• Compelling economic outcomes: NPV of A$2.3B, IRR of 43%, 2-year payback
• 150,000oz Au per annum production from Q4 CY2028
• Infrastructure capital estimate of A$560M post-FID
• Maiden Ore Reserve of 90Mt @ 0.86g/t Au for 2.5Moz Au
• Updated Mineral Resource Estimate of 190Mt at 1.0g/t Au for 6.2Moz

Minerals 260 Limited (ASX:MI6) has completed the Pre-Feasibility Study (PFS) for its Bullabulling Gold Project, confirming its potential as a high-margin, large-scale, long-life gold mine. The PFS highlights compelling economic outcomes, including an NPV of A$2.3B, an IRR of 43%, a 2-year payback period, and an average annual EBITDA of A$510M. The project is expected to produce 150,000oz Au per annum from a 5 Mtpa processing plant, with an All in Sustaining Cost of A$2,520/oz, and a 19-year operating life. The project is funded with existing cash reserves, and early construction activities have commenced. The maiden Ore Reserve estimate is 90Mt @ 0.86g/t Au for 2.5Moz Au, and an updated Mineral Resource Estimate of 190Mt at 1.0g/t Au for 6.2Moz has been announced. Definitive Feasibility Study (DFS) workstreams have commenced and are targeted for completion in Q1 CY2027.

NPV of A$2.3B, IRR of 43%, 2-year payback, A$510M average annual EBITDA

The company is optimistic about the Bullabulling Gold Project's potential to deliver significant growth and value for shareholders, with production targeted to commence by the end of 2028.