INVESTMENT HIGHLIGHTS

Kalbar Operations Pty Ltd (“Kalbar”) is a mineral sands development company with its principal asset located in Victoria, Australia. Kalbar owns 100% of the zircon rich Fingerboards Mineral Sand Project (“Fingerboards Project” or the “Project”) which is an advanced stage, high grade mineral sands project containing zircon, rutile, ilmenite and rare earths. These minerals have a broad range of uses including in; ceramics, tiles, pigment coatings, catalytic converters, water purification, specialist foundry alloys, electric vehicles, permanent magnets and wind turbines.

The deposit was discovered in 2004 by Rio Tinto and has the potential to be high margin operation (1st quartile on the industry revenue-to-cost curve) and is currently ranked by the leading industry consultant as the best zircon project on an inducement pricing basis, driven by the zircon rich mineral assemblage. The Project is scoped with a 15-20 year mine life and can produce approximately 575kt pa of high-quality heavy mineral concentrates accessing key end markets in Asia. The project is expected to create ~200 direct jobs over the life of the project and deliver significant economic benefits for the region.

Appian is partnering with experienced management team and shareholders who have an excellent track record of asset development in the mineral sands sector. Kalbar is in the process of undertaking an updated feasibility study building on the excellent technical work completed to date.

For more information about Kalbar Operations, please click here.