Slide 1: McDermitt Lithium Project Preliminary Feasibility Study
McDermitt Lithium Project Preliminary Feasibility Study For personal use only Nov 2024
Slide 2: McDermitt Lithium Project Preliminary Feasibility Study (PFS)
McDermitt Lithium Project Preliminary Feasibility Study (PFS) Ian Rodger For personal use only Chief Executive Officer ASX Code JLL QTCQX JNDAF jindaleelithium.com This presentation summarises the results contained within JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium
Slide 3: Warning Statement
Warning Statement This Presentation has been prepared by Jindalee Lithium Limited (“Jindalee,” Shareholders and prospective investors should be aware that the PFS and this Statements in this presentation regarding the Company’s business, which are not “Company” or “JLL”) and is authorized for releas
Slide 4: Empowering American manufacturing and energy security
Empowering American McDermitt is currently the largest lithium deposit in the US and of global significance. McDermitt is ideally situated to plug in to the manufacturing and energy security growing US battery manufacturing industry. $3.23 B(A) 17.9% US$3.02 B $8,080/t LCE(A,F) Post Tax(B) Post Tax(
Slide 5: Who We Are
For personal use only Who We Are
Slide 6: Who We Are
Fully integrated operation to provide Strong board and battery feedstock to US management supply chains ownership Jindalee is dedicated to accelerating America’s immense potential for a clean energy future. For personal use only The McDermitt Lithium Project on the Oregon-Nevada border is the Compan
Slide 7: Company history and milestones
2018 2020 2022 2024 Jindalee stakes McDermitt Lithium Encouraging results from Spin-out of Australian assets as Excellent metallurgical results, with Project; drills 4 "proof of concept" metallurgical testwork, another 1 5 Dynamic Metals (ASX:DYM) to battery grade Lithium Carbonate holes which confi
Slide 8: A remarkable opportunity connected to the American battery value chain
A remarkable opportunity connected to the American battery value chain In 2023, drilling increased McDermitt to 21.5Mt LCE, the largest lithium deposit in the US and a company-making Project(2). For personal use only Project overview McDermitt Caldera is on the Oregon-Nevada border Ideal proximity t
Slide 9: PFS Technical Overview
For personal use only PFS Technical Overview
Slide 10: Key takeaways and next steps
We’re making progress to Our PFS, led by Fluor Corporation and supported by Cube Consulting, demonstrates help the US achieve critical compelling economics justifying the next phase of study; a huge resource with massive upside mineral independence for investors and partners. For personal use only K
Slide 11: Resources & Reserves
Resources & Reserves Limited Resource Conversion (current state) Mineral Resource Estimate (2) Maiden Ore Reserve announced with the PFS results Classification Tonnage (Mt) Li Grade (ppm) Contained LCE (Mt) Reserve is only ~10% of the Resource, presenting a Indicated Resource 1,470 1,420 11.1 signif
Slide 12: Stable mining profile with early access to ore
Stable mining 25 profile with early 20 (1) access to ore Mining Movements (Mt) 15 10 Mining will be by conventional truck and 5 shovel methods, with a free-digging ore body (no blasting) 0 For personal use only 1 6 11 16 21 26 31 36 Ore at surface limits pre-production mining / Years stripping expen
Slide 13: Processing route validated through testwork
Processing route validated Coarse gangue through testwork ~28% mass rejection Tailings Storage ROM Ore Leach Feed Attrition Acid Leaching, Our processing flowsheet consists of standard technology Scrubbing Neutralisation used throughout industry, and has been validated through ~4.8Mtpa of testwork b
Slide 14: Huge asset, high-potential
Huge asset, high-potential Smoothed Annual Lithium Carbonate Production Production forecasts show three distinct periods 50 Highest grade ores are prioritised for early treatment, giving an 45 initial 10 years producing 47.5ktpa of Lithium Carbonate, and a further 30 years producing over 43ktpa aver
Slide 15: Pre-production capital estimate
Pre-production Capital Estimate Area Estimate ($M) Long life process and refining facility drives Process Plant 1,042 capital estimate Acid Plant 517 M cDermitt’s integrated Lithium Carbonate refinery is the majority of the $3.02B capital estimate prepared by Non-Process Infrastructure 358 Fluor For
Slide 16: Sustainable and profitable through the commodity cycles
