VYSARN LIMITED — AGM Information 2019

Nov 27, 2019

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Annual General Meeting November 2019

Disclaimer

This presentation has been prepared by Vysarn Limited ("Vysarn" or the "Company") ("Presentation") and contains general and background information about Vysarn activities current as at the date of the Presentation. The Presentation should not be considered to be comprehensive or to comprise all the information that an investor should consider when making an investment decision. The information in the Presentation should be read in conjunction with Vysarn's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, available at www.asx.com.au.

The Presentation contains statements, opinions, projections, forecasts and other material ("forward-looking statements") with respect to the financial condition, business operations and competitive landscape of the Company and certain plans for its future management. The words anticipate, believe, expect, project, forecast, estimate, likely, should, could, may, target, plan and other similar expressions are intended to identify forward-looking statements. Such forwardlooking statements are not guarantees of future performance and include known and unknown risks, uncertainties, assumptions and other important factors which are beyond the Company's control and may cause actual results to differ from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Any forwardlooking statements contained in this document are qualified by this cautionary statement. The past performance of the Company is not a guarantee of future performance. None of the Company, or its officers, employees, agents or any other person named in the Presentation makes any representation, assurance or guarantee as to the accuracy or likelihood of fulfilment of any forward-looking statements or any of the outcomes upon which they are based.

The Presentation is not financial product, investment advice or a recommendation to acquire Vysarn securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Each recipient of the Presentation should make their own enquiries and investigations

regarding all information in the Presentation including, but not limited to, the assumption, uncertainty and contingencies which may affect future operations of Vysarn and the impact that different future outcomes may have on Vysarn. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Vysarn is not licensed to provide financial product advice in respect of its securities or any other financial products. Cooling off rights do not apply to the acquisition of Vysarn securities. Each investor must make its own independent assessment of Vysarn before acquiring any securities in Vysarn.

The pro forma financial information contained in the Presentation is for illustrative purposes only and is not represented as being indicative of the Company's views on its future financial condition and/or performance. While the Company has undertaken an assessment of the fair value of the inventory assets acquired from Ausdrill Northwest Pty Ltd, it is currently working through the process of finalising the assessment of the fair value of those assets. The pro forma financial information has not been audited or reviewed. Accounting standards provide twelve months from completion for this assessment to be finalised.

To the maximum extent permitted by law, the Company and its directors and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in the Presentation. Further, none of the Company, or its officers, employees or agents accepts, to the extent permitted by law, any liability for any loss, claim, damages, costs or expenses arising from the use of the Presentation or its contents or otherwise arising out of, or in connection with it. Any recipient of the Presentation should independently satisfy themselves as to the accuracy of all information contained herein.

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2

VYSARN LIMITED ASX:VYS

ontents
Section	Pages
Disclaimer	2
Breaking News	4–5
Corporate Snapshot & Objectives	6
Board of Directors & Senior Management	7
Pentium Hydro Pty Ltd	8–10
The Problem in the Pilbara	11–12
Growth Strategy	13–15
Financials	16–17
The Top 20 Shareholders	18
Appendix A – Water as a Resource	19-21
VYSARN LIMITED ASX:VYS

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Contents

3

JAMES CLEMENT APPOINTED AS CEO AND MD

ASX:VYS 28 November 2019

The Board of Vysarn Limited (ASX:VYS) (Company ) is pleased to advise that it has appointed Mr James Clement as the Company’s Chief Executive Officer and Managing Director. Mr Clement is expected to commence in his role in February 2020, or as otherwise agreed in writing between the Company and Mr Clement.

