ASX: MAK | TSX: MAKCliff LawrensonManaging Director

2013 Annual General Meeting

Corporate Snapshot

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Ordinary shares on issue 247.5m

Share price A$0.16

Market capitalisation A$40m

Debt Nil

Cash – 30 September 2013 A$26.6m

Enterprise value A$13.4m

Wonarah Project, NT 100%

JDCPhosphate Inc 6.5%

Australian Minerals & Mining (ASX:AKA) 4.6%

Niuminco Ltd (ASX:NIU) 3.6%

Vulcan Phosphate 5.6%

Laguna Bay 4.6%

RICHARD (DICK) BLOCK - Non Executive ChairmanDick Block is a US based mining and processing industryexecutive with four decades experience in the fertiliser, base andprecious metal sectors.

CLIFF LAWRENSON - Managing DirectorCliff Lawrenson joined Minemakers in May 2012. He waspreviously CEO of FerrAus Ltd which he led to a recommendedtakeover by Atlas Iron Ltd. From 2006 Mr Lawrenson was GroupCEO of GRD Ltd which incorporated GRD Minproc Ltd,OceanaGold Ltd and Global Renewables.

RICHARD O’SHANNASSY - Non Executive DirectorRichard O'Shannassy is a commercial lawyer with over 30 yearsexperience in the mining and energy sectors.

IAN McCUBBING - Non Executive DirectorIan McCubbing is a Chartered Accountant with more than 25 yearscorporate experience, principally in the areas of corporate financeand M&A, working predominantly with ASX listed companies.

BOARD OF DIRECTORSKEY STATISTICS

ASSETS

SIGNIFICANT SHAREHOLDERS

3

Where are we now?

Completed Q2 2013: Strategic cornerstone investment from Vulcan Phosphate Completed Q2 2013: NT Government grant environmental approval for IHPProgressing Q4 2013: Optimisation IHP technology post commissioning Florida plant

Progressing: Advancing validation of JDCP’s IHP technology & superphosphoric acid (SPA)Progressing: Feasibility study for integrated mining & processing at WonarahProgressing: Investigation of complementary IHP & SPA related opportunities

Progressing: Finance & Construction of IHP plantsProgressing: Market development for added value SPA acid derived products Progressing: Production of SPA

Strategic Outcome

Phosphorus (P) is essential for the existence of life and is present in every living cell. As a ‘staplemolecule for life’ it is consumed by plants and animals daily. Rock phosphate contains essential P as aphosphate compound that is extracted as phosphorus pentoxide (P2O5) for commercial applications.

Phosphorus – An Essential Element

4Source 1Stephen Jasinski, US Geological Survey, January 2013Source 2 How to Feed the World in 2050, FAO, 2009

5.25.9

14.717.7

20102020

E. ASIA +20.4%

1.220102020

OCEANIA +41.6%

1.7

20102020

S. ASIA +11%

9.110.1

20102020

L. AMERICA +47%

96.1

20102020

EUROPE +10.2%

4.95.4

45.7 Million Tonnes P2O520102020

WORLD +21.6%

World Phosphate Demand by 2020Forecast by Region (MT P2O5)

20102020

N. AMERICA +13%

5.25.9

Source: A Global Perspective on the Resources and Future Supply of Phosphorus for Agriculture, Lars Stoumann Jensen, May 2012

55.6 Million Tonnes P2O5

No Substitute There are no other substitutes for phosphate. It is

an irreplaceable finite resourceEssential Role in Sustaining Life Phosphate is responsible for ATP intracellular

energy transfer - “molecular unit of currency” Phosphate make up the backbone of DNA, RNA, &

phospholipids Phosphate groups are essential to cellular

communication Cell membranes are made of a phosphate group,

glycerol, & two fatty acid chainsFinite Resource The MENA region holds 85% of the world reserves

of rock phosphate1

Australia has a significant untapped resource of high grade rock phosphate with low contamination

Phosphate Food Security Modern agriculture is reliant on phosphate derived

fertilisers to sustain 40% of world food production To feed a larger and more urban global population,

world food production must increase 70% by 20502

Global nutrient sales to reach 255m tonnes by 2017

Fertiliser industry is investing US$150bn between 2012 and 2017 to fulfil global demand

55 to 85% of all soils are deficient in NPK

The share of phosphate fertilisers based on phosphoric acid rose from 75% in 2000 to 89% in 2012

