Ann: Positive DFS for Platina Scandium Project, page-4

13 DECEMBER 2018 HIGHLIGHTS
• Attractive financial return – Post-tax, real NPV8% USD 166 million (AUD 234 million), after tax IRR 29% and fast payback of 5.3 years based on average scandium oxide price of USD 1,550/kg
• Staged production strategy – 20 tonnes/year of 99.99% purity scandium oxide growing to 40 tonnes/year as market demand increases
• Low development capital cost – Stage 1 USD 48.1 million (AUD 67.8 million) and stage 2 USD 11.1 million (AUD 15.6 million) • Long life – Initial 30 year project life based on mining 33% of the Ore Reserves, with potential to significantly expand from both existing Ore Reserves and conversion of additional Mineral Resources
• Significant opportunity to enhance project value through resource expansion and the production of by-product credits including cobalt, nickel and high-purity alumina