Slide 1: Investor Presentation August 2024
Investor Presentation August 2024
Slide 2: Disclaimer
Disclaimer 2 This investor presentation (together with oral statements made herewith, this “Presentation”) is for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) among Plum Acquisit
Slide 3: Disclaimer
Disclaimer 3 The foregoing list is not exhaustive, and new risks may emerge from time to time . If any of these risks materialize or the Parties’ assumptions prove incorrect, actual results could differ materially from the results implied by these forward - looking statements . Many factors could ca
Slide 4: Today's Presenters
Today’s Presenters 4 Jeet Basi President & Executive Chairman Tactical Resources Ranjeet Sundher Chief Executive Officer & Director Tactical Resources Steven Handwerker Chief Financial Officer Plum Acquisition Corp. III Kanishka Roy Chief Executive Officer Plum Acquisition Corp. III Select Company E
Slide 5: Key Investment Highlights
Key Investment Highlights 5 Prominent Rare Earth Elements (REEs) Mining Asset and Company Strong position with geographic focus in North America Dedicated Management Team with Proven Track Record Deep execution experience and substantial sector expertise Massive Geo - Political and Supply Implicatio
Slide 6: Key Themes Driving Demand for Rare Earth Elements
119 387 750 2020A 2030E 2050E 1% 2% 5% 11% 12% 69% Key Themes Driving Demand for Rare Earth Elements 6 (1) Kleinman Center, “The Not - So - Rare Earth Elements: A Question of Supply and Demand“, 2021. (2) USGS - Mineral Commodity Summaries 2024, page 145. (3) Federal Register, “Publication of a Repo
Slide 7: Transaction Overview
Transaction Overview 7 Business Combination Structure • Plum Acquisition Corp. III (the “SPAC”) (NASDAQ: PLMJ) intends to complete a business combination (the “Business Combination”) with Tactical Resources Corp. (TSX.V: RARE; OTC: USREF; “Tactical”) • The Business Combination is targeted to close i
Slide 8: Tactical Resources Overview
Tactical Resources Overview
Slide 9: Tactical Resources at a Glance
68 Miles Southeast of El Paso, Texas Tactical Resources at a Glance 9 Company Background Location Overview Peak Project 2018 Founded 2022 Signed Agreement on Peak Project Vancouver, Canada Headquarters Live Mining Operations Sierra Blanca Complex 2 Miles From Round Top REEs Project Rare Hard Rock Di
Slide 10: Peak Project Video Introduction
Peak Project Video 10 Introduction Video
Slide 11: Experienced Management Team
Experienced Management Team Kuljit (Jeet) Basi President & Executive Chairman Alnesh Mohan Chief Financial Officer Ranjeet Sundher Chief Executive Officer & Director • Extensive background with 25+ years of experience successfully developing private and public companies in the technology, mining, re
Slide 12: Rare Earth Elements Overview
Rare Earth Elements Overview 12 Compositio n End Markets (3) Cerium (Ce) Lanthanum (La) Neodymium (Nd) Praseodymium (Pr) Samarium (Sm) Europium (Eu) • Light rare earths represent the lanthanides, the rare earth elements with the chemical group with the lowest atomic numbers ‒ Used in cell phones, el
Slide 13: Significant Global Demand for Rare Earth Elements
Significant Global Demand for Rare Earth Elements 13 The international competition to mine and refine rare earth elements November 15, 2023 The race to produce rare earth elements January 5, 2024 Ensuring Rare Earth Elements for National Security November 28, 2023 UK government announces funding for
Slide 14: Rare Earth Elements Power Our Modern Economy
Rare Earth Elements Power Our Modern Economy 14 • Rare Earth Elements are a group of 17 elements that are critical for modern technologies • China produces ~70% of global Rare Earth Elements causing North America to have a vulnerability and over - reliance on this supply chain (1) • Canada and U.S.
