Minemakers owns the world-class Wonarah phosphate deposit and has exclusive rights to the potentially game-changing IHP kiln technology. The IHP process is expected to produce high-value superphosphoric acid at lower costs than traditional methods. Minemakers is fully funded to complete a feasibility study on using IHP at Wonarah after JDCP validates the technology at its demonstration plant in 2013. Wonarah is well positioned to supply growing Asian and Indian markets and could become a major global phosphate producer.
1. “Becoming a major participant in the world phosphate and fertiliser sector”
CORPORATE PRESENTATION
AUGUST 2013
ASX: MAK | TSX: MAK
Cliff Lawrenson
Managing Director
2. This presentation is not a prospectus nor an offer of securities for subscription or sale in any jurisdiction nor a securities recommendation.
The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their
own examination of Minemakers Limited and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities.
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 or other information contained in this presentation.
To the maximum extent permitted by law, Minemakers Limited, its directors, officers, employees and agents disclaim 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.
Certain information in this presentation refers to the intentions of Minemakers Limited, but these are not intended to be forecasts, forward looking statements, or statements about future
matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause
Minemakers’ actual results, performance or achievements to differ from those referred to in this presentation will actually occur as contemplated.
The presentation contains only a synopsis of more detailed information published in relation to the matters described in this document 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
document. 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.
The drilling and other mining equipment featured in this presentation are generally not the property of the Company.
Competent Persons’ Statement
The qualified person in relation to this press release is Russell Fulton, who is the Geological Manager of the Company and a Member of the Australian Institute of Mining and Metallurgy,
and who has reviewed and approved the information in this press release. Mr Fulton has sufficient experience deemed relevant to the style of mineralization and type of deposit under
consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves’ and a ‘Qualified Person’ as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr Fulton consents to the inclusion
in the report of the matters based on his information in the form and context in which it appears.
With respect to the JORC, Clause 18, and in respect of some targets the potential quantity and grade of them are conceptual in nature, and there may have been insufficient exploration to
date to define a Mineral Resource and is uncertainty if further exploration would result in the determination of a Mineral Resource.
For further information on Wonarah, please refer to Minemakers NI43-101 compliant technical report entitled “Technical Report Mineral Resource Estimation for Wonarah Phosphate
Project, Northern Territory, Australia”, dated 15 March 2013 and available on SEDAR at www.sedar.com.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this report relative to markets for Minemakers’ trends in resources, recoveries, production and anticipated expense levels,
as well as other statements about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of
words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, should”, “could” or “might” occur or be achieved
and other similar expressions. Forward-looking statements are 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. 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 management’s estimates or opinions should change. Investors should
not place undue reliance on forward-looking statements.
2
Important Information
3. Phosphate is a vital part of plant nutrition and efficient
agriculture
Wonarah is a world class phosphate resource in a
favourable location with existing and available
infrastructure
Minemakers has an exclusive Australian licence to a kiln
technology to produce superphosphoric acid
Minemakers has a key strategic shareholder in Vulcan
Phosphates – global experts in phosphate markets
Minemakers is trading at cash value with sufficient cash
to complete the Wonarah project feasibility studies
3
Overview
4. 4
Executive Summary
World class phosphate resource
in favourable location
Measured and Indicated Resource of 300Mt @ 18.2% P2O5, Inferred Resource of 542Mt @ 18.0%
P2O5 @ 10% cut off
Located in stable jurisdiction, close to Asian and sub-continent markets
Transport road and rail infrastructure built and available
Supportive Northern Territory government – major project status granted and NT EPA approval
Exclusive Australian licence to
apply JDCP’s Improved Hard
Process (IHP)
IHP technology is expected to produce high value Superphosphoric acid (SPA) – 68/70% P2O5 at
lower capital and operating costs compared with wet acid process (producing DAP/MAP)
JDCPs IHP demonstration plant is in process of commissioning during 3Q CY2013
JDCPs investors include Minemakers, Vulcan Phosphates LLC, Mitsui & Co. (USA) Inc, Florida
Opportunity Fund and Espirito Santo Ventures (Portugal)
Wonarah very well suited to
application of IHP
Key inputs of rock phosphate and silica readily available on site, pet coke available regionally
High value SPA product produced on-site (>US$1,000/t) reduces sensitivity to transport costs
Each IHP kiln is designed to produce 181,000 metric tpa P2O5 (200,000 short tons). At current
prices and subject to successful validation of IHP technology, Minemakers internal estimates
suggest a comfortable operating margin
Target production is based on 5 installed kilns - flexibility to adopt an incremental expansion
approach to enable operating cashflows from early kilns to contribute to expansion
Key strategic fertiliser partner in
Vulcan
Vulcan is a 6.3% shareholder with a 4 year option to acquire a further 14m shares at A$0.30
Also major investor in JDCPhosphate Inc. (JDCP) and confident in ability to apply IHP to Wonarah
Deep commercial and operational knowledge of the fertiliser market with strong industry
relationships
Wonarah is a world class phosphate resource, in a stable political jurisdiction, with
existing transport infrastructure in place and close to key agricultural growth markets.
