FireFly Metals (FFM) Diggers & Dealers Mining Forum 2026 summary

Asset highlights and resource scale

• High-grade copper-gold VMS asset in Newfoundland with 80 million tons at 2.2% copper equivalent, including 1.4 million tons of contained copper and 1.1 million ounces of gold as byproduct.

• Measured & Indicated resource: 50.4Mt at 2.0% CuEq; Inferred: 29.3Mt at 2.5% CuEq.

• Core zone contains 19.9–20 million tons at nearly 4% copper equivalent.

• Recent infill drilling includes intersections such as 60 meters at 4% copper and 13 meters at 11.1% copper equivalent, supporting a new resource update.

• Over 70% of the resource is now Measured and Indicated, providing a strong foundation for mining studies.

Development plans and timeline

• Pathway to near-term copper production, targeting first output within three years and aiming for feasibility study completion by early next year.

• Permitting and early works are underway, with construction targeted to begin next year.

• Mining studies and a new resource update are scheduled for release in August, with rapid progression to feasibility and construction.

• Multiple mining scales under assessment, ranging from 1.8 to 4 million tons per annum, indicating a long mine life.

• Pre-ordering of long lead items and early works are planned for later this year.

Strategic positioning and market context

• Asset located in a Tier 1 jurisdiction with strong government and community support, excellent infrastructure, and proximity to port and European markets.

• Scarcity of high-grade copper projects globally, with increasing jurisdictional risk elsewhere and strong copper price environment.

• Copper market faces a >10Mtpa supply gap by 2050, with new supply increasingly from lower-grade, higher-cost projects.

• Dual-listed on ASX and TSX, with a supportive institutional shareholder base and a healthy balance sheet.

• Market cap has grown from AUD 70 million to AUD 1.4 billion in three years, reflecting rapid transformation.