Opportunity to acquire up to a 100% interest in the Munglinup Graphite Project Located in Western Australia

Mineral Commodities Ltd (MRC) is an ASX-listed mining company. Rob Brauer and Rob Kirman were appointed voluntary administrators to MRC on 18 December 2025. Expressions of interest are sought for either the recapitalisation of MRC via a Deed of Company Arrangement, or alternatively for the acquisition of up to a 100% interest in Munglinup. This sale process excludes the Tormin Mineral Sands mine (South Africa) and the Skaland Graphite mine (Norway) which are subject to separate processes.

Munglinup is located near Esperance, WA and hosts proven mineralisation and a diversified tenement package for future development and downstream opportunity.

Key investment highlights of Munglinup include:

  • Substantial tenement footprint: An active package comprising four exploration tenements, two pending exploration tenements, one general purpose lease, two miscellaneous licenses, and one mining license;
  • Resource expansion potential: Mineral Resources of 7.99 Mt at 12.2% total graphitic content (TGC) within granted mining lease, open at depth and along strike, with additional exploration upside;
  • Robust production outlook: Definitive Feasibility Study (DFS) ore reserves of 4.24Mt at 12.8% TGC, supporting a projected mine life of 14 years, with planned throughput of 400-500 ktpa;
  • Compelling grade and recoveries: DFS average feed grade of 13% TGC, recovery of 88%, and nominal concentrate production of 52 ktpa at 95% TGC;
  • Strategic export pathway: Located 107 km west of the Port of Esperance, enabling efficient access to global battery and industrial markets;
  • Positioned for the energy transition: Downstream Pre-Feasibility Study highlighted superior returns from integrated mining, minerals processing and battery anode materials development;
  • Environmental approvals: Flora and fauna surveys completed and currently progressing through the WA EP Act Part IV Assessment process and the Commonwealth EPBC Act Part IX processes; and
  • Clear ownership structure: MRC owns Munglinup via its subsidiary MRC Graphite Pty Ltd (Administrators Appointed) (MRCG). MRCG holds a joint venture interest with a sole partner on two of Munglinup’s ten tenements. JV interest is also included in this sale (i.e. 100%).

Expressions of interest are sought by no later than 5pm (AWST) on Monday, 16 March 2026.

Interested parties should contact:

McGrathNicol – Jack Blahut

T: +61 8 6363 7632

E: [email protected]