CADOUX LIMITED — AGM Information 2017

Nov 28, 2017

29 November 2017

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ASX Release (ASX code: “FYI”)

FYI Annual General Meeting Chairman’s Address and Company Presentation

Chairman’s Address to the Annual General Meeting

29 November 2017, 8.00 am; Perth, Western Australia

Good morning everyone,

My name is Edmund Babington, Chairman of FYI Resources Limited. On behalf of the Board, I welcome you to the Annual General Meeting of the Company for 2017.

The last fiscal year has been both rewarding and challenging for the Company.

The Company has adopted a dual commodity approach being to:

• a) to develop its high purity alumina project located in Western Australia; and

• b) acquire a suitable potash project in Southeast Asia.

High Purity Alumina

The Company is very pleased with its High Purity Alumina project located at Cadoux in Western Australia. Although at an early stage, indications are that the quality of the Kaolin feedstock is suitable for treatment to produce 4N alumina. 4N alumina is aluminium oxide (or Al2O3) refined to 99.99% purity, and is used in a multitude of high specification products – particularly in the LED lighting, electronic and power storage markets.

The market for 4N alumina is also expected to increase substantially over the short to medium term. It has applications in electronics, electric vehicles and LED lighting which are rapidly developing.

The Company believes that its current reserves are more than adequate for production of 4N alumina in substantial volumes with ample reserves for direct sale as kaolin which could generate earlier cash flow for the Company.

Potash

The Company has been focusing on establishing a portfolio of target projects in Southeast Asia suitable for potash production. The Company is advancing the acquisition of a project in Laos including developing a very good rapport with the Lao government. Activities in Thailand have been constrained by the continuing delays by the Thai government in granting new mining tenements.

Potash remains a longer-term target for the Company. The need for potash in Asia and generally will only increase and both Thailand and Laos are ideally placed for development of a suitable project. The Company will continue to pursue its strategy of project acquisition over the next 12 months.

I would like to take this opportunity to thank Mr Roly Hill the managing director who has devoted a considerable amount of time and effort to advance each project.

I would like to take this opportunity to sincerely thank my fellow directors, shareholders and others within the finance community for their continued support over the past year.

Thank you

Edmund Babington Chairman

53 Canning Highway, VICTORIA PARK, WA 6100 Tel: +61 8 9361 3100 Fax: +61 8 9361 3184 Website: www.fyiresources.com.au ACN 061 289 218

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Developing strategic commodity projects

AGM 2017 Presentation

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November 2017 I

www.fyiresources.com.au I

Corporate Overview

	Capital Structure
	Item	Amount
	Fully paid ordinary shares	105.7m
	Options	10.9
	Share price	$0.058
	Market capitalisation	$6.1m
	shareholders
	Top 10	~50%
	Top 20	~75%		Corporate Structure
	Total shareholders Cash As at 28th November 2017	~2040 ~$550k		Director Mr Edmund Babington Mr Roland Hill	Role Chairman Managing Director
				Mr David Sargeant	N.E.D
				Mr Adrian Jessup	N.E.D

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FYI Summary

• ASX listed company

• Twin commodity focus

• High purity alumina (HPA)

• o Potash in Southeast Asia

Arable land per capita is likely to fall by almost one quarter between 2000 and 2030, while demand for food will increase by one half.

• Positive long term market fundamentals for both commodities

• Ground floor entry to both opportunities

United Nations The 2012 Revision of World Agriculture Towards 2030/2050 .

• Compelling technical and geographical advantages

• Experienced Board and Management

• Demonstrable record of successful project development

• Excellent exploration, development, operations, marketing and corporate capabilities

World demand for high purity alumina has gained an incredible traction, owing to growing technological advancements and increasing demand from applications

• Strong shareholder support

“FYI is building a solid project portfolio of long life quality assets”

Allied Market Research – HPA Report.

