# CHW: Drilling Confirms 17 Square Kilometres at Mpyupyu West Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03150426 Publisher: asx Original announcement: 2026-10-08T21:55:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-08T22:29:31.958Z Atlas analysis updated: 2026-10-08T22:29:31.958Z - Company: Chilwa Minerals Limited - Ticker: CHW - Exchange: ASX - Region: Southern Malawi - Primary commodity: Heavy mineral sands - Secondary commodities: Ilmenite, Zircon, Leucoxene, Rutile, Garnet, Monazite, Heavy mineral concentrate - Document categories: Other, Resource update - Extracted: 2026-10-08 22:29:32 UTC Narrative sentiment: 0.00 · Neutral ## Minestarters Atlas summary Chilwa Minerals Limited has provided an update on Phase I resource drilling at its Mpyupyu West heavy mineral sands discovery, confirming the geological outline and consistent stratigraphy over a 17 km² area. While 218 holes have been completed, no assay results are reported, with initial heavy mineral content results expected in late October. The announcement also includes a restatement of the JORC 2012 Mineral Resource Estimate for other deposits, last updated in June 2026. Reasoning: The announcement provides an update on drilling progress at Mpyupyu West, confirming geological understanding and scale, but lacks new assay results. It also includes a restated historical resource estimate for other deposits. - Positive factor: Drilling confirms geological outline and consistent stratigraphy over a large area \(17km2\) at Mpyupyu West, setting the stage for future resource definition. - Negative factor: No assay results for the Mpyupyu West drilling are reported, limiting immediate impact. - Negative factor: The resource estimate presented is a restatement of prior information. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 123 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 123. Some facts used in scoring do not have a stored record. ## Resource Estimates (123) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-0) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 4.4 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 21.3 Mt at 4.4% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 4.4 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-1) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Contained Metal: 950000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 0.95 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.95 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-2) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 3 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 3.00% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.00 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-3) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 0.39 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 0.39% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.39 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-4) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 0.4 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 0.40% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.40 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-5) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 0.04% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.04 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-6) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 0.12 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 0.12% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.12 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-7) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:664ddebf7be6eb7ee56a - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: measured - Tonnes: 21300000 - Grade: 0.02 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mposa \(Main\) with 0.02% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 21.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-8) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 2.8 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 3.1 Mt at 2.8% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.8 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-9) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Contained Metal: 90000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 0.09 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.09 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-10) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 1.85 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 1.85% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 1.85 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-11) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 0.26 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 0.26% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.26 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-12) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 0.25 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 0.25% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.25 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-13) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 0.02 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 0.02% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-14) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 0.08% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.08 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-15) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:a06542acfe3c14b11168 - Deposit or zone: Mposa \(Main\) #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(Main\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-16) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 2.3 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 1.2 Mt at 2.3% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.3 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-17) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Contained Metal: 30000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.03 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-18) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 0.88 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.88% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.88 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-19) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.18% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.18 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-20) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 0.14 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.14% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.14 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-21) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.03% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-22) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 0.22 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.22% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.22 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-23) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:005d863be60ce9115233 - Deposit or zone: Mposa \(North\) #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 0 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mposa \(North\) with 0.00% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.00 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-24) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:c0b69d5c17f8b3736a7d - Deposit or zone: Bimbi #### Resource Data - Category: indicated - Tonnes: 5100000 - Grade: 4.55 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Bimbi with 5.1 Mt at 4.55% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 4.55 Context: 5.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-25) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:c0b69d5c17f8b3736a7d - Deposit or zone: Bimbi #### Resource Data - Category: indicated - Tonnes: 5100000 - Contained Metal: 230000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Bimbi with 0.23 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.23 Context: 5.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-26) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:c0b69d5c17f8b3736a7d - Deposit or zone: Bimbi #### Resource Data - Category: indicated - Tonnes: 5100000 - Grade: 3.85 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Bimbi with 3.85% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.85 Context: 5.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-27) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:c0b69d5c17f8b3736a7d - Deposit or zone: Bimbi #### Resource Data - Category: indicated - Tonnes: 5100000 - Grade: 0.25 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Bimbi with 0.25% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.25 Context: 5.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-28) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:c0b69d5c17f8b3736a7d - Deposit or zone: Bimbi #### Resource Data - Category: indicated - Tonnes: 5100000 - Grade: 0.11 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Bimbi with 0.11% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.11 Context: 5.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-29) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:4e01ea20633206a9ecec - Deposit or zone: Bimbi #### Resource Data - Category: inferred - Tonnes: 2400000 - Grade: 3.79 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi with 2.4 Mt at 3.79% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 3.79 Context: 2.