A 22-year-old woman linked to a drug raid on the home of Mark "Bomber" Thompson has been refused bail after allegedly police nabbed her with a semi automatic handgun and more than 400 grams of ice.

Katia Drcec and her boyfriend Karl "Bang Bang" Holt, 31, were found with more than a 100 grams of methamphetamine, an ice pipe and $2380 in cash when police pulled over Mr Holt's Mercedes, bearing the licence plates "ONBA1L", near Geelong on January 4, Geelong Magistrates Court heard.

A subsequent raid at their Mill Park home, owned by her mother, turned up a semi automatic handgun, 336 grams of ice, an ill-gotten BAUM road bike worth $15,000, almost $20,000 in cash and electronic scales.

It is understood the the pair's business partner Thomas Windsor, 28, had been staying at Mark Thompson's Port Melbourne property, which was raided by police the following day.