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Investing and Developing Minerals that Power Tomorrows Needs April 2018 DISCLAIMER This presentation and any additional documents handed out at any meeting (together the Presentation Materials) have not been approved by (i) the London


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Investing and Developing Minerals that Power Tomorrow’s Needs

April 2018

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SLIDE 2

DISCLAIMER

This presentation and any additional documents handed out at any meeting (together the “Presentation Materials”) have not been approved by (i) the London Stock Exchange plc or by any authority which could be a competent authority for the purposes of the Prospectus Directive (Directive 2003/71/EC); or (ii) an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”). The Presentation Materials are being supplied to you for information purposes only by Cadence Minerals Plc (the “Company”, “KDNC” or “Cadence”). References to the Company, KDNC or Cadence will also be deemed to include its subsidiaries, both directly and indirectly held (including through nominees) all wholly owned. These Presentation Materials have been prepared by and are the sole responsibility of the

  • Company. The Directors of the Company have taken all reasonable care to ensure that the facts stated herein are true to the best of their knowledge, information and belief. Investing in the Company may

expose an individual to significant risk of losing all of the property or other assets invested. These Presentation Materials do not constitute, or form part of, a prospectus relating to the Company, nor do they constitute or contain any invitation or offer to any person to subscribe for, purchase or

  • therwise acquire any shares in the Company or advise persons to do so in any jurisdiction, nor shall it, or any part of it form the basis of or be relied on in connection with any contract or as any inducement to

enter into a contract or commitment with the Company. No reliance may be placed for any purpose whatsoever on the information or opinions contained in the Presentation Materials or on their

  • completeness. No representation or warranty, express or implied, is given by the Company as to the accuracy of the information or opinions contained in the Presentation Materials, or any further written or
  • ral information made available to you or your advisors, and is subject to updating, completion, revision, amendment or verification, which may result in material changes. The information contained in these

Presentation Materials has not be independently verified. By attending the presentation and/or retaining these Presentation Materials you will be taken to have represented, warranted and undertaken that: (i) you are a Relevant Person (ii) you have read and agree to comply with the contents and restrictions of this disclaimer (iii) you will use the information in these Presentation Materials solely for evaluating your possible interest in acquiring securities of the Company and (iv) you will conduct your own analysis or other verification of the data and information set out in these Presentation Materials and will bear the responsibility for all or any costs incurred in doing so. Any recipient of these Presentation Materials who is in any doubt about the investment to which this presentation relates should consult an authorised person specialising in advising on investments of this

  • kind. These Presentation Materials do not constitute a recommendation regarding the shares of the Company, and should not be construed as legal, business, tax or investment advice. Prospective investors

are encouraged to obtain separate and independent verification of information and opinions contained in the Presentation Materials as part of their own due diligence. Neither the Company, nor its advisers accept liability whatsoever for any loss howsoever arising, directly or indirectly, from use of these Presentation Materials or their contents or otherwise arising in connection therewith. The Company, in its sole discretion, reserves the right to amend or supplement these Presentation Materials at any time. The Company also reserves the right, in its sole discretion, to terminate discussions with any person at any

  • time. The reproduction, copying or distribution of these Presentation Materials in other jurisdictions may be restricted by law and persons into whose possession these

These Presentation Materials are not for distribution outside the United Kingdom directly or indirectly, by any means (including electronic transmission) either to persons with addresses in Canada, Australia, Japan, the Republic of South Africa or the Republic of Ireland, or to any citizens, nationals or residents thereof, or to any corporation, partnership or other entity created or organized under the laws thereof. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdictions. These Presentation Materials contain certain forward-looking information about the Company which are statements, beliefs, opinions or projections that are not historical facts, and which may be identified by the use of terminology such as “proposes,” “may,” “believes,” “anticipates,” “projects,” “expects,” estimates” or “forecasts” or comparable terminology and which reflect the Company’s or, as appropriate, the Company’s Directors current expectations and beliefs about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results

  • r events to differ materially from those expressed in such statements, beliefs and opinions depending on a variety of factors. Past performance, trends or activities of the Company or its shares cannot be

relied on as a guide to future performance, trends or activities. Any forward-looking information contained in these Presentation Materials has been prepared on the basis of a number of assumptions which may prove to be incorrect, and accordingly, actual results may vary from those projected as a result of, among other factors, changes in economic and market conditions, changes in the regulatory environment and other business and operational risks. Recipients of these Presentation Materials should not place reliance on forward-looking statements, which speak only as of the date of the Presentation

  • Materials. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, circumstances or otherwise or to reflect

the occurrence or non-occurrence of any events. Please note that the photographs and images used in these Presentation Materials are illustrative and may not show Company assets / licence areas.

