Project Summary

The Cadoux aluminous clay (kaolin) deposit’s high quality and ideal metallurgical
characteristic is model feedstock for HPA process production. This high-quality alumina
product will provide a competitive advantage in the global HPA market.

The Cadoux Project area boasts excellent infrastructure and is host to shallow, flat lying
deposit with geology that is ideal for HPA processing. A detailed Definitive Feasibility
Study has been completed, reserves calculated, and the first 3 years of grade control has
also been completed.

The project area is 100% owned with permitting completed and no native title. The resource
supports over 100 years of production with a reserve of 3.2 million tonnes grading 24.8%
Al2O3 supporting a DFS mine life of over 25 years.

Highlights
  • Alcoa JV MOU attracts world class alumina attention
  • DFS confirmed Cadoux as a world-class
  • HPA project
  • Process flowsheet optimised to increase efficiencies + reduce Capex & Opex
  • Metallurgical results exceeded 99.99% target HPA*
  • Mining Lease granted and permitting completed
  • Advancing HPA offtake negotiations with potential customers
Outstanding Economic Metrics

US$

HPA cash cost per tonne

%

IRR

YEAR

Mine Life

US$M

Capex

US$M

Average Annual EBITDA

YEAR

Payback

US$M

After Tax NVP at 10%

US$M

Per Annum

Next Steps
  • Alcoa JV MOU attracts world class alumina attention
  • DFS confirmed Cadoux as a world-class
  • HPA project
  • Process flowsheet optimised to increase efficiencies + reduce Capex & Opex
  • Metallurgical results exceeded 99.99% target HPA*
  • Mining Lease granted and permitting completed
  • Advancing HPA offtake negotiations with potential customers
DEVELOPING A WORLD CLASS, INTEGRATED,
HIGH PURITY ALUMINA (HPA) PROJECT