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Minemakers investor presentation (ASX:MAK)
1. ASX: MAK | TSX: MAK
Corporate
 Presenta,on
Â
July
 2015
Â
Â
Â
Mr
 CliïŹ
 Lawrenson
 -Ââ
Â
 CEO
 &
 Managing
 Director
Â
Â
2. 2
Important Information
Disclaimer
This presentation is neither a prospectus nor an offer of securities for subscription or sale in any jurisdiction. This presentation is not a securities
recommendation and does not constitute financial product or investment advice. The information contained in this presentation has been prepared in
good faith by Minemakers Limited. However, no representation or warranty, express or implied, is made as to the accuracy, correctness, completeness
or adequacy of any statements, estimates, opinions, projections or other information contained in this presentation. To the maximum extent permitted by
law, Minemakers Limited, its directors, officers, employees, advisers and agents disclaim all or any liability for any loss or damage which may be
suffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. This presentation contains only a
synopsis of more detailed information published in relation to the matters described in this presentation and accordingly no reliance may be placed for
any purpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of losing
all of the property invested by you or incurring by you of additional liability. Recipients of this presentation should conduct their own investigation,
evaluation and analysis of the business, data and property described in this presentation and consult with their own legal, tax, business and/or financial
advisers in connection with any acquisition of securities. In particular any estimates or projections or opinions contained herein necessarily involve
significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters. Minemakers Limited
does not accept any responsibility to inform you of any matter arising or coming to the company's notice after the date of this presentation which may
affect any matter referred to in this presentation. The distribution of this presentation may be restricted by law in certain jurisdictions. Recipients and any
other persons who come into possession of this presentation must inform themselves about, and observe any such restrictions.
Competent Personâs and Qualified Personâs Statement
The information in this document is based on, and fairly represents, information and supporting documentation prepared by Russell Fulton, who is the
Geological Manager of the Company and a Member of the Australian Institute of Geoscientists. Mr Fulton has sufficient experience deemed relevant to
the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2012 Edition of the âAustralasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reservesâ and a âQualified
Personâ as defined in National Instrument 43-101 â Standards of Disclosure for Mineral Projects. Mr Fulton consents to the inclusion in this document of
the matters based on his information in the form and context in which it appears.
The Mineral Resource estimates were first set out in Minemakersâ market announcement dated 11 May 2015. Minemakers is not aware of any new
information or data that materially affects the information included in these market announcements and, in the case of estimates of Mineral Resources
that all material assumptions and technical parameters underpinning the estimates in these market announcements continue to apply and have not
materially changed.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this document relative to markets for Minemakersâ trends in resources, recoveries,
production and anticipated expense levels, as well as other statements about anticipated future events or results constitute forward-looking information.
Forward-looking statements are often, but not always, identified by the use of words such as âseekâ, âanticipateâ, âbelieveâ, âplanâ, âestimateâ, âexpectâ
and âintendâ and statements that an event or result âmayâ, âwillâ, âshouldâ, âcouldâ or âmightâ occur or be achieved and other similar expressions.
Forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations
to differ materially from those contained in the forward-looking statements. Such factors include, among other things, risks relating to property interests,
the global economic climate, commodity prices and environmental risks. Forward-looking statements are based on estimates and opinions of
management at the date the statements are made. Minemakers does not undertake any obligation to update forward-looking statements even if
circumstances or managementâs estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
3. 3
Corporate Strategy
To become a major contributor to the world nutrient market via
the development of world class rock phosphate projects
4. 4
Investment Thesis
Baobab Project - Acquisition subject to shareholder approval
ĂŒïŒâŻPotential near-term rock phosphate production and cash flow
§ï§âŻ Low capex; low opex; simple mining techniques; existing infrastructure
§ï§âŻ Significant exploration potential to expand resource
ĂŒïŒâŻStrong strategic fit to Minemakersâ portfolio of high quality phosphate projects;
remaining committed to the nutrient sector
ĂŒïŒâŻAbility to leverage significant existing Senegalese expertise and track record
ĂŒïŒâŻSenegal IHP license grows the future IHP offering to Atlantic basin and Pacific basin
Wonarah Project
ĂŒïŒâŻLong term opportunity to commercialise world-class Wonarah project through IHP
technology
5. 5
Forecasts
§ï§âŻ Global fertiliser market expected to be worth US$172 billion during 2015
§ï§âŻ Long term price forecasts of US$130/tonne
§ï§âŻ Relative price stability versus other commodities
Why Phosphate?
