I NVE ST OR PRE SE NT AT I ON – ANNUAL GE NE RAL ME E T I NG, 30 NOVE MBE R 2017
I NVE ST ME NT HI GHL I GHT S • T hre e a dva nc e d, hig h-g ra de c o b a lt pro je c ts in No rth Ame ric a : Colson Cobalt Pr oje c t in Idaho • Assa ys fro m sa mpling histo ric unde rg ro und wo rking s a t the inc lude : • 2.5m @ 5.33% Cu, 0.59% Co and 2.24 g/ t Au • 1.3m @ 6.16% Cu, 0.65% Co and 2.54 g/ t Au • 1.8m @ 2.99% Cu, 0.31% Co, 3.48 g/ t Au and 27.7 g/ t Ag Goodspr ings Pr oje c t in Ne vada • Ore g ra ding to 29% c obalt shippe d pre vio usly fro m the Co lumb ia Mine within the Co mpa ny’ s pro je c t a re a Haze lton Pr oje c t in Br itish Columbia • Ore fro m the histo ric Vic to ria Mine g ra de d 123.4 g/ t gold and 2.8% c obalt • Optio n to a c q uire a n 80% inte re st in the Ke e l Zinc Pr oje c t, Ir e land • I nfe rre d Re so urc e o f 6.9 Mt @ 5.6% Zn and 0.8% Pb 1 • $2.5m c ash at 30 Se pte mbe r 2017 (and ~$5.3m wor th of shor t- date d “in- the - mone y” Options) • Ne w manage me nt te am installe d on 27 Oc tobe r : • Co nc e rte d e xplo ra tio n pro g ra ms a t the Co mpa ny’ s ne w c o b a lt pro je c ts unde rwa y 1. Re fe r to ASX a nno unc e me nt da te d 07/ 03/ 2017 fo r furthe r info rma tio n re g a rding the Mine ra l Re so urc e e stima te . 2
CORPORAT E OVE RVI E W Capital Struc ture ASX: L F R Shar e s 381.1M Options 10M @ $0.02 (e xpir e 31/ 12/ 17) 103.4M @ $0.05 (e xpir e 31/ 7/ 18) 10M @ $0.10 (e xpir e 10/ 5/ 20) Pe r for manc e Shar e s 23.8M Ca sh (30/ 9/ 17) $2.5M Mar ke t Cap (@ $0.11) $41.9M Board Ric har d Hill Non- E xe c . Chair man Mike Hayne s Managing Dir e c tor Bill Guy E xe c utive Dir e c tor Sc ott Mison Non- E xe c . Dir e c tor L ongfor d shar e pr ic e dur ing the past 12 months 3
ACQUI SI T I ON OF NORT H AME RI CAN COBAL T ASSE T S • On Oc to b e r 27, 2017 L o ng fo rd a c q uire d unliste d c o mpa ny L ia z Pty L td (“L ia z”) • L ia z ha s b e e n b uilding a po rtfo lio o f No rth Ame ric a n c o b a lt a sse ts sinc e De c e mb e r 2016 • Ne w L o ng fo rd dire c to rs a ppo inte d: • Mike Ha yne s – Ma na g ing Dire c to r • Ric ha rd Hill – No n-E xe c utive Cha irma n • De nve r-b a se d E xplo ra tio n Ma na g e r, No rth Ame ric a a ppo inte d: • Pa tric k Sig lin L oc ation of L iaz’s Pr oje c ts in the USA and Canada 4
WHY COBAL T ? • De ma nd fo r c o b a lt is inc re a sing a t 6.9% CAGR • 49% o f c o b a lt use d in the ma nufa c ture o f b a tte rie s • I n 2016 47,200 to nne s o f c o b a lt we re use d in b a tte rie s • De ma nd fo re c a st to do ub le to 94,800 to nne s b y 2026 • Curre ntly a supply de fic it • F o re c a st to wo rse n in c o ming ye a rs – susta ine d hig h c o b a lt pric e s a re pro b a b le • T he c o b a lt pric e pe a ke d a t US$52.30/ lb in 2008 whe n the re wa s a supply de fic it c o mpa ra b le to Cobalt pr ic e ove r the past 10 ye ar s and supply-de mand balanc e tha