Until recently Mr Clement was the CEO and Managing Director of sustainable agricultural company Mareterram Limited. Mareterram was formerly listed on ASX (ASX:MTM) and delisted in April 2019 following the completion of an agreed takeover bid for the company by Sea Harvest Group Limited. Vysarn Chairman Mr Peter Hutchinson said:

“I am very pleased that James has agreed to join us so soon following the Company’s acquisition of the assets of Ausdrill’s waterwell business, and relisting of the Company’s securities to ASX in early September 2019. To attract an applicant of James’ standing is

testament to the quality of the assets purchased by the Company and the business plan that we have developed and communicated to our stakeholders. I have known and worked with James over many years. He is hard-working, honest and motivated to succeed. His attention to detail and discipline will also serve as a great example to our executive and staff. I am looking forward to working with him again and witnessing the emerging culture of our company under his leadership”

James’ professional profile is attached in Schedule A and key terms of his employment are detailed in Schedule B. As detailed in Schedule B, it is proposed that Mr Clement will be granted options and performance rights as part of his remuneration package, to align his interests with that of shareholders and the performance and success of the Company. A Notice of Meeting seeking approval for the issue of the options and performance rights will be sent to shareholders over the coming weeks.

PENTIUM TO PROVIDE DRILLING SERVICES TO FORTESCUE METALS GROUP

28 November 2019

Vysarn Limited (ASX:VYS) (Company ) is pleased to advise that its wholly owned subsidiary Pentium Hydro Pty Ltd (Pentium) has entered into an Agreement for Hydrogeological Borefield Drilling & Construction Services (Contract) with Fortescue Metals Group’s wholly owned subsidiaries Chichester Metals Pty Ltd and FMG Solomon Pty Ltd (Principal) .

Key details of the contract are:

• Estimated revenue based on the initial Scope of Work of $13.3 million;

• A two-year fixed scope contract with a one-year extension option by the Principal;

• The Scope of Work as defined under the Contract is to provide the drilling and installation of production, injection and monitoring bores to support mining and exploration activities across multiple locations, within the Pilbara Region of Western Australia. As defined in

the Contract these sites are inclusive of Cloudbreak Mine Site, Christmas Creek Mine Site, Solomon Mine Site and Eliwana;

As previously advised, Pentium completed the mobilisation of the first Dual Rotary (DR) drill rig and associated auxiliary plant in October 2019 under the initial purchase order. Pentium anticipates the mobilisation of the second DR rig under the Contract during the month of January 2020.

Revenue from these works is based on contract key performance indicators for the number of Production and Monitoring Bores and is also subject to metres drilled and drill rates. The Company estimates that total revenue based on average rates and average metres drilled per month to be approximately $13.3 million over the initial two-year period

Corporate Snapshot & Objectives

The Company aims to provide shareholders with strong capital returns over the short, medium and long term and consistent income returns over the medium to longer term by ensuring fundamentally driven investment decisions are managed by competent and experienced executives and a motivated and aligned board.

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Arcos
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VYSARN LIMITED (ASX:VYS) [1]
Capital raising and Company securities
relisted on Prospectus Raise
ASX – September 2019 $7m
Public Offer Issue Price $0.054
Shares on Issue on Completion ~297.7m
Notes:
Market Capitalisation ~$16.07m
1. High level snapshot of the
Company at relisting. Refer to
Cash at Bank [2] ~$5.34m Prospectus for further details
2. Includes $1.6m GST Receivable
amount (refund received October
Debt [3] $8.0m 2019)
3. Assumes $800k to be repaid in
Enterprise Value ~$18.73m month 4 (due for repayment December 2019)
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6

Board of Directors & Senior Management

In a short period of time Vysarn and Pentium have attracted a high calibre board, executive and operational team

Business leader with over 30 years’ experience managing a diverse portfolio of industrial investments in manufacturing, engineering, construction and property, Peter at the most senior levels. Founding Director of Forge Group Ltd, floated in 2007 Hutchinson with a market cap of $12m and reaching over $450m at the time of his resignation Non-Executive as CEO and final sell down in July 2012. Also former Chair of Resource Equipment Chairman Ltd and founding shareholder and Chairman of Mareterram Ltd both subject to successful takeover bids at significant premiums to market prices

James is an experienced manager and company director with a demonstrated history of working in finance and industry. Skilled in business planning, cultural James Clement change, team building, leadership, management and mergers and acquisitions. He CEO & MD has a strong professional background having graduated from Latrobe University (MBA), Curtin University (BSc) and the AICD. Previously CEO and MD ASX:MTM, Institutional dealer Euroz Ltd, fund manager and investment adviser. Life member Collingwood Football Club

Accomplished business leader with over 15 years of senior leadership and consulting experience. Drilling experience gained during several years with Easternwell Minerals where he held operations and commercial management roles.

