Project Overview - The Bendigo-Ophir Gold Project (BOGP) is located in the Central Otago Goldfields of New Zealand [16] - The Rise & Shine (RAS) deposit is a significant gold discovery in New Zealand in 40 years, containing 2.08Moz @ 2.4 g/t Au [23, 25] - The project benefits from existing infrastructure, including easy access, fresh water, low-cost green energy, and a skilled workforce [19, 20] Resource and Reserve Estimates - The combined total resource estimate for the Rise and Shine (RAS) deposit is 2.34Moz @ 2.1 g/t Au [23] - The project has a Probable Ore Reserve of 1.21Moz [23] - The Prefeasibility Study (PFS) plans to extract mineral resources, with approximately 93% within the Indicated Resources category and 7% classified within the Inferred Resources category [8] Financial Outcomes - The project is expected to generate US$4.3 billion in revenue [41, 48] - The project is expected to generate US$2.9 billion in EBITDA [41, 48] - The project is expected to generate US$1.9 billion in free cash after tax [41, 48] - The After-tax NPV is estimated at US$1.1 billion, with an IRR of 72% and a payback period of less than 1.6 years [41, 48] Mining and Processing - The project involves open pit mining for 13+ years, followed by underground mining for an initial 7 years [34, 37] - The open pit mining is expected to extract 11Mt @ 2.75g/t from RAS and 1.4Mt @ 0.68g/t from SRX [34] - The underground mining at RAS is expected to extract 3.7Mt at 2.7g/t [37] - The processing plant has a capacity of 1.2Mtpa, with the option to upgrade to 1.8Mtpa [43, 52] - The metallurgical testing indicates very high gold recoveries at RAS of 93% using conventional CIL processing [55, 56]

Financial Performance & Growth - Westgold achieved a record Q4 FY25 and FY25, closing with $364 million in cash, bullion, and liquid investments[33, 34] - In Q4 FY25, Westgold produced 88,022 ounces of gold at an AISC (All-In Sustaining Cost) of $2,688/oz and sold 71,500 ounces at an average price of A$5,174/oz, generating revenue of A$370 million[36] - Westgold reported a record quarterly treasury build of $132 million in Q4 FY25[27, 36] Operational Highlights & Future Plans - Westgold is transitioning to predominantly longitudinal open stoping at the South-Junction mine, expecting paste fill to commence in late Q1 FY26, enabling 100% orebody extraction[41] - Great Fingall virgin stopes are expected to bring higher grade ore, with first ore to the Bluebird mill in Q2 FY26, displacing low-grade stockpiles[44] - Westgold plans to expand Beta Hunt to >2Mtpa with infrastructure projects progressing, including clean water supply and primary vent upgrades[50] - The company aims to expand Bluebird-South Junction to 1.2Mtpa and grow the Fletcher Zone[69] Resource & Reserve Updates - The Fletcher Zone Maiden Mineral Resource was reported as 31 million tonnes @ 2.3g/t for 2.3 million ounces of gold at the end of Q4 FY25[56, 85] - At the end of Q1 FY25, the Bluebird-South Junction Mineral Resource was reported as 14.969 million tonnes @ 2.9g/t for 1.37 million ounces of gold[85] - At the end of Q1 FY25, the Starlight Open Pit & Underground Mineral Resource was reported as 12.9 million tonnes @ 2.7g/t for 1.13 million ounces of gold[85]

Project Overview - Astral Resources is advancing the Mandilla project towards a multi-decade gold mining development with a target of 100,000 ounces per annum (kozpa)[1] - The project is located in the Kalgoorlie goldfields of Western Australia[23] - The company has a Mineral Resource inventory of 1.8 million ounces (Moz) and a Probable Reserve of 1.1 Moz[23] Financial Highlights (Pre-Feasibility Study - PFS) - The PFS demonstrates positive financial outcomes at a gold price of A$4,250/oz, including a pre-tax Net Present Value (NPV8) of A$1.4 billion and pre-tax free cash flow of A$2.8 billion[29] - The PFS indicates a payback period of approximately 12 months at a gold price of A$4,250/oz[29] - At a higher gold price of A$5,000/oz, the pre-tax NPV8 increases to A$2.0 billion and pre-tax free cash flow to A$3.9 billion, with a payback period of approximately 9 months[29] - The All-in Sustaining Cost (AISC) is projected to be A$2,085/oz over the Life of Mine (LOM) at a gold price of A$4,250/oz[34] Resources and Reserves - The Theia deposit represents 81% of the Mandilla Mineral Resource Estimate (MRE), containing 1.2 Moz of gold[44] - 95% of the Mandilla MRE converted into the PFS production target[40] - 86% of the Feysville MRE converted into the PFS production target (excluding Think Big fresh)[40] - The total Ore Reserve is estimated at 36.6 million tonnes (Mt) at 0.9 g/t Au for 1.082 Moz[64]

Company Overview - Catalyst Metals Limited (ASX:CYL) has a market capitalization of A$1.3 billion as of June 30, 2025 [54] - The company holds A$230 million in cash and bullion [54] - The pro-forma enterprise value is A$1.0 billion [54] Production and Operations - Group production is approximately 108koz pa (FY25) at an AISC of A$2,317/oz [4] - The company aims to increase Plutonic production from approximately 85koz pa to approximately 200koz pa while lowering costs to approximately A$2,000/oz [4] - Plutonic Gold Belt reserves are 861koz as of June 30, 2024 [4] - Plutonic Gold Belt resources are 3.0Moz as of June 30, 2024 [4] Growth Strategy - Catalyst completed the acquisition of Old Highway for A$32.5 million in cash [8] - The company plans to increase production by developing three new mines [27] - The company is undertaking a 39,000m drill program targeting an exploration target of approximately 420koz to 610koz at approximately 4.2 to 5.1 g/t Au at Plutonic Main – Baltic Extension [36] Bendigo Gold Project - The Four Eagles project has a high-grade Iris Resource of 70koz at 26g/t [48] - The company secured a processing solution for the Bendigo Gold Project [45]