Projects

South Africa, Witwatersrand
Witwatersrand Basin Project (WBP)

Significant enterprise value growth potential

Differentiating Mineral Resource: 7.24 million ounces of gold JORC Mineral Resource @ 4.00g/t Au; 55.4% classified as Measured and Indicated

Robust DFS – Phase 1 Qala Shallows: 16.8-year LoM; aimed at 70,000oz Au per annum steady-state production (12 years)

Project 200: significant growth opportunity up to 200,ooooz Au per annum

First Gold Pour: 17 March 2026 at Ezulwini Plant

CAPEX: Low due to historical mine shafts to access virgin mine blocks; planned toll processing with overall competitive AISC

Secured cost-effective toll treat agreement with Ezulwini Mining Company, Sibanye-Stillwater subsidiary

Fully Funded: ZAR875M (~USD50M) Sr. Loan Facility with Absa and Nedbank, two leading South African financial institutions​

Placement: anchored by Tribeca (A$10m), providing capital flexibility for growth, exploration and uranium upside (BRC)​