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TRANSCRIPT
Creative Resources Leadership
AnnualGeneralMeeting
25November2016
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Overview§ LepidicoisawellfundedASX-listedlithiumexplorationand
developmentcompanywithanexperiencedmanagementteam
§ Lepidico’sstrategicobjectiveistobecomeasustainablelithiumproducerwithaportfolioofassetsandpipelineofprojects
§ Lepidico’sexplorationinitiativeslargelyfocusonhardrockmineralsthatpriortoL-Max®werenottraditionalsourcesoflithium
§ Lepidicoisdifferentiatedbyhavingsuccessfullyproducedlithiumcarbonateandasuiteofby-productsfromnon-traditionalhardrocklithiumbearingmineralsusingitspatentedL-Max®processtechnology
§ Lepidicoprovidesexposuretoaportfoliooflithiumexplorationassetsthroughitswhollyownedproperties,JV’sandIPlicenceagreementsinAsia,Australia,Canada,EuropeandSouthAmerica
§ At30September2016LepidicohadA$3.0Mincashandnodebt
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Newsourcesoflithium
Lepidolite (lightpurple)K(Li,Al,Rb)3(Al,Si)4O10(F,OH)2
Zinnwaldite (darkgrey)KLiFeAl(AlSi3)O10(OH,F)2
Ambygonite/Montebrasite(Li,Na)AlPO4(F,OH)
§ MicasandphosphateshavebeenlargelyoverlookedasasourceoflithiumasnocommerciallyviableprocesswasavailabletoextractthelithiumandprocessthroughtolithiumchemicalspriortoL-Max®
§ LithiumbearingmicasLepidolite andZinnwaldite containupto5%Li2Oandlikespodumene,arehostedinpegmatites
§ Lepidolite andZinnwaldite oftenoccurwithtinandtantalumbearingmineralsaswellaswithspodumene
§ LithiumphosphatessuchasAmblygonitecontainupto10%Li2O
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TheL-Max® process– demonstrablesuccess
LithiumhydroxidePending:Dec2016
Gypsum
Pending:Dec2016
LepidoliteZinnwaldite Amblygonite(benchtested)
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Lithiumcarbonate>99.5%purityUS$15,000-20,000/t
Sodiumsilicateor‘water-glass’Valuedependsonproximitytomarket
PotassiumsulphateUS$500/t
Caesium-RubidiumformateUS$25,000/t
Premiumproduct
Sulphuricacid
Limestone
BenignResidue
Valuedependsonproximitytomarket
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L-Max®- 100%ownedbyLepidico
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§ L-Max®isaproprietary,‘straight-forward’yetnovelhydrometallurgicalprocess
§ L-Max®usescommonindustrialreagentsatatmosphericpressureandmoderatetemperature(c.100oC)
§ AninternationalpatentapplicationhasbeenfiledunderthePCTforL-Max®
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TheL-Max® advantageü L-Max®leacheslithiumfromcertainmicasandphosphateswithout
roasting– conventionalprocessingofspodumene requirescapitalandenergyintensiveroasterstoextractlithium,oftenwithnoby-products
ü L-Max®reagentsandoperationhavestraightforwardhealth,safetyandenvironmentalcharacteristics
ü L-Max®utilises,commonuse,inexpensivereagents
ü L-Max®utilisesconventionalequipmentandstraightforwardprocesses– aseriesofagitatedtanks,crystallisersandfilters
ü L-Max®isenergyefficientandatfullcommercialscalemaybeself-sufficientforpowergeneratedfromanintegratedacidplant
ü By-productsincludepotassiumsulphatefertiliser(SOP),sodiumsilicate,gypsumandpotentiallycaesiumandrubidiumformates
ü Fastleachkineticsandmoderateprocesscostestimatesmeanlowgradefeedsourcesmaybetreated(eg tailings,wastedumps)
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Time(hrs)
UnnamedMicaConcentrate
LepidoliteHillMicaOre
CinovecMicaConcentrate
LithiumleachcurvesunderL-Max®
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L-Max® - achievementsandfuturemilestonesü L-Max®provisionalpatentregisteredOctober2014,internationalpatentapplicationlodgedOctober2015
ü Additionalpatentssubmittedrelatingtoprocessingoflithium-phosphateminerals(eg.amblygonite)andproductionofCaesium-Rubidiumformate frommicas
ü Successfuloperationofacontinuouslyrunmini-plant(140Hours)treatingalepidolite concentratetoproduce>99.5%puritylithiumcarbonate,achievingrecoveriesof>94%fromtheleachliquor
ü Subsequentproductionofby-productsfrommini-plantleachliquor
ü Ongoingrefinementofprocesstoimproverecoveriesandefficiencyofflowsheet
§ What’snext?
