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

EMERGING HIGH-GRADE MANGANESE OPPORTUNITY

INVESTOR PRESENTATION – MAY 2018

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This presentation contains forward-looking statements and factual information that are current as of the date the presentation was originally delivered. When used in this presentation, words such as “may”, “would”, “could”, “will”, “expect”, “anticipate”, “estimate”, “believe”, “contemplate”, “intend”, “budget” “plan” and

• ther similar expressions are intended to identify forward-looking statements. Forward-looking statements

include, but are not limited to, statements with respect to the timing and amount of estimated future exploration, success of exploration activities, expenditures, permitting, and requirements for additional capital and access to data. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Giyani Metals Corp. (the “Company”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or dispose of properties; 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 economic developments in the jurisdictions in which the Company carries on business; requirements for additional capital; and regulatory restrictions including delays in obtaining governmental approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or expected. The Company disclaims any intention or obligation to update or revise any 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

• G I YA N I ’ S C O R P O R A T E O B J E C T I V E I S T O B E C O M E T H E W O R L D ’ S

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

• T H E C O M PA N Y I S C U R R E N T LY E X P L O R I N G I T S L A R G E L A N D PA C K A G E O F

8 , 1 3 5 S Q U A R E K I L O M E T E R S W H I C H I S L O C A T E D I N T H E K A N Y E B A S I N , S O U T H E A S T E R N B O T S W A N A , A F R I C A . T H E P R O P E R T Y I N C L U D E S S E V E R A L PA S T P R O D U C I N G M A N G A N E S E M I N E S

• G I YA N I I S N O W I N T H E O P E R A T I O N A L P H A S E F O R T H I S Y E A R W I T H A

G E O P H Y S I C A L A N D D R I L L I N G P R O G R A M U N D E R WA Y I N Q 1 / Q 2 2 0 1 8

• A S S A Y R E S U LT S F R O M T H E F I R S T 2 3 0 S U R FA C E S A M P L E S R E P O R T E D

H I G H - G R A D E M A N G A N E S E O X I D E ( M N O ) U P T O 7 3 . 4 % A T T H E K . H I L L P R O S P E C T A N D U P T O 6 7 . 4 % A T T H E O T S E P R O S P E C T

• N E A R S U R FA C E D E P O S I T I O N M A K E S I T E A S Y A N D L O W - C O S T T O O P E N

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

• L O W L E V E L S O F I M P U R I T I E S A L L O W F O R C O S T E F F E C T I V E A N D S I M P L E

B E N E FA C T I O N P R O C E S S T O B A T T E R Y G R A D E M A N G A N E S 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 0 0 % I N T E R E S T I N A N E X T E N S I V E L A N D PA C K A G E C O V E R I N G 8 , 1 3 5 S Q U A R E

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

• S E V E R A L H I G H - G R A D E M A N G A N E S E O C C U R R E N C E S W H I C H P R O V I D E S G I YA N I

W I T H A P I P E L I N E O F M U LT I P L E P R O J E C T S T O C O L L E C T I V E LY F O R M A L A R G E S C A L E R E S O U R C E

• C L O S E P R O X I M I T Y T O T H E T O W N S O F K A N Y E , O T S E , A N D L O B A T S E W I T H

A C C E S S T O G O O D I N F R A S T R U C T U R E , R A I L A N D R O A D S Y S T E M S , W A T E R A N D E L E C T R I C I T Y

• O P T I O N S T O S H I P O U T O F 5 S E A P O R T S A C C E S S I B L E V I A R A I L N E T W O R K S A N D

S T R A T E G I C A L LY L O C A T E D F O R C O S T E F F E C T I V E S H I P P I N G T O C H I N A A N D I N D I A

• B O T S W A N A I S O N E O F T H E M O S T A T T R A C T I V E A F R I C A N J U R I S D I C T I O N S

S U P P O R T I N G M I N I N G O P E R A T I O N S W I T H FA V O R A B L E TA X R E G U L A T I O N S A N D E F F I C I E N T G O V E R N M E N T P R O C E S S E S

T H E P R O P E R T Y

KANYE PROJECT MANGANESE PROSPECT

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I N G O O D C O M PA N Y 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 37-55% Manganese 3.8 million tonnes P/A 37-44% Manganese 1.8 million tonnes P/A 33-44% Manganese 2 million tonnes P/A 35-45% Manganese Private company (unknown production

• r grade)

2.5 million tonnes P/A 40% Manganese

ESTIMATED PRODUCTION AND GRADE LEVELS OF SOUTH AFRICAN KALAHARI MANGANESE MINES

Source: Public companies annual reports and third party research.

