FERREX Plc Dave Reeves – Managing Director. UK Investor Roadshow – March 2012 Iron ore and manganese development company focused in Africa

FERREX Plc

Dave Reeves – Managing Director

UK Investor Roadshow – March 2012

Iron ore and manganese development company focused in Africa

Iron ore and manganese development company focused in Africa 3

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Ferrex is an AIM quoted iron ore and manganese exploration and development company focused on advancing low capex deposits, which offer significant near-term value uplift potential through resource delineation, up the development curve and into production.


Board Members

Brian Moritz

Non-Executive Chairman

Brian is a Chartered Accountant and former Senior Partner of Grant Thornton, London. He formed Grant Thornton’s Capital Markets Team which floated over 100 companies on AIM under his chairmanship. In 1995 he retired from Grant Thornton to concentrate on bringing new companies to the market as a director. He concentrates on mining companies, primarily in Africa, and was formerly chairman of African Platinum PLC (Afplats) and Metal Bulletin PLC as well as currently being chairman of several junior mining companies.

Dave Reeves

Managing Director

Dave holds a first class honours degree in mining engineering from the University of New South Wales, a graduate diploma in applied finance and investment from the Securities Institute of Australia, and a Western Australian first class mine managers certificate of competency. He has spent the last 13 years operating in Africa including Zimbabwe Platinum Mines Ltd (Zimplats) and Afplats where he was responsible for the feasibilities and development of the projects. He is a non-executive director of ASX companies Minbos Resources and Southern Crown Resources.

Roy Pitchford

Non-Executive Director

Roy, a Charted Accountant, has more than 25 years senior management and executive experience. Previously CEO of Cluff Resources Zimbabwe Ltd, Delta Gold Zimbabwe (Pvt) Ltd, Zimplats, Afplats and African Minerals Ltd. Roy currently sits on numerous public and private mining companies’ boards.

Russell Lamming

Non-Executive Director

Russell Lamming is a qualified geologist with an honours degree in geology from the University of the Witwatersrand and a Bachelor of Commerce in Economics from the University of Natal. Russell has a broad range of experience including directorship of a South African mining consultancy and precious metals analyst for a leading international broker. Russell led the commercial process at Afplats and was most recently CEO of AIM listed Chromex Mining, which was bought in 2010 at a significant premium to its listing price.


Management

James Carter

Chief Financial Officer

James is a CPA with 17 years experience in the mining industry. James was most recently CFO of Straits Resources, a diversified metals group listed on the ASX. Prior to this James was CFO and Company Secretary of SGX listed Straits Asia Resources and was integral to its development as a 10 million tonne per annum coal producer in Indonesia. His work at Straits included debt and equity capital markets, tax strategy, M&A and corporate governance. James is a board member of Worldwide Energy, an aspiring Indonesian coal company and PTT Asia Pacific Mining (the controlling shareholder of Straits Asia).

Mark Styles

Exploration Manager

Mark is a geologist with a first class honours degree obtained from the University of Western Australia and 20 years experience in exploration and project management worldwide. His experience covers a range of precious metals, base metals and industrial minerals in Australia, Saudi Arabia, Tanzania, South Africa, Canada and Mexico, where he was country manager for ASX-listed explorer Azure Minerals Limited. In 2008, Mark established a geological consulting company specialising in property evaluation, target identification and exploration management with Cliffs Asia Pacific Iron Ore as a major client.


Portfolio

Iron Ore

South Africa - Malelane Iron Ore Project (74%) Granted Prospecting Right over 4,192 Ha Inferred Resource of 139Mt @ 40.1% CaFe Exploration target of 775 to 930Mt at 34 to 36% Fe Very encouraging metallurgy, low capex and opex Scoping Study due early Q2 2012 Project located 6km from rail, less than 200km

from the port of Maputo in Mozambique

Manganese

Togo – Nayega Manganese Project Granted five Exploration Licences over 92,390 ha Encompasses the Nayega deposit with an

exploration target of 6 – 8.5Mt @ 14-25.5% Resource planned for early Q2 2012

South Africa - Leinster Manganese Project Granted Prospecting Right over 10 farms totalling

46,868 ha Exploration target of 5.5 to 8.7Mt at 28.6 to 31.3%

Mn defined by Coffey Mining

Mozambique - Changara Manganese Project Undergoing review Manganese mineralisation, historical surface

samples graded up to 53% Mn


Malelane Iron Ore - Infrastructure

Well serviced by existing infrastructure which will allow major capital cost savings

Main toll road is 5km away

Electrified rail siding located 6km away

170km to Port of Maputo via road or rail

Port of Maputo undergoing expansion, initial talks suggest extra capacity available, especially for iron ore

Power and water in local area

Large labour force in surrounding area


South Africa - Malelane Iron Ore Project

Maiden Resource of 139Mt @40.1% CaFe

4.9mt @ 56.7% CaFe (52.2% Fe) and

50.9Mt @ 47.7% CaFe (44.3% Fe) – potential beneficiate before shipping ore (‘bBSO’)

Only modelled 1.1km of 14km branded iron formation strike

Total exploration target of 775 to 930Mt at 34% to 36% Fe

Additional drill programme to commence Q2 2012 for infill and resource definition

Met testwork underway in Australia, good initial results, coarse grind (plus 425 micron) with WHIMS to produce 55% CaFe pre-concentrate, grind reverse float to produce 61% CaFe at a weight recovery of 50%, lower capex and opex

Currently investigating crush and DMS for bBSO material

Targeting scoping study completion early Q2 2012, pre-feasibility study completion by end of 2012

Malelane Resource at various cut-offs

Cut-Off (%)

Tonnes(m)

Fe%

CaFe%

Al2O3

%SiO2

%P%

S%

LOI1000

50 4.9 52.2 56.7 1.4 10.8 0.08 0.018 8.0

40 50.9 44.3 47.7 2.0 22.3 0.07 0.020 7.3

20 138.9 36.9 40.1 4.0 30.1 0.06 0.029 8.0

Malelane Concentrate Using 40% Fe Feed

Fe%

CaFe%

Al2O3

%SiO2

%P%

S%

MnO%

LOI1000

55.8 60.8 1.3 6.7 0.07 0.04 2.3 8.3


Malelane Iron Ore – Geology


Iron Ore Peer Comparison

*As of 7 March 2012, Source: Company Data ,Bloomberg** Reserve.

