Vulcan Energy Resources Ltd. · ASX:VUL
Vulcan Energy Resources — Shareholder Meeting (May 2024)
25 slides from Vulcan Energy Resources's shareholder meeting presentation, May 24, 2024
Slide 1: Annual General Meeting - Managing Director & CEO Presentation
For personal use only ANNUAL GENERAL MEETING FRIDAY 24 MAY MANAGING DIRECTOR & CEO PRESENTATION 1
Slide 2: Disclaimer
DISCLAIMER1 Disclaimer, Acknowledgement and Agreement. Vulcan, to the maximum extent permitted by law, expressly excludes and disclaims all liability (including, without limitation, any liability arising out of fault or negligence on the part of any person) for any direct, indirect, consequential or
Slide 3: Empowering a Carbon Neutral Future
For personal use only EMPOWERING A CARBON NEUTRAL FUTURE ASX/FSE Prime VUL Standard Shares ~172m on issue Cash €47.8m at 31 March 2024 CLIMATE CHAMPION Market Cap1 ca. €590m (A$953m) Dr Francis Wedin ~10% Top shareholders Stellantis HPPL ~7% ~5% DETERMINED Note(s): 1 As at 23 May 2024, ASX closing p
Slide 4: Vulcan: A Snapshot
VULCAN: A SNAPSHOT Vulcan’s unique Zero Carbon Vulcan in figures1 Lithium Project to produce both renewable geothermal For personal use only €3.9bn 27.8% €100m energy, and lithium hydroxide Pre-tax NPV Pre-tax IRR Approx. CAPEX saved in Phase One Bridging Study for electric vehicle (EV) batteries fr
Slide 5: Most Recent Developments
MOST RECENT DEVELOPMENTS For personal use only Vulcan A$200 million awarded the Topping-Out Letter of Felicity 2024 Ruggero Ceremony, Support Gooding joins Bertani marking the Completion of Commissioning received from Positive Vulcan as Geothermal highest point Positive of LEOP after Export Bridging
Slide 6: Leadership, Technical Depth Across Key Functions
LEADERSHIP, TECHNICAL DEPTH ACROSS KEY FUNCTIONS Cris Moreno Managing Director & CEO For personal use only DEVELOPMENT EXECUTION PRODUCTION Thorsten Weimann Carsten Bachg Dr. Christian Tragut Chief Development Officer Vice President Project Execution Vice President Production Relevant regional exper
Slide 7: Highly Experienced Leadership
HIGHLY EXPERIENCED LEADERSHIP Major project, technical and finance experience at Board and Executive level For personal use only Dr Francis Wedin Gavin Rezos Josephine Bush Executive Chair, Founder Deputy Chair Non-Executive Director Cris Moreno Ranya Alkadamani Dr Heidi Grön Managing Director & CEO
Slide 8: Investment Highlights
INVESTMENT HIGHLIGHTS Renewable energy and ZERO CARBON LITHIUM business Pricing stability: Offtakes with Tier One automotive and battery customers For personal use only First quartile lithium production costs1: Integrated production of heat and lithium by-design, reducing waste, utilising surplus he
Slide 9: Tier One Customers Drive Pricing Stability
TIER 1 CUSTOMERS DRIVE PRICING STABILITY European customers, with lithium from Europe, for Europe Low counterparty risk: high quality European-focussed offtake partners For personal use only Long term relationships: all offtake agreements binding, take-or-pay, with agreed pricing mechanisms, 5-10 ye
Slide 10: Integrated Business, Competitive Advantage
INTEGRATED BUSINESS, COMPETITIVE ADVANTAGE Use of renewable heat enables lower costs and CO2 Fully integrated renewable energy generation and lithium hydroxide production For personal use only Simplified two-stage process from lithium rich brine to battery-ready product Industry proven Adsorption-ty
Slide 11: Highly Efficient Supply Chain
Höchst Chemical Park Central Lithium Plant HIGHLY EFFICIENT SUPPLY CHAIN planned location Outstanding location, close to customers Frankfurt 130km covers Vulcan’s entire process, from wellsite to battery-ready product For personal use only 20km GERMANY Lithium plant located in Frankfurt’s Höchst Ind
Slide 12: Efficient Production = 1st Quartile Cost Curve Position
EFFICIENT PRODUCTION = 1ST QUARTILE COST CURVE POSITION Leveraging waste renewable heat creates lowest quartile cost of lithium production Global projected 2035 lithium hydroxide C1 cost curve For personal use only Non-integrated Mica Integrated Mica Integrated Spodumene - RoW Brine Non-integrated S
Slide 13: European Lithium Market