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

F O R T H E F I R S T T I M E S I N C E 2 0 1 2 , G L O B A L M N O R E D E M A N D W A S L A R G E R T H A N S U P P L Y I N 2 0 1 6 , A S S T O C K S O F O R E A C C U M U L A T E D A L O N G T H E S U P P L Y C H A I N H A V E B E E N C O N S U M E D . M N O R E S U P P L Y C O N T I N U E D C O N T R A C T I N G F O R A S E C O N D C O N S E C U T I V E Y E A R , B Y - 7 % T O 4 4 . 8 M I L L I O N W E T M T , A S M A N Y M I N E S C L O S E D I N 2 0 1 5 R E M A I N E D I D L E D I N 2 0 1 6 . D E M A N D I N C R E A S E D B Y 2 % I N 2 0 1 6 T O 4 7 M I L L I O N W E T M T , O N R I S I N G M N A L L O Y S P R O D U C T I O N , E S P E C I A L L Y I N C H I N A . 6

M A N G A N E S E I N B AT T E R I E S

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

U P T O 3 5 G I G A W A T T - H O U R S B A T T E R Y P R O D U C T I O N A N N U A L L Y B Y 2 0 1 8

• E L O N M U S K S A Y S T H A T T E S L A W I L L A N N O U N C E 4 N E W G I G A F A C T O R I E S I N

2 0 1 8

• A R E C E N T S T U D Y B Y B L O O M B E R G I N T E L L I G E N C E R E P O R T S T H A T C H I N E S E

C O M P A N I E S A R E A T W O R K O N P L A N S T O P R O D U C E M O R E T H A N 1 2 0 G I G A W A T T - H O U R S O F B A T T E R I E S A Y E A R B Y 2 0 2 1

• T H E G L O B A L L I T H I U M - I O N B A T T E R Y M A R K E T S I Z E I S E X P E C T E D R E A C H U S

$ 4 6 . 2 1 B I L L I O N B Y 2 0 2 2 , W I T H A C A G R O F 1 0 . 8 % F R O M 2 0 1 6 T O 2 0 2 2 ( A L L I E D M A R K E T R E S E A R C H )

• 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 )

• M A N G A N E S E

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

• G L O B A L

S H O R T A G E O F H I G H G R A D E M A N G A N E S E P R O J E C T S T H A T C A N P R O V I D E F E E D S T O C K T O T H E B A T T E R Y I N D U S T R Y A T C O M P E T I T I V E P R I C I N G 7

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 AT T E R Y M A K E R S

• UMICORE, ONE OF THE LARGEST BATTERY CATHODE SUPPLIERS, ANNOUNCED

AN INVESTMENT PROGRAM OF € 300 MILLION BETWEEN 2017 AND 2019 TO INCREASE ITS PRODUCTION OF NMC (NICKEL-MANGANESE-COBALT) CATHODE MATERIALS FOR LITHIUM-ION RECHARGEABLE BATTERIES.

• N M C I S O N E O F T W O M A I N C A T H O D E M A T E R I A L T E C H N O L O G I E S F O R

RECHARGEABLE BATTERIES USED IN VEHICLE ELECTRIFICATION. THE OTHER ONE IS LMO (LITHIUM MANGANESE OXIDE)

• G L O B A L D E M A N D F O R M A N G A N E S E B A S E D B A T T E R Y C A T H O D E S I S

INCREASING FAST AND IS OUTPACING THE MARKET BY A SIGNIFICANT MARGIN

• BLOOMBERG PREDICTS THAT DEMAND IS GOING TO DRIVE THE PRODUCTION

OF MANGANESE TO INCREASE BY 100-FOLD

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• M U L T I P L E

S U R F A C E O U T C R O P S O F U N I Q U E H I G H - G R A D E M A N G A N E S E

• T H E

M A N G A N E S E M I N E D A T K . H I L L 1 9 5 7 - 1 9 6 7 C O N S I S T E D , A L M O S T E N T I R E L Y, O F H I G H - G R A D E M A N G A N E S E O X I D E N O D U L E S

