Other Investments

Kalahari Key

Kalahari Key Mineral Exploration Company (Pty) Ltd (“Kalahari Key”) is a special purpose company set up by an experienced team of explorers to explore for Nickel, Copper and Platinum Group Metals in highly prospective region in southern Botswana, Africa. TSI has 17.8% of the shares in Kalahari Key. Initial aerial results were highly encouraging and management has developed a plan to move to physical test drilling. Due to working restrictions in Botswana related to the COVID-19, the situation drilling will be pushed back to later 2020 / early 2021.

Leopard Lithium

Leopard Lithium Pty Ltd – on 27 August 2019, TSI announced that binding heads of agreement (“Heads of Agreement”) have been signed with Leopard Lithium Pty Ltd (“Leopard Lithium”), an Australia registered private company, to sell TSI’s interests in Nashwan Holdings Ltd (“Nashwan”) and Mansa Lithium Inc (“Mansa”). The transaction completed on 16 December 2019. Nashwan and Mansa both hold exploration licences in southern Mali, which has high potential for lithium pegmatite deposits. Partnering with the Leopard Lithium team gives the Company excellent exposure to other assets and expertise in this sector. Due to wider market disruption associated with COVID-19, plans to raise additional funds from the Australian Stock Exchange have been deferred and the business continues to be funded by majority shareholders.

Mining investment strategy

The Company will look to realise investments in its mining assets as liquidity options emerge.

These options include selling existing holdings for cash or partnering with operators that the Board feels can extract more optimal value from existing holdings.

The Company is unlikely to complete a cash investment in mining exploration activities.

Registered Company Address:
Two Shields Investments Plc
Hyde Park House
5 Manfred Road
London
SW15 2RS

LON:TSI

Registered Number: 2956279
(Registered in England and Wales)

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