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The Evolution of Lithium®
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~~August 2017~~

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Disclaimer
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Summary information: This document has been prepared by Neometals Ltd (“Neometals” or “the Company”) to provide summary information about the Company and its associated entities and their activities current as at the date of this document. The information contained in this document is of general background and does not purport to be complete. It should be read in conjunction with Neometals’ other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

Forward-looking information: This document contains ~~, o~~ pinions, projections, forecasts and other statements which are inherently subject to significant uncertainties and contingencies. Many known and unknown factors could cause actual events or results to differ materially from the estimated or anticipated events or results included in this document. Recipients of this document are cautioned that forward-looking statements are not guarantees of future performance.

Any opinions, projections, forecasts and other forward-looking statements contained in this document do not constitute any commitments, representations or warranties by Neometals and its associated entities, directors, agents and employees, including any undertaking to update any such information. Except as required by law, and only to the extent so required, directors, agents and employees of Neometals shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatever nature arising in any way out of, or in connection with, the information contained in this document.

Mount Marion Project: This document contains certain historical and forecast financial and production information regarding the Mount Marion Project and Reed Industrial Minerals Pty Ltd, the owner of the Project (Neometals: 13.8% shareholding). Neometals was not involved in preparing this information, which is taken from a 16 August 2017 announcement by Mineral Resources Limited, the operator of the Project (via its wholly owned subsidiary, Process Minerals International Pty Ltd). However, Neometals is not aware of any reason why that information is incorrect as released by Mineral Resources Limited.

Financial data: All figures in this document are in Australian dollars (AUD) unless stated otherwise.

Not financial product advice: This document is for information purposes only and is not financial product or investment advice, nor a recommendation to acquire securities in Neometals. It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction.

Investment risk: An investment in securities in Neometals is subject to investment and other known and unknown risks, some of which are beyond the control of Neometals. The Company does not guarantee any particular rate of return or the performance of Neometals. Investors should have regard to the risk factors outlined in this document.

Competent Persons Statement:

The information in this document that relates to “Barrambie Mineral Resource Estimates”, “Barrambie Pre Feasibility Study Results”, “Mt Marion Mineral Resource Estimates” and “Lithium Battery Recycling – Scoping Study Results” are extracted from ASX Releases set out below. The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Releases set out below, and in the case of estimates of mineral resources, that all material assumptions and technical parameters underpinning the estimates in those ASX Releases continue to apply and have not materially changed.

6/12/2013	Barrambie-Amended JORC 2012 Mineral Resource Estimate
25/08/2015	Barrambie Pre Feasibility Study Results
27/10/2016	Mt Marion Mineral Resource Upgrade
22/02/2017	Lithium Battery Recycling–Scoping Study Results

The Company confirms that all the material assumptions underpinning the production target and the forecast financial information derived from the production targets in the Barrambie Pre-feasibility Study and Lithium Battery Recycling – Scoping Study continue to apply and have not materially changed.

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8X Growth Needs +3X Lithium

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Focus on Li-Ion Battery Commodities
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Our Positions in the Supply Chain
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Downstream processing adds value
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Mt Marion Lithium Operation

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Neometals 13.8% throu h Reed Industrial Minerals Pt Ltd g y

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World’s largest lithium concentrator
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Globally Significant Operation –
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 



 

JORC Resource 77.8Mt @ 1.37% Li2O* 2HFY17 Shipments 116,000 dmt

1HFY18 EBITDA A$72M** (100% basis) C1 costs A$369/t CIF (~US$290/t) Total costs A$460/t CIF (~US$360/t)

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 

Leading BOO Provider Complete Mine-to-Port Operator

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

Leading Lithium Converter LOM Take or Pay Contract*

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Refer supporting information

** Information taken from ASX:MIN announcement 16/8/2017. See disclaimer.

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Downstream processing WA-based LiOH Project

Neometals 100% Offtake O tion for ~50kt s odumene concentrates p p

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Secure LiOH supply for the West
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Battery makers users want LiOH from spodumene converted outside China

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8X Growth

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Commercialisation Plan
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Local plant to minimise transport from Mt Marion 7t spodumene concentrate needed for 1t of LiOH
Utilise local natural gas, sulfuric acid and workforce
• Conventional flowsheet -Remove technology risk – speed to market

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Finalise Location/Offtake/Operating Partner
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() Subject to NMT Board Approval (*) Subject to FID

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Downstream processing Lithium Titanate R&D

Neometals 100%

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Superior Anode Material for EV
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Research & Development Plan
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(*) Subject to Board Approval

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Intellectual Property Portfolio

