SepFluor Limited

Strategic Investor Discussion DocumentJune 2014

2

Appendix 23

Table of Contents1. Introduction 3

2. Key Investment Highlights 7

3. SepFluor’s Requirements 17

4. Transaction rationale and next steps 21

A. Management CVs 24

B. CaF2 specifications 27

Introduction1.

4

SepFluor Presentation TeamLelau Mohuba

Chairman Retired medical practitioner. Joined Boynton Platinum Pty

Limited in 2003 as business development director; assisted with successful listings on TSX, AIM in 2006

Co-founder of the Sephaku Group; currently serves as CEO for SepHold Limited, and as Chairperson for Incubex Minerals, Taung Gold Limited and Miranda Mineral Holdings

Thomas Magauran

CEO

Fast-growth business development specialist and fluorochemical expert with more than 29 years’ experience in management, capital development, mergers and acquisitions, discrete and process manufacturing, high-tech, chemicals, and marketing and sales

Was appointed Executive Manager: Business and Capital Development for SepFluor in March 2013

Previously served as a Director for CHENCO GmbH (fluoro-technology provider), President, SRS and CEO and President, AirQual Corp

Shaun Collyer CFO

Has over 19 years of corporate finance, private equity and executive management experience

Been involved in and closed over 15 deals and has worked with over 20 portfolio companies leading growth and change

Prior to joining SepFluor, was the CIO for Jacana Partners, an African SME private equity fund. Prior to that he worked in private equity in New York with Pegasus Capital Partners and Three Cities Research

Shibe Matjiu Social

Development Manager

Professional social worker with extensive knowledge of andexperience in community related work and corporate socialinvestment in both public and private sectors

Responsible for overseeing the sustainability of the business (social and labour planning as well as corporate social investment)

Has previous experience in capital raises having beenpreviously involved in Boynton Investments (Pty) Ltd’scapital raise initiative

Previously MD, SM2 Social and Training Consultants; Provincial Director, Deaf Federation of South Africa; Director, Boynton Investments (Pty) Ltd; involved in establishment of Disability Desk, Office of the President. Member of SA Women in Mining, NAFCOC, Business Women’s Association

5

Company history

Company overview

Reserve statementNokeng and other projects

Nokeng mine’s reserve Wallmannsthal ore bodies

Source: Company website; Company research

In Mar’12, Sephaku Holdingsunbundled its interest in Sephaku Fluoride Ltd to shareholders, to formSepFluor

Projects locations

South Africa

Africa

Kruidfonteinfluorspar deposit

Welgelegen / Welgevondenfluorspar deposit

Nokeng fluorspardeposit

Fluorochemicalbeneficiation plant

Wallmannsthal fluorspar deposit

Deposit Category Tonnes(‘000)

Contained CaF2 (‘000) CaF2 (%) Category

Outwash Fan Probable - - -Total Probable 3,129.6 1,259.1 42.4Total mineral reserves 12,194.7 3,314.2 27.2

Tonnes(‘000)

Contained CaF2 (‘000) CaF2 (%)

Total Mineral resource 7,935.3 3.13 45.8

In addition to the resource-endowed Nokeng and Wallmannsthal, SepFluor also has additional ore bodies in the form of Kruidfontein, Nokeng: Wilton and Welgelegen / Welgevonden

Incorporated on 26 January 2004 as Coral Lagoon Investments, a wholly-owned subsidiary of Sephaku Holdings Limited for purposes of acquiring and developing fluorspar assets.

Name was changed to Sephaku Exploration Holdings (Pty) Ltd on 21 May 2004

Nokeng Concept Study completed by SRK Consulting

Name changed to Sephaku Fluoride(Pty) Ltd

2004 2009 2010 2012

On 31 May 2010 it was changed to a public company, Sephaku Fluoride Ltd

On 16 April 2013 the Company’s namewas changed to SepFluor Ltd

Nokeng and SepChem receive all final approvals

2013

SepFluor was unbundled from Sephaku Holdings Ltd on 26 March 2012 and became a separate independent Company

Wallmannsthal follow up drilling of 17 boreholes yieldspositive results

Plattekop Proven - - - Measured 4,260.0 3.10 43.7

Outwash Fan Proven 9,065.1 2,055.1 22.7Total Proven 9,065.1 2,055.1 22.7 Indicated 2,985.3 3.14 46.7

