Liontown Limited · ASX:LTR
Liontown — Liontown Resources — Investor Presentation (May 2020)
29 slides from Liontown's investor presentation, May 18, 2020
Slide 1: Advancing the World Class Kathleen Valley Lithium-Tantalum Project
For personal use only ADVANCING THE WORLD CLASS Kathleen Valley Lithium-Tantalum Project ASX : LTR |MAY 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 Exploration Results for the Kathleen Valley Project Although the Company believes the expe
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: Hard Rock Lithium Operations and Advanced Projects
Hard Rock Lithium Operations and Advanced Projects A globally significant lithium resource For personal use only 3.00 Li2O Grade % Greenbushes (Talison/Albermarle) Kathleen Valley May 2020 2.50 SEP JUL 2018 2019 Mt Holland 2.00 (WES / SQM) Grota de Pilgangoora Cirilo (Sigma) Mt Marion (Min (Pilbara
Slide 6: May 2020 MRE – 156Mt @ 1.4% Li2O and 130ppm Ta2O5
May 2020 MRE – 156Mt @ 1.4% Li2O and 130ppm Ta2O5 N 1,700m S For personal use only 600m 400m May 2020 MRE 108% increase in tonnes and 119% increase in contained lithium versus the July 2019 MRE used to prepare the Dec 2019 PFS July 2019 MRE/ Further Resource update scheduled for late March/early Apr
Slide 7: May 2020 MRE – 80% Measured and Indicated
May 2020 MRE – 80% Measured and Indicated 1200m W E Cut-off Resource Million Ta2O5 Li2O% Li2O% Category Tonnes (ppm) For personal use only Measured 20 1.3 140 0.55 Indicated 105 1.4 130 Inferred 32 1.3 110 600m Total 156 1.4 130 Cut-off Li2O% Mt Li2O% Ta2O5 (ppm) 0.4 158 1.34 128 Looking north 0.55
Slide 8: 2019 MRE v 2020 MRE – Grade / Tonnage Comparison
2019 MRE v 2020 MRE – Grade / Tonnage Comparison An increase in grade and tonnes For personal use only Mt Li2O Grade % 180 1.80 160 1.70 1.70 140 120 1.60 1.56 1.61 100 1.50 1.45 80 1.48 1.39 60 1.40 1.35 1.35 1.34 40 1.38 1.30 1.31 20 1.27 1.28 1.28 0 1.20 10.4 2 0.55 3 0.6 4 0.8 5 1.0 6 1.2 1.4 1.
Slide 9: December 2019 PFS Key Metrics
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 10: EV adoption and the rise of lithium batteries
While EV adoption rates will be temporarily delayed by The rise of lithium batteries COVID-19, the longer-term fundamentals remain strong continues January 2020: For personal use only China extends subsidies on EV’s EU rules begin – heavily penalising carmakers on CO2 emissions. Feb 2020: Kathleen V
Slide 11: PFS Mining and Processing Flowsheet
PFS Mining and Processing Flowsheet 2019 Initial PFS Key Outcomes • 6.1 % Li2O concentrate For personal use only • Predicted 76% recovery of Li2O • Chemical Grade Li2O concentrate achievable 2020 Focus – Update PFS to align with latest MRE • Revised Mine planning • Li2O flowsheet R&D Testwork • Tant
Slide 12: The Opportunities – Size and Grade
The Opportunities – Size and Grade E W New, larger MRE will underpin an updated PFS For personal use only Investigate optimal underground/ 1 open pit interface • Thicker (up to 70m TW) and high grade (>1.5%) at depth: 31m @ 1.8% Li2O (TW 31m) 33.7m @ 2.0% Li2O (TW 22m) 83m @ 1.5% Li2O (TW 68m) Poten
Slide 13: Thick, continuous high grades at depth
Thick, continuous high grades at depth N S 1700m For personal use only 600m W 1200m E Looking East May 2020 Block Model 600m Mineralised pegmatite (<1.5% Li2O) 1.5 – 2.0% Li2O >2.0% Li2O Looking North MAY 2020| 13
Slide 14: The Opportunities – Longevity and Infrastructure Process Improvements
The Opportunities – Longevity and Infrastructure 2 Process Improvements For personal use only • Systematic and thorough approach • Investigate simpler Whole-Ore Flotation verses industry standard DMS-Flotation process flowsheet • Develop tantalum flow sheet • De-risk scale-up and improve future oper
Slide 15: 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 MAY 2020| 15
Slide 16: 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 17: Moora Nickel-Cu-PGE-Au Project
Moora Nickel- For personal use only Cu-PGE-Au Project WESTERN AUSTRALIA 100%
Slide 18: Project Overview
Project Overview Moora is located in an emerging precious and base metal mineral province For personal use only Located in the same geological terrain as 1 the Julimar discovery – a significant, new Ni-PGE discovery by Chalice Gold Mines1. Liontown acquired the tenements in 2018 2 and 2019 as part o
Slide 19: Project Background
Project Background Gravity image • Regional geophysical data sets indicate For personal use only that Moora is underlain by mafic/ultramafic intrusions similar to that which hosts the Julimar discovery • There has been no drill testing of the fresh bedrock at Moora. Magnetic image 440,000mE 420,000m
Slide 20: Initial Exploration
Initial Exploration Encouraging results validate exploration concept For personal use only • Strong, coincident, multi- element anomalism defined: ◦ Au (up to 613ppb Au) ◦ Pd + Pt (up to 75ppb) ◦ Ni (up to 492ppm) ◦ Cu (up to 280ppm) • Overlying large, coincident gravity and magnetic highs - indicat
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 Q3/Q4 timeline aligned to 2020
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 MAY 2020| 23
Slide 24: Appendix – Peer Comparison Information
For personal use only APPENDIX 1 Peer Comparison Information MAY 2020| 24
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: For personal use only Liontown Resources Development 20 105 32 156 1.35 Valley https://www.ltresource
Slide 26: Buldania Lithium Project
For personal use only APPENDIX 2 Buldania Lithium Project (Liontown 100%) MAY 2020| 26
Slide 27: 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 28: Maiden Mineral Resource Estimate
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 28
Slide 29: 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 (May 2020) on 6ix