Comments from the CDO of CLQ, page-3

Dr Stephen Grocott, Australian Institute of Mining and Metallurgy Presentation, November 2019:

"We have a great ore body. It is shallow. 50m deep maximum. The biggest operating cost is sulphuric acid, but we have very low acid consuming elements. This helps us with low OPEX."

"The autoclave is the biggest capital item. These are hydraulically limited vessels. So if you can thicken to a higher density, you can get more dirt per cubic metre into the slurry and you win, which is the case for CLQ"

"A lot of the flowsheet is relatively conservative, but one thing we have done differently is use continuous resin in pulp ion exchange technology."

"If we include all of the credits, we have very high equivalent nickel grades. We have the highest nickel equivalent grade of any comparable operation in the world"

"If I want to go from the plant to the mine it is a 3-minute walk. This isn't the case in most mines worldwide"

"Autoclaves have been purchased and are sitting in Port Pirie at the moment."

"We generate sulphuric acid on site. The steam is used for process heating and electricity generation. We will take 20 MW from the grid, although we generate a lot of energy ourselves."

"We neutralise the acid with limestone from a local mine"

"The scandium refinery is very small. You could fit it into this room. We will be producing 60 tonnes initially (can produce up to 300 tonnes) and we will initially sell between 5 and 10 tonnes per annum. The rest will be stockpiled in a warehouse to prove to the world the scale of supply available."

"We will have an ammonium sulphate by-product which we will sell to the local farming community"