Ioneer Limited · ASX:INR
Ioneer — RIU Sydney Resources Round-up 2022
32 slides from Ioneer's conference presentation, May 3, 2022
Slide 1: Investor Presentation: RIU Sydney Resources Round-up
Investor Presentation RIU Sydney Resources Round-up 3 May 2022 Our mission: to provide the materials for a sustainable & thriving planet
Slide 2: Disclaimer
Disclaimer This presentation has been prepared as a summary only and does not contain all information about ioneer Ltds Competent Persons Statement (ioneer or the Company) assets and liabilities, financial position and performance, profits and losses, prospects, In respect of Mineral Resources and O
Slide 3: Content
Content Lithium and Boron Markets Corporate Overview Rhyolite Ridge Project Rhyolite Ridge Project Next Steps Questions ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ioneer.com www.ioneer.com 3
Slide 4: Lithium & Boron Markets
Lithium & Boron Markets ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ioneer.com www.ioneer.com 4
Slide 5: Global Lithium Market Trends
Global Lithium Market Trends Increasing demand Short supply Global lithium demand (LCE kt) Widening deficit in lithium market Lithium demand driven by growth in EVs Underinvestment in lithium supply Strong demand growth coupled with supply shortages are driving higher lithium prices ioneerInvestor i
Slide 6: Forecast US Lithium Market Trends
Forecast US Lithium Market Trends Rhyolite Ridge is ideally positioned to serve the US supply chain +5 OTHER PLANTS With locations TBC 138GWh Gigafactory demand LG CHEM IM3 New York Michigan 32GWh • 2021a 57 GWh / 4 gigafactories PANASONIC, TESLA, 18GWh GIGAFATORY 1 • 2026f - 393GWh / 21 gigafactori
Slide 7: Boron Market
Boron Market Global borates demand by end use The boric acid market Other • Broad range of essential uses mitigates reliance on single sector Borosilicate Glass LCD / TFT • Increasing demand from agriculture, solar, specialty glass 8% and permanent magnets EVs 19% 5% • Total global market of 4.5Mtpa
Slide 8: Boron in the Automotive Industry
Boron in the Automotive Industry The conundrum for our engineers was, how do we give you extra protection without adding extra weight that could cost you fuel savings? They looked to the aerospace industry for the answer and found it in boron steel. https://www.ford.com.au/technology/boron-steel/ Vo
Slide 9: Corporate Overview
Corporate Overview ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ioneer.com www.ioneer.com 9
Slide 10: Corporate Snapshot
Corporate Snapshot Capital Structure Share Price (As at 29 April 2022) SHARES OUTSTANDING 2.09b PERFORMANCE RIGHTS AND OPTIONS OUTSTANDING 36.8m CASH BALANCE (31/03/2021) A$144.2m SHARE PRICE ASX A$0.675 MARKET CAPITALISATION A$1.411b 52 WEEK SHARE PRICE RANGE A$0.27 - A$0.855 Shareholders (28/02/20
Slide 11: The Right Team
The Right Team Board of Directors Management Team BOTTOM OF THE LITHIUM COST CURVE JAMES D. CALAWAY ALAN DAVIES Executive Chairman Non-executive Director JAMES D. FOR END PRODUCTSBERNARD ROWE FORMER: FORMER: CALAWAY PRODUCED AT SITE Managing Director Non-exec chairman of Chief Executive, Energy & Ex
Slide 12: Surrounded by World-Class Partners
Surrounded by World-Class Partners ioneer has invested ~US$100m BOTTOMtoOF date appraising and THE EPCM developing the Project LITHIUM COST CURVE Evaporation and Evaporation and Crystallization Crystallization Acid Plant FOR END PRODUCTS PRODUCED AT SITE Sibanye-Stillwater 50% JV partner in Rhyolite
Slide 13: Rhyolite Ridge Project
Rhyolite Ridge Project ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ioneer.com www.ioneer.com 13
Slide 14: Rhyolite Ridge Lithium-Boron Project
Rhyolite Ridge Lithium-Boron Project INR Location • Esmeralda County, NV Fact Sheet1 • 25km west of Albemarle’s Silver Peak Location Nevada, USA lithium mine Project Stage Bankable Feasibility • Tier-one mining jurisdiction Study Products Li2CO3, LiOH, B Highlights Resources2 146.5Mt • Most advanced
Slide 15: Most Advanced Lithium Project in the US
Most Advanced Lithium Project in the US ON TRACK TO BE CONSTRUCTION READY BY Q4 2022 ~50% DETAILED ENGINEERING COMPLETED. KEY CONTRACTS ARE BEING AWARDED FULL SIMULATION PILOT PLANT THROUGH TO LI CARBONATE AND HYDROXIDE ENVIRONMENTAL BASELINE STUDIES COMPLETED AND ACCEPTED BY BLM BINDING OFFTAKE AGR
Slide 16: Commitment to Sustainability
Commitment to Sustainability Position close to end markets creates an ESG benefit due to shorter supply chains - Majority of on-site power will be met with CO2-free Low emissions energy production, low greenhouse gas emissions. - Mobile equipment meets Tier 4 EPA standards - Project design implement
Slide 17: Next Steps
