29Metals (29M) Diggers & Dealers Mining Forum 2025 summary

Strategic Positioning and Market Outlook

• Copper demand is rising due to global electrification, clean energy technologies, and data center growth, creating upward price pressure amid supply constraints and declining ore grades.

• Australian-based assets are positioned as low-risk, long-life operations with significant organic growth and exploration upside.

• Major shareholders hold about 60% of the register, supporting long-term stability.

• Emphasis on a strategic reset and optimism for future growth, with copper as a critical metal for the energy transition.

Golden Grove Operations and Growth Initiatives

• Golden Grove produces over 50,000 tons copper equivalent annually, with 30+ years of operating history and ongoing production growth.

• 2025 guidance: 22-25kt copper, 60-70kt zinc, 20-25koz gold, 750-1,000koz silver, and 48-56kt copper-equivalent output.

• Xantho Extended, the highest-grade ore source, is ramping up, boosting output and cash margins.

• Gossan Valley, a new mining front, will be integrated by late 2026, extending mine life.

• Recent investments in infrastructure and tailings management are reducing long-term costs and supporting production flexibility.

Exploration and Future Growth

• Exploration spending at Golden Grove will rise from $4M in 2024 to $10–14M in 2025, focusing on grade control, resource extensions, and near-mine growth.

• Gossan Valley and other targets remain open at depth, supporting ongoing mine life extensions.