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EV RESOURCES LTD Investor Presentation 2026
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eversources
Corporate Presentation
High-Grade Antimony. Near-Term Production. North Americas Focus
RIU Resources Round-Up, May 2026
ASX: EVR
DISCLAIMER
This presentation has been prepared by EV Resources Limited (ASX: EVR) (EVR or the Company). It contains general information about the Company's activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only and is not a recommendation as to whether to invest in EVR shares. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on EVR management estimates.
This presentation does not include all available information on EVR, and any potential investor should also refer to EVR's Annual Reports and ASX releases and take independent professional advice before considering investing in EVR.
No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of EVR or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or
returns are by their nature subject to significant uncertainties and contingencies. Past performance is no guarantee of future performance.
This presentation may contain "forward-looking statements" within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance.
These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of EVR and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and EVR assumes no obligation to update such information.
This presentation contains information relating to exploration results extracted from ASX announcements reported previously in accordance with the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (2012 JORC Code). 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.
The information in this release that relates to Exploration Results is based on information compiled by Mr Mike Brown who is a Member of the Australian Institute of Geoscientists (MAIG). Mr Brown is the MD and CEO of EVR. Mr Brown has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Brown consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.
evresources.com.au | ASX: EVR
2
EVR VISION
NEAR-TERM, NORTH AMERICAN ANTIMONY SUPPLY, LEVERAGING THE CRITICAL MINERALS SUPPLY GAP
evresources
100%
Ownership
NEVADA ANTIMONY PROJECTS: DOLLAR & MILTON
Formation of a strategic antimony portfolio in Nevada, acquiring 100% ownership of the past producing Dollar & Milton Projects.
70%
Ownership
LOS LIRIOS ANTIMONY PROJECT
Los Lirios is uniquely positioned to become a potential world class, high-grade, low-impurity source of antimony for US & global markets.
Milton Project
Nevada, USA
Dollar Project
Nevada, USA
Los Lirios Project
Oaxaca, Mexico
Tecomatlan Plant
Puebla, Mexico
TECOMATLAN PROCESSING PLANT
EVR has secured a 150-tonne-per-day (TPD) processing plant targeting strategic, near-term production with increased scalable potential and nearby ore sourcing.
evresources.com.au | ASX: EVR
NORTH AMERICAN SUPPLY SOLUTION EVR INVESTMENT RATIONALE
evresources
NEAR TERM CASH FLOW OPPORTUNITIES
Tecomatlán Plant
- Plant offers hub and spoke model for local and regional artisanal miners.
- Low CAPEX and simple gravitational processing (Phase 1).
- Scalable flotation/leaching circuit adds further upside (Phase 2).
- Active mechanical and electrical refurbishment underway; dry commissioning of grinding circuit imminent.
- Potential cash flow as early as 2H CY26.
- Ramp up operations - Pilot Plant for Los Lirios.
MID-LONGER TERM SUPPLY
Los Lirios Antimony Project
- High-grade inc 30.2% Sb from pit channel sampling¹
- Scale potential from >6 km structural corridor, with parallel trends.
- CRD style, globally the largest source of antimony production.
- Simple metallurgy showing 90.8% recovery of Sb².
- JORC Resource Estimate: targeting Q3 CY2026.
Nevada Antimony Projects
to support US domestic supply initiatives.
- Dollar: up to 15.05% Sb, 17.8% Cu and >10,000ppm Ag⁵
- Milton: up to 9.82% Sb, 24.0% Cu and 434ppm Ag⁶
VALUE DRIVERS
Antimony Production Capability: Tecomatlán operational by end of 2H2026.
Positioned as a Western antimony supplier:
Supply dominated by China (60-70%) and Russia (10-20%).
Leveraged to benefit from strategic supply chain security programs and US govt funding.
SUCCESS DRIVERS
Refreshed management team
Experienced Board with +100 years global mining and project delivery experience and a strong in-country team.
Institutional backing from Tribeca + offtake/financing MoUs with Wogen/XCLRI.
evresources.com.au | ASX:EVR
ANTIMONY MARKET SUPPLY, DEMAND, OPPORTUNITY
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GROWING DEMAND
- Forecast to grow significantly (~6.5% CAGR to 2032!) due to increased demand from diverse applications including
- Military and defence
- Flame retardants
- Energy storage
- Alloys
SUPPLY CHAIN VULNERABILITY
- Global supply highly concentrated with China controlling 60% production and ~90% refining capacity, presenting significant risk.
- Recent actions by dominant suppliers (eg China's export controls) create significant uncertainty/price volatility.
