Astral Resources Mandilla Gold Project Targets 100,000oz Annual Production

Astral Resources Advances Mandilla Gold Project Toward 100,000oz Annual Production Astral Resources (ASX: AAR) is positioning itself as the premier gold developer in the Kalgoorlie-Kambalda region, with its flagship Mandilla Gold Project demonstrating compelling economics and a multi-decade production profile. Mandilla Pre-Feasibility Study Reveals Exceptional Economics Astral's recently completed Pre-Feasibility Study for the Mandilla Gold Project has delivered outstanding financial outcomes that showcase the project's robust economics: 95,000oz annual gold production for the first 12 years Pre-tax NPV8 of $1.4 billion at a $4,250/oz gold price Pre-tax free cashflow of $2.8 billion Payback period of just 12 months At current gold prices of approximately A$5,500/oz, these metrics improve dramatically to a pre-tax NPV8 of $2.3 billion and pre-tax free cashflow of $4.2 billion with payback shortening to just 8 months. Strategic Location in Australia's Premier Gold Region The Mandilla Gold Project benefits from its prime location just 70km south of Kalgoorlie and less than 25km from the well-serviced town of Kambalda. This strategic position provides: Excellent infrastructure access with the project located less than 500m from the Coolgardie-Esperance Highway Established mining services and workforce in nearby Kambalda Access to water and gas pipelines adjacent to the highway Proximity to processing facilities in a world-class mining region Growing Resource Base with Exceptional Conversion Rate Astral has built an impressive resource inventory of 1.8 million ounces across three project hubs, with Mandilla Gold Project serving as the cornerstone: Project Resource Conversion to Reserve/Production Target Mandilla 1.43Moz 95% converted to production target Feysville 196,000oz 86% converted (excluding Think Big fresh) Spargoville 139,000oz Recent acquisition Total 1.76Moz 1.1Moz maiden Probable Reserve The Theia deposit at Mandilla represents the project's centerpiece, containing 1.2 million ounces in a single large open pit with a Probable Reserve of 829,000oz. Recent Drilling Results Enhance Confidence Recent drilling at Theia has returned spectacular results that support and potentially enhance the current resource: 32m at 10.8g/t Au from 50m 2m at 95.9g/t Au from 105m 9m at 5.1g/t Au from 62m These results from the ongoing grade control drilling program (with only 20% of results received so far) strengthen confidence in the resource model and potentially indicate upside to the existing mineral resource estimate. Understanding Strip Ratio: A Key Mining Metric When evaluating gold mining projects, the strip ratio is a critical metric that measures how much waste material must be removed to access the ore. For the Mandilla Gold Project, the Theia deposit has a strip ratio of 5.5:1, meaning 5.5 tonnes of waste must be removed for every tonne of ore processed. While this may seem high to novice investors, it's actually quite reasonable for a large-scale, long-life open pit gold operation in Australia, especially considering the project's strong economics even with this ratio. The overall life-of-mine strip ratio across all deposits is 6.4:1, which remains economically viable given the project's low processing costs and high gold recovery rate of 95.5%. Development Timeline and Near-Term Catalysts Astral has outlined a clear path to production: December Quarter 2025: Submit regulatory approvals June Quarter 2026: Complete Definitive Feasibility Study July 2026: Final Investment Decision September Quarter 2026: Begin construction December Quarter 2027: Commissioning In the meantime, investors can look forward to several catalysts: Ongoing results from the 10,000m infill drilling program at Theia Upcoming 3,000m diamond drilling program targeting high-grade structures 7,000m RC drilling program at Kamperman and Feysville Further exploration across the company's extensive tenement package Investment Thesis: A Standout Gold Developer Astral Resources presents a compelling investment case as it advances toward becoming Western Australia's next significant gold producer: Scale and Longevity: 95,000oz annual production for 12 years, with an additional 6.5 years of processing from low-grade stockpiles producing 42,000oz annually Robust Economics: Low AISC of A$2,085/oz provides strong margins at current gold prices Funding Within Reach: Pre-production capital requirement of A$180.4M with A$46.7M in pre-production costs is achievable for a project of this quality De-risked Development: The recent Spargoville acquisition removes tenement boundary constraints, allowing optimal infrastructure design Strong Balance Sheet: A$18.6M cash position (June 2025) with a market capitalization of A$271.3M provides a solid foundation Experienced Leadership: Management team with proven track records in gold project development and operations Why Investors Should Follow Astral Resources Astral Resources stands out as the only ASX-listed aspiring gold developer with a project of this scale in the Kalgoorlie/Kambalda region. With a clear path to production, strong economics, and significant exploration upside, Astral offers investors exposure to a de-risked gold development story in one of the world's premier mining jurisdictions. The company's conservative approach to project development, combined with its substantial resource base and strategic land package, positions it well to capitalise on strong gold prices and deliver significant value to shareholders as it transitions from developer to producer. "Astral has positioned itself as a major player in Western Australia's gold sector, with significant upside potential due to its large resource base, high-quality assets, and clear development pathway. With multiple catalysts expected over the next 12-18 months, investors should keep a close eye on developments as the company advances Mandilla toward production." Want to Learn How This Gold Developer Could Deliver Exceptional Returns? Discover why Astral Resources' Mandilla Gold Project, with its compelling economics, strategic location and clear pathway to production, is positioning the company as Western Australia's next significant gold producer. With the potential for 95,000oz annual gold production, a robust NPV of $1.4 billion and a remarkably short payback period, this could be an opportunity worth considering for your investment portfolio. For complete investor information and to stay updated on Astral's progress toward becoming a major player in Australia's premier gold region, visit their website today.