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CORPORATE PRESENTATION APRIL 2018

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SLIDE 3

STRATEGY

Invest & Develop - World Class Assets In Battery Minerals Sector (Lithium, Rare Earths & Cobalt)

  • Invest up to 100% economic stake
  • Early in the development cycle (pre resource –

maiden resource)

  • De-risk investment with structured investments,

through milestones and or free carries

  • Work with management to drive value through

steepest section of value curve

  • Unique early investment strategy & development firm within the battery mineral resource sector
  • Identify undervalued assets with irreplaceable strategic advantages
  • We invest in them and help turn them into powerhouses and provide capital growth
  • Apply this approach across two types of assets

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CORPORATE PRESENTATION APRIL 2018 (*All % are rounded up to nearest percent.)

Public Listed Investments Direct Project Investments

  • Invest up to 30%
  • Early to Medium in the development cycle

(resource – preliminary economics)

  • De-risk investments with board representation or

equity liquidity

  • Leverage “know how” to help expedite

development

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SLIDE 4

STRATEGY & KEY INVESTMENTS

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CORPORATE PRESENTATION APRIL 2018 (*All % are rounded up to nearest percent.)

Exploration Resource Definition Pre-Feasibility Feasibility Cadence Investment Cadence Divestment Construction & Commissioning

1 2 3 4 5 6 3 4 2

Yangibana Rare Earth Deposit – 30%

  • Construction 2018
  • Building to a 35,000 tpa Lithium

Carbonate Production

  • US$ 1.25 B NPV

Mexalit JV – 30% BACANORA MINERALS – 8%

  • 55,793 Hectares Exploration

Applications

  • Prime exploration area for lithium

bearing pegmatites

San Luis Lithium Project – Earn In Upto 100%

1

  • Definitive Feasibility Study 2018
  • Planned Production of 20,800 tpa Lithium

Carbonate Production

  • US$ 540 M NPV

EUROPEAN METALS HOLDINGS – 20%

KEY

PUBLIC LISTED INVESTMENTS – XX % DIRECT PROJECT INVESTMENTS – XX %

  • Various projects in Australia
  • Lithium, Gold, Cobalt, Iron Ore

MACARTHUR MINERALS – 15%

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  • Arden Project – Cobalt

AUROCH MINERALS – 7%

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VALUE PROPOSITION

Cadence Market Capitalisation £ 20 million

*(29/12/2017) Values rounded to nearest million ** Based total joint venture book value and a pro rata value for Mexalit joint venture (%Project NPV8 from feasibility study x Market Capitalistion of Bacanora Minerals at 29/12/2017)

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CORPORATE PRESENTATION APRIL 2018

Investment Value Potential Growth

£ 33 million £ 15 million

Direct Project Investments Public Listed Investments £ 4 million £11 million £ 25 million

Pre feasibility study –EMH (NPV8) US$540 million Feasibility study – BCN –(NPV8) US$1.25 billion Based on a diluted equity position Cadence equity value in these two assets potentially worth circa US$ 100 million

Return

121%

125% 119% £ 8* million

Feasibility study on Bacanora Minerals yielded a US$1.25 billion discount cash flows (NPV8). Cadence Joint Venture (Mexalit) share of (NPV8) US$90 million (Cadence share 30% - circa US$ 30 million)

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SLIDE 6

Why Lithium?

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SLIDE 7

“The horse is here to stay but the automobile is only a novelty — a fad.”

President of the Michigan Savings Bank advising Henry Ford’s lawyer, Horace Rackham, not to invest in the Ford Motor Company.

