Webinar Questions, page-18

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Jojo84

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30/04/20

20:12

Post #: 44365239
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Originally posted by Mozza01: ↑

gassed,
All of these points were directly expressed by Steve in the webinar. A few other key takeaways from the webinar include:
- 90 participants with approx. 87% shareholders
- another webinar for North America tomorrow
- Indication of DFS around mid-2021
- During discussion on the next steps, Steve mentioned “more than discussions and a letter of intent” from offtakers after samples are qualified. This indicates they have a letter of intent from at least one offtaker and, as long as everything continues to go to plan, there is all likelihood of an offtake partner and financing for the next 2 years leading up to production.
- High confidence that the Kachi project will be financed - despite the current COVID-19 environment and circumstances due to excellent response through Financiers.
- Production is planned for 3 years time - excellent timing to coincide with increased demand.
- Pricing of between “$10-13,000/T even up to $15,000/T for high quality, low impurity BG product like ours versus $6-7,000/T for lower quality product”.
- Takeover is always a risk BUT LKE, Lilac and Financiers are keen to bring this project through to production.
- Current plans for 25,000Tpa production but can scale up quite quickly if driven by offtake partner.
- Opex and Capex in PFS are considered but conservative. Opex will be fine tuned and optimised with significant reductions (40%) achievable just on the solar panel option for energy consumption alone. Capex currently includes $USD91M in contingencies as well as the costs of the full conversion plant bagging and storage of final product. No further treatment offsite required.
- High EBITDA margin of 62% and Post Tax IRR of 22%
- Kachi project value of 60 times current LKE Market Cap
- Optional staged development to commence at 10,000Tpa
- More drilling to extend project life well beyond 25 years as current PFS only uses 22% of resource
- Pilot plant will be on site at Kachi by the end of the year
- Very robust PFS (using HATCH) plus sample qualification will be enough to get to an offtake agreement - will not necessarily have to have DFS completed beforehand

Hope this helps those not able to attend the webinar.

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Thankyou.

LKE Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
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