5. Resolve takeover battle - Minemakers/UCL Resources
Re-structure board & management
Focus strategy
Raise cash to develop Wonarah
Environmental approval for IHP at Wonarah
Secure cornerstone investor
Advance JDCP’s validation of IHP
Advance BFS for Wonarah
Complete BFS post IHP validation
Finance and construction of Wonarah
5
Management Objectives
6. Post Vulcan Placement Corporate Snapshot
6
Share price / volume history (A$; millions)
Ordinary shares on issue 247.5m
Share price – July 2013 A$0.12
Market capitalisation A$30m
Debt -
Cash – July 2013 A$28m
Enterprise value A$2m
Minemakers has approximately A$28 million cash on hand and is fully funded to
finalise the Wonarah BFS.
Investments
Interest Ownership Value
ASX Listed
Australian Minerals & Mining (ASX:AKA) 4.6% A$0.5m
Unlisted
TNT Mines 14.1%
JDCPhosphate 6.5%
Market Capitalisation and Enterprise Value
7. 7
100% owned by Minemakers
Australia’s largest JORC and NI43-101 compliant
phosphate resource
NT Major Project status
Excellent installed infrastructure
– Bitumen highway to rail at Tennant Creek
– Rail to Darwin or south to access domestic
markets
– Darwin import/export facilities
– Natural gas at Tennant Creek
– Water available on site
Mining Agreement with Traditional Owners in place
NT EPA has approved Mining Management Plan
assessment process for IHP operations. No further
environmental approvals required.
Wonarah Project – Northern Territory, Australia
8. A World-Class Phosphate Deposit
8
Resources (10% Cut-off)
Category Mt % P2O5
Measured 78 20.8
Indicated 222 17.5
Inferred 542 18
Resources (5% Cut-off)
Category Mt % P2O5
Measured 82 20.2
Indicated 391 13.2
Inferred 933 13
Wonarah is the largest known phosphate deposit in Australia. To date, only 15% of
the known phosphate has been sufficiently drilled to enable a resource estimate.
9. A World-Class Phosphate Deposit
9
Wonarah is the largest known phosphate deposit in Australia. To date, only 15% of
the known phosphate has been sufficiently drilled to enable a resource estimate.
10. 10
Undeveloped Independent Deposits
Compared with a selection of independent, undeveloped, land-based phosphate
deposits, Wonarah is the largest resource with higher than average grade.
ResourceMt(ContainedP2O5)
ResourceGrade(%P2O5)
Source: Intierra and Company Announcements
0%
5%
10%
15%
20%
25%
30%
35%
0
20
40
60
80
100
120
140
160
Minemakers-Wonarah
Ma'aden-UmmWu'al
Ma'aden-AlKhabra
Cominco-Hinda
Arrianne-LacaPaul
SunkarResources-Chilisai
CentralAustralianPhosphate(Nupower)-
Arganara
Legend-Paradise
Stonegate-Mantaro
RumJungle-BarrowCreek
PlainsCreek-Farim
Phoscan-Martison
Stonegate-ParisHills
GreatQuestMetals-Tilemsi
MBAC-Santana
PhosphateAustralia-HighlandPlains
Celamin-Chaketma
Average Grade = 16.2% P2O5
= Feasibility Study and later (Left Hand Side)
= Pre-Feasibility Study and Earlier (Left Hand Side)
= Resource Grade (Right Hand Side)
11. 11
Initial Project development supported by key infrastructure already in place
Highway, rail and port
Proximity to natural gas pipeline
Abundant water available
Adelaide – Darwin Rail
Infrastructure Advantage – Built and Available
East Arm Bulk Facility - Port of Darwin
Barkly Highway
12. Proximity to Markets
12
Wonarah is favourably positioned to supply the world’s fastest growing fertiliser
markets.