Company Exchange Location Existing Infrastructure

Resource/

Exploration Target

Market Cap

(USD)*

Northland Resources

TSX/Oslo Norway Nearest Rail 150km

Nearest Port 376km

165Mt @32.8% Fe**

555 million

Equatorial Resources

ASX Republic of Congo Nearest rail: 2km

Nearest port: 439km

1,300 - 2,200Mt

30 - 65% Fe

299 million

African Iron ASX Republic of Congo Nearest rail: 2km

Nearest port: 439km

121Mt @ 45.8%

1,600 - 2,600Mt

30 - 65%

299 million

Legend Mining ASX Cameroon Nearest Rail: 2km

Nearest Port: 150km

300-500Mt

16-40%

46 million

Baobab Resources

AIM Mozambique Nearest rail: 50kmNearest port: 550km

482Mt @ 32.9% 45 million

Ferrex Plc AIM South Africa Nearest Rail: 6km

Nearest Port: 170km

139Mt @ 36.9%

775 – 930Mt @

34 - 36% Fe

24 million


Five Exploration Licences covering 92,390 ha in northern Togo

Exploration target of 6 – 8.5Mt @ 14-25.5%

Known deposit covers 3km by 1km, averages 4m thick

109 shafts previously dug with grades ranging from 3 to 46% Mn

Manganese fragments in clay suggests suitability to a shallow open pit operation

Potential for simple beneficiation through gravity separation

Very good (plus 10) Mn:Fe ratio

Good road access to Lome Port (600km) and rail line 250km away which is being investigated for refurbishment, last used 10 years ago

Potential low capital, early production

Togo - Nayega Manganese Project


Togo - Nayega Manganese Project

Systematic test pitting completed in the core area of mineralisation of the Nayega deposit

Mineralised widths up to 9.85m received - in line with expectations based on assessment of historical work

Initial assay results from 5 pits average 14.4% Mn with a peak of 28%, consistent with exploration target grades of 14 to 25.5% calculated by Coffey Mining

Metallurgical samples ready shipped to be shipped to a commercial laboratory for preliminary testwork

JORC compliant maiden resource and preliminary metallurgical testwork results targeted for Q2 2012

Plans to undertake a Definitive Feasibility Study with a view to completing Q4 2012


South Africa - Leinster Manganese Project

Located in an outlier of the Kalahari Manganese Field, immediately north of Aquila’s Avontuur Project (resource of 109Mt at 39% Mn)

46,868Ha project over 10 farms

51 holes drilled by Anglo American between 1977 and 1988

Exploration target of 5.5 to 8.7Mt at 28.6 to 31.3% Mn calculated by Coffey Mining

Known deposit, open in all directions

Secured historical data, drill ready

Drill programme to commence in Q2 2012

Pre-feasibility study to be launched after resource calculated


Leinster Manganese Project – Cross Section


Mozambique - Changara Manganese JV

Selective historical surface samples graded up to 53% Mn

Pods of manganese up to 200m long mapped historically

Coincident zinc anomalies – potential for SEDEX mineralisation (lead-zinc ore)

Opportunity to earn up to 80% of all minerals via completing a bankable feasibility study

Awaiting field results from recent mapping programme


Manganese Peer Comparison

Company Exchange Location Resource/

Exploration Target

Market Cap

(USD)*

OM Holdings ASX Australia 33Mt @ 23% 229 million

Shaw River Manganese ASX Namibia, Australia, Ghana

6.8Mt @ 23%

30 – 50Mt @23-27%

28 million

Spitfire Resources ASX Australia 10-15Mt @ 15-25% 17 million

Ferrex Plc AIM South Africa/Togo 5.5 - 8.7Mt @ 28.6 - 31.3% plus

6 – 8.5Mt @ 14-25.5%

24 million

*As of 7 March 2012.

Source: Company Data ,Bloomberg.


Investment Summary and Strategy

Value uplift opportunity through near-term JORC resource delineation at the Nayega manganese project in H1 2012

Defined programmes to fast-track portfolio up the development curve and into production, BFS Nayega and PFS Malelane end 2012

Potential development option on Nayega early 2013

Good infrastructure aiding low-capex focus – assets in close proximity to excellent rail and road links and power and water supply

Solid future project pipeline – targeting additional manganese and iron ore assets with low capex expenditure

Strong news flow expected through 2012

Proven team – highly skilled Board and management team which has been directly involved in developing mining projects worth in excess of US$1 billion


Key Data

MARKET AIM

TICKER FRX

SHARE PRICE 3p (08.03.12)

MARKET CAP £18 million (08.03.12)

16.45%

12.93%

18.98%15.97%

35.67%

Shareholders >15%

Shareholders 10%<>15%

Shareholders 5%<>10%

Shareholders 2.5%<>5%

Shareholders 0%<>2.5%

Shareholder Analysis

12 MONTH HIGH/LOW 3.9p / 1.8p

SHARES IN ISSUE 519,524,117

NOMAD Grant Thornton

BROKER Collins Stewart

Share Price

Documents

FERREX Plc Dave Reeves – Managing Director. UK Investor Roadshow – March 2012 Iron ore and manganese development company focused in Africa