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ASX ANNOUNCEMENT Quarterly Report For the period ending 31 December 2020 28 January 2021 STRANDLINE resources limited Strandline moves to complete funding for Coburn mineral sands project in WA Strong progress made in discussions with multiple lenders for Coburn's commercial debt facility ; The selected commercial facility will stand alongside the approved A $ 150m NAIF loan ; Port access agreement signed and other major construction contracts awarded Coburn Mineral Sands Project , Western Australia • Strandline advanced the commercial debt options for the development of Coburn , progressing detailed discussions with several potential sources • • The commercial debt tranche will stand alongside the already - approved 15 - year A $ 150 million loan facility from the Commonwealth Government's Northern Australia Infrastructure Facility ( NAIF ) • Port access and services agreement signed with the Mid West Ports Authority , which operates the Port of Geraldton in WA , to export 100 % of the products from Coburn over an initial 10 - year term Appointment of Contract Power as preferred contractor to build , own and operate Coburn's power station , integrating gas - fuelled power generation with solar renewable energy and battery storage Appointment of Woodside - EDL joint venture ( WEJV ) as preferred contractor to supply trucked LNG for power generation to Coburn • • Progressed Front End Engineering Design with Primero Group operating in strategic partnership with Mineral Technologies to further optimise the processing plant design in preparation for construction Fungoni and Tajiri Mineral Sands Projects , Tanzania • • • Strandline continued to progress its portfolio of high - quality mineral sands assets in Tanzania , including the development - ready Fungoni project and the emerging Tajiri project As part of finalising project financing for Fungoni , Strandline and the Government of Tanzania ( GNT ) have been working to implement the GNT's equity interest in the proposed mine operation A comprehensive Framework Agreement has been developed by the Parties and has now reached a mature , final draft form , pending a final approvals process by the parties • Finalising the Framework Agreement with the GNT is one of Strandline's key conditions under the previously announced Nedbank US $ 26m Project Finance Facility Agreement for Fungoni • • Strandline released the results of its Tajiri mineral sands project Scoping Study , based on the JORC Resources of 268Mt @ 3.3 % THM , underpinning its long - term production outlook in Tanzania Study shows Tajiri will deliver strong financial returns over a 23 - year life , with EBITDA of US $ 0.9 billion Corporate Cash on hand of A $ 17.3m and no debt as at 31 December 2020 Strandline Resources Limited Level 9 , 216 St Georges Terrace , Perth , WA , 6000 E : enquiries@strandline.com.au | T : +61 8 9226 3130 | ABN 32 090 603 642 245 A Page | 1