Uley 2 at a Glance

Project Overview

Status: DFS completed for Uley 2 (Stage 1)

Location: Eyre Peninsula, South Australia; 20km west-south-west of Port Lincoln

Government approvals: All approvals obtained pursuant to Program for Environment Protection and Rehabilitation – PEPR 2014/110

Scheduled start of development: Upon close of funding

Stage 1 mine life: 12 years (Stage 1)

Stage 1 production level: Uley 2 processing plant will produce a minimum of 100,000 tonnes of high purity coarse flake

Graphite mineral processing: Liberation of graphite particles through crushing and grinding followed by floatation and polishing sections. Multi-stage polishing critical to enhanced flake graphite recoveries and maximising purity and coarse flake size

Graphite beneficiated to 99.9%: Following mineral processing, graphite flakes will be beneficiated to 99.9% by Sunlands Pure utilising Sunlands Energy Co. technology

Offtake agreements in place: Binding offtake agreement executed with Swiss trading group MRI Trading AG for 50% of Uley 2 production for a minimum of 5 years

Definitive Feasibility, Reserves & Resources

Definitive Feasibility Study & Mining Study Highlights

Life of Mine key economic and financial input parameters and modifying factors

Process Plant Feed 1,200,000 tonnes per annum
Graphitic carbon grade 11.89%
Graphitic carbon recovery 84%
Concentrate purity >97% total graphitic carbon (TGC) for coarse flake
Processing Cost A$236.05 per tonne
Mining Cost A$2.5/t milled at surface plus 5c for every 4m
Operating Costs (ex working) A$439 dmt
Product Price US$1,225 dmt

Base case Uley 2, stage 1 delivers robust project economics. Further optimisation work including beneficiation study to increase the flake purity to >99% greatly enhances project economics.

Location Map
ML 5562

Area: 187.5ha
Expiry: 1 October 2021

1 of 8
ML 5561

Area: 22ha
Expiry: 1 October 2021

2 of 8
RL 66

Area: 22ha
Expiry: 16 March 2024

3 of 8
RL 67

Area: 44ha
Expiry: 16 March 2024

4 of 8
Major exploration target Included within EL 6224
Area: 75km2
Expiry: Renewal Pending 5 of 8
Major exploration target Included within EL 6224
Area: 75km2
Expiry: Renewal Pending 6 of 8
Major exploration target Included within EL 6224
Area: 75km2
Expiry: Renewal Pending 7 of 8
Major exploration target Included within EL 6224
Area: 75km2
Expiry: Renewal Pending 8 of 8

Mineral Resource estimate for Uley 2 (3.5% total graphitic carbon cut-off)

Resource Classification Tonnes
Uley 3 Inferred 900 6.6 2.1 59
Uley 3 Total 900 6.6 2.1 59
Uley 2 Measured 800 15.6 2.1 125
Indicated 4,200 10.4 2.1 435
Inferred 1,300 10.5 2.2 137
Uley 2 Total 6,300 11.1 2.1 697
Uley Project
TOTAL 7,200 10.5 2.1 757

Significant resource expansion potential within the Uley 2 resource envelope. In addition, extensional drilling of Uley 2 South, Uley 3 and Uley South supports multi-decade resource expansion.

This is our resource expansion path.

Contact us.

Head Office

Quantum Graphite Limited
349 Collins Street
Melbourne, Victoria, 3000

Investor Relations

Enquiries to be addressed to the Company Secretary

E: info@qgraphite.com

© 2021 – Quantum Graphite Limited

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