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-30) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:4e01ea20633206a9ecec - Deposit or zone: Bimbi #### Resource Data - Category: inferred - Tonnes: 2400000 - Contained Metal: 90000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi with 0.09 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.09 Context: 2.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-31) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:4e01ea20633206a9ecec - Deposit or zone: Bimbi #### Resource Data - Category: inferred - Tonnes: 2400000 - Grade: 3.21 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi with 3.21% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 3.21 Context: 2.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-32) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:4e01ea20633206a9ecec - Deposit or zone: Bimbi #### Resource Data - Category: inferred - Tonnes: 2400000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi with 0.21% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.21 Context: 2.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-33) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:4e01ea20633206a9ecec - Deposit or zone: Bimbi #### Resource Data - Category: inferred - Tonnes: 2400000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi with 0.09% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.09 Context: 2.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-34) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:12579d1f6758d1a48ebd - Deposit or zone: Bimbi NE #### Resource Data - Category: inferred - Tonnes: 12500000 - Grade: 2.57 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi NE with 12.5 Mt at 2.57% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 2.57 Context: 12.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-35) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:12579d1f6758d1a48ebd - Deposit or zone: Bimbi NE #### Resource Data - Category: inferred - Tonnes: 12500000 - Contained Metal: 320000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi NE with 0.32 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.32 Context: 12.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-36) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:12579d1f6758d1a48ebd - Deposit or zone: Bimbi NE #### Resource Data - Category: inferred - Tonnes: 12500000 - Grade: 2.18 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi NE with 2.18% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 2.18 Context: 12.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-37) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:12579d1f6758d1a48ebd - Deposit or zone: Bimbi NE #### Resource Data - Category: inferred - Tonnes: 12500000 - Grade: 0.14 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi NE with 0.14% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.14 Context: 12.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-38) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:12579d1f6758d1a48ebd - Deposit or zone: Bimbi NE #### Resource Data - Category: inferred - Tonnes: 12500000 - Grade: 0.06 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Bimbi NE with 0.06% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.06 Context: 12.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-39) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 5 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 12.8 Mt at 5.0% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 5.0 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-40) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Contained Metal: 640000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 0.64 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.64 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-41) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 4.36 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 4.36% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 4.36 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-42) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 0.18% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.18 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-43) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 0.03% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-44) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 0.01% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-45) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 0.16 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 0.16% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.16 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-46) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:0efcfadcf57f7862a05f - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: measured - Tonnes: 12800000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Dune\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 12.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-47) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 3.1 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 4.2 Mt at 3.1% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.1 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-48) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Contained Metal: 130000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 0.13 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.13 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-49) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 2.58 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 2.58% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.58 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-50) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 0.13% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.13 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-51) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 0.02 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 0.02% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-52) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 0.01% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-53) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 0.09% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.09 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-54) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:2c4b98263f45c7c756d2 - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: indicated - Tonnes: 4200000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Dune\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 4.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-55) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 3.6 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.5 Mt at 3.6% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 3.6 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-56) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Contained Metal: 20000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.02 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-57) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 2.96 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 2.96% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 2.96 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-58) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.15% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.15 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-59) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 0.02 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.02% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-60) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.01% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-61) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:00bca177837a09227ede - Deposit or zone: Mpyupyu \(Dune\) #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.13% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.13 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-62) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:f9a5ef53e4a1b5b2c2f4 #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Dune\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-63) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 3.9 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 11.6 Mt at 3.9% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.9 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-64) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Contained Metal: 460000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 0.46 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.46 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-65) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 3.2 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 3.20% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.20 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-66) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 0.19% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.19 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-67) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 0.05% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.05 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-68) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 0.02 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 0.02% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-69) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 0.08% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.08 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-70) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:cb5039503a27396fb447 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: measured - Tonnes: 11600000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Measured resource for Mpyupyu \(Flat\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 11.