Inferred 690.0 3.19 52.5Plattekop Probable 3,129.6 1,259.1 42.4

A unique and attractive investment opportunity in a company that is building a sustainable, world-class vertically-integrated fluorochemicals company supported by a management team with technical depth and a proven track record of delivery

6

SepFluor Limited (“SepFluor” or the “Company”)Key Investment Highlights

SepFluor is building asustainable, world-class vertically-integrated fluorochemicals company in South Africa Phase I plans for steady state

production of c.280,000 tpaacidspar, 57,000 tpa metspar, 60,000 tpa AHF,216,000 CaSO4 and 60,000tpa AIF3

SepFluor is looking to introduce a strategic or financial partner to take theCompany throughconstruction in order to become one of the worlds lowest cost producers SepFluor would therefore

like to discuss with you the Company’s financingstrategy to potentially explore opportunities of working together to build asustainable and profitableworld-class vertically-integrated fluorspar company

1 Strong market fundamentals

Calcium fluoride (“CaF2“) is a critical commodity for all industrializednations Included in the USA’s top 5 and the European Union’s list of 14

most critical minerals Global fluorspar market valued at c. USD 2.0 billion p.a. and global

downstream market worth c. USD 120 billion p.a.

3 Low cost producer

SepFluor will be one of the world’s lowest cost fluorspar andfluorochemical producers due to Access to high-grade fluorspar resources; Open-pit mines that are easier to mine; Close proximity of mine to chemical plant; and Latest technology

4 Vertically-integrated strategy a key differentiator

Increase in market prices as one goes deeper into fluorochemical processing is significant

Off a low cost base, SepFluor will in due course be able to operate in the full fluorochemical value chain

Strong support from the South African government for the development of local beneficiation

2 World class mineral deposit

SepFluor is developing the world class Nokeng fluorspar mine, Wallmannsthal exploration project and the Ekandustria fluorochemical beneficiation plant (SepChem )

20Mt of SAMREC-compliant fluorspar resource containing in excess of 7.5Mt of fluorspar (CaF2) with potential for resources to more than double in the next few years

Key Investment Highlights2.

8Source: Company

The fluorspar economyFluorspar value chain

Fluorspar, also known asfluorite, is a mineralcomposed of CaF2

Fluorspar deposits are generally categorized by CaF2 content, as one of metallurgical grade (60–85%), ceramic grade (85–96%) or acid grade (97%+)

Fluorspar is the dominant source for the chemical element fluorine, and due to fluorine’s extreme chemicalproperties, fluorine is largely irreplaceable in its use

Fluorspar is mainly used for the production of hydrofluoric acid and aluminum fluoride Used as a flux in

steelmaking, in iron andsteel casting, primary aluminum production, glassmanufacture and cement production, as well as inproducing lubricants, refrigerants and cookware

The fluorspar market, including its downstreamapplications, is worth USD120bn

What is fluorspar?

SepFluor primarily produces acidspar, which has the highest grade and has the highest indirect use in downstream industry

Mining Primary manufacture

Secondary manufacture

Applications and end uses

Fluorspar

Aluminiumproduction

Glass and ceramics making

Hydrogen fluoride

Iron and steel casting

Other Fluoroaliphatics

Inorganic salts

Alkylation

Consumer additives

Fluoropolymers

Fluoroaromatics

Aerospace LCD screens Microelectronic sensors Lithium batteries Solar panels Flame retardant clothing Speciality coatings Composites for

automobiles Nuclear power Toothpaste Anaesthetics Refrigerants Light bulbs Mouth wash Food packaging Active Pharmaceutical

Ingredients

1

9

Forecast fluorspar supply from new mines2012 – 2020 (‘000t)

material, fluorspar Movement being aggressively

led by China Resulted in a dramatic

increase in fluorspar prices driven by tightening supply

China is under pressure toconsume locally anddecrease exports South Africa’s fluorspar

sector is set to benefit fromthis shift

South Africa is blessed with large, rich and diversedeposits of fluorspar Positioning itself to increase

beneficiation within the country to serve the rapidly growing local and regional markets, and for export purposes

Excess demand is expected despite the new mines that will be coming on-streambetween 2014 and 2020

