So massively undervalued, page-7

TMT & Vanadium:

Material increase in the global resource,and importantly the Indicated Resource estimate that will support a materialextension of mine life.

Pilot plant testwork to generate highpurity final product for end-user testing 

Progression of discussions with potentialoff takers / end users

Assisted by specialist advisers, TMT istargeting a range of jurisdictions including China, Japan, Korea, India andEurope

Targeting steel industry for majority offorecast output, supplemented by the specialty alloy and battery sectors

Aiming to secure fixed volume off takeagreements with potential linkage to equity / project investment and / orprepayments

Delivery of high quality DFS to facilitatesecuring of project financing package”

Feb 2019 - $4.5M funding secured to advance DFS Upcoming Catalysts

Material increases in global resource

Pilot plant testwork  

Offtake discussions » Delivery of DFS mid2019

The main use of vanadium is in steelalloys; a small amount of vanadium adds strength, toughness and corrosionresistance, thereby reducing the weight of steel required for specific purposes.

By 2025, it’s estimated that 85 percent ofall cars will use vanadium alloys to reduce their weight, increasing fuelefficiency to suit stringent fuel economy standards.

Titanium-aluminum-vanadium alloy is used injet engines and for high-speed aircraft

Current V2O5 pricing reflects surgingChinese demand and limited readily available supply.

CHINA US$15.00 – 16.00/lb ▪ EUROPE US$17.00– 17.75/lb

15 – 20% premium for high purity product. ▪Global deficit forecast to increase to ~21,300t V (~37,900t V2O5) in 2025(Source: TTP Squared).

 

VRB

Vanadium Redox Batteries (VRB’s) provide anefficient storage and re-supply solution for renewable energy, suitable forlarge-scale applications.

▪ VRB’s are able to time-shift largeamounts of previously generated energy for later use – balancing solar and windintermittency.

▪ Vanadium ions in different oxidationstates are used to store energy; battery capacity expandable by adding morestorage tanks.

▪ VRB and chemical industry vanadium demandset to climb to 23,730t V metal by 2020.

 

Thisinformation from TMT customer presentation. What is missing here?

Vanadiumprice reasonable and reliable.

Demand for “HighGrade Vanadium” steadily increase

TMT hasgreat financial discipline and structure

TMT has oneof the best High-Grade Vanadium globally. If you have vanadium and if it is nothigh grade, then you have business in this market Higher grade resourcesupgrade will definitely reduce the processing cost significantly. This will increaseprofitability.

TMT hasgreat position to develop Gabanintha successfully sooner than any potential producer 

Vanadium isnot alternative of other energy metals as some manipulator use this argument.

Vanadiumhas no alternative for steel making and VRB

Some of the traders, manipulators, rampers try to undermine Vanadium and VRB without hope

 

“Thereality is Vanadium a metal we can’t do without”.