E L H EQ L H QU v HI UA vl IG A l 2 G I f O 2, GH I r v f OR G HL i r v r ri r RI G L i rik ill r ic H N IAL HIGHLIGHS Iiil JOR l JOR llricl rk vrll rcvri rik yk frr rk ic i ici b cl llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 HIGHLIGHS Iiil JOR l JOR llricl rk vrll rcvri rik yk frr rk ic i ici b cl llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 HIGHLIGHS Iiil JOR l JOR llricl rk vrll rcvri i rik yk frr rk ic i ici b cl llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN HIGHLIGHS Iiil JOR l JOR 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN HIGHLIGHS Iiil JOR l JOR 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN HIGHLIGHS Iiil JOR l JOR 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN HIGHLIGHS Iiil JOR l JOR 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl Rck y llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN HIGHLIGHS Iiil JOR l JOR 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl Rck y llvil ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN Iiil JOR l JOR 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl Rck y Hi ribl Hi Hr Hi l Hi i I l Rrc 15% c EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN l JOR irl 319% llricl rk vrll rcvri i rik yk frr rk ic i ici b cl Rck y Hi ribl Hi Hr Hi l Hi i I l Rrc 15% c- EQUAORIAL S, G r, 28 El, r, WA, Arli 6000 AIEN irl 319% llricl rk vrll rcvri rik yk ic i ici b cl Rck y Hi ribl Hi Hr Hi l Hi i I l Rrc -ff r LIIE, G r, 28 El, r, WA, Arli 6000 AIEN irl 319% llricl rk vrll rcvri rik yk ic i ici b cl Rck y Hi ribl Hi Hr Hi l Hi i I l Rrc ff r LIIE, G r, 28 El, r, WA, Arli 6000 AIEN irl 319% llricl rk vrll rcvri rik yk- ic i ici b cl Rck y Hi ribl Hi Hr Hi l Hi i I l Rrc ff r bl LIIE, G r, 28 El, r, WA, Arli 6000 AIEN irl 319% llricl rk vrll rcvri - ic i ici b cl Rck y Hi ribl Hi Hr Hi l Hi l Rrc ff r bl LIIE, G r, 28 El, r, WA, Arli 6000 AIEN irl 319% llricl rk vrll rcvri ic i ici b cl Rck y Hi ribl Hi l Hi l Rrc ff r bl LIIE, G r, 28 El, r, WA, Arli 6000 AIEN irl 319% llricl rk vrll rcvri ic i ici b cl Rck y Hi l Rrc ff r bl LIIE, G r, 28 El, r, WA, Arli 6000 AIEN HEAIE irl llricl rk vrll rcvri ic i ici b cl Hi ff r bl, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei llricl rk vrll rcvri ic i ici b cl ff r rrc ci iic i bl AN, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei llricl rk vrll rcvri ic i ici b cl rrc ci iic i bl 1 AN, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei llricl rk vrll rcvri ic i ici b cl rrc ci iic i 1: AN, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei llricl rk ic i ici b cl rrc ci iic i : AN, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ji ic i ici b cl rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ji ic i ici b cl rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ji ic i ici b cl rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ji ic i ici b cl rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ji ic i ici b cl rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl (illi) rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl (illi) rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl (illi) rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl (illi) rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl (illi) rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r ic i ici b cl yk (illi) rrc ci iic i, G r, 28 El, r, WA, Arli 6000 HEAIE Rrc Ei r il fr H ic i ici b cl by i 2013 yk (illi) rrc ci iic i Rrc Ei il fr H by i 2013 yk (illi) 1018 6650 7668 rrc ci iic i Rrc Ei il fr H by i 2013 yk (illi) 442 402 174 1018 6650 7668 rrc ci iic i Rrc Ei il fr H by i 2013 yk (illi) 442 402 174 1018 6650 7668 rrc ci iic i il fr H by i 2013 yk 442 402 174 1018 6650 7668 rrc ci iic i (Hi i) il fr H by i 2013 yk 442 402 174 1018 6650 7668 rrc ci iic i (Hi i) il fr H by i 2013 yk 442 402 174 1018 6650 7668 rrc ci iic i (Hi i) il fr H by i 2013 yk- Ir rjc rrc ci iic i (Hi i) il fr H by i 2013 Ir rjc rrc ci iic i (Hi i) il fr H by i 2013 Ir rjc rrc ci iic i (Hi i) il fr H by i 2013 Ir rjc rrc ci iic i 466 5030 - (Hi i) il fr H by i 2013 Ir rjc % rrc ci iic i 466 5030 - (Hi i) il fr H Ir rjc % rrc ci iic i 466 5030 (Hi i) il fr H Ir rjc % 466 5030 1 (Hi i) il fr H Ir rjc % 466 5030 1 (Hi i) il fr H Ir rjc % 439 386 367 406 306 319 466 5030 (Hi i) il fr H Ir rjc % 439 386 367 406 306 319 466 5030 (Hi i) il fr H 35 Ir rjc 439 386 367 406 306 319 466 5030 O (Hi i) il fr H 35 Ir rjc 439 386 367 406 306 319 466 5030 x O (Hi i) il fr H 35%, r Ir rjc 439 386 367 406 306 319 x O (Hi i) il fr H %, r Ir rjc x O (Hi i) il fr H %, r Ir rjc O (Hi i) il fr H %, r Ir rjc O 102 (Hi i) il fr H %, r Ir rjc 102 (Hi i) il fr H %, r Ir rjc 102 (Hi i) il fr H %, r 16k Ir rjc SiO 102 (Hi i) il fr H 16k Ir rjc SiO 102 (Hi i) il fr Hi 16k Ir rjc SiO 102 (Hi i) i 16k Ir rjc SiO 2 (Hi i) i 16k Ir rjc 2 % (Hi i) i 16k, f Ir rjc % 190 349 422 292 474 4 i, f Ir rjc % 190 349 422 292 474 450 Iic Ifrr i, f - 190 349 422 292 474 50 Iic Ifrr i, f - brry 190 349 422 292 474 50 frr rrc clifici ic r il i bl 3 5 Iic Ifrr i, f brry 190 349 422 292 474 50 -ff r i Iic Ifrr 4 brry 2013 i R, f brry ff r i Iic Ifrr 4 brry 2013 Rrc, f brry ff r i Iic Ifrr 4 brry 2013 rc, f i Sy brry ff r i Iic Ifrr qrilrrcc 4 brry 2013 rc, f i Sy brry ff r i Iic Ifrr qrilrrcc 4 brry 2013 - rc r i Sy brry Al ff r i Iic Ifrr qrilrrcc 4 brry 2013 rc r i Sy brry Al ff r i Iic Ifrr qrilrrcc 4 brry 2013 rc r i Sy brry Al 2 ff r i Iic Ifrr qrilrrcc 4 brry 2013 rc r i Sy brry 2O ff r i Iic Ifrr qrilrrcc 4 brry 2013 rc r i Sy 2013 O 3 ff r i Iic Ifrr qrilrrcc 4 brry 2013 -j rc r i Sy 2013 3 % ff r i Iic Ifrr qrilrrcc 4 brry 2013 j r i Sy 2013 % ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir r i Sy 2013 % 96 53 26 67 3 36 ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir r i Sy 2013 96 53 26 67 3 36 ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir r i Sy 96 53 26 67 31 36 ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir r i Sy 96 53 26 67 1 36 ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir r 46k f irli i Sy ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir 46k f irli i Sy ff r i Iic Ifrr qrilrrcc 4 brry 2013 j livr ri ir 46k f irli i Sy ff r i I r qrilrrcc 4 brry 2013 j livr ri ir 46k f irli i Sy I r qrilrrcc j livr ri ir 46k f irli i Sy I r qrilrrcc livr ri ir 46k f irli i Sy % I r qrilrrcc A f 7 livr ri ir 46k f irli i Sy % I r qrilrrcc A f 7 livr ri ir 46k f irli i Sy % I r qrilrrcc A f 7 livr ri ir 46k f irli i Sy - % 0069 0066 0063 0067 005 0057 I rr qrilrrcc A f 7 livr ri ir 46k f irli - % 0069 0066 0063 0067 005 0057 r qrilrrcc A f 767 livr ri ir 46k f irli 0069 0066 0063 0067 005 0057 r qrilrrcc 67 livr ri ir 46k f irli 0069 0066 0063 0067 005 0057 r qrilrrcc 67 livr ri ir 46k f irli 0069 0066 0063 0067 0056 0057 r qrilrrcc 67 livr ri ir 46k f irli 0069 0066 0063 0067 6 0057 r qrilrrcc illi livr ri ir 46k f irli 0069 0066 0063 0067 6 0057 qrilrrcc illi livr ri ir 46k f irli illi livr ri ir 46k f irli illi livr ri ir 46k f irli illi livr ri ir 46k f irli illi livr ri ir 46k f irli illi livr ri ir 46k f irli illi livr ri ir 46k f irli
4 brry 2013 HIGHLIGHS (i) Eqril Rrc Lii ( Eqril r y ) i l c 767 illi i irl Rrc Ei ( RE ) fr i 100% yk- Ir rjc ( yk- r rjc ) i - f Rblic f ( RO ) (rfr ir 1) l RE f 767 illi 319% cri Iic Ifrr Hi Rrc c f 102 illi 406% ( Hi Rrc ) Iic Ifrr i Rrc c f 665 illi f r i Ir ri ( I ) 306% ( i Rrc ) Hi Rrc i f r r y iifi yk-: llvil Hi, ribl Hi, Hr Hi llricl rk cl i ril i xc rily rc ri l fi ir rc ri bv 63% i l irii r il rci ciq i i vrll rcvry i Hi Rrc ill b iiil rrc b fr Eqril Sci Sy -i fibiliy i fc rly rci fr yk- i rjc cc xii rr ifrrcr r rc cifici - r r bl i bl 2 yk- Ir rjc r rc Scifici % SiO 2 % Al 2 O 3 % % S % io 2 % LOI 1000 >630 <50 <24 <0080 <0025 <007 <25 bl 2: r rc Scifici RE b rr by i cl SA Glbl y L ( SA ) rr i ccrc i JOR (2004) RE i b fr 43,743 r f rilli fr 383 rill l rilli x vr rik l f 16k ic rr ly 35% f iifi ic rik rjc Accrily, rr i RE i cir iiil rrc il xi billy icr rrc b i -i rilli Eqril i ircr EO, r J Wlbr, i: i JOR Rrc - i iific il fr Eqril Hi Rrc f r 100 illi rr lr ivry f rbl ril r ri livr ri ir rc lbl rk i xii rily r ic rvic rjc i rrc i rl f xcll rk by r cicl ill iily b icrr i Sci Sy ic xc b cl by i-yr l rrc f 767 illi, i bil riy fr frr r, clrly r cl l r il f rjc 2
4 brry 2013 ROJE LOAION AN AKGROUN yk- i lc i - ri f RO i r f Niri rjc cc xii ril rily li lik rjc r r r f i-nir Eqril xlri ry yk- b iify r rfc i irlii bl vl f r- rjc b y cc rr ifrrcr A irbr yicl rvy crri vr ir rjc r i l 2010 iifi fiv l ir rc i cbi i rik l f r 46k Sbq rfc rck ci li iifi i r i rfc i r 617% (rfr ASX c 30 Nvbr 2010) A i rvr circli ( R ) rilli ci cc yk- i rc 2011 (rfr ASX c 31 rc 2011) ri ll i irlii ir 1: yk- rjc Lci l ir 2: yk- rjc l ic Alyicl Sil fc f xlri rilli b ki rc, lr f fiv iifi rc yk- ki i 12k l, 2k i li 500 fr ril rily li rily li lik yk- r r f i-nir x l 465k f rck i r crl f rily cy i r Oc ( O ) r f i-nir i f Afric lr r r jr rr b fr rl W Afric xii r vl by OILOG, rc rcr crc yk rily y, rr 3 f r b 1962 1991 r f i-nir i crll r by r Ariy f i-nir ( AN ), iy Eqril i ii cc iiil ri yk- by ilii rily li xri r r xii r f i-nir rci i r icr i y ill k cllbr i r blk ciy rcr i vl f fr lr cl ril r li 3
