Mount Gibson Iron (MGX) Earnings Call Presentation

Transaction Overview - Mount Gibson Iron (MGX) is acquiring a 50% interest in the Central Tanami Project JV (CTPJV) from Northern Star Resources Ltd (NST)[10] - The acquisition cost is $50 million, plus adjustments[10] - The transaction is conditional and expected to be completed by March 31, 2026[26] Central Tanami Gold Project (CTPJV) - The CTPJV has a significant Mineral Resource of 1.6 million ounces of gold (100% basis)[10] - The project area covers approximately 5,700 square kilometers[10] - The Groundrush gold deposit within the CTPJV produced over 600,000 ounces of gold between 2001 and 2005 at 4 g/t Au[24,36] - The CTPJV includes a non-operating 1.2 Mtpa Carbon-in-Leach processing plant[24] Mount Gibson Iron (MGX) - MGX has substantial cash and investment reserves of $460 million as of March 31, 2025[16] - MGX has shipped over 40 million tonnes of iron ore since 2007 from Koolan Island[16] - MGX's Koolan Island mine is in its final 12-18 months of mine life[16] Valuation and Comparables - The acquisition multiple is $61/oz based on JORC 2012 Mineral Resource or $38/oz including historical (JORC 2004) estimates[29] - The average comparable transaction multiple is $174/oz[29]