“Becoming a major participant in the world phosphate and fertiliser sector”

CORPORATE PRESENTATIONAUGUST 2013

ASX: MAK | TSX: MAKCliff LawrensonManaging Director

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

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

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.

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

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.

InvestmentsInterest 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

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

A World-Class Phosphate Deposit

8

Resources (10% Cut-off)

Category Mt % P2O5

Measured 78 20.8Indicated 222 17.5Inferred 542 18

Resources (5% Cut-off)

Category Mt % P2O5

Measured 82 20.2Indicated 391 13.2Inferred 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.

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

Undeveloped Independent Deposits

Compared with a selection of independent, undeveloped, land-based phosphate deposits, Wonarah is the largest resource with higher than average grade.

Res

ourc

e M

t (C

onta

ined

P2O

5)

Res

ourc

e G

rade

(% P

2O5)

Source: Intierra and Company Announcements

0%

5%

10%

15%

20%

25%

30%

35%

0

20

40

60

80

100

120

140

160M

inem

aker

s - W

onar

ah

Ma'

aden

- U

mm

Wu'

al

Ma'

aden

- A

l Kha

bra

Com

inco

- H

inda

Arr

iann

e - L

ac a

Pau

l

Sun

kar R

esou

rces

- C

hilis

ai

Cen

tral A

ustra

lian

Pho

spha

te (N

upow

er) -

Arg

anar

a Lege

nd -

Par

adis

e

Sto

nega

te -

Man

taro

Rum

Jun

gle

- Bar

row

Cre

ek

Pla

ins

Cre

ek -

Farim

Pho

scan

- M

artis

on

Sto

nega

te -

Par

is H

ills

Gre

at Q

uest

Met

als

- Tile

msi

MB

AC

- S

anta

na

Pho

spha

te A

ustra

lia -

Hig

hlan

d P

lain

s

Cel

amin

- C

hake

tma

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

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

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 5,500Tampa, Florida 9,900 8,800

Agadir, Morocco 9,800 5,500

Wonarah Project

Agadir, MoroccoTampa, Florida

Kandla, India(5,488 nautical miles)

Source: http://www.searates.com

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

Improved Hard Process (IHP)

Source: JDCPhosphate

14

IHP – Pilot Plant using Wonarah Feed

15

Mixing

Rotary Furnace Hydrator Waste Pellets

Pelletising Dried Pellets

Improved Hard Process (IHP)

16

Concept Plan of Proposed IHP Plant

Improved Hard Process Competitive Matrix

17

Process Technology

Target MarketCapital

CostProduction

CostAcid

QualityEnvironmental

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

WeakCompetitive Position

Proposed EPC Arrangements

18

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.

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.

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 ofsophisticated 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

Board of Directors

RICHARD (DICK) BLOCK - Non Executive ChairmanDick 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 DirectorCliff 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 DirectorRichard O'Shannassy is a commercial lawyer with over 30 years experience in the mining and energy sectors. He has experiencedprivate 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.

Phosphate Facts

23

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

Phosphate23%

Potash16%

Nitrogen61%

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

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

Ha

per 1

000

peop

le

-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

Con

sum

ptio

n (m

t)

0

5

10

15

20

25

30

0

500

1000

1500

2000

2500

Fertilzer consumption (mt) Yield (kg/ha)

Yiel

d (k

g/ha

)

1962 1971 1980 1989 1998 2007

Fertiliser consumption (mt)

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.

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.

Proximity to Emerging Agricultural Markets

28

0

20

40

60

80

100

120

140

160

180

200

Mill

ions

ha

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

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.

Concentrate59%

Phosacid29%

DAP/MAP/TSP12%

31 27

115

183

146

210

0

50

100

150

200

250

1999 2012

Merchant Vetical

Mtp

a

Vertical Integration

Morocco (OCP) Exports 2005

Morocco (OCP) Exports 2012

Concentrate47%

Phosacid22%

DAP/MAP/TSP31%

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.

Wet Acid Process

30

Supporting slides

31

Pricing of Phosphate Products

Source: World bank32

Current Price (US$/t) FOB MoroccoRock 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

050

100150200250300350400450500

US$

Rock Phosphate, FOB Morocco

The Phosphate Product Chain

33

0%

10%

20%

30%

40%

50%

60%

70%

80%

Rock Phosphate SSP TSP DAP MAP MGA SPA

Perc

enta

ge P

2O5 C

onte

nt

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

Selli

ng P

rice

FOB

Mor

occo

(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 superphosphateTriple superphosphate

DAP

MAP

Diammonium PhosphateMono Ammonium Phosphate

MGA

SPA

Merchant Grade PhosacidSuperphosphoric 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

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 phosphogypsumstacks 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

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