i b i b R c i c r i l r i S b I R y c b ic c r ic rill SO RO y b ck r c c i li x i O OJ k r k c b i - xi i O, J k I r I c b c I - i c JE r i I i i I cr cl r i i cl E - ri i i r r iz i i i ri - z S r b i - SO i r b i r r i O if z G r c r i I O, fi z G i i r c GE f i r G E i i Gr b r A i EO i f r bi r if A ll c OL i q i fi i l cc L ji r ir k i r q i i v c LO i i r r k v ~ r- i i vi r v O i v ~2 -b r f z z r v OG l f 20 b r i f z z c i G l f 0 i z l i c i b GY c r i i i z, l i b Y c b r i i f l bl r i ic ( l r r i c I ( i r r l ic k I r l i i r li ck k l f ri l i k i K i K- i b I b r i f c i -f c i b i i bl r l i il c l ck i b-v, r if i r ll i i l k i v, r H r i I i lc ii r ki rc cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r bri i irlii O ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir f irlii ri fr (ribl Hi) r i I i lc ii r cri 2 b i i v r r ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir f irlii ri fr (ribl Hi) r i lc ii r- cri 2 b ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir f irlii ri fr ic r r cri 2 b ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r ir 3 f irlii ri fr ic r r cri 2 b ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r 3: f irlii ri fr ic r r cri 2 b ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r : f irlii ri fr ic r irli z cri 2 b ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z cri 2 b ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr vricl i r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z cri 2 b ric rc cr i ick ~20 ick i i i cri f ll b i ibli i flr, rl i r ic cr c licl ck Wr i vricl i r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z - ick ~20 ick i i i cri f ll b i ibli i flr, rl i r i vricl i r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z ick ~20 ick i i i cri f ll b i ibli i flr, rl i r i vricl i r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z ick ~20 ick i i i cri f ll b i ibli i flr, rl i r i vricl i r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z ick ~20 ick i i i cri f ll b i ibli i flr, rl i r i vricl i rr f I i, i rik brly r cl Scic f irlii ri fr ic r irli z ick ~20 ick i i i cri f ll flr, rl i r i -r r f I i, i rik brly r cl Scic f irlii ri fr ic r irli z 4 ick ~20 ick i i i cri f ll flr, rl i r i r r f I i, i rik brly r cl Scic SO/ ic r irli z 4 ick ~20 ick i i i cri f ll flr, rl i r i r r f I i, i rik brly r cl Scic SO/ ic r irli z ick ~20 ick i i i cri f ll flr, rl i r i r r f I i, i rik brly r cl Scic SO/ ic r irli z ick ~20 ick i i i cri f ll flr, rl i r i r r f I i, i rik brly r cl Scic SO/ ic r irli z ick ~20 ick i i i cri f ll flr, rl i r i r- i ccil i r f I i, i rik brly r cl Scic SO/ ic r irli z ick ~20 ick i i i cri f llic i cri f licl ibl i ccil flr, rl i r i ccil i r f I i, i rik brly r cl Scic SO/ ic r irli z - flr, rl i r i ccil i r f I i, i rik brly r cl Scic SO/ ic r irli z flr, rl i r i ccil i r f I i, i rik brly r cl Scic SO/cllvi ic r irli z flr, rl i r i ccil i r f I i, i rik brly r cl Scic cllvi ic r irli z v rvily