Global demand for phosphoric acid will reach 46.5 million tonnes by 2017 (39.8m tonnes for fertiliser)

In 2015, the global fertiliser market is forecast to have a value of US$172bn, an increase of 32% since 2010

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World Fertiliser Facts NPK – Macro Nutrient Basics

Top Ten N-P-K Consumers 2011/12 (‘000 metric nutrient tonnes per year)

Rank N P2O5 K2O1 China 34,084 China 11,500 China 5,2002 India 17,398 India 8,336 United States 4,4363 United States 11,884 United States 4,001 Brazil 4,4314 Brazil 3,366 Brazil 3,859 India 3,6245 Pakistan 3,129 Australia 873 France 5466 Indonesia 3,123 Canada 733 Poland 4787 Canada 2,160 Argentina 700 Bangladesh 4688 France 2,087 Bangladesh 689 Thailand 4579 Germany 1,721 Pakistan 621 Syria 43310 Russia 1,600 Indonesia 580 Germany 400Rest 27,149 9,183 8,923World 107,699 41,075 29,396

Phosphate23%

Potash16%

Nitrogen61%

N P

K178 MillionTonnes / Yr

Source: International Fertilizer Industry Association Statistics 2011/12

Nitrogen (N) - fulfils plant’s yield potential Converted to amino acids as the building block for protein Produced from gas, coal & renewable energy

Phosphorus (P) - creates plant’s yield potential Backbone of DNA & RNA critical throughout plant lifecycle Produced from sedimentary deposits rich in phosphate

Potassium (K) – controls movement of key inputs Increases use of water, protein, nutrients & carbohydrates Produced from ash, sedimentary salts & sea water

Why Fertiliser?

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100% owned by Minemakers

Australia’s largest JORC and NI43-101 compliant phosphate resource

Measured + Indicated Resource 300Mt @ 18.2% P2O5

Inferred Resource 542Mt @ 18.0% P2O5 (10% cut-off)

Only 15% of known phosphate currently drilled to enable a resource estimate

NT Major Project Status awarded

Excellent installed infrastructure• Abundant water available on site

• Natural gas at Tennant Creek

• Barkly highway (bitumen) to Tennant Creek

• From Tennant Creek; rail north to Darwin for export or South to access domestic fertiliser markets

• Darwin import facilities available for raw materials

Mining Agreement with Traditional Owners in place

NT EPA has approved Mining Management Plan assessment process for IHP operations.

No further environmental approvals required

Good levels of interest from 3rd party funding providers

Wonarah Project – Northern Territory, Australia

Wonarah Project Opportunity

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Significant competitive advantage via exclusive rights to the Improved Hard Process (IHP) technology, currently in final validation by JDCPhosphate

Feasibility Study (FS) focusing on utilising IHP, with completion expected H2 2014

Fully funded for FS through to Financial Investment Decision (FID)

Simple open cast mining

Transport cost sensitivities mitigated by on-site production of high-value superphosphoric acid (SPA)

Lower initial capex requirements utilising IHP technology

Plant commissioning expected late 2015 early 2016 once FS completed

Resources (10% Cut-off)

Category Mt %P2O5

Measured 78 20.8

Indicated 222 17.5

Inferred 542 18

Resources (5% Cut-off)

Category Mt %P2O5

Measured 82 20.2

Indicated 391 13.2

Inferred 933 13

MODELLED PALAEOSURFACE AT WONARAH AT THE TIME OF PHOSPHATE DEPOSITION, SHOWING

DRILLING AND TENURE

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Infrastructure Advantage – Built and Available

East Arm Bulk Facility - Port of Darwin

Barkly Highway

Adelaide – Darwin Rail

Gas Pipeline

The Phosphate Product & Value Chain

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0%

10%

20%

30%

40%

50%

60%

70%

80%

Perc

enta

ge P

2O5 C

onte

nt

Rock Phosphate

Direct application Fertiliser

Primary downstream feed

SSP / TSP

Pasture Fertiliser

Inputs - Rock Phosphate & MGA

DAP / MAP

Crop Fertiliser

Inputs - Rock Phosphate & Sulphuric Acid & Ammonia

SPA

Premium intermediate product

Liquid fertilisers, phosphorus food products & chemicals

DAP/MAP

Inputs - Rock Phosphate, Silica & Pet Coke

Selli

ng P

rice

FOB

Mor

occo

(US$

)MGA

Intermediate Product

Inputs - Rock Phosphate and Sulphuric Acid

Minemakers Target Market

SPP

TSP

Single superphosphateTriple superphosphate

DAP

MAP

Diammonium PhosphateMono Ammonium Phosphate

MGA

SPA

Merchant Grade PhosacidSuperphosphoric Acid

Current Price FOB Morocco: Rock Phosphate - US$140 - 150/tonneSuperphosphoric Acid US$1,000 - 1,500/tonne

