PROJECT GENERATION

RIGHT PEOPLE WITH A PROVEN SCIENCE-BASED APPROACH TO FINDING LARGE ORE DEPOSITS GLOBALLY

Future Growth & Project Generation

Right People

Chair Paul Roberts and Non-Executive Director Barry Murphy held senior roles in the Predictive Mineral Discovery Cooperative Research Center (+A$100m of research: 2001-8)

Paul and Barry deployed a geophysically-driven structural approach to gold discovery in West Africa through Predictive Discovery (ASX:PDI)

GREENFIELD MANGANESE IN THE TROPICS

DeSoto’s project generation team has begun work on new regional-scale manganese opportunities

Manganese targeting criteria

• Manganese rich dolomites or black shales
• Tropical belt – active lateritisation to achieve +40% MnO2 grades
• Truck/rail distance to coast (normally <500km)
• Underexplored

Future Growth & DeSoto

Little systematic greenfields Mn exploration globally – less competition

• Team with global Mn knowledge
• Relatively low cost exploration (e.g. shallow,cheap drilling – target ore within 50m of surface)
• Low capex for development – basically a quarrying operation

Projects to evolve post IPO