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ACN 147 413 956
Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com
ASX: INF ANNOUNCEMENT
1 February 2019
European Conferences and 9th International Advanced Automotive Battery Conference Presentation HIGHLIGHTS
Infinity engages with key European stakeholders at EBA250 with raw materials
and chemical processing capabilities remaining a high priority for the European Commission, European Investment Bank, and major European automobile OEMs
European Investment Bank actively seeking to support European raw materials and refining projects to strengthen the strategic position of the European Union lithium-ion battery and electric vehicle sectors
Infinity presents development of the European lithium-ion battery supply chain to leading battery technology delegates and key automotive OEM suppliers at the 9th Advanced Automotive Battery Conference
European Battery Alliance EBA250 – Brussels Infinity Lithium Corporation Limited (‘Infinity’ or ‘the Company’) was invited to attend The European Battery Alliance (‘EBA’) EBA250 and participate in round table discussions with delegates. EBA250 focused on the progression of European interests in the lithium-ion battery supply chain with particular onus on the investment and commitment required further upstream in battery chemical production. European battery cell production and assembly has accelerated interest in the alignment of financial institutions and business in battery industry fundamentals. In more than five decades Europe has not been presented a more significant opportunity than that of the electrification of vehicles and energy storage. Jens Weise (Head of Industrial Co-operations and Partnerships, Volkswagen AG) outlined Volkswagen’s “Strategy 2025 - Building cars for millions, not millionaires” to produce 50 electric vehicle (‘EV) and 30 plug-in hybrid electric vehicle models (‘PHEV’) by 2025, and the requirement for the equivalent of 6 lithium-ion battery (‘LIB’) giga-factories to facilitate solely Volkswagen’s demand. Both Mr Weise and Andrew A. McDowell (Vice-President, European Investment Bank, ‘EIB’) called for the reduced dependency of Europe on Chinese LIB battery producers and in particular the control of battery chemicals and cell production. Infinity’s San Jose Lithium Project contains the European Union’s (‘EU’) second largest lithium JORC resource and has recently released a positive scoping study, placing it ideally to supply battery grade chemicals into the European market.
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ACN 147 413 956
Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com
FIGURE 1: REPRESENTATION OF A EUROPEAN FULLY INTEGRATED LITHIUM-ION BATTERY SUPPLY CHAIN
Note: 1) Electric cars include HEV, PHEV and EV. 2) Average battery pack for EV is 33kWh in 2017, 45kWh in 2025 and 52kWh in 2030. 3) PHEV average battery pack around 12kWh, HEV around 1kWh. 4) LCE consumption per kWh averaging 0.9Kg.
The EIB acknowledged the importance of Europe’s strategic position in the LIB supply chain, promoting the sector and the EIB’s commitment to provide capital to facilitate growth EV market and European value chain participants. Mr McDowell noted that the EIB had identified the significant gap in the market for battery chemicals and reinforced the EIB’s specific focus on “raw materials and refining facilities”. The ability to ethically source raw materials and consideration of CO2 emissions remains a priority for the European market. Infinity’s strategic location in the EU and environmentally advantageous process flow sheet reinforces San Jose’s position as a strategically important asset within Europe. Maroš Šefčovič (Vice-President, European Commission, ‘EC’) expressed his desire to continue to bring investments and investors to the LIB and EV sector with more than €300 billion invested to date. The continued threat posed to the European automotive industry from Chinese battery chemical producers, battery cell and assembly manufacturers has seen significant allocations of funding to assist high quality European projects. The updated Strategic Action Plan on Batteries by the EC will bring increased certainty for investments as far as regulation and institutional support are concerned. In a continued theme for the conference, primary and secondary raw materials remain a priority for the EC to address the gap in the existing value chain with no current capacity to refine battery chemicals. The EC and EIB are promoting a harmonised view to building and supporting processing and refining capabilities with Europe. Advanced Automotive Battery Conference – Strasbourg Infinity attended the 9th International Advanced Automotive Battery Conference (‘AABC’) in Strasbourg which brought together a global conglomeration of leading chief battery technology participants from key automotive OEM suppliers. The conference was attended by more than 1,000 international delegates, with industry leading experts gathering to address lithium battery chemistry, battery raw materials, and battery engineering as OEMs are expanding their EV development programs, increasing production and investment commitments.