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CORPORATE PRESENTATION APRIL 2018

5th AVE NYC - 1900 5th AVE NYC - 1913

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SLIDE 8

“Expert” Disruption Forecasts

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CORPORATE PRESENTATION APRIL 2018

AT&T hired Mckinsey & Co to forecast cell phone adoption by the year 2000

The actual number for 2000 was

109,000,000 subscribers

Their (15-Year) prediction

900,000 subscribers

They were off by a factor of

120x

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SLIDE 9

ELECTRIC VEHICLES (EV’s) ARE A DISRUPTIVE TECHNOLOGY

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CORPORATE PRESENTATION APRIL 2018

  • EV’s are 5x – more efficient (95%) – ICE 20%
  • EV’s are 5x to 10x – cheaper to fuel / charge
  • EV’s are 10x – cheaper to maintain (10X less moving parts)

When you see a 10x economic improvement, disruption on incumbent technology / business models occurs

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SLIDE 10

ELECTRIC VEHICLE FORECASTS

5 10 15 20 25 30 2017 2018 2019 2020 2021 2022 2023 2024 2025 EV SALES PER YEAR MILLIONS Citi Liberium Morning Star UBS (Upside) 23% Penetration on new car sales 25 million new electric vehicles per year

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CORPORATE PRESENTATION APRIL 2018

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WHY LITHIUM, RARE EARTHS &COBALT

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CORPORATE PRESENTATION APRIL 2018

Source : UBS – Q series – UBS Evidence Lab Electric Car Teardown – Disruption Ahead? – May 2017

  • Scarce – Although ample mineral

resources they have not been developed to meet the forecast demand

  • No Replacements – Lithium, Rare

Earth and to a lesser extend cobalt have no complete replacements

  • Disruptive Technology - will drive

demand not a “cycle”, created by regulation or regional economic drivers

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SLIDE 12

CAPITAL IS FLOWING TO THE LITHIUM ION BATTERY SECTOR

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CORPORATE PRESENTATION APRIL 2018

  • 9 x Increase in planned

Gigawatt hour capacity (GWh)

  • 340 GWh = US$ 34 billion

in capital investments

  • Forecasts would suggest in

excess of 709 GWh required by 2025.

Source : Benchmark Minerals. All data collected by Benchmark Minerals Intelligence

39 39 39 39 31 31 31 149 149 121 50 100 150 200 250 300 350 400 2014 2015 2016 2017 GWH

+31 GWh in 20158 +149 GWh in 20168 +121 GWh in 20178

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LITHIUM - SUPPLY TO REMAIN CONSTRAINED

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CORPORATE PRESENTATION APRIL 2018

  • 200,000

400,000 600,000 800,000 1,000,000 1,200,000 2018 2019 2020 2021 2022 2023 2024 2025

Tonne of Lithium Carbonate Equivalent

Pre-Feasibility Projects Feasibility Projects Under Construction Current Production Demand

SUPPLY DEMAND

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SLIDE 14

LITHIUM PRICING REMAINS STRONG

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CORPORATE PRESENTATION APRIL 2018

Our investments use US$10,000 to US$11,000 per tonne of lithium carbonate for revenue calculations substantially below current prices

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SLIDE 15

Public Listed Investments

Investment Value Potential Growth

Public Listed Investments £11 million £ 25 million

Pre feasibility study –EMH (NPV8) US$540 million Feasibility study – BCN –(NPV8) US$1.25 billion Based on a diluted equity position Cadence equity value in these two assets potentially worth circa US$ 100 million

Return

119%

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SLIDE 16

PERFORMANCE OF CADENCE PUBLIC LISTED INVESTMENTS

2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 17.9% 97.4% 65.9% 36.5% 130.1% 72.2% 110.1% 119.2%

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CORPORATE PRESENTATION APRIL 2018

Rebased lithium Index and P&L of Cadence to 100

Absolute Cumulative Returns

  • 100.00

200.00 300.00 400.00 500.00 600.00

04-Jan-16 04-Feb-16 04-Mar-16 04-Apr-16 04-May-16 04-Jun-16 04-Jul-16 04-Aug-16 04-Sep-16 04-Oct-16 04-Nov-16 04-Dec-16 04-Jan-17 04-Feb-17 04-Mar-17 04-Apr-17 04-May-17 04-Jun-17 04-Jul-17 04-Aug-17 04-Sep-17 04-Oct-17 04-Nov-17 04-Dec-17 Lithium Index Cadence Portfolio

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SLIDE 17

PUBLIC LISTED INVESTMENTS

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CORPORATE PRESENTATION APRIL 2018 (*All % are rounded up to nearest percent.)

