05 Oct 2021

Scoping Study Presentation on Lake Throssell

5 OCT 2021 ASX: TMG Level 1, Office E, 1139 Hay Street, West Perth, Western Australia 6005 T R I G G M I N I N G . C O M . AU (08) 6114 5685 info@triggmining.com.au Scoping Study Results Presentation Trigg Mining Limited ( ASX: TMG ) ( Trigg or the Company ) is pleased to release a copy of its Scoping Study Results Presentation on its flagship 100%-owned Lake Throssell Sulphate of Potash (SOP) Project. This announcement was authorised to be given to ASX by the Board of Directors of Trigg Mining Limited. Keren Paterson Managing Director & CEO Trigg Mining Limited For more information please contact: Keren Paterson Managing Director & CEO Trigg Mining Limited (08) 6114 5685 info@triggmining.com.au Nicholas Read Investor and Media Relations Read Corporate (08) 9388 1474 nicholas@readcorporate.com.au Lake Throssell Potential Top 10 Global Sulphate of Potash Producer Scoping Study Results 5 October 2021 ASX : TMG #mining4farmers Trigg Mining: Building mines communities can be proud of Cautionary Statement This presentation ( Presentation ) is for informational purposes only and is not a prospectus, disclosure document or offer document under the Corporations Act 2001 (Cth) ( Corporations Act ) or any other law. This Presentation does not constitute, and is not to be construed as, an offer to issue or sell, or a solicitation of an offer or an invitation to subscribe for, buy or sell securities in Trigg Mining Limited ACN 168 269 752 (ASX:TMG) ( Trigg or the Compan y). The Scoping Study referred to in this is Presentation is based on the Scoping Study released by Trigg to ASX on 05 October 2021 titled “Positive Scoping Study for Lake Throssell Sulphate of Potash Project following Mineral Resource Upgrade”(Scoping Study Announcement). The Company advises the Scoping Study referred to in this Presentation has been undertaken to determine the potential viability of the Lake Throssell Sulphate of Potash Project (the Project ) in Western Australia. The Scoping Study is a preliminary assessment based on low accuracy technical and economic assessments (±25-35% Class 5). It is insufficient to support the estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Scoping Study will be realised. Further exploration and evaluation work and appropriate studies are required before the Company will be able to estimate any Ore Reserves or to provide any assurance of an economic development case. The Scoping Study is based on the material assumptions outlined in the Scoping Study announcement. These include assumptions about the availability of funding. While the Company considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved. The Inferred and Indicated Mineral Resource estimate underpinning the production target was prepared by a competent person in accordance the JORC Code (2012). Over the payback period 82% of the production target is sourced from Indicated and 18% from Inferred Drainable Mineral Resources. Over the life of mine 70% of the production target is derived from Indicated Drainable Resources and 41% of the Total Drainable Mineral Resource estimate is scheduled over the life of mine. The inclusion of the Inferred Drainable Mineral Resource in the production target does not impact technical or financial viability. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Measured or Indicated Mineral Resources or that the Production Target or preliminary economic assessment will be realised. To achieve the range of outcomes indicated in the Study, funding for capital and working capital requirements in the order of $412 million will likely be required. Investors should note that there is no certainty that the Company will be able to raise that amount of funding when needed. