Summary of Red Metal (RDM) Conference Call - July 22, 2025 Company Overview - Red Metal (RDM) has approximately 360 million shares on offer at a price of 12¢, resulting in a market capitalization of about $43 million [1] - The company currently holds around $4.9 million in cash, which is expected to fund various upcoming programs [2] Key Projects and Opportunities Rare Earths Project - Sybella - The Sybella project is located 20 km southwest of Mount Isa, featuring a granite body with rare earth mineralization estimated at 4.8 billion tonnes [4] - The project includes 780 million tonnes of weathered material, which is easy to process [5] - A column leach test will be conducted to confirm the extraction process, which is expected to yield 70-80% of rare earths using a weak acid solution [6][7] - The low operational and capital expenditure (CapEx and OpEx) positions this project as one of the most cost-effective rare earth projects globally [5] Base Metals and Gold Projects - Several base metal and gold drilling programs are set to commence in August and September, including a project along strike from the Hemi gold discovery [11][12] - The Hemi discovery has a significant market value, and successful drilling could lead to a substantial increase in Red Metal's share price [12] Additional Projects - The Pulkadimada project aims to explore granite-hosted intrusion-related systems, with funding from BHP for sedimentary copper plays [14] - A $250,000 grant from the Queensland government will support exploration for hematite breccias in Queensland, which is a rare find in the region [16][17] - Red Metal owns 44% of Maranen Metals, which is expected to release a scoping study on a significant silver-lead and copper-gold deposit soon [19] Market Position and Future Outlook - The company believes that any successful outcome from the outlined projects could lead to a significant rerating of its stock [2][10] - Comparisons are made with other companies in the sector, such as Metioric, which has a market cap of $200-300 million, highlighting the potential for Red Metal's valuation to increase significantly [9][10] Conclusion - Red Metal is positioned for potential growth through multiple projects in the rare earths and base metals sectors, with a strong focus on cost-effective extraction methods and strategic partnerships [2][19] - The upcoming results from the column leach tests and drilling programs are critical for the company's future valuation and market perception [10][18]