CADOUX LIMITED — AGM Information 2013

Nov 28, 2013

==> picture [260 x 102] intentionally omitted <==

Growing a Potash Business Annual General Meeting Presentation 29[th] November 2013 I www.fyiresources.com.au

ASX:FYI

Potash Project Announcement

• Thailand Potash Strategy announced (13 /11/ 2013)

• Targeting high grade, large tonnage deposits

• Commencing on Khorat Plateau, NE Thailand

• Emerging potash province

• Outlined by DPIM (Mines Dept) by drill program in 1970s

• Declared region of national importance

• Very little exploration undertaken since

• FYI established a well defined potash exploration and development strategy

• Assembled an expert in-country potash team

• Asia Pacific Potash Resources (APPR)

==> picture [229 x 196] intentionally omitted <==

----- Start of picture text -----

China
India
Burma
Bangkok * Cambodia
The Philippines
Indonesia
----- End of picture text -----

• Well qualified and credentialed group

• APPR to manage in-country exploration and administration

• Progress strategy under FYI direction

==> picture [38 x 27] intentionally omitted <==

Page 1

FYI Strategy

• Primary focus is the discovery of high grade, large tonnage potash deposits that can be profitably developed

• Establish a technical and corporate presence

• Leverage off the assembled in-country potash exploration and development team

• Advance the SPL applications and associated administrative documentation

• Once granted, proceed with accelerated exploration activities

• Included in budget for:

• Data base review

• Initial geophysics program

==> picture [181 x 253] intentionally omitted <==

• Broad drilling campaign

• Progress strategy to resource status

• Define markets, partners, processing options

• Continue to define further in country potash opportunities

==> picture [38 x 27] intentionally omitted <==

Page 2

Project Attributes

• World class geology / structures for potash

• Under explored province

• Demonstrable technical production advantages over European and North American production

• Technically supported strategy – extensive data base

• partnering with first rate in-country management team

• Nearby proximity to current potash production

==> picture [245 x 180] intentionally omitted <==

• Current global supply deficit / positive long term forecast

• Thailand is a net importer of potash

• Excellent national and provincial infrastructure and services

• Good time zone to Perth (-1hour)

• Reasonable travelling distance

• ~ 7 hours / direct flight

==> picture [38 x 27] intentionally omitted <==

Page 3

Why Potash

• Commodity of primary importance

• Cannot be man made or substituted

• Has wide application – consumed in 150 countries

• Important in agriculture for improving water retention, yield, nutrient value, taste, colour, texture and disease resistance of food crops

• Long term market pricing fundamentals are sound

• Supply is highly concentrated

• Global production is ~ 50MT pa / market is in deficit

• Demand is growing at ~ 3-4% pa

• Forecast demand is 63MT in 2015 / 75Mt in 2020

• Pricing is relatively insignificant to producer

• Additional $100/t cost equates to ~$0.03 / bushel of corn*

• Furthermore, $1.00 spent on potash yields an additional $3.00 in crop returns *

• Transformation in the potash pricing, markets and supply

• Market dynamics looks robust despite recent cartel issues

Potash Sample

Some Definitions

Potash: General term for Potassium compounds and potassium-bearing minerals

Sylvinite: Mineral mix of 30% potassium chloride (KCl) and 65% sodium chloride (NaCl)

Carnalite: Mineral compound of hydrated potassium magnesium chloride (KMgCl3.6H2O)

==> picture [38 x 27] intentionally omitted <==

Page 4

• Source: Potash Corp

Why Thailand

• Asia, particularly Thailand, is chronically underinvested in potash

• Strategic geography advantage over European & North American production

• Thailand is looking to change the market dynamic

• Thailand is a growing mining jurisdiction

• Changes are being reflected in pro mining legislation

• Thailand is emerging as a significant resources jurisdiction – particularly in potash

==> picture [256 x 159] intentionally omitted <==

• Presence of leading service providers with international standards

• Thailand has a low comparable sovereign risk

• High corporate and commercial “visibility’ in Thailand

• Advanced national mining law

• Competitive labour, cost regime in relation to Australia

==> picture [38 x 27] intentionally omitted <==

Page 5

Investment Highlights

• Potash has excellent long term fundamentals

• Huge sector interest – including majors

• Participants jockeying for position

• Current and mid term forecast is a supply deficit

• Thailand is an emerging world class potash province

• Natural and economic advantages over current production

• High grade

==> picture [266 x 177] intentionally omitted <==

  - Large tonnage

  - shallow

  - Cost effective

• Asia accounts for ~45% of global potash

• consumption

• Thailand is a net importer of potash

• Thailand is a hub to Asia and a centre for major trade routes

==> picture [38 x 27] intentionally omitted <==

Page 6

Steps

==> picture [43 x 105] intentionally omitted <==

==> picture [43 x 100] intentionally omitted <==

==> picture [43 x 103] intentionally omitted <==

• Strategy implementation agreement signed between FYI & APPR

• Structuring and registering of locally controlled operating companies

• Thai data base and drilling review

• Assembling of local technical team

• Applying for project SPL’s (tenements)

• Planning initial works program

• Establishing in-country base

• Signing third party service provider agreements

• SPL (tenements) granting / access to properties

• Preliminary / follow-up geophysical survey

• Reconnaissance drilling program

• Detailed core logging and analysis

==> picture [259 x 173] intentionally omitted <==

==> picture [38 x 27] intentionally omitted <==

Page 7

Summary

==> picture [181 x 367] intentionally omitted <==

Excellent strategy; Exciting short and long term potential; Good technical and corporate structure; Good timing; Market appeal; Broad interest.

Emerging potash province; Great geology - classic deposition model; High grade; Large tonnage; Shallow; Simple and cost effective development options.

Early entrant into province; Good address & well located SPL’s; Cost effective strategy; Exploration upside; Development focus.

World class in-country exploration and development team; Experienced corporate group; access to capital; Enviable track record; focused and motivated.

Food security issues; Forecast population increases; Diminishing arable land; Produce quality and taste; Underpinned market.

Thailand is an Asian hub; Proximal to large trading routes; Ideal export centre; Door step to 45% potash market; All net importers.

==> picture [38 x 27] intentionally omitted <==

Page 8

Thailand – Quick Facts

• Thailand is the world's 51[st] largest country by total area ~513,000 km[2] (198,000 sq mi)

• Is the 20[th] most populous country (around 64 million people)

• The country is a constitutional monarchy

• The primary religion is Buddhism, practiced by around 95% of the population

• Thailand is an emerging economy and considered as a newly industrialised country

• It functions as an anchor economy for the neighbouring developing economies of Laos, Burma, and Cambodia

• Thailand has a GDP worth >US$600 billion – making it the 2nd largest economy in Southeast Asia, after Indonesia

• Thailand is the world's no.1 exporter of rice - more than 6.5 million tons annually

==> picture [181 x 121] intentionally omitted <==

Flag of Thailand

==> picture [87 x 92] intentionally omitted <==

Emblem of Thailand

• Thailand has the highest percentage of arable land, 27.25%, of any nation in the Greater Mekong Subregion

• Forty-nine percent of Thailand's labour force is employed in agriculture

==> picture [38 x 27] intentionally omitted <==

Page 9