PRICING IMPLICATIONS
- Finite global reserves, and few high-grade accessible, deposits.
- Significant supply deficit outlook and pressure for new, diversified sources.
www.evresources.com.au | ASX: EVR
Sources: 1. Antimony Market (2024 – 2032) – Fortune Business Insights 2. U.S. Geological Survey, Mineral Commodity Summaries, February 2026
US CRITICAL MINERAL SECURITY STRATEGY
evresources
The US has a critical, well-funded and non-negotiable need for antimony from reliable, non-adversarial sources, directly aligning with EVR's strategy of developing Antimony assets in allied jurisdictions (Mexico & USA).
DESIGNATED US CRITICAL MINERAL
National Security:
Critical for defence application (munitions, alloys, night vision) and key infrastructure resilience.
Economic Security:
Essential for advanced tech and manufacturing sectors, incl renewable energy and advanced batteries.
Dependence Risk:
US is 99% reliant on foreign sources for its primary antimony supply, posing strategic vulnerability.
US GOVT DOMESTIC/ALLIED SUPPLY INITIATIVES
Defence Protection Act (DPA):
US$1B of funding and support for projects that strengthen domestic supply chains.
OBBB Act:
+US$7.5B to strengthen US supply chains and replenish DoD stockpiles from domestic/allied sources.
Infrastructure Investment & Jobs Act:
+US$6.4B to advance critical minerals processing, batteries and recycling.
US-AUS Framework:
+US$3B joint pledge to invest in a pipeline of critical minerals projects in both countries.
EVR: THE SOLUTION
Secure Dual Supply:
Stable, 'allied-friendly' source of near-shore (Mexico) and domestic (Nevada) supply.
Fast-Track:
Tecomatlán provides viable near-term production opportunity.
Grade is King:
Los Lirios offers high-grade low impurity stibnite supply potential.
US Hub:
Nevada projects strategically close to the Hawthorne Stockpile and DoW.
evresources.com.au | ASX: EVR
Source: (1) Discovery Alert
 |
||
|---|---|---|
TECOMATLÁN PROCESSING PLANT
LOW CAPEX, NEAR-TERM CASH FLOW
evresources
The acquisition of the Tecomatlán Plant firmly positions EVR as a first mover in North American antimony supply, underpinning its strategy to fast-track development and production of this critical mineral.
150tpd
Initial nameplate capacity with scalable, upgrade potential.
US1.8M¹
Lease with purchase option incl staged, milestone-based payments.
2H CY2026
Expected commissioning date. Targeting regional ore feedstock for near-term cash flow.
PHASE 1
Simple low-CAPEX, gravity circuit (90.8%Sb recovery²).
PHASE 2
Flotation/Leaching circuit for sulphide ore (99.2% recovery²).
50km
Only 50 km from Los Lirios with grid power 100m from site.
evresources.com.au | ASX: EVR
Sources: ASX Announcement 1518 Fast-Trade Antimony Production with Acquisition of Tecomatlán Processing Plant® dated 20 October 2020
- ASX Announcement "Exceptional Antimony Recovery Confirmed at Los Lirios" dated 16 December 2025
TECOMATLÁN PROCESSING PLANT
DE-RISKED REFURBISHMENT & COMMISSIONING STRATEGY
evresources
Installation design complete, including equipment and contracting costings
PHASE 1
TWO-STAGE GRAVITATIONAL PROCESSING
CONSTRUCTION ACTIVITIES
- Modernise crushing and grinding circuits.
- Commissioning of existing ball mills.
- Installation of 2 gravity concentrators, tailings thickener and filter press.
- Grid connection (100m from site) for power options, with existing diesel back-up.
MINOR PERMITTING REQUIREMENTS
- Secure Change of Soil use (Owner).
- Prepare Informe Preventitivo for Refurbishment of Tecomatlán plant.
METALLURGY
- Simple gravity concentrators (90.8% Sb recovery²).
- Collect sample ore from artisanal miners for gravitational testing.
PHASE 2
FLOATATION/LEACHING PROCESSING
METALLURGY
- Optimal processing for sulphide ore.
- Initial recovery of 99.2% Sb from high-grade Sb sample (31.2% Sb)².
- Subject to met testing from drill core
- Collect representative sample core from mineralisation to establish optimal processing path.
DESIGN & ENGINEERING
- Subject to met testing from drill core.
