The Mozambique Gold & Precious Metals Trading Company is the sole government authorised collector and exporter of all precious metals and gems mined by the ASM sector, including coal, graphite, gold, diamonds and gems.

1. INVESTMENT OPPORTUNITY IN ICHOR HOLDINGS
Exclusive Partner with Mozambique Government in MGPMTC
Strictly Private & Confidential: Time Sensitive Information
This Teaser (“document”) has been prepared by Ichor Holdings (“the Company”) from privately available information. By receiving this document, the
recipient acknowledges that (i) the recipient will not copy, reproduce or distribute this document, whether in full or in part, at any time to third parties
without the prior written consent of the Company, (ii) the recipient will keep confidential any information included herein which is not already in the
public domain, (iii) the recipient will use this document for the sole purpose of evaluating its interest in the proposed investment. While the
information, financial analysis and projections contained in this document are provisional and based on sources believed to be reliable, the Company
cannot independently verify the contents of this document. Accordingly, no representation or warranty, express or implied, is made as to, and no
reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this document.
Neither the Company or its affiliates, directors, members or employees shall have any liability whatsoever (in negligence or otherwise) for any loss
howsoever arising from any use of this document or its contents. The recipient agrees that unless and until a definitive investment agreement
regarding the project has been executed, the Company shall not be under any legal obligation of any kind whatsoever with respect to the project. The
recipient further acknowledges and agrees that the Company reserves the right, in its sole discretion, to reject any and all proposals made by the
recipient with regard to the project and to terminate discussions and negotiations with the recipient at any time.
The baobab is a well-known Mozambican tree and
perfectly represents MGPMTC’s business in
aggregating and assisting small scale miners, to be
represented through a strong, single marketing
entity.

2. Ichor Holdings (“ICHOR”) is a limited liability holding company
incorporating in Mauritius and the majority shareholder of the
recently formed Mozambique Gems & Precious Metals Trading
Company (“MGPMTC”). ICHOR is 100% held by Garth
Gaenssler. EMEM is the state-owned Mozambican Mining &
Exploration Company.
Further to dividend entitlements, ICHOR is entitled to a 3%
gross management fee from MGPMTC, and EMEM a 2% fee.
ICHOR is the general operational partner whilst EMEM
provides government backup and support.
60% 40%
EXECUTIVE SUMMARY & KEY FINANCIAL
HIGHLIGHTS
The Mozambique Gems & Precious Metals Trading Company is the
sole government authorised collector and exporter of all precious
metals and gems mined by Artisanal and Small Scale Miners (“ASM”)
within Mozambique. This includes gold, platinum, diamonds, rubies,
coal and graphite, excluding oil and gas. The MGPMTC is registered
and holds all licenses and documentation to commence operations.
2020 2021 2022 2023 2024 2025
MGPMTC Gross Revenues 134 707 202 061 269 414 336 768 404 122 404 122
MGPMTC EBITDA 14 042 22 434 32 946 41 230 49 456 49 263
ICHOR Nominal Cash Flows 11 190 15 741 21 984 27 838 33 596 34 209
Sustainable Ops
USD '000
63 740 983 ICHOR Enterprise Value (Controlling, Marketable)
15.00% -9 561 147 less: Minority Discount
20.00% -12 748 197 less: Marketability Discount
41 431 639 ICHOR Enterprise Value (Non-Controlling, Non Marketable)
15.00% 6 214 746 Investor Value
A 15% equity stake in ICHOR is conservatively valued at over $6m,
based on a WACC of 18.4%.

