EMERGING HIGH-GRADE MANGANESE OPPORTUNITY INVESTOR PRESENTATION - - PowerPoint PPT Presentation

EMERGING HIGH-GRADE MANGANESE OPPORTUNITY

INVESTOR PRESENTATION – JUNE 2018

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This presentation contains forward-look ing statements and factual information that are current as of the date the presentation was originally delivered. Wh en used in th is presentation, words such as “may”, “wou ld”, “cou ld”, “will”, “expect”, “anticipate”, “estimate”, “believe”, “contemplate”, “intend”, “budget” “plan” and oth er similar expressions are intended to identify forward-look ing statements. F

• rward-looking statements include, but are not limited to,

statements with respect to the timing and amount of estimated future exploration, success of exploration activ ities, expenditures , permitting, and requirements for additional capital and access to data. F

• rward-looking statements

involv e known and unknown risks, uncertainties, and oth er factors which may cause the actual results, performance or achiev ements of Giyani Metals Corp. (the “C

• mpan

y”) to be materially different from any future results, performan ce

• r achievements expressed or implied by the forward-looking statements

. Such factors include, among oth ers, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; th e ability to enter into joint v entures or to acqu ire or dispos e of pr

• perties; future prices of commodities;

fluctuations in currency markets; operating or technical difficulties in relation to the speculative nature of exploration and development; accidents, employee relations (including labour disputes) and other risks of the gold industry; ability to obtain financing; changes in costs and estimates associated with the Company’s projects; legislative, political or econ

• mic dev

elopments in the jurisdictions in which the Company carries on business; requirements for additional capital; and regulatory restrictions including delays in obtaining gov ernmental approvals . Although the Compan y has attempted to identify important factors that could cause actual results to differ materially from thos e contained in forward-look ing statements, there may be other factors that cause results not to be as anticipated, estimated or

• expected. Th

e Compan y disclaims any intention or obligation to update or revise an y forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable law.

F O R W A R D L O O K I N G - S T A T E M E N T S

• GIYA NI’S COR PORA TE OBJ ECTIV E IS T O BE COME A LEA DING INDEPENDE NT S UPP LIER OF L OW-

COS T HIGH-GRA DE F EEDS TOCK MA NGA NES E F OR THE BA TTERY INDUS TRY

• THE COMPA NY IS CU RRENT LY DEV ELOP ING THREE P ROS PECTS

(K.HI LL , OTS E, A ND L OBA TS E ) WITHIN ITS LA RGE LA ND PA CKA GE OF 8, 135 S QUA RE KIL OMETERS , L OCA TED IN THE KA NYE BA S IN, S OUTHEA S TERN B OTS WA NA , A F RICA . THES E PROS PECTS E NCOMPA S S S EV ERA L PA S T PRODUCING MA NGA NES E MINES

• PHA S E-ONE

OF 2018 OPERA TI ONA L P ROGRA M UNDE RWA Y Q2/ Q3, INC LUDING G ROUND GEOPHYS ICA L S URV EYING A ND A DIA MOND DRILLING CA MPA IGN

• MA GNETIC A ND GRA V ITY GEOPHYS ICA L S URV EYING COMPLETED A T K.HILL A ND OTS E. DRILLING

COMPLETED A T K.HILL.

• HYDROMETA LLURGICA L TES TING COMMENCED MA Y 31, 2018
• NEA R S URF A CE DEPOS ITION MA KES IT RELA TIV ELY EA S Y A ND LOW-COS T TO OPEN PIT MINE A T

THE K.HILL A ND OTS E

• LOW LEV ELS OF IMPUR ITIES A L LOW F OR COS T EF F ECTIV E A ND S IMPLE BENEF I CIA TION PRO CES S

TO UPGRA DE THE ORE TO A BA TTERY GRA DE MA NGA NES E

A U N I Q U E O P P O R T U N I T Y

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• 8 8 -1 00 % I N TER EST I N AN EX TEN SI V E LAN D P AC K AG E C O VER I N G 8 , 1 3 5 SQ UAR E K I L O MET ER S I N

SO UTHEASTER N B O TSWAN A

• SEV ER AL HI GH -GR AD E MAN G AN ES E O C C UR R EN C ES WHI C H P R O V I DES GI Y AN I WI TH A P I P EL I N E O F

MUL TI P L E P R O JEC TS TO C O LLEC TI VELY FO R M A LAR GE-SC AL E R ESO UR C E

• C L O SE P R O X I MI TY

TO TH E TO WN S O F K AN YE, O T SE, AN D LO B AT SE WI T H AC C ES S TO GO O D I N FR ASTR UC TUR E, R AI L AN D R O AD SYSTEMS, WATER AN D EL EC TR I C I TY

