Meridian Mining's Cabaçal Project's Preliminary Licence Approval Formalised by the State of Mato Grosso

Core Insights - Meridian Mining UK S has received formal approval for the Preliminary Licence (PL) of the Cabaçal Gold-Copper-Silver project, marking a significant permitting milestone for the company [2][4][5] - The company is now focused on preparing and submitting the Installation Licence (IL) for Cabaçal in the first half of 2026 [2][6] - Meridian has also submitted a Preliminary Licence application for the Santa Helena Au-Cu-Ag & Zn project, indicating progress in its project portfolio [3][7] Project Developments - The Cabaçal PL process began in Q4 2021, with the approval reflecting strong community and state support for the project [5] - The company aims to align the IL application with project financing and the Final Investment Decision [6] - The Santa Helena PL submission is seen as a major advancement, contributing to the development of the Cabaçal Au-Cu-Ag belt [7] Financial Metrics - The Cabaçal project has a net present value (NPV) of USD 984 million and an internal rate of return (IRR) of 61.2%, with a pre-production capital cost of USD 248 million [10] - The project is expected to achieve capital repayment in 17 months, assuming specific metal price scenarios [10] - Cabaçal's mineral reserve estimate includes 41.7 million tonnes at grades of 0.63g/t gold, 0.44% copper, and 1.64g/t silver [11]