MINERAL COMMODITIES LTD — Interim / Quarterly Report 2020

Aug 23, 2020

ASX RELEASE

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24 August 2020
ASX: MRC
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JUNE 2020 HALF-YEAR RESULTS SUMMARY

Mineral Commodities (ASX: MRC) is pleased to announce its half-year results for the halfyear ended 30 June 2020, with the following highlights:

Mining Operations

• Proactive measures established to ensure the health and safety of employees and contractors result in no cases of COVID-19 across the groups' operations.

• Maiden Resource at Skaland of 1.78 Million tonnes at 22% Total Graphitic Carbon (“TGC”) for 397Kt of contained graphite.

• Maiden Resource on “placer deposit style” Northern Beaches adjoining existing Tormin Mine of 2.5 Million tonnes at 23.5% Total Heavy Minerals (“THM”).

• Approval of Section 102 Mining Right application to amend (expand) the footprint of mining at Tormin, allowing mining access to adjoining high-grade Northern Beaches and Inland Strand, adjacent to the existing Tormin mining area.

Development

• Robust Definitive Feasibility Study delivered at the Munglinup Graphite Project in Western Australia Final approvals expected in Q1 2021.

• Downstream study work progresses to PFS study stage on Anode Manufacturing strategy to become a vertically integrated producer of low carbon emission, environmentally friendly, natural Battery Anode Material.

Financial

• Total revenue of US$17.3 million

• EBITDA of US$9.4 million and NPAT of US$5.6 million

• Cash balance US$5.7 million

• Current Trade and Other Receivables increased to US$20.3 million

Executive Chairman Mark Caruso commented : “Although a challenging period, this past half year will be remembered as a significant time for the Company. We started by delivering a DFS at Munglinup, received a prospecting right over the Northern Beaches and Inland strandline and immediately started drilling on both areas. This soon resulted in a maiden JORC resource over the Northern Beaches, with our geology teams also delivering a maiden JORC resource at Skaland.

ABN 39 008 478 653 info@mncom.com.au www.mncom.com.au

T: +61 8 6253 1100 PO Box 235 WELSHPOOL DC WA 6986

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ASX: MRC ASX: MRC

24 August 2020

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To close out the period we received our critical Section 102 Mining Right approvals at Tormin which allows for our exciting phased expansion at Tormin”.

ENDS

Issued by Mineral Commodities Ltd ACN 008 478 653 www.mineralcommodities.com Authorised by the Executive Chairman and Company Secretary, Mineral Commodities Ltd

For further information, please contact:

INVESTORS & MEDIA Peter Fox Investor Relations/Corporate Development T: +61 8 6253 1100 investor@mncom.com.au

CORPORATE Peter Torre Company Secretary T: +61 8 6253 1100 peter@torrecorporate.com.au

About Mineral Commodities Ltd:

Mineral Commodities Ltd is a global mining and development company with a primary focus on the production of high-grade Mineral Sands and Natural Flake Graphite from operations in South Africa and Norway.

The company intends to construct an Anode Manufacturing Plant in Norway to become a vertically integrated producer of low carbon emission, environmentally friendly, natural Battery Anode Material to capitalise on the fast-growing demand for sustainably manufactured Lithium-Ion Batteries.

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ABN 39 008 478 653 info@mncom.com.au www.mncom.com.au

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