§ Pre-feasibilitystudyfor‘Phase1L-Max®CommercialPlant’– Q42016
§ SecurefeedstocksupplysourcesforPhase1Plant– Q42016
§ FeasibilitystudyforPhase1Plant– 2H2017
§ Permitting,implementationandconstructionofPhase1Plant– 2018’19
§ LithiumProduction– 2019
§ ExplorationandacquisitionofLi-richmicadeposits– ongoingLepidicoL-Max®mini-plant
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Businessmodel
OperatingBusiness RoyaltyBusiness
L-Max®processplant(whollyowned/JV)
Integratedwithconcentrator
andmines
Third-partyconcentratefeed
Third-partymineorefeed
L-Max®third-partylicences
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Assetoverview– lithiumprojects
LemareEarnupto75%QuebecSpodumene Target
RoyalEarnupto70%QuebecLepidolite Target
BrazilMultipleLepidolite&ZinnwalditeTargets
ThirdElementMetals50%Lepidico50%CrusaderResources
CinovecLicenceOptionAgreementCzechRepublicZinnwaldite/TinResource
Euriowie100%BrokenHillAmblygoniteTarget
AglobalfootprintmademanageablebyJV’sandlicenses
LatinResourcesJVInitially40%ArgentinaLepidolite Target
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PortugalMultipleLepidolite&AmblygoniteTargets
Reung Kiet LithiumProjectMoU75%VikingMinesThailandLepidolite Target
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OverviewCapital Structure (ASX:PLP) Share Price History
Directors and Senior Management
Description Amount
SharePrice 1.5c
Shares O/S 1.75B
MarketCap $26.3M
Cash(30September2016) $3.0M
Top20Shareholders 51.8%
Name Title
GaryJohnson Non-ExecutiveChairman
JoeWalsh ManagingDirector
TomDukovcic Executive DirectorExploration
MarkRodda Non-ExecutiveDirector
ShontelNorgate ChiefFinancialOfficer
GavinBecker GMBusinessDevelopment
1February2016PLPexclusivitywithLepidico
12February2016Lemare optiondealannounced
16March2016PLPandLepidicoagreeacquisitionterms
30May2016Rightsissueannouncedtoraise$3.6M
21June2016L-Max®positiveIntlPreliminaryreportonpatentissueannouncedtoraise$3.6M
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DirectorsandSeniorManagementTeam
Mr. Gary JohnsonMAusIMM, MAICD
Chairman
Mr. Tom DukovcicBSc (Hons), MAIG, MAICDDirector Exploration
Mr. Joe WalshBEng, MSc
Managing Director
Mr. Mark RoddaBA, LLB
Non-Executive Director
Mark is a lawyer with 20 years experience in the resources sector including the management of local and international mergers and acquisitions, divestments, exploration and project joint ventures, strategic alliances, corporate and project financing transactions and corporate restructuring initiatives.
Tom is a geologist with over 25 years experience in exploration and development. He has worked in diverse regions throughout Australia, including the Yilgarn, Kimberley, central Australia and northeast Queensland. Tom is a Member of the Australian Institute of Geoscientists and a Member of the Australian Institute of Company Directors.
Joe is a resources industry executive and mining engineer with over 25 years experience working for mining companies and investment banks. Joe also has extensive equity market experience and has been involved with the technical and economic evaluation of many mining assets and companies around the world.
Gary has over 30 years experience in the mining industry as a metallurgist, manager, owner, director and managing director possessing broad technical and practical experience of the workings and strategies required by successful mining companies.
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Mr. Gavin BeckerARSM, BSc (Eng), MBA,
FAusIMM, CP(Met), GAICDBusiness Development
Gavin is a metallurgist with 40 years industry experience. During that time he has worked in senior operational, R&D, feasibility study and consulting roles on lead/zinc, gold, uranium, copper and nickel/cobalt/scandium mines and/or projects.