• T H E

G I Y A N I G E O L O G I C A L T E A M L O C A T E D M U L T I P L E A R E A S W H E R E T H E S E N O D U L E S A R E S T I L L P R E S E N T T O D A Y

• T H E M A N G A N E S E O R E D E P O S I T S A T

K . H I L L W E R E F O R M E D B Y O X I D A T I O N A N D S U P E R G E N E E N R I C H M E N T R E S U L T I N G I N A V E R Y S T A B L E F O R M O F M A N G A N E S E O X I D E (SOURCE: BOTSWANA NOTES AND RECORDS VOL.30)

• C H E M I C A L

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

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 DIAMOND DRILLING
• ESTIMATED 25 COLLARS ON A 100 METER SPACED GRID
• MAXIMUM 100 METER DEEP DRILL HOLES
• TWO PRIORITY BLOCKS IDENTIFIED AT EACH OF THE PROSPECTS, K.HILL, AND OTSE
• 2-3 FENCES OF HOLES PER BLOCK
• DENSITY OF GRID REQUIRED FOR 3-D MODELLING, CONFIDENCE IN STRIKE CONTINUITY, DIP OF

MINRALIZED BODY, AND ESTABLISHING VARIATION IN GRADE

• 3-D GEOLOGICAL MODEL, AND BLOCK RESOURCE MODEL TO BE USED IN CALCULATING A RESOURCE

ESTIMATE AT K.HILL

• 3-D GEOLOGICAL MODEL AND GEOTECHNICAL DATA TO BE USED IN PRELIMINARY MINE PLAN DESIGN
• METALLURGICAL AND MINERAL PROCESSING TO BE USED TO ESTABLISH HIGH LEVEL ECONOMIC FACTORS

FOR EXTRACTION, PROCESS-ABILITY, AND
 PRODUCTION OF A BATTERY GRADE PRODUCT

• ULTIMATE GOAL IS TO PRODUCE A 43-101 COMPLAINT REPORT WITH A RESOURCE ESTIMATE

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 - 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

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Summary: 3 - 4 weeks planning, contractors admin, logistics and environmental compliances (February) 3 - 4 weeks of ground geophysics and definition of targets for smaller targeted approach to drilling at K.Hill 6 weeks of drilling at K-Hill and Otse Approximately 3 weeks for final analysis and construction of 3d-model and resource Approximately 4 weeks of regional survey and definition of new targets.

✓ ✓ ✓

March 10 – 31

• Field

Program – Geophysics, Target definition and Drill plan

• Geological

Oversight

June 01 – 30

• Regional

Geophysics survey and new target generation

May 15 – 30

• Analysis and

Specific Gravity

• 3d

Modelling and Resource Estimation

April 01– May 15

• Field

Program – Drilling

• Geological

Oversight

• Geological

Logging, Analysis, SG (Data Capture)

February 01 – 28

• Pre-Program

Technical Design

• Project Setup
• Access,

logistics and Environmental compliance

March 01 – 10

• Site

Inspection

• Contractor

Agreemen ts

• Finalizing

SOP`s

Blocks for geophysical surveys at K-Hill and Otse. Gravity used to resolve mineralization and plan targeted

• drilling. Data from Magnetic and IP surveys to be used as the basis for regional exploration and the definition
• f new targets.

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

K.Hill Otse

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• A I R B O R N E M A G N E T I C

D A TA , A T A 2 5 0 - M E T E R L I N E S P A C I N G , W A S F I L T E R E D , I M A G E P R O C E S S E D A N D I N V E R T E D

• R E S U L T S

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

• L I T H O S T R U C T U R A L

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

• O N G O I N G G R O U N D

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

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

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• 1 3 1 7 R E A L

T I M E K I N E M A T I C ( R T K ) S T A T I O N S A N D 1 3 1 0 G R A V I T Y S T A T I O N S C O M P L E T E D O U T O F A T O T A L O F 2 3 4 3 S TAT I O N S *

• 7

. 2 6 K I L O M E T R E S O F M A G N E T I C W A L K

• L

I N E S C O M P L E T E D O U T O F 1 2 8 K I L O M E T R E S *

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

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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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• Process report
• Enviromental impact

studies

• Enviromental

management plan

• Initial resource

estimates

• Complete 2000 m

diamond drilling program

• Complete ground and

gravity geophysics

• Metallurgical studies

B O T S W A N A M I N I N G A D VA N TA 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

