Reserves and Resources

Notes:

(1) The Copi Project Mineral Resource has been classified and reported in accordance with the guidelines of the JORC Code (2012).

(2) Reported above a total HM cut-off grade of 0.3%, within an optimised pit (revenue factor 2) and below a top of ore surface for RPEEE reporting.

(3) The total HM is reported as a percentage of the total material. The majority (95%) of data has reported total HM from within the +53 μm to -1 mm size fraction, slimes from the -53 μm fraction and oversize as the +1 mm fraction.

(4) Estimates of the mineral assemblage (zircon, ilmenite, rutile and HiTi85, leucoxene, monazite and xenotime) are from within the total HM component of the deposit, as determined from QEMSCAN, magnetic fractionation and XRF analysis. The rules used for the majority (over 99%) of the titanium mineral determinations are ilmenite 40–70% TiO2; leucoxene 70–85% TiO2; rutile and HiTi85 >85% TiO2.

(5) All tonnages and grades have been rounded to reflect the relative uncertainty of the estimate, thus sum of columns may not equal.