Morella Corp Ltd (ALTAF)

[Etailer]

I forgot the plans to double the output. If they could get to 440,000 tons
this would go gangbusters.

• Scoping Study confirms duplicating the size of production plant to double output is
best expansion option
• Definitive Feasibility Study is underway to examine doubling of capacity to 440,000
tpa
• Minimal disruption expected to Stage 1 plant operations
• Mine life to remain greater than 10 years
• First production from duplicated plant expected 17 months after investment decision
has been made
• 17 month timeframe can be brought forward by using the design and majority of
parameters from existing project, and early ordering of long lead time items
• Further mine resource extension drilling is planned for 2018 with the overall aim to
prove up additional resources and increase mine life