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Trigg’s existing shares. It is also possible that Trigg could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the Project. If it does, this could materially reduce Trigg’s proportionate ownership of the Project. The Project will need environmental approvals and the grant of a mining lease. Although the Company currently sees no impediment to acquiring these, there is no guarantee that the Company will be able to obtain these or obtain them within the timeframe proposed in the Project development schedule. The Scoping Study results contained in this Presentation relate solely to the Project and does not include Exploration Targets or Mineral Resources defined elsewhere. The Company has concluded it has a reasonable basis for providing the forward-looking statements included in this Presentation. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study and this Presentation is not and should not be considered as, an offer or invitation to acquire securities in TMG. 2 DISCLOSURES AND DISCLAIMERS TRIGG M INING LIM ITED Forward Looking Statements This Presentation contains ‘forward-looking statements’ that are based on TMG’s expectations, estimates and projections as of the date on which the statements were made. These forward-looking statements include, among other things, statements with respect to prefeasibility and definitive feasibility studies, TMG’s business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘potential’, ‘likely’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘would’, ‘could’, ‘should’, ‘scheduled’, ‘will’, ‘plan’, ‘forecast’, ‘evolve’ and similar expressions. Persons reading this Presentation are cautioned that such statements are only predictions, and that TMG’s actual future results or performance may be materially different. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause TMG’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Scoping Study Announcement. Except where required by law or the ASX Listing Rules, the Company doesn’t not intend to update or revise the forward-looking statements in this Presentation in the future. Key Assumptions Average LO AUD M USD / exchange rate of 0.73, SOP Price of US$550/t LOM and 8% discount rate. All dollar values are in Australian dollars (A$ or AUD) unless otherwise stated. Figures, amounts, percentages, estimates, calculations of value and other factors used in his presentation are subject to the effect of rounding. Competent Person Statement The Mineral Resource Estimate was first announced, together with a Competent Person’s Statement from Mr Adam Lloyd of Aquifer Resources Pty Ltd, on 05 October 2021 in the announcement titled “Positive Scoping Study for Lake Throssell Sulphate of Potash Project following Mineral Resource Upgrade”. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, Exploration Target or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements; and that the information in the announcement relating to exploration results is based upon, and fairly represents the information and supporting documentation prepared by the named Competent Persons. Production Targets and Financial Forecasts The production target was first announced on 05 October 2021 in the announcement titled “Positive Scoping Study for Lake Throssell Sulphate of Potash Project following Mineral Resource Upgrade”. The Company confirms that it is not aware of any new information or data that materially affects the assumptions underpinning the production target or the forecast financial information derived from the production target. 