Ann: Malingunde Scoping Study Presentation, page-2

What do you want more? Look at page 21

TECHNICAL

•   World’s largest, soft saprolite graphite resource
•   High-grade, low strip ratio
•   No requirement for drill & blast
•   No requirement for crush or primary grind
•   Marketableproductionvolume
  

FINANCIAL

- Best in class opex – strong cash generatio
- Best in class capex
- Access to low cost infrastructure
- Ability to enter existing & future markets
- Low capex will facilitate ease of funding

MALINGUNDE: THE WORLD’S BEST FLAKE GRAPHITE PROJECT

--> US$301/t Average OPERATING COST
--> US$29m Total DEVELOPMENT CAPEX
--> 44 kt Average ANNUAL PRODUCTION
--> 17 yrs Total MINE LIFE
--> <2 years Capital PAYBACK PERIOD
------> (or earlier if the Price is higher)