PERMITTING
- Baselines commenced, EIA to be finalised when design completed.
evresources.com.au | ASX: EVR
Sources: ASX Announcement "High Grade Antimony and fast-track production potential at Los Lirios" dated 3 July 2025 and "High Grade Antimony Samples from Los Lirios" dated 12 February 2025, and "Exceptional Antimony Recovery Confirmed at Los Lirios" dated 16 Dec 2025.
TECOMATLÁN PROCESSING PLANT
GRAVITY CIRCUIT FLOWSHEET
evresources
FEEDSTOCK
Source A: Local and Regional Ore
Source B: Los Lirios 'Pilot Ore'
ANTIMONY ONE
ANTIMONY CONCENTRATE
GRADE: 22% - 36% Sb
MARKET: Direct to Smelter/Offtake
SOLID TAILINGS STORAGE
88 TO 85% SOLIDS
Safe, dry, environmentally benign storage
TAILINGS GRADE: Extremely low (-0.37% Sb)
evresources.com.au | ASX: EVR
TV resources
LOS LIRIOS
LOS LIRIOS ANTIMONY PROJECT
LARGE-SCALE, HIGH-GRADE ASSET WITH HISTORIC PRODUCTION
evresources
70%
EVR share of historically producing antimony mine.
1,552ha
Extensive, underexplored and open CRD system confirmed.
>6km
Structural corridor, parallel trends, historical antimony workings.
30.2% Sb¹
High-grade channel samples, proven 90.8% recovery²
JORC Q3
Maiden drilling results imminent & maiden JORC MRE targeted Q3 CY26.
USD$3M
Strategic offtake + funding (2US$3M) partnership with Wogen.
evresources.com.au | ASX: EVR
Sources: 1. Refer ASX Announcement "Exceptional Channel Sampling Results up to 30.2% Sb Confirm Widespread Antimony at Los Lirios" dated 24 February 2020; 2. ASX Announcement "Acquisition of Los Lirios Antimony Mine (EVR:70%), Mexico dated 28 January 2025
LOS LIRIOS ANTIMONY PROJECT
LARGE-SCALE STRUCTURAL SYSTEM
evresources
High-grade mineralisation
hosted in a geologically significant structural setting
-
Located in northern Mixteca Terrane, Oaxaca – complex region known for its metal endowment.
-
Structurally controlled hydrothermal system with antimony occurring as sulphides stibnite and cervantite (oxide).
-
6km Lirios Fault Zone (LFZ) acts as principal fluid conduit. Ductile gypsum layers acted as barrier/cap, forcing fluids laterally to replace a gently folded, shallow silicified CRD unit 2-5m thick¹.
Three styles of target mineralisation identified
- Shallow, extensive, high-tonnage CRD.
- Vertical high-grade feeders (LFZ).
- Hydrothermal breccias (Hormiguero).
evresources.com.au | ASX: EVR
Sources: 1. ASX Announcement "EV Resources Defines Large-Scale, Shallow CRD Antimony System at Los Lirios" dated 14 April 2024
13
LOS LIRIOS ANTIMONY PROJECT EXCEPTIONAL, REAGENT-FREE RECOVERY CONFIRMED
evresources
Los Lirios ore delivers exceptional processing characteristics. Gravity and flotation testing demonstrate industry-leading antimony recoveries, underpinning low-CAPEX, fast-to-production economics.
- Preliminary metallurgical test work confirms excellent total antimony recoveries
- Sb recovery of 90.8% via simple two-stage gravity concentration. Excellent separation efficiency with low tailing grade of 0.37% Sb
- Commercial grade concentrate of 22%-36% Sb produced
- Results support simple, gravity-only low-cost (both CAPEX and OPEX) production pathway
- Utilising a reagent-free process that simplifies permitting, providing a fast path option to operation
- Separate high-grade sulphide sample returned 99.2% recovery via flotation, producing a ~50.7% Sb concentrate
GRAVITY-ONLY PROCESSING OUTPERFORMED
| Parameter | Route B
Gravity Only | Route A
Flotation + Gravity |
| --- | --- | --- |
| Total Sb Recovery | 90.8% | 85.3% |
| Concentrate Grade | 22% – 36% Sb | Various |
| Tailings Grade | 0.37% Sb | 1.2% Sb |
| Reagent Use | None | High |
evresources.com.au | ASX:EVR
Sources: ASX Announcement "Exceptional Antimony Recovery Confirmed at Los Lirios" dated 30 December 2025
LOS LIRIOS 1
DRILLING CONFIRMS LARGE-SCALE CRD SYSTEM — ASSAYS PENDING
evresources
Large-scale, shallow carbonate replacement (CRD) antimony system confirmed — one of the world's most significant deposit styles for antimony.