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-71) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 3 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 69.4 Mt at 3.0% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.0 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-72) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Contained Metal: 2100000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 2.10 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.10 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-73) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 2.5 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 2.50% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.50 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-74) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 0.15% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.15 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-75) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 0.03% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-76) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 0.02 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 0.02% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.02 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-77) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 0.07% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.07 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-78) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:7c31d4f1206e987c1e7c - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: indicated - Tonnes: 69400000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Mpyupyu \(Flat\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 69.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-79) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 2.3 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 11.1 Mt at 2.3% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 2.3 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-80) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Contained Metal: 250000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 0.25 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.25 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-81) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 1.9 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 1.90% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 1.90 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-82) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 0.11 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 0.11% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.11 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-83) Chilwa Heavy Mineral Sands · leucoxene Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: leucoxene - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 0.03% leucoxene, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-84) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 0.01% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-85) Chilwa Heavy Mineral Sands · garnet Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: garnet - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 0.05% garnet, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.05 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-86) Chilwa Heavy Mineral Sands · monazite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: monazite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:9b75fda5d8e25fd9d7d0 - Deposit or zone: Mpyupyu \(Flat\) #### Resource Data - Category: inferred - Tonnes: 11100000 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Mpyupyu \(Flat\) with 0.01% monazite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.01 Context: 11.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-87) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:ca610347ac1e53514671 - Deposit or zone: Nkotamo #### Resource Data - Category: indicated - Tonnes: 2400000 - Grade: 3.7 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Nkotamo with 2.4 Mt at 3.70% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.70 Context: 2.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-88) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:ca610347ac1e53514671 - Deposit or zone: Nkotamo #### Resource Data - Category: indicated - Tonnes: 2400000 - Contained Metal: 90000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Nkotamo with 0.09 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.09 Context: 2.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-89) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:ca610347ac1e53514671 - Deposit or zone: Nkotamo #### Resource Data - Category: indicated - Tonnes: 2400000 - Grade: 2.23 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Nkotamo with 2.23% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.23 Context: 2.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-90) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:ca610347ac1e53514671 - Deposit or zone: Nkotamo #### Resource Data - Category: indicated - Tonnes: 2400000 - Grade: 0.23 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Nkotamo with 0.23% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.23 Context: 2.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-91) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:ca610347ac1e53514671 - Deposit or zone: Nkotamo #### Resource Data - Category: indicated - Tonnes: 2400000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Nkotamo with 0.10% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.10 Context: 2.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-92) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:225da79071c89ba7c035 - Deposit or zone: Halala #### Resource Data - Category: indicated - Tonnes: 8700000 - Grade: 3.79 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Halala with 8.7 Mt at 3.79% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.79 Context: 8.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-93) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:225da79071c89ba7c035 - Deposit or zone: Halala #### Resource Data - Category: indicated - Tonnes: 8700000 - Contained Metal: 330000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Halala with 0.33 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.33 Context: 8.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-94) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:225da79071c89ba7c035 - Deposit or zone: Halala #### Resource Data - Category: indicated - Tonnes: 8700000 - Grade: 2.28 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Halala with 2.28% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.28 Context: 8.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-95) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:225da79071c89ba7c035 - Deposit or zone: Halala #### Resource Data - Category: indicated - Tonnes: 8700000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Halala with 0.19% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.19 Context: 8.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-96) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:225da79071c89ba7c035 - Deposit or zone: Halala #### Resource Data - Category: indicated - Tonnes: 8700000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Halala with 0.09% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.09 Context: 8.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-97) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:1e3ee0bf98c17ca107f0 - Deposit or zone: Beacon #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 2.63 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Beacon with 1.0 Mt at 2.63% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.63 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-98) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:1e3ee0bf98c17ca107f0 - Deposit or zone: Beacon #### Resource Data - Category: indicated - Tonnes: 1000000 - Contained Metal: 30000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Beacon with 0.03 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-99) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:1e3ee0bf98c17ca107f0 - Deposit or zone: Beacon #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 1.82 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Beacon with 1.82% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 1.82 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-100) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:1e3ee0bf98c17ca107f0 - Deposit or zone: Beacon #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 0.16 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Beacon with 0.16% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.16 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-101) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:1e3ee0bf98c17ca107f0 - Deposit or zone: Beacon #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Beacon with 0.08% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.08 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-102) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:b952a0d67b5bc464519e - Deposit or zone: Namanja West #### Resource Data - Category: indicated - Tonnes: 4500000 - Grade: 3.66 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Namanja West with 4.5 Mt at 3.66% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.66 Context: 4.