Minerals 260 (MI6) Conference Transcript

Summary of Minerals 260 (MI6) Conference Call - July 23, 2025 Company Overview - Minerals 260 was spun out of Linetown three years ago, with significant influence from Linetown's management and shareholders [2][4] - The company is focused on the Bulle Bulle Gold Project, acquired from Zijin for $166 million, despite being a $30 million company at the time [2][3][12] Key Financials and Shareholder Structure - Raised $220 million, significantly increasing market capitalization [3] - Major shareholders include Samuel Terry and Tim Goiter, with the top 20 shareholders holding 65% of the company [4][5] - BlackRock and Franklin Templeton are among the notable international funds invested [5] Project Details - The Bulle Bulle Gold Project is one of the largest undeveloped gold projects in Australia, with a resource of 2.3 million ounces [12] - Historical mining occurred in the 1990s, with the project previously owned by Zijin for a decade [8][9] - The project covers 130 square kilometers, with ongoing tenure acquisition to enhance mineralization and infrastructure [10] Exploration and Drilling Activities - The company is currently drilling with six rigs, aiming to add 80,000 meters to the existing drilling database [12][23] - Historical drilling was shallow, with 60% of holes at 50 meters or less, indicating potential for deeper mineralization [13][14] - The exploration plan includes drilling down dip, infilling, and along strike, with a focus on the Phoenix and Bacchus areas [19][20] Resource Assessment - 60% of the resource is classified as indicated, with confidence in the resource due to dense drilling [17] - The current model pit has a cutoff of AUD 3,000, providing operational headroom with gold prices above AUD 5,000 [21] - The company has observed significant intercepts, including 62 meters at resource grade, indicating strong potential for resource expansion [25][26] Development and Infrastructure - The company aims to achieve production by the end of 2028, with feasibility studies and geotechnical data already in progress [29] - Water rights have been secured across the main paleo channel, with additional plans for water sourcing [32] - The project benefits from excellent infrastructure, including proximity to Kalgoorlie Airport and major highways [14][15] Future Outlook - The company plans to complete 80,000 meters of drilling by September, with a new resource estimate expected by December [33] - The first production is targeted for 2028, with a strong foundation in place due to capital and shareholder support [34][35] Conclusion - Minerals 260 presents a significant investment opportunity with a large resource base, ongoing exploration, and a clear path to production by 2028 [34][35]