Broken Hill Mines Limited · ASX:BHM
Broken Hill Mines — Investor Presentation (August 2025)
23 slides from Broken Hill Mines's investor presentation, Aug 7, 2025
Slide 1: Investor Presentation: Rasp & Pinnacles Ag-Pb-Zn Mines
For personal use only Investor Presentation August 2025 Rasp & Pinnacles Ag-Pb-Zn Mines Consolidating one of Australia’s great mining jurisdictions
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer Summary information Not a recommendation or financial product advice For personal use only This presentation has been prepared by Broken Hill Mines Limited (BHM or the Company) relating to the operation The information in this presentation is not a recommendation, wheth
Slide 3: The Broken Hill Ore Body
The Broken Hill Ore Body Largest and richest silver-lead-zinc ore body in the world For personal use only Broken Hill (c. 1896) Historical Snapshot • 300Mt at 15% Zn + Pb & 300g/t Ag • Continuous ore body growth over mine life • Mined for over 140 years (since 1885) • Production: >1 Billion Oz silve
Slide 4: Broken Hill Mines Strategy
Broken Hill Mines Strategy Consolidating operational Rasp Mine infrastructure with Pinnacles Mine mineral resource base For personal use only Broken Hill Tenement Map Consolidation of Rasp & Pinnacles Mines Rasp Pinnacles Mine Mine Main Lode Perseverance (underground) (underground) Western Min Pinna
Slide 5: Capital Structure
Capital Structure Completed reverse listing via the takeover of ASX-listed Coolabah Metals Ltd Board & Management For personal use only ASX Code BHM Track record in developing & operating world-class mature mines Patrick Walta Executive Chair Experience in M&A & large-scale Ag-Pb-Zn development & op
Slide 6: Rasp Mine: Overview & Strategy for Life Extension
Rasp Mine Overview & Strategy for Life Extension For personal use only Overview of Rasp Operation 6
Slide 7: Rasp Mine Overview
Rasp Mine Overview Broken Hill For personal use only Mineral Resources1 10.1 million tonnes at 9.4% ZnEq2 (5.7% Zn, 3.2% Pb & 48.5 g/t Ag) Pinnacles Mine Mining method Sub-level open stoping and up-hole stoping Processing method Grinding, flotation, thickening and filtration Rasp Mine Plant capacity
Slide 8: Rasp Mine Historical Performance
Rasp Mine Historical Performance 2023 affected by: macro factors (~26% Zn price ↓ & ~93% TC ↑), one-month For personal use only Ore throughput constrained to <400ktpa due to tailings management system (solar drying), with plant capacity of 750ktpa downtime & one-off costs inc. A$8m in redundancies 8
Slide 9: Rasp Resources Overview
Rasp Resources Overview LONG-TERM MINE LIFE EXTENSION FOCUS Western Min: Western Min: Western Min: Lowers South Lowers Siberia Centenary Western Min: For personal use only Centenary Deeps Uppers North CURRENT HIGH GRADE RESOURCE ZONE HIGH GRADE ‘LINE OF LODE’ REMNANT MINING OPPORTUNITY OPEN Current
Slide 10: Main Lode Development Schematic
Main Lode Development Schematic High Grade Main Lode 500m Access For personal use only Development to Main Lode Development Progress: Blackwoods Deposit be completed (Main Lode) • Byrnecut engaged to provide underground development works onto the high-grade Main Lode ore body • Total development req
Slide 11: Rasp: Clear Growth Strategy With Significant Optionality
Rasp: Clear Growth Strategy With Significant Optionality Rasp MRE: 10.1Mt @ 9.4% ZnEq (5.6% Zn, 3.2% Pb, 48g/t Ag) For personal use only Near-Term: Medium-Term: Long-Term: High-Grade Focus Underpin Production Continued Resource Growth Main Lode Western Mineralisation Centenary Initial focus of BHM d