Chris Brophy Non-Executive Director

Kyla is a Director of Onyx Corporate which provides Vysarn with financial reporting, budgeting, cash flow and company secretarial services. Kyla worked for ASX:CWY and Bentleys in the Audit division. Kyla graduated from Curtin University of Technology (BCom and MAcc), is a Chartered Accountant, holds a Certificate of Public Practice and a is Fellow of the Governance Institute.

Kyla Garic CFO & Company Secretary

Sheldon Burt MD Pentium & ED Vysarn

Colin Mackenzie GM Operations

Toby Genillard Commercial Manager

Quentin

Hayes HSE Manager

Drilling industry professional with over 30 years national and international experience including field based, operations, senior management and directorship roles. Former General Manager of Easternwell Minerals, a leading drilling contractor with operations throughout Australia, specifically in the hydro drilling space. Sheldon is also a Director of Vysarn Limited.

Colin is a drilling industry professional with over 30-years’ experience and more than 15-years in senior operational and leadership roles. Colin’s recent roles include Operations Manager at Easternwell Minerals and Operations Manager at Ranger Drilling. Qualifications and memberships include Water Well Drillers Certificate Class 2, Member of Australian Drilling Industry Association, Cert 4 Trainer Assessor and Cert 4 Drilling Diploma Management

Toby has over 21 years’ experience in the water drilling industry in the UK and Australia, the last 10 of which were completed in senior operational and leadership management roles undertaking large water well drilling programs for a wide range of clients across the Pilbara and Goldfields regions of WA. Toby holds a Bachelor’s degree in Physical Geography (BSc.) and a Master’s degree in Water Resources Engineering, Technology and Management (MSc.)

Quentin is a successful Health, Safety and Environment (HSE) professional with over 12 years’ experience in HSE and Quality systems, Risk Management and Mitigation and has supported the Health, Safety, Environmental, Quality and Training functions on numerous Drilling Operations in Water Well and Exploration Drilling. Quentin holds a Graduate Certificate in Occupational Health and Safety (GCertOHS), Diploma Business and a Cert IV Trainer Assessor. He is a Member of the Australian Institute of Health and Safety (AIHS)

7

Pentium Hydro: The Foundation Asset

The Company aims to become a significant provider of production critical services and solutions to the resources, construction and utilities industries specifically in waterwell drilling, borefield construction and management.

• The foundation business, Pentium predominantly provides water well drilling, bore flow monitoring and water reinjection services.

• The assets also include the ancillary equipment required as part of the above rig suites including casing rotators, rod loaders, air compressors, rig carriers, Cat backhoes, drill rods, drill bits, drill stabilisers, crew carriers, light vehicles and associated inventory.

• Pentium Hydro Pty Ltd is a wholly owned subsidiary of Vysarn Limited

• Funded via intercompany loan from Vysarn following a successful public offer capital raising together with bank debt from Westpac Banking Corporation

• Additionally the company secured the rights to Business Management Systems (BMS) including maintenance and employment records (pertinent only to the waterwell drilling business) and comprehensive and up to date Safe Work Practices (SFP) thus allowing Pentium to immediately tender for works following completion of the Asset Acquisition Agreement in late August.