Key results from 11-hole Phase 1 program:
- 10 of 11 drill holes intersected a laterally extensive CRD style limestone unit at Lirios 1
- Consistent unit thickness of ~1–2.25m supports continuity and scale potential
- 400m+ strike defined — system open in multiple directions; step-out hole 200m SW confirms lateral continuity
- Shallow, sub-horizontal and gently folded system defined in 3D modelling, open in multiple directions
- Assay results pending. Clear pathway to potential Exploration Target and maiden JORC MRE, targeted Q3 CY2026
evresources.com.au | ASX: EVR
Sources: 1. ASX Announcement "EV Resources Defines Large-Scale, Shallow CRD Antimony System at Los Lirios" dated 14 April 2026
evresources
NEVADA ANTIMONY PROJECTS
DOLLAR ANTIMONY PROJECT
HIGH-GRADE, PROVEN PROSPECT FOR US DOMESTIC SUPPLY
evresources
DOLLAR ANTIMONY PROJECT
HIGH-GRADE POLYMETALLIC POTENTIAL
Historical assays ≥40.63% Sb¹; modern in-situ sampling confirmed ≥15.05% Sb, 17.8% Cu, >10,000ppm Ag and 3.88 g/t Au²
STRATEGIC LOCATION
8 claims, 160ac, in the Jett Mining District, ~100km from US Hawthorne Military storage facility.
KEY STRUCTURAL SETTING
Toiyabe Range east slope at highly prospective contacts of Tertiary volcanics and Paleozoic sediments.
EXISTING ACCESS IN PLACE
Development includes three adits (>400 ft total) and 30ft inclined shaft.
TARGETING WWII WORKINGS
Two trends followed by historical adits with quartz-Sb vein observed in roof, offers highly prospective initial target.
UPCOMING EXPLORATION
- Systematic soil geochemistry program COMPLETED (April 2026)
- Assay results expected late May/June 2026.
- Planned geophysical survey (CSAMT & others).
- Drill targets being defined for maiden Nevada drill campaign.
evresources.com.au | ASX: EVR
Source: 1. ASX Announcement "Ev Resources Acquires 100% of High-Grade Dollar Antimony Project in Nevada, USA" dated 10 Sept 2026
2. ASX Announcement "High-grade Antimony, Copper and Silver confirmed at Dollar" dated 27 Jan 2026.
DOLLAR ANTIMONY PROJECT HIGH-GRADE MULTIPLE SYSTEM CRITICAL METAL PROJECT
evresources
evresources.com.au | ASX: EVR
Sources: I ASX Announcement 'High-grade Antimony, Copper and Silver confirmed at Dollar' dated 27 Jan 2026.
18
MILTON ANTIMONY PROJECT
PROVEN, HIGH-GRADE PROSPECTS FOR US DOMESTIC SUPPLY
evresources
MILTON ANTIMONY PROJECT
HISTORICAL PRODUCTION
- 30 tons at avg 40% Sb. Historical assays up to 20.77% Sb from stockpiles and 12% Sb in workings¹.
- 30 tons at avg 40% Sb. Historical assays up to 20.77% Sb from stockpiles and 12% Sb in workings¹.
POTENTIAL ANTIMONY HUB
- ~80km from DoD Critical Minerals Storage and Army Depot on the Shoshone Range Western Flank.
- 60 km from DoD Critical Minerals Storage and Army Depot on the Shoshone Range Western Flank.
FAVOURABLE GEOLOGICAL SETTING
Structurally controlled stibnite oxide mineralisation within Triassic Limestone, assoc Ag/Au credits.
HIGH-GRADE MINERALISATION
Sampling of Historic workings returned up to 9.82% Sb, 24.0% Cu and 434ppm Ag²
EXISTING INFRASTRUCTURE
Road accessible, close to Nevada State Route 376, within mining-friendly jurisdiction.
HISTORICAL WWII PRODUCTION
Evidence of 3-4 historical mining phases (shafts, adits and open pits). Stibnite and copper oxides present point
2026 EXPLORATION UPDATE
Systematic soil geochemistry program COMPLETED (April 2026) Results expected late May/early June 2026 to inform drill targeting for maiden campaign.
