Minerals 260 (MI6) 2025 Conference Transcript

Summary of Minerals 260 (MI6) 2025 Conference Company Overview - Minerals 260 is a relatively new company, established three years ago, spun out of Linetown, with Tim Goyder as a key figure [1][2] - The company transitioned from a $30 million greenfields exploration company to a more substantial entity after acquiring significant assets [2] Financial Highlights - Successfully raised $220 million in April, which was 7 times the market cap at that time, setting a record for a company of its size [2] - The capital raise was driven by the quality of the asset, the team, and the strategic vision [2] Asset Acquisition and Development - Acquired a tenement package of 130 square kilometers from Zygene, now expanded to 570 square kilometers [7] - The project, Boolabooling, has a rich history, previously mined between 1994 and 1998, and is now positioned to capitalize on significantly higher gold prices [6][8] - The company paid $70 per ounce for 2.3 million ounces, with the current gold price being $700 per ounce higher in Australian terms [8] Exploration and Drilling Activities - The company has drilled 50,000 meters since the capital raise, with plans to drill 80,000 meters [3][14] - Historical drilling data indicates that 60% of the 12,000 holes drilled were shallow, suggesting significant exploration upside [13] - Recent drilling results have exceeded expectations, with notable intercepts at the Phoenix and Bacchus deposits [17][18] Project Development and Timeline - The company is leveraging historical data from a Pre-Feasibility Study (PFS) completed in 2012, which used a gold price assumption of $1,400 per ounce [9][19] - A new resource estimate is expected in December, with ongoing drilling to continue beyond that [15][23] - Targeting a final investment decision by 2027 and first production in 2028 [23][24] Strategic Advantages - The project is located in a tier-one jurisdiction with a strong operational framework, including existing relationships with traditional owners and completed environmental surveys [11][12] - The company has a robust governance and operational team, including experienced professionals from the mining sector [4][5] Market Outlook - The company believes that the gold price will continue to improve due to ongoing government debt and deficits [7] - The strategic positioning and funding provide the company with the ability to move quickly and capitalize on market opportunities [24] Conclusion - Minerals 260 presents a compelling investment opportunity with a well-defined strategy, strong financial backing, and significant exploration potential in a favorable market environment [23][24]