Sarytogan Graphite Limited

Sarytogan Graphite Limited (ASX:SGA) is developing its namesake giant and exceptionally high-grade graphite deposit (229Mt @ 29% TGC) in Kazakhstan. The European Union has designated the project to be strategic under their Critical Raw Materials Act, one of only 13 projects to achieve this status outside of Europe, and our major shareholder is the European Bank for Reconstruction and Development (EBRD). Two other high net-worth investors round out the top 3 who together own more than half of the issued shares. The project will produce “Micro 90C” concentrate upstream for traditional industrial uses and purified downstream products up to five-nines purity 99.999% C for advanced battery uses. A positive Pre-Feasibility Study settled on a 50,000 tpa development for an initial upstream capex of US$62M, then expanding downstream for a preferred downstream capex of US$256M to deliver an NPV of US$518M with healthy IRRs of more than 33% at each investment stage. Operating costs are the lowest of all ASX peers, and the only non-Chinese project able to compete with Chinese operating costs to provide an economic and reliable supplier of this critical raw material to nearby Europe, the US and beyond. The Definitive Feasibility Study is underway and on track for completion in mid-2026 ahead of construction in 2027. Sarytogan is represented by Managing Director Sean Gregory, seeking meetings with investors, governments, banks and customers.

Management Profile

Sean Gregory, Managing Director

Sean is a seasoned mining executive with more than 25 years experience in minerals exploration, development and mining in Iron Ore, Gold, Lithium, Cobalt, Nickel, and Graphite in Western Australia and abroad. The last 7 years has been at CEO and board level of listed ASX mining companies SGA, KFE, GSN, and BAR. This built on an early career with BHP, MMX and MIN developing iron ore and lithium operations. His practical mining experience is well complemented by a strong academic background including a Bachelor of Science (Hons) in Geology (UWA), MBA (UWA), Advanced Mergers and Acquisitions Program (Melb Uni) and Company Directors Course Award (AICD).

What is your rationale for taking part in 121 Mining Investment?

Sarytogan is looking for cornerstone investors for future equity rasies to finance the completion of the Bankable Feasiblity Study on the project. To date most investors have come from Australia, with the notable exeption of the European Bank for Reconstruction and Development who have entered into a Share Subscription for 17%, A$5M @ a premium of 16c, validating the project, company and management. Sarytogan intends to supply high quality graphite products to the European battery market and therefore is interested in promoting the story to European and UK investors.

What recent news would you like to highlight to investors attending?

• 12 August 2024 - Pre-Feasibility Study Results Quantify Exceptional Returns.
• 9 August 2024 - EBRD Equity Investment
• 3 July 2024 - Baynazar Copper Project

What are your key goals for the next 3, 6 and 12 months?

3 Months

Generate 300kg of product samples for customer and machine vendor testing.

6 Months

BFS to be fully funded and well underway. Copper portfolio to progress to drilling with major JV partner yet to be identified.

12 Months

BFS completion mid 2026.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Market sentiment to battery raw materials. Addressing by exploration exposure to copper, highlighting non-battery uses of Sarytogan Graphite, identifying investors who understnd the longer term thermatic and value proposition.

What do you think makes your company such a compelling investment?

Kazakhstan is an established mining jurisdiction where mining projects are able to be progressed in a sustanable manner for the benefit of the local community and emerging economy. Sarytogan has an established in-country team that is able to rapidly progess the approvals for the Sarytogan Graphite Project and pursue copper exploration in a highly prospective belt with much available land.. The value proposition of a A$17M Market Cap vs A$797 Project NPV vs many peers with smaller, lower quality projects at 5-15x Market Cap.

What are the top 3 key investor takeaways?

1. Sarytogan is the world's highest grade and 2nd largest JORC Graphite Resource able to produce five nines purity for advanced battery use at low cost.

2. Kazakhstan is an established (and emerging) mining jurisdiction.

3. The project is well advanced with a recent PFS quantifying exceptional returns.