Sustainable and profitable through the commodity cycles First 10 full years1 Next 30 Years Project Area Share $M p.a. $/t LCE $/t LCE Short-term payback, long-term cash flows Mining and 94 1,970 1,905 21% rehandle Low cost, free dig mining averaging ~$3.50/t of material Process Regeants and 219 4,60
Slide 17: Vrify 3D Presentation
For personal use only Vrify 3D Presentation View in Vrify
Slide 18: Project Economics
For personal use only Project Economics
Slide 19: Key PFS metrics demonstrate encouraging economic outcomes
Key PFS metrics demonstrate Dimension Units First 10 full years Next 30 years Economic eval. period encouraging economic outcomes Pre-tax Post-tax Pre-tax Post-tax Pre-tax Post-tax Lithium carbonate $/t 24,000 price Short-term and long-term opportunities for investors Lithium dry carbonate 475,000 1
Slide 20: Sensitivity Analysis
Sensitivity Sensitivity Analysis Pre Tax Free Cash Flow Sensitivity (±25%) Three key sensitivities tested: Lithium Carbonate Price Revenue Recovery Most sensitive, showing the potential impact of (10% Test) changes in lithium carbonate prices. Typical for most resource projects Opex Opex For persona
Slide 21: Opportunities to further optimise with untapped optionality
Opportunities to Largest LCE Resource in US/North America further optimise with 3500 untapped optionality 3000 2500 mcdermitT Resources (Mt) thacker pass 2000 While the PFS is robust, we have our eye on key clayton valley levers that can further de-risk the Project through 1500 nevada north improvem
Slide 22: Our pathway to production is clear
Our pathway to production is clear For personal use only 21 McDermitt Lithium PFS Presentation Project Economics
Slide 23: A clear roadmap for the required approvals
A clear roadmap for Federal Agencies and Approvals the required approvals Federal Agency Permit / Approval Bureau of Land Management (BLM) Mining Plan of Operations National Environmental Policy Act (NEPA) - Record of Decision Army Corps of Engineers Clean Water Act, section 404 Permit (Waters of th
Slide 24: Pathway forward timeline
Activity Orange bars indicate current critical path Partnerships Baseline Studies NEPA Permitting/ Record of Decision For personal use only Infill Drilling 2029 Pilot Test Work Feasibility Study FEED Project Funding Final Investment Decision 2029 Construction/ Commissioning Operations 2032 2025 23 M
Slide 25: Market momentum for lithium continues with JVs and strategic partnerships
Market momentum for lithium continues with JVs and credible, strategic partnerships Increasing market activity by large players Development Funding Lithium Americas, Thacker Pass Project, ioneer, Rhyolite Ridge Project, Rio Tinto to acquire Arcadium at 90% Premium partners with General Motors partne
Slide 26: Corporations and government agencies are striving to develop the US battery value chain
Corporations and government agencies are striving to develop the US battery value chain We are in a global race to compete in a We will require all essential materials for our For personal use only future where electric propulsion will national security to be produced here in the undoubtedly be a gi
Slide 27: Partnerships will continue to move us along the path to production
Partnerships will continue Partnerships Criteria to move us along the path to production Our PFS, led by Fluor and supported by Cube, gives us et confidence the Project is worth pursuing further, as a ls St huge resource with a massive upside for investors and il ro Sk partners. ng For personal use
Slide 28: Major milestones and catalysts for the year ahead
Major milestones and catalysts for the year ahead For personal use only (Q4) 2024 (Q1) 2025 (Q2) 2025 2025 Further work in 2025 to be considered in parallel with partnership process: Appoint strategic advisors to assist with Commence partnership Large infill exploration partnership process engagemen
Slide 29: Thank you
For personal use only Thank you Further information Ian Rodger jindaleelithium.com +61 8 9321 7550 jindaleelithium.com Chief Executive Officer
Slide 30: Appendix - McDermitt Reserve and Resource tables
Appendix 1 - McDermitt Reserve and Resource tables McDermitt Ore Resource (2023)2 Cut-off Indicated Resource Inferred Resource Indicated and Inferred Resource Grade (ppm Li) Li Grade Li Grade Li Grade Tonnage (Mt) LCE (Mt) Tonnage (Mt) LCE (Mt) Tonnage (Mt) LCE (Mt) (ppm) (ppm) (ppm) For personal us
Slide 31: Appendix - Peer comparison data: North American lithium deposits
