Investor Presentaiton

16 Epembe and Lofdal: First Positive Results of Ore Sorting Lofdal and Epembe share similar potential to significantly upgrade ROM feed grade through upfront sorting. Both projects have undergone preliminary test work using XRT (x-ray transmission) and XRF (x-ray fluorescence) sorting technologies with positive results. Epembe has achieved 5-8X upgrades for Ta-Nb on XRT test runs and 3-4X upgrade with XRF static tests Lofdal has achieved 1.5-2X upgrades on XRT test runs and demonstrated amenability to XRF with 1.5-2X upgrades with static XRF tests on low grade samples Both technologies will be tested and optimized on bulk samples currently in Joburg (18 t from Lofdal and 25 t from Epembe) NAMIBIA CRITICAL METALS TOMRA XRT Test Facility Hamburg Rados XRF Test Facility Joburg

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