• BOTSWANA IS ONE OF THE MOST ATTRACTIVE MINING

JURISDICTIONS IN SOUTHERN AFRICA WITH POLITICAL STABILITY AND TRANSPARENCY

• 26% INVESTMENT ADVANTAGE COMPARED TO NEIGHBOURING

COUNTRIES WITH ACTIVE BLACK ECONOMIC EMPOWERMENT (BEE) REGULATIONS

• GIYANI IS DEVELOPING THE ONLY MANGANESE PROJECT IN

BOTSWANA

• GOVERNMENT ROYALTY IS 3% FOR BASE METALS
• THERE IS NO IMPORT TAX ON MINING EQUIPMENT AND SPARES
• VARIABLE INCOME TAX RATE IS 25% AND A 5 YEAR TAX

EXONERATION

• SATISFACTORY FISCAL REGIME, 100% CAPITAL REDEMPTION

Angola Madagascar Zimbabwe DR Congo Mozambique Tanzania

2011 2012 2010 2013 2014 2015

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E S S E N T I A L AT 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 ECONOMICS IN MINING

SCALE

L A R G E R E S O U R C E S R E S U LT I N L A R G E PRODUCTION VOLUME AND DRIVES LONG TERM REVENUES AND PROFITS

MANAGEMENT

EXPERIENCED MANAGEMENT TEAM ENSURES FULL 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 17

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

• A C C E L E R A T E T H E K A N Y E M A N G A N E S E P R O J E C T I N T O P R O D U C T I O N
• B E C O M E T H E L E A D I N G S U P P L I E R O F S U P E R I O R F E E D S T O C K M A N G A N E S E TA I L O R E D T O

T H E B A T T E R Y I N D U S T R Y

• K A N Y E M A N G A N E S E I S H I G H - G R A D E A N D E A S Y T O M I N E
• L O W C A P E X R E Q U I R E M E N T S T O G E T T O P R O D U C T I O N
• L O W O P E X T O S U S TA I N P R O D U C T I O N I N A FA V O U R A B L E M I N I N G J U R I S D I C T I O N
• U P S I D E F O R A P R O J E C T G E N E R A T I V E M O D E L W I T H M U L T I P L E M A N G A N E S E

O C C U R R E N C E S T H R O U G H O U T G I YA N I ’ S P R O P E R T Y

• M U LT I P L E O F F - TA K E O P T I O N S W I T H B A T T E R Y A N D C A R M A N U FA C T U R E R S A S A P R I M A R Y

TA R G E T W I T H S T E E L A N D M E TA L A L L O Y M A K E R S A S A S E C O N D A R Y M A R K E T F O R E X C E S S P R O D U C T I O N

• H I G H E R R E T U R N F O R S H A R E H O L D E R S
• A D D I T I O N A L A S S E T S I N C L U D E 4 5 % I N T E R E S T I N R O C K I S L A N D G O L D P R O J E C T I N

S O U T H A F R I C A ( ~ $ 2 M ) A N D 2 0 % I N T E R E S T I N C A N O E M I N I N G V E N T U R E S C O R P ( ~ $ 1 . 8 M ) *

* 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

t h a n e i g h t e e n y e a r s o f experience in the financing and m a n a g e m e n t o f re s o u rc e companies, most recently as the Executive Chairman of Silver Bear Resources and CEO of a private E&P company as well as V.P . Investment and Corporate Banking with BMO Capital

• Markets. Mr. Birchall earned an

MBA from the University of Cape Town, a Msc in European and International Politics from Edinburgh University, a Première Degré en Langues Literature et Civilisation, from Stendahl Université and a BA from Queens University. W A J D B O U B O U M r. W a j d B o u b o u i s a n experienced executive with a 26- year history of achievements in t h e O i l & G a s a n d Telecommunications industries. S k i l l e d i n O p e r a t i o n s M a n a g e m e n t , P e o p l e a n d Financial Management, Complex Contract Negotiations, and Business Strategy. Mr. Boubou held various leadership positions in multinational conglomerates, including Schlumberger and Cisco

• Systems. He holds a bachelor’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. Daniel Crandall is a Senior

Manager at Marrelli Support Services Inc. possessing over 10 years of experience working with public companies. He specializes in providing Chief Financial Officer, accounting, regulatory compliance, and management advisory services to numerous issuers on the TSX, TSX-Venture, CSE and other international

