Anax Metals Limited

Since acquiring an 80% interest in the Whim Creek Project, from Develop Global Limited (ASX:DVP) in 2020, our strategy has been to fast-track the re-start of copper and base metal production at the site, utilising smart technology to realise processing efficiencies and reduce development capex. The company has completed a DFS, demonstrating robust metrics, and we have secured final regulatory approvals to commence mining operations. The team has, in parallel to the Whim Creek development, been working on a Pilbara consolidation strategy. The strategy includes the development of a processing hub at Whim Creek capable of treating more than 20ktpa copper (eq) from our own deposits and other regional assets.

Management Profile:

Geoff Laing - Managing Director

Chemical Engineer, with 30 years in mining and project development in operations design and corporate roles. He has been involved in the exploration and junior mining sector for the last fifteen years in corporate and advisory roles. A key player in the Exco Resources divestment of a substantial copper asset for $175M to Xstrata Copper and as MD delivered the successful takeover of the company by WH Sol Pattinson.

Phil Warren – Non Executive Director

Chartered Accountant with over 25 years experience in board governance, corporate advisory and capital raising advice. Phil has spent a number of years working overseas for major international investment banks. Phil is currently a Non-Executive Director of ASX Listed companies Family Zone Cyber Safety Limited, Narryer Metals Ltd, Killi Resource Ltd and Rent.com.au Limited and was a founding director of Cassini Resources Ltd, which was subsequently acquired by Oz Minerals.

Jenine Owen - Chief Financial Officer

Jenine joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a Chartered Accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the External Assurance division, she moved to London in 1999 where she held various Finance and Governance roles before settling in Australia in 2008. Prior to joining Anax, Ms Owen was CFO at Predictive Discovery Limited (ASX:PDI).

Andrew McDonald - General Manager

Andrew is a geologist with over 20 years’ experience in project management, project development, resource geology and exploration across multiple commodities. Andrew has worked for numerous ASX-listed mining companies, and in recent roles has been responsible for project development and regulatory approvals for mining projects located in Australia and in the United States.

What are your key goals for the next 3, 6 and 12 months?

3 Months

- Ongoing news flow on the Sulphur Springs Study

- Project Debt funding update

- Consolidation transaction

- Resource extension drilling at Evelyn

6 Months

- Completion of project funding

- Final Investment decision

- Consolidation transaction

12 Months

- Commencement of construction

What do you think makes your company such a compelling investment?

 Potential for near term copper production in Tier-1 Western Australia mining location

 Robust production and economic metrics • 55ktpa concentrate production (DFS) + 2.5ktpa Cathode + 7.5ktpa ZnSO4 (Bioleaching Scoping study) • Free cashflow of A$410M; NPV7 of A$270M, IRR of 55%

 Significant growth potential:
• Resource growth potential at Evelyn and Salt Creek
• Existing and planned infrastructure ideally suited for regional base metals processing hub – targeting 20-30ktpa production • Multi-commodity exploration upside - 60km from the Andover Lithium Project (Azure Minerals) and on doorstep of 8.5moz Au Hemi deposit (De Grey Mining)
• Strong long-term fundamentals for key commodities (copper, zinc, lead, gold)

 Solid ESG credentials - ore-sorting, bioleaching, recycling of barren waste

 Poised for swift progress to operations:
• Debt funding and offtake discussions currently underway with trading groups
• Strong operations and corporate team in place
• Supportive Joint Venture partner in Develop Global Ltd (ASX:DVP)