3 DISCLOSURES AND DISCLAIMERS cont. TRIGG M INING LIM ITED 4 SCOPING STUDY HIGHLIGHTS THE LAKE THROSSELL SULPHATE OF POTASH PROJECT TRIGG M INING LIM ITED Nameplate Production 245ktpa Life of Mine 21 years EBITDA $97M annually CAPEX $378M (incl. $70M contingency) C1 Cash Cost $341/t SOP (US$249/t) AISC $372/t (US$272/t) NPV $364M IRR 18% Payback 4.5-years Potential Global Top 10 & Lowest Cost Quartile Producer TIER 1 PROJECT AND LOCATION LARGE, HIGH - GRADE DEPOSIT • Indicated Drainable Resource upgrade to 4.2Mt @ 10.6kg/m 3 K 2 SO 4 • Total Drainable Mineral Resource 14.4Mt @ 10.4kg/m 3 K 2 SO 4 or SOP 1 • Further upside potential with additional Exploration Target EXCELLENT TRANSPORT LOGISTICS • 350km to Leonora on bitumen 2 , then • 900km rail to Fremantle, WA TRULY SUSTAINABLE MINING • Solar evaporation of saline brine (no open pit or rock waste dump) • Producing a natural mineral fertiliser essential for global food production TRIGG M INING LIM ITED 5 1. See Appendix B 2. Trigg anticipates the sealing of the Laverton to Lake Throssell section of the Outback Way Highway upgrade, currently underway, will be completed prior to first production. TRIGG M INING LIM ITED 6 In - house team Keren Paterson, MD & CEO BEng (Mining), MBA (Economics) FAusIMM MAICD WA First Class Mine Manager • +25 years experience across the mining value chain Tony Chamberlain, COO BSc (Hons), GradDip (Metallurgy) Ph.D (Chemistry) • +30 years experience in design, study management and project engineering Chris Williams, Study Manager BEng (Mining) • +35 years experience in mine development, operations management, feasibility studies and environmental approvals Zed Briginshaw, Project Officer BSc (Agriculture), BComm (Finance) Euclase Capital SCOPING STUDY TEAM External Experts Units Value Key Financial Assumptions Average LOM exchange rate AUD USD / 0.73 SOP price (US$/t, FOB) 550 (A$/t, FOB) 753 Discount rate % 8 Key Physical Assumptions LOM Production Target Mt 5.9Mt @ 10.4kg/m 3 SOP Life of Mine (LOM) Years 21 Brine abstraction Trench network km 110 Bores number 22-112 Overall recovery % 82 Nameplate Production Target ktpa SOP 245 Indicated to Inferred Resource (payback) ratio 82:18 Indicated to Inferred Resource (LOM) ratio 70:30 SCOPING STUDY KEY ASSUMPTIONS TRIGG M INING LIM ITED 7 SCOPING STUDY PROJECT COSTS AND FINANCIAL OUTCOMES TRIGG M INING LIM ITED 8 Units Value Capital Cost Total direct costs $M 269 Total indirect costs $M 40 Contingency and growth $M 70 Total Capital Cost $M 378 Pre-production working capital $M 34 Total Funding Requirement $M 412 Operating Cost C1 Cash Operating Cost $/t SOP 341 Sustaining Capital, royalties, Native Title compensation and closure costs $/t SOP 31 All-in Sustaining Cost (AISC) $/t SOP 372 Financial Metrics Average Annual LOM Revenue $Mpa 180 Average Annual EBITDA (including royalty and NT compensation) $Mpa 97 NPV 8 (pre-tax) $M 364 IRR (pre-tax) % 18 Payback from first SOP production years 4.5 TRIGG M INING LIM ITED 9 PRODUCTION FROM TRENCHES AND BORES TRIGG M INING LIM ITED 10 SITE LAYOUT COMBINATION OF ON AND OFF- LAKE EVAPORATION PONDS MINIMISE ENVIRONMENTAL FOOTPRINT Project Metric Unit Value Life-Of-Mine (LOM) Years 42 Nameplate Annual Production Ktpa SOP 245 Brine Extraction GL pa 24-29 Trench Network km 110 Bores 22-129 Average Resource Brine Grade Kg/m 3 K 2 SO 4 10.4 Evaporation Area Ha 2,150 Overall Recovery % 82 Capital Cost, Including Contingency And Growth $M 378 Pre-Production Working Capital $M 34 Cash Operating Cost $/t SOP 343 All-In Sustaining Cost (ASIC) $/t SOP 371 Sop Price US$/t, FOB 550 Sop Price $/t, FOB 753 NPV 8 (Inclusive of Royalty, Pre-Tax) $M 510 IRR (Inclusive of Royalty, Pre-Tax) % 18 Payback From Start of Production years 5 TRIGG M INING LIM ITED 11 PROCESS FLOWSHEET USING COMMERCIALLY PROVEN TECHNOLOGY TRIGG M INING LIM ITED 12 BENCHMARKED CAPITAL COSTS LEARNING FROM THE PEERS AMN Agrimin Limited RWD Reward Minerals SS Scoping Study BFS Bankable Feasibility APC Australian Potash Limited TMG Trigg Mining Limited PFS Pre -Feasibility Study FEED Front End Engineering Design KLL Kalium Lakes Limited SO 4 SO4 Limited DFS Definitive Feasibility Study Linear Regression APC (SS) APC (DFS) APC (FEED) AMN (SS) AMN (PFS) AMN (DFS) SO4 (SS) SO4 (BFS) RWD (SS) RWD (PFS) KLL (PFS) KLL (BFS) KLL (FEED) KLL (PU) KLL (FS) TMG (SS) 0 100 200 300 400 500 600 700 50 100 150 200 250 300 350 400 450 500 CAPEX ($M) SOP Production (ktpa) Benchmarked against economic studies of ASX listed peers 3 3. USD capital costs and operating costs amounts were converted to AUD using the FX rate quoted in the respective study. If no FX rate was provided, a spot rate of 0.76 was used as per June 2021. See Appendix C for a list of sources. Kalium Lakes Limited’s FEED, Project Update and Feasibility Study Opex figures have not been quoted in their respective ASX announcements (only AISC) and therefore are not included in the above figure. TRIGG M INING LIM ITED 13 BENCHMARKED OPERATING COSTS LEARNING FROM THE PEERS AMN Agrimin Limited RWD Reward Minerals SS Scoping Study BFS Bankable Feasibility APC Australian Potash Limited TMG Trigg Mining Limited PFS Pre -Feasibility Study FEED Front End Engineering Design KLL Kalium Lakes Limited SO 4 SO4 Limited DFS Definitive Feasibility Study Linear Regression Benchmarked against economic studies of ASX listed peers 4 APC (SS) APC (DFS) APC (FEED) AMN (SS) AMN (PFS) AMN (DFS) SO4 (SS) SO4 (BFS) RWD (SS) RWD (PFS) KLL (PFS) KLL (BFS) TMG (SS) 200.0 250.0 300.0 350.0 400.0 450.0 50 100 150 200 250 300 350 400 450 500 OPEX (A$/t) SOP Production (ktpa) 4. USD capital costs and operating costs amounts were converted to AUD using the FX rate quoted in the respective study. If no FX rate was provided, a spot rate of 0.76 was used as per June 2021. See Appendix C for a list of sources. Kalium Lakes Limited’s FEED, Project Update and Feasibility Study Opex figures have not been quoted in their respective ASX announcements (only AISC) and therefore are not included in the above figure. LAKE THROSSELL, A WORLD-CLASS ASSET TRIGG M INING LIM ITED 14 Primary Production (brines) Secondary Production Trigg Mining - Lake Throssell Potential Top-10 producer, and lowest-cost quartile 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Annual SOP Production (tonnes) Global SOP Producers 5 5. Global 2025 forecast production rates, showing Lake Throssell SOP Project (Source: CRU July 2021, Trigg analysis) 6. Global 2024 SOP Industry FOB cost curve (Source: CRU July 2021, Trigg analysis) 245ktpa US$249/t Global SOP Cost Curve 6 Operating Cost Global Annual Production 25% 50% 75% 100% LAKE THROSELL - A TRULY SUSTAINABLE MINE ENVIRONMENT Mining ? Harvesting naturally occurring hyper-saline brine (drainable resource only) ? No large open pit or rock waste dumps ? Harvesting solar energy through solar evaporation and electricity generation ? Pre-feasibility study to investigate ways to further minimise the carbon footprint Agriculture ? Producing a high-quality, highly efficient potassium fertiliser, improving: • Soil and water-way health • Drought tolerance of crops • Frost resistance of crops • Quality of produce • Nutritional benefit 15 A project of local, national and global significance TRIGG M INING LIM ITED SOCIAL ? Creating employment opportunities for >40 years • 250 construction jobs • 125 permanent roles (114 site-base) ? State & Federal taxes and royalty payments ? Potential for sustained community programs to deliver real and meaningful outcomes for Traditional Owners GOVERNANCE ? Transparent public reporting through ASX ? Mine closure planning – from the beginning Trigg mining, delivering on our Purpose To build mines communities can be proud of TRIGG M INING LIM ITED 16 LAKE THROSSELL EXPLORATION TOTAL CURRENT MINERAL RESOURCE OF 14.4Mt @ 10.4kg/m 3 K 2 SO 4 7 PLUS AN EXPLORATION TARGET OF 2.6 – 9.4Mt @ 9.5 – 10.3kg/m 3 K 2 SO 4 . The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration in these areas to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. 