Nanjing, China
(2,927 nautical miles)
From: Approximate Distance (Nautical Miles) To:
Nanjing, China Kandla, India
Darwin, Australia 3,000 5,500
Tampa, Florida 9,900 8,800
Agadir, Morocco 9,800 5,500
Wonarah Project
Agadir, Morocco
Tampa, Florida
Kandla, India
(5,488 nautical miles)
Source: http://www.searates.com
13. 13
JDCPhosphate - Florida
JDCP’s demonstration plant is due to be commissioned in 3Q CY2013. This is
expected to be the defining process in the commercialisation of IHP.
JDCP is a Florida-based private developer of the IHP technology
Minemakers has the exclusive Australian licence to use IHP and owns 6.3% of JDCP
JDCP has been developing IHP for several years. A pilot plant has confirmed the process and JDCP is
scheduled to commission a 12,000 short tpa P2O5 demonstration plant in Florida in 3Q CY13.
JDCP investors include Minemakers, Vulcan, Mitsui & Co. (USA) Inc, Florida Opportunity Fund and
Espirito Santo Ventures (Portugal)
IHP is expected to result in substantial benefits:
– Significant capital and operating efficiencies
– Modular (each kiln designed to produce 181,000 metric
tpa contained P2O5), reducing initial capital investment
– Produces high value ±70% P2O5 SPA for premium
fluid/high nutrient fertiliser
– Low environmental impact, co-product has value
– No environmentally challenging and expensive
phosphogypsum stacks
– Logistical cost concentrated on high value product
– Elimination of the need for a sulphur based raw material
17. Improved Hard Process Competitive Matrix
17
Process
Technology
Target Market
Capital
Cost
Production
Cost
Acid
Quality
Environmental
Footprint
Co-product/
Waste
ProductTech Grade
Fertilizer
Grade
Wet Acid
Process (WAP)
WAP + Solvent
Extraction
Furnace Acid
Process
Improved Hard
Process
Strong
Competitive Position
Modest
Competitive Position
Weak
Competitive Position
19. Indicative Wonarah Economics
19
At current prices and subject to successful validation of IHP technology, indicative
internal Minemakers estimates show robust NPV & IRR outcomes and comfortable
operating margin.
Each IHP kiln is designed to produce 259,000 metric tonnes SPA (±70% P2O5)
or 181,000 metric tonnes1 of contained P2O5 and is expected to cost
US$150m–200m per kiln
Mine and infrastructure cost expected to be in $80m to $100m range
Target production is based on 5 installed kilns, but there is flexibility to adopt an
incremental expansion approach to enable operating cashflows from early kilns
to contribute to the funding of each additional kiln
An incremental build approach is a lower risk development approach and has
the potential to significantly reduce external funding requirements. For example,
if 1 kiln is added each year for 5 years this is expected to halve external funding
requirements compared with construction of 5 kilns immediately
Kiln expansion can be accelerated if conditions warrant
1. Note that JDCP quote each kiln production as 200,000 short tons of contained P2O5. 1 short ton is equivalent to 0.91 metric tonnes.
20. Wonarah Indicative Development Timetable
Item 2012 2013 2014 2015 2016
JV Partnering Process
Beneficiation Testwork
JDCP Demo Plant
Construction
Demo Plant Trialing
Regulatory Approvals
Finalisation of
Wonarah BFS
Financing
Construction
(1st Phase)
20
The BFS strategy is to ensure that significant expenditures are deferred until further
certainty is obtained on IHP. Finalisation of the BFS will occur post that point.
