Metals Australia Ltd

Presentation Highlights:

• Metals Australia Ltd (ASX: MLS) reported a market capitalization of USD 8.4MM / AUD 13.12MM and an enterprise valuation of USD 0.85MM / AUD 1.32MM as at 25 June 2025, supported by cash reserves of USD 7.5MM / AUD 11.8MM as at 31 March 2025, with the company’s share price trading at AUD 0.018 within a 52-week range of AUD 0.017 to AUD 0.029.
• The Lac Carheil Graphite Project in Quebec continues to advance as a world-class, strategically located asset with a 15-year life and forecast production of 96,000 tons per annum of flake graphite concentrate, underpinned by a scoping study NPV of USD 123MM / AUD 192MM, battery-grade purity of 99.96% achieved, and pre-feasibility studies for both upstream and downstream development well progressed with support from Quebec government grant funding.
• The broader exploration portfolio is also progressing, with gold corridor drill targets being defined at Corvette River in Canada, commercial-grade titanium-vanadium-iron products produced from the Manindi project in Western Australia, and the Warrego East copper-gold project in the Northern Territory preparing for a 3,000m drilling program scheduled for mid-2025 following regulatory approvals
  

Presentation Highlights:

• Metals Australia Ltd (ASX: MLS) is advancing its Lac Carheil Graphite Project in Quebec, Canada, which hosts a JORC-compliant Mineral Resource of 13.3 Mt at 11.5% TGC for 1.53 Mt of contained graphite, based on less than 3% of mapped trends. Metallurgical testing has confirmed recovery of >94% flake graphite, while downstream processing delivered 99.96% purity, 360 mAh/g energy capacity, and a 65.3% conversion rate to battery anode material. Design studies are underway for a 100,000 tpa flake graphite concentrate plant and an anode materials facility, with all major scoping and PFS contracts awarded.
• In 2024, the company tripled its Lac Carheil landholding and commenced winter drilling to grow the resource. At the Corvette River Project, a summer field program confirmed expanding mineralised corridors at Felicie, West Eade, and East Eade, with new gold results up to 4.42 g/t and historical grades reaching 29.7 g/t. Meanwhile, at Warrego East in the Northern Territory, exploration is planned post wet season following completion of mine permitting and land access agreements.
• At the Manindi Project in Western Australia, the company holds a 1.08 Mt Resource grading 6.52% Zn, 0.26% Cu, and 3.19 g/t Ag, alongside high-grade titanium-vanadium-iron intercepts including 58.18m at 0.36% V₂O₅, 23.4% TiO₂, and 28.8% Fe over a 3 km trend. Metallurgical work is ongoing to assess concentrate quality and integrated development potential. As of February 27, 2025, Metals Australia held USD 9.8MM / AUD 14.9MM in cash, with a market capitalisation of USD 9.6MM / AUD 14.6MM, reflecting strong financial flexibility and leverage to exploration success.