Annual General Meeting
November 7th 2024
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What We Do
Innovative and integrated developer of critical and strategic minerals projects
Developed demonstrated process to produce high quality HPA for the growing energy efficiency markets and broader tech applications
Developing a world class downstream rare earth production facility to strengthen Australia's critical minerals supply chain through 50% interest in Minhub Operations
Developing and commercialising downstream value-add opportunities in critical minerals
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Cadoux Critical Minerals Project Summary
Dual Project Summary | High Purity Alumina (HPA) | Rare Earths - Minhub |
- Innovative business models
- Well developed process flowsheets
- Technological competitive advantage
- Exceptional product (purity / quality)
- Staged production expansion strategies
- Near term development catalysts
- Outstanding project economics
- Visible market upside
• Stage 2 Project development | • Unique multi-sourced feedstock |
underway | flowsheet |
• FEED level engineering | • FS due for completion shortly |
• Flexible operating design and | • Accelerated production pathway |
staged production growth | defined |
• SSP FS due shortly | • Garnering strong supply chain |
• Proven product quality & market | support |
appeal | • Supporting Australia's critical |
• Significant project value | minerals strategy |
demonstrated |
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High Purity Alumina
Cadoux
HPA Project - Outstanding Investment Metrics
US$1,1014m | US$186m | US$131m |
55% |
AFTER-TAX NPV (@ 8%)PROJECT IRR25 YEAR AVG ANNUAL EBITDA ANNUAL CASHFLOW
25 YEARS | 3.2 YEARS | US$6,661 | US$202m |
HPA CASH COST |
DCF PROJECT FORECAST | PROJECT PAYBACK | PER TONNE | CAPEX ESTIMATE |
10,000 TPA HPA PRODUCTION | US$26,400/-T HPA SALES PRICE | 15% PRODUCT IS 5N |
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HPA - Addressing the Major Risks
Challenges | |
Technology and Scale-up | |
1 | Will Cadoux's developed high-quality HPA process work |
efficiently, effectively and economically - especially at |
scale?
Commercialisation
2 | Will Cadoux be able to develop and fund the capital |
required to get the HPA project into production? |
Market | |
3 | The HPA market is not well understood and is not |
transparent. | |
Solutions
Cadoux has demonstrated the quality of the project through its extensive R&D and pilot plant studies. Project technology and engineering development has focused on production risk mitigation and includes the small-scale demonstration and production facility (SSP).
Cadoux is very focused on the commercial development of the HPA project. Attention includes addressing the technical challenges of the process as well as determining the funding requirements of the project. Cadoux has been exploring a number of funding options to address the funding requirements.
Cadoux has gained considerable insight and comfort in the HPA market since entering the industry. Direct customer outreach has been positive and engaging. Independent product research indicates ~30% CAGR* and a looming supply deficit. Cadoux has a well-developed understanding of customer specifications and offtake requirements via the development of HPA products.
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- Technavio (2024): Global High Purity Alumina Market 2024-2028
HPA Development Pathway
Commercialising our innovative HPA production process
Proven HPA quality and purity
Demonstrated HPA project
Project Valuation Pathway
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Pilot Plant | 2 |
CSI*
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value of over US$1.0 bn
Well timed strategy to meet increased forecast demand
FS/FEED
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Final Investment Decision
Clear pathway to production and achieving project valuation
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Cadoux (FYI) HPA Project DFS April 2021 * Customer Service and Innovation Centre
** Small Scale and Demonstration HPA production facility
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Staged Commercial Facility | ||
SSP** | 6 | |
NPV#
US$1.01b
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Rare Earths
Minhub Operations