• Meeka produced 6,424oz of gold, slightly above the previous quarter but below expectations
• Open pit mining productivity issues continue, leading to reliance on lower-grade stockpiles
• Transition to higher-grade underground ore will improve production and margins in Sep-26 quarter
• Development of Turnberry underground mine to increase higher-grade ore availability
• Cash expected to grow with increased production and reduced cost profile

Meeka Metals Ltd reported a small improvement in gold production for the Jun-26 quarter, producing 6,424oz of gold. This was below expectations due to continued underperformance by the open pit mining contractor, which delayed access to high-grade ore and increased reliance on lower-grade stockpiles. The Company plans to conclude open pit mining in July 2026, preserving valuable open pit resources. Transition to higher-grade underground ore is expected to improve production and margins in the Sep-26 quarter. Development of the Turnberry underground mine is progressing, with portal development expected to commence in September 2026, increasing the availability of higher-grade underground ore.

Gold production expected to improve in Sep-26 quarter with higher-grade underground ore

Meeka Metals Ltd expects improved gold production and margins in the Sep-26 quarter as the operation transitions away from open pit mining and higher-grade underground ore becomes available.