evresources.com.au | ASX:EVR
Sources: 1. ASX Announcement "Acquisition of High-Grade Milton Antimony Project, Nevada" dated 26 Sept 2025 2. ASX Announcement "High-Grade Critical Metal Results Enhance US Pipeline" dated 28th Jan 2026
MILTON ANTIMONY PROJECT HIGH-GRADE CRITICAL METALS-STRONG SYNERGIES
evresources
evresources.com.au | ASX: EVR
Source: ASX Announcement 'High-Grade Critical Metal Results Enhance US Pipeline' dated 28th Jan 2026
20
WORK PROGRAMS AND NEWS FLOW CATALYSTS
NEAR-TERM CATALYSTS MULTIPLE VALUE ACCRETIVE CATALYSTS TO DRIVE VALUE CREATION
evresources
| PROJECT | CY26 | ||||||
|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | ||||
| Tecomatlán | |||||||
| Processing Plant | Grinding Circuit Refurbishment & Dry Commissioning | ||||||
| Pilot Plant Upgrade/Commissioning & First Sb Concentrate | |||||||
| Securing Feedstock Supply Agreements | |||||||
| Phase 2 Flotation Engineering & Permitting | |||||||
| Los Lirios | |||||||
| Antimony Project | Mapping, Trenching, Sampling & Geophysics | ||||||
| Phase 1 Drilling - System Confirmation & Definition | |||||||
| Resource Definition Drilling (Phase 2) | |||||||
| Maiden Resource Estimate & Scoping Study | |||||||
| Nevada | |||||||
| Antimony Projects | Mapping & Soil Sampling | ||||||
| Geophysical Surveys | |||||||
| Phase 1 Scout Core Drilling |
evresources.com.au | ASX: EVR • Key 2020 milestones: First antimony concentrate (H2 2020) and Maiden JORC Resource (Q3 CY2020)
evresources
CORPORATE OVERVIEW
CORPORATE SNAPSHOT
evresources
SHARES ON ISSUE
3.04B
OPTIONS & PERFORMANCE RIGHTS
1.30B
SHARE PRICE AT 30 APR 2026
0.9c
MARKET CAP AT 30 APR 2026
$27.36M
52 WEEK HIGH
1.6c
52 WEEK LOW
0.4c
CASH POSITION AT 31 MAR 2026
$1.87M
BOARD & MANAGEMENT
100+ YEARS COMBINED EXPERIENCE
SHANE MENERE
Non-Executive
Chairman
- 25+ yrs mining executive & entrepreneur; experience across ASX gold & exploration companies.
TIM YOUNG
Non-Executive
Director
- 25+ yrs global financial markets; Asia and Aus; capital markets & investor relations.
MIKE BROWN
Managing Director
& CEO
- 30+ yrs international mining & energy; MAIG geoscientist & Competent Person; +61 8 6489 0600.
LUKE MARTINO
Non-Executive
Director
- 25+ yrs Deloitte partner level; Director, Indian Ocean Corporate; financial/audit background.
JUSTIN WERNER
Non-Executive
Director
- MD of Nickel Industries (ASX:NIC, A$38 mkt cap); co-founder Alpha HPA; strategic mining executive.
STRATEGIC PARTNERSHIPS
Wogen / XCLR¹
Offtake + USD$3M Financing
MoU
Tribeca
4.11% holding
Institutional Equity
evresources.com.au | ASX: EVR
Source: ASX Announcement 'EV Resources Executes Strategic MOU with Wogen and XCLR' dated 20 August 2025
evresources
APPENDIX
ASSET PORTFOLIO
evresources
LOS LIRIOS
ANTIMONY PROJECT
COMMODITY FOCUS
Antimony
LOCATION
Mexico Oaxaca State, Zapotitlan Lagunas
EVR OWNERSHIP
70%
TECOMÁTLAN
PROCESSING PLANT
COMMODITY FOCUS
Antimony
LOCATION
Mexico Puebla State, 50km from Los Lirios
EVR LEASE WITH OPTION TO PURCHASE
100%
DOLLAR
ANTIMONY PROJECT
COMMODITY FOCUS
Antimony
LOCATION
USA
Nye County, Nevada
EVR OWNERSHIP
100%
MILTON
ANTIMONY PROJECT
COMMODITY FOCUS
Antimony
LOCATION
USA
Nye County, Nevada
EVR OWNERSHIP
100%
DON ENRIQUE
COPPER PROJECT
COMMODITY FOCUS
Cu-Au-Ag
LOCATION
Peru
Jauja, Central Peru
EVR OWNERSHIP
100%
ESTRELLA
COPPER PROJECT
COMMODITY FOCUS
Cu-Au-Ag
LOCATION
Peru
Jauja, Central Peru
EVR OWNERSHIP
100%
evresources.com.au | ASX: EVR
26
evresources
CONTACT
Mike Brown
Managing Director and CEO
Tel: +61 8 6489 0600
E: [email protected]