Capricorn Metals (CMM) Earnings Call Presentation

Transaction Overview - Capricorn Metals Ltd (ASX:CMM) will acquire Warriedar Resources Ltd (ASX:WA8) via a scheme of arrangement[27] - Warriedar shareholders will receive an implied offer price of A$0.155 per share, representing a 29% premium to Warriedar's closing share price on 23 July 2025[27] - The implied equity value of Warriedar is A$188 million[27] - Warriedar shareholders are expected to own approximately 436% of Capricorn's shares after the scheme implementation[28] Strategic Benefits for Capricorn - The acquisition will increase Capricorn's combined mineral resources to approximately 91Moz AuEq in Western Australia[38] - Warriedar's Golden Range Project (GRP) contributes 23Moz AuEq to the combined mineral resources, including 138Moz of gold and 60kt of antimony[38] - Capricorn's mineral resources are 68Moz[38] - Pro-forma cash and gold on hand for the combined entity is expected to be $379 million as of 30 June 2025[38] Warriedar's Golden Range Project (Ricciardo Deposit) - Ricciardo Deposit contains a total of 603kt of contained antimony[40] - Ricciardo Deposit contains a total of 1036Moz of gold[40] - The Au & Sb MRE is 245Mt @ 25 g/t AuEq for 196 Moz AuEq[40]