GRANGE RESOURCES LIMITED. — AGM Information 2014

May 6, 2014

==> picture [314 x 61] intentionally omitted <==

==> picture [720 x 143] intentionally omitted <==

Annual General Meeting Wayne Bould, Managing Director

7 May 2014

7 May 2014 – Annual General Meeting Slide 2

 Most EXPERIENCED magnetite producer

==> picture [297 x 224] intentionally omitted <==

• STRONG Safety Culture

• LONG LIFE producer of PREMIUM iron ore pellets

• STRONG balance sheet

• Advanced GROWTH Project

• Established STRONG DIVIDEND pay-out

7 May 2014 – Annual General Meeting

Slide 3

Ordinary Shares on issue	6 May 2014	1,157m
Share Price	6 May 2014	$0.245
Market Capitalisation	6 May 2014	$283m
Cash and Term Deposits	31 March 2014	$146m

==> picture [324 x 161] intentionally omitted <==

==> picture [299 x 180] intentionally omitted <==

7 May 2014 – Annual General Meeting

Slide 4

BACK TO THE BASICS

• Exceptional safety record continued

==> picture [290 x 149] intentionally omitted <==

• Successfully delivered mine re-development strategies

• Market conditions improved in H2 2013

• Focused on good old fashioned TQM disciplines

• Maintained our focus on the Southdown Project

• Focused on capital management

7 May 2014 – Annual General Meeting

Slide 5

• Revenues from mining operations of $281.1 million (down 15% from $331.3 million)

• Net profit after tax of $25.6 million (down 57% from a restated $59.1 million)

• Net cash inflows from operating activities of $115.8 million (down 35% from a restated $179.3 million)

• Cash and term deposits of $159.9 million as at 31 December 2013

• No net debt and reduced gearing levels with borrowings of $3.5 million (down 75% from a restated

• Final dividend of a 1.0 cent per share (unfranked) plus 1.0 cent per share special dividend

7 May 2014 – Annual General Meeting

Slide 6

 Our fundamentals are very sound

 We will continue our disciplined management:

7 May 2014 – Annual General Meeting

Slide 7

STAYING WITH THE BASICS

• Exceptional safety record continues

• Successfully completed an expanded annual common equipment shutdown

• Delivered improved quarterly production results

• Successfully negotiated crystallisation of pre-merger deferred consideration obligation

7 May 2014 – Annual General Meeting

Slide 8

• Maintained access to high grade ore through continued investment in mine development

• Final approval for the South Deposit Tailings Storage Facility

7 May 2014 – Annual General Meeting

Slide 9

Taking advantage of iron ore market prices

Driving C1 costs lower

7 May 2014 – Annual General Meeting

Slide 10

Australia’s Most Experienced Magnetite Producer

Focusing on the fundamentals

Reassessing the project concept

Quality assets in Tasmania and Western Australia.

7 May 2014 – Annual General Meeting

Slide 11

North Pit

South Deposit

Centre Pit South

Long Plains

Total resources exceeding 340m tonnes which support s operations to 2030 and beyond

7 May 2014 – Annual General Meeting

Slide 12

==> picture [344 x 179] intentionally omitted <==

Reducing risk associated with a single pit operation

==> picture [344 x 179] intentionally omitted <==

North Pit Production Stripping

North Pit Mine Development

==> picture [344 x 179] intentionally omitted <==

South Deposit Mine Development

7 May 2014 – Annual General Meeting

==> picture [49 x 12] intentionally omitted <==

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

Slide 13
----- End of picture text -----

==> picture [103 x 15] intentionally omitted <==

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

Concentrator
----- End of picture text -----

==> picture [215 x 144] intentionally omitted <==

• Autogenous milling and magnetic separation process

• Progressing the phased upgrade of the original autogenous mills and associated infrastructure

==> picture [65 x 18] intentionally omitted <==

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

Pipeline
----- End of picture text -----

==> picture [217 x 144] intentionally omitted <==

• 85km pipeline connecting Savage River to Port Latta

• Low cost mode of transportation using pipeline pumps and gravity fed technologies

Pellet Plant & Port

==> picture [107 x 144] intentionally omitted <==

==> picture [115 x 144] intentionally omitted <==

• Four furnace lines capable of producing 2.4mtpa of iron ore pellets

• Dedicated port facility providing access to Panamax vessels (80k tonnes)

Strategic Production Priorities

Strategic Production Priorities

• Continuous improvement in product quality (via TQM processes)

• Naturally occurring properties of the slurry protect the pipeline and reduce sustaining capital and maintenance costs

• Develop market driven bulk production output capabilities (concentrate & pellets offering)

• Re-commission fifth furnace (ore availability)

7 May 2014 – Annual General Meeting

Slide 14

 Continue the search for a new equity partner to take a strategic share of the Company’s

• Maintain reduced project expenditure during 2014

• Conduct internal review of definitive feasibility study operating model to determine if

7 May 2014 – Annual General Meeting

Slide 15

Broaden customer base to take advantage of market opportunities and to diversify geographic customer risk

• operating costs down further and maintain access to high grade ore

• Continue to invest in process infrastructure

• Redefine strategies and outcomes to leverage our investment in the Southdown project

• Maintain regular dividend

• Target growth opportunities to complement existing business

7 May 2014 – Annual General Meeting

Slide 16

Primary Contact:

Wayne Bould

7 May 2014 – Annual General Meeting

Slide 17