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Your NaturalResources & EnergyConsultingPartner

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CONTENTS:03 Chris Morgan Associates

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50THe CMA TeAM HAS wORkeD iN MORe THAN 50 COuNTRieS wORlDwiDe

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we bring together a wealth of sector expertise and experience from around the globe to deliver high quality, cost-effective services that add value to our clients’ businesses.At Chris Morgan Associates we don’t apologise for a few grey hairs. After all, it’s our decades of experience and extensive network of contacts that set us apart from other consultancies. Then there’s the sheer breadth of services we offer - not only the technical mining, metals and energy knowledge you’d expect, but also the commercial, financial, banking and legal know-how that enables us to advise governments at one end of the scale and help new start-ups get off the ground at the other.

CMA, as our clients prefer to call us, was established in 1998 by founder Christopher Morgan as a consultancy and services company supporting the mining, metals and energy sectors. Since then, CMA has earned an enviable reputation for providing a wide range of competitively priced advisory and operational services to junior and multinational companies, multi-lateral agencies and national governments.

We keep our overheads low so if you’ve used other consultancies in the past you’ll find our fee structure refreshingly transparent and surprisingly good value for money.

One of our strengths is the ability to tailor-make a project team that perfectly matches the assignment, handpicking staff and associates to create the optimum mix of skills, experience and capabilities. You can be reassured that with CMA you deal only with seasoned professionals and won’t waste your money training up inexperienced consultants.

The collective experience of the CMA team over the last ten years spans 25 commodities and more than 50 countries worldwide. As you might expect from individuals with such strong operational track records, all CMA staff and associates have both feet firmly planted in the real world so you can rely on their pragmatic, commercially astute and commonsense recommendations.

“If you want to know about the road ahead, ask someone who has travelled it” Chinese Proverb

Chris Morgan Associates

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25CMA HAS expeRieNCe iN OveR 25 DiffeReNT COMMODiTieS

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Through CMA’s extensive network of associates around the globe we are able to work wherever our clients operate. Our range of services is just as far-reaching:

AdvisoryGovernments and public sector organisations seek CMA’s advice on mineral and energy policy, law and privatisation and development strategy, as well as views on institutional strengthening. We have helped the European Union, United Nations, the World Bank, European Bank for Reconstruction & Development and numerous governments throughout Africa, South America, the Pacific Rim and former Soviet Union to restructure their management and market offerings to attract foreign and domestic investment.

project evaluationExploiting minerals profitably and responsibly requires experience and insight into the key technical, commercial, economic, legal, financial and political issues. CMA has extensive experience of helping governments and commercial ventures assess the viability of a natural resources project from initial conceptual study through to pre-feasibility and bankable feasibility studies. Along the way, we co-ordinate all technical aspects such as independent assaying of cores, oil upgrading test work and development of models to evaluate overall project economics and ‘bankability’.

Minerals that we have studied, evaluated and managed include oil shale and tar sands, coal, oil and gas resources, gold, silver and platinum group metals, tin and tantalum, tungsten, copper, lead, zinc, bauxite and alumina, phosphate and potash, diamonds and gemstones, ilmenite and rutile, industrial minerals, nickel, chrome and molybdenum.

Start-upsThe profitable development of a natural resource venture requires drive and creative thinking combined with professional technical assessments, cost estimating, planning skills and access to capital. Our associates are skilled in steering fledgling companies through all the stages of their development from negotiations with brokers, bankers, potential investors and government ministries to co-ordinating technology providers, advising on legal aspects, addressing environmental issues and recruiting a capable management team.

Our Services

Discussions with the Ministry of Mines and Energy - Beijing China

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Special AssignmentsCMA’s staff and associates have proven experience in many other aspects of the mining and metals industry including:

interim managementThrough our widespread network of industry contacts, CMA can identify and recruit suitably qualified professionals with solid, hands-on experience who will add value to your business from day one.

executive placementWith a shrinking pool of fresh talent, the ability to find good people becomes more important than ever. Our decades of experience and networking at international level have enabled us to develop an invaluable bank of industry contacts. This is greatly prized by headhunters searching for individuals with that rare commodity: commercial acumen.

Business intelligenceCMA has researched and advised on country and security issues. We have also been asked to give our opinion of corporate governance performance and the declared and actual business principles of companies and individuals.

Commodity researchClients regularly ask CMA to give an independent view on specialised or developing commodities such as lithium, rare earths, talc, manganese nodules, travertine, silica sand and diamonds, as well as more conventional precious and base metals, industrial and energy minerals.

Operational ConsultancyIn today’s challenging business environment, you need to perform at optimum efficiency to remain competitive. CMA’s knowledgeable consultants can contribute to your business by troubleshooting problems, giving concrete recommendations for process improvements, undertaking specific projects, training your staff and alerting you to new opportunities. While by no means an exhaustive list, past operational assignments have included:

Geological reserve definition and optimal extraction planning.

Health, safety, environment, community and sustainability performance reviews against ‘best in class’ standards.

Conducting due diligence for banks, financiers, lawyers, insurance companies and mergers & acquisitions targets.

Change management implementation programmes.

Training workshops and facilitation of discussions.

Our Services

Coal Mine - Colombia

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Advisoryexpertise speaks volumes bringing book to fruition for eiTiDrawing on its extensive network of contacts worldwide, CMA assembled a team of specialists to advise on and contribute to ‘Drilling Down’, a “milestone publication” that gives a step-by-step explanation of each phase of EITI implementation and unpicks the complex technical and strategic issues involved. The authoritative book was commissioned by the Extractive Industries Transparency Initiative (EITI), the global body that aims to strengthen governance by improving transparency and accountability in the extractives industries sector (mining and oil and gas).