• The company acquired a fleet of 10 drilling rigs comprising 5 Foremost DR24HD Dual Rotary Rigs, 3 Schramm T130XD Rigs with dual rotary capability and 2 Schramm T685WS Conventional Rigs. https:/youtu.be/9bhFXs He1z l

• The purchase price of the plant & equipment was $12.3m. Independent expert Slattery determined the Orderly Liquidation Value (OLV) to be $17.3m and the Market Value to be $22.8m (see slide 15 & ASX announcement 12 November re: Gain on Bargain Purchase AASB3)

• In connection with the purchase of the business assets Pentium was successful in obtaining a deed of assignment for an existing drilling services contract with Hancock Prospecting at Mulga Downs in Western Australia.

• The company aspires to become an integrated operations, engineering and maintenance provider (OEM) for groundwater network services.

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8

Rig Utilisation: The first 4 months

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In 10 weeks Pentium has made tremendous progress and is expected to be earnings positive in November (before start up costs, interest and depreciation) and thereafter through to the end of financial year FY20 & beyond

• Since listing, management has already successfully obtained contracts for 5 rigs and believe there is continued demand for the remaining rigs. These contracts are to provide:

work. These agreements provide Pentium with the ability to provide a range of equipment and services at short notice as required by the operators.

• 2 rigs and auxiliary equipment on dry hire for Easternwell at BHP’s Olympic Dam mine;

• 1 rig suite to perform borefield and construction services to Roy Hill Iron Ore;

• 1 rig suite to perform borefield and construction services for FMG; and

• 1 rig suite to perform dual rotary drilling services for Anglo Gold Ashanti & Independence Group at their Tropicana JV.

• The company currently has Master Service Agreements (MSA’s) with Hancock Prospecting, Fortescue Metals Group and Roy Hill Iron Ore that outline the key terms for any future

• Pentium has provided pricing for 2 x additional rigs under client MSA’s – should these eventuate into purchase orders one rig will be mobilised from the AngloGold Ashanti site on completion of the works and the other from the fleet, most likely to Fortescue Metals Group as announced today (see Rig 6 below)

• Tenders for two other rigs starting 1QCY20 have been either submitted or due to be submitted (tomorrow) - notification pending prior to end of CY19

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RIG 1 & 2
DR24HD & Schramm
T685WS on dry hire
to Easternwell
Minerals to March
2020 or as
otherwise agreed
in writing
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RIG 4
DR24HD to
AngloGold Ashanti
Australia &
Independence
Group Tropicana
JV
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RIG 6
DR24HD to FMG
see ASX
announcement
dated 28 Nov 2019
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RIG 5

DR24HD to Roy Hill under General Works Contract – mobilisation and drilling prior to Xmas 2019

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RIG 7 & 8
2 X tenders
submitted
notification
pending
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RIG 9 &1 0

Rigs in the fleet – not yet rig ready. Workshop pre mobilisation works to be undertaken in new year

9

From Asset Acquisition To Operational Business

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An enormous amount of work has been undertaken by a handful of people to enable rig utilisation in such a short period of time. From a standing start a multi million $ revenue business evolves from a temporary yard and serviced offices.

Progress to date

▪ Relocation of plant and equipment including a large fleet of registered vehicles & inventory

▪ Office set up including IT platforms, cloud based servers & general office infrastructure

▪ Safety systems, safety reporting protocols & safe work practices implemented with continuing improvement to follow

▪ Recruitment of senior management team and drill operators - 19 Full time equivalents (FTE’s) including contractors

▪ Accounting and finance systems, payroll, accounts payable, ledgers, auditor liaison, BAS registration

▪ Pre audit gain on bargain purchase price calculations complete and announced

▪ Tax consolidation process underway

▪ Business systems including interim Risk Register, Board Charters, Governance and other document controls, forms & templates

▪ Marketing and advertising materials, decals, logos, websites

▪ Continuing discussions with large potential local, interstate and international cornerstone investors

▪ Preliminary strategic growth opportunities investigated and meetings held

• For new waterwell drilling asset acquisitions of in short supply Dual Rotary (DR) rigs

• Stage 1 M&A opportunities identified and currently being considered – see pages 13 & 14

• Initial discussions with Stage 2 MAR (managed aquifer reinjection) contractors – see pages 13 & 14

• Initial discussions with Stage 3 water flow monitoring technology service providers – see pages 13 & 14

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• Initial discussions with Stage 4 Industry experts and hydrologists – see Appendix A

10

The Problem in the Pilbara

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Nearly all Pilbara iron ore mines developed since 2000 have a significant portion of their ore body below the water table, some at greater than 65% of the ore reserve. Dewatering has become an operational imperative – this is achieved by pumping from cased bores drilled by contractors with specialised equipment. Pumping must be continuously maintained to keep the groundwater levels suppressed and the mine pit dry.