21. Investment in irreplaceable
commodity of strategic
importance
Phosphate is an irreplaceable commodity
Vital for ensuring long term food production security
Strategic location in a politically stable environment providing favourable
access to end-markets
Wonarah is a world class
asset with an existing
infrastructure solution
Minemakers owns 100% of Wonarah
Minemakers has access to IHP, a potentially game changing patented kiln
technology to produce high grade SPA at Wonarah
Producing high value SPA reduces the sensitivity to transport and logistical
costs
Incremental kiln development options significantly reduces reliance on third
party finance and provides development flexibility
Significant cash-backing
and support of
sophisticated phosphate
investor
Minemakers has strong cash backing of approximately A$29m (June 2013)
Investment by Vulcan at a premium to market price is confirmation of
project potential
Sufficient funding to complete BFS in 2H CY2014 subject to IHP validation
Currently no value is being
attributed to Wonarah
Compared with peers, no value is being attributed to reserves
Cash burn is minimised to retain optionally
Longer term, exclusive IHP licence and interest in JDCP has value
Investment Rationale
21
Minemakers provides a pure exposure to a commodity of strategic importance at an
attractive current valuation in a cash backed company.
22. 22
Board of Directors
RICHARD (DICK) BLOCK - Non Executive Chairman
Dick Block is a US based mining and processing industry executive with almost four decades experience in the fertiliser and base and
precious metals businesses. The majority of his career was with the Freeport-McMoRan group of companies, where he rose to
Executive Vice President and COO of Freeport-McMoRan Inc. and Senior Vice President of Freeport-McMoRan Copper & Gold
Inc. In addition, he was President of two of the world's largest phosphate mining and fertilizer producing firms, Agrico Chemical
Company and IMC-Agrico Company. Further, he was deeply involved in the Queensland Nickel JV in Australia in the 1980s.
CLIFF LAWRENSON - Managing Director
Cliff Lawrenson joined Minemakers in mid 2012 after holding the position of Chief Executive Officer of FerrAus Limited which he led to
a recommended takeover by Atlas Iron Limited in December 2011. Mr Lawrenson held the position of Group Chief Executive Officer
of GRD Limited from 2006 which incorporated GRD Minproc Limited, OceanaGold Limited and Global Renewables. Prior to joining
GRD Limited, Mr Lawrenson was a Senior Executive and Vice President of CMS Energy Corporation in the United States of America
and Singapore.
He has worked extensively in investment banking around the world, including with Macquarie Bank in Australia and holds
postgraduate qualifications in Finance and Strategy.
RICHARD O’SHANNASSY - Non Executive Director
Richard O'Shannassy is a commercial lawyer with over 30 years experience in the mining and energy sectors. He has experienced
private legal practice, including conducting his own practice in Perth for nearly 20 years, as well as in-house roles and most recently,
he was General Counsel and Company Secretary for Hardman Resources Limited until it was acquired by Tullow Oil plc under a
Scheme of Arrangement in early 2007. He has served upon mining industry committees over a number of years and is a member of
Australian Mining and Petroleum Law Association Inc.
IAN MCCUBBING - Non Executive Director
Mr McCubbing is a Chartered Accountant with more than 25 years corporate experience, principally in the areas of corporate finance
and M&A. He has spent more than 13 years working with ASX-listed companies in senior finance roles, including positions as Finance
Director and Chief Financial Officer in industrial and mining companies.
24. World Fertiliser Consumption
24
Phosphate – Crucial for Food Production
With no substitute for phosphate and 40% of world food production directly linked to
manufactured fertiliser application, phosphate is crucial.
40% of world food production is directly linked
to manufactured fertiliser application
Phosphate fertilisers facilitate
– Root development
– Water use efficiency
– Early plant maturity
– Higher yields
No substitute for phosphate
Phosphate
23%
Potash
16%
Nitrogen
61%
K
Nitrogen
Essential to formation of protein
Protein makes up most of the tissues in living things
Manufactured from gas or coal (ammonia, urea)
Phosphorus (Phosphate)
Critical to plant development
Key to photosynthesis, converting sunlight to energy
Important to respiration, cell division and growth, energy storage and transfer in cells
Phosphate is mined, usually from surface
Potassium (Potash)
Produces higher quality crops
More weight per kernel, greater food oil production, better wheat food qualities
Important in carbohydrate and starch synthesis
Potash is mined, usually underground
N
25. Importance of Fertiliser in Food Supply
25
0
500
1000
1500
2000
2500
3000
3500
Australia Canada US China India Southeast Asia World
1975 1985 1995 2005
Haper1000people
-21.8%
-25.1%
-33.1%
-16.0% - 46.7% -32.2%
-35.1%
Worldwide arable land per capita is expected to
fall from 1.15 acres to 0.53 acres by 2039
Source: Food and Agriculture Organization, United Nations
As the world availability of arable land decreases, crop yields will become an
increasing focus resulting in a heavy reliance on fertilisers.