b iifi by Eq flr, rl i r i ccil i r f I i, i rik brly r cl Scic cllvi ic r v rvily b iifi by Eq flr, rl i r i ccil i r f I i, i rik brly r cl Scic cllvi rii z (Hr Hi) v rvily b iifi by Eq flr, rl i r i ccil i r f I i, i rik brly r-r cl Scic cllvi rii z (Hr Hi) v rvily b iifi by Eq flr, rl i r i ccil i r cl Scic S cllvi rii z (Hr Hi) v rvily b iifi by Eq flr, rl i r i ccil i r Sci cllvi rii z (Hr Hi) v rvily b iifi by Eq flr, rl i r i ccil i r ci cllvi rii z (Hr Hi) v rvily b iifi by Eq i ccil i r ci cllvi rii z (Hr Hi) v rvily b iifi by Eq i ccil i rr f I i l r ri i r ci cllvi z rii z (Hr Hi) v rvily b iifi by Eq i ccil i - ci z rii z (Hr Hi) v rvily b iifi by Eq i ccil i ci z rii z (Hr Hi) v rvily b iifi by Eq i i ccil i ci z rii z (Hr Hi) v rvily b iifi by Eq i i ccil i z rii z (Hr Hi) v rvily b iifi by Eq i i ccil i -r (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq i i ccil i r (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq i i ccil i r (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq i i ccil i r (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq 4 i i ccil i r- (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq 4 i i ccil i - ri fl (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq brry 2013 i i ccil i ri fl (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq brry 2013 i i ccil i ri fl (llvil Hi) rii z (Hr Hi) i v rvily b iifi by Eq brry 2013 i ccil i ri fl (llvil Hi) rii z (Hr Hi) i v rvily b iifi by Eq brry 2013, i/ri i ccil i ri fl (llvil Hi) rii z (Hr Hi) i ir v rvily b iifi by Eq brry 2013, i/ri i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir v rvily b iifi by Eq brry 2013, i/ri -r i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir v rvily b iifi by Eq brry 2013, i/ri r i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir v rvily b iifi by Eq brry 2013, i/ri r i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir v rvily b iifi by Eq brry 2013, i/ri ri qrz, K i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir v rvily b iifi by Eq brry 2013, i/ri i qrz, K i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir v rvily b iifi by Eq brry 2013, i/ri i qrz, K i ccil i ri fl (llvil Hi) rii z (Hr Hi) ir 3 v rvily b iifi by Eq ifi ccri ly llry ribl Hi, Hr Hi, llvi, i brry 2013, i/ri i qrz, K i ccil i ri fl (llvil Hi) rii z (Hr Hi) 3 v rvily b iifi by Eq - v brry 2013, i/ri i qrz, K i ccil i cqc f ri iri ri fl (llvil Hi) rii z (Hr Hi) v rvily b iifi by Eq v brry 2013, i/ri i qrz, K - ri fl ic vrly i Nrr ly v rvily b iifi by Eq v brry 2013, i/ri rjc r i qrz, K ri fl ic vrly i Nrr ly v rvily b iifi by Eq v, i/ri rjc r i qrz, K ri fl ic vrly i Nrr ly v rvily b iifi by Eq v, i/ri rjc r i qrz, K ri fl ic vrly i Nrr ly v rvily b iifi by Eq v, i/ri rjc r i qrz, K ri fl ic vrly xiiz Nrr ly v rvily b iifi by Eqril v - ri, i/ri rjc r i qrz, K - O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r i qrz, K O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r i qrz, K O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r i qrz, K- O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r -flr, O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r flr, O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r flr, O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r flr, O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r flr, O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r flr, O ic vrly xiiz Nrr ly ril v ri, i/ri rjc r flr, O ri, i/ri rjc r flr, O ri, i/ri rjc r flr, O
