GREENWING RESOURCES LTD — Investor Presentation 2015

Sep 21, 2015

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Strategic investment in Graphmada

September 2015

Investment Overview

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Agreement to acquire 25% initial stake in producing graphite mine (subject to finance)

• Option to increase to 35% (subject to finance)

• Over A$16m invested by Stratmin to date

• A$4.4m investment at 20% discount to cash

• Potential for high grade, low cost Madagascan graphite

In production with offtake

• Large US based buyer providing offtake

Proposed expansion program

• 2 new mines

• Evaluating downstream processing

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Deal background

Bass has deep expertise in renewable and storage technology

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• Chairman senior executive at Orocobre

• Directors on Board of Stratmin

• Partnering to build large lowest cost graphite producer

Graphmada advantage

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• First to market

• Flake graphite in soft clay host

• New management with graphite experience

• Proven business now ready to expand

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Graphite demand by end use

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• Demand growth for high grade / large flake graphite is eclipsing supply

• “Tesla effect” and growing renewables sector

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Deal structure

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75%
£2m
25%
(A$4.4m)

Graphmada 25% farm-in to Graphmada Mauritius
Mauritius  Option to extend to 35%

100% Rights to pro-rata future funding

Rights to pro-rata new project
Graphmada S.A.R.L participation
(Madagascar)
100%  Application of Funds

Expanded working capital at Loharano
Project 1 Project 3
Loharano India  Proposed DFS at Mahefedok
Project 2 Project 4  JV at Vatomaina
JV
Mahefedok
Vatomaina  Expandable graphite scoping study
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• Expanded working capital at Loharano

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Stratmin Overview

Market Data
Market	AIM (STGR)
Share Price	4.5p per Share
Total Issued Shares	151m
Free Float	65%
Market Capitalisation	£6.5m (A$14.25m)
Investment to date	>£7.5m (A$16.2m)

 London’s only listed graphite company

• Offtake with recognised specialist US trader

• Disciplined expansion strategy

• Building new capacity on proven resource base

• Partnership model to bring in expertise

• Modular expansion to minimise risk

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	Board of Directors
	Non-Executive Chairman	J Laurie Hunter
	Chief Executive Officer	Brett Boynton, CFA
	Executive Director	Shishir K Poddar
	Non-Executive Director	Jeffrey Marvin
	Non-Executive Director	David Premraj

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Gra hmada Overview p

Madagascan graphite

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• Mine and exploration portfolio

• In production

• Offtake in place

• 100% Subsidiary of Stratmin

• Close to infrastructure

• On sealed highway

• 120km to port

• Abundant water on site

• Attractive jurisdiction

• Australian based mining code

• 20% corporate tax - No royalties

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Gra hmada O erations p p

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Metrics Table

Near term projected production profile

Total cost

Mine life Strip ratio

FY15 – 1,000 tons FY16 – Projected to increase to 6,000+ tons Aiming to lower mine costs over life of mine Aiming to achieve a long life operation Aim to achieve lower levels over time

.

Source: SGS Metallurgy Report

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Loharano aims to produce 6,000 tpa over next 12 months and ex and ra idl p p y

Targeting a low cost soft rock (clay) free dig mining

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• Majority large and jumbo flake

• Offtake with major US buyer

• Growing independent markets via internal sales force

• Loharano is the platform asset…

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Mahefedok: immediate ex ansion p

Graphmada is targeting high production levels

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Project attributes

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• Adjacent to existing Loharano mine and plant

• Scoping completed, BFS underway

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• Possible large mineralised ore body mapped at surface

• Extensively trenched and sampled

• JORC definition drill out proposed

• Preliminary engineering completed

Projecting low CAPEX costs

• 18 month lead to commissioning

• Targeting low FOB unit cost

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Vatomaina (JV Tirupati)

Graphmada is targeting high production levels 20km from Loharano (on highway to Tamatave port)

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• Draft Scoping completed

• Trenched, augured and sampled

• Preparing for JORC definition drill out

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• Preliminary engineering completed

• Results to be published in short term

Carbon copy of Mahefedok

• Significant parallel development synergies

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Gra hite Com anies p p

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Company Name	Company Name	Stage	Market Cap ($m)	Project	Country
Energizer Resources		PEA	18	Green Giant	Madagascar
Flinders Resources		Production suspended	15.5	Woxna	Sweden
Focus Graphite		PFS	23	Lac Knife	Canada
Mason Graphite		PFS	38	Lac Gueret	Canada
Northern Graphite		PFS/BFS	20	Bissett Creek	Canada
Sayona		PEA	11.5	Itabela	Brazil
Syrah Resources		BFS	615	Balama	Mozambique
Talga Resources		PEA in progress	45	Vittangi Raitajärvi	Sweden
Triton		PEA	100	Nicanda, Balama	Mozambique
Valence		Limited production	40	Uley	Australia
Graphmada (STG)		Production	TBC	Loharano,	Madagascar
	- Bass Metals 25-35%			Mahefedok,
				Vatomaina

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