50
Â
75
Â
100
Â
125
Â
INDEX
Â
 Rock
 Phosphate
Â
 Thermal
 Coal
Â
 Natural
 Gas
Â
 Crude
 Oil
Â
 Iron
 Ore
Â
§ï§âŻ Phosphate is a finite natural resource essential in the
manufacture of fertilisers for crops and animal growth
§ï§âŻ Global food production forecast to double by 2050 due to
population growth and increased per capita consumption
§ï§âŻ Increased farming intensity required due to limited arable land =
increased demand for phosphate based fertilisers
Rela,ve
 Commodity
 Price
 Performance
 -Ââ
 2014
Â
0
Â
50
Â
100
Â
150
Â
200
Â
250
Â
300
Â
350
Â
400
Â
450
Â
500
Â
Mar-Ââ05
Â
Jun-Ââ05
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Sep-Ââ05
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Dec-Ââ05
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Mar-Ââ06
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Jun-Ââ06
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Sep-Ââ06
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Dec-Ââ06
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Sep-Ââ07
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Jun-Ââ08
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Sep-Ââ08
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Dec-Ââ08
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Jun-Ââ09
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Sep-Ââ09
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Dec-Ââ09
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Sep-Ââ10
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Dec-Ââ10
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Mar-Ââ11
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Mar-Ââ12
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Sep-Ââ13
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Dec-Ââ13
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Mar-Ââ14
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Jun-Ââ14
Â
Sep-Ââ14
Â
Dec-Ââ14
Â
Mar-Ââ15
Â
Rock
 Phosphate
 Price
 (USD/tonne)
 â
 Moroccan
Â
Rock
 Benchmark
Â
Long
 term
 forecasts
Â
 $130-Ââ$140/tonne
Â
Five
 year
 average
Â
Â
USD
 $150/tonne
Â
23%
Â
16%
 61%
Â
Typical makeup of manufactured
fertiliser
Phosphate
Â
Nitrogen
Â
Potash
Â
6. 6
Food & Nutrition Security
Fertilisers provide essential nutrients to soils, livestock & people resulting in more food, better nutrition and
healthier lives.
WORLD
 POPULATION
 GROWTH
 ARABLE
 LAND
 DECLINE
 PER
 CAPITA
Â
IMPORTANCE
 OF
 NUTRITION
 SECURITY
 DEMAND
 ON
 FARMERS
Â
INCREASED
 PER
 CAPITA
 CONSUMPTION
Â
⊠achieving this while mitigating the
effects of climate change.
SOURCE
 OF
 FUTURE
 SUPPLY
Â
Over the next 50 years, farmers will have to
produce as much food as produced in the last
10,000 yearsâŠ
Source:
 1
 Department
 of
 Economic
 and
 Social
 AïŹairs,
 UN
 2
 World
 Bank
 3
 FAO
Â
 4
 Roots
 for
 Growth,
 IFA
Â
Â
 5
 FAO
 6
 Global
 Alliance
 for
 Improved
 NutriXon
Â
Much of this increase in output will need to
come from existing farmland.
⊠undernutrition accounts for 11% of the
global burden of disease and is considered
the No.1 health risk worldwide.
2 billion people currently lack the daily nutrients
they requireâŠ
77%
Â
Increased
Â
Â
Yields
Â
9%
 Expansion
Â
of
 Cul,vated
Â
Land
Â
Â
14%
Â
Increased
Â
Â
Cropping
Â
Intensity
Â
10,000
 Years
 50
 Years
Â
Loss
 of
 0.17
Â
hectares
 per
Â
person
 over
 last
Â
50
 years
Â
1960
Â
2.7
 people
 per
 ha
Â
Developing
 Countries
Â
YEAR
Â
1970
Â
YEAR
Â
2000
Â
YEAR
Â
2050
Â
Â
Â
Â
Â
Â
Â
2,056
Â
Calories
Per
Person
Per Day
2,572
Â
Calories
Per
Person
Per Day
3,000
Â
Calories
Per
Person
Per Day
2010
Â
5
 people
 per
 ha
Â
1950
Â
2.5
 Billion
Â
Â
People
Â
1950
Â
2.5
 Bn
Â
Â
People
Â
2050
Â
9.5
 Billion
Â
Â
People
Â
5.1
 Bn
Â
2.4
 Bn
Â
2.0
 Bn
Â
1.4