• O P TI O N S

TO SHI P O UT O F 5 SEAP O R TS AC C ESSI B L E V I A R AI L N ETWO R K S AN D STR ATE GI C AL L Y L O C ATED FO R C O ST EFFEC TI VE SHI P P I N G TO C HI N A AN D I N DI A

• B O TSWAN A

I S O N E O F TH E MO ST AT TR AC TI V E AFR I C AN JUR I SDI C TI O N S SUP P O R TI N G MI N I N G O P ER ATI O N S WI TH FAVO R AB L E TAX R EGUL ATI O N S AN D EFFI C I EN T GO VER N MEN T P R O C ESSES

T H E P R O P E R T Y

KANYE PROJECT MANGANESE PROSPECT

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M A N G A N E S E R I C H R E G I O N

W I T H I N T H E K A L A H A R I B A S I N

2.3 million tonnes P/A 37% Manganese 2.9 million tonnes P/A 37% Manganese 3.8 million tonnes P/A 37% Manganese 1.8 million tonnes P/A 33% Manganese 2 million tonnes P/A 35% Manganese Privatly owned (unknown production

• r grade)

2.5 million tonnes P/A 40% Manganese

ESTIMATED PRODUCTION AND GRADE LEVELS OF SOUTH AFRICAN KA LAHARIMANGANESE MINES

Source: Public companies annual reports and third party research.

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G R O W I N G D E M A N D F O R L I T H I U M - I O N B A T T E R I E S

• D E M A N D F O R

B A T T E R I E S I S G R O W I N G E X P O N E N T I A L L Y A S G L O B A L S A L E S O F E L E C T R I C V E H I C L E S A R E F O R E C A S T E D T O I N C R E A S E F R O M 1 . 1 M I L L I O N I N 2 0 1 7 T O 1 1 M I L L I O N I N 2 0 2 5 A N D T H E N S U R G E T O 3 0 M I L L I O N I N 2 0 3 0 *

• B Y

2 0 4 0 5 5 % O F A L L N E W C A R S A L E S A N D 3 3 % O F G L O B A L F L E E T W I L L B E E L E C T R I C *

• E L E C T R I C

V E H I C L E C O S T W I L L B E C O M E C O M P E T I T I V E W I T H O U T S U B S I D I E S S T A R T I N G I N 2 0 2 4 A N D W I L L R E A C H P A R I T Y W I T H I N T E R N A L C O M B U S T I O N E N G I N E V E H I C L E S B Y 2 0 2 9 *

• L I T H I U M - I O N

B A T T E R Y M A N U F A C T U R I N G C A P A C I T Y I S 1 3 1 G W H P E R Y E A R I N 2 0 1 8 J U M P I N G T O 4 0 0 G W H P E R Y E A R B Y 2 0 2 1 B A S E D O N E X I S T I N G A N D U N D E R C O N S T R U C T I O N P L A N T S *

• T H E

G R O W T H O F E L E C T R I C V E H I C L E S R E Q U I R E S A D R A M A T I C S C A L E - U P I N T H E B A T T E R Y S U P P L Y C H A I N I N C L U D I N G M A N G A N E S E

• O T H E R

E N E R G Y S T O R A G E A P P L I C A T I O N S L I K E R E S I D E N T I A L A N D G R I D - S U P P O R T A R E A L S O G R O W I N G A N D D R I V I N G D E M A N D F O R B A T T E R I E S

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* Source: Bloomberg New Energy Finance 2018

R I S I N G D E M A N D F O R M A N G A N E S E B Y B A T T E R Y M A K E R S

• M A N G A N E S E

I S R E Q U I R E D I N T W O O F T H E M O S T P R O M I N E N T B A T T E R Y C A T H O D E C H E M I S T R I E S , N I C K E L - M A N G A N E S E - C O B A L T ( N M C ) A N D L I T H I U M - M A N G A N E S E - O X I D E ( L M O )

• N M C

B A T T E R I E S C O N T A I N 7 0 % L E S S C O B A L T T H A N S O M E C U R R E N T B A T T E R I E S A N D W I L L B E A D O P T E D I N C R E A S I N G L Y D U E T O R I S I N G C O B A L T P R I C E S *

