Coda Minerals (ASX:COD) has released its Annual General Meeting investor presentation dated 11 November 2026, disclosing key details of the Elizabeth Creek copper-silver project in South Australia, including a pre-tax NPV7 of A$2.25 billion and an internal rate of return of 56%, alongside a resource of 65.5 million tonnes grading 1.6% copper equivalent.

Key Points

  • Elizabeth Creek mineral resource totals 706,000 tonnes of copper and 28 million ounces of silver across 65.5Mt at 1.6% CuEq
  • Pre-tax NPV7 of A$2.25 billion and pre-tax IRR of 56% disclosed, based on Scoping Study outcomes; a Pre-Feasibility Study is underway
  • Mine-life production estimated at 454,000 tonnes of copper and 20.3 million ounces of silver over 15.5 years
  • Cash and equivalents of A$10.08 million as at 30 September 2026; market capitalisation of A$37 million as at 11 November 2026
  • Chloride leach flowsheet delivers copper cathode and silver doré on site, with recoveries of approximately 95% copper and approximately 98% silver from Emmie Bluff deposit

Elizabeth Creek Project Resource and Location

The Elizabeth Creek project is located in South Australia, 16 kilometres from BHP's Oak Dam West project, 40 kilometres from BHP's Carrapateena operation, and 114 kilometres from BHP's Olympic Dam. The project hosts a mineral resource of 65.5 million tonnes at 1.6% copper equivalent, containing 706,000 tonnes of copper and 28 million ounces of silver. The filing states the project includes two open pits for early revenue, while the Emmie Bluff deposit is described as 400 metres deep, characterised in the presentation as shallow by global standards. South Australia was ranked fourth globally by the Fraser Institute, according to the filing.

Flowsheet, Royalty and Project Economics

The Elizabeth Creek project proposes extraction via whole-ore chloride leach, producing copper cathode and silver doré on site without the requirement for a smelter. The filing states the flowsheet delivers recoveries of approximately 95% copper and approximately 98% silver from the Emmie Bluff deposit using chloride and air oxidative leach. A royalty rate of 3.5% applies to the project. The pre-tax NPV7 of A$2.25 billion and pre-tax IRR of 56% are referenced to Scoping Study outcomes, with a Pre-Feasibility Study stated to be underway to build on those outcomes and refine project economics.

Corporate Snapshot and Board Composition

As at 11 November 2026, Coda Minerals had 427 million ordinary shares on issue and a market capitalisation of A$37 million, with a share price of A$0.087 as at 10 November 2026. The company held cash and equivalents of A$10.08 million as at 30 September 2026. The board comprises Non-Executive Chair Keith Jones, Chief Executive Officer and Director Chris Stevens, and Non-Executive Directors Robin Marshall and Paul Hallam. The senior management team includes General Manager Metallurgy and Process Heather Evans and Manager Geology Matt Weber. The filing states the board and management hold more than 200 combined years of experience and have delivered and operated more than 25 projects.