 Bn
Â
0.2
 Bn
Â
0.9
 Bn
Â
ASIA:
 CAGR
 1.3%
Â
AFRICA:
 CAGR
 2.5%
Â
REST:
 CAGR
 0.9%
Â
7. 7
Baobab Project Highlights
Strategic Location
§ï§âŻ 145km East of the Port of Dakar
§ï§âŻ Existing road network, 20km from a
sealed national highway with upgrade
due for completion in 2018
§ï§âŻ Port capacity available at Dakar
§ï§âŻ Single exploration permit area of 1,553km 2
§ï§âŻ Sedimentary rock phosphate mineralisation
§ï§âŻ Circa A$7 million spent on project to date by vendor,
including approximately 14,500m of drilling (359 air-
core and 36 diamond holes) in the Gadde Bissik area
(90km2)
§ï§âŻ Expected to be open pit, free dig unconsolidated sand
§ï§âŻ Simple and low-cost wet screening process to
significantly upgrade product â confirmed by ongoing
metallurgical test work
§ï§âŻ Maiden Inferred Resource announced. Small Mine
Permit (SMP) granted, allowing for 500ktpa production
from the Gadde Bissik prospect
§ï§âŻ Targeting first production mid-2016
Port of
Dakar
Baobab
Project
Area
SMP Area
8. 8
Maiden Inferred Resource
§ï§âŻ Maiden Inferred Mineral Resource of 68 million tonnes @
22% P2O5 at an 18% P2O5 cut-off for the Gadde Bissik
prospect, part of the wider Baobab Project
§ï§âŻ Inferred Resource of 25 million tonnes @ 23% P2O5 estimated
within the Small Mine Permit application area of 5Km2 at
Gadde Bissik East
§ï§âŻ Initial metallurgical test work demonstrates significant upgrade
potential using simple wet screening techniques
§ï§âŻ Phosphate mineralisation is 2-12 metres thick; 11-51 metres
from surface
§ï§âŻ Refer ASX Release 11 May 2015 for full disclosure
PROSPECT CATEGORY
TONNES
Â
(million)
P2O5
 (%) CaO
 (%) MgO
 (%) Al2O3
 (%) Fe2O3
 (%) SiO2
 (%)
Gadde
 Bissik
Â
East
Within
 SMP
 area Inferred 25 23 31 0.10 2.0 3.1 38
Outside
 SMP
Â
area
Inferred 40 21 29 0.14 2.4 3.9 39
Combined Inferred 65 22 30 0.12 2.2 3.6 38
Gadde
 Bissik
 West Inferred 3 21 29 0.13 4.3 4.7 35
Total
 Gadde
 Bissik Inferred 68 22 30.0 0.12 2.3 3.6 38
Gadde
 Bissik
 Regional
ExploraXon
Â
Target
45-Ââ60 19-Ââ22
Â
Â
Â
Â
Â
9. 9
The Republic of Senegal
Overview
Â
§ï§âŻ One of Africaâs most stable and successful democracies (IMF
2010) with a stable and investor friendly social and political
environment
§ï§âŻ Population of circa 13.5 million (2013 estimate)
§ï§âŻ Substantial progress in combating poverty, improving social
infrastructure and advancing its economic emergence (IMF)
§ï§âŻ GDP of US$14.7 billion (World Bank 2013)
Mining
Â
 friendly
 loca,on
Â
§ï§âŻ Established mining industry with phosphates as primary
exports
§ï§âŻ Mining code implemented in 2003, administered by Ministry of
Mines
§ï§âŻ State involvement restricted to approvals and royalties
§ï§âŻ Good connected infrastructure and qualified workforce
§ï§âŻ Several ASX or TSX companies have success in Senegal
§ï§âŻ Effective Senegalese Chamber of Mines
10. 10
Baobab Project Acquisition Highlights
ĂŒïŒâŻ Provides potential for near term production and cash flow
ĂŒïŒâŻ All-scrip consideration conserves Minemakersâ balance sheet and
provides optimal strategic alignment with major shareholders
ĂŒïŒâŻ Combines Minemakersâ strong management team with highly
experienced in-country team
ĂŒïŒâŻ Involvement of fertilizer and phosphate experts at Agrifos provides
additional technical and marketing knowledge base
ĂŒïŒâŻ Diversifies asset portfolio - significant assets in Republic of Senegal
and Australia
ĂŒïŒâŻ Potential opportunities to leverage IHP technology via Senegalese IHP
license
Acquisition is subject to shareholder approval at a meeting to be held
on 21st August 2015.
Minemakers
 has
 agreed
 to
 acquire
 the
 Baobab
 Rock
 Phosphate
 Project
Â
 located
 in
 the
 Republic
Â
of
 Senegal
 from
 Agrifos
 Partners
 LLC.