Crop Yield and Fertiliser Usage in India
Arable Land per Capita
Consumption(mt)
0
5
10
15
20
25
30
0
500
1000
1500
2000
2500
Fertilzer consumption (mt) Yield (kg/ha)
Yield(kg/ha)
1962 1971 1980 1989 1998 2007
Fertiliser consumption (mt)
26. Uses of Phosphate
26
A MINED PRODUCT, ESSENTIAL FOR MANKIND
90%10%
Fertilisers for Food
Fertilisers for animal feeds
Fertilisers for fibre crops
Fertilisers for biofuel crops
Elemental Phosphorus
Herbicides and pesticides
Matches
Phosphors
Food supplements & additives
Glass & china making
Steel manufacture
Laundry detergents
Toothpaste & baking
Rust inhibitors
Phosphate has wide reaching uses in addition to fertilisers including steel
manufacturing and toothpaste – it is essential for mankind.
27. Global Supply of Phosphate
27
Seven countries in
Middle East and North
Africa account for:
79% of world reserves
27% of world production
75% of world merchant market
Morocco has 36% of the
merchant market
“Phosphate is vital for all forms of life and given its irreplaceable role in sustainable
global food supply, it is of paramount importance to establish supply sources in
regions where long term political risk is demonstrably low”
The Middle East and North Africa have most of the worlds reserves with Morocco
controlling 36% of the merchant market. Wonarah represents a politically stable,
alternate source of supply.
28. Proximity to Emerging Agricultural Markets
28
0
20
40
60
80
100
120
140
160
180
200
Millionsha
2005 2050
1. Developing countries using more than 10M ha of arable land.
Source: Looking ahead in world food and agriculture: Perspectives to 2050, Food and Agriculture Organization, United Nations.
In 2005, 18 countries accounted for 75% of arable land in use in developing
countries (~966mha, or ~60% of the World total arable land in use)1.
Wonarah’s planned export port
(Darwin) is well positioned to
supply the 2 largest developing
agricultural markets in the world as
well as several other significant
Asian markets
29. 29
Move to Downstream Processing
The merchant rock phosphate concentrate market is shrinking as more rock
producers vertically integrate and value-add on site. Downstream products like SPA
are expected to be more sought after by end users compared with rock concentrate.
Concentrate
59%
Phosacid
29%
DAP/MAP/TSP
12%
31 27
115
183
146
210
0
50
100
150
200
250
1999 2012
Merchant Vetical
Mtpa
Vertical Integration
Morocco (OCP) Exports 2005
Morocco (OCP) Exports 2012
Concentrate
47%
Phosacid
22%
DAP/MAP/TSP
31%
Global Rock Phosphate Concentrate Market
Source: 2005 data from IFA, Production and Trade Statistics: 2012 data from FMB
monthly report Phosphates, February 2012. OCP (Office Cherifien des Phosphates)
is owned by the Government of Morocco. Morocco’s concentrate exports were
13.4 million tonnes in 2005 and approximately 9.5 million tonnes in 2012.
Source: IFA, US Geological Survey, FMB. Merchant market share, which is
world exports as a percentage of world production, declined from 22% in 1999
to 13% in 2012. For 2012, Morocco’s exports were approximately 9.5 million
tonnes, or 35% of total world exports of 27 million tonnes.
32. Pricing of Phosphate Products
Source: World bank
32
Current Price (US$/t) FOB Morocco
Rock Phosphate 160 - 170
DAP - Diammonium Phosphate 500 - 550
MAP - Mono Ammonium Phosphate 500 - 550
MGA - Merchant Grade Phosphoric Acid 700 - 900
SPA - Superphosphoric Acid 1,000 - 1,200
The rock phosphate price has been fairly consistent since 2009 and is currently
trading at US$160-170/t.