4 brry 2013 INERAL ESIAE i RE - b rr by i cl SA 1 brry 2013 rr i ccrc i JOR (2004) Rrc l Iic Ifrr l Iic + Ifrr ril y yk- Ir rjc irl Rrc Ei - brry 2013 () r r SiO 2 r Al 2 O 3 r LOI r S r I-Si ry lk iy llvil Hi 122 483 0066 158 82 60 004 265 ribl Hi 73 427 0067 335 27 21 002 280 Hr Hi 57 385 0060 409 17 11 001 297 i I 14 351 0063 442 22-07 006 320 Sb-l 266 440 0065 275 50 35 003 278 llvil Hi 320 423 0070 203 101 81 008 265 ribl Hi 329 377 0066 352 59 44 005 280 Hr Hi 116 358 0064 428 31 19 008 297 i I 6636 306 0056 474 31-03 015 320 Sb-l 7402 315 0057 456 36 03 014 315 llvil Hi 442 439 0069 190 96 75 007 265 ribl Hi 402 386 0066 349 53 40 004 280 Hr Hi 174 367 0063 422 26 16 006 297 Hi Sb-l 1018 406 0067 292 67 51 006 276 i I 6650 306 0056 474 31-03 015 320 l Iic Ifrr 7668 319 0057 450 36 04 014 313 * -ff r i bri I rr 15% c-ff r bl 3: l Rrc bl rilli fr RE ci f 383 l fr 43,773 f i cr R rilli All l r rill ri ri y 2011 cbr 2012 Arxily 28% f l rilli r r i cr vr l 114 i l bi 3882 il y l l i 2 Sl r lyz by SGS Lbrri i r, Vri Lbrry (Ulr rc) i r, r SGS Jbr i X Ry lrcc (XR) r i L f Iii ( LOI ) r rviric lyi All rill l cllc r i iil fr i rri vlii cck r iriy f b Qliy rc qliy crl ( QA/Q ) ciq r li r ll Eqril ri, bi vr f fiv r r r l bi lbrry vr f fiv lic k r r l Sl rri cr iz i i crri ily lbrry ir li i l rily crri All QA/Q r b f i qliy iy r v b clcl fr i cr, i fr llricl l Avr blk ii r i rrc l rck y 5
4 brry 2013 INERAL ESIAE (i) rill cllr r rvy by iffril GS, l rvy r cl i rflx yrc, i lil vii jriy f rill l r cllr iclii f -60 r rii f l i vribl rl licl irri f rik i f I riz i ir 4 l vi f rill l cllr i RE ir 4: rill llr Lci Eqril rvi SA i 3 ir fr vl rri vri ir i i, ly llvil Hi, ribl Hi, Hr Hi fr i bri I I ii iil rri l ( ) f ry ri bri r rvi SA rvi Eqril irri i l ly cicl y S lri r ir fr A vl blck l crc i i, i ril y irfr fii cllvi, i, I i, r i rfc rri ry ri rfil Gr ii f,, SiO2, Al2O3, LOI_1000, S, io2, K2O, N2O O cl i Oriry Krii ( OK ) b vriry riv fr Rrc clifici r ri by cbii f OK ii cfic (ri fr rri l vl), l rc br cbi i licl cfic rill l ci RE b clifi i rr Iic Ifrr b ili cifi i JOR c (2004) 6
4 brry 2013 HEAIE S Hi Rrc f 102 illi f llvil Hi, ribl Hi, Hr Hi ill rvi rrc b fr Eqril fibiliy i iiil rci yk- Ir rjc Hi irl Rrc Ei brry 2013 Rrc l Iic Ifrr l Iic + Ifrr ril y () r r SiO 2 r Al 2 O 3 r LOI r S r I-Si ry lk iy llvilhi 122 483 0066 158 82 60 004 265 ribl Hi 73 427 0067 335 27 21 002 280 Hr Hi 57 385 0060 409 17 11 001 297 Sb-l 252 445 0065 266 51 37 003 277 llvil Hi 320 423 0070 203 101 81 008 265 ribl Hi 329 377 0066 352 59 44 005 280 Hr Hi 116 358 0064 428 31 19 008 297 Sb-l 766 393 0067 301 72 56 