1

Strong market fundamentals support investment case

990 1,300 1,4101,850 1,950

1,500 1,900243500

890950 850

700400

1,180650

755

1,055 1,150

1,150 1,134151

2,550100

45

85 100

100 120

2,564

3,100

3,940 4,050

3,350 3,554

1990 1998

Fluorocarbons

2003 2007

Other chemicals

2008 2009 2012

Aluminium smelting

2013F

Other

1,057 1,099 1,1481,312 1,373 1,438

2013 2014

North America AfricaCIS

2015 2016

Western Europe Australasia China

2017 2018

Middle East Latin America

2019 2020

Other Asia Eastern Europe

Market fundamentals are very positive for SepFluor to come into the market

Source: CRU Strategies; Industrial Minerals; Aluminium Today

203 200 498 (262) (56)4,800

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Globally the USD120bn World acidspar consumption by end-use AIF3 demand forecastfluorochemical industry is shifting new production

1990 – 2012 (‘000t) 2013 – 2020 (‘000t)

towards the source of the raw 4,362 1,199 1,254

843

2,000 2703,817

280 120

704

10

Rising costs in China% indexed to 2004

Source: US Geological Survey Data; China Economic Information Network; The People’s Bank of China; China Economic Information; Bloomberg Note:1. Excludes Nokeng reserves

2012 reserves of 10million tonnes

Source: US Geological Survey (2013)

World’s largest fluorspar reservesProducing >100,000 mtpa

South Africa is set to be the world’s premium fluorspar provider

Chinese producers havehistorically been thedominant force in the global fluorspar sector

SA has 17% of the world’s fluorspar reserves, while China has 10% However SA was only the

world's 4th largest producer in2012, at 180,000t, comparedwith China's 4.3Mt production

Since 2004, Chinese costs of fluorspar production haverisen 800% Chinese fluorspar prices are

unlikely to drop belowUSD300/t, which sets a floor for the global market

SepFluor’s fluorsparproduction costs are lessthan half of China's, makingSepFluor a sustainably lowcost producer

1

Spain Mongolia

2012 reserves of 6 million tonnes

France

Mexico

2012 reserves of 32 million tonnes

2012 reserves of 22 million tonnes

South Africa

2012 reserves of 41 million tonnes(1)

China

2012 reserves of 24 million tonnes

Significant fluorspar producers (>100 000 tpa)

Mix of South Africa’s deposit strength and low cost operating environment positions SepFluor to be a world-class fluorspar company

100

150

200

250

2004 2005 2005 2005 2005 2005 2005 2005

Wages Land2007 2008 2009

Coal, Oil, Electricity Yuan2005 2006 2010 20112004

SepFluor is a vertically integrated fluorochemical producer with a high quality, low cost mineral asset

11

World class mineral deposits

SepFluor’s strategy is to Develop a significant

fluorspar resource base

Continued acquisition of additional assets to grow the company

Become a global leader for the mining and beneficiationof fluorspar

Produce high-quality fluorochemicals, includinganhydrous hydrogen fluoride(AHF) and aluminiumfluoride (AIF3)

SepFluor has 4 fluorsparprojects ranging from early exploration to shovel-ready

Fluorochemical plant will beready to come on-streamsimultaneously with Nokeng

2

Welgelegen / Welgevonden

Kruidfontein

Fluorochemical beneficiation plant

Nokeng

North WestWallmannsthal

Limpopo

MpumalangaGauteng

Free State KwaZulu-Natal

Fluorspar deposit / mine

Beneficiation plant High quality reserve – 12.2Mt; 20-year

life of mine (“LOM”) at 600,000 run-of-mine (“ROM”) tonnes per annum (“tpa”)

High grade – 27% CaF overall; 42% for2

Plattekop

Quality deposit – low phosphorus, low arsenic

Cheap to mine – Open pit; Virtually no overburden; low cost of production

Concentrator – 180,000 tpa acidsparand 30,000 tpa metspar fluorspar

Nokeng

High quality chemical products generated at low cost

Anhydrous hydrogen fluoride (AHF) –60,000 tpa

Anhydrite (CaSO4) – 216,000 tpa

Aluminium fluoride (AIF ) – low3arsenic, low silica; 60,000 tpa

12,000 tpa metspar

State of the art technology – strategic partnership with CHENCO GmbH

SepChem

High tonnage estimated resource –One deposit of 30Mt at 15-20% CaF2and a second deposit of 2.8Mt at 28%CaF2 (early exploration)

