Ann: Shareholder Presentation January 2019, page-5

Source: AXINO Newsletter Breaking news: Quarterly report as at 31.12.2018 and detailed company presentation At the shareholder meetings in Germany and Switzerland, the only 14 months in office standing Executive Chairman, David Frances, had a surprise in the luggage. With a simple water treatment plant, Tiger Resources could start profitable cobalt production in the first half of 2020 and generate a significant additional source of cash for the company. At the same time, copper production is set to rise steadily. The copper price is expected at 3 USD / lb at least constant. The management is now trying to persuade the big financiers to make capital restructuring that is beneficial to all those involved. 100 million debts are appropriate, but not 200 million so the restructuring. The 1,000 employees on Kipoi should also be reduced by 1/3. Through the World Bank as a shareholder and lender, Tiger has a significant advantage: it is the only company that could document ethical cobalt production in the account. By the way, approximately $ 100 million of cobalt equivalent is in the leach tanks. The processing plant would cost about $ 34 million, which is why David Frances headed to Cape Town to meet investors and lenders. Also, the purchase contract with Gerald Metals is not optimal and needs to be renegotiated. Another potential he sees in the existing sulfide ore, which confirm up to 6% copper content. In a second step, he is looking for a processing plant for the sulphide deposit, which could also process ore from surrounding deposits. The chairman was able to convince with facts and is confident that he can put Tiger in a completely new light in two years. He is convinced that this would be much easier with a de-listing and a re-listing in two years. He left disallowed open and mentioned this measure using the example of Mawson West, in which he once carried out this value lift with a 260 million IPO. He also sees this possibility for Tiger and believes that if the price of copper remains stable and the conditions in the Congo do not deteriorate, a valuation of approximately $ 400 million is not unrealistic. An IPO in 2021 on this scale is his goal.