Welcome to Episode 28 of the CodCast where Chris and Matt break down Coda’s fully underwritten $8.33m entitlement issue, which has seen exceptional institutional and shareholder backing. They explain why we’re raising, how the raise is structured, and what it means for shareholders. They also set out how the capital will be deployed: funding drilling, metallurgical and geotechnical work, and mine re-optimisation to drive Elizabeth Creek towards a value-defining Prefeasibility Study. Finally, they touch on recent independent research coverage by MST Financial, and the growing strength of the copper and silver markets.

Parts of this episode were recorded before the release of the Prospectus on Tuesday 23rd September 2025. Please refer to the dates in the Prospectus for full details of the office.

References

Entitlement Prospectus

MST Research Report

New Flowsheet Delivers Significant Cu-Ag Economic Uplift

Competent Person's Statement

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://res.cloudinary.com/investorhub/raw/upload/v1758764074/leaf-prod/110/documents/Coda_Disclaimers_qj6lhz.pdf

We’re excited to bring you Episode 27 of the CodCast, where Chris Stevens and Matt chat through this week’s big announcement – the updated copper-silver flowsheet and related economic results, released Thursday, 28 August 2025.

In this episode, Chris and Matt step back from the technical detail to focus on what it all means for Coda and our shareholders:

• The impact of the new flowsheet on project economics
• The refreshed copper-silver base case
• Why cobalt has been removed from the current plan – and our strategy for bringing it back in later

References
New Flowsheet Delivers Significant Cu-Ag Economic Uplift
Material Uplift in Copper and Silver Recoveries
Competent Person's Statement

Disclaimer
This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Please join us for Episode 26 of the CodCast!  

We are now well into the hard yards of optimising and finalising recovery numbers, plus locking in OPEX and CAPEX estimates for our alternative whole-ore leach flowsheet announced back in June. 

In this episode, Chris and Matt dive into what’s involved, how the work is progressing on schedule. There’s a lot on our plate — but momentum is strong.  

They also chat about the PFS, the huge amount of activity happening in the field, and why Coda is now catalyst rich for the first time in a long while. It’s busy times on site, with drill preparation, approvals, heritage surveys, hydrogeology, and geotechnical planning all running in parallel.  

We hope you enjoy this behind-the-scenes update — and keep an eye out for fresh ASX announcements as new results roll in.

References

Key Approvals Milestone Achieved at Elizabeth Creek

Updated Scoping Study: New Resources, Higher Recoveries Significantly Boost Elizabeth Creek’s Underlying Value

Competent Person's Statement

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Join us for a special livestream episode of the CodCast with Chris and Tim Miller, our South Australian Operations Manager, as they break down what’s inside the recently submitted Draft Scoping Report for the Elizabeth Creek Project.

This episode unpacks why this document is so important, what it means for project approvals, budgeting, and timelines—and why South Australia is leading the way with a smarter, more flexible approach to mining regulation.

References

Key Approvals Milestone Achieved at Elizabeth Creek

Updated Scoping Study: New Resources, Higher Recoveries Significantly Boost Elizabeth Creek’s Underlying Value

Competent Person's Statement

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Please join us for episode 24 of the CodCast where Chris and Matt talk about the announcement made to ASX on 26 June 2025 "Breakthrough Delivers Material Uplift in Copper, Silver Recoveries”. 

In this episode we dive into what is meant by recoveries, how this recent work differs from the existing published flowsheet and what next in the work-programme. 

References

Material Uplift in Copper and Silver Recoveries

Updated Scoping Study

Competent Person's Statement

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Please join us for Episode 23 of the CodCast. As the CodCast turns 1 year old, we have a new look, and more copper and Coda content.   

Chris and Matt sit down to talk about happenings in copper world, in what was a huge week with two juniors getting bid on, major changes in copper stock levels, and a Chinese investor taking what may be the largest-ever single position in copper on the Shanghai exchange.

In the second half, we talk about Coda’s current work plans and what next as we eagerly await results from our next stage test work. 

As always, we have provided chapter links so you can skip ahead to what interests you most.