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-103) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:b952a0d67b5bc464519e - Deposit or zone: Namanja West #### Resource Data - Category: indicated - Tonnes: 4500000 - Contained Metal: 160000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Namanja West with 0.16 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.16 Context: 4.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-104) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:b952a0d67b5bc464519e - Deposit or zone: Namanja West #### Resource Data - Category: indicated - Tonnes: 4500000 - Grade: 2.63 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Namanja West with 2.63% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.63 Context: 4.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-105) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:b952a0d67b5bc464519e - Deposit or zone: Namanja West #### Resource Data - Category: indicated - Tonnes: 4500000 - Grade: 0.25 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Namanja West with 0.25% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.25 Context: 4.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-106) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:b952a0d67b5bc464519e - Deposit or zone: Namanja West #### Resource Data - Category: indicated - Tonnes: 4500000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Namanja West with 0.10% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.10 Context: 4.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-107) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:db06393867b8cfb07107 - Deposit or zone: Total #### Resource Data - Category: measured - Tonnes: 45800000 - Grade: 4.48 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Measured resource with 45.8 Mt at 4.48% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 4.48 Context: 45.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-108) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:db06393867b8cfb07107 - Deposit or zone: Total #### Resource Data - Category: measured - Tonnes: 45800000 - Contained Metal: 2000000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Measured resource with 2.0 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.0 Context: 45.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-109) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:db06393867b8cfb07107 - Deposit or zone: Total #### Resource Data - Category: measured - Tonnes: 45800000 - Grade: 3.43 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Measured resource with 3.43% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.43 Context: 45.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-110) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:db06393867b8cfb07107 - Deposit or zone: Total #### Resource Data - Category: measured - Tonnes: 45800000 - Grade: 0.28 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Measured resource with 0.28% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.28 Context: 45.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-111) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:db06393867b8cfb07107 - Deposit or zone: Total #### Resource Data - Category: measured - Tonnes: 45800000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Measured resource with 0.03% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Measured Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.03 Context: 45.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-112) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:17b420d6be43b1a264fd - Deposit or zone: Total #### Resource Data - Category: indicated - Tonnes: 99500000 - Grade: 3.19 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with 99.5 Mt at 3.19% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.19 Context: 99.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-113) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:17b420d6be43b1a264fd - Deposit or zone: Total #### Resource Data - Category: indicated - Tonnes: 99500000 - Contained Metal: 3200000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with 3.2 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.2 Context: 99.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-114) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:17b420d6be43b1a264fd - Deposit or zone: Total #### Resource Data - Category: indicated - Tonnes: 99500000 - Grade: 2.51 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with 2.51% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 2.51 Context: 99.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-115) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:17b420d6be43b1a264fd - Deposit or zone: Total #### Resource Data - Category: indicated - Tonnes: 99500000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with 0.17% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.17 Context: 99.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-116) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:17b420d6be43b1a264fd - Deposit or zone: Total #### Resource Data - Category: indicated - Tonnes: 99500000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with 0.04% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 0.04 Context: 99.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-117) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:fa71e5600264360e4130 - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 26500000 - Grade: 2.58 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with 26.5 Mt at 2.58% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 2.58 Context: 26.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-118) Chilwa Heavy Mineral Sands · heavy mineral concentrate Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral concentrate - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:fa71e5600264360e4130 - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 26500000 - Contained Metal: 700000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with 0.7 Mt of heavy mineral concentrate, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.7 Context: 26.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-119) Chilwa Heavy Mineral Sands · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: ilmenite - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:fa71e5600264360e4130 - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 26500000 - Grade: 2.17 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with 2.17% ilmenite, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 2.17 Context: 26.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-120) Chilwa Heavy Mineral Sands · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: zircon - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:fa71e5600264360e4130 - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 26500000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with 0.13% zircon, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.13 Context: 26.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-121) Chilwa Heavy Mineral Sands · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: rutile - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:fa71e5600264360e4130 - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 26500000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with 0.04% rutile, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Inferred Resource - Negative factor: Historical Estimate Only Evidence · table > 0.04 Context: 26.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### Grand Total [Link to this fact](https://atlas-staging.minestarters.com/news/chw-drilling-confirms-17-square-kilometres-at-mpyupyu-west--19e5cdc2-95b3-4a3c-9710-e88dea100bb2#fact-resource-facts-122) Chilwa Heavy Mineral Sands · heavy mineral sands Historical result Needs review: historical\_restatement #### Identity - Project: Chilwa Heavy Mineral Sands - Commodity: heavy mineral sands - Region: southern malawi - Reported Region: Southern Malawi - Ticker: CHW #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Bernhard Siebrits, Bertus Cilliers - Resource group id: resource:3d2be97035b669ac7675 - Deposit or zone: Grand Total #### Resource Data - Tonnes: 171800000 - Grade: 3.44 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % THM #### Prior Estimate - Resource Date: 2026-06-19 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-19T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Grand Total resource with 171.8 Mt at 3.44% THM, reported under JORC, but is a restatement of a prior estimate. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: Historical Estimate Only Evidence · table > 3.44 Context: 171.8 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.