• P R E V A L E N C E

O F T H E N M C B A T T E R Y W I L L D R I V E D O W N T H E C O S T O F B A T T E R Y P A C K S A C C E L E R A T I N G T H E P A C E T O M E E T E V A D O P T I O N L E V E L T A R G E T S

• D E M A N D

F O R T H E C O M P O N E N T S O F T H E L I T H I U M - I O N B A T T E R I E S W I L L I N C R E A S E F R O M ~ 0 . 7 M I L L I O N M E T R I C T O N S I N 2 0 1 8 T O O V E R 1 0 M I L L I O N M E T R I C T O N S I N 2 0 3 0 *

• R A W

M A T E R I A L P R I C E S A R E S E T T O R I S E , S P E E D I N G U P T H E A D O P T I O N O F L O W - C O B A L T B A T T E R Y C H E M I S T R I E S *

• U M I C O R E ,

O N E O F T H E L A R G E S T B A T T E R Y C A T H O D E S U P P L I E R S , A N N O U N C E D A N I N V E S T M E N T P R O G R A M O F € 3 0 0 M I L L I O N B E T W E E N 2 0 1 7 A N D 2 0 1 9 T O I N C R E A S E I T S P R O D U C T I O N O F N M C C A T H O D E M A T E R I A L S

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* Source: Bloomberg New Energy Finance 2018

K . H I L L A N D O T S E P R O S P E C T S

K.Hill Prospect near the town of Kanye Otse Prospect near the village of Otse

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▪ MULT IP LE S U RF A CE O UT CR O PS O F UNIQUE HIGH-GRA DE MA NGA NES E ▪ THE MA N GA NES E MIN ED A T K.H IL L 1 957 - 1967 C ONS IS TED , A LM OS T E NTI RE LY, O F HIGH -G RA D E MA NGA NES E OX ID E NODULES ▪ THE GIYA NI GE OL OG ICA L TEA M L OCA TE D MULT IP LE A REA S W HER E THES E NO DU LE S A RE S TILL PRES ENT TODA Y ▪ THE MA NGA NES E ORE D EP OS ITS A T K.HI L L WER E F ORM ED BY O XIDA T IO N A N D S UPE RGE NE E NR IC HME NT RES U LTI NG I N A V ERY S TA B LE F O RM OF MA NGA NES E OXI DE (S O UR CE : B OTS WA NA N OTES A N D RECORDS V OL.30) ▪ CHEM ICA L S TA BI LIT Y OF K.H IL L MA NGA N ES E O RE MA KES I T C OS T EF F ECTIV E TO S TORE, A ND TRA NS PORT

K A N Y E B A S I N M A N G A N E S E

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▪ 1,500 TO 2,000 METERS OF DIA MOND DRILLING ▪ ES TIMA TED 25 COLLA RS ON A 100 METER S PA CED GRID ▪ MA XIMUM 80 METER DEEP DRILL HOLES ▪ TWO PRIORITY BLOCKS IDENTIF IED A T EA CH OF THE PROS PECTS , K.HILL, A ND OTS E ▪ 2-3 F ENCES OF HOLES PER BLOCK ▪ DENS IT Y OF GR ID RE QUI RE D F O R 3 -D MO DEL LI NG , C ONF IDE NC E IN S TR IKE C ONT IN UITY , DIP OF MIERA LIZ ED BODY, A ND ES TA BLIS HING V A RIA TION IN GRA DE ▪ 3-D GEO L OGI CA L MO DEL , A ND BL O CK RES O U RCE M OD EL T O BE US ED I N CA LC U LA TI NG A RES OURCE ES TIMA TE A T K.HILL ▪ 3-D GE O LO GI CA L MO DE L A N D GE OTE CH NI CA L DA TA TO BE US E D I N PRE LI MINA RY MIN E PLA N DES IGN ▪ META L LU RG ICA L A N D MI NERA L P R OC ES S IN G T O BE US ED T O ES TA BL IS H H IGH LEV E L ECO N OMI C F A CT O RS F O R EXT RA CTI ON , P RO CES S -A BI LITY , A ND P RO DU CTI O N OF A BA TTERY GRA DE PRODUCT ▪ ULT IMA TE GOA L IS T O PR OD U CE A 43 -10 1 CO MP LA I NT REP O RT WIT H A RES OU RC E ES TIMA TE