3. OPERATIONAL PHASES & INVESTMENT SOUGHT
Pre-Ops
MGPMTC is currently in-field with the assistance of EMEM personnel. We are
conducting site surveys and initial gold transactions, to refine our operations model.
We will shortly be setting up our first aggregation in Manica province.
Initial Hub
Ops
During 2019 we will reach full operational capacity with one hub, and further refine
and develop our business. We will be sourcing from 5 deal sites and processing
circa 780 kg of doré gold bars.
Sustainable
Ops
Over the next five years we will expand to 6 operational hubs and source from over
30 deal sites. We expect to be processing upwards of 22 tons of gold.
Further upside exists in aggregating commodities other than gold, as well as being
able to mine the residual deposits after ASM’s have left the area. The financial
analysis in this document is based only on conservative aggregation of ASM gold
miners.
1st Tranche: $1m
 MGPMTC Gold Off-
Take Facility; or
 MGPMTC Senior
Debt Facility
Concluded before end
Dec 2018
2nd Tranche: $6m
 MGPMTC Gold Off-
Take Facility; or
 MGPMTC Senior
Debt Facility; or
 ICHOR Convertible
Debt Facility; or
 ICHOR Equity
Concluded before end
Jun 2019
As our intention is to form a long-term partnership with any investor, our preferred investor profile is an industry player
in the precious metals sector, with either a commodity finance / off-take interest in MGPMTC directly, or an equity
interest in ICHOR itself.

4. KEY ADVANTAGES &
BENEFITS OF
MGPMTC
Formalisation
of Sector
The Mozambican government can now regulate and
collect production taxes from the ASM sector, at the
same time improving health and safety, whilst ensuring
compliance with legislation, including mining and
environmental codes.
Sustainable
Livelihoods
for Miners
MGPMTC can offer higher pricing to ASM’s and ensure
consistency of a reliable marketplace. MGPMTC will
work with licensed ASM’s on training and further
opportunities post reserve depletion.
Reserve
Maximisation
ASM’s typically leave 50% of the in-situ reserves in the
ground. MGPMTC is thus also able to work with large
scale miners to maximise high grade reserve potential,
by utilising MGPMTC’s GIS and geological databases.
International
Compliance
MGPMTC can directly prove the
provenance of its precious metals
and gems, and works with both
OECD and Kimberley process
requirements.
Environmental
Benefits
MGPMTC can help ensure proper
mine rehabilitation, whilst preserving
water and agricultural soils for later
use in sustainable agricultural
practises.

5. Garth
Gaenssler
CEO
MANAGEMENT
& EXPERTISE
As CEO, Garth is responsible for the global strategic direction of the company. Over the past 35
years his vision and business acumen have enabled him to lead and deliver several iconic and
world renowned, multi-billion dollar civil and infrastructure projects across the UK, Hong Kong and
the Middle East. Holding senior consultancy positions, Garth has provided Commercial, Contract
and Technical services to government entities such as Dubai’s RTA on the Dubai Metro and new
airports in Hong Kong, Muscat and Salalah in Oman.
Luís Franco
Macamo
Mozambique
Country
Director
Luis is responsible for fostering internal and external relations and implementing and maintaining the
strategic focus in this region with regard to all operations. With more than 36 year’s commercial
experience, Luís has been instrumental in the development of Mozambique’s Civil and Naval
infrastructure. Working as a liaison between Government and Private Enterprise he has ensured
procurement and delivery of various Public Engineering Construction Projects such as Port &
Airports Construction, rehabilitation and upgrading of roads and infrastructure as well as
development of the Maritime Industry.
Mike Bertolani
COO
Mike is an experienced Engineering Project Manager, Logistics and Quality Control expert. He
gained this experience over the last 35 years in the aviation, construction, heavy industry and
mining industries. Before starting his own successful engineering consulting practise, Mike was
employed by Denel Aviation as COO of the Fixed Wing Product Support Business Unit.
Other Team
Members…
ICHOR and MGPMTC have further contracted expert mining, geological, logistics, trading and
corporate finance skills. These include professionals such as Dianne du Plessis (AngloGold
Ashanti’s African Regional GIS Database Administrator), Bevan Jones (co-founder of globalCOAL
marketplace, commodity trader and corporate finance expert) and Stuart Murray (Asia commodity
representative and sourcing, logistics and supply chain expert), as well as several other local and
international consultants.
As well as assisting the Mozambican
government to regulate and manage
the ASM sector, MGPMTC further
supports the development of local
communities by contributing to a
dedicated Community Development
Fund at each site.

6. A GREAT INVESTMENT OPPORTUNITY AND A
ONCE IN A LIFETIME CHANCE TO MAKE A DIFFERENCE