150

1,200

Wet Acid Process (WAP) vs Improved Hard Process (IHP)

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IMPROVED HARD PROCESS (IHP)

Mining

Beneficiation to 15-20% P2O5

Blended with pet coke and silica

Roasting in ported rotary kiln driving off a phosphorus rich P4O10 gas

Hydration process – to produce more concentrated solution – superphosphoric acid (SPA) contained ~70% P2O5

Used directly or blended according to application

By-product - low environmental impact and inert J-Rox (spent pellets) used as cement additive or aggregate

Mining

Beneficiation to 30% P2O5

Sulphuric acid introduced to produce phosphoric acid

Filtration to remove phosphogypsum

Dilute phosphoric acid passed through condenser to produce Merchant Grade Acid (MGA) contained ~54% P2O5

Introduction of ammonia for granulation or further processing purification to 68% P2O5

By-product - environmentally challenging phosphogypsum with no commercial value

Landfilled phosphogypsum require management long after end of plant life

TRADITIONAL WET ACID PROCESS (WAP)

IHP produces higher value SPA off a lower capex base with improved environmental credentials

vs

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Phosphoric Acid Value Chain

Processing Technologies Application

GRANULAR FERTILISERS

ELEC

TRIC

AR

C P

RO

CES

S

WET

AC

ID P

RO

CES

SFU

RTH

ER M

GA

PUR

IFIC

ATIO

N

20TH CENTURYTECHNOLOGY

21ST CENTURYTECHNOLOGY

IMPR

OVE

D H

AR

D P

RO

CES

S

RO

CK

DIRECT APPLICATION FERTILISERS

LIQUID FERTILISERS

FOOD INDUSTRY

CATALYSTS

$1,5

00 /m

t P2O

5$1

,000

/mt P

2O5

$500

/mt P

2O5

• Alkali Phosphates - cleaning & detergent• Catalysts - aluminum phosphate catalysts• Cheese & Beverages - acidulant• Fats & Oils - Emulsifier & degumming

agent for vegetable oil purification

Technical & Food Grade Acid – 70%

Superphosphoric Acid – 68%• 10-34-0 liquid APP fertiliser• Direct foliar feed• STPP• Waste sludge treatment• Metal finishing • Bioremediation – lead

Phosphoric Acid – 45%• DAP 18-46-0• MAP 11-52-0• TSP 0-20-0• SSP 0-8-0

Acid Grade Value Insteps

IHP – Batch Testing using Wonarah Feedstock

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Rotary Furnace

Hydrator

Pelletising

Dried Pellets

Mixing

Trial Mining

J-Rox Pellets

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Florida Demonstration Plant – The Road to Production

March 2012 September 2012 January 2013 March 2013

Commercial Scale Demonstration Plant Wonarah IHP Line

July 2013 October 2013July 2013 September 2013

Wonarah Indicative Timetable

Item 2012 2013 2014 2015 2016JDCP Partnering Process

Beneficiation Testwork

JDCP Demonstration Plant Construction

JDCP Plant Optimisation

Wonarah FS

Financing/FID

Construction of Wonarah (1st Phase)

SPA Production

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Phosphate – an irreplaceable commodity of strategic importance

Vital for ensuring long term food production security Strategic location in a politically stable environment Australia has the opportunity to become Asia’s food bowl

Wonarah is a world class asset with a clear route to profitable production via IHP technology

100% ownership of Wonarah Exclusive access to IHP technology Producing high value SPA reduces sensitivity to transport and logistical

costs

Significant cash-backingwith low cash burn; supportive expert investor

Strong cash position Sufficient funding to complete FS in 2H 2014 Cash burn minimised Vulcan Phosphates, expert fertiliser investor, 5.7% holding in MAK

Investment Rationale

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Level 2, 34 Colin Street, West Perth Western Australia 6005Ph: +61 (0)8 9264 7000 Fax: +61 (0)8 9264 7099

TSX: MAKASX: MAKNSX: MMS

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