Meridian Mining

Meridian Mining is focused on copper and gold assets in Brazil, with its main project being the past producing Cabaçal mine. A preliminary economic assessment released in March 2023 outlined plans to restart the Cabaçal mine with a 10 year mine life producing 2.4 million ounces gold equivalent per year. The project has low capex of $180 million and rapid payback of 10.6 months with robust economics including an after-tax NPV5% of $573 million at base case metal prices.

Cabaçal forms part of a 50km long VMS belt with additional exploration targets defined including the Santa Helena mine and other zones along trend from Cabaçal. The company sees excellent potential to expand resources at Cabaçal and make additional belt-scale discoveries to feed a central Cabaçal processing plant.

In addition, Meridian has identified a large IOCG exploration target at its Espigão project displaying geophysical signatures comparable to major deposits like Olympic Dam in Australia.

Meridian has an experienced board and management team with backgrounds spanning South America and Australia. With a positive PEA for restarting the Cabaçal mine and significant regional exploration upside, the company is positioned to be a new copper-gold producer in Brazil's emerging mining districts.