EUROPEAN LITHIUM MARKET Vulcan well placed to supply a structurally short European LHM market For personal use only Global supply for LHM looks challenged from 2025 onwards Global Supply / Demand Balance European LiOH Supply vs Demand Supply/demand balance even more acute in Europe, which finds itse
Slide 14: Fast-Tracking Product Qualification: LEOP
FAST-TRACKING PRODUCT QUALIFICATION: LEOP Europe’s first fully-domestic production of lithium chemicals1 Production of LiCl began in April 2024, using Adsorption-Type DLE For personal use only Early results up to 95% lithium extraction efficiency Operational readiness: LEOP will train staff and opti
Slide 15: Fast-Tracking Product Qualification: CLEOP
FAST-TRACKING PRODUCT QUALIFICATION: CLEOP Downstream: Central Lithium Electrolysis Optimisation Plant Located 15km from Frankfurt, Vulcan’s downstream optimisation pant “CLEOP” For personal use only will focus on training and optimisation ahead of the construction of the commercial-sized lithium pl
Slide 16: Technological Edge
TECHNOLOGICAL EDGE Making commercial lithium production technology better For personal use only VULSORB® is a specially tailored lithium production technology for lithium-ion adsorption, highlighting Vulcan’s substantial in-house technological capability Highest performance lithium production techno
Slide 17: Outstanding In-House Execution Capability
OUTSTANDING IN-HOUSE EXECUTION CAPABILITY The very best in technical capability and partnerships Vulcan’s in-house execution team draws upon decades of experience gained For personal use only within the worlds largest engineering, chemical and oil and gas firms In-house technical excellence, with th
Slide 18: Sustainability Leader by Design
SUSTAINABILITY LEADER BY DESIGN Ca. 14 tonnes CO2 avoided for every tonne of lithium produced1 For personal use only Certified Carbon Alignment with TCFD UNGC Member, TNFD Forum Neutral International & UN Sustainable Member and VCMI Organisation from 2021 Development Goals Stakeholder Forum Member E
Slide 19: Growth Pipeline to Increase Production
Höchst Chemical Park Central Lithium Plant GROWTH PIPELINE planned location Frankfurt 20km TO INCREASE PRODUCTION THROUGH EU’S LARGEST LITHIUM RESOURCE1 For personal use only Vulcan’s URVBF consists of a consistent sedimentary GERMANY Mannheim geothermal lithium reservoir across 16 licences covering
Slide 20: Launch of Final Stage Financing Process
LAUNCH OF FINAL STAGE FINANCING1 PROCESS Financing Partners Strong support from public and private sector Launch of the final phase project level debt and equity funding process, For personal use only with significant indicative support from Tier-1 financing partners and export credit agencies (“ECA
Slide 21: European Critical Raw Materials Act in Force
EUROPEAN P18TH 2024 EUROPEAN CRITICAL RAW MATERIALS ACT (CRMA) IN FORCE Vulcan is ready and well-placed Strategic Project Status - CRMA For personal use only The CRMA came into force on 23 May 2024 The CRMA will ensure the EU has access to a secure ✓ Scale of meaningful contribution to the security
Slide 22: Key Upcoming Milestones
KEY UPCOMING MILESTONES Transformational period as we move towards commercial production For personal use only First downstream LHM production from the optimisation plant Final decision(s) on public funding (grant) approval processes Finalisation of the equity portion of the Project financing packag
Slide 23: Thank you / Danke Schön
For personal use only Thank you / Danke Schön Investor Relations (Global) Kurt Walker @VulcanEnergyRes Head of Investor Relations kwalker@v-er.eu www.v-er.eu
Slide 24: Appendix 1: Disclaimer
APPENDIX 1: DISCLAIMER No investment or financial product advice. This Presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product or investment advice, or a recommendation to acquire Vulcan Shares, nor does it constitute, and is not in
Slide 25: Appendix 1: Disclaimer Cont.
APPENDIX 1: DISCLAIMER CONT. Ore Reserves and Mineral Resources Reporting. It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Resources and Ore Re
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