Sembehun Project Feasibility and Market Dynamics slide image

Sembehun Project Feasibility and Market Dynamics

Area 1 Operations Area 1 represents an established well understood operation that is positioned to deliver value and support the transition to Sembehun. Sierra Rutile Limited Overview Location & Size 541Kt Contained Rutile Ore Reserve¹ 144kt FY22 Rutile Production Guidance² 2.1Mt Contained Rutile Mineral Resource¹ US$892/t of rutile FY22 Unit Cost Guidance (net of co-products)³ Work program to extend the Area 1 LOM Plan is underway Products Mining method Processing4 . Standard Grade Rutile (SGR) Industrial Grade Rutile (IGR) High-grade ilmenite Zircon-in-concentrate (ZIC) Dry mining: truck and excavator with dozer support. Four wet concentrator plants (WCPs) producing mineral concentrate with feed capacity of 500-600tph. Mineral concentrate from Area 1 is processed in the mineral separation plant (MSP), which includes a feed preparation plant and dry plant. The MSP has capacity to produce 175ktpa of rutile. Gbeni Sembehun deposits Proposed mine development Freetown Legend MAP AREA Area 1 Deposits Tenure Sembehun Deposits Tenure Other Deposits Tenure Inferred Resources Measured & Indicated Resource Previous Mining Nitti Port Gangama & Taninahun Mineral Separation Plant Rivers Roads Ndendemoia Other assets Products are exported through the Nitti Port facilities situated in the Area 1 mining lease. The mine also maintains an extensive network of water supply ponds, power generation facilities, accommodation for senior and management staff, offices, extensive workshops, laboratory, a clinic and roads. Gbeni (Southern extension) 10 km Pejebu Lanti 245444v0 Note: (1) Ore Reserve and Mineral Resource estimate as at 31 December 2021. Please see Appendices F and G for more information. (2) Inclusive of TiO2 in concentrate (TIC). Please see Appendices D and E for more information. (3) Unit cash costs (net of co-products) represent the total cash costs of production less the revenue earned from co-products (ZIC and ilmenite), divided by the total tonnes of rutile produced (inclusive of TIC). (4) Please see Appendix B for more detail. 12
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