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ASX ANNOUNCEMENT Quarterly Report For the period ending 31 March 2021 30 April 2021 STRANDLINE resources limited Strandline fully - funded for development of Coburn mineral sands project in WA Strandline perfectly placed to capitalise on growing demand and falling supply of critical minerals Coburn Mineral Sands Project , Western Australia • • • Strandline completes US $ 60m senior secured Bond issue , which stands alongside the approved loan facility of up to A $ 150m from the Northern Australia Infrastructure Facility ( NAIF ) The Bond coincided with the successful completion of a A $ 122m fully underwritten equity raising Proceeds from the Bond , NAIF loan facility and the equity raising completes the full funding requirement of A $ 338m to develop Coburn into production and cashflow Binding rutile offtake agreement executed with Venator Materials , a leading global chemical company dedicated to the development and manufacture of titanium dioxide ( TiO2 ) pigments Venator deal means 95 % of Coburn's forecast production is now covered by offtake contracts for first five years with some of the world's largest consumers across America , Europe and Asia • In preparation for execution , major contracts awarded covering a significant portion of the construction scope , with procurement advancing for the remaining works Fungoni and Tajiri Mineral Sands Projects , Tanzania • Strandline continued to progress its portfolio of high - quality mineral sands assets in Tanzania , including the high - margin Fungoni project and the emerging Tajiri project Continued discussions with the Government of Tanzania ( GNT ) to implement a framework agreement for the GNT's equity interest in Strandline's proposed mining operations • Following the recent release of the Tajiri mineral sands project Engineering Scoping Study , work commenced on advancing to the next phase of project economic evaluation and permitting Mineral Sands Market The mineral sands market continued to strengthen through the Quarter with increasing global demand and reducing supply , providing a strong foundation to support capital investment Corporate Cash on hand of A $ 13.0m and no debt commitments as at 31 March 2021. Proceeds from capital raising launched in March 2021 of A $ 122m were received in April 2021 . 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 1 Page 1 299