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ACN 147 413 956
Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com
Vincent Ledoux-Pedailles presented to a full house as part of the global battery raw materials segment in the development of the lithium-ion battery supply chain in Europe and its influence on critical raw materials. A copy of the presentation is attached to this announcement. Infinity continues to progress the San Jose Lithium Project with joint venture partners Valoriza Mineria (‘Valoriza’), a subsidiary of listed Spanish construction and engineering company Sacyr S.A. For further inquiries please contact;
Ryan Parkin CEO, Managing Director T: +61 (0) 429 228 857 E: [email protected] Nick Morrison
Namcomm Consulting - Principal T: +61 (0) 424 823 100 E: [email protected]
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The Development of the Lithium-Ion
Battery Supply Chain in Europe and its
Influence on Critical Raw Materials
INFINITY LITHIUMVincent Ledoux-Pedailles
January 2019
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Infinity Lithium Corporation
For Consideration❖ This presentation has been prepared by Infinity Lithium Corporation Limited “Infinity Lithium”. This document contains background information about Infinity Lithium current at the date of this
presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis inorder to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.
❖ This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to thepurchase or sales of shares in any jurisdiction.
❖ This presentation does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needsand the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seekprofessional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or politicaldevelopments.
❖ To the fullest extent permitted by law, Infinity Lithium, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency,accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors oromissions from this presentation arising out of negligence or otherwise are accepted.
❖ This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside thecontrol of Infinity Lithium. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautionednot to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuingobligations under applicable law, Infinity Lithium does not undertaken any obligation to update or revise any information or any of the forward looking statements in this presentation or anychanges in events, conditions, or circumstances on which any such forward looking statement is based.
Competent Persons Statement❖ The information in this report that relates to Exploration Targets and Mineral Resources is based on the information compiled by Mr Patrick Adams, of Cube Consulting Pty Ltd (Perth). Mr
Adams has sufficient relevant professional experience with open pit and underground mining, exploration and development of mineral deposits similar to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of JORC Code He has visited the project area andobserved drilling, logging and sampling techniques used by Infinity Lithium in collection of data used in the preparation of this report. Mr Adams is an employee of Cube Consulting Pty Ltd andconsents to be named in this release and the report as it is presented.
❖ The information in this report that relates to Exploration Results is based on the information compiled or reviewed by Mr Adrian Byass, B.Sc Hons (Geol), B.Econ, FSEG, MAIG and an employeeof Infinity Lithium. Mr Byass has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2012 Edition of the JORC Code. Mr Byass consents to the inclusion in the report of the matters based on this information in the form and context in whichit appears.
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Infinity Lithium Corporation
Electric mobility From Wait and See mode to Action mode
Batteries Alliances & Long term Supply – Strong Exposure to Asia
Co, Ni, LiEurope Is A Minor Battery Raw Materials Producer
INTRODUCTION
EuropeTo Become #2 Largest EV Maker In The World
EU & Governments
Start To Intervene & Protect The Region
EuropeCould Become The #2 Largest Market For Battery Metals
Large Domestic Resources & Projects To Support The Industry
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Who Really Controls the Lithium-ion Batteries Supply Chain?
