Silex Systems Limited · ASX:SLX
Silex Systems — Shareholder Meeting (November 2024)
34 slides from Silex Systems's shareholder meeting presentation, Nov 22, 2024
Slide 1: Silex Systems Limited 2024 Annual General Meeting
Silex Systems Limited For personal use only 2024 Annual General Meeting 22 November 2024 (ASX: SLX) (OTCQX: SILXY) Dr Michael Goldsworthy CEO/Managing Director www.silex.com.au www.silex.com.au 1
Slide 2: Forward Looking Statements and Risk Factors
Forward Looking Statements and Risk Factors About Silex Systems Limited (ASX: SLX) (OTCQX: SILXY) Silex Systems Limited ABN 69 003 372 067 (Silex or Company) is a technology commercialisation company whose primary asset is the SILEX laser enrichment technology, originally developed at the Company’s
Slide 3: Our Mission: commercialise the SILEX laser enrichment technology
Our Mission: to commercialise the unique SILEX laser enrichment technology for application to: For personal use only Uranium production and Silicon enrichment Medical isotope enrichment enrichment (silicon quantum computing) (new cancer therapies) (nuclear power) Our strategy is focused on extractin
Slide 4: Evolution of Enrichment Technology
Evolution of Enrichment Technology 1st Generation Technology 2nd Generation Technology 3rd Generation Technology For personal use only Gaseous Diffusion Centrifuge SILEX Laser Very low efficiency – tails legacy Modest efficiency High efficiency and throughput High cost Moderate cost Anticipated to b
Slide 5: Recent Highlights and Developments
Recent Highlights and Developments Global Laser Enrichment (GLE) / SILEX Uranium Enrichment Technology Project: • GLE’s owners (51% Silex and 49% Cameco) continue to support accelerated activities in GLE’s CY2024 plan and budget for the SILEX uranium enrichment technology full-scale pilot demonstrat
Slide 6: Primary Focus on GLE Commercialisation
Primary Focus on GLE Commercialisation Uranium production and enrichment for nuclear fuel For personal use only • Global nuclear fuel industry undergoing disruptive bifurcation, intensifying the nuclear renaissance in the Western world • GLE and Silex commercialising SILEX technology under favourabl
Slide 7: SILEX Uranium Enrichment Technology: Triple Opportunity for Silex and GLE
For personal use only SILEX Uranium Enrichment Technology: Triple Opportunity for Silex and GLE www.silex.com.au www.silex.com.au 7
Slide 8: Nuclear power is a leading source of carbon-free base load electricity
Nuclear power is a leading source of carbon-free base load electricity Clean Energy, Net Zero 2050 For personal use only Advanced Reactors, including SMRs Low Cost LCOE ~US$70/MWhr1 NUCLEAR 24/7 Reliability and Base Load Stability POWER Highest Capacity Factor (> 93% in the US) Clean Electricity for
Slide 9: Nuclear Renaissance – Latest Industry Developments
Nuclear Renaissance – Latest Industry Developments 31 Countries Sign Declaration to Triple Nuclear Power Capacity by 20501 United States United Kingdom Asia European Union For personal use only • billions of dollars to • Japan continues to restart • launched roadmap in • defined nuclear power as rei
Slide 10: Significant Nuclear Power Growth to achieve Net Zero by 2050
Significant Nuclear Power Growth to achieve Net Zero by 2050 Growth in Primary Energy World Nuclear Power Reactor Population Renewables Hydro For personal use only Nuclear Coal Natural gas Current Trajectory to 2050 Net Zero to 2050 Oil 0% 50% 100% 150% 200% 250% 300% 350% 400% Source: BP Energy Out
Slide 11: World's Largest Producers of Nuclear Power
World’s Largest Producers of Nuclear Power Conventional Large-Scale Reactor Population Total Operable Reactor Units (Top 10) USA 94 (96,952 MWe) For personal use only China 57 (55,762 MWe) France 56 (61,370 MWe) Russia 36 (26,802 MWe) Total of 439 Operable Japan 33 (31,679 MWe) Reactors Worldwide So