t fo re c a st fo r 2020 (vs c urre nt pric e o f US$27/ lb ) • 65% o f wo rld c o b a lt mine d in the DRC • Po litic a lly unsta b le • I nc re a sing de ma nd fo r e thic a lly mine d c o b a lt • Only 2% o f the wo rld’ s c o b a lt is de rive d fro m mine s whe re c o b a lt is the prima ry e le me nt mine d • Mo st c o b a lt is pro duc e d a s a b y-pro duc t in c o ppe r a nd nic ke l mine s • E xpa nsio n o f the se mine s wo n’ t ne c e ssa rily b e drive n b y a rising c o b a lt pric e 5
T HE I DAHO COBAL T BE L T – T HE PRE MI E R COBAL T DI ST RI CT I N T HE USA • A 60km-lo ng b e lt ho sting the la rg e st kno wn hig h-g ra de c o b a lt re so urc e s in the US • 1949 – 1960: 5Mt of or e mine d fr om the Blac kbir d Mine @ 1.5% Cu and 0.6% Co • Curre nt a c tivity: e Cobalt Solutions Inc . (T SX:E CS) • De ve lo ping the fully pe rmitte d Ra m De po sit • Ho sts re so urc e s o f 4.7Mt @ 0.53% Co, 0.73% Cu and 0.48g/ t Au • F irst pro duc tio n ta rg e te d fo r 2019 • Ma rke t c a p. C$146m US Cobalt Inc . (T SXV:USCO) • Prima ry pro je c t is the I ro n Cre e k De po sit • Histo ric re so urc e o f 1.16Mt @ 0.59% Co • Curre ntly drilling 41 ho le s fo r ~ 12,000m • Ma rke t c a p. C$35m L oc ation of de posits in the Idaho Cobalt Be lt, Idaho 6
T HE COL SON COPPE R-COBAL T PROJE CT , I DAHO COBAL T BE L T • Ce ntre d o n the Sa lmo n Ca nyo n Co ppe r-Co b a lt De po sit – o ne o f fe w a dva nc e d pro spe c ts in the I da ho Co b a lt Be lt • L o c a te d 25km a lo ng strike (NW) fro m the histo ric Bla c kb ird Co b a lt Mine • Dire c t ro a d a c c e ss to e Co b a lt So lutio ns’ Ra m De po sit Co lso n Pro je c t c o mprise s two la ndho lding s: 1. Option to Ac quir e the Salmon Canyon Coppe r - Cobalt De posit • L ia z ha s the e xc lusive rig ht to a c q uire 100% o f the Sa lmo n Ca nyo n Co ppe r-Co b a lt De po sit • T his a re a c o mprise s 10 BL M c la ims c o ve ring ~200 a c re s 2. 100% - owne d BL M c laims • L ia z ha s se c ure d a 100% inte re st in the a re a Cur r e nt e xte nts of the Colson Coppe r -Cobalt Pr oje c t surro unding the Sa lmo n Ca nyo n De po sit b y sta king 46 BL M c la ims c o ve ring a n a dditio na l 920 a c re s 7
T HE COL SON COPPE R-COBAL T PROJE CT HI ST ORY OF T HE SAL MON CANYON DE POSI T • Disc o ve re d in the e a rly 1960s • 700m o f unde rg ro und de ve lo pme nt b e twe e n 1964 a nd 1979 • 500m-lo ng unde rg ro und drift a nd 3 ra ise s • Se ve ra l hundre d to nne s o f o re we re mine d, mille d, c o nc e ntra te d a nd sme lte d a t Ana c o nda ’ s sme lte r in Mo nta na • Virtua lly no wo rk unde rta ke n sinc e 1980 • De po sit still o wne d b y the pro spe c to r who disc o ve re d it (no w 82 ye a rs o ld) Or e , c onc e ntr ate and c oppe r me tal fr om the Salmon Canyon Coppe r -Cobalt De posit 8 Por tal to the Salmon Canyon Coppe r -Cobalt De posit