• exchanges. Dan is a CPA, CA and

has an Honours Bachelor of Accounting (Co-op) degree from Brock University. Previously, he was a Manager at Collins Barrow Toronto LLP , a public accounting firm where he worked for over 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

19

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

• Mr. Jones is a Professional

Mining Engineer who held various mine management roles for 13 years working at Gencor, De Beers, Debswana and as Consulting Mining Engineer for Iscor. D I R E C T O R

D I R E C T O R S

E U G E N E L E E

• Mr. Lee is a mining finance

professional with experience in capital markets, financial reporting, risk management, internal controls 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 lawyer, a CPA and

global thought leader on energy and sustainability issues. He currently serves as Executive VP of ePower Engine Systems. S C O T T B R E A R D

• Mr. Breard is a marketing

professional with significant experience in start-ups and

• rebranding. He has consulted 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. Duane Parnham has a

successful track-record of developing companies from start-up to fully permitted

• projects. Mr. Parnham delivers

maximum shareholder value through extensive experience in c o r p o r a t e g o v e r n a n c e , stakeholder relations and capital markets.

20

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 April 12, 2018

21

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, vertically integrated, well managed junior resource company focused on building a superior hybrid mining company to supply raw materials needed for the fast growing global battery technology industry.

www.giyanimetals.com 22

MARKET RESEARCH SLIDES

23

M A N G A N E S E O V E R V I E W

24 MANGANESE (MN) ALLOYS SIMN: USED IN REINFORCEMENT BARS AND WIRE MESH DEMAND: ~ 13.2 MILLION MT, SUPPLY: ~ 12.8 MILLION MT HC FEMN: USED IN FLAT AND LONG STEEL PRODUCTS DEMAND: ~ 4.97 MILLION MT, SUPPLY ~ 4.9 MILLION MT RF FEMN: FLAT STAINLESS STEEL, LOW CARBON CRITICAL SURFACE FLAT STEEL DEMAND ~ 1.86 MILLION MT, SUPPLY ~ 1.84 MILLION MT ELECTROLYTIC FLAKE MANGANESE: BATTERIES DEMAND ~ 300 000 MT SUPPLY ~ 275 000 MT

SiMn HCFeMn RFFeMn Flake

M A N G A N E S E R E S E R V E S & P R O D U C T I O N S H A R E

SOUTH AFRICA UKRAINE AUSTRALIA INDIA GABON REST OF WORLD GLOBAL MANGANESE RESERVES

Source: US Geological Survey Source: Manganese Investing News

GLOBAL MANGANESE PRODUCTION SHARE

80% 10% 2% 2% 3% 3%

South Africa China Australia Gabon Brazil India Rest Of World

6% 6% 7% 17% 11% 18% 36%

25

H I G H G R A D E M A N G A N E S E 


HIGH GRADE SOURCES CAN REPLACE LOW GRADE FEED STOCK

26

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

T H E R E A R E N U M E R O U S L I - I O N B A T T E R Y C H E M I S T R I E S T H A T U S E VA R I O U S B A T T E R Y M E TA L S . G I YA N I I S F O C U S E D O N D E V E L O P I N G M A N G A N E S E S U P P LY.

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 Manganese Oxide Lithium Titanate

LiNiMnCoO2 LiFePO4 LiNiCoAlO2 Li4Ti5O12

27

M A N G A N E S E B AT 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

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

LMO METAL COMPOSITION

33% 7% 20% 20% 19% MANGANESE COBALT NICKEL LITHIUM OTHER 28

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

G I YA N I ’ S S T R A T E G Y I S T O B E I N T H E S W E E T S P O T O F B E C O M I N G T H E L E A D I N G F E E D S T O C K M A N G A N E S E S U P P L I E R T O T H E M A K E R S O F T H E H I G H E S T C O S T I T E M I N A L I T H I U M - I O N B A T T E R Y, T H E C A T H O D E .

29

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

SOURCE: KEMETCO RESEARCH

30

D E M A N D F O R M E TA 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 )

31

TECHNICAL SLIDES

32

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

33

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

34

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 AY R E S U LT S

35

36

O T S E A S S AY R E S U LT 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 <0.5-75MM 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 FA S T P R O C E S S I N G

37