0

Sales & Marketing

April 2017

1

Disclaimer

1

2

Syrah's Balama deposit has the largest defined reserve and is the only fully funded listed graphite project

160

140

Syrah Resources' low-grade stockpiles at 2 - 9% TGC will be greater than most other proposed projects' head grade

120

Tonnage (Mt)

100

80

Volt Resources

Magnis Resources

  1. Mt at 9% TGC cut-

    off

    Syrah Resources

    60

    40

    Northern

    Graphite

    Energizer Resources

    Battery Minerals

    20

    Eagle Graphite

    0

    Kibaran

    Resources

    Focus

    Graphite

    Mason

    Graphite

    0 5 10 15 20 25 30

    Grade (% TGC)

    Source: Syrah Resources, Corporate Reports. bubble size representative of defined reserve.

    1. ASX and TSX listed projects only and excludes Chinese producers

    2. Cut-off grade for Northern Graphite (Ontario, Canada) is 1% TGC

    3. Cut-off grade for Energizer Resources (Madagascar) is 4.5% TGC

    4. Cut-off grade for Kibaran Resources (Tanzania) is 5% TGC

    5. Cut-off grade for Battery Minerals (Mozambique) is 4.4% TGC

    6. Cut-off grade for Focus Graphite (Quebec, Canada) is 3.1% TGC

    7. Cut-off grade for Mason Graphite (Quebec, Canada) is 6% TGC

    8. Cut-off grade for Volt Resources (Tanzania) is 1.3% to 1.8% TGC

    9. TGC = Total graphitic carbon

    Unfunded

    Fully funded

    2

    3

    Major project metrics highlight the attractiveness the Balama investment Capital Intensity

    (US$ invested or proposed / tonne of capacity)

    4.0

    2.00

    Strip Ratio

    (tonne of waste per tonne of graphite ore)

    3.0 1.50

    2.0

    1.0

    Syrah

    0.0

    0.6

    1.00

    0.50

    Australia

    Tanzania

    Tanzania

    Tanzania

    Australia

    Australia

    USA

    Canada

    Canada

    0.00

    Syrah

    USA

    Canada

    Canada

    Canada

    Canada

    Australia

    Tanzania

    Tanzania

    0.04

    800

    600

    400

    200

    Syrah

    0

    286

    Madagascar

    Mozambique

    Mozambique

    Cash cost per tonne at full production

    (US$/t)

    400

    300

    200

    100

    Canada

    Canada

    Tanzania

    Tanzania

    Australia

    Canada

    Canada

    Australia

    Syrah

    0

    350

    Production Capacity

    (ktpa)

    Mozam…

    Mozam…

    Tanzania

    Mozambique

    Mozambique

    Tanzania

    Australia

    Mozambique

    Australia

    Australia

    Australia

    USA

    Canada

    Source: Syrah Resources, Corporate Reports 3

    Note: Competitor location based on location of proposed mine, not company headquarters.

    Syrah Resources Limited published this content on 28 April 2017 and is solely responsible for the information contained herein.
    Distributed by Public, unedited and unaltered, on 27 April 2017 22:59:21 UTC.

    Original documenthttp://www.syrahresources.com.au/investors/downloads/437

    Public permalinkhttp://www.publicnow.com/view/E52C6645CED59E87ABCE92E0973855653302570B