Developing a major Lithium & Boron mine in the USA, for an energy efficient future Goldman Sachs Annual Emerging Leaders Conference, Sydney 3 rd April 2019 1
Imp Importa ortant no nt notices tices an and d disclaimers disclaimers This presentation has been prepared as a summary only and does not contain all information Competent Persons Statement about ioneer Ltd’s ( ioneer or the Company ) assets and liabilities, financial position and The information in this report that relates to Exploration Results is based on information performance, profits and losses, prospects, and the rights and liabilities attaching to ioneer’s compiled by Bernard Rowe, a Competent Person who is a Member of the Australian Institute of securities. The securities issued by ioneer are considered speculative and there is no Geoscientists. Bernard Rowe is a shareholder, employee and Managing Director of ioneer Ltd. guarantee that they will make a return on the capital invested, that dividends will be paid on Mr Rowe has sufficient experience that is relevant to the style of mineralisation and type of the shares or that there will be an increase in the value of the shares in the future. deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Bernard Rowe consents to the inclusion in the ioneer does not purport to give financial or investment advice. No account has been taken of report of the matters based on his information in the form and context in which it appears. the objectives, financial situation or needs of any recipient of this presentation. Recipients of this presentation should carefully consider whether the securities issued by ioneer are an appropriate investment for them in light of their personal circumstances, including their In respect of Mineral Resources referred to in this presentation and previously reported by the financial and taxation position. Investors should make and rely upon their own enquiries Company in accordance with JORC Code 2012, the Company confirms that it is not aware of before deciding to acquire or deal in the Company's securities. any new information or data that materially affects the information included in the public report titled “Updated Rhyolite Ridge Mineral Resource Statement” dated 23 October 2018 and released on ASX. Further information regarding the Mineral Resource estimate can be found in Forward Looking Statements that report. All material assumptions and technical parameters underpinning the estimates in Various statements in this presentation constitute statements relating to intentions, future the report continue to apply and have not materially changed. acts and events which are generally classified as “forward looking statements”. These forward looking statements are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other important factors (many of which are In respect of production targets referred to in this presentation and previously disclosed, the beyond the Company’s control) that could cause those future acts, events and circumstances Company confirms that it is not aware of any new information or data that materially affects the to differ materially from what is presented or implicitly portrayed in this presentation. information included in the public report titled “Outstanding Results from Rhyolite Ridge Pre - Feasibility” dated 23 October 2018. Further information regarding the production estimates can be found in that report. All material assumptions and technical parameters underpinning For example, future reserves described in this presentation may be based, in part, on market the estimates in the report continue to apply and have not materially changed. prices that may vary significantly from current levels. These variations may materially affect the timing or feasibility of particular developments. No offer of securities Nothing in this presentation should be construed as either an offer to sell or a solicitation of an Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, offer to buy or sell ioneer securities in any jurisdiction, or be treated or relied upon as a “potential” and similar expressions are intended to identify forward -looking statements. recommendation or advice by ioneer. ioneer cautions security holders and prospective security holders to not place undue reliance Reliance on third party information on these forward-looking statements, which reflect the view of ioneer only as of the date of this presentation. The views expressed in this presentation contain information that has been derived from publicly available sources that have not been independently verified. No representation or The forward-looking statements made in this presentation relate only to events as of the date warranty is made as to the accuracy, completeness or reliability of the information. This on which the statements are made. Except as required by applicable regulations or by law, presentation should not be relied upon as a recommendation or forecast by ioneer. ioneer does not undertake any obligation to publicly update or review any forward-looking statements, whether as a result of new information or future events. Past performance cannot be relied on as a guide to future performance. Note: All $’s in this presentation are US$’s except where otherwise noted. ASX: INR 2
About ioneer (ASX:INR) Shares Share Price (1 Apr 2019) Poised to become a responsible and profitable producer of the materials for an energy efficient future 1.47B A$0.17 • Focused on developing the globally significant Rhyolite Ridge Lithium-Boron Project in Nevada, USA Options (Unlisted) Cash (31 Dec 2018) • PFS demonstrated robust project economics 47.4M A$70M • DFS on-track to be completed in 3Q 2019 with production commencing in 2021 • Fully funded to Final Investment Decision, targeted for end of 2019 Performance Rights (Unlisted) Market Cap • Multiple strategic partner options to take project 1.4M A$250M forward • High quality Board and management - Orocobre, Rio Debt Enterprise Value Tinto, Shell Zero A$180M Ownership Top 20 Directors / Management Lithium is a key ingredient Boron is a raw in lithium-ion batteries material for insulation, 60% 8% which are powering the fibreglass and other electric vehicle revolution energy saving products 3
Recent Rece nt Delivering a major lithium-boron mine in the USA ac achiev hieveme ements nts ✓ PFS completed in October 2018 – confirmed very low operating costs + long life resource ✓ Boric acid – premium quality demonstrated by test work ✓ Infill drilling completed – improved grade and increased resource, improving early cash flows ✓ Fluor managing engineering and design – completion 2H 2019 ✓ Acid plant design and procurement awarded to SNC-Lavalin/DuPont Mil Miles eston tones es • Strategic partnerships – global investment bank running formal process ahead ahead • Pilot plant to produce samples for customers - Kemetco completing initial operations 2Q 2019 • Potential vendor financing for major process and mining equipment • Environmental approval process ongoing – targeting 2H 2019 • Update Resource/Reserve statement – 2Q 2019 ASX: INR 4
Rhyolite Ridge Lithium-Boron Project A globally significant lithium and boron deposit Significant USA supplier of critical Strategic location in Nevada, a tier one mining minerals jurisdiction & close to customer markets Two revenue streams, >30 year mine life, Large deposit of lithium and boron expandable Shallow, thick & flat lying suitable for open pit Reduced environmental footprint mining, low strip ratio No tailing dams, no evaporation ponds, no Minimal waste and water usage residual acid, no acid mine drainage On-site acid plant generates steam and carbon- Green energy production free power for site, excess available to sell = world’s lowest cost lithium producer at < $2,000/t lithium carbonate 5 ASX: INR
Lithium – classed as a critical mineral by US Government Limited lithium supply • USA increasingly reliant on China for lithium battery supply Tesla Battery Gigafactory • USA working to ensure supplies of critical Target 35 GWh minerals including lithium LG Chem Battery Factory Target 8 GWh • 1 GWh of lithium-ion battery capacity requires circa 800 tonnes of lithium Imperium3 Battery Factory • 58 GWh planned capacity equates to circa 50k Albermarle’s Target 15 GWh Silver Peak Mine tonnes of lithium producing < 4Ktpa Li2CO3 Rhyolite Rhyolite Ridge Ridge well positioned to benefit from rapidly growing USA demand ASX: INR 6
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