Liontown Limited · ASX:LTR
Liontown — Liontown Resources — Investor Presentation (September 2020)
32 slides from Liontown's investor presentation, Sep 30, 2020
Slide 1: Advancing a world-class lithium deposit and an emerging gold-PGE-nickel project
For personal use only Advancing a world-class lithium deposit and an emerging gold-PGE-nickel project ______________________________ ASX : LTR |September 2020
Slide 2: Important Information
Important Information For personal use only Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. The information in this report that relates to 2020 metallurgical test work for the Kathleen Valley Although the Company believes the exp
Slide 3: Liontown Overview
Liontown Overview Kathleen • World class resource Valley • 156Mt @ 1.4% Li2O & 130ppm Ta2O5 Kathleen Valley Lithium Project For personal use only • 80% Measured and Indicated • Potential long life (>25 years) mine • Significant opportunities to build on previous positive PFS: Moora Ni-Cu- o Access h
Slide 4: Kathleen Valley Lithium-Tantalum Project
Kathleen Valley Lithium- For personal use only Tantalum Project WESTERN AUSTRALIA 100%
Slide 5: A Tier lithium resource
A Tier 1 lithium resource Australian Hard Rock Lithium Operations and Advanced Projects For personal use only 3.00 Li2O Grade % Greenbushes Tianqi/Albemarle 2.50 Kathleen Valley Mt Marion 2.00 (MinRes/Ganfeng) Pilgangoora (Pilbara Minerals) Wodgina (Min Res/ Finnis (Core) Albermarle) 1.50 1.00 Mt Ho
Slide 6: A Globally Significant Deposit
A Globally Significant Deposit World Hard Rock Lithium (Spodumene-dominant) Operations and Advanced Projects – % Attributable Resources by Company Ownership For personal use only Liontown owns the world’s 4th largest hard rock (spodumene) lithium resource base % *Refer to Appendix (Slides 27 and 28)
Slide 7: May 2020 MRE – 108% growth in tonnes and 119% growth in contained lithium
May 2020 MRE –108% growth in tonnes and 119% growth in contained lithium 80% Measured and Indicated W N 1,700m SE Cut-off Resource Million Ta2O5 Li2O% Li2O% Category Tonnes (ppm) For personal use only Measured 20 1.3 140 600m 0.55 Indicated 105 1.4 130 600m Inferred 32 1.3 110 Total 156 1.4 130 W 12
Slide 8: December 2019 PFS Key Metrics | Open-pit mining and lithium only
December 2019 PFS Key Metrics | Open-pit mining and lithium only Based on Jul 2019 MRE – 74.9Mt @ 1.3% Li2O A$ For personal use only SC6.1: Mining: Reserve: Life of Mine Total Free Cash 295Ktpa 2Mtpa 50Mt @ 1.2% Li2O 26 years Flow +$1.9B NPV1 $507M IRR 25.1% Payback Period ~4 YEARS Opex2 $564/t conc
Slide 9: Updated PFS – Input Criteria Underground & Optimised
Updated PFS – Input Criteria 1 Underground & Optimised New, larger MRE will underpin future Open Pit Mining feasibility studies • Access higher grades sooner For personal use only • Reduce unit costs by: o Lowering mine dilution o Increasing concentrate production • Shorten payback 2 Process Improve
Slide 10: Updated PFS – Proposed Processing Flowsheet
Updated PFS – Proposed Processing Flowsheet 2020 Test Work Outcomes • WOF produces higher grade concentrate compared with conventional DMS/Flotation For personal use only process. • Tantalum recovery of 56% at a grade of 15.3% Ta2O5 achieved. • Tantalum mineralogy appears suitable for upgrade of con
Slide 11: The longer-term fundamentals remain strong
The longer-term fundamentals The rise of lithium batteries remain strong continues January 2020: For personal use only China extends subsidies on EV’s EU rules begin – heavily penalising carmakers on CO2 emissions May 2020: France to provide €12,000 subsidies to swap to EVs – wants to be #1 EV manuf
Slide 12: Location
Location Well serviced and highly active mining region For personal use only Mt Keith Major Ni & Au Goldfields Mines Highway Kathleen Valley Bellevue Sealed Town of Airstrips Leinster Leinster Agnew Leinster Town Power Natural Gas SEPTEMBER 2020| 12
Slide 13: Major Milestones
Major Milestones Consistent delivery of results with targets met or exceeded For personal use only INTERIM MRE MRE MAIDEN MRE UPGRADED MRE UPGRADE UPGRADE 21.2Mt @ 1.4% Li2O 74.9Mt @ 1.3% Li2O 139Mt @ 1.3% Li2O 156Mt @ 1.4% Li2O and 170ppm Ta2O5 and 140ppm Ta2O5 and 140ppm Ta2O5 and 130ppm Ta2O5 SEP
Slide 14: Moora Au-PGE-Ni-Cu Project
Moora Au-PGE-Ni-Cu For personal use only Project WESTERN AUSTRALIA 100%
Slide 15: Project Overview