Slide 15: Geopolitical Elements Underscore the Importance of REEs
Inflation Reduction Act (2) creates specific incentives and allocations for domestic production of critical elements 2022 American Energy Innovation Act (3) includes “responsible production of domestic resources to meet critical mineral needs” 2020 President Biden declared REEs production “essential
Slide 16: Tactical's Key Strategic Corporate Pillars
Tactical’s Key Strategic Corporate Pillars 16 Unlocking Clean - Tech REEs Solutions is critical for securing North America’s Strategic Future U.S. Focused Texas based projects for increased American supply Clean Processing Clean - tech driven with a focus on reducing carbon footprint and water consu
Slide 17: U.S. Based Operations Create Significant Advantages
17 U.S. Based Operations Create Significant Advantages More Secure, Independent Supply Chains Key Benefits of Reduced Dependence on China’s REEs Supply (4) Insulation From Foreign Export Controls Domestic Satisfaction of Mineral Demand for Key U.S. Sectors Diminished Chinese Pricing Power (1) U.S. D
Slide 18: Texas Based & 100% North American
Texas Based & 100% North American Rare Earth Elements 18 (1) Railroad Commission of Texas Data 2018 - 2024. (2) From Texas Mineral Resource Corp PEA August 2019. Note that this statement does not assure same result from Tactical Resources. The information from this PEA, including net present value,
Slide 19: Peak Project Overview
Peak Project Overview 19 Peak is one of only a few rare earth hard rock Direct - Leach - Extractable projects in the world (1) Source: Cyprus Sierra Blanca, Inc. (1988). Overview • Located 68 miles southeast of El Paso, Texas and two miles southeast of the Round Top Rare Earth Elements project, oper
Slide 20: Site Overview
Site Overview 20 • Agreement with the Sierra Blanca Quarry (SBQ) that allows, for a fee, access to and a right of first purchase option to tailings material naturally enriched with REEs on the Sierra Blanca property, in addition to acquisition optionality of the broader all - encompassing SBQ mining
Slide 21: Peak Project - Sierra Blanca Quarry Overview
Peak Project - Sierra Blanca Quarry Overview 21 Mining Loading Hauling 1 ƒ Crush 2 ƒ Crush 2” Screen ¾” Screen Coarse Stockpile oversize undersize Tactical’s Processing Plant Fines Stockpile Coarse Aggregate Sold as Railway Ballast Revenue Stream for SBQ Long - term Storage Zero - Value for SBQ Feed
Slide 22: Sierra Blanca Quarry Overview (Cont.)
Sierra Blanca Quarry Overview (Cont.) 22 Existing Fines Stockpiles Fines from Ongoing Active - Cut Operations Entire SBQ Operation & Mineral Lease Note: For illustrative purposes only; actual boundaries may vary. Disciplined 3 - tiered purchase agreement has potential to deliver progressive value
Slide 23: Future Workflow In Progress
Future Workflow In Progress Project Timeline Expectations 23 Complete Legal due diligence and commercial discussions • Preliminary quarry tailings offtake • Verification • Sampling • Survey of materials Initiated Technical Workplan • Engage metallurgical consultant & lab • Amended tailings offtake a
Slide 24: Sampling Results
24 Sampling Results Note: For illustrative purposes only; actual boundaries may vary. 40 Field Samples Collected Across SBQ Property, PK - 1 to PK - 40 Key Highlights • Comprehensive sampling campaign for initial assessment of metal content and variability • Broad sampling coverage balanced with det
Slide 25: Key Takeaways from Initial Testing
Key Takeaways from Initial Testing 25 Note: For illustrative purposes only; actual boundaries may vary. • Enriched quantities of almost all REEs detected in every sample • Extremely low sample to sample Rare Earth Elements grade variability • Highly homogenous mineralization and metal distribution •
Slide 26: Initial Property Work Plan and Integrated Technical Studies
Sample Characterization REEs Hosting and Deportment Bench - Scale Leach Testing Fine Particle REEs and Li Extraction Bulk - Scale Leach Testing Coarse Particle REEs and Li Extraction Permeability Testing Hydraulic Conductivity and Geotechnical Desktop Benchmarking and Scoping Study Potential Key Val
Slide 27: Transaction & Valuation Overview
Transaction & Valuation Overview
Slide 28: Illustrative Transaction Overview
Illustrative Transaction Overview Transaction Highlights Deal Structure • Tactical Resources shareholders rolling 100% of their equity and will own a pro - forma equity ownership of 82.1% Valuation • Transaction implies $589M pro - forma fully - diluted enterprise value – Tactical Resources implied
Slide 29: REEs Developers & Producers Market Capitalization
$589 $4,228 $2,149 $1,646 $675 $409 $253 $1,000 $500 $0 $4,500 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 REEs Developers & Producers 29 Market Capitalization ($M) Note: FactSet Data as of 08/21/2024. Financial data in USD. Developers Producers
Slide 30: Resource Based Valuations
Resource Based Valuations 30 WA1 Resources has not released a Rare Earth Element Resource Estimate $1,307 $879 $518 $492 $139 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Average: $667 EV ($) / Resource (Tonnes TREO) Multiples Note: Enterprise Value are retrieved from FactSet as of 08/21/2024. Resour
Slide 31: Valuation Benchmarking – Comparable Assets
㾐 㾐 㾐 Strong Jurisdiction 㾐 X 㾐 Simple Metallurgy 㾐 X 㾐 Simple Geology X 㾐 㾐 Existing Infrastructure X 㾐 㾐 Initial Operating Permits X 㾐 㾐 Feedstock Supply 㾐 㾐 X Feasibility Study $1.6B $2.6B NA NPV (1) Valuation Benchmarking – Comparable Assets 31 Source: Pitchbook Data as of 8/21/2024. (1) Tactica
Slide 32: Risk Factors
Risk Factors This section summarizes certain of the risks that could affect the operations of the Company, Pubco or Tactical and is not exhaustive. The risks described below and the more extensive lists of risk factors set forth in the sections entitled “Risk Factors” in the Company’s Annual Report
Slide 33: Risk Factors
Risk Factors • Tactical’s business may be adversely affected if it is unable to secure additional funds to finance future exploration and development work. • Tactical may be adversely affected by fluctuations in demand for, and prices of, rare earth elements (“REEs”). • The success of Tactical’s bus