MINERAL COMMODITIES LTD — AGM Information 2013

May 28, 2013

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Annual General Meeting May 2013

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Disclaimer

• This document has been prepared by Mineral Commodities Ltd (MRC) and comprises written materials/slides for a presentation concerning MRC. This is not a prospectus, disclosure document or offering document.

• This document is for information purposes only and does not constitute or form part of any offer or invitation to acquire, sell or otherwise dispose of, or issue, or any solicitation of any offer to sell or otherwise dispose of, purchase or subscribe for, any securities, nor does it constitute investment advice, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

• Certain statements in this presentation are forward looking statements. You can identify these statements by the fact that they use words such as �����������������������������������������������������������������������������������������������������������������������������port. These forward looking statements speak only as at the date of this presentation. These statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown risks and uncertainties that could cause the actual results, performances and achievements to differ materially from any expected future results, performance or achievements expressed or implied by such forward looking statements.

• No representation, warranty or assurance (express or implied) is given or made by MRC that the forward looking statements contained in this presentation are accurate, complete, reliable or adequate or that they will be achieved or prove to be correct. Except for any statutory liability which cannot be excluded, each of MRC, its related companies and their respective officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the forward looking statements and exclude all liability whatsoever (including negligence) for any direct or indirect loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission therefrom.

• Subject to any continuing obligation under applicable law or any relevant listing rules of the ASX, MRC disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements in these materials to reflect any change in expectations in relation to any forward looking statements or any change in events, conditions or circumstances on which any statement is based. Nothing in these materials shall under any circumstances create an implication that there has been no change in the affairs of MRC since the date of this presentation.

• The information which relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Allen Maynard, �����������������������������������������������������������������������������������������������������������������������������g & Metallurgy ��AusIMM�����������������������������������������������Mr Maynard is the Director and principal geologist of Al Maynard & Associates Pty Ltd and has over 30 years of exploration and mining experience in a variety of mineral deposit styles. Mr Maynard 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 �����������������������������������������������������������������������������������������������������������������������������argets, Mineral 2 �����������������������������������������Mr Maynard consents to inclusion in the report of the matters based on this information in the form

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Main Achievements of 2012

Regulatory approvals for Tormin

• Major regulatory approvals received

• The last regulatory approval required for the Tormin development is the Zoning Application which is currently with Senior Officials for sign-­‐off

Tormin Capital Raising

• A successful capital raising was undertaken despite the difficult economic and commodity environment which raised UD$14.5 million

• The consequence is a new, broadened and supportive shareholder base underpinning ����� move from developer to producer

• The top five shareholders are as follows:

Au Mining	64,464,000 19.9%
Zurich Bay Holdings	61,569,988 19.01%
Tormin Holdings	35,653,107 11.01%
M&G Investments	28,647,000 8.84%
Matterhorn Investments	12,039,402 3.72%

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Source: Mirabaud Securities

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Main Achievements of 2012

Appointment of EPCM Contractor

• Perth-­‐based MSP Engineering

• The company has extensive experience in projects of this nature

• Successful involvement in design and feasibility studies for the project

Commencement of Construction and Development

• By the end of 2012, MSP Engineering had prepared scope specifications and most of the tender documents had been distributed

Appointment of new non-­‐executive directors

• Mr James Leahy and Mr Guy Walker were appointed as directors of the Company in December 2012

• James and Guy have already made a significant contribution to the executive management team

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Tormin Project Development

SCP Site Before Construction Commences

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Tormin Project Development

Earthworks Equipment Heading to Site

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Tormin Project Development

De-­‐Bushing and Levelling

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Tormin Project Development

Site Office Infrastructure set up

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Tormin Project Development

SCP Site

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Main Objectives of 2013

Off-­‐take Agreements

• Management have met with a range of potential offtake partners interested in both the non-­‐ magnetic concentrate + ilmenite

• Proposals were received for all products, many of which included pre-­‐funding offers

• The company is at advanced stage of legal agreements with preferred partners and we expect to be able to make an announcement shortly

Funding

• As indicated in previous announcements further funding initiatives, including offtake finance, debt and equity, to ensure the working capital required to bring the project into production are being advanced and the company believes all the necessary funding will be secured

Recruitment

• Operational organogram finalized

• First recruit � SHEQ Manager � commences on 1 June 2013. Balance will start to arrive for induction and training from August 2013

