Tempest Minerals Limited

Climate Impact & Sustainability Data (2017, 2019, 2021, 2022)

Exploration results may be insufficient to justify financial viability of projects.
May not achieve required regulatory approvals.
Securing exploration and development activities reliant upon satisfactory resolution of native title and overlapping tenure.
Environmental risks and hazards associated with mining and exploration.
Requires additional funding to continue exploration and move to development phases.
Market factors such as commodity price and labor cost variance can make projects uneconomical.

Extensive exploration and product quality testing prior to establishing JORC compliant resource estimates.
Engages external experts for evaluation of exploration results.
Develops strong relationships with landholders for mutually acceptable access arrangements.
Careful assessment of potential environmental issues and compliance with regulations.
Periodic environmental reviews once field exploration commences.
Safety and Health Management system to minimize safety risks and improve safety culture.
Seeks additional funding through equity, debt, and/or project finance.

Exploration results may be insufficient to justify financial viability of projects.
May not achieve required local regulatory approvals.
Securing exploration and development activities may be reliant upon satisfactory resolution of native title and overlapping tenure.
All phases of mining and exploration present environmental risks and hazards.
May require additional funding to continue exploration and move to development phases.
Commodity price and labor cost variance can make projects uneconomical.

Extensive exploration and product quality testing prior to establishing JORC compliant resource estimates.
Engages external experts to assist with evaluation of exploration results.
Develops strong, long-term relationships with landholders.
Careful assessment of potential environmental issues and compliance with regulations.
Periodic environmental reviews once field exploration commences.
Safety and Health Management system to minimize risk of uncontrolled safety and health events.

Coronavirus (COVID-19) pandemic resulting in travel restrictions and delays in field exploration programs.

Staff working from home, reduced travel, education programs for staff on infection risk reduction, maintaining relationships with suppliers and partners, continuous updating of cash-flow projections.

Exploration – the results of the exploration activities may be such that the estimated resources are insufficient to justify the financial viability of the projects.
Regulatory and Sovereign – the Group may not achieve the required local regulatory approvals to continue exploration or properly assess development prospects.
Social Licence to Operate – the ability of the Group to secure and undertake exploration and development activities within prospective areas is also reliant upon satisfactory resolution of native title and (potentially) overlapping tenure.
Environmental – All phases of mining and exploration present environmental risks and hazards.
Safety – Safety is of critical importance in the planning, organisation and execution of the Group’s exploration and development activities.
Funding – the Group will require additional funding to continue exploration and potentially move from the exploration phase to the development phases of its projects.
Market – there are numerous factors involved with exploration and early stage development of its projects, including variance in commodity price and labour costs which can result in projects being uneconomical.

The Group undertakes extensive exploration and product quality testing prior to establishing JORC compliant resource estimates and to (ultimately) support mining feasibility studies.
The Group engages external experts to assist with the evaluation of exploration results where required and utilises third party competent persons to prepare JORC resource statements or suitably qualified senior management of the Group.
The Group takes appropriate legal and technical advice to ensure it manages its compliance obligations appropriately.
To address this risk, the Group develops strong, long term effective relationships with landholders with a focus on developing mutually acceptable access arrangements.
The Group assesses each of its projects very carefully with respect to potential environmental issues, in conjunction with specific environmental regulations applicable to each project, prior to commencing field exploration. Periodic reviews are undertaken once field exploration commences.
The Group has a Safety and Health Management system which is designed to minimise the risk of an uncontrolled safety and health event and to continuously improving safety culture within the organisation.
The Group will require additional funding to continue exploration and potentially move from the exploration phase to the development phases of its projects.