Exploration Resource Definition Pre-Feasibility Feasibility Cadence Investment Cadence Divestment Construction & Commissioning

2 3 5 6 3 2

  • Construction 2018
  • Building to a 35,000 tpa Lithium

Carbonate Production

  • US$ 1.25 B NPV

BACANORA MINERALS – 9%

  • Definitive Feasibility Study 2018
  • Planned Production of 20,800 tpa Lithium

Carbonate Production

  • US$ 540 M NPV

EUROPEAN METALS HOLDINGS – 20%

  • Various projects in Australia
  • Lithium, Gold, Cobalt, Iron Ore

MACARTHUR MINERALS – 15%

5

  • Arden Project – Cobalt

AUROCH MINERALS – 8%

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CORPORATE PRESENTATION APRIL 2018

BACANORA MINERALS

9 % Equity

EUROPEAN METALS

20% Equity

KEY INVESTMENTS

Globally significant lithium projects

SIZE OPEX 7 m t LCE US$ 3,483/t Li2C03 CAPEX NPV 8% Li2C03 Price IRR US$ 393 million US$ 540 million 21% US$ 10,000 9 m t LCE US$ 3,418/t Li2C03 US$ 799 million US$ 1.25 billion 21% US$ 11,000 Size: both of this investments represent two of the four largest non brine deposits in the world. Low Cost: these assets have operational costs that are in the lower half of the cost curve Location: assets are strategically located to serve the most important markets of battery manufacture and EV’s

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SLIDE 19

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CORPORATE PRESENTATION APRIL 2018

LOW COST– PEER COMPARISONS

SQM Albermarle European Metals Holdings Bacanora Minerals Orocobre FMC Lithium Chinese Brines Australian Minerals $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 50,000 100,000 150,000 200,000

Cost per tonne of LCE mined Cumulative Annual Production (Tonnes) LCE

Cadence Investments

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LOCATION - EUROPEAN METALS HOLDINGS (20%)

At the Heart of New European Demand

Plans to build 2-3 million EVs per year & release 30 new models by 2025. Reports of EUR 10bn battery factory in Leipzig - 150kms from Cinovec EUR 1bn EV program, headquarters in Stuttgart & factory in

  • Leipzig. Confirmed to be working on production EV sedan

EUR 2bn EV program with target to bring 10 EV models to the market by 2025, making up 15 -25% of global sales Plans to introduce electric Mini and BMW X3 SUV to range of EVs built in factory, near Leipzig. BMW attempting to expand EV sales to 15-25% by 2025 Based in Dresden, 45 minutes from Cinovec, building 2nd battery factory & expanding production by EUR 2bn. EUR 10bn by 2020 on 10 new EV’s VW’s Skoda, headquartered in Mladá Boleslav, announced a new all -electric SUV with a 500km range, a speed of 180km/h & some autonomous driving capabilities

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CORPORATE PRESENTATION APRIL 2018

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Direct Project Investments

Investment Value Potential Growth

Direct Project Investments £ 4 million

Return

125% £ 8* million

Feasibility study on Bacanora Minerals yielded a US$1.25 billion discount cash flows (NPV8). Cadence Joint Venture (Mexalit) share of (NPV8) US$90 million (Cadence share 30% - circa US$ 30 million)

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SLIDE 22

STRATEGY & KEY INVESTMENTS

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CORPORATE PRESENTATION APRIL 2018 (*All % are rounded up to nearest percent.)

Exploration Resource Definition Pre-Feasibility Feasibility Cadence Investment Cadence Divestment Construction & Commissioning

1 3 4 3 4

Yangibana Rare Earth Deposit – 30%

  • Construction 2018
  • Building to a 35,000 tpa Lithium

Carbonate Production

  • US$ 1.25 B NPV

Mexalit JV – 30%

  • 55,793 Hectares Exploration

Applications

  • Prime exploration area for lithium

bearing pegmatites

San Luis Lithium Project – Earn In Upto 100%

1

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SLIDE 23

SAN LUIS LITHIUM PROSPECTS

HSBC estimates Argentina will contribute 17% of 2016 global supply that should increase to 23% by 2025 23

CORPORATE PRESENTATION APRIL 2018

President Mauricio Marci has removed the 5% tax on lithium exports and is improving the regulatory structure of the lithium industry

Six prime assets in San Luis Province, central Argentina, comprising 55,773 hectares in applied for exploration permits within the known spodumene bearing pegmatite fields. Historic mines in the region have produced lithium oxide Li2O at grades ranging from 4.5% to 6.5%. Properties have good access and infrastructure support for exploration activities on a year round basis. On grant of exploration licenses Cadence will acquire up to 49% spending by £1.1m on exploration and drilling. Option to acquire 100%

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SLIDE 24

SAN LUIS LITHIUM PROSPECTS

Plan for 2018

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CORPORATE PRESENTATION APRIL 2018