Â
11. 11
Baobab Project Acquisition Terms
§ï§âŻ 100% scrip based consideration
§ï§âŻ 100 million shares
§ï§âŻ 80 million unlisted options (ex A$0.25 and 4-year term)
§ï§âŻ 80 million contingent share rights, vesting upon achieving
significant development of the project
§ï§âŻ Subject to shareholder approval at General Meeting
planned for August, 2015
§ï§âŻ Agrifos to appoint one board member at close, a second on
achieving development milestone
§ï§âŻ Transaction subject to a number of conditions and approvals
which are in the process of being satisfied
12. 12
Baobab Project Progress â July 2015
Task Status
GEOLOGY
Exploration Target Complete
Inferred Resource Complete
Indicated Resource Infill drilling underway
PROJECT
Contract mining and crushing Initial MOU established
Wet screening
Design & Engineering estimates
advanced
Transport MOU in Progress
Port MOU in Progress
SENEGALESE
GOVERNMENT
APPROVALS
Small Mine Permit (SMP) Complete
Environmental Impact Statement Lodged
Community Relocation and Compensation
Plan
In Progress
SHAREHOLDER
APPROVALS
General meeting planned for August 2015 Independent Experts Report
OFFTAKE Domestic & Export Early Discussions
13. 13
Baobab Milestones â 2015-2016
2015
 2016
Â
Resource
 Development
Â
Mining
 Permit
Â
Met
 Testwork
Â
Engineering
Environmental
 Permit
Â
Community
 RelocaXon
Â
Agreement
Â
Preliminary
 Feasibility
Â
Study
Â
Shareholder
 Approval
Â
Large
 Scale
Â
Â
Bulk
 Sampling
Â
ProducXon
14. 14
Wonarah Project â Northern Territory
§ï§âŻ Project 100% owned by Minemakers
§ï§âŻ One of Australiaâs largest JORC and NI43-101
compliant phosphate resource
§ï§âŻ Measured + Indicated Resource 300Mt
@ 18.2% P2O5 (10% cut-off)
§ï§âŻ Inferred Resource 542Mt @ 18.0% P2O5
(10% cut-off)
§ï§âŻ Excellent installed infrastructure including road,
rail and gas pipeline
Current Status
§ï§âŻ Development is subject to commercialisation of
IHP, currently in development by
JDCPhosphate
§ï§âŻ Low holding costs allow project to be
maintained until commercialisation is
possible
15. 15
Improved Hard Process (IHP)
§ï§âŻ Advanced downstream process aimed at transforming low grade rock phosphate into high value
superphosphoric acid (SPA) with substantial cost benefits
§ï§âŻ Additional benefits from improved environmental outcomes
§ï§âŻ Significant benefits over traditional wet-acid process
§ï§âŻ SPA is a key feedstock into commercial fertiliser market
§ï§âŻ Technology developed by Florida based JDCPhosphate Inc.
âąâŻ Minemakers owns 8.0% of JDCPhosphate
âąâŻ Minemakers has sole licence to use IHP in Australia, this will extend to Senegal
JDCPhosphate IHP Demonstration Plant â Florida
16. 16
4 Stage Growth Strategy
Stage
 1
Â
Stage
 2
Â
Stage
 3
Â
Stage
 4
Â
âąâŻ Focus on production
from Small Mine Plan
(SMP) area
âąâŻ Regulatory process
underway
âąâŻ Minimal processing
requiredâ wet screening
âąâŻ Upon commencement of
production, aiming to
achieve 500,000t pa
Â
âąâŻ Progress high priority
infill drill targets proximal
to SMP
âąâŻ Targeting thicker, high
grade mineralisation
Â
âąâŻ Drilling in 2014 indicates
mineralisation up to
30km east of SMP area
âąâŻ High priority broad-based
regional drill targeting
Â
âąâŻ Leverage IHP
Technology to produce
downstream, high
margin SPA product to
improve profitability
âąâŻ Applications for both
Baobab and Wonarah
Projects
Â
Baobab Project Wonarah Project
17. 17
Summary
ĂŒïŒâŻDevelopment of the Baobab Project is Minemakersâ priority
o⯠Provides the potential near-term rock phosphate production and cash flow
o⯠Strong strategic fit to Minemakersâ portfolio of high quality phosphate projects
o⯠Ability to leverage significant existing Senegalese expertise and track record
o⯠Shareholder approval being sought at meeting to be held in late August
ĂŒïŒâŻInvestment in IHP Technology provides potential to extract additional value via
downstream processing
ĂŒïŒâŻWonarah Project remains a long-term opportunity pending commercialisation of
IHP technology