	Water Supply	Minor Dewatering	Dewatering to Surplus	Manager Acuifer
	1960 - 1970	1980’s	1990’s (MAR)	Recharge (MAR) +2000’s
				West Angeles (2002)
Key Sites	Goldsworthy (1965) Tom Price (1966) Mt Whaleback (1968) Paraburdoo (1972)	Channar (1990) Jimblebar (1989)	Yandi (1992) Mesa J (1994) Marandoo AWT (1994) Brockman (1992)	Area C (2003) Hope Downs (2007) Cloud Break (2008) Christmas Creek (2009) Nammuldi (2006)
				Marandoo BWT (2006)
Target Formations	High Grade haematite Brockman Formation	Brockman Formation Detritais	Channel Iron Deposits Marra Mamba formations	Marra Mamba formations
Hole Type	150-200mm cased to <150m	200-250mm cased to 150m	200-250 cased to >200m	200-250 cased to >200m
		Mud rotary/percussion	Mud rotary/percussion	Mud rotary/percussion
Drilling Method	Percussion (Schramm type drill rig)	High capacity, large diameter holes (Drilltech and large Schramm type	Introduction to Dual Rotary (Foremost DR and Schramm type	Introduction to Dual Rotary (Foremost DR and Schramm type drill rigs)
		drill rigs)	drill rigs)

Table: Pilbara Dewatering Market Assessment prepared by Ron Colman Technical Director Water Management RPS Group dated July 2019

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11

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Note: information in this slide has been sourced from the Western Australian Resources Sector Outlook Report 2018-2028 prepared by KPMG and the Chamber of Minerals and Energy of Western Australia available here: https://www.cmewa.com/policy-and-publications/annual-reports-submissionspublications/preview?path=2018-2028%2BResources%2BSector%2BOutlook%2BReport%2Bv1.0.pdf Investors should have regard to the disclaimers set out in that report in assessing the information in this slide

12

Growth Strategy

Pentium Hydro’s initial focus is on water management in the production phase of mining operations NOT drilling in the exploration phase however the company will consider horizontal & diversified growth opportunities should it provide significant increase in shareholder value.

Organic/ Horizontal Growth Stage 1

• Rig Utilisation: fleet of 10 Drill Rigs and associated equipment enables Vysarn to immediately tender for waterwell service contracts and/or enter into dry hire arrangements

• Initial focus on the resources, construction and utilities industries with desire to expand into other industries such as Agriculture and Oil and Gas

• Could diversify, but unlikely to expand into other types of drilling such as resource definition & drill and blast

Vertical Growth Stages 2-4

• Drilling activities provide exposure to ancillary services consistent with the Company’s aim to be a significant provider of production critical services and solutions

• Design, fabricate, install pump, pipe transfer storage & reinjection – Stage 2

• Engineer, flow control and monitoring – Stage 3

• Water as a resource Stage 4 – see Appendix A

M&A Opportunities

▪ Well connected Board and advisors to look for M&A growth with a focus on horizontal and vertical integration and diversified investment opportunities

13

Growth Strategy: Stage 2 & 3 Opportunities

Vertical integration – Acquiring complimentary service businesses will assist in transforming Vysarn into a holistic services provider and enable the business to offer a greater variety of services to its current customer base. This should result in larger and longer contracts of service. The transition from a drilling contractor to an integrated groundwater services OEM (operations, engineering & maintenance) contractor is shown graphically below.

