Group 6 Metals Limited · ASX:G6M
Group 6 Metals — Investor Presentation (November 2026)
37 slides from Group 6 Metals's investor presentation, Nov 4, 2026
Slide 1: Investor Presentation November 2026
GROUP 6 METALS LIMITED · ASX: G6M al use only Investor Presentation November 2026 Including the September 2026 quarterly results Group 6 Metals Limited November 2026 Investor Presentation
Slide 2: FY26 at a Glance
FY26 AT A GLANCE A step change across headline measures $129.0m $85.7m $148.2m al use only Revenue Gross profit Net profit after tax +508.5% from $(8.5)m loss from $(32.1)m loss $49.3m $155.1m $21.2m Cash at 30 June Net assets Total borrowings +$41.7m from $(5.1)m -19.4% All comparatives are year-on
Slide 3: Balance Sheet: Recapitalisation restores a positive equity base
BALANCE SHEET Recapitalisation restores a positive equity base Metric FY26 FY25 Movement Metric FY26 FY25 Movement al use only Total assets $209.3m $50.9m +$158.4m Property, plant and equipment $90.8m $21.8m +$69.0m Total liabilities $54.3m $56.1m -$1.8m Net assets / (liabilities) $155.1m $(5.1)m +$
Slide 4: September 2026 Quarterly Results
al use only September 2026 Quarterly Results Group 6 Metals Limited November 2026 Investor Presentation
Slide 5: September 2026 Quarter at a Glance
SEPTEMBER 2026 QUARTER AT A GLANCE Record throughput, stronger cash 13,712 81,098 t $54.1m al use only MTU WO₃ produced Ore processed Cash at 30 September from 21,297 MTU in June quarter record; up from 77,953 t from $49.3m at 30 June $14.7m $35.5m 0 Operating cash flow Sales revenue Lost time injur
Slide 6: Plant and Productivity: Another record quarter for throughput
SEPTEMBER 2026 QUARTER - PLANT AND PRODUCTIVITY Another record quarter for plant throughput • 81,098 t of ore processed, up from 77,953 t in the June quarter, as operational improvements continued to deliver al use only • Average feed grade of 0.29% WO₃ reflects reliance on lower-grade open-cut stoc
Slide 7: Cash has grown every quarter to $54.1m
S E P T E M B E R 2 0 2 6 Q U A R T E R - CASH POSITION Cash has grown every quarter to $54.1m • $49.3m opening cash at 1 July Cash at quarter end ($m) al use only • +$14.7m operating cash flow on 60 54.1 $38.1m of customer receipts 49.5 50 • -$9.6m investment: $5.7m underground development, $3.9m 4
Slide 8: Early repayment of A$11.5m of debt
BALANCE SHEET Early repayment of A$11.5m of debt A$10.0m senior loan prepayment A$1.5m bridging loans repaid al use only Voluntary principal prepayment across the senior secured Drawn bridging principal will be repaid. The undrawn facilities, allocated proportionately among lenders. balance of the f
Slide 9: People and Safety
al use only People and Safety Group 6 Metals Limited November 2026 Investor Presentation
Slide 10: Workforce hours
Workforce hours • ~ 180 FTEs al use only • 48% G6M employees • 52% Contractors • 14% KI locals (25) • 81% Tasmanian (incl KI) • 19% interstate • Supporting the KI and Tasmanian economy. Group 6 Metals Limited November 2026 Investor Presentation 10
Slide 11: The Safety journey
The Safety journey • Jul 2023 to Jun 2025 (24 months) • 16 Lost time injuries (LTI) al use only • 30 Medical treatment injuries (MTI) • A consequence of poor operating environment, tenuous financial position, high turnover, limited systems and lack of leadership. • Jul 2025 – Sep 2026 (15 months) •
Slide 12: Processing
al use only Processing Group 6 Metals Limited November 2026 Investor Presentation
Slide 13: Plant and Productivity: Rebuilding a reliable plant
PLANT AND PRODUCTIVITY Phase 1 – Rebuilding a reliable plant (stop the stopping) • Remediation across crushing, screening, grinding, spirals, tables and concentrate handling lifted availability and utilization with flow on benefits in recovery al use only • Operational, Mechanical and Electrical res
