KEY METRICS FROM THE FEASIBILITY STUDY-
100%-owned Molo graphite deposit in southern Madagascar. -
FS Highlights | 1. | Post-tax: NPV (10% Discount Cash Flow)(1)(2) | US$389,797,113 |
| 2. | Post-tax: IRR(1)(2) | 31.2% |
| 3. | Payback(2) | 4.84 years |
| 4. | Capital cost ("CapEx") | US$149.9 million |
| 5. | Design Development Allowance | US$13.8 million |
| 6. | Contingency | US$24.6 million |
| 7. | On-site Operating Costs ("OpEx") per tonne of concentrate, Year 3 onward) | US$353 |
| 8. | Transportation per tonne of concentrate (from Mine site to Madagascar Port Year 3 onward) | US$182 |
| 9. | Transportation per tonne of concentrate (from Madagascar Port to European Customer Port from Year 3 onward) | US$155 |
| 10. | Average annual production of concentrate | 53,017 tonnes |
| 11. | Life of Mine ("LOM") | 26 years |
| 12. | Graphite concentrate sale price (US$/tonne at Start Up - 2017) | US$1,689 per tonne |
| 13. | Average Head Grade | 7.04% |
| 14. | Average ore mined per annum | 856,701 tonnes |
| 15. | Average stripping ratio | 0.81:1 |
| 16. | Average plant recovery | 87.80% |
"Completion of the feasibility study is a significant milestone along the development path of our Molo graphite project," stated Richard Schler, Chief Executive Officer of Energizer. "We have now confirmed that our project is economically viable with a planned mine design that we believe is both conservative and realistic. It indicates the project has attractive economics and that we have one of the lowest operating costs in the industry. Our graphite deposit is large enough to realize a very long mine life and the plant is scalable so we can quickly ramp up production if so required. The plant will be able to produce a high quality graphite concentrate, which can supply the entire spectrum of end uses for natural graphite including the foil and Electric Vehicle battery markets. We believe this will be the stepping stone to help secure both off-take and project financing in the near future. We will now turn our entire focus towards delivering on these objectives over the coming months with a goal to be in production by 2017." Metallurgical Data - Flake Size Distribution and Product Grade
| Product Size | % Distribution | Product Grade (% Carbon) |
| +48 mesh (jumbo flake) | 23.6 | 96.9 |
| +65 mesh (coarse flake) | 14.6 | 97.1 |
| +80 mesh (large flake) | 8.2 | 97.0 |
| +100 mesh (medium flake) | 6.9 | 97.2 |
| +150 mesh (medium flake) | 15.5 | 97.3 |
| +200 mesh (small flake) | 10.1 | 98.1 |
| -200 mesh (fine flake) | 21.1 | 97.5 |
Pricing Matrix - Flake Size Distribution Grouping and Product Grade
| Product Size | % Distribution | Product Grade (% Carbon) |
| >50 mesh | 23.6 | 96.9 |
| -50 to +80 mesh | 22.7 | 97.1 |
| -80 to +100 mesh | 6.9 | 97.2 |
| -100 mesh | 46.8 | 97.6 |