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VERTICAL INTEGRATION STRATEGY – GROUNDWATER NETWORK SERVICES

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Dual Rotary specialisation including Design fabrication, Engineering, consulting & OEM
reinjection and flow testing installation & maintenance Stage 3
Stage 1 Stage 2
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14

Growth Strategy:

Diversification vs Specialisation

Pentium Hydro’s initial focus is on water management in the production phase of mining operations NOT drilling in the exploration phase however the company will consider horizontal & diversified growth opportunities should it provide significant increase in shareholder value.

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Acquisition 1 Acquisition 2
DR drilling & Pump, pipe, Design,
borefield fabricate, storage & engineering flow control
construction installation & monitoring
Stage 1 Stage 2 Stage 3
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DR drilling & Pump, pipe, Design,
borefield fabricate, storage & engineering flow control
construction installation & monitoring
Stage 1 Stage 2 Stage 3
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Vysarn Ltd will morph into Pentium Hydro Ltd should the strategic direction of the company continue organically and become a specialised whole of life service provider. This may come about via acquisition and/or business development

e.g get the right people and start your own contracting division or buy (Stage 2). Stage 3 is likely to involve M&A.

15

Financials: Early indicators

Pentium has had to ramp up overheads due to the strong demand for the company’s assets and services. Consequently it has been necessary to recruit senior management, fast track back office support and engage drilling personnel faster than originally expected.

▪ Overheads (excluding interest and depreciation) forecast to be approximately$360,000 per month on average for period November – June 2020

• Start up costs incurred during start up period include rig ready R&M, premobilisation costs, corporate start up costs, other office set up costs and general expenses

▪ Pentium is expected to be earnings positive (before start up costs, interest and depreciation) for month of November

▪ December and January traditionally operate less shift days than other months due to holiday shutdowns

  - 6 rigs are expected to be working in February 2020

  - The Company owns 10 rigs. It should not be assumed that all rigs can be operational at any one time due to an ongoing preventative maintenance programme.

  - Refer to slide 7 for further detail of current rig utilisation expectations

• Margins for dry hire and rigs that are providing full drilling services can differ significantly

• After only a few months of operations repairs & maintenance trends have not yet been established

• Pentium had 4 rigs working in November 2019

• 5 rigs are expected to be working in December 2019

• & January 2020

16

Financials: Balance Sheet

Consolidated Balance Sheet $'000 Unaudited Management Accounts	Pro forma After Offer1	Unaudited October 2019	Unaudited October 20193		Difference Explanation
Cash2	5,358	4,612	4,612		Start up costs and working capital
Debtors & Prepayments	-	928	928		Debtor invoices & prepayments
Inventory	3,015	3,700	3,700		As counted at completion
Total Current Assets	8,373	9,240	9,240
Plant and Equipment4	13,439	12,824	22,906		In accordance with AASB3
Total Assets	21,812	22,064	32,146
Deferred Tax Liability (DTL)	-	-	3,166		In accordance with AASB3
Trade Creditors	38	1,046	1,046
Borrowings	8,000	8,000	8,000
Net Assets	13,774	13,018	19,934
Net cash burn for the period Sept - Oct 20197		756
Number of shares on issue	297,658
Net assets per share	0.046 $	0.044 $	0.067 $
Net tangible assets per share (excluding DTL)			0.078 $		NTA per share excluding DTL
Other costs advised at the time of the Prospectus
Share issue for past services5	1,296	1,296	1,296		Refer Prospectus Section 1.2(b)
Cost of Options6	241	241	241		Refer Prospectus Section 1.2 (c)
Capital raising & transaction costs this period	1,020	1,020	1,020		Refer Prospectus Section 1.7
Total other costs	2,557	2,557	2,557
Net assets + transaction costs	16,331	15,575	22,491		$6,916 is Net Gain on Bargain Purchase
Non transaction expenses prior to listing date	(123)	(123)	(123)		Refer Prospectus Section 1.7
Sub Total	16,208	15,452	22,368
Net assets + transaction costs per share	0.054 $	0.052 $	0.075 $
Net assets + transaction costs (excl. DTL)			0.086 $
Net cash burn for the period Sept - October 2019
- Cash received re: sale of surplus plant	0	-447	-400
- Rig ready R&M (4 rigs to Oct 19)	825	250	250		Refer Prospectus Section 1.7
- Other net cash burn (Sept - Oct 19)	0	953	953
Total start upcosts7	825	756	803