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Our Approach
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R&D Projects must :
address real market opportunity,
create a sustainable competitive advantage
Have strong business case
Conduct Engineering Cost Studies asap to not waste time/money

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Downstream processing Direct Extraction from Brine

100% Neometals

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Replace Evaporation with faster,
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friendlier LiCl recovery process
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Direct Extraction via Adsorption
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Pat pending Titanate adsorbent
• Quick load/strip cycle – 30mins
• Complete rejection of sodium
• High recovery of Lithium 53-79%
• Returns water to salar, no evaporation
• Next Step - Proof of Scale

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Downstream processing Direct Conversion to LiOH

Neometals 70% Mineral Resources Ltd 30%

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IP

1 Granted patents (AU)
• 18 Pats pending

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Business model is to licence to existing brine producers in return for royalty stream: • De-risks ELi for own use later • Quicker cashflow • Higher P/E multiple

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Co Downstream processing Lithium Battery Recycling Neometals 50% of IP (3 US Prov. Pats) Exclusive licence to commercialise

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Li Battery Recycling Rationale Co
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Estimated < 5% Recyled Consumer Electronics LCO cathode = 20% Co

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Co
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Scoping Study Results (± 30% accuracy) • Operating Costs US$4.45/lb Co (US$10k/t) • Spot price US$25/lb Co (US$55k/t) • Capex US$4.5M • Pilot Plant under construction, testwork October 2017 • Can be constructed and commissioned in 42 weeks

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Barrambie Titanium Project

100% Neometals

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•
Increasing
Confidence
•
Lowering
Costs
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Globally Significant Ti Resource
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1,000 RC/Diamond holes to 60 vertical depth, Open all directions

+150Mt @34% TiO2

18%

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*** Mineral Resource Estimate**

(JORC2012) on page 29

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Sources: Company Reports

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Commercialisation Plan
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Offtake/Partner Selection Process
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(*) Subject to Board Approval

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Corporate

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Snapshot
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Cash at Bank • A$46.5M *
30 June 2017
Receivables • A$8.5M
Investments
Capital Management • A$11.5M dividend in FY17
Market Cap • A$150M @ 27c
5% Share buyback in progress

*** Includes $4M of restricted access term deposits**

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Executives and Consultants
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Chris Reed

Mike Tamlin Jason Carone

Yatendra Sharma

CFO & Company Secretary Project Manager

CEO COO

Mike Spratt Project Manager

Chris started in the mining industry in 1990 and cofounded Reed Resources in 2001. Chris holds a Bachelor of Commerce from the University of Notre Dame and a Graduate Certificate in Mineral Economics from WA School of Mines. He is a Member of the AusIMM and immediate past VicePresident of the Association of Mining & Exploration Companies.

Mike has over 35 years experience, including over 20 years in the lithium industry and was responsible for developing the spodumene trade between Australia and China. Former positions include GM China Galaxy Resources, VP Commercial Enirgi Group, GM Marketing Windimurra Vanadium and GM Marketing Sons of Gwalia. He has a degree in Metallurgy and is also currently a director of Frontier Lithium.

Jason holds a Bachelor of . Commerce in Accounting and Business Law from Curtin University and is a member of the Institute of Chartered Accountants, and Chartered Secretaries He has over 20 years’ experience in accounting, company administration in Australia and South East Asia across a broad range of industries. Jason has been with Neometals 10 years.

Yatendra holds a PhD in chemical technology with over 42 years of experience at top management including general management position at Galaxy Resources Limited (20092012) etc where he successfully managed construction of then the world’s largest lithium carbonate plant. Yatendra is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and Royal Australian Chemical Institute (CChem MRACI).

Michael is a Metallurgist with over 50 years of experience in mining, mineral processing, engineering and construction both in Australia and overseas. Michael has held senior general management positions such as Managing Director of Thailand Smelting and Refining Company and Simcoa, GM Operations at Robe River Iron Ore, Operations Director of Minproc and Kaiser Engineers.

