanic-hosted massive sulphide (VHMS) events For personal use only within the district FINLAYSON LAKE DISTRICT All known deposits either
Slide 24: Exploration Prospects – ABM Corridor
EXPLORATION PROSPECTS – ABM CORRIDOR High-grade intersections within 1km of proposed ABM mine For personal use only RHYOLITE PEAK1 (~1km west of ABM) 3.8m from 7.5m 5.1% Zn 128g/t Ag 0.8g/t Au 0.4% Cu 1.3% Pb CHARLIE 4.5m from 20.1m 8.7% Zn 291g/t Ag 1.7g/t Au 0.3% Cu 2.5% Pb 2.4m from 18.3m 6.7% Zn
Slide 25: Exploration Prospects – KZK Project
EXPLORATION PROSPECTS – KZK PROJECT GP4F – high-grade zinc, silver, gold intercepts For personal use only GP4F (~5km south-east of ABM) ~5 to10m in thickness 8.9m @ 0.2% Cu, 4.0% Pb, 7.8% Zn, ~500m down-dip and ~300m strike extent 1.8g/t Au, 117g/t Ag from 71.6m Remains open both along strike
Slide 26: Substantial ESG Credentials
SUBSTANTIAL ESG CREDENTIALS ENVIRONMENTAL GOVERNANCE SOCIAL BMC has received multiple awards for A politically stable, well- Multiple Agreements with First Nations For personal use only environmental and social performance established jurisdiction for both Socio-Economic Participation Agreem
Slide 27: A High-Margin Polymetallic Project
A HIGH-MARGIN POLYMETALLIC PROJECT Significant Exploration Upside For personal use only High Grade Underexplored 372 sqkm tenure in the KZK is host to a high Probable Ore Reserve Finlayson district, a region renowned for grade of 597g/t AgEq (silver equivalent)1 its rich volcanic hosted massive sulp
Slide 28: Appendix
For personal use only APPENDIX
Slide 29: Mineral Resources and Ore Reserves
MINERAL RESOURCES AND ORE RESERVES Tonnes Ag Au Zn Cu Pb AgEq Ore Reserves Classification Mt g/t g/t % % % g/t For personal use only ABM Zone Probable 13.4 131 1.3 5.9 0.9 1.5 597 Krakatoa Zone Probable 0.6 246 1.9 6.3 0.4 3.1 752 Total Open Pit Probable 14.0 136 1.3 5.9 0.9 1.6 604 Krakatoa Undergr
Slide 30: Precious Metals Financing
PRECIOUS METALS FINANCING Precious Metals Financing – Wheaton Precious Metals Under the terms of the Precious Metals financing, the Company is committed to delivering to Wheaton specified percentages of the Company’s refined gold and refined silver production, if any, as summarized as follows: Time
Slide 31: Non-IFRS Terms
NON-IFRS TERMS BMC uses certain financial measures to assess how the ABM Mine Project is projected to perform and to plan and to assess the overall effectiveness and efficiency of the potential future mining and processing operation. These financial measures (collectively referred to as Non-IFRS Fin
Slide 32: Non-IFRS Terms
NON-IFRS TERMS NPV: Net Present Value, is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present. NPV analysis is a form of intrinsic valuation and is used extensively across finance and accounting for determining the value of a bus
Slide 33: Mineral Resources, Ore Reserves and Production Targets
MINERAL RESOURCES, ORE RESERVES AND PRODUCTION TARGETS The information in this presentation which relates to previously announced estimates of Mineral Resources, Ore Reserves, Production Targets and Forecast Financial Information derived from a Production Target ("Forecast Financial Information") wa
Slide 34: Contact us
For personal use only Contact us For more information contact: Michael McClelland | CEO & Managing Director investors@bmcminerals.com ASX:BMC | bmcminerals.com