007 276 llvil Hi 442 439 0069 190 96 75 007 265 ribl Hi 402 386 0066 349 53 40 004 280 Hr Hi 174 367 0063 422 26 16 006 297 l Iic Ifrr 1018 406 0067 292 67 51 006 276 * -ff r EALLURGY bl 4: Hi Rrc bl Eqril llricl i rr i bi cc r rvii f y if llricl l ily xric ir r llri r J l il llricl rk i r f rrc fiii rk b rvily rr ASX fr c f llvil Hi, ribl Hi Hr Hi ril y (rfr ASX c 26 Aril 2012 16 Ocbr 2012 fr il) ll vi b Rcvry ( R ) rl fr I (rfr ASX c 24 Aril 2012 fr il) llricl i f ril y icl: llvil Hi ribl Hi: Ur fr 505% bl r ri 641% i r fi rc 607% rcvry; ril y r r i il rc f cri, crbbi cri rviy rci i yicl ilbr i circi; vr r f 505% i cl iic irl rrc r f 483% ; rl r ci i rvily c ri rl (rfr ASX c 26 Aril 2012 fr il) fr llvil irlii i 634% rc r i l irii 61% rcvry fr 510% r; 7
4 brry 2013 EALLURGY (i) Oi llricl i i i rc f blii vrll rcvry fr llvi ribl Hi ril y ri 63-64% rc r Hr Hi (riil): l r r i il cri-rviy rc i i vr r f 408% iv rc i 642%, 62% ilic 065% li rcvry f 332%; Oi rk ir rcvry rc r cl l b bi fr r i r ic ri-rviy rc i crrly r fr I r i I: R rl v b rr rvily ASX fr fr i I irci rill yk- fll; 82 fr 141 vr rcvry f 495% ccr ccr r f 686%, 41% ilic 014% li fr l K002; 50 fr 93 vr rcvry f 502% ccr ccr r f 694%, 32% ilic 006% li fr l K005; Ovrll vr fr l f 363% r i vr R f 498% ccr ccr r f 689%, 37% ilic 011% li by i rlivly cr ri iz f 80% i 63 icr (µ) il ic ri; vr R r f 363% i cl l iic ifrr irl rrc r f 306% fr fr i I ARGE ROU SEIIAIONS llricl ri rk rc qliy vl rk i cii i i i rc fl il rc ll r y fr yk- rc ri ir rc ri bv 63% i l irii i i vrll rcvry fil fl ill fr r f vl rc ii Sci Sy ic ill rly rci fr ll ir r llvi ribl Hi irlii ll i r rci fr lr r i lr r fr r i rlyi i I il f Eqril r rc cifici fr ir rc fr yk- r r i bl 2 (bv 2) ON-GOING EXLORAION i rrc i cri lrly fr rilli crri ki rc yk- Rrc r i i ir 5 (bl 9) Eqril cc vry lii rilli r fr r rc rjc; Lk W, vi, bi Lbl iiil yicl rvy, bq -r rcic rk, lii rilli rc iic il fr iific rrc ivry r vr i frr rilli i cl rilli ly cvr rxily 16k f l 46k f iifi ic rik 8
4 brry 2013 ON-GOING EXLORAION (i) SOING SUY ir 5: yk- rjc l ic Alyicl Sil Si Rrc Ar Eqril fibiliy i - r bi cc r rvii f y rjc r -, r Rir rir r f c ric Iril Srvic (y) L ( IS ) r rir IS v r rck rcr i f ll c f i-i fibiliy IS i ir r rvily ivlv i i ciii f jr fcilii f rc l Gr Lii lbrk l ll fibiliy i fr Ryl Rrc Lii Rzrkbck Ir rjc i Arli, AUROX ( r Rrc) ll ll Ir rjc i Arli rr rc li i rjc i S Afric Sci Sy ill icrr iiil RE i y cl fibiliy rk ill ivi r f ri, rcii biliy cc ri i xii ril r ifrrcr rvic rjc, ill ll fr icrl iv icr cciy vr i Ril ri 2011, Eqril rk i O cl iiil rily iri y y cii R&H Rily l (y) L ( R&H ) fr S Afric cc criicl rvi f y i Ori lri lii ky rr fr crcil blk ciy rr fr yk i-nir i rk ll Eqril Ril Si r, r J ric, rr il Rily ibiliy Sy r ric cirbl xric i blk ciy rily vi rv rvily H 9
