Vital Metals Ltd · ASX:VML
Vital Metals — Investor Presentation (May 2022)
34 slides from Vital Metals's investor presentation, May 24, 2022
Slide 1: Becoming Canada's First Rare Earths Producer
For personal use only Becoming Canada’s First Rare Earths Producer Company Presentation May 2022 ASX: VML
Slide 2: Disclaimer
Disclaimer 2 For personal use only This presentation provides an overview of prospective rare earth projects (“the Projects”) and development opportunities and contains “forward looking statements”. Forward-looking statements are all statements other than statements of historical fact included in th
Slide 3: Guaranteeing Feedstock to the Global Rare Earths' Supply Chain
Vital Metals: Guaranteeing Feedstock to the Global Rare Earths’ Supply Chain For personal use only The Problem USA and Europe need a diversified and transparent supply of Rare Earths to ensure decarbonization targets are met The Solution Vital’s Nechalacho project is the only North American rare ear
Slide 4: Highlights
Highlights 4 For personal use only Vital is about to commence production of RE Carbonate, building the capability to be the only North American REO asset capable of supplying both HREO and LREO World Class REO Development Team with Proven World Class Projects Track Record • Executive and Senior Mana
Slide 5: Company Overview
Company Overview 5 For personal use only VML Share Price Performance Production Status Market Cap A$250m (at 29 March 2022) Contained Critical > 300kt NdPr Minerals > 15kt TbDy Binding - RE Carbonate containing 750t/yr NdPr Off-Take Option - RE Carbonate containing 3,750t/yr NdPr by 2028 NdPr Oxide
Slide 6: Board and Senior Management
Board & Senior Board and Management Senior Management 6 For personal use only GEOFF JAMES LOUISA ATKINS HERNDERSON MARTINO Managing Non-Executive Company Secretary Director Director 25 years of project and corporate development experience Over 35 years experience in providing financial advisory MsMa
Slide 7: The Importance of Rare Earth Elements
The Importance of Rare Earth Elements. 7 For personal use only A critical enabler of future facing decarbonisation applications and technologies Company Presentation May 2022
Slide 8: Vital's Strategic Importance
Vital’s Strategic Importance 8 For personal use only Vital’s Nechalacho project has capacity to satisfy US 2026 requirements for both light and heavy rare earths USA Rare Earth Strategic Developments • Rare Earth production (HREO and LREO) dominated by China • North America currently contains no rar
Slide 9: Strategic Location
Location: Canada Strategic Location 9 For personal use only Well positioned in Canada to supply customers in Europe, North America and Asia Vital is well positioned in Canada to supply customers in Europe, North America and Asia ASIA EUROPE Nechalacho Saskatoon RE Carbonate Production 5 Company Pres
Slide 10: Off-take Partnerships in place
Off-take Partnerships in place 10 For personal use only Vital has signed off-take agreement with the most advanced new separation facilities entering Europe and North America REEtec DOA REEtec Option Ucore MOU Europe North America 7,000 REEtec - Norway Off-Take Volume (t/yr REO ex Cerium) Ucore - US
Slide 11: About REEtec
About REEtec 11 For personal use only Vital Metals and REEtec enabling a clean, transparent and competitive Magnet Metals value chain REEtec building separation plant in Norway for making NdPr, Tb and Dy oxides for the permanent magnet market, using raw material from Vital Metals in Canada Company P
Slide 12: About REEtec
About REEtec 12 For personal use only REEtec have successfully operated an industrial scale separation facility since 2019 • Industrial scale facility represents a single, full scale train which has successfully operated since 2019. • Successfully operating a full scale greatly reduces process and s
Slide 13: The Importance of Rare Earth Elements
The Importance of Rare Earth Elements 13 For personal use only Vital will supply feedstock for the rare earth supply chain Company Presentation May 2022
Slide 14: Vital's Stage Development Strategy
Vital’s 3 Stage Development Strategy 14 For personal use only Vital’s development strategy has seen production commence in 2021 with significant expansion plans underway Stage 1: Foundations:Establish Customer Acceptance Nechalacho North T - Production Underway (first mine in Canada) • REO productio
Slide 15: Traditional rare earth construction and ramp-up profile
Traditional rare earth construction 15 and ramp-up profile For personal use only The traditional development approach has historically resulted in returns not being achieved for 8-10 years after the commencement of construction • Due to the complex nature of rare earth production, particularly when
Slide 16: Vital's innovative model
Vital’s innovative model 16 For personal use only Vital is implementing an agile development platform which has the flexibility to match customer demands whilst increasing returns • Vital’s business model is built around the ability to be flexible. • Vital’s strategy commences customer qualification
