GPM Metals Inc Presentation Update - 2025-05-09 - Significant Strategic and...

This revision of GPM Metals Inc.'s presentation reflects a major strategic shift alongside substantial financial and operational updates. The most notable change is the transition from a joint venture interest with Rio Tinto to full ownership of the Walker Gossan project, combined with significant increases in cash reserves, warrants, and share issuance. These modifications indicate a decisive move toward project ownership and financial strengthening, providing a clearer picture of the company's evolving position and operational scope.

Page-by-Page Changes:

Page 1: The updated MD&A now covers a broader reporting period, specifically the three and nine months ending September 30, 2024, replacing the previous focus on the three months ending March 31, 2024. This shift enables a more comprehensive financial review. There are no explicit changes in revenue, profit, resource estimates, reserves, or project milestones. A key addition is the mention of warrants, options, and outstanding shares, though detailed figures are not specified here.

Page 2: No significant change; content remains aligned with the previous version.

Page 3: The most substantial modification occurs here. The old version described GPM's initial interest under a Two-Stage Earn-In/Joint Venture Agreement with Rio Tinto, including specific milestone payments and initial 51% interest, with a future potential increase to 75%. The new version announces that as of June 19, 2024, GPM transitioned to 100% ownership via a Sale and Purchase Agreement, with exploration licenses transferred to DPG Resources Australia Pty Ltd. The strategic focus shifts from exploration and partnership to full control, with no change in resource estimates or project milestones noted.

Page 4: No material change.

Page 5: This page details the transition from a joint venture to full ownership, emphasizing the June 19, 2024, sale agreement. It highlights Rio Tinto’s retained contingent payment rights based on future resource size or project decision. Exploration activities now include a scope of pre-study programs with specific activities and costs totaling $215,000 in 2024. Financial metrics such as revenue or profit remain unchanged.

Page 6: No significant changes in exploration activities, costs, or milestones are noted. The focus remains on ongoing review and permitting processes with no material updates on resource estimates or project progress.

Page 7: No change in financial performance discussion; the focus remains on operational metrics, expenses, and the dependency on future funding due to lack of current revenue.

Page 8: Similarly, no significant change; the summary of quarterly financials remains consistent, with no updates to income or expenses.

Page 9: The page was removed from the presentation. It previously contained detailed quarterly financial performance metrics for the first quarter of 2024.

Page 10: The previous page was removed. It included further quarterly financial details for the first quarter.

Page 11: Also removed; previously contained quarterly operational and financial summaries.

Page 12: Now highlights a dramatic increase in cash reserves from $253,476 (March 31, 2024) to $2,095,574 (September 30, 2024). Warrants outstanding expanded from 18,206,250 to 44,539,584, a significant rise indicating increased potential equity issuance capacity. Outstanding shares remained at approximately 83.78 million, with no explicit change noted. Liabilities decreased from $98,610 to $41,886, reflecting improved financial position. The ongoing care and maintenance at Walker Gossan continues with no material change in project milestones.

Page 13: Warrants outstanding increased sharply from 18,206,250 to 44,539,584, with expiry dates now including additional warrants expiring on September 4, 2026, and October 17, 2026. Stock options also show a change in expiry date (e.g., June 26, 2027 vs. June 1, 2024) and an increase from 5.9 million to approximately 6.9 million options outstanding. These changes signify increased potential dilution capacity.

Page 14: No significant change; content remains consistent.

Page 15: The page was removed—content previously detailed exploration activities and ownership structures.

Page 16: No change; content remains identical.

Page 17: No significant change; the section on financial instruments and capital structure remains consistent.

Page 18: No material change; content related to legal, regulatory, and political risks is unchanged.

Page 19: The page was removed; previously included detailed discussion on legal, environmental, and political risks.

Page 20: No significant change; the content on insurance, environmental hazards, and operational risks remains unchanged.

Page 21: The page was removed; it previously covered environmental and safety risks.

Page 22: No change; the section on internal controls and reporting remains consistent.

Page 23: The page was removed; previously outlined strategic updates and future exploration plans.

Page 24-25: New pages added, reflecting recent operational updates. These include postponement of exploration drilling to Q2 2025 due to infrastructure challenges, and the successful closing of a private placement raising approximately C$660,000, intended for exploration activities at Walker Gossan, with details on the offering structure and warrants.

Page 26: New addition summarizing financial performance for the recent nine-month period, including increased