Show Notes

We refer to the Lion Selection Resources Clock in the episode. This was developed by Lion Selection (ASX: LSX), https://lionselection.com.au/ our referenced material is taken from https://stockhead.com.au/resources/tick-tick-boom-why-lion-selection-groups-hedley-widdup-thinks-minings-latest-bust-is-almost-over/

Investment in copper by Bian Ximing: https://www.businesstimes.com.sg/international/chinese-trader-who-made-us1-5-billion-gold-builds-giant-bet-copper

New World Resources: New World Enters Into a A$185M Scheme with Central Asia Metals 

Xanadu Mines: Recommended A$0.08 Per Share Cash Offer

Rex Minerals: Rex Minerals enters a A$393M Scheme Implementation Deed with MACH 

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Please join us for Episode 22 of the CodCast. Following the speech by Chris at RIU Sydney 2025, Matt and Chris delve deeper into the data about what drives exploration company share prices. 

Ahead of the speech, we crunched the share price data from all 92 companies that presented at RIU Sydney last year seeking to uncover what drove shareholder value over the next 12 months.   The results may surprise you and have interesting implications for how companies should advance their projects in the current market.   

We have also appended the speech in full to this video (hence why it looks a little longer than usual). Please use the markers within the video to skip to the main speech.   The full speech can also be found here: https://www.youtube.com/watch?v=oaFuPRVPPEA&t=10s

References 

Updated Scoping Study: New Resources, Higher Recoveries Significantly Boost Elizabeth Creek’s Underlying Value

Competent Person's Statement

Lasonde curve

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Please join us for Episode 21 of the CodCast. This episode is a hybrid special from Resources Rising Stars Conference in Adelaide. The first half features an interview with Chris and Grady Wulff from Bell Direct Securities.   

In the second half, Chris interviews our Operations Manager, Tim Miller to get an update on the approvals process in South Australia and Coda’s most recent work to advance approvals and environmental work.   

We also have a special guest from VRIFY- you may have seen the fancy 3D models used by many companies. Matt Brice gives more insight into VRIFY and we show how Coda uses the platform to better explain the open pit and underground copper-cobalt-silver mineralisation at Elizabeth Creek.   

To see the full speech from RRS Adelaide, please also click here: https://www.youtube.com/watch?v=F5L-zkJ1Q-k

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Join us for Episode 18 Part 2 of the CodCast- Geology Deep Dive. In this episode Chris and Matt talk about the geology of Elizabeth Creek and what we hope to see from this programme as well as some of the work and rationale behind the targeting at Emmie East. 

They also talk more generally to the different drilling types used at Elizabeth Creek and provide illustrated examples of RC and Diamond drilling plus some more drone shots from the current programme. 

We have endeavoured to keep things interesting and relevant to the current work, but this is general in nature and for background and interest only. All examples used are from previously released information; this episode contains no new exploration information, not least because we don’t have it yet! 

The Coda team is now on site, and we look forward to bringing you results as soon as we can. 

References
CodCast Episode 18 - Part 1
Drilling Commences at Emmie East
High-Impact Drilling Set to Commence at Elizabeth Creek

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf

Join us for Episode 18 Part 1 of the CodCast “Drill Baby, Drill” where Chris and Matt talk about all things exploration at Elizabeth Creek.
 
In this episode Chris and Matt talk about the most recent events in the copper market, we then have Tim Miller, our SA Ops Manager joins us remotely to talk about drill preparation and what goes into getting a drill programme moving. 

Being a man of many talents, Tim has captured some incredible drone videos so we hope you enjoy the footage as we get drilling at Elizabeth Creek. 

On Friday we will release Part 2 of this episode with a detailed discussion about different types of drilling, how the rigs work, the differences between RC and diamond core and why we use different types of rigs. We then take a deep dive into the geology of the shale hosted copper-cobalt-silver mineralisation at Elizabeth Creek and what we are hoping to see from this programme. 

References

Drilling Commences at Emmie East

High-Impact Drilling Set to Commence at Elizabeth Creek Creek’s Underlying Value 

Disclaimer

This PodCast is general in nature and is to provide background information on Coda Minerals Ltd (The Company). By listening to this Podcast, you are subjected to the following disclaimers available at https://www.codaminerals.com/wp-content/uploads/2024/05/Coda_Disclaimers.pdf