Diatreme Resources (DRX) Noosa Mining Investor Conference summary

Strategic vision and market positioning

• Aims to become the world’s largest producer of low iron, high purity silica sand, focusing on photovoltaic specialty glass for solar panels and other applications.

• Advancing multiple high-purity, low-iron silica sand projects in Far North Queensland, with a total resource of 501Mt at 99.1% SiO2 and additional exploration targets.

• Global demand for photovoltaic glass is growing 5–10% annually, with the market projected to reach US$38.3B by 2033 at a 4.7% CAGR.

• Recently acquired Cape Flattery Silica and Metallica Minerals, expanding the project pipeline and consolidating key tenements.

• Sale of the Clermont Gold Project to Moonlight Resources unlocks value from non-core assets and provides equity upside.

Project development and milestones

• Pre-feasibility study for the Northern Silica Project is underway, with first production targeted for 2027 and further expansion potential.

• Major project status granted by the federal government, streamlining permitting and approvals.

• Environmental studies and EIS lodgement scheduled for 2H 2025, with public comment early next year and final approvals targeted by year-end 2026.

• Offtake MOUs signed with Mitsui & Co. and Flat Glass Group, supporting future sales.

• PFS is fully funded, with DFS planning advanced and post-FID financing discussions commenced.

Resource, production, and economic highlights

• NSP targets production of 121Mt over 25 years, with initial output of 3Mtpa rising to 5Mtpa, CapEx ~$350 million, pre-tax NPV of A$1.41B, IRR of 33%, and free operating cash >$300 million/year.

• Bulk metallurgical testwork confirms high yields (85.6%) and low impurities (sub-100ppm Fe2O3), suitable for solar PV applications.

• Mineral Resource Estimate has increased by 513% since 2021, with 68.7% in the Measured category, supporting a long mine life.

• Ore Reserves for Galalar and Cape Flattery Silica total 79.5Mt at 99.14% SiO2.

• Exploration targets at Casuarina East and West could add 115–275Mt to the resource base.