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27 OCT 2021 STRANDLINE resources limited BUILDING A SIGNIFICANT CRITICAL MINERALS BUSINESS ASX ANNOUNCEMENT ASX : STA QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2021 STRONG CONSTRUCTION PROGRESS AT COBURN MINERAL SANDS PROJECT , WA Strandline on track to deliver critical minerals into buoyant mineral sands market next year COBURN MINERAL SANDS PROJECT , WESTERN AUSTRALIA • Strong construction progress ensures Strandline's world - scale Coburn project is on budget and on time for first production of heavy mineral concentrate ( HMC ) in the December quarter 2022 • Coburn project construction is now 28 % complete . Key milestones in the quarter included : - All major construction contracts now awarded representing ~ 93 % of project scope ( in terms of value ) Significant bulk earthworks and road clearing , cut - to - fill , sub - base and base course works progressed as a priority to enable installation of above - ground infrastructure to proceed Site accommodation village commissioned for first 100 rooms ; Subsequent to the end of the quarter , progressive transition of workforce from the pioneer camp began Hybrid power station , dozer mining units , processing plant and bore field works all advancing on - time , with all major mechanical equipment ordered , design reviews held and fabrication underway Mining services contract executed with experienced mineral sands mining contractor , MSCS Strong assay results received from infill drilling conducted over the first 2 - year mining area ; Results bode well for an upgrade of Ore Reserves and mine plan prior to first production next year • Financial close achieved , with lenders enabling Strandline to proceed with first drawdown of the debt facilities underpinning Coburn development through to production • Favourable finance structure comprising combination of long - tenor debt provided by NAIF ( A $ 150m ) and a US $ 60m Bond Issue , together with the Company's strong cash position • Mineral sands market continues to strengthen with current mineral sands spot pricing being substantially higher than the assumptions contained in the Coburn DFS FUNGONI AND TAJIRI MINERAL SANDS PROJECTS , TANZANIA • Advanced government framework agreement , strategic partner discussions and planning for development of its portfolio of high - growth mineral sands assets in Tanzania CORPORATE • Cash of A $ 71.2m as at 30 Sept 2021 ; ~ A $ 230m Coburn loan facilities available for utilisation • Zero drawdown from Coburn loan facilities to date No lost - time injuries or reportable environmental incidents were recorded during the quarter Level 9 , 216 St George Terrace , Perth WA 6000 | E : enquiries@strandline.com.au T : +61 8 9226 3130 | ABN 32 090 603 642