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June 2019
For personal use only June 2019 1 Disc laimer For personal use - - PowerPoint PPT Presentation
For personal use only June 2019 1 Disc laimer For personal use only R: T he info rma tio n in this pre se nta tio n is a n o ve rvie w a nd do e s no t c o nta in a ll info rma tio n ne c e ssa ry fo r inve stme nt de c isio ns. I n ma king
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June 2019
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COMPANY DISCL AIME R: T
he info rma tio n in this pre se nta tio n is a n o ve rvie w a nd do e s no t c o nta in a ll info rma tio n ne c e ssa ry fo r inve stme nt de c isio ns. I n ma king inve stme nt de c isio ns in c o nne c tio n with a ny a c q uisitio n o f se c uritie s, inve sto rs sho uld re ly o n the ir o wn e xa mina tio n a nd c o nsult the ir o wn le g a l, b usine ss a nd/ o r fina nc ia l a dvise rs. T his do c ume nt ha s b e e n ma de a va ila b le fo r info rma tio n purpo se s o nly a nd do e s no t c o nstitute a pro spe c tus, sho rt fo rm pro spe c tus, pro file sta te me nt o r o ffe r info rma tio n sta te me nt. T his do c ume nt is no t sub je c t to the disc lo sure re q uire me nts a ffe c ting disc lo sure do c ume nts unde r Cha pte r 6D o f the Co rpo ra tio ns Ac t 2001 (Cth). T he info rma tio n in this do c ume nt ma y no t b e c o mple te a nd ma y b e c ha ng e d, mo difie d o r a me nde d a t a ny time b y the Co mpa ny, a nd is no t inte nde d to , a nd do e s no t, c o nstitute re pre se nta tio ns a nd wa rra ntie s o f the Co mpa ny. Que e nsla nd Pa c ific Me ta ls Pty L td do e s no t ha ve a sig nific a nt o pe ra ting histo ry o n whic h to b a se a n e va lua tio n o f its b usine ss a nd pro spe c ts. T he re fo re , the info rma tio n c o nta ine d in this do c ume nt is inhe re ntly spe c ula tive . F urthe r, se c uritie s o f c o mpa nie s suc h a s the Co mpa ny g e ne ra lly invo lve a hig he r de g re e o f risk a nd a re mo re vo la tility tha n se c uritie s o f mo re e sta b lishe d c o mpa nie s. Ac c o rding ly, a n inve stme nt in the Co mpa ny must b e c o nside re d a s spe c ula tive . T he info rma tio n c o nta ine d in this do c ume nt ha s b e e n pre pa re d in g o o d fa ith, ne ithe r the Co mpa ny, Que e nsla nd Pa c ific Me ta ls Pty L td, o r a ny o f the ir re spe c tive dire c to rs, o ffic e rs, a g e nts, e mplo ye e s o r a dviso rs g ive a ny re pre se nta tio n o r wa rra nty, e xpre ss o r implie d, a s to the fa irne ss, a c c ura c y, c o mple te ne ss o r c o rre c tne ss o f the info rma tio n, o pinio ns a nd c o nc lusio ns c o nta ine d in this do c ume nt. Ac c o rding ly, to the ma ximum e xte nt pe rmitte d b y la w, no ne o f the Co mpa ny, Que e nsla nd Pa c ific Me ta ls Pty L td, the ir re spe c tive dire c to rs, e mplo ye e s o r a g e nts, a dvise rs, no r a ny o the r pe rso n a c c e pts a ny lia b ility whe the r dire c t o r indire c t, e xpre ss o r limite d, c o ntra c tua l, to rtuo us, sta tuto ry o r o the rwise , in re spe c t o f, the a c c ura c y o r c o mple te ne ss o f the info rma tio n o r fo r a ny o f the o pinio ns c o nta ine d in this do c ume nt o r fo r a ny e rro rs, o missio ns o r missta te me nts o r fo r a ny lo ss, ho wso e ve r a rising , fro m the use o f this do c ume nt. T his do c ume nt ma y c o nta in sta te me nts tha t ma y b e de e me d “fo rwa rd lo o king sta te me nts”. F
the Co mpa ny c a n c a use a c tua l re sults to diffe r ma te ria lly fro m suc h sta te me nts. T he Co mpa ny ma ke s no unde rta king to upda te o r re vise suc h sta te me nts, b ut ha s ma de e ve ry e nde a vo ur to e nsure tha t the y a re fa ir a nd re a so na b le a t the time o f ma king this do c ume nt. I nve sto rs a re c a utio ne d tha t a ny fo rwa rd-lo o king sta te me nts a re no t g ua ra nte e s o f future pe rfo rma nc e a nd tha t a c tua l re sults o r de ve lo pme nts ma y diffe r ma te ria lly fro m tho se pro je c te d in a ny fo rwa rd-lo o king sta te me nts ma de .