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Notes:

1. Refer ASX announcement 9 September 2019

2. After principal repayment of $800k to Westpac and receipt of $1.6m GST refund

3. Refer ASX announcement 12 November 2019

4. An independent valuation of the acquired assets was performed by Slattery Auctions & Valuations. The market value of the Ausdrill assets was estimated to be c.$22.8m with an orderly liquidation value estimated at c.$17.7m. Both valuations are materially above the acquisition price paid by Vysarn resulting in a gain from bargain purchase of c.$7m in FY20 comprising of an increase in the value of plant and equipment acquired of c.$10m and the recording a deferred tax liability (DTL) of c.$3m.

5. Non cash expense for Director Past Services – refer Prospectus for details.

6. Non cash expense for Chairman options – refer Prospectus for details.

7. Net cash burn for start up period.

17

Top 20 Shareholders as at 23 November 2019

Position	Holder Name	Holding	% IC
1	MOLONGLO PTY LTD	37,108,585	12.47%
2	INVIA CUSTODIAN PTY LIMITED	14,592,325	4.90%
3	MR ANASTASIOS KARAFOTIAS	8,220,000	2.76%
4	AH SUPER PTY LTD	6,133,333	2.06%
5	BNP PARIBAS NOMINEES PTY LTD	6,000,000	2.02%
6	MR MARK JOHN BAHEN & MRS MARGARET PATRICIA BAHEN	6,000,000	2.02%
7	GARRISON HOLDINGS PTY LTD	5,627,778	1.89%
8	MR ANTHONY JOHN POWER & MRS SUSAN JANET POWER	5,000,000	1.68%
9	PRECISION OPPORTUNITIES FUND LTD	4,629,630	1.56%
10	BENITO TOSCANA PTY LTD	4,250,000	1.43%
11	KENDALI PTY LTD	4,000,000	1.34%
12	CONNADA PTY LTD	3,850,926	1.29%
13	ALLORA EQUITIES PTY LTD	3,703,704	1.24%
14	LONGREACH 52 PTY LTD	3,703,704	1.24%
15	ROMFAL SIFAT PTY LTD	3,455,000	1.16%
16	BNP PARIBAS NOMINEES PTY LTD HUB24 CUSTODIAL SERV LTD DRP	3,341,852	1.12%
17	INSIGHT ECOSYS PTY LTD	2,925,000	0.98%
18	RICHCAB PTY LTD	2,777,778	0.93%
19	KINGSLANE PTY LTD	2,777,778	0.93%
20	RICHCAB PTY LIMITED	2,699,777	0.91%
	Top 20 Holders of Ordinary Fully paid Shares (Total)	130,797,170	43.94%
	Total Remaining Holders Balance	166,861,076	56.06%
	Total issued capital - selected security class(es)	297,658,246	100.00%

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18

VYSARN LIMITED ASX:VYS

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Appendix A
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Stage 4 – Water as a resource

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DR Drilling & Pump, Pipe, Design,
Borefield Construction Fabricate, Storage Engineering Flow Water as a resource
& Installation Control & Monitoring
Stage 1 Stage 2 Stage 3 Stage 4
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19

VYSARN LIMITED ASX:VYS

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Potential to Store Pilbara Mine Water for Agriculture

