High-Grade Iron Ore for the Green Steel Future

• AKORA Resources is a company focused on high-grade iron ore production in Madagascar.
• The company's main project is Becky Soapa, where they have identified a high-grade iron ore deposit with a grade of 67%.
• AKORA Resources aims to start with a low-cost direct shipping operation and later produce a high-grade iron concentrate for the green steel industry.
• The demand for high-grade iron concentrate is expected to increase significantly by 2050, and AKORA Resources is well-positioned to supply this premium product with low impurities.

AKORA Resources is positioned to supply premium iron ore to feed the growing demand for green steel. With its high-grade direct shipping ore (DSO) and coarse-grained magnetite deposits, AKORA can produce the low-impurity iron concentrates needed for direct reduced iron (DRI) and electric arc furnace (EAF) steelmaking. Located in southern Madagascar near major steel markets, AKORA's deposits have clear advantages over many competing projects.

Overview of AKORA Resources

• Tightly held company with strong leadership - Board and top shareholders own 60%
• Small market capitalization of ~$18 million with under 100 million shares
• Advanced portfolio of four iron ore projects in Madagascar
• Main focus is the Beckoa deposit in southern Madagascar

Beckoa's High-Grade Advantage

"The high-grade outcrop you can see on that left-hand photograph grading 67% iron ore which is a pretty good grade when you think that the benchmark grade is 62%." - Paul Bibby, Managing Director

• Surface outcrops grading up to 67% iron demonstrate exceptional mineralization
• Initial drilling has intersected long intervals of high-grade iron formation
• Coarse-grained magnetite is readily upgradeable to 68-70% iron concentrates
• Low impurities - silica + alumina around 1.2-1.5%

Clear Potential for Low-Cost DSO Operation

"What we're looking at Beckoa after two and a half years of drilling is a staged development where we have a low cost operation delivering lump and fines Direct ship iron ore.

• Shallow high-grade mineralization is ideal for simple DSO extraction
• Low strip ratio with mineralization starting at the surface
• DSO production can generate early cash flow to fund downstream processing

Ideal Positioning for Green Steel Demand

"Getting it below 2% is quite a task and as you can see there in those competitor analysis most already grinding very finely aren't achieving the 2% Target and they can't really grind a lot finer to remove those impurities so it's going to be an interesting to see what goes forward at of cor we're seeing about 1.2 to 1.5 combined silica and aluminium and that's because our grade is high and our mineralogy is course so it's a great advantage for us also a feature."

• Transition to green steel requires high-grade, low-impurity iron concentrates
• Major deficit forecasted in the supply of suitable >67% iron concentrate
• AKORA's coarse mineralization produces ideal concentrates at a relatively coarse grind
• Low impurities allow the production of high-quality DRI pellets needed for EAF steelmaking

Significant Exploration Potential

"We took some rock chips from Satra Cara last year and along the 10 km strike those Rock trips were very high grade and we're going to work through methodically as we did at Beckoa to identify a resource do the product trials and what we think we have here is quite a significant iron or District in Madagascar."

• Current drilling has only covered 30% of the identified 6km strike length at Beckoa
• Additional targets within the district remain untested
• Potential for 500Mt to 1Bt of mineralization across the project area

Strategic Location Close to Major Asian Steel Markets

"The geographical advantage for Madagascar is that we're close to India India is a rapidly growing Iron and Steel IND uh producer they're looking to double their production by 2030 from 130 million tons to 250 million tons and they're going to need some lump and finds iron or and Madagascar is the closest place to get it from."

• Southern Madagascar provides easy access to major steel markets in India and the Middle East
• India's steel production is forecast to double by 2030, requiring substantial iron ore imports
• Positioning allows competitive delivery costs to key growth regions

Socially and Environmentally Responsible Development

"The work is shared around we've also delivered medical Goods School goods and in December 21 we drilled a water well and put in place that water tank and Taps around the village and the first time they ever had fresh water and six months later the kids no longer had diarrhea and the health of the community improved significantly."

• Strong community engagement and support for exploration activities
• Provided much-needed well water and improved health outcomes in local village
• Plan to power future operations with solar energy to minimize carbon footprint
• Ethical development approach creates social license to operate

AKORA is Ready to Supply the Future of Steel

With its exceptional mineralization, AKORA Resources is poised to take advantage of the coming surge in demand for high-quality iron ore. The company's strategic Madagascar location provides easy access to India's expanding steel industry and the emissions-conscious markets of the Middle East. With coarse-grained magnetite readily upgradeable to low-impurity concentrate through simple processing, AKORA can produce the vital feedstock needed for green steelmaking. Having already delineated substantial high-grade iron resources, the company has significant upside remaining through further exploration of its district-scale project area. With advanced technical studies underway, AKORA now aims to transition toward production. The company's tight share structure and modest market capitalization provide opportunities for early investors. As the world moves rapidly toward decarbonization, AKORA Resources is positioned at the leading edge in supplying high-grade iron ore to feed the green steel future.

Reasons to Invest

Upside Potential with Early-Stage Entry

As a relatively unknown junior explorer with a modest market capitalization, AKORA offers significant upside potential for early-stage investors. The company's current share price does not yet reflect the large scale of its iron ore resources and exploration potential. Investors who get in early can ride the value creation as AKORA delineates further resources, de-risks its projects, and advances toward development.

Strategic Positioning for Major Growth Market

AKORA's positioning to supply high-grade iron ore concentrate for green steel places it squarely in the path of surging global demand. With the steel industry needing to drastically cut emissions, demand for low-impurity iron concentrates is forecasted to increase fivefold by 2050. AKORA can capture this exponential market growth in the years ahead.

Premium Pricing Prospects

The coarse nature and exceptional purity of AKORA's magnetite concentrate make it a coveted source of low-impurity iron units. Tight supply and booming demand for suitable green steel feed are expected to lead to favorable pricing dynamics. AKORA is well placed to obtain premium pricing as demand outpaces supply.

Potential Low-Cost Producer

With shallow high-grade mineralization, AKORA has the potential to be a low-cost iron ore producer. A simple and low-cost DSO operation is possible in the initial years, offering potential for strong profit margins. The ability to generate early cash flows can fund expansion into downstream processing.

Strong Leadership and Tight Capital Structure

AKORA has a experienced management team and board along with supportive top shareholders who own 60% of the tight share structure. This provides stability and alignment for investors. The company is not saddled with excessive debt or dilution.

In summary, AKORA offers an attractive early-stage speculation on meeting the exponential growth in demand for high-quality iron ore to feed the green steel revolution. Its strategic positioning, exploration upside, and tight structure provide a compelling investment case.