Source: Profercy Phosphates & NPKs
0
50
100
150
200
250
300
350
400
450
500
US$
Rock Phosphate, FOB Morocco
33. The Phosphate Product Chain
33
0%
10%
20%
30%
40%
50%
60%
70%
80%
Rock Phosphate SSP TSP DAP MAP MGA SPA
PercentageP2O5Content
Rock Phosphate
Direct application
Fertiliser
Primary downstream
feed
TSP
Pasture Fertiliser
Inputs - Rock
Phosphate & MGA
MAP
Crop Fertiliser
Inputs - Rock
Phosphate &
Sulphuric Acid &
Ammonia
SPA
Premium
intermediate
product
Liquid fertilisers,
phosphorus food
products &
chemicals
DAP/MAP
Inputs - Rock
Phosphate,
Silica & Pet
Coke
SellingPriceFOBMorocco(US$)
DAP
Crop Fertiliser
Inputs - Rock
Phosphate &
Sulphuric Acid &
Ammonia
SSP
Pasture Fertiliser
Inputs - Rock
Phosphate &
Sulphuric Acid
MGA
Intermediate
Product
Inputs - Rock
Phosphate and
Sulphuric Acid
Minemakers Target
Market
SPP
TSP
Single superphosphate
Triple superphosphate
DAP
MAP
Diammonium Phosphate
Mono Ammonium Phosphate
MGA
SPA
Merchant Grade Phosacid
Superphosphoric Acid
Minemakers aims to move up the P2O5 value chain on-site, primarily due to
unavoidable logistical costs of moving product from Wonarah to the Port of Darwin.
160
1,200
34. Wonarah Production Options
Mining
Beneficiation to 30% P2O5
Reaction with sulphuric acid to produce
phosphoric acid
Filtration to remove gypsum
Concentration of acid through condenser to
MGA (54% P2O5)
Ammoniation of phosphoric acid and
granulation; N introduced to produce DAP/MAP
– high nutrient value products
Environmentally challenging phosphogypsum
stacks are used for WAP waste
CAPEX estimate - $2.5b
34
Mining
Beneficiation to 15-20% P2O5
Grinding with pet coke and silica
Pelletisation
Roasting in ported rotary kiln
Delivers phosphorus rich gas
Hydration process
SPA – ±70% P2O5 – very high nutrient value
product
Co-product is low environmental impact and
useable inert J-Rox (spent pellets)
CAPEX estimate – incremental from $300m
Wet Acid Process to Produce DAP / MAP Improved Hard Process (IHP) to Produce SPA
The Improved Hard Process (IHP) delivers a ±70% P2O5 Superphosphoric acid product
(SPA) at a lower capital and operating cost and much improved environmental impact.
35. 35
Strategic Partnership with Vulcan Phosphate
Vulcan has a deep understanding of world fertiliser markets and a strong fertiliser
investment track record. The investment in Minemakers is a strong endorsement of the
potential at Wonarah to create a significant high value phosphate production facility.
On 2 April 2013 Minemakers announced that Vulcan had made a strategic investment in Minemakers:
– A placement of 14m shares at A$0.18 (33% premium to prevailing share price)
– A 4 year option to acquire a further 14m shares at A$0.30
Following the placement, Vulcan holds 5.7% of Minemakers
Vulcan is an investment vehicle jointly associated with two sophisticated, long term fertiliser market
investors, Agrifos and Solvochem
The Agrifos group of companies is owned by Farouk Chaouni, Timothy Cotton and Margaret Smith.
Following the sale of its Pasadena, Texas ammonium sulfate plant to Rentech Nitrogen in November
2012, for a cash price of US$138 million and other consideration, the Agrifos group remains focused on
project and business development activities in the fertiliser and related sectors
Solvochem supplies chemicals, solvents and plastics worldwide through it’s network of companies
located throughout Europe, the Middle East and Africa. Solvochem is an acknowledged authority in the
field of bulk storage and distribution of chemicals and petrochemicals
Vulcan has deep fertiliser market knowledge and relationships; particularly with potential offtake partners.
Vulcan is also a major shareholder in JDCP
Further enabling relationships are being explored together with Vulcan