H I G H L I G H T S O F F I E L D P R O G R A M Q 1 / Q 2 - 2 0 1 8

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F I E L D P R O G R A M T I M E L I N E

SUMMARY: 2 WE E KS OF SI T E I NSPE CTI ON, SCOPE OF WORK DE F I NI TION, AND CONT RACTOR AGREE MENT 2 WE E KS OF F I E LD PROGRAM DE SI GN, GE OPHYSICS T ARGET DE FI NI TI ON, AND DRI LLI NG PLAN DE VELOPMENT 10 WE E KS OF GE OPHYSI CAL SURVEYI NG AND I NT E RPRET AT ION, DRI LLING, GE OCHEMICAL ANALYSI S 8 WE E KS HYDROME T ALLURGICAL T E STI NG, 3D MODE LI NG, RE SOURCE E ST IMATI ON AND 43- 101 RE PORT 4 WE E KS T O COMME NCE T RI AL MI NI NG AND PROCE SSING PLANT DE SIGN 6 WE E KS T O ST ART E NVI RONMENT AL I MPACT ANALYSI S AND PRE PARE F OR F ULL MI NI NG PE RMI T APPLI CATI ON

• Site Inspection
• Contractor

Agreements

• Finalizing

Scope of Work

01 – 15 March

• Field Program

Design

• Geophysics

Target Definition

• Drilling Plan

Development

15 – 31 March

• Drilling Campaign
• Geophysical

Surveying

• Geological Logging,

Sampling, and Analysis

• Geophysical

Interpretation and Analysis

• Environmental

Management Plan

01 April – 15 June

• Hydrometallurgi

cal Testing

• 3D Modelling

and Resource Estimation

• NI 43-101

Compliant Report

01 June - 31 July

• Start of Trial

Mining

• Processing Plant

Design

• Off-Take

Agreement

15 July – 15 August

• Environmental

Impact Analysis

• Mining Permit

Application

01 Aug – 15 Sep

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✓ ✓

⏳

• 970

METRES COMPLETED AT K.HILL IN 16 DRILL HOLES OUT OF 19 PLANNED

• MANGANESE

MINERALIZATION INTERSECTED IN MULTIP LE LAYERS

• 221 S AMPLES COLLECTED AND

SENT FOR GEOCHEMICAL ANALYSIS

D R I L L I N G A T K . H I L L

AS OF MAY 20, 2018

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D R I L L C O R E S F R O M K . H I L L

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• AIRBORNE MAGNETIC DATA, AT A

250-METER LINE SPACING, WAS FILTERED, IMAGE PROCESSED AND INVERTED

• RESULTS USED IN MAPPING THE

LOCATIONS OF PROSPECTIVE GEOLOGY

• LITHOSTRUCTURAL MAPPING

IDENTIFIED PROSPECTIVE AREAS FOR MANGANESE

• ONGOING GROUND SURVEYS WILL

PROVIDE VALUABLE INFORMATION TO IDENTIFY SUBTLE MAGNETIC CONTACTS WHICH WILL ALLOW FOR DETAILED MAPPING OF THE MANGANIFEROUS SHALE

A E R O M A G N E T I C I N T E R P R E T A T I O N

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• 2343

R EAL TIME KINEMATIC (R TK) AND GR AVITY S TATIONS AND 128 KILOMETR ES OF MAGNETIC WALK-LINES COMP LETED AT K.HILL

• 598 R EAL TIME KINEMATIC

(R TK) AND GR AVITY S TATIONS AND 27 KILOMETR ES OF MAGNETIC WALK-LINES COMP LETED AT OTS E

G R O U N D G E O P H Y S I C S A T K . H I L L & O T S E

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• Process report
• Environment impact

studies

• Environmental

management plan

• Initial resource

estimates

• Complete 2000 m

diamond drilling program

• Complete ground

and gravity geophysics

• Metallurgical studies

R O A D M A P

Q2 2018 Q3 2018 Q4 2018 Q1 2019

• Plant design
• Plant costing
• Mine plan
• Off-take partners
• Economic impact

assessment

• Pilot testing
• Product testing and

proto-typing

• Mine permitting
• Pilot production
• Mine construction
• Vertical integration

Testing Design Execution Production

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E S S E N T I A L A T T R I B U T E S O F A S U C C E S S F U L M I N E