Slide 12: GLE may help address US Uranium and Enrichment Vulnerability
GLE may help address US Uranium and Enrichment Vulnerability US currently imports ~95% of its uranium requirements and ~70% of its enriched uranium requirements: Uranium purchased by owners and operators of U.S. civilian nuclear power reactors, 2013-2023 Enrichment purchased by owners and operators
Slide 13: Emerging Nuclear Fuel Supply Opportunities for GLE
Emerging Nuclear Fuel Supply Opportunities for GLE For personal use only Uncovered U.S. Demand Uncovered US Uncovered US SWU Requirements Uncovered US Uranium Uranium Requirements Requirements Source: UxC Uranium Market Outlook, Q3, 2024 Source: UxC Enrichment Market Outlook, Q3, 2024 • Forecast unc
Slide 14: Nuclear Fuel Supply Chain and Evolving Issues
Nuclear Fuel Supply Chain and Evolving Issues The Nuclear Fuel Supply Chain For personal use only SILEX/GLE Opportunities Issues facing the Global Nuclear Fuel Supply Chain: • Western supply chain recent history – curtailments and under-investment in resources and production capability • Supply chai
Slide 15: US and EU Nuclear Fuel Requirements Supplied by Russia
US and EU Nuclear Fuel Requirements Supplied by Russia Russian Share of Global EU Nuclear Fuel US Nuclear Fuel Production Capacity1 Supplied by Russia2 Supplied by Russia1,3 Uranium (U3O8) ~14% ~17% ~12% For personal use only Conversion ~22% ~22% ~18% Enrichment (SWU) ~44% ~30% ~27% • Major concerns
Slide 16: Favourable Nuclear Fuel Market Price Trends
Favourable Nuclear Fuel Market Price Trends Uranium Price Conversion Price Enrichment (SWU) Price US$/lb US$/kgU US$/SWU $120.00 $80.00 $200.00 U3O8 LT U3O8 NA NA LT Spot LT SWU Spot Conv Conv $180.00 SWU $70.00 $100.00 $160.00 $60.00 $140.00 $80.00 For personal use only $50.00 $120.00 $60.00 $40.00
Slide 17: US Support for GLE's Commercialisation Activities
US Support for GLE’s Commercialisation Activities US Government policies support nuclear as a critical energy source: Inflation Reduction Act Nuclear Fuel Security Prohibiting Russian Accelerating For personal use only (IRA) passed in August Act (NFSA) passed in Uranium Imports Act Deployment of 202
Slide 18: Status of Technology Pilot Demonstration Project
Status of Technology Pilot Demonstration Project1 Significant progress towards pivotal TRL-6 technology demonstration continues Integrated TRL-6 Pilot Demonstration Facility: For personal use only SILEX Technology Process Diagram • Integrated large-scale Pilot Demonstration Facility built and commis
Slide 19: GLE's Tentative Timeline for Commercialisation of SILEX technology
GLE’s Tentative Timeline for Commercialisation of SILEX technology1 2024 2025 2026 2027 2028 2029 2030 T ETCEHCNHONLO OLGOYGM YAT MU ATR AT U RI AT O NI O TRNL - TRL-62 3 T R L7 -, 87 ,A8NADNM D RML R - 7L, 8 - 7, 9, 8 , 9 3 For personal use only 4 5 UUSS NNRRCC4 PPLLA ANNT T L LIIC CEENNCCEE FFOOR
Slide 20: GLE's PLEF Commercial Plant Opportunity
GLE’s PLEF Commercial Plant Opportunity The PLEF Triple Opportunity Paducah Laser Enrichment Facility (PLEF) – an opportunity to deploy the SILEX technology in the US: • PLEF UF6 Production: Production of up to 5 million pounds (equivalent) natural grade uranium (as UF6) annually for up to 30 years
Slide 21: GLE's Potential PLEF Commercial Plant Opportunities
GLE’s Potential PLEF Commercial Plant Opportunities* For personal use only Source: GLE - PLEF Potential Commercial Plant (conceptual only) * Dependent on various factors, including, but not limited to technology demonstration outcomes, market conditions, licensing, industry and government support, P
Slide 22: GLE PLEF Process streams – NUF6 and LEU Production
