Charts & TA, page-164

Minerals 260 is advancing the Bullabulling Gold Project in Western Australia, targeting a JORC resource upgrade by December 2025. With over 80,000m of drilling underway and multiple zones already returning wide, consistent, and high-grade intercepts, the project is emerging as a potential super pit-scale development.

Recent assays include:

• 62m @ 1.1g/t Au, incl. 1m @ 23.9g/t Au
• 35m @ 1.29g/t Au
• Mineralisation continuity observed across a 2.5km+ strike (Phoenix, Bacchus, Dicksons, Gibraltar)

Strategic Rationale

• Scalability: Drill results demonstrate thick, consistent mineralisation across multiple zones.
• Continuity: Strong geological structure supports potential for large-scale open pit development.
• Fully Funded: No immediate need for capital raises; MI6 has sufficient funding for the full program.
• JORC Catalyst: Resource upgrade due by December 2025 is expected to trigger a significant re-rating.

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Key Risks

• Dilution Risk: Low in the short term, but future raises could be required if the company accelerates into development or M&A.
• Operational Delays: As with any large-scale program, delays in assay turnaround or drilling could affect timeline.
• Planning Risk: Expansion beyond the current scope may strain existing capital if not paired with strategic funding.

Investment Timing

The current phase offers a compelling accumulation window. The stock is in a low-risk funding position, with the drill program already de-risking geological assumptions. With the market yet to fully price in the scale and continuity of the system, a successful JORC update could unlock 2x–4x upside potential.