Slide 14: Plant and Productivity: Focus on metallurgy
PLANT AND PRODUCTIVITY Phase 2 – Focus on metallurgy • Plant stability and reliability over the last 12 months has allowed the Metallurgy team to focus on recovery improvements: al use only • Understanding the bottlenecks (recirculating load) and losses (fines generation) • Fine tuning of spirals an
Slide 15: Plant and Productivity: Major circuit upgrades
PLANT AND PRODUCTIVITY Phase 3 – Major circuit upgrades 1. Crushing circuit extension – introduction of a 4th stage of crushing. • Minor improvements achieved through reliability improvements and installation of Anvils in the tertiary circuit al use only • Reduction ratio too great for 3 stages of c
Slide 16: Plant and Productivity: Eye on the prize
PLANT AND PRODUCTIVITY Phase 4 – Eye on the prize • Pipeline of improvement projects that will continue to deliver results 0 – 18 months 12 – 24 months + 2 years al use only Current* Target 1 Target 2 Potential Throughput (tph) 42.7 50 55 60 Utilisation 80% 85% 90% 90% (%) Grade** 0.50% 0.80% 0.80%
Slide 17: Mining
al use only Mining Group 6 Metals Limited November 2026 Investor Presentation
Slide 18: Underground mining is well advanced
THE UNDERGROUND MINE Underground mining is well advanced • Underground mining contract executed with HMR Drilling in April 2026 for development and Jun 26 Jul 26 Aug 26 Sep 26 Oct 26 1 Total al use only production services Waste development (m) 0 0 25 85 131 241 • Underground activity commenced at t
Slide 19: High grade ore delivery
THE UNDERGROUND MINE High grade ore delivery Upper C lens B lens Ore zones • Ore Drive 5 – 100m level • 2,650t @ 0.93% WO3 delivered in October al use only Group 6 Metals Limited November 2026 Investor Presentation 19
Slide 20: Mining sequence and methodology
THE UNDERGROUND MINE Mining sequence and methodology • Numerical modelling completed to predict behaviour of overlying rock strata and interaction with the seabed based on extraction sequences al use only • Model calibrated against documented historical performance. Golden rules: • 10m exclusion zon
Slide 21: Underground mining progress
THE UNDERGROUND MINE Underground mining progress Dolphin Mine Life of Mine Design (under development) 1.8km advanced since 22nd June ‘26 restart al use only June: 40m July: 423m Aug: 400m Sep: 544m Oct: 440m (est) • Ventilation, services, dewatering and temporary power established in line with minin
Slide 22: Short term ore production
THE UNDERGROUND MINE Short term ore production • Mining of remnant and isolated ore sources al use only as mining advances • Priority is to access the -150m level • Establish long term mine critical infrastructure including dewatering and ventilation • Establish diamond drilling platforms for furthe
Slide 23: Exploration
al use only Exploration Group 6 Metals Limited November 2026 Investor Presentation
Slide 24: Exploration and Growth
Exploration and Growth Overview Mineral Resource / Ore Reserve upgrade 1. Dolphin Mine Underground (ML) 2. Bold Head Mine (EL) al use only Brownfield Exploration 3. Bold Head East Immediate exploration targets – closest 4. Bold Head South pathway to production 5. Dolphin Mine West (resource extensio
Slide 25: Exploration and Growth: Bold Head Overview
Exploration and Growth Bold Head Overview Mineralisation at Dolphin and Bold Head mines occur within the Grassy group sediments. At Bold Head, this is only a small outcrop hidden by the Granite and Upper volcanics al use only • Mineralisation is proximal to the Granite with nearby sediments being ho
