A Namibian registered company 100 per cent female managed and owned
2 Tungeni is a Namibian registered company, whose vision is to create synergies in business that would benefit women and that goal defines everything we do As a strategic partner, Tungeni brings to the table social capital and competence, as well as a wide network and influence, plus a host of other benefits Tungeni is currently involved in the Sandpiper Marine Phosphate Project
3 Sandpiper Project is owned and operated by Namibian Marine Phosphate (Pty) Ltd (“NMP”) , a Joint Venture Company Sandpiper Phosphate Project
4 Since 2006 NMP’s partners have committed funding and resourcing to a rural primary school education project at Tsandi, northern Namibia. The social development programme will expand with the development of the project to include beneficiaries within the Walvis Bay area and Erongo Region.
5 2009 September Resource upgrade: Indicated 74Mt @20.6% P ₂ 0 ₅ , Inferred 1.507Bt @18.7% P ₂ 0 ₅ August Project JV shareholders’ agreement executed 2010 November Scoping Study shows positive economics November Mining Licence application March Commencement of Definitive Feasibility Study/Batemans July Grant of Mining Licence ML170 August 2011 Resource upgrade: Indicated 74Mt @20.6% P ₂ 0 ₅ , Inferred 1.717Bt @19% P ₂ 0 ₅ October Definitive Feasibility Study bulk sample program completed in ML170 November Successful commissioning of beneficiation pilot plant January Positive results from test work Report – product suitable for direct application Resource upgrade: Measured 4.1Mt @20.45% P ₂ 0 ₅ , Indicated 220.4Mt February @20.13% P ₂ 0 ₅ , Inferred 1.6Bt @18.9% P ₂ 0 ₅ March Successful outcomes from Definitive Feasibility Study 2012 March Submission of final Marine EIA/EMPR for ML170 Resource upgrade: Measured 60.1Mt @20.83% P ₂ 0 ₅ , Indicated 166.7Mt April @19.98% P ₂ 0 ₅ , Inferred 1.77Bt @18.3% P ₂ 0 ₅ August Upgrade Measured and Indicated Resources to Proven and Probable Reserves Current Equity sourcing and debt discussions in progress
6 AFRICA: 15% of World Population, 2% of World Fertilizer Use 16% India 35% Other 29% China 6% Brazil 12% USA 2% Africa Global fertilizer consumption forecast to grow by 45% between 2005 and 2030* * FAO publication, forecasting Long-Term Global fertilizer Demand, Rome, 2008, Stonegate Agricom
7 , Stonegate Agricom
8 90% conversion of Ore Reserves Mt % P 2 O 5 Measured Resource Proved 54.07 20.83 Probable 78.69 20.12 75% conversion of Total Proven & Probable 132.76 20.41 Indicated Resource Mineral Resources Mt % P 2 O 5 Significant remaining Measured - - inventory for upgrade Indicated 79.75 19.82 Inferred 1,608.00 18.90
9 COARSE WASTE ROM MATERIAL SCREENING FINAL PRODUCT SPIRALS SLIMES WASTE
10 Fish Trawling Area Total 70,000 km 2 ML170 Area 2,233km 2 Area km ² % ML 170 2233 100 SP1 176 7.9 SP2 176 7.9 SP3 66 3.0 20 Year mine plan 50 2.2 10 Year mine plan 21 0.9 1 Year mine plan 2.3 0.1
11 Commercial suitability successfully tested for: Direct Application Phosphate Rock Single Super Phosphate (SSP) Phosphoric Acid IFDC certification for Direct Application Phosphate rock is in progress
12 Source: Stonegate Agricom Extreme phosphate (phosphorus) deficiency in a research field in Storrs, Connecticut. The two tall rows of corn on the right received 30 lb P 2 O 5 /Acre in a band 2 inches below and to the side of the seed row. The six rows on the left and centre did not receive any phosphate fertilizer.
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14 Results DFS parameters are generally +15%/-5% Confirms Project is technically and financially feasible Confirms potential for long minelife and strong investment returns to shareholders FOB cost : US$59.7/tonne Capital cost: US$326m CRU average price: $119/ton Positive NPV and strong IRR Employment Construction phase 400-500 jobs Operating phase 1 50 direct jobs 200 indirect jobs
15 Sandpiper ¡Forward ¡Programme ¡ Q1 Complete pilot plant test work Q1 Complete marketing programme Sampling to upgrade resource for DFS Q1 2012 Q1 Complete Definitive Feasibility Study ● Q3/4 Development decision Q3/4 Financing Campaign dredging commences Q1 2014 2H Commissioning and Production
16 Namibia is fortunate to be gifted with world class natural resources of fish and minerals in its ocean. Our joint responsibility: To enable Namibia to benefit from development of all of its natural marine resources To explore and develop pragmatic solutions for integration of new industries with existing industries
47 Feld Strasse, Windhoek, Namibia Ph: +264 8 5129 0692 Email: info@tungeni-investments.com THANK YOU TSX: MAK ASX: MAK andrewd@minemakers.com.au NSX: MMS
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