Announcement • Mar 31
Resource Development Group Limited Announces High Purity Manganese Project Update Resource Development Group Limited provided an update on the successful production of further samples of High Purity Manganese Sulphate Monohydrate (HPMSM) using its own proprietary technology to process ore from its 100% owned Ant Hill manganese deposit, and its aim of securing a strategic partner to advance the project into full-scale production. This announcement follows on from the one made on 29th November 2024 and is in line with the Company's objective of becoming a Battery Minerals producer. The initial Micro Plant runs used ore from the same diamond drill holes as used in the previously reported testwork. The assorted samples remaining after the previous testwork were blended to give a series of samples of different feed composition which partially covered the anticipated variability in composition across the Ant Hill deposit. A further 100kg of ore were obtained from stockpiles to the south of the deposit and at the former site of the beneficiation plant developed prior to RDG taking ownership of the project. An additional 250kg was collected from the same stockpiles to allow continuation of the optimisation work in the Micro Plant and to produce samples of HPMSM which have been made available for qualification testing to various OEM's. Following on from previous announcements, the present runs were made using the same flowsheet but at larger scale on a semi-continuous basis. Reagents commercially available in bulk were used to better understand the importance of reagent purity on the process. Reagents from different sources were trialled and were found to have variable levels of impurities which affected the purification process. Additional work was undertaken to source reagents with lower impurities from other suppliers. The initial runs in the Micro Plant were used to provide technical data, which was used by Carnac Project Delivery Services Pty Ltd. (Carnac) to develop the 50,000tpa (Train 1) SysCAD model of the process. The leachate was processed through purification and crystallisation to give manganese sulphate crystals. Substantial process development occurred during these runs to gain a better understanding of the interrelationship between temperature, time, impurity removal, reagent type and addition and the general
operating conditions. The reagent requirements, operating temperature, residence times, maximum impurity levels in solution and a range of other parameters were optimised for each stage using the Micro Plant.Further smaller scale runs were undertaken to allow investigation of alternative process options, including alternative methods for removing impurities. The most recent runs to produce samples for OEM qualification used the same flowsheet, reagents and operating conditions in order to assess the consistency of the process. Buy Or Sell Opportunity • Mar 10
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 54% to AU$0.011. The fair value is estimated to be AU$0.015, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 0.5% in 2 years. Earnings are forecast to decline by 94% in the next 2 years. 