Slide 26: Exploration and Growth: Bold Head East
Exploration and Growth Bold Head East 500m East of the Bold Head mine: al use only • Outcropping Grassy Group sediments, • Favourable structures in multiple orientations, • Close to the granite with nearby sediments metamorphosed, • Gravity low, • Magnetic ridge All of the above conditions similar t
Slide 27: Exploration and Growth: Bold Head South
Exploration and Growth Bold Head South al use only • Historic drilling (1 & 2) intersected thick sequences of Drilling campaign planned 2027 volcanics (+400m) • ~ 1,000m • Target area has a coincident gravity low (blue) and a • ~ $300,000 magnetic ridge (red) – similar to Dolphin • Drill stratigraph
Slide 28: Exploration and Growth: Dolphin West
Exploration and Growth Dolphin West • Two holes at Investigator 6 (INV6-1 and 2) have no geology or assay information. A review of the hard copy logs suggest minor / narrow mineralisation al use only • Review of the logging of drillholes not in database shows the granite was intersected for holes cl
Slide 29: Exploration and Growth FY27
EXPLORATION AND GROWTH FY27 Soil Sampling Drilling (RC) al use only • MMI (mobile metal ion) – use to detect metals that have • Commence reconnaissance RC drilling for Bold Head (East been mobilised from other source rather than total and South) and other targets along the granite contact geochemist
Slide 30: Outlook
al use only Outlook Group 6 Metals Limited November 2026 Investor Presentation
Slide 31: FY27 Outlook: Catalysts for the next twelve months
FY27 OUTLOOK Catalysts for the next twelve months Underground ramp-up Higher head grade and Recovery al use only Development advances through FY27, progressively Feed grade forecast to lift in FY27 from 0.29% in Q1 to supplementing stockpile feed with higher-grade ore. 0.44% by Q4F, with recovery ri
Slide 32: FY27 Outlook: Throughput building, UG transition unfolding
FY27 OUTLOOK Throughput building, UG transition unfolding 120,000 0.65% 0.65% 63.3% 63.3% 0.70% FY25 FY26 FY27F 59.7% 60.2% 58.7% 59.0% 55.0% 57.3% 0.60% Plant feed (tonnes) al use only 100,000 0.45% Feed grade (WO₃%) 80,000 0.56% 0.43% 0.44% 0.50% 176kt 272,421 322,045 0.39% Tonnes milled 0.40% 60,
Slide 33: Market: G6M well positioned for tungsten market dynamics
MARKET G6M well positioned to capitalise on current tungsten market dynamics al use only • Limited processing capacity and thin spot availability keeping Western APT prices elevated • In China, domestic prices weakened as buyers limited purchases to immediate needs • China's export-licensing require
Slide 34: The Investment Case
THE INVESTMENT CASE A profitable Western tungsten producer entering its al use only high-grade phase • Profitable, cash-generative and funded after recapitalisation • Stabilised plant with circa 194kt stockpile @ 0.23% grade available to blend with increasing HG underground ore volumes • Underground
Slide 35: Substantial Shareholders
SUBSTANTIAL SHAREHOLDERS A strategically aligned share register ## Shareholder Shareholder Shares Shares % of % of issued issued capital capital al use only 1 Christopher Ellis (combined holdings) 63,211,694 25.52% 2 Elphinstone Holdings Pty Ltd 57,432,014 23.19% 3 Invia Custodian Pty Ltd; Abex Ltd
Slide 36: Q&A
al use only Q&A Group 6 Metals Limited November 2026 Investor Presentation 36
Slide 37: Disclaimers
ASX: G6M Disclaimers Forward-looking statements This presentation has been prepared to provide an overview of Group 6 Metals Limited (ASX:G6M, Group 6 Metals, or the Company) and contains statements that are, or may be deemed to be, forward-looking statements. Often, but not always, forward-looking
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