GRADE

FOR ALL COMMODITIES, GRADE DRIVES THE THE ECONOMICS IN MINING

SCALE

LARGE RESOURCES RESULT IN LARGE PRODUCTIO N VOLUME AND DRIVES LONG TERM REVENUES AND PROFITS

MANAGEMENT

EXPERIENCED MANAGEMENT TEAM ENSURES FUL L POTENTIAL IS REALIZED

JURISDICTION

MATURE MINING CULTURE, STABLE POLITICAL SYSTEM, GOOD INFRASTRUCTURE, AND FAVOURABLE TAX REGULATIONS AND BUSINESS ENVIRONMENT

METALLURGY

HIGH-GRADE AND LOW-IMPURITIES RESULT IN COST- EFFECTIVE PROCESSING AND BENEFICIATION

SCALE MANAGEMENT JURISDICTION METALLURGY GRADE

G I Y A N I ’ S K A N Y E M A N G A N E S E P R O J E C T H A S A L L O F T H E A T T R I B U T E S O F A S U C C E S S F U L M I N E

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B O T S W A N A M I N I N G A D V A N T A G E

Botswana Namibia Zambia South Africa Botswana GDP from Mining in Billion BWP

12.5 14.6 11.1 11.7 11.2 13.9

• BOTS WA NA

IS ONE OF THE MOST ATTRA CTIVE MINING J URISDICTIONS IN S OUTHERN AF RICA WITH POLITICA L S TA BILITY A ND TRA NS PARENCY

• 26%

INV ES TMENT ADV A NTA GE COMPA RED TO NEIGHBOURING COUNTRIES WITH A CTIVE BLA CK ECONOMIC EMPOWERMENT (BEE) REGULATIONS

• GIYA NI

IS DEV ELOPING THE ONLY MA NGA NESE PROJ ECT IN BOTS WANA

• GOV ERNMENT ROYA LTY IS 3% F OR BAS E META LS
• THERE IS NO IMPORT TA X ON MINING EQUIPMENT

A ND S PA RES

• VA RIA BLE INCOME TA X RATE IS 25% A ND A 5 YEA R

TA X EXONERA TION

• S ATISF A CTORY

F IS CA L REGIME, 100% CA PITA L REDEMPTION

Angola Madagascar Zimbabwe DR Congo Mozambique Tanzania 2011 2012 2010 2013 2014 2015

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I N V E S T M E N T H I G H L I G H T S

• A CCELERA TE

THE KA NYE MA NGA NES E PROJ ECT INTO PRODUCTION

• BEC OME

THE LEA DIN G S U PP LIE R OF S U PE RI OR F EEDS T O CK MA NGA NES E TA IL O RED T O T HE BA TTERY INDUS TRY

• KA NYE MA NGA NES E IS HIGH-GRA DE

A ND EA S Y TO MINE

• LOW CA PEX REQUIREMENTS

TO GET TO PRODUCTION

• LOW OPEX TO S US TA IN PRODUCTION

IN A F A V OURA BLE MINING J URIS DICTION

• UPS I DE

F O R A P R OJ EC T GEN ERA T IV E MO DE L WI TH MU LT IP LE MA N GA NES E O CC U RRE N CES THROUGHOUT GIYA NI’S PROPERTY

• MULT IP LE OF F -TA KE OPT IO NS WITH BA TTE RY A ND CA R MA N UF A CTU RE RS A S A P RIMA RY TA RG ET

WITH S TEEL A ND META L A LLOY MA KERS A S A S ECONDA RY MA RKET F OR EXCES S PRODUCTION

• HIGHER RETURN

F OR S HA REHOLDERS

• A DDITI O NA L A S S ETS I N CL UDE 4 5% INTE RES T I N R O CK IS LA N D GO LD P R OJ EC T IN S O UTH A F RI CA

(~$2M) A ND 20% INTERES T IN CA NOE MINING V ENTURES CORP (~$1.8M)*

* A s o f F e b r u a r y . 1 2 . 2 0 1 8

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M A N A G E M E N T

R O B I N B I R C H A L L

• Mr. Robin Birchall brings more than

eighteen years of exp erience in the financing and ma nagement

• f

resource companies, most recently as the Executi ve Chairma n of Silver Bear Resourc es and CE O

• f

a private E &P compa ny as well as V.P. Investmen t and Corporate Banking with BMO Capita l Marke ts. Mr. Birchall earned an MBA from the University of Cape Town, a Msc in European and I nternational Politics from Edinb urgh Uni versity, a Première Degré en Langues Literature e t Civi lisation, from Stendahl U niversité and a BA from Queens University. W A J D B O U B O U