COMPE T E NT PE RSON ST AT E ME NT : I
nfo rma tio n in this pre se nta tio n re la ting to the pro c e ssing a nd me ta llurg y is b a se d o n te c hnic a l da ta c o mpile d b y Mr Bo yd Willis, a n I nde pe nde nt Co nsulta nt tra ding a s Bo yd Willis Hydro me t Co nsulting . Mr Willis is a F e llo w a nd Cha rte re d Pro fe ssio na l o f T he Austra la sia n I nstitute o f Mining a nd Me ta llurg y (AusI MM). Mr Willis ha s suffic ie nt e xpe rie nc e whic h is re le va nt to me ta l re c o ve ry fro m the style o f mine ra lisa tio n a nd type o f de po sits in Ne w Ca le do nia whe re the o re will b e so urc e d (fro m third pa rtie s pursua nt to a n o re supply a g re e me nt) a nd to the a c tivity whic h the y a re unde rta king to q ua lify a s a Co mpe te nt Pe rso n unde r the 2012 E ditio n o f the ‘ Austra la sia n Co de fo r re po rting
xplo ra tio n Re sults, Mine ra l Re so urc e s a nd Ore Re se rve s’ . T his inc lude s o ve r 21 ye a rs o f e xpe rie nc e in me ta l re c o ve ry fro m L a te rite o re s. Mr Willis c o nse nts to the inc lusio n o f the te c hnic a l da ta in the fo rm a nd c o nte xt in whic h it a ppe a rs.
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Ne w Ca le donia :
I mpo rta tio n o f 600ktpa hig h g ra de Ni-Co o re
T
Ne w mo de rn re fine ry suppo rte d b y infra struc ture a nd ric h histo ry o f nic ke l pro duc tio n
E V Ma r ke t:
25,000tp a Ni sulpha te + 3,000tpa Co sulpha te + Va lua b le c o -pro d uc ts QPM is a wholly owne d subsidia ry of Pure Mine ra ls L imite d (ASX:PM1). A c ritic ism of the Austra lia n re sourc e s se c tor is the la c k of downstre a m proc e ssing for our na tura l re sourc e s. QPM’s T E CH Proje c t will re ve rse this tre nd by proc e ssing e xte rna l sourc e s of ore to produc e va lue - a dde d c he mic a ls for the e me rg ing ba tte ry se c tor. T
ne rg y Che mic a ls Hub – “T E CH Proje c t”
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600ktpa pro c e ssing pla nt 25,000tpa Ni Sulpha te + 3,000tpa Co Sulpha te + va lua b le c o -pro d uc ts DNi
T M pro c e ss – lo we r c a pe x a nd o pe x c o mpa re d to HPAL
Po sitive Sc o ping Study
Se c ure d hig h g ra d e Ni-Co o re supply a g re e me nt with two Ne w Ca le d o nia mining c o mpa nie s E
xpe c te d g ra d e s 1.6% Ni / 0.17% Co (Co ntra c t minimum 1.4% Ni, 0.15% Co )
Re lia ble so urc e tha t pre vio usly supplie d Que e nsla nd Nic ke l Re fine ry fro m 1989 until c lo sure L
Hig h Gra de Ore Supply
Ore supply se c ure d – fe a sib ility a nd a ppro va ls wo rk to c o mme nc e in re spe c t to c o nstruc tio n o f the pro c e ssing pla nt Co nstruc tio n o f the pro c e ssing pla nt c a n po te ntia lly b e c o mme nc e d within 18 mo nths
Ne a r T e rm Pro duc tio n
Stro ng fund a me nta ls fo r b a tte ry c he mic a ls (Ni Sulpha te / Co Sulpha te ) Nic ke l re surg e nc e Ma jo rity o f wo rld ’ s c o b a lt c o me s fro m DRC – QPM o ffe rs supply fro m a sta b le jurisd ic tio n
Ba tte ry Ma rke t F unda me nta ls
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xte nsive infra struc ture ne two rk inc lud ing Po rt, Ra il a nd Ro a d
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nd o ne sia
Skille d la b o ur a nd e ng ine e ring suppo rt
T
L
Co mb ine d 75+ ye a rs nic ke l la te rite e xpe rie nc e a nd e xpe rie nc e in Ne w Ca le d o nia E
xte nsive e xpe rie nc e with d e a ling with o ffta ke rs fo r nic ke l a nd c o b a lt
Stro ng pro je c t d e ve lo pme nt e xpe rie nc e
E xpe rie nc e d Ma na g e me nt
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Capital Str uc tur e / Shar e Pr ic e
Shar e s on issue
347.7M
Shar e Pr ic e
1.9c
Mar ke t Cap
$6.6M
De fe r r e d Conside r ation Shar e s (subje c t to pe r for manc e mile stone s)
333.3
3c Options
181.2
Boar d
Non E xe c Chair man
E d d ie K ing
Managing Dir e c tor
Jo hn Do wnie
Non E xe c Dir e c tor
Ca me ro n Mc le a n
Shar e holde r s
Directors and Management, 11.89% Top 20 (ex Directors and Mgt), 44.87% Other, 43.24% 2 4 6 8 10 1.0 1.2 1.4 1.6 1.8 2.0 1-Apr-19 15-Apr-19 29-Apr-19 13-May-19 27-May-19 10-Jun-19
Volume (millions) Share Price (cents) Acquisition of QPM finalised
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e r m Histor y – thro ug h Que e nsla nd Nic ke l Re fine ry, o ve r 50 millio n we t to nne s in Ne w Ca le do nia Ni-Co fe e d ha s b e e n
impo rte d a nd pro c e sse d in T
astr uc tur e – Po rt, ro a d, ra il, po we r a nd wa te r.