Cheap to mine – Open pit; low cost ofproduction

Kruidfontein

Early exploration Grade – 22% CaF2

Welgelegen / Welgevonden

Phase I development

Phase II development

Quality resource – 7.9Mt (deposit openat depth); 22 year LOM

High grade – 46% CaF

2

Quality deposit – low arsenic, low silica

Cheap to mine – Open pit; low cost of production

Pre-feasibility Study – Completed July 2013

100,000 tpa acidspar and 15,000 tpa metspar

Wallmannsthal

12

Aluminium fluoride producersRelative cost rankings

Fluorspar producersRelative cost rankings

The case for beneficiationMarket price

Is placed among the world’s lowest cost producers due to, inter alia: Access to high grade

resource

Mines are open cast andeasier to mine

Close proximity of mine andprocessing facilities

Own beneficiationprocessing

Latest technology The fluorspar value chain is

worth more than USD120bn Significant value as one goes

up the value chain Exponential increase in

value as fluorspar goesthrough processing

SepFluor primarily producesAIF3 (c.60,000 tpa) and AHF(c.60,000 tpa)

Lowest cost producer as a result of the close proximity to high grade resources and superior processing technology

Source: Aluminium Today; Company; Newswires; Industrial Minerals

Low cost producer

3

Acidspar HydrogenFluoride

Fluorochemicalproducts

USD 400 / t USD 1,500 – 2,000 / t >USD 30,000 / t

Phase II

Phase IMarket prices

Low

estc

ost

Vergenoeg mine

Mod

erat

eco

st

Hig

hco

st

Hig

hest

cost

Low

estc

ost

Most Chinese plants (inc. Wei Lai Future Aluminium, Ningxia, Baiyin, Shaowu, Huaxin etc.)

Mod

erat

eco

st

Hig

hco

st

Hig

hest

cost

13

South Africa is strategically positioned to take advantageof the global fluorspar andrelated products trade as aresult of its close proximity to global markets

Currently, 95% of SouthAfrican acidspar is exported Although South Africa

supplies 5% of the fluoridesource for the USD120bnfluorochemical industry, its currently earning less than0.5% of the value

There is currently no AlF3production in South Africa

SepFluor positioned itself across the fluorochemicalvalue chain to allow theCompany to maximise value from the global trade

Access to global markets

3

SepFluor is able to access world markets due to excellent logistics from the Richards Bay and Durban ports

Source: Company; Newswires

AHF

AIF3

CaF2

CaF2

AHF

AIF3

AIF3

CaF2

CaF2

CaF2

CaF2

AHFAHF

South Africa Australia

North America

Middle East

USA

Europe

India

AHF

AIF3

CaF2

South America

14

4

Significant value as one goesup value chain

Vertically integrated mine to chemical plant

Lowest supply chain risk

Best capital efficiencies

Massive resources

Speed – shortest time tomarket

Proven world’s besttechnology

Highest quality (AHF Process with CHENCO Technology)

Market credibility

CHENCO is known to the world as the best technology

Lowest cost of production

Maximum efficiencies available

Cost-effective growth to high margin downstream speciality products

SepFluor will be active in numerous industries through its vertically integrated fluorspar operations

Vertically-integrated strategy key differentiator (I)

Source: Company; Newswires

Mine

Surface Mines

Concentrators

Ekandustria Beneficiation(Phase I)

Anhydrous Hydrogen Fluoride(AHF) Facility

Aluminium fluoride (AIF3) Facility

Aluminium Hydroxide(AI(OH)3): 60,600 tpa

(Imported)

Acidsparup to 130,000 tpa

Acidsparup to 150,000 tpa

Sulphuric Acid and Oleum(H2SO4):

156,000 tpa(Domestic Supply)

AHF42,600 tpa

AHF17,400 tpaAvailable for: Petrochemical alkyalation Steel production Fluoropolymers Refrigerants

Anhydrite (CaSO )4216,000 tpaAvailable for: Fluoroanhydrite building

products Self-level flooring screeds Wall and skimplaster

products

AIF360,000 tpa Available for local and

international aluminiumsmelters

To market

Metsparup to 57,000 tpa

To market

16

A look through historySepFluor’s growth story similar to MexichemFluor’s

South Africa to replicate MexichemFluor and benefit from China’s retreat

SepFluor is set to benefit from MexichemFluor’s strugglesand China’s internal focus China’s fluorspar is for

internal consumption

Mexican fluorspar often has high quantities of arsenic

South Africa’s fluorsparmarket is expected to be supported by continuingdemand from emergingeconomies and decreasingsupply form China continuesto elevate prices

4

2005 MexichemFluor picks up

slack and increases production to 970,000 amt –but costs and quality issues arise