7. See Appendix B TRIGG M INING LIM ITED 17 LAKE YEO EXPLORATION POTENTIAL LAKE THROSSELL REPEAT • From 35km to the south of Lake Throssell in the same interpreted palaeochannel • Tenement Applications cover 1,915km 2 including more than 200km 2 of playa lake and almost 130km of strike DEVELOPMENT TIMELINE TRIGG M INING LIM ITED 18 2025 2024 Environmental Permitting 2021 2022 Resource & Mine Planning PFS Basal Pump T esting DFS Resource & M ine Schedule Process Development PFS Process O ptimisation DFS Process O ptimisation & Piloting Engineering BFS Project Financing & Construction Bankable Capex & Opex Environmental Scoping Document Public Environmental Review Plant Construction 2023 Ministerial Approval Secondary Approvals PFS Mine S chedule Project Financing JORC Resource Update Potash Marketing Samples Definitive Feasibility Engineering Pre-Feasibility Study Baseline Monitoring PFS Engineering KTMS Site Trials JORC Resource Update JORC Resource Update 19 THE TRIGG MINING INVESTMENT CASE TRIGG M INING LIM ITED Lake Throssell set to become a Top 10 Global, lowest- cost quartile SOP producer Outstanding economics for a multi-decade operation Located in a world class mining jurisdiction Premium potash product that is Australian made with large up side for export growth Significant Exploration Potential – extend mine life Global mega-trends driving global demand growth for natural potassium fertiliser Pre-Feasibility underway Level 1, Office E, 1139 Hay Street West Perth, WA 6005 (08) 6114 5685 info@triggmining.com.au www.triggmining.com.au TRIGG M INING LIM ITED 20 - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 0 0.05 0.1 0.15 0.2 0.25 TMG 12-month share price 21 BOARD OF DIRECTORS AND EXECUTIVE LEADERSHIP APPENDIX A – CORPORATE OVERVIEW Board of Directors Managing Director & CEO Keren Paterson Non Executive Chairperson Mike Ralston Non Executive Director Rod Baxter Non Executive Director Bill Bent Management Team Chief Operating Officer Tony Chamberlain Principal Hydrogeologist Adam Lloyd, Aquifer Resources Study Manager Chris Williams Top 10 Shareholders Michael Ralston & Sharon Ralston  4.95% Julian Stephens  3.57% Susetta Holdings Pty Ltd 3.35% KP Consulting Group  2.84% John Richard Small 2.62% Kenneth William Vidler 1.96% William Bent  1.83% Puresteel Holdings Pty Ltd  1.66% Silverfox Holdings  1.45% Rock Cod Investments 1.43% Total 24.30% Capital Structure Ordinary Shares (TMG) 114,506,665 Share Price (4/10/21) $0.105 Market Capitalisation $12.0 million Cash (30/06/21) $4.1 million Debt Nil Enterprise Value $7.9 million TRIGG M INING LIM ITED 22 APPENDIX B – TOTAL MINERAL RESOURCE ESTIMATE Aquifer Mineral Resource Category Volume (10 6 m 3 ) Total Porosity (%) Brine Volume (10 6 m 3 ) Specific Yield (%) Drainable Brine Volume (10 6 m 3 ) K Grade (mg/L) K Mass (Mt) SO 4 Grade (mg/L) SO 4 Mass (Mt) Equivalent SOP Grade (K 2 SO 4 ) (kg/m 3 ) Drainable Brine SOP Mass (Mt) Total Brine SOP Mass (Mt) LAKE THROSSELL MINERAL RESOURCE Surficial Indicated 1,008 0.40 403 0.17 170 4,985 0.9 22,125 3.8 11.1 1.9 4.5 Basal Indicated 1,150 0.29 329 0.19 225 4,605 1.0 24,420 5.5 10.3 2.3 3.4 Total Indicated Resource 2,159 732 395 4,770 1.9 23,430 9.3 10.6 4.2 7.9 Surficial Inferred 3,074 0.43 1,313 0.10 310 4,605 1.4 21,910 6.8 10.3 3.2 13.5 Confining Layer Inferred 8,793 0.45 3,957 0.04 350 4,595 1.6 23,140 8.1 10.2 3.6 40.6 Basal Inferred 3,524 0.40 1,394 0.09 330 4,675 1.5 22,920 7.6 10.4 3.4 14.5 Total Inferred Resource 15,391 6,664 990 4,625 4.5 22,680 22.5 10.3 10.2 68.6 Total 17,550 7,396 1,385 4,666 6.4 22,894 31.8 10.4 14.4 76.5 LAKE RASON INFERRED MINERAL RESOURCE Surficial Inferred 3,060 0.4 1220 0.1 306 2,290 0.70 21,400 6.55 5.10 1.56 6.23 Crete Inferred 5,020 0.38 1910 0.07 351 2,330 0.82 20,900 7.34 5.20 1.83 9.91 Mixed Inferred 230 0.3 70 0.1 23 2,390 0.05 21,900 0.50 5.32 0.12 0.36 Basal Sand Inferred 1,020 0.3 310 0.21 214 2,390 0.51 22,600 4.84 5.33 1.14 1.63 Saprolite Inferred 2,800 0.2 560 0.03 84 2,210 0.19 21,000 1.76 4.92 0.41 2.76 Saprock Inferred 9,310 0.1 930 0.02 186 2,050 0.38 21,000 