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BATTERY MINERALS PREVIEW

AUTHIER THOMPSON BROTHERS
Location: Quebec, Canada Location: Manitoba, Canada
Company: Sayona Mining Ltd Company: Nova Minerals Ltd
Status: Revised DFS published November 2019 Status: Undeveloped resource
Comment: Despite recently reaffirming Authier as a Comment: Although not its main game,
viable standalone operation, Sayona is determined Nova is poised to make the most of having
to get its hands on the mothballed North American the only defined lithium resource (8mt @
Lithium Inc (NAL) concentrator just 50km down the 1.4%) in Manitoba. As the majority owner
road. Sayona believes it has the expertise to mine the of Snow Flake Resources Ltd, which holds
“spaghetti-like” NAL orebody, as well as the capacity the Thompson Brothers licence, Nova is
to eventually blend it with feed from Authier for the negotiating with Chinese-backed Tanco
optimal product. Bids for the NAL operation – majority Mining Corporation of Canada Ltd to process
owned by Chinese battery manufacturer CATL – are material through its mothballed concentrator
due to close at the end of the month. and flotation plant, about 100km from the
deposit. Cash flow from Thompson Brothers
would then be directed towards advancing
SEYMOUR LAKE Nova’s Estelle gold project in Alaska.
Location: Ontario, Canada
Company: Ardiden Ltd
Status: Resource upgrade March 2019
Comment: Shortly after announcing a 400% resource upgrade (4.8mt @ 1.2% lithium oxide), Ardiden
put the project on the backburner in light of the current landscape for lithium concentrate supply and
demand. Identifying potential strategic partners to help take the project forward remains ongoing in the
background to the company’s renewed focus on the Pickle Lake gold project, also in Ontario.

North America

PIEDMONT PARADOX
Location: North Carolina, US Location: Utah, US
Company: Piedmont Lithium Ltd Company: Anson Resources Ltd
Status: PFS due Q2 2020 Status: Resource upgrade November 2019
Comment: The only federal permit required for Comment: Anson began its battery minerals journey exploring for
development of a mine was awarded in November, graphite in Western Australia before settling on a more advanced
just 11 months after the application was submitted lithium brine opportunity in the US. Ended 2019 with a 287% resource
to US authorities. Hatch Ltd was appointed to oversee increase, including 186,400t of recoverable lithium and 1.174mt of
a PFS on a lithium hydroxide plant which is slated recoverable bromine, and confirmation it could produce battery grade
for completion during Q2 2020, with a DFS to also lithium carbonate directly from concentrate lithium chloride brine via a
be turned around on an integrated lithium project lithium hydroxide electrolysis process.
before the end of the calendar year. According to
last year’s scoping study update, Piedmont will RHYOLITE RIDGE
target production of 22,700 tpa lithium hydroxide,
comprising two years of concentrate-only sales and Location: Nevada, US
23 years of integrated operations, for an average AISC Company: ioneer Ltd
of $US3,565/t. Status: DFS due Q1 2020
Comment: Proceeds from a recent $40 million placement will see the
company (formerly known as Global Geoscience) funded through to a
final investment decision on the Rhyolite Ridge lithium-boron project. In
December, the company signed a binding offtake agreement with Dalian
Jinma Boron Technology for supply of boric acid for five years from Q1
2023, as well as a non-binding letter of intent with Shell Canada Energy to
purchase up to 250,000 tpa of sulphur for input into the acid plant.

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