GLE PLEF Process streams – NUF6 and LEU Production For personal use only * * ** Potential to further enrich LEU to LEU+ and HALEU * DUF6: Depleted UF6 www.silex.com.au ** DDUF6: Double Depleted UF6 www.silex.com.au 22
Slide 23: PLEF UF6 Production Opportunity
PLEF UF6 Production Opportunity (Natural UF6 production from tails) Akin to a ‘Tier 1’ Aim to commence Equivalent U3O8 Uranium Resource** Production For personal use only initial commercial Based on low cost and operations ahead of longevity of production Up to 5 million lbs p.a. for up to 30 years
Slide 24: GLE's Commercialisation Activities: Paducah site characterisation
GLE’s Commercialisation Activities for the SILEX technology 1 Paducah, KY site characterisation activities: For personal use only • Progressing NRC license application for the PLEF • GLE has commenced site characterisation work at the Paducah, KY site, for the NRC license 1. 1. GLE’s progress to com
Slide 25: GLE corporate and classified manufacturing facility in Wilmington, NC
GLE’s Commercialisation Activities for the SILEX technology1 Completion of GLE corporate and classified manufacturing facility in Wilmington, NC: For personal use only GLE HQ and Classified Manufacturing Facility – Wilmington, NC 1. 1. GLE’s progress to commercialisation is dependent on several fact
Slide 26: GLE Value Proposition for Silex
GLE Value Proposition for Silex* 1) GLE Equity – Minimum 25%: • Silex currently holds 51% – Cameco has a call Option to acquire an additional 26% at fair market value • Option window opened 1 February 2023 – closes 30 months after successful TRL-6 demonstration For personal use only • Silex has a si
Slide 27: Quantum Silicon for Quantum Computing – transition to commercial production
For personal use only Quantum Silicon for Quantum Computing – transition to commercial production www.silex.com.au www.silex.com.au 27
Slide 28: Quantum Computing, Artificial Intelligence and Quantum Silicon
Quantum Computing, Artificial Intelligence and Quantum Silicon Global race to develop world’s first Quantum Computers: • Quantum Computing (QC) will be many times more powerful than today’s conventional computers and will support the emerging world of Artificial Intelligence (AI) • QC and AI will cr
Slide 29: Silex Q-Si Production Project
Silex Q-Si Production Project • Quantum Silicon (Q-Si) Production Project announced August 2023 being undertaken with partners, Silicon Quantum Computing Pty Ltd (SQC) and UNSW Sydney (UNSW) to establish the first commercial Q-Si Production Plant module • Project leverages the successful pilot demon
Slide 30: Quantum Silicon (Q-Si) for Quantum Computing
Quantum Silicon (Q-Si) for Quantum Computing Q-Si Project For personal use only Front-end process SILEX Enriched Silicon production Back-end process Raw Silicon SILEX Enrichment Pure Q-Si Q-Si Quantum Chips www.silex.com.au www.silex.com.au 30
Slide 31: Medical Isotope Separation Technology (MIST) Project
For personal use only Medical Isotope Separation Technology (MIST) Project www.silex.com.au www.silex.com.au 31
Slide 32: MIST Project
MIST Project MIST Project aiming to develop a process to enrich Ytterbium-176 (Yb-176) for production of Lutetium-177 (Lu-177) MIST project for Yb-176 production • Lu-177 - based radiotherapy represents a breakthrough development for the diagnosis and treatment of some aggressive metastatic cancers
Slide 33: Summary
Summary • GLE’s path to market is underpinned by the PLEF UF6 Project for cost effective production of natural uranium (in the form of UF6) and significant value of Conversion contained in DOE’s legacy depleted UF6 tails inventories • ‘Triple Opportunity’ includes potential to add SILEX production c
Slide 34: Thank you
For personal use only Thank you www.silex.com.au www.silex.com.au 34