CodCast

Please join us for Episode 33 of the CodCast. It’s been a little while, but we’re back with a strong update. As is often the case, when things look quiet externally, activity on the ground is at its peak.

Drilling has now been completed, core processed, and assays and rehabilitation are underway. Our PFS owner’s team is fully established, internal review work is progressing, and the next phase of metallurgical testwork has commenced. Work on the updated Mineral Resource Estimate is also now underway using the latest drilling data.

Despite unusually wet weather in South Australia, we’ve continued to advance airborne surveys, alongside a significant focus on approvals and post-rain fieldwork.

In short, it’s been a very productive period, and we expect a steady flow of updates as this work begins to deliver results.

The CodCast returns this week with Part 1 of a special series on study stages across the exploration-to-development pathway. We cover everything from Concept Studies through to DFS, with a particular focus on the PFS stage.

This episode takes a broader view, offering practical insights into how studies are used, what good looks like, and where things can go wrong—alongside our usual candid discussion.

In the next episode, we’ll bring this back to Coda and what it means for the PFS and the work ahead.

We hope you enjoy the episode. As always, we welcome your feedback and questions at [email protected].

References -

Updated Scoping Study - Elizabeth Creek Project Economics Strengthen on Price Update - https://codaminerals.com/announcements/7373887

Competent Person's Statement - https://res.cloudinary.com/investorhub/raw/upload/v1747869755/leaf-prod/110/documents/Competent-Persons-Statement-2_johcpn.pdf

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

Please join us for Codcast Episode 32 where Matt and Chris break down the latest study results and the significant uplift in project value driven by updated copper and silver prices. They dive into commodity price assumptions, revenue impacts, NPV, and whether Elizabeth Creek could ever become a “silver project” (spoiler: unlikely). They also discuss how the updated numbers position Coda moving forward, before wrapping up with a brief update on the current drilling program.

References

Elizabeth Creek Project Economics Strengthen on Price Update

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

Please join us for Codcast Episode 31 – The Silver Edition. After a brief (and maybe questionable) attempt at humour, Matt and Chris dive into the recent extraordinary moves in the silver market and how it impacts Coda and the Elizabeth Creek Project. They wrap up with a brief update on the current drilling program and the next steps ahead in the PFS.

Content
0:00 - CodCast Ep 31 - The Silver Edition Introduction (Short Skit)
0:30 - Silver Market Analysis
4:51 - How does this impact the Elizabeth Creek Project
12:03 - PFS Program Progress Update

References

Elizabeth Creek Copper-Silver Drilling Recommences in 2026

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

Please join us for Episode 30 of the CodCast where Matt and Chris have a free-ranging discussion on all things in Coda- world recently. Firstly, they talk about the rationale for the follow-on placement and why those funds are so important for progress. Matt gives an update on drilling progress and Chris talks about recent corporate activities. They finish with a discussion on the London Mines and Money Conference and why the timing of this may just be perfect. 

References

Elizabeth Creek Drilling Underpins PFS Advancement

$12.3m Funding Secured, PFS Fully Funded

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

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