Products

Two planned concentrates, 382,000 tonnes a year.

Cape Zircon would produce a non-magnetic zircon and rutile concentrate and a crude ilmenite concentrate, both for sale to mineral separation plants and processors.

Non-magnetic zircon and rutile concentrate

Non-magnetic concentrate comprises:

Zircon53.2%

Rutile29.2%

Ilmenite1.4%

Other16.3%

Contained zircon and rutile = 129 ktpa

Would be bagged and exported through the Port of Cape Town.

WOULD EARN 77% OF FORECAST REVENUE

Crude ilmenite concentrate (magnetic)

Magnetic concentrate comprises:

Ilmenite91.6%

Rutile1.5%

Zircon1.0%

Other5.9%

Contained ilmenite = 253 ktpa

Sulfate-grade crude ilmenite. Would be exported in bulk through the Port of Saldanha Bay.

WOULD EARN 23% OF FORECAST REVENUE

Sample trays of heavy mineral concentrate from Cape Zircon drill intervals — Heavy mineral concentrate samples

Heavy mineral concentrate from Cape Zircon drill samples. Bulk samples are being tested for the Pre-Feasibility Study to confirm the product specifications.

Grades are indicative. They come from test work on a 6 t composite bulk sample from a nearby site with similar mineralogy. Bulk samples from Cape Zircon are being tested for the Pre-Feasibility Study.

Pricing basis

Third-party long-term forecasts.

The financial model uses independent long-term product price forecasts as at July 2025, in real US dollars, adjusted for processing, transport and recovery. The forecasts and concentrate prices are in the data room.

Questions

Questions about Cape Zircon's products.

What would Cape Zircon produce?

About 129 ktpa of non-magnetic zircon and rutile concentrate (53.2% zircon, 29.2% rutile) and 253 ktpa of crude ilmenite concentrate, according to the 2025 PEA.

Where would Cape Zircon's products be exported?

Bagged non-magnetic concentrate through the Port of Cape Town and bulk crude ilmenite concentrate through the Port of Saldanha Bay.

Are the product grades confirmed?

Not yet. They are indicative, based on a bulk sample from a nearby site with similar mineralogy. Cape Zircon bulk samples are being tested for the Pre-Feasibility Study.

Data room

Ready for the next phase.

Companies and institutions evaluating an acquisition or partnership can submit an expression of interest to Questco, corporate advisor to the project, for access to the full PEA, the JORC resource report and supporting data.