• 3 members of the Xolobeni community will also start on site on 1 June to learn all aspects of project development + construction

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Main Objectives of 2013

Construction and Development for Tormin

		Jan	Feb	March	April	May	June	July	Aug	Sep	Oct	Nov	Dec
Engineering + Procurement
Construction
�����
SCP
Commissioning + Scale Up
�����
SCP

• �������������������������������������������������������������������������

• Development schedule remains on track and on budget. To date all contracts have been awarded at or below budget

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Main Objectives of 2013

Life of Mine (LOM) Extensions

• An offshore prospecting right was awarded for Tormin in 2012 and registered in 2013

• A case study on Tormin was undertaken in 1995 by the Stellenbosch University Geology Department

• The study �����Geelwal Karoo heavy mineral deposit: a modern ������������������ indicated that:

• The locally high, total heavy mineral content and the favourable ore to gangue mineral ratio, coupled with the possibility of replenishment style mining, makes this an attractive resource

• A prominent headland, forming a J-­‐bay just south of the source, prevents large scale dispersion of these sediments by the northward flowing littoral current. The result is an offshore trail of heavy mineral-­‐enriched sand, which is then transported to the beach by wave action. There it is repeatedly sorted and further upgraded to be re-­‐deposited on the beach face during mild weather conditions

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Main Objectives of 2013

Life of Mine (LOM) Extensions (ctd)

• More from the �����Geelwal �������������������������������������������������������� study:

• The implementation of replenishment mining of this active beach appears to be a realistic possibility. It is, after all, regularly practised by off-­‐shore diamond mining in several favourable localities. This alternative could considerably increase the reserves and sustain mining for an extended period

• The offshore prospecting right extends 1km into the sea and creates the opportunity for replenishment to extend the LOM for many years e.g. THG have been mining the tenement for > 30 years

• Proposals to scientifically assess the potential extent of the reserve and, therefore, the LOM extension have been received from members of the initial Stellenbosch research team

• Work will commence shortly with a view to releasing the results to the market towards the end of Q3

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Main Objectives of 2013

Project Economics Enhancements

• Based on the TransHex studies and subsequent bulk sampling undertaken by MRC, the company has established an exploration target resource of 5,000,000 tonnes grading initially as follows:

% HM	% Ilm	% Rutile	% Zircon	% Garnet
41.3	13.6	0.7	3.4	18.3

• These assumption have underpinned favourable project economics with a previously reported IRR of >97% including the sale of garnet and ilmenite products

• Softening of commodity prices have been more than offset by a devaluation of more than 20% of the ZAR (in which most operating costs are based) against the AUD

• Processing the magnetics to produce garnet and ilmenite products has the potential to recover up to 4,000 tpa of additional non-­‐magnetic concentrate, or between A$4m to A$5m in pre-­‐tax profit to Tormin

• More significantly, deeper analysis of the other minerals in the Tormin suite has indicated the presence of a rare earth in potentially economic quantities

• Initial tests have shown that Xenotime is being concentrated in the non-­‐magnetic concentrate of more than 1% which would imply potential production of 500 tpa

• The market price of Xenotime is currently $10,000 to $12,000 which therefore means that this product has the potential to add $5m to $6m in pre-­‐tax profit per annum to the project

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Xolobeni Project

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Public Participation for Kwanyana PRA

• 4 Public meetings were undertaken in March and April 2013 with the local community

• Meetings were also held with the following parties:

• Eastern Cape Provincial Ministers

• The House of Traditional Leaders

• The Regional ANC

• The Mbizana Municipal Council

• Letters of support for project have been received by the King of the AmaPondo as well as the local head Chief

• The Company also hosted the King and his advisers on a visit to the Tormin site as well as other dry mineral sands mining operations enhancing the Xolobeni �������������������� understanding of the processes and their impacts

• Both local and central government have committed themselves to actively support the project based on its potential to substantially uplift the local community

• Management are due to meet the Eastern Cape cabinet in June to establish a joint plan to expedite the project

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Xolobeni Project

Next steps in the PRA process for Kwanyana

• The stakeholder engagement report linked to the recent meetings is being finalised

• RMDEC will make a recommendation to the Minister based on this report

• ����������������������������������������������������

• Preparations are underway to commence baseline environmental studies as soon as approval has been obtained

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