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Investment Proposition

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Lithium : Cash, cashflow & growth options
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
 03
02 Downstream
process to LiOH.
L icence ELi to
01
C ashflows from
brine rock
~A$46.1M Cash 13.8% Mt Marion
+
+
producers.
plus ~A$16.5M in
L i-Ion Battery
receivables and
Recycling Project
investments
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Technology : developing a diversified portfolio
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 03
02
Successful Secure partners
01
completion of to commercialise
+ Pilot Plant for + - Brine IP & ELi
Secured Strong
- -
Partners for Li Battery Li Battery
Neomet Process Recycling Recycling
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Titanium : the big one
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
03
02
Commence DFS
01
+
Successful +
Obtain Strong
completion of Partners
Completed PFS Pilot Plant to Commercialise
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Thank you www.neometals.com.au

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SUPPORTING INFORMATION
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Corporate

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Experienced Board
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Steven Cole Chris Reed

David Reed

Chairman

Managing Director Non‐Executive Director

Natalia Streltsova Non‐Executive Director

Doug Ritchie Non‐Executive Director

Steven has 35 years of professional, corporate and business experience through senior legal consultancy, as well as a range of executive management and non executive appointments. His extensive boardroom and board sub-committee experience includes ASX listed, statutory, proprietary and NFP organisations covering the industrial, financial, educational, professional services, health and resources sectors.
Chris started in the mining industry in 1990 and cofounded Reed Resources in 2001. Chris holds a Bachelor of Commerce from the University of Notre Dame and a Graduate Certificate in Mineral Economics from WA School of Mines. He is a Member of the AusIMM and immediate past VicePresident of the Association of Mining & Exploration Companies.
David was a director and Chairman of CIBC Australia Limited. David has been a prospector, former secretary of the Amalgamated Prospectors and Leaseholders Association and private mine owner. In 1984 David founded Mt. Martin Gold Mines NL, which with partner Newmont Australia developed the million ounce New Celebration Gold Mine. In recognition of his service to the community he was awarded the Order of Australia Medal in 2002.
Natalia Streltsova is a PhD qualified chemical engineer with over 25 years experience in the minerals industry, including over 10 years in senior technical and corporate roles with mining majors - WMC, BHP and Vale. Dr Streltsova has considerable international experience covering project development and acquisitions in South America, Africa and the Former Soviet Union. She is currently a Non ‐ Executive Director of Western Areas Limited and Parkway Minerals NL.

Doug Ritchie is a senior resources industry executive with over 35 years experience, including over 28 years working with Rio Tinto. Mr Ritchie has considerable international corporate experience, including in China. He has been a director of various ASX and HKSE listed companies as well as research and commercialisation organisations

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2 cent unfranked div – April ‘16 2 cent unfranked div – Aug ‘16 5% on market buyback

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Negotiate new MSA to improve offtake quality and revenues
Advance local LiOH project with vendor testwork, offtake and partner selection processes.
Licence Dexter and/or ELi to brine producer for royalties
Fast-track evaluation of recycling process pending Mini-Max Test work.
Fast-track evaluation of Barrambie pending Mini-Max Test work and partner selection outcomes
Build royalty portfolio from Neomet Process with Sedgman and Andritz

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Significant Financial Resources
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ASX CODE: NMT	OTC:RDRUY	OTC:RDRUY
Last close (7‐8‐2017)	A$	0.29
Shares on issue	M	544
Market capitalisation	A$M	157
Net Cash (at 30‐6‐2017)	A$M	46.1
Receivables/Investments	A$M	16.5

MAJOR	SHAREHOLDERS
David Reed	10.9%
Kilkenny Limited	4.3%
Top 20 (7‐8‐2017)	37.1%

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18 MONTH SHARE PRICE
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Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17
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Operating Structure
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Evolution of our Lithium Business

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Commercialise Mt Marion 
• Evaluating local Conventional Downstream Processing 
• Co-developed, Evaluated, Patented New ELi® Process 
• Co-developed, Evaluated, Patent Pending ELi ® for brines 
• Testing and Evaluating Lithium-Ion Battery Recycling 

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Mt Marion Lithium Operation

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Neometals 13.8% throu h Reed Industrial Minerals Pt Ltd g y

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Strong Operating Partner
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
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 Australia’s largest contract minerals processor  Operate mine-to-port on BOO basis  No upfront capital cost to NMT  Minimum production levels (~50ktpa LCE)  Fixed rate mining and processing costs

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Mine Production/Guidance
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Notes:

Costs include arms length mining infrastructure service agreements with MRL
RIM went into commercial production on 1 March 2017. The production costs net of sales receipts of 37Kt of spodumene produced pre 1 March 2017 were capitalised in line with accounting standards. Accordingly, unit revenues and costs set out above for 2H FY17 are derived on 79Kt of spodumene produced post commercial production
Information taken from ASX:MIN announcement 16/8/2017.

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Outstanding Offtake Agreement
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 China’s largest, most diverse lithium producer - -  Take or Life-of-Mine, pay Offtake Agreement  From 1 July moving to transparent Lithium Carbonate/Lithium Hydroxide linked formula, with floor price protection – US$841/t CIF for SepQ  Letter of Credit (100% payment on invoice)  Neometals Option to take min 12.37% Offtake of production from 2020 onwards.

