Graphite planned to be produced as a co-product from the Kasiya rutile operation is estimated to sit at the lowest end of the global flake graphite cost curve

As one of the world’s largest flake graphite deposits, Kasiya has potential for a dominant market position due to production scale of a coarse flake, high purity and highly crystalline product which should be suitable for lithium-ion batteries and wider traditional industrial uses 

Kasiya’s graphite flake size distribution compares favourably to industry peers suggesting potential to achieve a high graphite basket price

Independent Life Cycle Assessment Study demonstrates Kasiya’s high quality natural graphite concentrate should have a significantly lower carbon footprint than Chinese-produced natural graphite

o  China currently produces over 75% of the world’s natural graphite, almost 80% of the world’s synthetic graphite and 100% of the world’s natural graphite anodes used in lithium-ion batteries

o  Each tonne of graphite produced from Kasiya is expected to have a Global Warming Potential of only 0.2 tonnes CO₂e which represents 5x less greenhouse gas emissions compared to natural graphite produced in the Heilongjiang Province, China

Recent independent studies published in the Journal of Industrial Ecology estimates global warming potential of synthetic graphite to be 20.6 t CO2e i.e., 103x that estimated for Kasiya’s natural graphite

Updated Scoping Study for Kasiya on track and due for completion shortly