Infinity Lithium Corporation
*Including HEV, PHEV & EVSource: IHS Markit
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E-MOBILITY
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“Electric car sales surge in Europe, as diesel car sales slump”
The Driven
“VW capable of building 50 million electric vehicles”
Reuters
El Pais“The Government proposes to veto the sales of gasoline and diesel cars in 2040”
“VW plans to sell electric Tesla rival for less than 20,000 euros”
Reuters
Q3 2018 News The European EV Supply Chain
Infinity Lithium Corporation
“European parliament backs 40% cut in vehicle CO2”European Parliament
“It’s the only way forward': Madrid bans polluting vehicles from city center”
The Guardian
Audi will invest over €14 billion in e-mobility advance
Audi
VW says could build up to 15 million electric cars
Reuters
Volkswagen says last generation of combustion engines to be launched in 2026
Reuters
Brussels agrees 2030 carbon dioxide targets for cars
Financial TimesFor
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Source: McKinsey Sustainable Mobility Initiative
15
7
3
2
0
5
10
15
20
25
30
2016 2020 2025 2030
Light Vehicle Production
China Europe USA RoW
Mill
ion V
ehic
les p
rod
uced
per
ye
ar
Global EV Outlook – China in the Lead, Europe to Follow
No matter which forecast you are looking at, all predict tremendous growth in EVs
McKinsey: EV production will reach more than 26 million globally by 2030. China is expected to add around 15 million EVs by year 2030 (56% market share), followed by Europe (26% market share) and the US (12% market share)
BNEF: EVs sales to surge to 30 million by 2030. China leads with sales reaching almost 39% of the global market in 2030. China leads on adoption rates, with EVs accounting for 19% of all passenger vehicle sales in China in 2025. Europe is close behind at 14%, followed by the U.S. at 11%
Platts: by 2025, the EU will actually have a deeper penetration rate for EVs (30%) than in China (15%) and in the US (8%). F
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E-Mobility: Electric Cars Are Not The Entire Story
Infinity Lithium Corporation
Road Heavy Road Light Sea/Water Ways Sky
• A large part of the mobility market is unaccounted for in lithium-ion battery forecast
• The road, the sea and the sky will move to electric too with many companies working towards this goal, from the small start
up to the large corporation
• Those applications will lead to further growth for demand and additional pressure on battery raw materials in the future
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LITHIUM-ION
BATTERIES
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Financial Times
“EU to offer billions of funding for electric battery plants, four groups planning to build European rival to Tesla’s ‘gigafactory’”
“BMW Group, Northolt and Umicore join forces to develop sustainable life cycle loop for batteries”
Financial Times
“BASF and Nornickel join forces in European EV battery push”
Reuters
Q3 News around the European Li-ion Battery Supply Chain
Infinity Lithium Corporation
BusinessDesk
“Coventry to become home to UK’s first manufacturing site for electric car batteries”
“Germany has set aside 1 billion euros to support battery cell production”
Reuters“Volkswagen nominates further battery cell supplier – SK Innovation”
VW
“Germany's Varta steps up plans to mass produce electric car battery cells”
Reuters
“Germany wants to have about 30% of global battery production in 2030 take place in Europe.”
Electrive
“France seeks European battery deal as electric car growth accelerates”
Reuters
Daimler to buy $23 billion of battery cells for electric car drive
Reuters
Samsung SDI close to Landing a $1 Billion EV Battery Order from BMZ
Business Korea
Electrive BYD considers European battery cell factory
Audi agrees to assemble battery packs in Germany
Electrive
Germany and France declare support for battery production
Bmwi
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A Number of New Lithium-ion Factories Planned in Europe
Infinity Lithium Corporation
0
300
600
LIB Giga Factories
Capacity by 2025
GW
h
Chin
a
US
Source: Benchmark Minerals
Euro
pe
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Umicore is planning to build a cathode plant in Poland. The first phase of this
investment is included in the € 660 million programme announced earlier this
year. Umicore is due to start deliveries in late 2020.
BASF and Norilsk Nickel enter exclusive negotiations to cooperate on raw
material supply for battery materials production in Europe. BASF intends to
invest up to €400 million in a first step to build production plants for cathode
materials in Europe.
Johnson Matthey expects to start production in 2021-22 in Europe of a
battery material it has developed with improved performance and reduced
cobalt content to contain costs.
Northvolt is also planning to build its cathodes in-house after they start their
battery factory in Sweden.