Slide 12: Rasp: Vast Sunk Capital & >10 Years of Operations
New portal & decline (2022) Workshops, reagent stores & site lab Rasp: Vast Sunk Capital & >10 Years of Operations For personal use only BHM acquired a fully operational mine and processing infrastructure1: 750,000tpa capacity processing facility High grade concentrate production • 750,000tpa capaci
Slide 13: Simple Processing of Zinc & Lead Concentrates
Simple Processing of Zinc & Lead Concentrates For personal use only Modern, 750ktpa capacity plant using conventional comminution (coarse 200um grind) & sequential flotation Primary Crushing Lead Flotation Zinc Flotation Tailings & Backfill SAG & Bill Mill Grinding Concentrate Thickening & Filtratio
Slide 14: South Australia Rail Overview
South Australia Rail Overview Established Production & Logistics Supply Chain For personal use only • Zinc concentrate typical grade: 49-50% zinc • Lead concentrate typical grade: 65% Pb & 800 - 1,000g/t Ag Lead concentrate can be either transported to the Nyrstar Lead Smelter at Port Pirie or expor
Slide 15: Pinnacles Mine JV
Pinnacles Mine JV 70% Operating Profit Share Arrangement Over the Pinnacles Mine For personal use only Overview of Pinnacles Operation 15
Slide 16: Pinnacles Mine Overview
Pinnacles Mine Overview Broken Hill For personal use only Rasp Mine Mineral Resources1 6.0 million tonnes @ 10.9% ZnEq (4.7% Zn, 3.3% Pb & 132g/t Ag) 6.0 - 15.0 million tonnes @ 2.0 - 4.0% Zn, 3.0 - 6.0% Pb, 40 - Exploration Target2 125g/t Ag) Metamorphosed VMS (volcanic hosted massive sulphide) Min
Slide 17: Mineral Resource Overview
Mineral Resource Overview Pinnacles MLs & Resources For personal use only The Pinnacles Mines is considered to be one of the highest grade and shallowest deposits in Broken Hill Pinnacles Mining History: • Pinnacles mining started in 1884, to a depth of 80m below surface only • Only the high-grade s
Slide 18: High-Grade & Shallow Intercepts
High-Grade & Shallow Intercepts For personal use only Exceptional Historical (previously unassayed) Drilling Intercepts1: 8.9m @ 920g/t Ag, 12.2% Pb & 1.3% Zn (36.3% ZnEq) from 11m - PN311 o Incl. 5.9m @ 1,350 g/t Ag, 17.4% Pb, 1.9% Zn (52.8% ZnEq) from 14m 8.2m @ 763g/t Ag, 13.4% Pb & 1.7% Zn (
Slide 19: Near Term Open Pit Potential
Near Term Open Pit Potential For personal use only 19
Slide 20: Development Timeline
Development Timeline For personal use only Calendar Year 2025 2026 2027 Rasp Mine Western Mineralisation operations Main Lode development Main Lode operations Pinnacles Mine Drilling, studies & development Underground operations* * BHM assessing potential for near term (2026) open pit operations at
Slide 21: For personal use only
For personal use only Patrick Walta Shane Goodwin Executive Chairman Head of Corporate Affairs pwalta@brokenhillmines.com sgoodwin@brokenhillmines.com 21
Slide 22: Unlocking the Full Potential of Broken Hill
Unlocking the Full Potential of Broken Hill BHM agreements over the Rasp and Pinnacles Mines For personal use only Pinnacles JV Mining Broken Hill Consolation Rasp Mine Acquisition Agreement Strategy Acquisition Completed: Agreement Executed: Infrastructure Advantage: $1 consideration, BHM contribut
Slide 23: Zinc Metal Equivalents (ZnEq)
Zinc Metal Equivalents (ZnEq) For personal use only Metal recoveries used in the zinc equivalent (ZnEq) calculations for each element are based on the average metallurgical recoveries of Rasp achieved based on historical performance and applied to all ore types, including Pinnacles. ZnEq used in thi
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