Announcement • Jul 04
MMG Limited Provides Exploration Results For Dugald River Wallaroo Copper Prospect MMG Limited provided the exploration update at Dugald River Mine. Since 2021, the MMG Dugald River team has drilled nineteen diamond holes totalling 13,688 metres into the Wallaroo Copper prospect (previously known as Target Z) as part of the Dugald River Copper Growth Program. Results from drilling at Wallaroo Copper have produced extensive anomalous copper and gold intersections in near mine hanging wall copper anomalies with nine of the nineteen holes drilled intersecting (>0.1% copper) mineralisation. Mineralisation is structurally controlled, consisting of discontinuous, fracture-fill, disseminated and massive chalcopyrite and pyrrhotite. The sulphides occur in moderately to intensively altered and folded host rocks of the Mount Roseby Corridor. The geological features observed in these intercepts are analogous to ‘orogenic’ copper deposits. Assays returned some exceptional elevated copper and gold. Mineralisation appears to be partly controlled by the lithological contact between the Mount Roseby Schist unit to the west and the Dugald slates to the east. The intersection of north-east and north-south trending structural features appear to influence the fracturing and brecciation of the altered and folded host units developing dilation and eventually leading to mineralisation. Significant assays include: DR646: 56.3m @ 0.50% Cu and 0.12g/t Au from 387.2m (incl 20.0m @ 0.99% Cu and 0.07g/t Au from 501.0m) 44m @ 0.58% Cu and 0.17g/t Au and 1078ppm Mo from 578.0m; DR662: 44.0m @ 0.50% Cu and 0.06g/t Au from 318.0m 147.0m @ 0.39% Cu and 0.06g/t Au from 390.0m (incl. 10.0m @ 1.57% Cu and 0.25g/t Au from 482.0m); DR663: 75.4m @ 0.41% Cu and 0.04g/t Au from 331.0m (incl. 7.4m @ 1.17% Cu and 0.08g/t Au from 335.9m) 17.0m @ 0.88% Cu and 0.12g/t Au from 592.0m 25.3m @ 0.61% Cu and 0.05g/t Au from 698.7m; DR664: 157.8m @ 2.02% Cu and 0.41g/t Au from 370.0m (incl. 63.8m @ 4.63% Cu and 0.97g/t Au from 464.0m) (incl. 7.1m @ 19.86% Cu and 2.13g/t Au and 1300ppm Co from 472.7m) (incl. 7.0m @ 4.57% Cu and 0.91g/t Au from 492.0m) 18.8m @ 0.70% Cu and 0.23g/t Au and 2566ppm Mo from 585.0m 50.0m @ 0.97% Cu and 0.10 g/t Au from 404.0m 63.0m @ 1.57% Cu and 0.80 g/t Au from 472.0m (incl. 6.9m @ 7.59% Cu and 2.72g/t Au from 480.0m) 97.1m @ 3.10 % Cu and 0.97 g/t Au from 393m (incl. 6.9m @ 19.93% Cu and 7.26g/t Au from 443.2m) (incl. 8.1m @ 10.13 % Cu and 2.60 g/t Au from 458.4) 143.1m @ 1.54 % Cu and 0.32 g/t Au from 371m (incl. 21m @ 3.39% Cu and 1.01g/t Au from 451.9m) (incl. 5.6m @ 10.03 % Cu and 1.15g/t Au from 483.4m) 18.0m @ 3.19 % Cu and 1.47 g/t Au from 527m (Incl 6.6m @ 5.11 % Cu and 1.94 g/t Au from 541m; DR665: DR681: DR681D1: DU4503: DU4504: 14m @ 2.23% Cu and 1.42 g/t Au from 541m. The drilling and exploration program at Dugald River has successfully delineated encouraging copper mineralisation within the broader tenement package surrounding the existing zinc-lead-silver operation. These results at Wallaroo underscore the substantial copper potential at Dugald River and demonstrate the prospectivity of the tenure for copper discoveries beyond the current primary zinc focus. MMG will continue to assess how best to maximise the value of its copper minerals at Dugald River going forward. This includes further evaluation of the exploration data, potential resource definition, and strategic options to unlock additional value for shareholders while maintaining strong operational performance at the existing zinc operation. The Dugald River Mineral System, including the Dugald River Zn-Pb-Ag ore deposit, is hosted in the Roseby Schist package located within the 3 to 4km wide north-south trending high-strain domain of the Mount Roseby Corridor. The Mount Roseby corridor lies in the northern half of the Mary Kathleen Domain, part of the Eastern succession of the Mount Isa Inlier. The Mount Roseby Corridor has experienced complex polyphase deformation and metamorphism, with at least four phases of deformation recorded in the rocks at Dugald River. This deformation resulted in widespread alteration and transposition of both stratigraphy and pre-existing structural fabrics. The Mount Roseby corridor is bordered to the west by the Knapdale Quartzite and the east by the Mount Rose Bee Fault. The Knapdale Quartzite forms a prominent range of hills within the local area. The Mount Roseby corridor is comprised of the Mount Roseby Schist Formation that includes the local hanging wall calc-silicates, Dugald River Slate package (host package of the Dugald Lode) and the Footwall Limestone. The slates and the footwall limestones are metasomatised from calcareous to carbonaceous. Overall, this package forms part of the Mount Albert Group. Copper (Cu) prospects are common around the greater Dugald River district. The Little Eva iron oxide-copper gold (IOCG) deposit, approximately 10 kilometres to the north of Dugald River Mine, is the largest and most well known in the local area. Other smaller prospects and plays occur close to Dugald including Blackard, Scanlon, Turkey Creek, Legend and Lady Clayre. These deposits make up the Eva Copper Project that is currently under development. Numerous local historic copper workings occur close to the Dugald River Zn-Pb-Ag lode. Historic copper workings along strike to the south follow the contact of the Dugald River slate and the metamorphosed calc-silicate unit of the Mount Roseby Schist. Wallaroo Flat and Godkin were some of the more advanced workings. Secondary copper minerals (e.g., malachite) occur in outcrop indicating a structural link to the surface and were clearly the target for early artisanal workings. Copper mineralisation is also persistent in the hanging wall adjacent to the Dugald River Zn-Pb-Ag lode. Massive to disseminated chalcopyrite occurs in the hanging wall of the South Mine. This mineralisation is often associated with gold and locally high in molybdenum. The second type occurs in the South Mine between the main lens and hanging wall lens with lower gold grades but with associated cobalt which is locally elevated (>1% cobalt). The hanging-wall copper-gold mineralisation occurs primarily as chalcopyrite within or at the mica schist contact but can extend into the mafic porphyry unit and folded black slate lithologies. The source of the copper in the hanging wall zones of Dugald River remain elusive. Previous efforts to determine the extent the copper mineralisation to the south had failed to intersect significant mineralisation. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$7.01, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 234% over the past three years. Announcement • Jun 18
MMG Limited has filed a Follow-on Equity Offering in the amount of HKD 6.268321 billion. MMG Limited has filed a Follow-on Equity Offering in the amount of HKD 6.268321 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 705,892,000
Price\Range: HKD 8.88
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$8.11, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 246% over the past three years. Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ying Chen was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Mar 03
MMG Limited, Annual General Meeting, May 28, 2026 MMG Limited, Annual General Meeting, May 28, 2026. 