Cathode Investments in Europe
New Cathode Investments – One More Step Towards Back
Integration
Infinity Lithium Corporation
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ALLIANCES
Metals - Batteries - EV
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2018 Key Agreements & Investments in the Lithium-ion Battery Supply Chain
Lithium Li-ion Cells & Components EV Makers
Nemaska
North America
Lithium
Ganfeng
Pilbara
Galaxy
Kidman
Bacanora
TianqiSQM
Orocobre
Hanwa
Soft Bank
Toyota
Tsusho
Ganfeng
Ganfeng
Mitsui
AMG
Sigma
Kidman
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2018 Key Agreements & Investments in the Lithium-ion Battery Supply Chain
Lithium Li-ion Cells & Components EV Makers
Nemaska
North America
Lithium
Ganfeng
Pilbara
Galaxy
Kidman
Bacanora
TianqiSQM
Orocobre
Hanwa
Soft Bank
Toyota
Tsusho
Ganfeng
Ganfeng
Mitsui
AMG
Sigma
Kidman
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Multiple Lithium Offtake Deals – Dominated by Asia
Infinity Lithium Corporation
37 offtake deals 76% from Asia
51% Chinese8% Europe
55%Feedstock
Supply Deal
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POLITICAL SUPPORT
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European Intervention & Protectionism Is On Its Way
Infinity Lithium Corporation
Patrick Pouyanné - CEO Total
“I will not launch the group and Saft in operations worth several billion
euros if in the end we do not have the fair competitive framework
between us and others”
"Today, if you want to provide an electric vehicle in China with a battery, it must be
built in China by a Chinese manufacturer"
"The dialogue we're having with European governments is to know if we can
protect ourselves like that in Europe."
Maros Sefcovic - Vice President of the European Commission
“The European EV battery market could come to be worth 250 billion
euros annually by 2025” ?“We are ready to discuss … financial assistance – be it under the Important
Projects of Common European Interest (IPCEI) or under Public Private Partnerships
with the European Investment Bank (EIB).”
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Germany Leading European Efforts For Mass Electrification
“I think we should, within the framework of our own strategic abilities, work with
other European countries on our own battery cell production”Angela Merkel
German Chancellor
Christian Hirte
Deputy Economy
Minister
“We have a concentration of risk in the automobile
sector…The industry is too dependent on the combustion
engine…The government therefore wants to help the
sector in its efforts to diversify”
“Germany has set aside 1 billion euros to support battery cell production in order to reduce the
dependence of German carmakers on Asian battery suppliers and protect German jobs”
“The goal is to cover around 30 percent of global demand for battery cells from
German and European production by 2030”
Peter Altmaier
German Economy
Minister
Infinity Lithium Corporation
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• EU push to develop a strategic value chain for manufacturing EV LIBs inside Europe
• Europe now wants to secure access to the raw materials
• Inside Europe, attention has focused on mapping out the raw materials available on
European soil
• “There are new projects for production in Europe. Mines are opening or re-
opening and there is prospection going on to open some new ones”
“EU accelerating plans to develop lithium mining & refining capacity”
EU Finally Focus on Strategic Raw Materials
EU’s Critical Raw Materials
• CRM – strategic classification of raw materials allows for subsidies
and support
• Whilst lithium is not currently on the CRM, movement in the space
suggests the importance and dynamic of supply in raw materials is
readily recognized
Infinity Lithium Corporation
Olga Garcia Garcia, Minister of
Economy & Infrastructure of
Extremadura – Spain
“Mining in Extremadura (Spain) is a key
strategy in the energy transition"
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EUROPEAN
BATTERY METALS
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Today, Europe is Poorly Integrated in the Li-ion battery
Supply Chain
Infinity Lithium Corporation
Middle stream
Lithium-ion
Battery
Battery Manufacturing Chain
EU
Europe remains a small centre for
lithium-ion battery production
Battery plants are owned by Asian
companies
Most battery cells are imported from
Asia
Downstream
Electric Vehicles
Electric Vehicles
Energy Storage
EV
Production
EU
Europe set to become the #2 largest
EV maker in the world
Strong governments incentives in
place
Strong adoption rate expected in the
coming years
Upstream
Battery Metals Supply
Lithium
~100% from China,
Australia, South
America & USEU
Cobalt
Majority from the
Democratic Republic
of Congo & China
Nickel Supply
EU marginal producer
Majority from
Indonesia, Philippines,
Canada, Russia, etc.
EU
EU
Cathodes
EU
Upcoming
investments but
today almost >90%
in Asia
Other
Components
>90% in Asia
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A Fully Integrated European Lithium-ion Battery Supply Chain
Infinity Lithium Corporation
Notes: Electric cars include HEV, PHEV and EV. Average battery pack for EV is 33kWh in 2017, 45kWh in 2025 and 52kWh in 2030. PHEV average battery
pack around 12kWh, HEV around 1kWh. LCE consumption per kWh averaging 0.9Kg.
The EU is pushing to have a fully integrated domestic supply chain, from producing EVs all
the way back to producing raw materials. What would it mean for domestic lithium demand?