MexichemFluor experiences greater arsenic issues –MexichemFluor opens second mine, sells two qualities (acid and metspar)

1970s -1980s China enters fluorspar

market Low cost fluorspar

makes mines worldwide non-competitive (majors divest)

Chinese costs set floor for all new mine development

1980s-1990s Quimica de Mexico

becomes MexichemFluor Low cost of fluorspar from

China rises to meet low-cost of fluorspar from Mexico

The world faces China Inc. and MexichemFluor as the two controlling fluorspar producers

2006 Sallies and Honeywell go to

court over bad contract and poor mining practices drive costs up

Early 2000s Chinese push

beneficiation, higher wages, higher yuan, consolidation –acidspar exports discouraged

SepFluor set to take over the mantle from China and, more recently MexichemFluor in the global fluorsparsector

2008-2014 Chinese exports decline from

1.3Mt to 0.2Mt – export cost>USD300/mt FOB China

Chinese government orders mineconsolidation with downstream beneficiators – free loans to buyers

MexichemFluor announces cost pressures, but very optimistic price rises to USD500/mt FOB Tampico

New mines in North America need USD600 acidspar prices to be economic

NOW! Leverages off favourable logistics, low cost

resource and state of the art fluorochemicaltechnology to expand rapidly

Bringing Indian, Middle Eastern, African , SouthAmerican, North American, European and non-MexichemFluor customers to SepFluor

New large scale CaF integrated miner and2beneficiator, SepFluor, is founded

Source: Company Website; Newswires

2009 Minersa takes over Vergenoeg–

needs more acidspar for Spain

3. SepFluor’s Requirements

Phase I is establishes a profitable, vertically integrated chemical company. Phase II proposes the productionof value accretive speciality chemical products

18

Phase IIPhase I

SepFluor development growth curve

High Production

Development timeline

SepFluor has takensignificant strides in recent years to reach a position where it is shovel-ready tocommence production

The Company’s growth plansare split into Phase I andPhase II Phase I includes the

simultaneous commissioningof the Nokeng Project andSepChem

Phase II is the opening up of the additional deposits andproduction of speciality chemicals

Phase II sees the additional resources brought on-streamallowing SepFluor to producea wider variety of high-value speciality chemicals andproduct areas including: Electronic grade HF

Lithium hexafluorophosphate (LiPF6)

Refrigerants

Nitrogen trifluoride (NF3)

Xenon difluoride (XeF2)

New electronic gases

Resource development and commercial assessment

Project development

Wallmannsthal

Nokeng SepChem

+30 years

Low

Val

ueKruidfontein

Welgelegen / Welgevonden

Discovery

Nokeng

Shovel - ready Comprises two reserves, totaling 12 Mt 20-year life of mine (LOM) Will produce 180,000 tpa acidspar initially, thereafter

130,000 tpa, and 30,000 tpa metspar Low cost, open pit operation (< USD200 / ton fob

Durban)

SepChem

Will produce 60,000 tpa AHF, 60,000 tpa AlF3, 216,000 tpa CaSO4 and 12,000 metspar

Highest quality AHF (99.99% purity) and AlF3 (over 91% purity)

Well-positioned logistically Low cost operation (AlF3 cost < USD1,000 / ton fob

Durban)

Wallmannsthal

Has 7.9 Mt of resource Very high CaF2 grade: 45.78%

Current estimate is for a 22-year LOM Low-cost, open pit operation (< USD200 / ton fob

Durban)

Time

Phase I Phase II

High margin fluorochemical products

Welgelegen / Welgevonden

and Kruidfontein

Welgelegen / Welgevonden and Kruidfonteinmines are in advanced exploration

Other properties

A 3rd deposit in Nokeng is under exploration Potential to acquire other mines and deposits Planned expansion into high-value speciality

chemicals

Appendix

A. Management CVs

25

Management teamLelau Mohuba

Chairman Retired medical practitioner. Joined Boynton Platinum Pty

Limited in 2003 as business development director; assisted with successful listings on TSX, AIM in 2006

Co-founder of the Sephaku Group; currently serves as CEO for SepHold Limited, and as Chairperson for Incubex Minerals, Taung Gold Limited and Miranda Mineral Holdings

Qualified with a MB.ChB (University of Natal)

Thomas Magauran

CEO

Fast-growth business development specialist and fluorochemical expert with more than 29 years’ experience in management, capital development, mergers and acquisitions, discrete and process manufacturing, high-tech, chemicals, and marketing and sales