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Mineral Resource Estimate
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Mt Marion Lithium deposit, as at October 2016, for a block cut‐off grade of 0.5% Li2O
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Classification	Deposit	Tonnes (Mt)	Li~~2~~O %	Fe %
Indicated	Area 1,2,2W	19.3	1.41	1.08

	Area 4	2.0	1.11	0.99

	Area 6	7.7	1.29	1.04

Indicated Total		28.9	1.35	1.06

Inferred	Area 1,2,2W	43.5	1.39	1.09

	Area 4	0.8	1.07	1.09

	Area 5	1.0	1.32	1.71

	Area 6	3.5	1.33	1.07

Inferred Total		48.9	1.38	1.10

	Grand Total	77.8	1.37	1.09

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NOTE : Figures may not sum due to rounding. Significant figures do not imply an added level of precision.

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Downstream processing Direct Extraction from Brine

100% Neometals

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Selective LiCl Extraction from Brine
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Selective LiCl Extraction from Brine
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Downstream processing ELi Process™

Neometals 70% Mineral Resources Ltd 30%

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Business model is to deploy/co-invest in partnership with and/or licence to integrated hardrock developers in return for equity/royalty stream.

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Feasibility Study - Financial Metrics
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FS	FS
Life of Plant(LOP)	20years
Pre-production Capital cost	US$ 158 million**
Average Annual Pre-tax Net Cashflow [1	US$ 82 million
Pre-tax Internal Rate of Return	51%
Pre-tax NPV (12% real discount rate)	US$ 481 million
Payback of capital costs	2.6 years
Average Annual Production	14,000t LiOH 5,600t Li2CO3
Average Cost per tonne of LiOH	US$ 4,630/t
Average Cost per tonne of Li2CO3	US$ 5,345/t

** Capital costs valid at June 2016. Estimated to accuracy of ±15%, Including EPCM and Contingency Assumptions: 2016 Spodumene feedstock US$440/t CIF (6% Li2O); LiOH/Li2CO3 selling price US$11k/10k/t CIF respectively

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Co

Downstream processing Lithium Battery Recycling Neometals 50% of IP (3 US Prov. Pats) Exclusive licence to commercialise

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Co
Closing the loop:Recycle and re-use
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Pilot Plant in Construction Co
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Commercialisation Plan Co
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Running Partner/Site Selection Processes in parallel with test work and engineering programs

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Technology Licensing Neomet Process Neometals - 25% of sub-licencing royalties

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Patented Neomet Process
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– Commodity agnostic developed in Canada for Ni-laterites, in use commercially for treating refractory copper-gold concentrates.

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Neometals Laboratory in Montreal

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Project Development Phasing
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Laboratory scale set up (above) Pilot scale up (below)

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Barrambie Titanium Project

100% Neometals

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Strong demand/supply fundamentals
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The titanium pigment industry is 10x as large as the lithium compound industry. Growth = GDP Globally declining grades and quality Cost push price inflation

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Globally Significant Ti Resource
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Dual Track Evaluations
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Direct Ship

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Geraldton
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Barrambie
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China - Toll
Concentrator
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Ti Pigment
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Concentrate

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Geraldton
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Barrambie
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China - Toll
Concentrator
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China -
Neomet
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Ti Pigment
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Evaluating potential for Direct Shipping
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Ore and Toll-concentration in China
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Strong EPC & OEM Alliance

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Why Titanium Hydrolysate?
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Mineral Resource Estimate
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2
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Classification	Zone	Oxidation	MTonnes	Density (t/m3)	TiO2 (%)	V2O5 (%)	Fe2O3 (%)	Al2O3 (%)	SiO2 (%)
Indicated	Eastern	Oxide	18.7	2.82	23.29	0.59	42.93	10.70	16.36
		Transition	8.7	3.52	23.11	0.61	50.80	7.34	12.99
		Fresh	2.4	3.85	21.77	0.56	52.90	5.99	12.84
		Sub-total	29.8	3.10	23.11	0.60	46.02	9.35	15.10
	Central	Oxide	3.5	2.95	16.84	0.92	49.82	11.06	14.91
		Transition	1.3	3.50	17.39	0.89	54.76	8.49	12.15
		Fresh	0.1	4.04	15.59	0.88	59.93	7.22	10.96
		Sub-total	4.9	3.12	16.95	0.91	51.40	10.28	14.08
		Total	34.7	3.11	22.25	0.64	46.77	9.48	14.95
Inferred	Eastern	Oxide	2.6	2.71	20.88	0.48	40.00	12.20	19.42
		Transition	3.3	3.29	23.04	0.59	47.51	8.62	14.45
		Fresh	5.5	3.71	22.82	0.57	47.50	8.39	14.57
		Sub-total	11.4	3.36	22.44	0.55	45.78	9.33	15.65
	Central	Oxide	0.1	3.07	16.64	0.98	53.63	9.96	13.33
		Transition	0.4	3.47	18.36	0.86	54.15	8.79	12.43
		Fresh	0.7	3.86	17.30	0.91	53.48	9.44	13.17
		Sub-total	1.2	3.64	17.55	0.90	53.71	9.30	12.96
		Total	12.5	3.38	21.99	0.58	46.51	9.32	15.40
		Grand Total	47.2	3.18	22.18	0.63	46.70	9.44	15.07

