Pursuit Minerals Ltd · ASX:PUR
Pursuit Minerals — Investor Presentation (May 2019)
23 slides from Pursuit Minerals's investor presentation, May 15, 2019
Slide 1: Scandinavian Vanadium Projects
+ Discovery + Resource Definition + Value Capture Scandinavian Vanadium Projects 121 Conference London May 2019
Slide 2: Forward Looking Statement
Forward Looking Statement This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment
Slide 3: Company Vision
Company Vision Seize the opportunity presented by the global energy revolution to develop high class vanadium projects generating superior returns to shareholders 2
Slide 4: Strategy to Achieve Company Vision
Strategy to Achieve Company Vision Build a Tier One primary vanadium production business based on several mines feeding a centralised processing plant producing V2O5 flake 3
Slide 5: Vanadium Supply and Demand
Vanadium Supply and Demand Supply • Concentrated supply • Production peaked in 2014 • Decreased vanadium production from slag in China • Price eased to US$11.35/lb increasing competitiveness of Vanadium REDOX Flow Batteries (VRFB’s) Demand • New Chinese rebar standards increase consumption 30%1 • Va
Slide 6: Vanadium Redox Flow Batteries
Vanadium Redox Flow Batteries • Suitable for large scale energy storage • Non-flammable • Excellent re-chargeability • Up to 10,000 cycles vs max 1,000 cycles for Li-Ion • Maintain 90% of their storage capacity over 20 years • Batteries suitable for single houses now commercially available • Costs h
Slide 7: Drivers for Demand Growth – Energy Storage
Drivers for Demand Growth – Energy Storage • VRFB market is expected to grow from Global cumulative storage deployments US$230 Million in 2018 to US$946 Million by (GWh) 2023 (ASDR) 150 • Over the period from 2018 to 2022, the VRFB market is anticipated to expand at a CAGR of 60% (Orbis Research - J
Slide 8: Phase One - Project Development Concept
Phase One - Project Development Concept Airijoki (Sweden) and Koitelainen (Finland) projects to produce high-grade vanadium magnetite concentrates to sell to global markets5 Advantages • Lowers pre-production CAPEX • Decreases timeframes to production • Builds the Company financial position, allowin
Slide 9: Phase Two - Development Concept
Phase Two - Development Concept Centralised plant to process vanadium magnetite concentrates from Airijoki and Koitelainen into V2O5 flake for sale to Europe6 Advantages • Multiple sources of high-grade vanadium magnetite concentrate • Blending of concentrates • CAPEX amortised across multiple proje
Slide 10: Vanadium Project Portfolio
Vanadium Project Portfolio • Finland Reservations granted March 2018 • Sweden Exploration Licences granted in August 2018 • Mining friendly, well established regulatory regimes with access to excellent mining related infrastructure • Pursuit holds 100% interest • Access to historical data, including
Slide 11: Pursuit Delivers on its Project Milestones
Pursuit Delivers on its Project Milestones Project Item Projected Actual Completion Completion Koitelainen JORC Exploration Target September 2018 September 2018 Airijoki Sampling historical drill holes September 2018 October 2018 Airijoki First drilling program December 2018 December 2018 Koitelaine
Slide 12: Airijoki Project
Airijoki Project • Four Exploration Licences covering 32km2 • 3.5km magnetic anomaly with vanadium mineralisation • Historical drill holes resampled in August 20189 ▪ 178.3m @ 1.33% V2O5, (magnetite concentrate) ▪ 16m @ 2.05% V2O5 , (magnetite concentrate) • 18 holes for 2876m of drilling testing 2.
Slide 13: Airijoki Project – Scoping Study Financially Robust
Airijoki Project – Scoping Study Financially Robust Outcomes Phase One Project – Producing vanadium magnetite Project Concept concentrate for sale to global markets 44.3 million tonnes, containing 5.9 million tonnes Mineral Resources of magnetite @ 1.7% V2O5 (in magnetite concentrate), Zones 1 to 4
Slide 14: Koitelainen Vosa Prospect – Initial JORC Inferred Resource
Koitelainen Vosa Prospect – Initial JORC Inferred Resource • 16 holes drilled in 1970’s and 1980’s were resampled13 • Most holes produced vanadium magnetite concentrates exceeding 2.0% V2O5 • Magnetite concentrates with exceptional vanadium grades • 38.2m @ 2.6% V2O5 • 6.2m @ 3.3% V2O5 • 9.85m @ 2.9
Slide 15: Koitelainen Project – Scoping Study Financially Robust
Koitelainen Project – Scoping Study Financially Robust Outcomes Phase One Project – Producing vanadium magnetite Project Concept concentrate for sale to global markets D Zone – 58.9Mt containing 2.94Mt of magnetite @ 2.5% V2O5 (in magnetite concentrate) Mineral Resources C Zone – 15.1Mt containing 0
Slide 16: Metallurgical Test Work Extremely Positive
Metallurgical Test Work Extremely Positive AIRIJOKI PROJECT OUTCOME Mass Recovery of vanadium into the magnetite concentrate16 Increased to 19% from 13% (37% increase) by simply increasing crushing size to 355 microns from 106 microns Overall Vanadium Recovery Increased to 71% from 59% (20% increase
Slide 17: Key Advantages of Pursuit’s Scandinavian Vanadium Projects
Key Advantages of Pursuit’s Scandinavian Vanadium Projects Scandinavian Vanadium Projects Access to infrastructure 2km (Airijoki), 15km (Koitelainen) Power Costs Approx. 10c/kwh Proximity to markets European Market needing V2O5 flake High upgrade factor from in-situ to magnetite 4 – 5 X upgrade conc
Slide 18: Strategic Partnerships
Strategic Partnerships Pursuit is considering potential strategic partners who have the capability to provide technical and financial resources to move the Airijoki and Koitelainen Projects through to their next stages of development17 • Completion of Scoping Studies at Airijoki and Koitelainen has
Slide 19: Why Pursuit?
Why Pursuit? • Multiple high-grade vanadium mineral resources • Positive Scoping Studies show projects have the potential to be financially robust • Further project upside to come from ongoing metallurgical test work program • Top Tier Mining Jurisdictions • Project locations offers access to excell
Slide 20: Competent Person’s Statement
Competent Person’s Statement Statements contained in this presentation relating to exploration results, historical exploration results, historical estimates of mineralisation and Exploration targets are based on, and fairly represents, information and supporting documentation prepared by Mr. Jeremy
Slide 21: Appendix
Appendix
Slide 22: Company Snapshot
Company Snapshot ASX:PUR Quality assets Capital Structure Shareholders • Finland & Sweden vanadium • Shares: 178 million • Teck Aust. 7.3% • Options: • Lowell Resources 3.1% • Favourable mining jurisdictions • 55M Listed (10c, 31 Oct 2021) • Suburban Holdings 2.5% • Access to quality infrastructure
Slide 23: ASX: PUR
ASX: PUR Jeremy Read Managing Director Email: Jeremy@pursuitminerals.com.au Mobile: + 61 447 379 744