Appendix 2 - Peer comparison data: North American lithium deposits Resource Grade (ppm Li and % Cut-Off (ppm Li and % Deposit Owner Stage Resource (Mt) Contained LCE (Mt) Source Category LiO2) LiO2) Measured 535 2450 ppm 7.0 Company Website - Indicated 923 1850 ppm 9.1 Feasibility Study Thacker Pass
Slide 32: Appendix - Peer comparison data (continued)
Appendix 2 - Peer comparison data: North American lithium deposits (continued) Resource Grade (ppm Li and % Deposit Owner Stage Resource (Mt) Cut-Off (ppm Li and % LiO2) Contained LCE (Mt) Source Category LiO2) Measured - - 0.0 Company Website - Technical Report, March Indicated - - 0.0 2024 Resourc
Slide 33: Appendix - Peer comparison data (continued)
Appendix 2 - Peer comparison data: North American lithium deposits (continued) Resource Grade (ppm Li and % Deposit Owner Stage Resource (Mt) Cut-Off (ppm Li and % LiO2) Contained LCE (Mt) Source Category LiO2) Measured - - 0.0 b Company We site - Announcement , August Indicated 80 1.44% 2.9 2024 Sh
Slide 34: Appendix - Peer comparison data (continued)
Appendix 2 - Peer comparison data: North American lithium deposits (continued) Resource Grade (ppm Li and % Deposit Owner Stage Resource (Mt) Cut-Off (ppm Li and % LiO2) Contained LCE (Mt) Source Category LiO2) Measured 20 929 ppm 0.1 Company Website - Accouncement, July 2024 Indicated 122 860 ppm 0
Slide 35: Appendix - Peer comparison data (continued)
Appendix 2 - Peer comparison data: North American lithium deposits (continued) Resource Grade (ppm Li and % Deposit Owner Stage Resource (Mt) Cut-Off (ppm Li and % LiO2) Contained LCE (Mt) Source Category LiO2) Measured 24 1.87% 1.1 Company Website - Indicated - 1.59% 0.0 Technical Report, Whabouchi
Slide 36: Appendix - Peer comparison data (continued)
Appendix 2 - Peer comparison data: North American lithium deposits (continued) Resource Grade (ppm Li and % Deposit Owner Stage Resource (Mt) Cut-Off (ppm Li and % LiO2) Contained LCE (Mt) Source Category LiO2) Measured - - 0.0 Company Website - Indicated - - 0.0 Technical Report, West Tonopah OTCQB
Slide 37: Appendix - Peer comparison data (continued)
Appendix 2 - Peer comparison data: North American lithium deposits (continued) Resource Grade (ppm Li and % Deposit Owner Stage Resource (Mt) Cut-Off (ppm Li and % LiO2) Contained LCE (Mt) Source Category LiO2) Measured - - 0.0 Company Website - Announcement, September Indicated 15 1940 ppm 0.2 2019
Slide 38: Appendix 3: Partnership transactions
Appendix 3: Partnership transactions Table 1: Recent Table examples 1: Recent of North examples American of North lithium American strategic lithium partnerships strategic partnerships Company Strategic Total Date Location Stage Metal Funding & Structure Status Ref (Project) Partner Funding Corporat
Slide 39: Appendix 3: Partnership transactions (continued)
Appendix 3: Partnership transactions (continued) Table 1: Recent examples of North American lithium strategic partnerships (continue) Company Strategic Total Date Location Stage Metal Funding & Structure Status Ref (Project) Company Partner Strategic Funding Total Date Location Stage Metal Funding &
Slide 40: Appendix 3: Partnership transactions (continued)
Appendix 3: Partnership transactions (continued) Table 2: Recent US Government Critical Minerals Debt Funding Precedents Company Strategic Total Date Location Stage Metal Funding & Structure Status Ref (Project) Funding Partner Funding Date Company Location Metal Terms US Entity Scope Status Comment
Slide 41: Appendix - References
Appendix 3 - References: A) https://rhyolite-ridge.ioneer.com/sibanye-stillwater-to-invest-us490m-in- I ) https://lithiumamericas.com/news/news-details/2024/ Unlock ing- rhyolite-ridge/ Thac k er-Pass-General- M otors-to-Contribute-Combined-625- Million-in- B) https://www.listcorp.com/asx/inr/ioneer
Slide 42: Appendix - Additional Information
Appendix 4 - Additional Information JLL ASX Announcement References 19/11/2024, “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate. 27/02/2023, “Resource at McDermitt increases to 21.5 Mt LCE" 13/02/2023, “MOU Executed with POSCO Holdings 16/09/2024 “Jindalee Secures Strategic Agreement wi
Slide 43: Appendix - Competent Persons Statements
Appendix 5 - Competent Persons Statements The information in this announcement that relates to the Maiden Ore Reserves for the McDermitt Lithium Project has been extracted from Jindalee’s ASX announcement 19 November 2024 titled “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate.” The info