3.91 4.57 0.85 4.25 Total 21,400 4,990 1,160 2,280 2.65 21,400 24.89 5.08 5.91 25.2 TOTAL MINERAL RESOURCE 38,950 12,386 2,545 3,579 9.1 22,213 56.7 8.0 20.3 101.7 LAKE THROSSELL EXPLORATION TARGET (in addition) Lower Estimate 5,807 288 4,081 1.2 9.1 2.6 Upper Estimate 10,925 945 4,466 4.2 10.0 9.4 Note : Errors may be present due to rounding, approximately 1.2Mt of Drainable SOP Mass is present in Exploration Licence Application E38/3437. Approximately 2.86Mt of the Drainable SOP Mass is present in Exploration Licence Applications E38/3544, E38/3483, E38/3458, and E38/3537. Total porosity and total brine SOP mass is provided to compare the total SOP tonnes with the drainable Resources. As can be seen, the total brine volume of 102.53Mt is significantly higher than reported drainable brine volume of 20.2Mt. The drainable brine volume represents the amount of SOP that can be abstracted from the deposit under normal pumping conditions. For economic production, the drainable brine volume is the most important volume because only a proportion of the total brine present can be typically abstracted from the deposit. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration in these areas to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. The Mineral Resource Estimate was first announced, together with a Competent Person’s Statement from Mr Adam Lloyd of Aquifer Resources Pty Ltd, on 05 October 2021 in the announcement titled “Positive Scoping Study for Lake Throssell Sulphate of Potash Project following Mineral Resource Upgrade”. Company Source Source Date Title of Announcement Australian Potash Limited ASX Announcement 23/03/2017 Scoping Study Confirms Exceptional Economics of APC’s 100% owned Lake Wells Potash Project in WA Australian Potash Limited ASX Announcement 28/8/2019 Australian Potash Ltd Announces Definitive Feasibility Study Outstanding Outcome Over 30 Year Mine Life Australian Potash Limited ASX Announcement 20/4/2021 Front End Engineering Design Positions K-Brite TM at the Premium End of the Global SOP Market Agrimin Limited ASX Announcement 23/8/2016 Positive Scoping Study for the Mackay SOP Project Agrimin Limited ASX Announcement 7/5/2018 Pre-Feasibility Study Completed for Mackay SOP Project Agrimin Limited ASX Announcement 21/7/2020 Targeting the World’s Lowest Cost SOP Production SO4 Limited ASX Announcement 13/6/2019 Exceptional Economics of Commercial Scale Development at Lake Way SO4 Limited ASX Announcement 11/10/2019 Outstanding Bankable Feasibility Study Results for Lake Way Reward Minerals Ltd ASX Announcement 2/4/2015 Reward Delivers Significant Scoping Study Results for the LD Potash Project Reward Minerals Ltd ASX Announcement 13/4/2018 Pre-Feasibility Study Update Kalium Lakes Limited ASX Announcement 3/10/2017 Pre-Feasibility Study with Maiden Ore Reserve Confirms Low Cost, Long Life and High Margin Beyondie SOP Project Kalium Lakes Limited ASX Announcement 18/9/2018 Bankable Feasibility Study Complete with Exceptional Financial Outcomes Kalium Lakes Limited ASX Announcement 4/3/2019 Lower Operating Cost and Increased Production For BSOPP Kalium Lakes Limited ASX Announcement 21/5/2020 Project Update and A$61 million Equity Raising Kalium Lakes Limited ASX Announcement 18/8/2021 Feasibility Study Complete for New Base Case Production Increase to 120ktpa at Beyondie SOP Project 23 APPENDIX C – INFORMATION SOURCES – PRODUCTION RATES TRIGG M INING LIM ITED Note: USD capital and operating cost amounts were converted to AUD using the FX rate quoted in the respective study. If no FX rate was provided, a spot rate of 0.76 was used as per June 2021. Kalium Lakes Limited’s FEED, Project Update and Feasibility Study operating cost figures have not been quoted in their respective ASX announcements (only all in sustaining cost (AISC)) and therefore are not included.
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