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2026-11-06
◂ Monitor MEK ASX

Meeka Metals Limited

Ramping Producer · Gold · Australia Rating locked: sign in to view v8.1 · mek-20261030t212434-full
Last 2026-11-06
A$0.075
1D
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1M
—
YTD
—
1Y
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Upside
Locked: sign in to view
Mkt cap
A$258.5M
EV
A$225.1M
Cash
A$51.2M
Debt
A$17.2M
2 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

3 assets

Core asset

Murchison Gold Project

Australia

Ramping Producer100% ownedGold

Operating Andy Well and captive CIL plant; open pits stopped July 2026. Fairway decline began October; first ore guided January 2027.

Producer · Ramping producer
Production annualised (attributable)
28.9k ozd
Production (last FY, 100%)
28.8k oz
AISC (latest quarter)
A$4,147/oz
AISC margin at spot
29.2%m
Delivery vs guidance
—
Reserve life
12.3 yrsd
Head grade
1.60 g/t

Project location

Approximate location

Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
NPVA$304M8% discount
IRR110%Published return
Initial capexA$46MPublished capital estimate
Operating cost1,946AUD/oz Au

Historic post-tax study at A$3,500/oz; includes construction and cannot be mechanically extrapolated to spot.

Resources & reserves4
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured150K t11.4 g/t Au; 55000 oz containedGold2026-06-30
Mineral ResourceIndicated8.2M t2.4 g/t Au; 625000 oz containedGold2026-06-30
Mineral ResourceInferred4.6M t3.7 g/t Au; 535000 oz containedGold2026-06-30
Ore ReserveProbable3.9M t2.8 g/t Au; 355000 oz containedGold2026-06-30
Economic studies1
StudyStageStatusDateSummary
Expanded Murchison Gold Project DFS 2.0Updated FeasibilitySuperseded2024-12-1210-year initial schedule,544koz sales;65koz first-seven-year average; current start-up and open-pit strategy supersede original operational timing. Technical modifying factors remain useful context.

Material

Mt Holland South Gold Project

Australia

Resource Stage100% ownedGold

Acquired 14 August 2026; A$10m further cash due November; no lithium rights and no current development decision.

Resource / scoping · Resource stage
Contained metal (attributable)
270.0k ozd
Resource grade
2.40 g/t
% Measured + Indicated
40.7%d
Resource tonnes
3.57 Mt
Our value per attrib. contained unit
Locked
Mining method
No current mining plan; resource open-pit and underground categoriesd

Project location

Approximate location

Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIndicated1.5M t2.3 g/t Au; 110000 oz containedGold2026-06-30
Mineral ResourceInferred2.1M t2.4 g/t Au; 160000 oz containedGold2026-06-30

Other

Circle Valley Gold Project

Australia

Early Explorer100% ownedGold

Retained E63/2007 exploration tenure; current drill programme and economics not disclosed.

Exploration · Early explorer
Ownership
100%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)

Stock database

Other assets

Plants, holdings and assets valued inside a project
Andy Well CIL processing plant · Processing plant / refinery · Operating
Product and spec
Gold bullion via CIL and refining
Nameplate capacity
6e+05 tpa
Throughput (12M)
489.1k td
Utilisation
81.5%d
Capital intensity (capex / tpa)
—
Feed source
Captive Andy Well underground ore and Murchison open-pit stockpiles
Offtake contracted
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