Slide 17: Achievements and demonstrated capability
Achievements Achievements and demonstrated capability 17 For personal use only Over the past 2 years Vital has demonstrated its capabilities by bringing the Nechalacho Over the past two years Vital has demonstrated its capabilities by bringing Nechalacho North North T project into operation despite
Slide 18: Outlook
18 OutlookOutlook For personal use only 2022 2022 will will see see Vital Vital complete its transformation complete its transformation into into aarare rareearth earthproducer producer Rare earth carbonate First deliveries to customers production to and the commencement of the commence final stage
Slide 19: Implementation Stage 1: Building the Foundations to Success
For personal use only Implementation Stage 1: Building the Foundations to Success > Nechalacho North T > Mining Operations commenced April 2021 > Product bagged and ready to ship for further processing > Expansion to be funded from the sale of Mixed RE Carbonate Company Presentation May 2022
Slide 20: Nechalacho Project
Nechalacho Project 20 For personal use only Company Presentation May 2022
Slide 21: Demonstrated Capability
Demonstrated Capability 21 For personal use only 2021 Mining and sorting operations have been completed Company Presentation May 2022
Slide 22: Saskatoon Rare Earth Extraction Facility
Saskatoon Rare Earth Extraction Facility 22 For personal use only Vital’s Rare Earth Extraction Facility is on track for first feed in June 2022 • Construction is advancing on Vital’s Rare Earth Extraction Facility in Saskatoon, Saskatchewan, Canada • All major processing equipment has been procured
Slide 23: Implementation Stage 2: Expansion and Growth
For personal use only Implementation Stage 2: Expansion and Growth > Long term growth and expansion through the development of Tardiff and Wigu Hill projects > Over 1Mt contained rare earths > Production targeted to commence 2025 > Expansion to be funded from the balance and debt funding Company Pre
Slide 24: Stage - Expansion and Growth
Stage 2 - Expansion and Growth 24 For personal use only The Nechalacho project contains over 1.3Mt of contained rare earths, providing opportunities for significant expansion HREO NdPr:TREO Resource Classification MT TREO (%) (%) (%) Measured 2.914 1.468% 0.142% 24.9% Indicated 14.662 1.508% 0.161%
Slide 25: Nechalacho - Tardiff Development & Growth Model
Nechalacho - Tardiff Development & 25 Growth Model For personal use only Tardiff forms the basis for a growth strategy for large scale, long life light and heavy rare earth production Modular Development • Tardiff will be development in a modular fashion, commencing at Tardiff Zone 1, before expansi
Slide 26: Production at Scale
Production at Scale 26 For personal use only Vital's resources contain over 300,000 tonnes of NdPr and 15,000 tonnes of TbDy providing the potential to satisfy significant demand growth in both light and heavy rare earths Tardif Kipawa* US$/kg North T1 Tardif1 Kipawa2 (1 April 2022)3 % REO $/kg % RE
Slide 27: Wigu Hill Project
Tanzania ² Wigu Hill (90%) Wigu Hill Project 27 For personal use only The Wigu +LOO3URMHFW LVWDUJHWHGDV90/·VVHFRQGUDUHHDUWKSURMHFWWRHQWHUSURGXFWLRQ The Wigu Hill Project (90%) is targeted as VML’s second rare earth project to enter production Excellent Infrastructure Rail andInfrastructure Excelle
Slide 28: Implementation Stage 3: Heavy Rare Earth Production
For personal use only Implementation Stage 3: Heavy Rare Earth Production > Targeting to be the only supplier of commercial quantities of both light and heavy rare earth feedstock > Two project under consideration • North T Xenotime - North West Territories • Kipawa rare earth project - Quebec Compa
Slide 29: Canada - North T Xenotime
Canada ² North Canada - North T T Xenotime 29 For personal use only North T's xenotime zone, which sits adjacent to the bastnaesite zone, provides the best opportunity for a near term supply of heavy rare earths &XWRႇ*UDGH CeO2 Y2O3 Xenotime Resource Tonnage Y2O3 % % Indicated >0.1% 346,270 0.156% 0
Slide 30: Canada - Kipawa
Canada ² Kipawa Canada - Kipawa 30 For personal use only The Kipawa project provides the potential for a long-term supply of heavy rare earths TREO Kipawa Reserve * Tonnage % Proven 10,218,867 0.440% Probable 9,550,047 0.379% Total 19,768,914 0.411% * Refer foreign estimate cautionary statement on p
Slide 31: Conclusion
Conclusion 31 For personal use only Vital is the only new producer with the combination of strategy, growth opportunity and demonstrated capability to satisfy the demands of a diversified rare earth supply chain Rare Earth Expertise Innovative Business Model Strategic Opportunity • VML has the team
Slide 32: Contact us
For personal use only Contact us Geoff Atkins Managing Director vital@vitalmetals.com.au +61 2 8823 3100 Company Presentation May 2022
Slide 33: Appendix
For personal use only APPENDIX 26
Slide 34: Saskatoon Plant Flowsheet
Saskatoon Plant Flowsheet Saskatoon Extraction Plant For personal use only 9LWDO·V rare earth Extraction Plant is on track for first product produced mid-2022 16 Company Presentation May 2022