Name of the Project
Murchison gold project.

Location
Murchison region, Western Australia.

Project Owner/s
Meeka Metals.

Project Description
Murchison has an initial probable ore reserve of 4.1-million tonnes grading at 3.1 g/t gold for 410 000 oz.

A feasibility study has outlined an operation with gold production of about 80 000 oz/y over the first eight years, with peak production of 103 000 oz in Year 6.

Recovered gold production over 9.3 years – eight years mining, 1.3 years stockpile processing – is estimated at 663 000 oz.

The project is based on the development of a standalone, one-million-tonne-a-year carbon-in-leach processing facility.

The mineral resources that support the planned mines remain open at depth, with strong opportunity to grow.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $249-million at $2 750/oz and $371-million at $3 000/oz. The internal rate of return is estimated at 40% at $2 750 and 56% at $3 000/oz.

Payback, following process plant commissioning, is estimated at $2 750/oz at 22 months and $3 000/oz at 16 months.

Capital Expenditure
Preproduction capital is estimated at A$137-million.

Planned Start/End Date
Mining is expected to start in 2025.

Latest Developments
The project is fully approved, paving the way for development to start.

Meeka Metals has now started construction of the haul road between the processing plant and the openpit mining area, allowing for mining to start early in 2025.

Work on the accommodation village and office infrastructure is also continuing and will accelerate with all approvals in place. The camp is set to be commissioned in December.

Meeka plans to start openpit mining in March 2025, as well as reassess and establish services to the high-grade Andy Well underground mine.

According to the company’s timeline, the process plant will be commissioned by midyear.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Meeka Metals, tel +61 8 6388 2700 or email info@meekagold.com.au.