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HPA

• Alternative high grade alumina (HPA) production strategy

• HPA has desirable qualities and characteristics for many rapidly growing technologies

• US$4.4Bn market forecast 2022 / CAGR ~ 20%*

• Designed to meet a growing market forecast from: o LED

• Electric vehicle, battery and energy storage

• o Consumer and high-tech markets

• Proven flowsheet design

• 100% owned resource – ideal HPA feedstock

• Engineering and economic studies (PFS) underway

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FYI – Preliminary HPA flowsheet design
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• Anticipating positive results

• Objective to be a dominant producer

* Allied Market Research – HPA report

“FYI is well positioned to execute a world class HPA strategy”

Cadoux Mineral Resource estimate July 2017

Classification	Tons (Mt)	%-45 micron	Al%	Fe%	Ti%
Indicated	13.0	84.4	11.58	0.47	0.34
Inferred	3.1	84.4	12.5	0.69	0.49
Total	16.1	84.4	11.76	0.51	0.37

FYI’s 99.99% alumina product

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Potash

• Commodity of global importance

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• Long term development

• Southeast Asian development focus

• World class geology – dominant positioning

• Attractive project advantages over current production centres

• Good logistics and sovereign status

• Developing strategy

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• Good progress at project and government level

• Excellent long term fundamentals

• Market is improving (albeit gradually)

• Effective local team – positioned well for delivery

• “Potash demonstrates attractive investment fundamentals ”

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Year in review

FY 2017 was a busy year for FYI:

HPA

• Initiated and developing a material HPA strategy

• Completed drilling and resource expansion

• Successful metallurgical test-work – achieving 99.99% alumina

• o Developed and demonstrated effective flowsheet

• Scoping study / PFS underway

• Key markets established

Potash

• Continued target project generation

• Key project due diligence

• Strengthened in-country relationships with key govt. ministries & departments

“FYI has completed a very productive year and is eager to continue the success”

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Year ahead

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Drivers of HPA growth
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• Continue strategic positioning of HPA and potash strategies

• Progress development of competitive project advantages

• Complete HPA scoping study / PFS

• Commence HPA BFS (subject to PFS results)

• Advance HPA production objective

• Unlock significant value represented in both strategies

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• Continue to progress potash at appropriate rate

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FYI – PFS 6 month KPI schedule

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“FYI has a very active 2018 FY mapped out to increase shareholder value”

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Investor Notice

COMPETENT PERSON’S STATEMENT – CADOUX KAOLIN DEPOSIT

The information in this release that relates to the Cadoux Mineral Resource is based upon information from the Company's announcement dated 8 May and 26 July 2017 and is available to view on the Company's website at www.fyiresources.com.au. The information that relates to Mineral Resources is based on information compiled by Mr Andrew Kohler, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy. Mr Kohler is an employee of Strategic Resource Management, and consultant to the Company.

Mr Kohler has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity that he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Mineral Resource estimate comply with recommendations in the Australian Code for Reporting of Mineral Resources and Ore Reserves (2012) by the Joint Ore Reserves Committee (JORC). Mr Kohler consents to the inclusion of the report in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

COMPETENT PERSON’S STATEMENT – METALLURGY

The information in this release that relates to metallurgy and metallurgical test work is based on information reviewed and compiled by Mr Daryl Evans, a Competent Person who is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM). Announcements in respect to metallurgical results are available to view on the Company's website at www.fyiresources.com.au.

Mr Evans is an employee of Independent Metallurgical Operations Pty Ltd, and is a contractor to FYI. Mr Evans has sufficient experience that is relevant to this style of processing and type of deposit under consideration, and to the activity that he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code). Mr Evans consents to the inclusion of the report in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements dated 5 September and 23 October 2017 and that all material assumptions and technical parameters underpinning the findings in the relevant market announcement continue to apply and have not materially changed.

FORWARD LOOKING STATEMENTS

Certain statements contained in this presentation, including information as to the future financial or operating performance of FYI Resources Ltd (‘FYI’ or ‘the Company’) and its projects, are forward-looking statements. Such forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by FYI, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements, and may include, among other things, statements regarding targets, estimates and assumptions in respect of commodity prices, operating costs and results, capital expenditures, ore reserves and mineral resources and anticipated grades and recovery rates and are, or may be, based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

FYI disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and other, similar expressions identify forward-looking statements. All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such factors include, but are not limited to: competition; mineral prices; ability to meet additional funding requirements; exploration, development and operating risks; uninsurable risks; uncertainties inherent in ore reserve and resource estimates; factors associated with foreign operations and related regulatory risks; environmental regulation and liability; currency risks; effects of inflation on results of operations; factors relating to title to properties; native title and Aboriginal heritage issues; dependence on key personnel, and share-price volatility. They also include unanticipated and unusual events, many of which it is beyond the Company’s ability to control or predict.

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Photographs in this presentation do not depict assets of the Company.

Contact Details

For further details please contact:

Roland Hill

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Managing Director FYI Resources info@fyiresources.com.au +61 8 9361 3100 www.fyiresources.com.au 53 Canning Highway Victoria Park WA 6100 ASX: FYI

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