• Mr. Wajd Boubou is an experienced

executive with a 26-year his tory of achievements in the Oil & Gas and Telecommunica tions i ndustries. Skil led in Operations Managemen t, People and Fi nancial Managemen t, Complex Contract Negotia tions, and Business

• Strategy. Mr. Boubou held various

leadership positions i n mul tina tional conglomerates, incl uding Schlumberger and Cisco Systems. He holds a bac helor’s degree in Electrical Engineering and MBA from the University of Strathclyde in the UK. D A N C R A N D A L L

• Mr. Dan iel Cra ndall

is a Senior Manager at Marrelli SupportServices

• Inc. possessing
• ver

10 years

• f

experience working wi th public

• companies. He speciali zes in providing

Chief Fina ncial Officer, accoun ting, regulatory compliance, and management advisory services to numerous issuers

• n the

TSX, TSX- Venture, CSE and other in ternational

• exchanges. Dan is a CPA, CA a nd has

an Honours Bachelor of Accoun ting (Co-op)degree fromBrock Uni versity . Previously, he was a Ma nager at Collins Barrow Toronto LLP, a public accounting firm where he worked for

• ver five years.

C E O

• D I R

E C T O R P R E S I D E N T C F O

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M I C H A E L J O N E S

• Mr. Jones is a Professional Mining

Engineer who held various mi ne management roles for 13 years working a t Gencor, De Beers, Debswana a nd as Consul ting Mi ning Engineer for Iscor. D I R E C T O R

DIRECTORS

E U G E N E L E E Mr. Lee is a min ing fina nce professi

• nal

with experience in capital markets, financia l reporting, risk ma nagement, internal con trols and corporate governance.

• Mr. Petersen is a lawyer, a CPA

and global thought leader on energy and sustainability issues. He currently serves as Executive VP of ePower Engine Systems. J O H N P E T E R S E N

• Mr. Petersen is a la wyer, a CPA and

global thoug ht leader on energy and sustainabili ty issues. He c urrently serves as Executi ve VP of ePower Engi ne Systems. S C O T T B R E A R D Mr. Breard is a mar keting professi

• nal

wi th significa nt experience in start-ups and

• rebranding. He

has consul ted for many Fortune 500 companies. D I R E C T O R D I R E C T O R D I R E C T O R D U A N E P A R N H A M C H A I R M A N

• Mr. D uane Parnham has a s uccessful

track-record

• f

developing companies from start-up to ful ly permitted projects. Mr. Parnham delivers maximum s hareholder value through extensi ve experience in corporate governance, stakeholder relations and capital markets.

21

S H A R E S T R U C T U R E

TSXV:WDG $21.26 million Symbol Share Price* Basic Shares W arrants Options FD Shares Market Capitalization $0.26 81,779,628 5,531,541 4,900,000 92,211,169

*share price as of June 05, 2018

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T S X V : W D G

Giyani Metals Corp.

277 Lakeshore Road East Suite 403 Oakville, Ontario, Canada L6J 6J3 289- 837-0066 info@giyanimetals.com

G E R M A N Y : A 2 D U U 8

Giyani is a publicly trading, vertica lly integrated, well managed junior resource company focused on build ing a superior hybrid mining company to supply raw materials needed for the fast growing global battery technology industry. www.giyanimetals.com

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MARKET RESEARCH SLIDES

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W H Y M A N G A N E S E

• I N

M A R C H 2 0 1 8 , G L O B A L M A N G A N E S E O R E D E M A N D W A S H I G H E R T H A N G L O B A L S U P P L Y B Y 1 3 2 , 0 0 0 N E T M E T R I C T O N N E M N U N I T S A S O U T P U T F R O M T H E L A R G E S T S U P P L Y I N G R E G I O N , A F R I C A & T H E M I D D L E E A S T , C O N T R A C T E D B Y 5 % M . O . M M A I N L Y D U E T O D R O P I N P R O D U C T I O N F R O M S O U T H A F R I C A , G A B O N , A N D I V O R Y C O A S T

• A

3 2 % M . O . M I N C R E A S E I N D E M A N D F R O M T H E A S I A & O C E A N I A R E G I O N R E S U L T E D I N A 7 7 5 , 0 0 0 N E T M E T R I C T O N N E M N U N I T S D E F I C I T D E S P I T E A 2 2 % M . O . M I N C R E A S E I N O U T P U T 25