Project Overview Moora is located in an emerging precious and base metal mineral province For personal use only Same geological terrain as the Julimar Ni- 1 PGE-Au discovery by Chalice Gold Mines1. Tenements acquired in 2018 and 2019 as 2 part of generative exploration strategy for battery metals 1
Slide 16: Project Background
Project Background Gravity image • Regional geophysics indicate that Moora is underlain by mafic/ultramafic intrusions similar to that which hosts the Julimar For personal use only discovery • There has been no drill testing of the fresh bedrock at Moora. • Initial field programs have defined 2 prio
Slide 17: Mt Yule – Felton Au – PGE Corridor
Mt Yule – Felton Au – PGE Corridor • 15km long, 2.5km wide zone For personal use only with multiple, coincident Au- PGE and magnetic anomalies • Individual auger assays up to: ◦ 925ppb (0.92g/t) Au ◦ 75ppb Pd+Pt ◦ 492ppm Ni ◦ 884ppm Cu • Multiple plus 100ppb (0.1g/t) Au zones • Airborne EM survey de
Slide 18: Mt Yule Prospect – 3.6 x 2.2km, multi-element anomaly
Mt Yule Prospect – 3.6 x 2.2km, multi-element anomaly For personal use only 10 EM Profile 0 EM Profile SEPTEMBER 2020| 18
Slide 19: Bindi Bindi Nickel Area
Bindi Bindi Nickel Area – Historic intersections up to 21m @ 0.5% Ni from 1.5m For personal use only Poseidon RAB drilling area (1968) SEPTEMBER 2020| 19
Slide 20: Next Steps
Next Steps Results continue to validate exploration concept For personal use only Phase 1 (Q2/Q3 2020) • Infill auger sampling – phase 1 • Extend first pass auger sampling to adjacent areas • Airborne EM • Total budget ~ $500,000 Phase 2 (Q4 2020/Q1 2021) • Ground EM (MLEM) – MYFC and Bindi Bindi Ar
Slide 21: Investment Case
Investment Case The only uncommitted “Tier 1” lithium resource in Australia, strengthened by exciting new targets For personal use only Kathleen Valley Lithium-Tantalum Project 156Mt resource Multiple opportunities to improve economics Flexible development Updated PFS Q4 timeline aligned to 2020 dem
Slide 22: Leadership and Key Financials
Leadership and Key Financials For personal use only David Richards Tim Goyder Craig Williams Anthony Cipriano Steven Chadwick Managing Director Chairman Non-Executive Director Non-Executive Director Non-Executive Director • +35 years • +40 years • +40 years • +30 years • +40 years • Discovered multi
Slide 23: Thank You
For personal use only THANK YOU For more information visit www.ltresources.com.au SEPTEMBER 2020| 23
Slide 24: Appendix – Peer Comparison Information
For personal use only Appendix 1 PEER COMPARISON INFORMATION
Slide 25: Peer Comparison Information – Mineral Resource Estimates
Peer Comparison Information – Mineral Resource Estimates Measured Indicated Inferred Global Company Project Stage MRE Grade Information Source Mt Mt Mt MRE Mt Kathleen ASX Announcement, 11 May 2020: Development 20 105 32 156 1.35 Valley https://www.ltresources.com.au For personal use only Liontown R
Slide 26: Kathleen Valley – Lithium Equivalency Parameters
Kathleen Valley – Lithium Equivalency (Li2O + Ta2O5) Parameters For personal use only SEPTEMBER 2020| 26
Slide 27: Peer Comparison Information – Global Attributable Hard Rock Resources
Peer Comparison Information – Global Attributable Hard Rock (Spodumene) Resources For personal use only SEPTEMBER 2020| 27
Slide 28: Peer Comparison Information – Global Attributable Hard Rock Resources (cont.)
Peer Comparison Information – Global Attributable Hard Rock (Spodumene) Resources (cont.) For personal use only SEPTEMBER 2020| 28
Slide 29: Appendix – Buldania Lithium Project
For personal use only Appendix 2 BULDANIA LITHIUM PROJECT (LIONTOWN 100%)
Slide 30: Project Overview
Project Overview Significant lithium discovery Buldania is Located in a 1 Outcropping, fresh, spodumene- For personal use only Lithium-Rich Mineral Province related mineralisation Mineralisation at Anna extends to the SE 2 under shallow cover – strike length >1.4km and open 1 Similar geology to the
Slide 31: Resource
Resource Maiden Mineral Resource Estimate 14.9Mt @ 1.0% Li2O For personal use only The completion of the MRE complements flagship Kathleen Valley Lithium Project
Slide 32: For personal use only
For personal use only Level 2, 1292 Hay St West Perth WA 6005 +61 8 9322 7431 info@ltresources.com.au www.ltresources.com.au liontown-resources-limited @LiontownRes
Liontown Resources — Investor Presentation (September 2020) on 6ix