abour – Skille d la b o ur wo rkfo rc e a va ila b le re g io na lly.
stablishe d Industr ial Re gion – Stro ng e ng ine e ring suppo rt a nd lo ng te rm histo ry o f industria l a c tivity.
utur e Batte r y Hub – I
mpe rium3 is pla nning to c o nstruc t a b a tte ry fa c to ry in T
F ig ure : Port of T
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F ig ure : T E CH proje c t la yout
Sc oping Study Re sults
Nic ke l Sulphate
25,000tpa (5,678t c o nta ine d nic ke l)
Cobalt Sulphate
3,000tpa (639t c o nta ine d c o b a lt)
Co- Pr
221,000tpa he ma tite 8,700tpa a lumina
Pr
Sta g e 1: Dire c t Nic ke l (DNi
T M Pro c e ss) to
pro d uc e inte rme d ia te MHP pro d uc t Sta g e 2: CSIRO Pro c e ss to upg ra d e MHP to b a tte ry c he mic a ls
Cape x
US$297M (inc lud e s 20% c o nting e nc y)
Ope x
$108M pa $0.93/ lb nic ke l (a fte r c o -pro d uc t c re d its)
Pre - F e a sibility Study ha s c omme nc e d on the ba c k of the positive Sc oping Study – e xpe c te d c omple tion Se pte mbe r 2019
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pre c ipita te (“MHP”)
so urc e
M re c yc le s nitric a c id (~95%), lo we ring o pe x
e xtra c tio n a nd a dditio n o f fe w ne utra lising a g e nts c o mpa re d with o the r nic ke l pro c e sse s
a vo ura b le lic e nsing te rms a g re e d with Dire c t Nic ke l fo r use o f DNi Pro c e ssT
M
F ig ure : Dire c t Nic ke l pilot pla nt in We ste rn Austra lia
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unde rlying me ta l pric e (15-25%)
n pa rtne rship with CSI RO, QPM ha s suc c e ssfully pro duc e d b a tte ry c he mic a ls fro m a MHP g e ne ra te d b y the DNi Pro c e ssT
M
F ig ure : CSIRO Proc e ss F lowshe e t F ig ure : Ba tte ry c he mic a ls produc e d from MHP
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within the Asia Pa c ific re g io n
is we ll po sitio ne d to pro c e ss o re
with Ne w Ca le do nia . Ore supplie d to Que e nsla nd Nic ke l sinc e 1989
Ore Re se rve s, e stima te d to c o nta in 700kt o f Co b a lt, 7Mt o f Nic ke l, 140 Mt o f I ro n a nd 15Mt o f Ma g ne sia (So urc e : https:/ / mine ra ls.usg s.g o v)
F ig ure : Ne w Ca le donia nic ke l proje c ts
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”) a nd So c ie te Minie re Ge o rg e s Mo nta g na t S.A.R.L (“SMGM”)
nitia l supply o f 600,000tpa – c a n b e sc a le d up in the future
xpe c te d o re g ra de to b e de live re d to QPM 1.6% Ni / 0.018% Co (>50% hig he r tha n typic a l Austra lia n nic ke l la te rite pro je c ts)
a nd SMGM supplie d Que e nsla nd Nic ke l Re fine ry fro m 1989 – 2016
Ne w Cale donia E xpor ts to T
2008 2009 2010 2011 2012 2013 2014 2015 2016
Or e T
te d (t)
1,555,050 1,533,045 2,299,359 2,199,043 1,786,082 1,583,080 2,015,711 996,038 78,975
Conta ine d Ni (t)
16,409 16,1680 23,202 22,338 18,290 16,144 20,190 9,962 865
Conta ine d Co (t)
1,746 1,679 2,651 2,518 1,946 1,764 2,441 1,119 86
Ni Gr a de %
1.62% 1.62% 1.55% 1.56% 1.58% 1.57% 1.54% 1.54% 1.68%
Co Gr a de %
0.17% 0.17% 0.18% 0.18% 0.17% 0.17% 0.19% 0.17% 0.17%
Sourc e : Ne w Ca le donia mine s de pa rtme nt
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a st tra c k to c o nstruc tio n a nd pro duc tio n
e a sib ility Study – L yc o po dium ha s b e e n a ppo inte d a nd ha s c o mme nc e d
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Shar e holde r Value – no t yo ur typic a l re so urc e s
ade is King – pro c e ssing hig h g ra de ma te ria l fro m Ne w Ca le do nia de live rs QPM a