Q1 - 2018 Remote prospecting programme to identify spodumene bearing pegmatites* Q2 – 2018 Spodumene sampling programme over pegmatite fields* H2 – 2018 Drilling programme target define mineral resource*

* Subject to grant of required licenses & permits - Q1 2018

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SLIDE 25

SAN LUIS LITHIUM PROSPECTS

Potential Upside

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CORPORATE PRESENTATION APRIL 2018

$1,094 $584 $582 $556 $471 $373 $297 $276 $239 $218 $0 $200 $400 $600 $800 $1,000 $1,200 Galaxy Resources Altura Tawana Mineral Resources Nemaska Neometals Critical Elements Pilbara Kidman Frontier Lithium

EV / Resource (US$ / t LCE )

Hard Rock – EV / Resource Valuation (US$/t LCE)

EV (C$mm) 1,522 820 200 3,435 752 169 205 1,624 679 86 Market Cap (C$mm) 1,599 673 221 3,520 862 219 212 1,667 726 90 Resource (Mt LCE) 1.1 1.1 0.3 5.0 1.3 0.4 0.6 4.7 2.3 0.3

Finding the right asset has the potential to add substantial value. For example – 25 million tonnes @ 1.20% Li2O =750Kt LCE

  • r circa -US$ 300 million of

enterprise value

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SLIDE 26

SUMMARY

  • WORLD CLASS ASSETS AND STRONG NEWS FLOW

COMPANY POISED FOR UPSIDE

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CORPORATE PRESENTATION APRIL 2018

  • TRACK RECORD OF IDENTIFYING UNDERVALUED ASSETS
  • EXCELLENT RETURNS– 121%
  • STRATEGY - REINVEST TO DELIVER SIMILAR RETURNS

Investment Value Potential Growth £ 33 million £ 15 million Direct Project Investments Public Listed Investments £ 4 million £11 million £ 25 million Pre feasibility study –EMH (NPV8) US$540 million Feasibility study – BCN –(NPV8) US$1.25 billion Based on a diluted equity position Cadence equity value in these two assets potentially worth circa US$ 100 million Return 121% 125% 119% £ 8* million Feasibility study on Bacanora Minerals yielded a US$1.25 billion discount cash flows (NPV8). Cadence Joint Venture (Mexalit) share of (NPV8) US$90 million (Cadence share 30% - circa US$ 30 million)

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SLIDE 27

THE TEAM

Team with key engineering, technical, corporate and financial experience and skills.

Kiran Morzaria

CHIEF EXECUTIVE OFFICER Over 20 years in the Exploration and Mining Industry. Covering Exploration, Production, M&A & Finance across Africa. South America, Australasia Focused on fundamental appraisal of projects, growth strategies. Qualified Engineering Geologist / Postgraduate Finance specialisation

Andrew Suckling

EXECUTIVE CHAIRMAN Over 20 years in the fund management, metals trading and hedge fund sector Founding partner, research analyst and trader at Ospraie Management which at its peak had US$ 9 billion under Management Trader with London Metal

  • Exchange. Established a

trading presence in China Graduate - Oxford University earning a BA (Hons) in Modern History in 1993 and an MA in Modern History in 2000.

Donald Strang

FINANCE DIRECTOR In excess of 20 years finance

  • experience. For the last decade

focused on the mining and exploration sector. Qualified chartered accountant and member of the Australian Institute of Chartered Accountants

Adrian Fairbourn

NON-EXECUTIVE DIRECTOR Career in hedge fund and fund management sector. successfully assisted in over $1billion of structuring, capital and fundraising projects for several private companies

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CORPORATE PRESENTATION FEBRUARY 2018

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SLIDE 28

CONTACT

DISCLAIMER

The investment mentioned in this document may not be suitable for all recipients or be appropriate for their personal circumstances. The information in this document is believed to be correct but cannot be guaranteed. Opinions constitute our judgment as of this date and are subject to change without warning. This document is not intended as an

  • ffer or solicitation to buy or sell securities. Past performance is not necessarily indicative
  • f future performance and the value of investments may fall as well as rise and the

income from them may fluctuate and is not guaranteed. Investors may not recover the amount invested. Some securities carry a higher degree of risk than others. The levels and basis of taxation can change. The contents of this document have been prepared by, are the sole responsibility of, and have been issued by the Company Twitter.com/@CadenceMinerals http://www.cadenceminerals.com/ (+44) 020 7440 0647 kiran@cadenceminerals.com www.voxmarkets.co.uk/company/KDNC