4 brry 2013 SOING SUY (i) f Ril rc l Gr L Afric irl L il Rily ibiliy Sy cl i cbr 2012 i b r f ril ri rvici yk- ri rc ri f rr i i RO, Eqril r iiil fii fr i ril y RO vr fii crii f Eqril vl l, ll Eqril cc ii f crcil crc fr f rily r Ur OU b Eqril RO r riy f i-nir ( AN ) i i brry 2011, ri ci cli f fibiliy y fr f r fr xr f ir r A f ir fr rry & Rbr i cjci i ril li cili cc Eiri, b fr S Afric, cl Eqril r ibiliy Sy ic iifi br f il r li xii r f i-nir ll lr r, lrr cl li i-ii Sbq i y, Eqril rjc cl frr i icli v y; ri y vri i f bri, r ffr r, rclii i li; rrfi f r r ly; il f r vl c A rc ri f rr i i RO, Eqril ic rl f cl i, fci y iiil l vl ll cl ir r xr fcilii i bil li qi xii r f i-nir AN r Eqril l 1 rr ri cl b ibl xii r r rk i Eqril iify ibl r fr vl, bri li ccii, fi il crcil r AN r i Eqril i ii i r xii r bi rqir r c Eqril ri cfi fcilii xii r f i-nir ill r y l fr iiil xr ri Eqril, l i Xr Exxr r rki i RO vr l fr vl f lr cl blk ciy r i-ii ic ill rvi l r li fr lr cl blk ciy xr fr ri ii rci RE ill b icrr i i rc iri i - i fl i blc fr i circi r ll vc r rvii f r J l Orly (y) L r filii ly i ll i l r fr 1 i ri r clcli ri cil c i f rqir i fl IS l (y) L v cc 3 lli f qi i rci circi All c f Sci Sy r xc b fili bli by i 2013 r frr ifri cc: J Wlbr i ircr & EO l466 5030 Eil: if@qrilrrcc Wb: qrilrrcc r l fr Eqril, bcrib r il blli rvic vi r bi ://qrilrrcc/ily/ix/bcrib 10
4 brry 2013 AOU EQUAORIAL S Eqril Rrc Lii (), i fc xlri vl f 100% illy lr-cl ir r rjc lc i liiclly bl iv frily Rblic f ( RO ) i ri lbl ir r rvic f rl W Afric yk- Ir rjc, lc i ri f RO, crrly Hi Rrc f 102 illi 406% r f iiil l Iic Ifrr Rrc f 767 illi 319% Ovrll rjc i lbl xlri r f b 23 39 billi 1 f ir irlii r f 30% 65% rjc cc ril li ri ircly -r r f i-nir, r y iiriv ffic i lc Ir rjc, i r ri f RO, i lbl xlri r f b 13 22 billi 1 f ir irlii r f 30% 65% rjc i lc ii ril clr f rl-cl ir r xlri rjc icli Sc Rrc bl Nbb rjc r frr ifri cc: J Wlbr i ircr & EO l466 5030 Eil: if@qrilrrcc Wb: qrilrrcc 1 Exlri r: i f xlri r iz i i i c l b ir r icr i f irl Rrc il qiy r f xlri r r ccl i r r b iffici xlri fi irl Rrc i ccrc i JOR (2004) ili rrr, i i cri if frr xlri ill rl i rii f irl Rrc ifri i i rr rl Exlri Rl, r llricl Rl Gyicl Exlri Rl, i b ifri cil by r rk Glck, i br f Arli Ii f ii llry r Glck i fll i ly f Eqril Rrc Lii r Glck ffici xric, ic i rlv yl f irlii y f i r ciri civiy, ic i rki qlify r fi i 2004 Eii f Arli fr Rri f Exlri Rl, irl Rrc Or Rrv r Glck c icli i rr f r b i ifri i fr cx i ic i r ifri i i rr rl llricl Rl i b ifri cil by r J l i ll f Arli Ii f ii llry r l i cl Eqril Rrc Lii r l ffici xric, ic i rlv yl f irlii y f i r ciri civiy, ic i rki qlify r fi i 2004 Eii f Arli fr Rri f Exlri Rl, irl Rrc Or Rrv r l c icli i rr f r b i ifri i fr cx i ic i r ifri i i c rl i-i irl Rrc i b ifri cil by lcl ily f SA Glbl UK L lcl ily k vrll ribiliy fr Rr H i br f Arli Ii f Gcii ( AIG ) Arli Ii f ii llry ( AI ) ffici xric, ic i rlv yl f irlizi y f i r ciri, civiy i rki, qlify r i r f Arli fr Rri f Exlri Rl, irl Rrc Or Rrv (JOR 2004 Eii) lcl ily c icli f c ifri i i Rr i fr cx i ic i r ifri i i c rl Gyicl Exlri Rl i b ifri cil by r r (ASc (Gyic) H) f Rrc il y L, by Eqril Rrc Lii rvi yicl cli rvic r r i br f Arli Ii f Gcii ffici xric ic i rlv yl f irlizi y f i r ciri civiy ic i rki qlify r fi i 2004 Eii f Arli fr Rri f Exlri Rl, irl Rrc Or Rrv r r c icli i rr f r b i ifri i fr cx i ic i r 11