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Strauss presentation1 2
Strauss presentation1 2
Strauss presentation1 2
Strauss presentation1 2
Strauss presentation1 2
Strauss presentation1 2
Strauss presentation1 2
Strauss presentation1 2
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Strauss presentation1 2

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  • 1. Diamonds – Growth opportunities in mining’s rarest, yet high-demand, commodity 1
  • 2. “FOR THE FIRST TIME SINCE DE BEERS CONSOLIDATED IN 1888, DIAMONDS HAVE BECOME RARE” – Robert Gannicott, CEO Harry Winston 2
  • 3. Major diamond discoveries 3
  • 4. Pipeline of development projects TOTAL ORE RES GRADE CARATS PRICE NAME OWNER LOCATION OPEN (Mt) (cpht) (MMct) ($/ct) REV ($/t) PRODUCTION LIFE (yrs)AK6 Lucara Botswana 2011 72 20 15 162 32 1.3 11BK11 Firestone Botswana 2010 11.1 8.5 10 235 20 0.1 9Bunder Rio Tinto India n/a 37 75 27.6 0 0.7 37DO-27 Peregrine Canada n/a 19.5 94 18.2 51 48 n/aGahcho Kue DB/MPV Canada 2015 36 168 61 134 225 4.5 11Grib AGD/ADC Russia n/a 98 69 67 110 76 4Gope Gem Botswana 2013 105 19.4 20.5 203 39 0.6 30Kao Namakwa Lesotho 2012 186 17.3 12.6 146 25 0.25 25Merlin N Aus Diamonds Australia 30 24 7.1 200 48 0.1Orion/Star Shore Gold Canada 2016 279 12.3 34.4 242 30 1.76 20Renard Stornaway Canada 2015 57 71 41.1 182 129 1.2 25Lace Diamondcorp South Africa 35 40 13.3 120 48 0.4 25Mothae Lucara Lesotho n/a 2.4 549 13Lerala Mantle Diamonds Botswana 10.9 28.3 3.1 55 16 0.4 9Source: Strauss Partners Ltd, Company website / Presentations 4
  • 5. Zimbabwe Production• Legal sales of Marange goods has helped alleviate the supply shortage in certain categories• Only 10-15% of stones are gem value – Reported grade between 65-135cpht – Reported value between $4-6/ct – Revenue therefore no higher than $8.1/t• Costs in the region at other diamond mines range between $10-20/t 5
  • 6. World Supply and Demand Rough DiamondsSources: Chart Rio Tinto November 2010 6
  • 7. Demand growth driven by emerging economies 7
  • 8. Winners of the New Era• Exploration expenditure… – Petra Diamonds discovery KX63 – Mountain Province spin out of Kennedy North – Promoters!• Production/Development – Petra, production target to deliver 150% increase at increasing margins – Stornaway, robust project to enter production in 2015. Who will fund? – Mountain Province, owns 49% of world’s largest and richest development project –on track for production in early 2015DISCLOSURE: Jamie Strauss owns shares, directly or indirectly, in some or all of these stocks 8

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