Advising the world Bank on mining policy reformHaving conducted successful reviews into the Egyptian Mineral Resources Authority and Yemen Geological Survey & Mineral Resources Board, CMA was contracted by the World Bank’s IFC PEP-MENA (Private Enterprise Partnership for the Middle East & North Africa) to deliver proposals on the reform of mining policy in Egypt and Yemen. The reports were used to streamline licensing and administrative procedures governing the mineral resources sector in both countries to improve efficiency and attract inward investment.

project evaluationConducting due diligence on coal mining assetsCMA was retained to compile a due diligence report as part of a pre-acquisition technical assessment of coal mining assets in both South Africa and Wales for global energy provider RWE AG. The work entailed technical, commercial, organisation, management and market reviews, all feeding into an economic model.

evaluating a Congolese potash mineCMA was approached by the Congo Potash Company to provide a concise, objective evaluation of exploration and mining data retrieved from the files of MDPA, a French company that operated the Holle Potash Mine in Congo Brazzaville during the 1970s.

Start-upsHelping Jordan exploit its oil shale resourcesCMA senior management have successfully steered Jordan Energy & Mining, an oil shale project development company, from its birth to the present day. Under CMA’s guidance, Jordan Energy & Mining has met all its developmental milestones from pre-feasibility and bankable feasibility studies on its Al Lajjun site to exploration drilling, trial mining, producing a positive Environmental Impact Assessment and four highly successful pilot plant test runs. The project is expected to produce 15,000 barrels of oil per day using the proven Alberta Taciuk Process to which Jordan Energy & Mining has negotiated exclusive rights in Jordan.

Mining for diamonds and gold in BrazilCMA has advised Amazon Resources Limited, a privately-owned UK concern founded by CMA senior management in 2005 to take over from a Brazilian mining company. Amazon Resources has alluvial diamond and gold assets projects in the Minas Gerais, Rondonia, Parana and Piaui states of Brazil. A small-scale commercial plant is currently coming on-stream in Paraúna, Minas Gerais.

Case Studies

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Bauxite Mine - Suriname

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Operational ConsultancyAssessing merger and acquisition targetsCMA was commissioned by Australia’s Macquarie Bank to undertake a market review and pre-acquisition evaluation of a major international mining and marketing company in the industrial minerals sector in Scandinavia prior to an acquisition proposal. Work involved conducting a full due diligence report involving geological and operational review, financial and marketing aspects, occupational health & safety and environmental risk assessment.

Digging deep in mining company reviewsCMA was contracted by mining and construction industry supplier Orica to conduct in-depth reviews of mining companies and their likely demand for mining consumable goods in 19 Eastern European countries. Orica then instructed CMA to carry out a similar evaluation of companies in 17 African countries. Data from the market reviews, which spanned multiple commodities, was compiled into web-based interactive databases.

Special Assignmentsinterim management service ensures operations are in safe handsCMA has provided staff and associates on a short or medium term basis to augment or support existing management in several overseas operations including an underground gold mine in Indonesia, state-run mining company in Peru and a gold company in Uzbekistan. Better operational planning linked to tighter management controls and higher HSE standards reliably offers improved production performance, staff motivation and financial returns to the client.

A rich source of contacts for executive placementCMA was approached to assist in a search for candidates and successfully placed highly qualified and experienced individuals for a major gold mine in Africa, iron ore project in Canada and a large engineering company, among others.

Bringing new insight to business intelligenceMajor companies evaluating opportunities with new partners or in new countries often seek independent advice on what surprises may or may not await them. CMA offers the advantage of a low profile approach with excellent and well networked mining/energy contacts in most countries that allows these studies to be carried out ‘under the radar’ before the more recognised player arrives. Sensitive subjects include ethical and HSE performance, credentials of local staff and officials and anticipated developments in regulatory reform and legal and fiscal frameworks.

Case Studies

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Oil Pipeline - Turkmenistan

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$500,000

CMA ADviSeD ON A STRATeGy TO SAve $500,000 iN OpeRATiNG COSTS fOR ONe MAJOR JOiNT veNTuRe

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Christopher MorganChristopher Morgan has over 40 years’ experience in the mining, energy and environmental sectors including 20 years with Billiton International Metals (previously the metals arm of Shell) to operating company Managing Director level where he was involved in the management of large, open pit mine operations in South America, Africa and latterly in Central Asia with Western Mining Corporation.

Having held a succession of senior corporate and project management roles in coal, metals, environment and oil and gas, Christopher founded Chris Morgan Associates, which today is consulted by governments and private sector clients worldwide. Over the past decade he has developed considerable specialist expertise in advising a wide range of clients as well as bringing natural resources ventures to fruition, including nurturing start-ups through the development stages to become thriving concerns.

Christopher is a Chartered Engineer, a Fellow of the Institution of Materials, Minerals and Mining and holds an Honours degree in Mining Engineering and a Master’s in Mineral Production Management.

“If we are together nothing is impossible”Sir Winston Churchill (1874 – 1965)

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for an exploratory discussion about how CMA can help you, please contact us:

phone us: +44 (0)1892 686200 email us: info@cmal.co.uk visit our website: www.cmal.co.uk

Chris Morgan Associates limitedSpa House, 18 upper Grosvenor RoadTunbridge wells, kent, TN1 2ep united kingdom

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