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Pre-feasibility Study - Financial Metrics ()
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Life of Mine(LOM)	19.6years
Pre-production Capital cost (excluding EPCM and Contingency) [1	A$ 549 million
Average Annual Pre-tax Net Cashflow	A$ 123 million
Pre-tax Internal Rate of Return	21%
Pre-tax NPV(12% real discount rate)	A$ 355 million
Payback of capital costs	3.9years
Average Annual Production	98,000t TiO2 2,000t V2O5 234,000t Fe2O3
Cash Operating Cost per tonne of paid TiO2 net of co-product credit	US$ 572/t

(*) Estimated to accuracy of ±25%

Assumptions: US$1,838/t TiO2; US$14,873/t V2O5, US$520/t Fe2O3 Pigment, A$/US$0.75, Royalties (State/Technology) 10% Gross

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AI assistant

NEOMETALS LTD Investor Presentation 2017

65430_rns_2017-08-21_647147df-47ea-4e70-aba8-1d17b179486c.pdf

Financial data: All figures in this document are in Australian dollars (AUD) unless stated otherwise.

Competent Persons Statement:

Mt Marion Lithium Operation

Downstream processing WA-based LiOH Project

Battery makers users want LiOH from spodumene converted outside China

Downstream processing Lithium Titanate R&D

(*) Subject to Board Approval

Intellectual Property Portfolio

Downstream processing Direct Extraction from Brine

Downstream processing Direct Conversion to LiOH

IP

Co Downstream processing Lithium Battery Recycling Neometals 50% of IP (3 US Prov. Pats) Exclusive licence to commercialise

100% Neometals

(*) Subject to Board Approval

Corporate

Chris Reed

Mike Tamlin Jason Carone

Investment Proposition

Corporate

Steven Cole Chris Reed

David Reed

Evolution of our Lithium Business

Mt Marion Lithium Operation

Notes:

Downstream processing Direct Extraction from Brine

Downstream processing ELi Process™

Co

Downstream processing Lithium Battery Recycling Neometals 50% of IP (3 US Prov. Pats) Exclusive licence to commercialise

Technology Licensing Neomet Process Neometals - 25% of sub-licencing royalties

100% Neometals

Direct Ship

Concentrate

(*) Estimated to accuracy of ±25%

AI assistant

NEOMETALS LTD — Investor Presentation 2017

65430_rns_2017-08-21_647147df-47ea-4e70-aba8-1d17b179486c.pdf

Financial data: All figures in this document are in Australian dollars (AUD) unless stated otherwise.

Competent Persons Statement:

Mt Marion Lithium Operation

Downstream processing WA-based LiOH Project

Battery makers users want LiOH from spodumene converted outside China

Downstream processing Lithium Titanate R&D

(*) Subject to Board Approval

Intellectual Property Portfolio

Downstream processing Direct Extraction from Brine

Downstream processing Direct Conversion to LiOH

IP

Co Downstream processing Lithium Battery Recycling Neometals 50% of IP (3 US Prov. Pats) Exclusive licence to commercialise

100% Neometals

(*) Subject to Board Approval

Corporate

Chris Reed

Mike Tamlin Jason Carone

Investment Proposition

Corporate

Steven Cole Chris Reed

David Reed

Evolution of our Lithium Business

Mt Marion Lithium Operation

Notes:

Downstream processing Direct Extraction from Brine

Downstream processing ELi Process™

Co

Downstream processing Lithium Battery Recycling Neometals 50% of IP (3 US Prov. Pats) Exclusive licence to commercialise

Technology Licensing Neomet Process Neometals - 25% of sub-licencing royalties

100% Neometals

Direct Ship

Concentrate

(*) Estimated to accuracy of ±25%

More from NEOMETALS LTD

NEOMETALS LTD Investor Presentation 2017