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Aerial geophysical surveys of the Pilbara have been completed to identify areas that could be suitable for underground dewater storage for future irrigated agriculture developments. AERIAL geophysical surveys have been underway in the Pilbara region of Western Australia to identify sites that may be suitable to store water underground for future irrigated agriculture development. The surveys, undertaken in collaboration with the CSIRO and BHP, are a part of the WA Department of Primary Industries and Regional Development’s Transforming Agriculture in the Pilbara (TAP) project. TAP project manager Chris Schelfhout said the project was investigating whether surplus mine dewater could be collected and stored underground for reuse in irrigated agriculture enterprises. “The aerial geophysical surveys used a device that looked like a gigantic Hills Hoist clothes line suspended from a helicopter to collect information on moisture content, stratigraphy, porosity and salinity over an area of the east Pilbara,” he said. “This data from the surveys will help to identify areas that could be suitable for what is called managed aquifer recharge, which involves the injection or controlled infiltration of water underground for later use. “Previous investigations have found there could be up to 10 gigalitres of surplus mine dewater from operations in the East Pilbara that could be stored underground, with the prospect of more in the future.” Now the surveys have been completed, the data will be collated and interpreted to identify groundwater depth, quality and suitable areas for

managed aquifer recharge. The potential of using mine dewater for agriculture production is just one component of the $5.9 million TAP project to ground-proof soil and water resources in the region for potential horticulture, fodder and field crop production for a range of development sizes. Ten areas with significant land and water resources have been identified and some have become the focus of further soil and water field validation, including the lower De Grey River, Shaw River, Karratha Hinterland and Newman. The three-year project is also establishing test production bores to assess water supply, quality and sustainability, as well as soil surveys to identify suitable areas for agricultural production. The project team is also working in partnership with industry on prospective irrigation systems research activities to optimise productivity from suitable land and water resources.

Source: DPIRD

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Mining Industry Backs Groundwater Modelling Project

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Improved management of groundwater is behind a new multimillion-dollar initiative supported by BHP and Rio Tinto.

Led by the National Centre for Groundwater Research and Training (NCGRT) at Flinders University and in conjunction with the mining and groundwater industries, the project aims to promote, facilitate and support the improved use of numerical modelling in groundwater management, regulation and decisionmaking.

This is an important initiative for groundwater management in Australia and around the world, being one of the largest partnerships of its kind.

Research, software, education and training, worked examples and case studies will help to advance and support decision-making. The new initiative will work closely with end-users and stakeholders from industry, government, consulting and research organisations.

Professor Craig Simmons, NCGRT Director, will lead the new project.

“Understanding groundwater which is out of sight and out of mind is no easy feat,” Professor Simmons said.

“Australia is the driest inhabited continent in the world and groundwater is fundamental to our future.

“Groundwater is front and centre in so many issues, from water security to mining and energy, through to food and agriculture.

“Groundwater models are at the heart of environmental impact statements that underpin mining and coal seam gas development proposals and establishing water allocation plans.

“Groundwater systems are complex, and we often have limited data. Modelling predictions are therefore uncertain. Quantifying and reducing this uncertainty is crucial for improved groundwater modelling.”

Initial cash funding of $2.6 million for three years has been provided by industry partners BHP and Rio Tinto.

“BHP recognises the importance of responsible water stewardship for the long-term sustainability of our industry, especially with operations based in remote areas of Australia,” Blair Douglas, BHP’s Global Practice Lead – Hydrology, said.

“We have a responsibility to effectively manage and minimise our impacts on water resources.

“Effective groundwater modelling and working collaboratively on technical challenges plays an important role in decision-making for industry, communities and governments, and we are pleased to support the NCGRT’s work.”

Rio Tinto’s Shane Trott, Manager, Water Resource Evaluation, said, “Water has an inherent societal value and the challenges surrounding water management require robust science.

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https://utilitymagazine.com.au/global-miners-back-groundwater-modelling-project/

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KEY CONTACTS

Mr Peter Hutchinson Chairman Mr Sheldon Burt MD – Pentium Hydro Pty Ltd

Registered Office 108 Outram Street, West Perth WA 6005 Telephone: +61 8 9486 7244 ASX Code: VYS Website: www.vysarn.com.au

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