Was appointed Executive Manager: Business and Capital Development for SepFluor in March 2013

Previously served as a Director for CHENCO GmbH (fluoro-technology provider), President, SRS and CEO and President, AirQual Corp

Qualified with a Bachelor Physics (Holy Cross)

Shaun CollyerCFO

Has over 19 years of corporate finance, private equity and executive management experience

Been involved in and closed over 15 deals and has worked with over 20 portfolio companies leading growth and change

Prior to joining SepFluor, was the CIO for Jacana Partners, an African SME private equity fund. Prior to that he worked in private equity in New York with Pegasus Capital Partners and Three Cities Research

Qualified with a B,Compt (Hons) (UNISA), MBA (Columbia and London Business Schools) and is a qualified Chartered Accountant

Shibe Matjiu Social

Development Director

Professional social worker with extensive knowledge of andexperience in community related work and corporate socialinvestment in both public and private sectors

Responsible for overseeing the sustainability of the business (social and labour planning as well as corporate social investment)

Has previous experience in capital raises having beenpreviously involved in Boynton Investments (Pty) Ltd’scapital raise initiative

Previously MD, SM2 Social and Training Consultants; Provincial Director, Deaf Federation of South Africa; Director, Boynton Investments (Pty) Ltd; involved in establishment of Disability Desk, Office of the President. Member of SA Women in Mining, NAFCOC, Business Women’s Association

26

Management team (cont’d)SabathaMahote

Project Manager– SepChem

Professional engineer, registered with the Engineering Council of South Africa

Began career with Anglovaal. Subsequently moved to senior appointments at Sasol, De Beers and Metorex

While at Metorex, oversaw the Alfluorco Project (HF, H2SO4, AIF3)

Qualified with Pr Eng, BSc Eng (Chemical) (UCT), and an MBA (GIBS)

Felihle Dumisa Project Manager -

Nokeng

Fourteen years’ working experience, several in seniorproject management positions

Began career with AngloGold Ashanti, worked subsequently for De Beers, RSV, Paradigm Project Management (PPM)

At RSV he was the lead process design engineer on the Nokeng concentrator plant

At PPM managed the process to appoint EPCM consultant for Nokeng and SepChem

Qualified with a B.Sc (Eng) (Chemical) (UCT), GDE Mining (Wits) and an MBL (UNISA)

Elvis Rabohale HR Manager

and Manager -Wallmannsthal

Highly qualified and experienced in the HR field, mostrecently at Mpumalanga Economic Growth Agency asChief Operations Officer

Previously: MD, FleetAfrica (Eastern Cape); GM of Processing, Planning and Development, SA Post Office; Production Engineer, Palabora Mining Company

Qualifications include a National Higher Diploma: Industrial Engineering (Wits), B Com Hons (UNISA), MBA (Open University Business School – UK) and a Masters in Development Finance (Stellenbosch)

Wilson Hlangwane

Mineral Resources Manager

Over 11 years’ experience as a geologist. Obtained operational experience at Goldfields. Spent the last seven years as an exploration geologist in fluorspar, tin and coal

A competent person in fluorspar mineralisation and has vast experience working with the in Nokeng and Wallmannsthal deposits

Qualifications include a B.Sc(Hon)(Geology) WITS, M.Com (Business Management) (University of Johannesburg)

B. CaF2 specifications

28

SepFluor Ltd. will also be producing AHF with Chenco GmbH technology that will enable us to produce the highest quality Anhydrous Hydrogen Fluoride (AHF 99.99%) and further higher grades, including Electronic Grade HydrogenFluoride (EGHF 99.9999%)

Chenco technology may be made available to SepFluor customers should they wish to use higher impurity material, astypically available from many fluorspar mines. These impurities may include arsenic, silica and many other materials

Product specification SepFluor continues to optimize these results and does not represent that thesewill be our final specifications for sale. In fact, SepFluor anticipates providing multiple specifications designed tomeet the needs of ourcustomers

CaF2 – Fluorspar specification

CAS number: 7789-75-5 UN number: N/A

Analysis Specification target Pre-optimized actual

CaF2 >97% 97.1%

Fe2O3 <1.0% 0.86%

MgO <0.01% <0.01%

SiO2 <1.00% 0.53%

Sulphide as S <0.01% <0.01%

CaCO3 <1.0% 0.08%

P2O5 <0.06% <0.01%

As <0.0004% 0.0007%

Pb <0.01% <0.01%

H2O <10% <10%

29

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