PHOSCO LTD — Regulatory Filings 2020

Feb 13, 2020

ASX Announcement 14 February 2020

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Celamin Holdings Ltd

ASX Code: CNL / CNLO

ACN 139 255 771 ABN 82 139 255 771

Board and Management:

Robin Widdup Chairman Simon Eley Managing Director Taz Aldaoud Non-Exec Director Tim Markwell Alternate Director to Robin Widdup

Company Secretary

Melanie Leydin

Securities on Issue

152,489,823 ordinary shares 68,777,348 listed options 8,656,616 unlisted options 135,027 unlisted options 2,000,000 unlisted options 12,000,000 unlisted options 500,000 unlisted options

Contact

Phone: +61 (0)3 9692 7222 Fax: +61 (0)3 9077 9233 info@celamin.com

Registered Office Address

Level 4, 100 Albert Road South Melbourne VIC 3205

Website

www.celaminholdingsltd.com

CELAMIN COMMENCES APPLICATION TO RECOVER INTEREST IN CHAKETMA

Summary:

• Bailiff acting for Celamin serves transfer documents on TMS to return Celamin’s interest in Chaketma

• Seizure actions continue on TMS assets to recover court awarded damages and costs

• $6.6m accrued damages escalate by $650/day

Celamin Holdings Limited ( Celamin ) is pleased to announce that the Court process to return Celamin’s interest in the Chaketma Phosphate Project ( Chaketma ) has moved into the final phase:

• The bailiff has served transfer documents on Taoufik Mansouri, the principal of TMS, to effect the return of Celamin’s interest in Chaketma.

• This process is expected to take 1 to 3 months.

As reported in the December 2019 quarterly, this process does not preclude or interfere with Celamin’s actions to seize assets held by TMS based on the failure of TMS to pay any of the damages or costs awarded to Celamin. Accordingly, these actions will continue until either the parties can resolve the dispute amicably or TMS pays the damages and costs, with interest, in full.

The damages and costs owing to Celamin increase every day TMS fails to pay. The amount currently owing is almost A$6.6M.

As previously announced, Celamin will continue to enforce its rights to secure the return of its interest in Chaketma as well as payment of damages and will update the market as required.

Mr Simon Eley, managing director of Celamin, stated, “Celamin plans to begin feasibility work on Chaketma shortly after regaining control. This process is expected to include gap analysis, PFS and then full feasibility.”

This announcement is authorised for release to the market by the Board of Directors of Celamin Holdings Limited.

For further information, please contact:

Simon Eley

Managing Director T: +61 (03) 9692 7222 E: info@celamin.com