0
2
4
6
8
10
12
14
2017 2025 2030
European Electric Car Production
Source: HSBC
Million
San Jose Project (15kt/y)
x16times
0
50
100
150
200
250
300
2017 2025 2030
Equivalent Battery ProductionGWh
0
50
100
150
200
250
2017 2025 2030
Lithium Demand EquivalentKt LCE
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Many Paths to Develop an Integrated European Supply Chain
In the Future
Today
Example 2
Example 1
Mining Conversion Cathode Cell Battery EV
Lithium-ion
Battery
Supply Chain
Tomorrow
Example of
multi-level
collaboration
European Mine
Co-owned /
co-developed conversion
plant in the EU
Collaboration with
a cathode maker
Cell and Battery pack manufactured in Europe by
a Japanese producer
Battery fitted in a
European EV
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29%
6%
22%
48%
37%
6%6%
36%
21%
22%21%21%
9%5%7% 3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2018 2021 2025
EV Battery Chemistry Mix
Other
LFP
NCA
NCM 811
NCM 721
NCM 622
NCM 111
Lithium Hydroxide
Preferred
93% Market
Share by
2025
Cathode Evolution: Nickel-rich NMC to Dominate the Industry
Infinity Lithium Corporation
Source: UBS
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• Remote & harsh climate
• Weather dependant
• High re-agents & logistics costs $$$• Living organism, etc.
• Regulators controlling
sales & Production
quotas
• Water rights
• High political and
economicall risk
• Up to 40% royalties in Chile $$$• Increase cost of production by ~50%*
• New export taxes in Argentina $$$
• Low Li2CO3 production cost
• But additional conversion
costs for LiOH $$$
• Li2CO3 converted
internationally to LiOH
• Additional conversion &
freight costs $$$Brine
Chile
Arg.
Many Paths to Market but Integration & Proximity is Key
1- South America to Asia
* Using an average selling price of US$13,500Infinity Lithium Corporation
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Spodumene
• Remote
• Logistics
costs $
• Mining friendly
• Low political and
economical risk
• Small royalties $
Aus.
Non-integrated
Integrated
Feedstock $$$
Energy
intensive
Hazardous
chemicals
Domestic
Trucking $ Limited domestic re-
agents availability $Energy costs $$
Freight $
Many Paths to Market but Integration & Proximity is Key
Tax $$
Ex-China
Freight $ 8,000 km $
Import
duties $
1- Australia to Asia
Infinity Lithium Corporation
Environmental
penalties &
Shutdowns
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• Mining friendly region
• Low risk
• Low strip ratio
• Open pit
Integrated1-3km
trucking
NO
Import
dutiesDomestic re-agents
available
Gas pipeline
adjacent
San Jose
Spain
Many Paths to Market but Integration & Proximity is Key
3 – Europe to Europe
NO
Royalties
NO
Export
taxes
Infinity Lithium Corporation
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Li Hydroxide – Integrated Mineral Feedstock to Dominate
Infinity Lithium Corporation
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
- 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000
US
$/T
LC
E
2018 Forecasted Supply
Hydroxide Cost Curve, Post-Taxes & Royalties
Independent Converter
Integrated Converter*
Integrated Brine
OPEX SAN JOSE
$5,300 per ton
Source: Orocobre
OPEX SAN JOSE
$5,343
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INFINITY LITHIUMSan Jose Lithium Project
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Infinity Lithium Corporation
Scoping Study – Cautionary Statement
The Study referred to in this announcement is a preliminary technical and economic investigation of the potential viability of the San Jose Lithium-Tin Project. It is based on lowaccuracy technical and economic assessments, (+/- 35% accuracy) and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case atthis stage; or to provide certainty that the conclusions of the Study will be realised. The Production Target referred to in this announcement is based on 91% Indicated Resources and 9%Inferred Resources for the life of mine life covered under the Study. In accordance with the twenty four (24) year mine plan incorporated into the Study, the first three (3) years ofproduction (covering payback period) will come 96% from Indicated Resources. For full details of the Study refer to ASX announcement 29 November 2018.
