CONICO LTD — Investor Presentation 2017

Nov 23, 2017

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Conico Ltd

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DISCLAIMER

Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the exploration industry, expectations regarding commodity prices, production, cash costs and other operating results, growth prospects and the outlook of Conico Ltd (“CNJ”) operations; contain or comprise certain forward-looking statements regarding CNJ’s exploration operations, economic performance and financial condition.

Although CNJ believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.

Accordingly, results or outcomes could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in commodity prices and exchange rates and business and operational risk management. CNJ undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events.

MT THIRSTY COBALT PROJECT

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Mineral Resource Category	Tonnes	Cobalt (Co) (%)	Nickel (Ni) (%)	Manganese (Mn) (%)
Indicated	16,600,000	0.14	0.60	0.98
Inferred	15,340,000	0.11	0.51	0.73
Total Mineral Resource	31,940,000	0.13	0.55	0.86

available to view at www.mtthirstycobalt.com.

Mt Thirsty Cobalt Project – Sco in Stud p g y

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Item	Base Case Cost	Range
Process Plant Throughput	1.5Mtpa
Cobalt Head Grade	0.12%
Nickel Head Grade	0.52%
Recovery Rate - Agitated Leaching – Cobalt	73%	73% to 80%
Recovery Rate - Agitated Leaching – Nickel	21.5%	20% to 27%
Construction and Commissioning Period	24 months
Life of Mine	21 Years
Exchange Rate	US$/A$ 0.74
Operating Costs	A$43/t	A$38.7 to A$47.3/t
Capital Costs	A$212m	A$190m to A$232m
**NPV8 **	A$290m	A$245m to A$335m
Cumulative Net Cash Flow	A$746m	A$651m to A$840m
IRR (After Tax)	21.5%	18.7% to 24.3%

Mt Thirsty Cobalt Project – Sco in Stud p g y

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-
Cobalt Supply Demand (LHS, kt) vs Price
(RHS, US$/lb)
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Nickel Price forecasts
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Mt Thirsty Cobalt Project – Sco in Stud p g y

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Sulphur
Sulphur SO2
Air
Dioxide Plant Limestone
Steam
ROM Primary Milling & Atmospheric Primary
Crushing Classification Leaching Neutralisation
Sodium Sulphide
Counter O/F Mixed Sulphide Mixed Sulphide Cake MSP Product
Current
Precipitation Precipitation SLS Handling
Decantation
U/F O/F
CCD Wash Liquor
&Filtrate
MSP Product
Limestone
Tailings Tailings
Lime Neutralisation Storage
Liquor Bleed
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Strong Market Fundamentals due to Government Mandated move to Vehicle Electrification

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Strong Market Fundamentals

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Mt Thirsty Cobalt Project

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Mt Thirsty Cobalt Project

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Mt Thirsty Cobalt Project

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Mt Thirsty Cobalt Project

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Late CY
2020
Mid CY
2019
Early to Mid
CY 2019
Mid to
Late CY
2018
Construction
Permitting/
Complete-Plant
Decision to
Commissioning
Feasibility
October Mine
2017 Study
Pre Feasibility
Study
Scoping Study
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Mt Thirsty Cobalt Project

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