ASX:SRX

SIERRA RUTILE HOLDINGS PTY LTD

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Sembehun

Sierra Rutile will be focused on advancing Sembehun, representing one of the largest and highest grade natural rutile deposits in the world

Notes: (1) Excludes head office corporate costs; (2) Unit cash costs (net of co-product credits) represent the total cash costs of production less the revenue earned from co-products (ZIC, TIC and ilmenite), divided by the total tonnes of rutile produced (exclusive of TIC).

Indicative Timeline

Sierra Rutile’s approach aims to see the development of Sembehun integrated with the remaining operations at Area 1. The below timeline is based on the recently completed Sembehun PFS

Note: Sierra Rutile is working towards being in a position to make a final investment decision in 2023 which would allow Sierra Rutile to target the commencement of Phase 1 Sembehun production within 24 months. This timeline is indicative and may be subject to change including due to matters outside Sierra Rutile’s control.