Ms. Shontel NorgateB.Bus
Chief Financial Officer
Shontel is a finance executive with over 20 years commercial experience in the resources industry including debt and equity finance, financial reporting, project management, corporate governance, commercial negotiations and business analysis
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Investorhighlights
CompetitiveAdvantage
§ AfarlesscompetitivelandscapeexistsforLi-micaandLi-phosphateexplorationproperties
§ L-Max®isexpectedtohaverelativelycompetitivecapitalintensity
§ By-productpotentialmeansL-Max®shouldhaveacompetitiveoperatingcoststructure
L-Max®
§ Employsconventionalprocessesusingindustrystandardequipment,operatedatambientpressureandmoderatetemperature
§ Employscommonuse,inexpensiveregentswithstraightforwardhealth,safetyandenvironmentalcharacteristics
§ Hasanovelflowsheetthatisthesubjectofaninternationalpatentapplication
PathwaytoProduction
§ PFSonPhaseIcommercialplantisfullyfundedandscheduledforcompletionMarch2017
§ PFSindicates9monthstocompleteafeasibilitystudyandafurther18monthsforprojectimplementation
§ Firstproductionprojectedfor2019
ProvenTeam
§ Experiencedappropriatelyqualifiedmanagementteam
§ Astrongindustrytrackrecordthatincludescompanytransformingprojectandtechnologydevelopment
§ Significantmilestonesaccomplishedinashortperiodoftime– Lepidicoisjustgettingstarted……
FeedSources
§ Lepidicoisbuildingaportfolioofqualitylithiumassetsaroundtheworld
§ InboundenquiriesrevealexplorersthatdiscoverLi-richmicasaredrawntoL-Max®
§ TailingsandwastedumpsrichinLi-micaofferneartermproductionopportunities
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Importantnotice
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ThispresentationhasbeenpreparedbythemanagementofPlatypusMineralsLtd(the'Company')forthebenefitofbrokers,analystsandinvestorsandnotasspecificadvicetoanyparticularpartyorperson.
Theinformationisbasedonpubliclyavailableinformation,internallydevelopeddataandotherexternalsources.Noindependentverificationofthosesourceshasbeenundertakenandwhereanyopinionisexpressedinthisdocumentitisbasedontheassumptionsandlimitationsmentionedhereinandisanexpressionofpresentopiniononly.Nowarrantiesorrepresentationscanbemadeastotheorigin,validity,accuracy,completeness,currencyorreliabilityoftheinformation.TheCompanydisclaimsandexcludesallliability(totheextentpermittedbylaw),forlosses,claims,damages,demands,costsandexpensesofwhatevernaturearisinginanywayoutoforinconnectionwiththeinformation,itsaccuracy,completenessorbyreasonofreliancebyanypersononanyofit.
WheretheCompanyexpressesorimpliesanexpectationorbeliefastothesuccessoffutureexplorationandtheeconomicviabilityoffutureprojects,suchexpectationorbeliefisbasedonmanagement’scurrentpredictions,assumptionsandprojections.However,suchforecastsaresubjecttorisks,uncertaintiesandotherfactorswhichcouldcauseactualresultstodiffermateriallyfromfutureresultsexpressed,projectedorimpliedbysuchforecasts.Suchrisksinclude,butarenotlimitedto,explorationsuccess,commoditypricevolatility,futurechangestomineralresourceestimates,changestoassumptionsforcapitalandoperatingcostsaswellaspoliticalandoperationalrisksandgovernmentalregulationoutcomes.Formoredetailofrisksandotherfactors,refertotheCompany'sotherAustralianSecuritiesExchangeannouncements andfilings.TheCompanydoesnothaveanyobligationtoadviseanypersonifitbecomesawareofanyinaccuracyin,oromissionfrom,anyforecastortoupdatesuchforecast.
CompetentPersonStatementTheinformationinthisreportthatrelatestoExplorationResultsisbasedoninformationcompiledbyMrTomDukovcic,whoisanemployeeoftheCompanyandamemberoftheAustralianInstituteofGeoscientistsandwhohassufficientexperiencerelevanttothestylesof mineralisationandthetypesofdepositunderconsideration,andtotheactivitythathasbeenundertaken,toqualifyasaCompetentPersonasdefinedinthe2012editionofthe“AustralasianCodeforReportingofExplorationResults,MineralResourcesandOreReserves.”MrDukovcicconsentstotheinclusioninthisreportofinformationcompiledbyhimintheformandcontextinwhichitappears.
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