Competent Persons Statement
Snowden Mining (2017) and Cube Consulting (2018) estimated the total Mineral Resource for the San Jose lithium deposit using Ordinary Kriging interpolation methods and reportedabove a 0.1% Li cut-off grade. Full details of block modelling and estimation are contained in the ASX announcement dated 5 December 2017 and updated 22 May 2018.
The Resource which supports the Scoping Study was announced to the ASX on the 23 May 2018. Infinity is not aware of any new information or data that materially affects theinformation included in this ASX release, and Infinity confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the resource estimatesin this release continue to apply and have not materially changed.
The resource information in this report that relates to the December 2017 and updates in May 2018, updated Mineral Resources is based on the information compiled by Mr PatrickAdams, FAusIMM CP (Geology) and Mr Adrian Byass B.Sc Hons (Geol), B.Econ, FSEG, MAIG. Mr Adams and Mr Byass have sufficient relevant professional experience with open pit andunderground mining, exploration and development of mineral deposits similar to the style of mineralisation and type of deposit under consideration and to the activity which they areundertaking to qualify as Competent Person(s) as defined in the 2012 Edition of JORC Code. Mr Adams has not visited the project area and has relied on the documented (Byass, 2016-2018, Peters, May 2017) drilling, logging and sampling techniques used by Infinity in collection of data used in the preparation of this report. Mr Adams is a Principal Geologist and aDirector of Cube Consulting Pty Ltd and consents to be named in this release and the report as it is presented. Mr Byass is employed by Infinity as a geologist and has visited the siteduring pre and post drilling activities, and consents to be named in this release and the report as it is presented.
Production Target and Scoping Study: The information in this report that relates to Exploration Results is based on the information compiled or reviewed by Mr Adrian Byass, B.Sc Hons(Geol), B.Econ, FSEG, MAIG and an employee of Infinity. Mr Byass has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to theactivity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code for Reporting of Exploration Results, Exploration Targets, MineralResources and Ore Reserves. Mr Byass consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
DisclaimerF
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San Jose Lithium Project
Scoping Study*Lithium Carbonate – Completed Lithium Hydroxide – Completed
Feasibility Study Underway
Project life24 years Average 13kpta* LC depletes <50% of JORC resource
JORC Resource (reported above 0.1% Li cut-off)
111.2Mt* (#2 in the EU) (Ind. 59Mt, Inf. 52.2Mt)>1.6Mt LCE
Life of mine strip ratio <1.2:1
Average ROM (yr1-8) 0.85% Li20 : 2.1% LCE*
Plant feedstock 1.4% Li20 : 3.5% LCE*
Product - battery grade Lithium Hydroxide: 13-16kt pa +56.5%
Ownership 50% JV interest moving towards 75% JV interest
Infinity Lithium Corporation
San Jose Lithium ProjectLocation: Extremadura – Spain
Market: Europe & Global
*See Disclaimer on previous slide
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Fully Integrated Project - From Mining to Lithium Hydroxide
Infinity Lithium Corporation
• 2nd Largest Lithium JORC in the EU
• EU & Spain: Low investing risk
• 2.5h from Madrid via highway
• Extremadura – a proactive mining
region
• Brownfield project & long life
project - potentially decades • Open pit – low risk, cheap
bulk mining
• JORC well supported ~12km
of drilling completed
• Very low strip
ratio <1.2:1
MiningFor
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Fully Integrated Project - From Mining to Lithium Hydroxide
Infinity Lithium Corporation
• Fully integrated operation
• Chemical plant <3km away
from the mine
• No royalties or duties on the
import of lithium concentrate
• Proven production process
• Low cost production
• Gas pipeline adjacent to the plant
• Low temperature process
• Environmentally friendly
water leach
• Using safe reagents
• LiOH Battery Grade
• Preferred lithium chemical
for cathode manufacturers
• Sealed dual lane highway
adjacent to the plant –
connected by major
arteries to Europe
Europe to be #2 largest EV
market in the world and #2
largest Li-ion batteries
producerProcessing to end marketsFor
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sona
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onl
y
Scoping Study Project Economics* - Lithium Hydroxide (100% Project Basis)
Infinity Lithium Corporation
*See Disclaimer slide
For
per
sona
l use
onl
y
INFINITY LITHIUMDeveloping lithium production in Europe to
power a renewable future
For
per
sona
l use
onl
y