–

6

• ’

B A T T E R Y C H E M I S T R I E S

THER E AR E VAR I O US B ATTER Y C ATHO DE C HEMI STR I E S THAT USE DI FFER EN T METAL S. N MC I S P R O VI N G TO B E THE MO ST WELL R O UN DED C ATHO DE C HEMI STR Y B AL AN C E D P ER FO R M AN C E ( EN ER G Y D EN SI T Y, TH ER MAL S TA B I L I T Y, C H AR G E R AT E, B A T T ER Y L I FE, R EP L AC EMEN T C O ST) GI YAN I I S FO C USED O N DEVELO P I N G HI GH-GR AD E MAN GAN ESE SUP P L I ES.

LCO LMO LFP NMC NCA LTO

Lithium Cobalt Oxide

LiMn2O4 LiCoO2

Lithium Nickel Cobalt Aluminum Oxide Lithium Nickel Manganese Cobalt Oxide Lithium Iron Phosphate Lithium ManganeseOxide Lithium Titanate

LiNiMnCoO2 LiFePO4 LiNiCoAlO2 Li4Ti5O12

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M A N G A N E S E B A T T E R Y C H E M I S T R I E S

Lithium Manganese Oxide LiMn2O4 (LMO) Lithium Nickel Manganese Cobalt Oxide (NMC) NMC METAL COMPOSITION

61% 1% 4% 33% MANGANESE COBALT NICKEL LITHIUM OTHER

LMO METAL COMPOSITION

19% 20% 20% 7% 33% MANGANESE COBALT NICKEL LITHIUM OTHER

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B A T T E R Y C O S T S T R U C T U R E

GI YA NI ’ S ST RA T EG Y I S TO B E IN TH E S W EE T SP O T O F B ECO MI NG TH E LE AD I NG F E ED ST OCK M ANG AN E S E SU PPL I ER T O TH E M AK ER S O F TH E H IGH EST COST ITEM IN A LITH IUM -ION BATTERY, TH E CATH OD E. 28

G L O B A L L I - I O N B A T T E R Y C A T H O D E M A R K E T

SOURCE: KEMETCO RESEARCH

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D E M A N D F O R M E T A L S

( W O R L D B A N K E N E R G Y A N D E X T R A C T I V E )

207% 1060% 174% 383% 139% 210% 169% 135% 215% 214% 1060% 1060% 215% 136% 65% 3% 61% 42% 59% 66% 61% 59% 56% 69% 3% 3% 61% 56%

0% 200% 400% 600% 800% 1000% 1200% Aluminium Cobalt Copper Lead Nickel Silver Steel Zinc Chromium Indium Lithium Manganese Molybdenum Neodymium Base Metals Rare Earth Metals

Total Demand

• f

Metals Through 2050 (as percentage change from 6 Degree Scenario)

2 Degree 4 Degree Source: WB Analysis Note: Values are derived from mean value

• f

‘metal per MW’ demand

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TECHNICAL SLIDES

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K . H I L L G E O L O G I C A L M O D E L

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K . H I L L I N T E R L A M I N A T E D M A N G A N I F E R O U S S H A L E U N I T

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H I G H G R A D E M I N E R A L I Z E D S H A L E G R A D I N G U P T O 7 3 % M N O A L O N G 5 0 0 M E T E R S S T R I K E L E N G T H W I T H I N A 1 0 - M E T E R - T H I C K , 1 K M X 1 K M E N V E L O P E

K . H I L L A S S A Y R E S U L T S

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O T S E A S S A Y R E S U L T S

H I G H G R A D E M A N G A N E S E , U P T O 6 7 . 4 % M N O A T T H E O T S E P R O S P E C T , 4 0 K M E A S T O F T H E K . H I L L P R O S P E C T

0-900MM 0-900MM +900MM 0-250MM 75-250MM <0.5-75M M 6-75MM 0.5-6MM <0.5MM <0.5MM

RUN OF MINE FEED

LUMPY PRODUCT STOCKPILES FINES PRODUCT STOCKPILE FINES DISCARD MOBILE ROCK BREAKER SECONDARY SCREENING PRIMARY CRUSHING SCREENING FINES DISCARD HANDLING PLANT SERVICES MAKE UP WATER RESERVOIR

S I M P L E , E C O N O M I C A N D F A S T P R O C E S S I N G

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