Next Steps ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ioneer.com www.ioneer.com 17
Slide 18: Key Workstreams
Key Workstreams Additional lithium offtake - US focused US Listing on Nasdaq Project Funding - Government loan program - Project Finance Detailed Engineering - Award of additional contracts - Construction ready Permitting & Environmental - Federal permit - Final Investment Decision Looking east over
Slide 19: Lithium Offtake
Lithium Offtake Lithium Offtake Status Lithium Offtake Strategy • Focused on US EV Supply chain 2,600 tpa • Partner with champions TG ~20,600 tpa LiCO ~7,000 tpa • Diversify supply chain to OEMs • Spread offtake across ~3 parties ~4,000 tpa • Offtakes to support funding – Minimum volumes 7,000 tpa –
Slide 20: US Listing on Nasdaq
US Listing on Nasdaq US Listing Strategy • INR believes: – Rhyolite Ridge is a strategic asset for US lithium supply security – US investors have demonstrated an increasing interest in "Electrification" – Provides opportunity for wider participation in ioneer share ownership from North American inve
Slide 21: Project Funding
Project Funding Funding Strategy • Sibanye-Stillwater is directly funding ~60% of the DFS US$’m estimated capital (US$490m) • Capex spend to FID is funded from existing cash • Ioneer and Sibanye-Stillwater (JV) aiming to jointly secure full Debt debt financing for the Project from either: – U.S. Dep
Slide 22: Detailed Engineering
Detailed Engineering Engineering Status • ~50% detailed engineering complete. Key contracts are being awarded • Continuing engineering effort is focused on further decreasing execution risk, through: – Releasing further engineering and vendor packages/contracts for bid/award – Preparing an updated b
Slide 23: Permitting & Environmental
Permitting & Environmental Permitting Overview - Status of key permits Permitting Process Permit Agency Status Class II Air Quality Permit Nevada Division of • Issued in June 2021 ROD Environmental Protection EIS Draft EIS public Water Pollution Control Nevada Division of • Issued in July 2021 scopi
Slide 24: Key Milestones
Key Milestones Milestone Estimated Timing1 US Listing on Nasdaq 2Q 2022 Announcement of additional lithium 2Q 2022 offtake agreements Resubmission of the Plan of Operations 2Q 2022 Publishing of NOI 2Q 2022 Finalise debt financing 2H 2022 Finalise engineering to ‘construction ready 2H 2022 status’ A
Slide 25: Conclusion & Questions
Conclusion & Questions ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ioneer.com www.ioneer.com 25
Slide 26: Why ioneer?
Why ioneer? THE RIGHT COMMODITIES Lithium carbonate, lithium hydroxide and boric acid THE RIGHT LOCATION Positioned to serve the US EV battery supply chain THE RIGHT TEAM With a proven track record WITH NEAR TERM NEWSFLOW Offtake, US Listing, Debt, Permitting WITH A CLEAR PATH TO PRODUCTION ioneerIn
Slide 27: Contact information
Contact information Bernard Rowe / Ian Bucknell Alex Cowie Matt Dempsey ioneer Ltd NWR Communications FTI Consulting Managing Director / CFO Investor & Media Relations Investor & Media Relations (Australia) (USA) T: +61 419 447 280 / +61 434 567 155 T: +61 412 952 610 T: +1 202 316 9609 E: browe@ion
Slide 28: Thank you
Thank you Our mission: to provide the materials for a sustainable & thriving planet www.ioneer.com
Slide 29: Resources & Reserves
Resources & Reserves BOTTOM OF THE LITHIUM COST CURVE FOR END PRODUCTS PRODUCED AT SITE • Approximately half of the Ore Reserve is classified as Proved • Ore Reserve provides 94% of tonnes in current 26-year mine plan • Total Mineral Resource of 146.5 mt containing a total of 1.2 mt of lithium carbo
Slide 30: Rhyolite Ridge process plant
Rhyolite Ridge process plant Sulphuric Evaporation/ Acid Plant Crystallization Sulphur Vat Leach Plant Supply Lithium Carbonate Circuit Power Plant Ore Handling/ Sizing and Storage Plant Utilities Boric Acid Circuit Reagents ioneerInvestor ioneer InvestorPresentation Presentation ASX : INR www.ionee
Slide 31: History of ioneer's ownership of Rhyolite & development schedule
History of ioneer’s ownership of Rhyolite & development schedule Timing of permitting key driver to development time line 2016 2017 2018 2019 2020 2021 2022 2023 Acquired initial First production of Reserves & Production of Register of NOI interest in Project Boric Acid Resources battery g
Slide 32: Tiehm's buckwheat
Tiehm’s buckwheat Endangered Species Act (ESA) Considerations The protection and conservation of Tiehm’s buckwheat, which is already classified as a Sensitive Species by the BLM, is and always has been a central part of ioneer’s environmental planning and approvals process for the Project. ioneer ha