K.Hill Project
K.Hill Project Investment Highlights
Well positioned to leverage the growth in the battery electric vehicle market
Low carbon, sustainable resource project in mining friendly jurisdiction
Experienced management and board with a track record of successful project delivery
PEA 2023 - Robust economic returns: A post tax NPV8 of US$984M (C$1.3bn) and a post-tax IRR of 29%
PEA 2023 - Average plant feed grade of 19.1% MnO in the first 5 years of production, with an average grade of 17.3% MnO for the first 25 years of production
*Feasibility Study November 2022

ROUTE TO MARKET
5 seaports accessible by rail and road with cost effective shipping to Asia, Europe and North America
INFRASTRUCTURE
The K.Hill Project is located near the 45,000-inhabitant town of Kanye, which hosts good rail and road connections, sufficient water supply, a 167-bed hospital and reliable power connectivity
JURISDICTION
Botswana is consistently rated as one of the most attractive African countries for supporting investment in mining, due to favourable tax regulations and efficient government processes
Preliminary Economic Assessment (July 2023)
Net Present Value | Post-tax NPV(8%) US$984 M (C$1.3B) |
Internal Rate of Return | 29.4% after tax |
Capex | US$284M |
Project Life | 57 years |
Total Project Production | 3,561 Kt of High Purity Manganese Sulphate Monohydrate |
Mining Method | Open pit, free-digging mining |
Other Prospects
OTSE
- High-grade supergene podiform manganese oxide mineralisation, with a high manganese to iron ratio of ~8:1
- The licenses includes two small-scale historically mined pits (<20m depth x ~70m long), which are 2km apart
- Mineralisation at surface and in present in the old pits
- Work to date consists of 6 diamond core drill holes and geophysical survey
- 40km from K.Hill
- Within 2km of a railway the A1 highway
LOBATSE
- Manganese oxide mineralisation hosted in a siliceous shale (similar mineralisation style to K.Hill)
- Outcropping at surface and dipping at ~30 degrees towards the east
- Strike length ~2km
- Work to date consists of 3 diamond core exploration drill holes
- Historical artisanal mining in the area
- 50km from K.Hill
- Adjacent to the A1 highway and 1km from the border with South Africa