HIGHLIGHTS:• Comet to acquire 100% of Mt Margaret Copper Project...

HIGHLIGHTS:
• Comet to acquire 100% of Mt Margaret Copper Project from Glencore under
improved transaction terms
• Company will now raise $27m to fund acquisition and initial post-acquisition predevelopment activities – Equity component of the raise is now reduced due to
addition of debt financing (see below)
• Equity raise includes a $5m priority offer to existing Comet shareholders
• Glencore now to provide 3-year loan of $27m to Comet – Inclusion of the loan
delivers Comet shareholders substantially reduced up front dilution
• The Mt Margaret Copper Project successfully produced from open pit mining from
2012 until 2014, when operations were suspended due to the copper price
environment and outlook at that time
• Located only 7km from key processing infrastructure at Ernest Henry, where Mt
Margaret ore was previously processed into export quality copper concentrate
• JORC open-pit Resources of 13.0Mt at 0.78% copper and 0.24g/t gold with >95% in
the Measured and Indicated categories1
• Near-term production potential – 2 open pits already pre-stripped
• Significant potential for Resource growth through further exploration
• Defined high priority exploration targets – Both extensional and regional