T HE SAL MON CANYON DE POSI T – PRE VI OUS WORK • T wo pa ra lle l, sub -ho rizo nta l ho rizo ns o f stra tifo rm c o ppe r-c o b a lt mine ra lisa tio n (c ha lc o pyrite , c o b a ltite , a rse no pyrite a nd pyrite ) within me ta mo rpho se d se dime nts (g a rne t g ne iss) • Mine ra lisa tio n ma ppe d o ve r >300m o f strike a nd drille d o ve r >600m do wn-dip • ille d fro m surfa c e a nd unde rg ro und: Only 18 hole s dr • Ma ny (e a rly) ho le s we re n’ t a ssa ye d fo r c o b a lt • Assa y re sults inc lude • 2.5m @ 5.33% Cu, 0.59% Co, 2.24 g / t Au • 1.3m @ 6.16% Cu, 0.65% Co, 2.54 g / t Au • 1.8m @ 2.99% Cu, 0.31% Co, 3.48 g / t Au a nd 27.7 g / t Ag • Mine r alisation r e mains ope n in all dir e c tions • Gr ade appe ar s to be inc r e asing to the nor th and we st Plan vie w showing unde r gr ound wor kings and pr e vious 9 dr illing at the Salmon Canyon Coppe r -Cobalt De posit
T HE COL SON COPPE R-COBAL T PROJE CT , I DAHO – F ORWARD PL ANS Q4 2017 • Syste ma tic so il sa mpling o ve r so uthe rn po rtio n o f Pro je c t a re a • Co ppe r-c o b a lt mine ra lisa tio n re po rte dly o utc ro ps to the so uth o f the Sa lmo n Ca nyo n De po sit • I nitia l sa mple a c q uisitio n pro g ra m ne a ring c o mple tio n; Assa y re sults a ntic ipa te d Q1 2018 • Drill pe rmit a pplic a tio ns b e ing a dva nc e d Q1/ Q2 2018 • F o llo w-up ma pping a nd infill so il sa mpling o ve r a re a s with a no ma lo us so il g e o c he mistry • Ma pping a nd re -sa mpling unde rg ro und wo rking s to re fine drill ta rg e ts • Gro und g e o physic s a s a ppro pria te • I nitia l drill-te sting o f ta rg e ts g e ne ra te d fro m the Co mpa ny’ s wo rk - c e rta inly fro m surfa c e a nd po ssib ly fro m unde rg ro und Old building and r ail at the e ntr anc e to the Salmon Canyon Uppe r adit at the Salmon L adde r in r aise at the Salmon 10 Coppe r -Cobalt De posit Canyon Coppe r -Cobalt De posit Canyon Coppe r -Cobalt De posit
T HE GOODSPRI NGS COPPE R-COBAL T PROJE CT , NE VADA • Nume ro us sma ll-sc a le c o ppe r mine s o pe ra te d in the e a rly 1900s • L ittle to no a tte ntio n pa id to the c o b a lt po te ntia l a t the time o f mining • Histor ic pr oduc tion of e xtr e me ly high- gr ade c obalt or e fr om multiple c oppe r de posits in the distr ic t: Co lumb ia Mine • 3 shipme nts o f o re in 1921: • 249kg @ 29.18% Co • 1,720kg @ 13.42% Co Vie w fr om the Columbia De posit to Goodspr ings • 2,190kg @ 5.13% Co Co ppe r Chie f Mine • 3 shipme nts o f ha nd-so rte d o re re c o ve re d fro m the wa ste dumps in 1921: • 868kg @ 20.0% Co • 5,881kg @ 10.86% Co • 4,893kg @ 7.20% Co Hig hline Mine • 2 shipme nts o f ha nd-so rte d o re re c o ve re d fro m the wa ste dumps in 1921: • 544kg @ 12.45% Co • 2,186kg @ 6.35% Co • T e c hnic a l re po rts a sse rt the re is c o b a lt po te ntia l a t mo st/ a ll o f the histo ric 11 c o ppe r de po sits
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