Pinnacle Minerals Corporate Presentation
Released
Released
Announcement PDF
ASX:PIM
PINNACLE : We’re Charging Towards the Future
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
Lithium | HMS | REE | U3O8
Q2 2024
COMPANY OVERVIEW
Pinnacle Minerals Ltd (ASX:PIM) is an emerging battery and technology metals
explorer with a portfolio of projects in Tier-one jurisdictions across Canada, Western
Australia and South Australia.
Pinnacle holds 75% of the Adina East Lithium Project in James Bay Quebec which
is proximal to the Adina Lithium Project (ASX:WR1) and adjacent to the Trieste Project
(ASX:LLI). Both projects have demonstrated high grade lithium mineralisation.
Project Partner with 25% of the project is Electrification and Decarbonization AIE LP
Fund (E&D Fund), a fund managed by Waratah Capital Advisors, a Toronto based
investment house with $4B+ CAD under management.
US $500,000 payment made to Pinnacle Minerals in 2023 by E&D Fund for 25%
offtake from Adina East. Royalty agreement (2% GRR) in place with Lithium Royalty
Corp (LIRC:TSE)1.
Pinnacle's Australian Projects are in the favorable jurisdictions of Western Australia
and South Australia. The projects are prospective for Uranium, Rare Earth Elements
and Heavy Mineral Sands (Ilmenite).
Pinnacle has a tight capital structure, low enterprise value (EV), a supportive "top
20" and is highly leveraged to exploration success which Pinnacle aims to deliver via
systematic and geologically rigorous techniques.
1 – LRC holds a 2% Gross Revenue Royalty over Adina East, Noranda Royalties Inc holds a 2% Gross Revenue Royalty over Adina East
Abitibi Lithium
Projects Quebec
Heavy
Mineral
Sands
Western
Australia
Adina East
Lithium
Quebec
Uranium &
REE’s
South
Australia
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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DISCLAIMER AND FORWARD-LOOKING STATEMENTS
This presentation has been prepared by Pinnacle Minerals Limited and its related entities (the “Company”). It does not purport to contain all the information that a
prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information
provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters.
No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness
or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in
connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation.
This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your
own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the
information at any time in its absolute discretion (without incurring any obligation to do so).
Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or
entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and
Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation
(or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent
permitted by law, expressly disclaimed and excluded.
Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and
should not be used in isolation as a basis to invest in the Company.
Forward looking statements: this Presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company. Those intentions,
expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ
and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside
the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that
any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that
may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not
place undue reliance on these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results,
performance or achievements will be as expected, planned or intended.
Competent Person Statement
The information in this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by William
Witham, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. William Witham is a director of Pinnacle Minerals Limited. William
Witham has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. William Witham
consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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BOARD OF DIRECTORS
William (Bill) Witham
Executive Chairman
BSc (Hons) Geology UWA MAIG
•
•
•
•
Bill Witham is an experienced Executive
Director skilled in corporate finance,
government relations and mineral
exploration in Australia, Africa and South
America.
Bill has strong technical experience in
airborne geophysics, structural geology,
focusing primarily on lithium, uranium and
gold.
Bill was the founding director and the
executive and technical management of
Electrostate Limited. Electrostate developed
the Yinnietharra Lithium Project in WA
which was sold to Delta Lithium Limited
(ASX:DLI) for a circa $25 million vendor
consideration in September 2022.
Bill has held senior executive roles across
the Australian and African resources sector
for 35 years both in exploration and
advocacy. Bill was CEO of the Australia –
Africa Minerals and Energy Group
(AAMEG) from 2018 to 2021 and was at the
Chamber of Minerals & Energy WA from
2013 to 2016.
BSc (Geology) FFin MAusIMM
BEng Mech (Hons), BSci (Phys/IT),
GDip (Finance) GAICD
•
Nic Matich is a mechanical engineer and
finance professional with over 17 years'
experience in the resources sector.
•
His wide industry experience includes the
provision of engineering, risk consulting and
insurance services to numerous tier 1
mining companies with operations in lithium,
iron ore, mineral sands and gold.
•
•
Nic has helmed Pinnacle for 18 months
having joined the company post
IPO in 2022 overseeing the company's
transition to a technology and battery
metals explorer
Previously Executive Director of Heavy
Minerals Limited (ASX:HVY) that he led to
listing on the ASX in 2021, and key driver of
the company, delivering both a maiden
resource and scoping study (NPV8 $253M)
for the Port Gregory Project in his first
twelve months there.
Lincoln Liu
Non-Executive Director
Stephen Ross
Non-Executive Director
Maurice (Nic) Matich
Managing Director
•
Geologist, independent consultant and
public company director.
•
Has sourced significant investments for
junior explorers and pre-development
resource companies worldwide while
holding international managing director
and technical positions.
•
•
A member of the Australasian Institute of
Mining and Metallurgy, a member of the
Australian Institute of Company Directors,
and a Fellow of the Financial Services
Institute of Australasia.
Currently Managing Director of Desert
Metals, Chairman of lithium-brine
developer Power Minerals Limited; and a
director of Trigg Minerals Limited.
BBus, MCom, MBA
•
For over 15 years, Lincoln has worked in
Australian equities including stockbroking,
research and investment banking. Lincoln
has experience in IPO's, Placements,
Private Equity and M&A.
•
Industry expertise in resources sector and
has worked extensively with growth
companies including battery metals
explorers and developers.
•
Founder of a Sydney based Corporate
advisory firm.
•
Holds a Master of Commerce (Finance) from
UNSW & and MBA from USYD.
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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PINNACLE MINERALS OUR PARTNERS
Partners – Adina East
Lithium Royalty Corporation (LRC) Royalty Portfolio4
Electrification and Decarbonization AIE LP (E&D Fund)
Market Cap
Net Asset Value
Total Projects in Production
Projects under Construction
Development or Exploration
Total Royalties
Managed by Waratah Capital Advisors
$4B+ Funds under Management (FUM)
E&D Fund Investment Philosophy1
Waratah Electrification & Decarbonization Fund (“E&D”) is invested in high quality
battery material and related EV and decarbonization investment opportunities. While
the first wave of lithium developer value creation was substantial, it also came
with enhanced volatility and high risk given the early stages of electrification. As the
second phase of lithium project development occurs, with electrification inflecting to
mainstream for the industry and investors, E&D is positioned to grow equity
participation in lithium development companies and related sector opportunities.
C$590 Million as at 11 March 2024
C$1,096 Million
3
3
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35
Lithium Royalty Corporation (LRC)2,3
LRC is a lithium-focused royalty company with a diversified portfolio of royalties on
mineral properties around the world that supply and are expected to supply raw
materials to support the electrification and decarbonization of the global economy.
Due to the increasingly broad deployment of EVs, LRC's focus to-date has been on
the battery supply chain for the transportation industry.
1 – https://waratahadvisors.com/strategies/fund/electrification-and-decarbonization/
2 – LRC holds a 2% Gross Revenue Royalty over Adina East, Noranda Royalties Inc holds a 2% Gross Revenue Royalty over Adina East
3 – https://www.lithiumroyaltycorp.com/about/company-profile/default.aspx
4 – https://www.lithiumroyaltycorp.com/home/default.aspx
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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CAPITAL STRUCTURE
Capital Structure1
Top 10 Shareholders (Top 20 hold 62.3%)1
Shares on Issue
45,463,317
ED Spod 1 Corp*
9,088,117
19.99%
Market Capitalisation at 8.1c / share
$3.68m
Mr. William Witham and Ms. Katherine Jensen <Acorn Family A/C>
2,400,200
5.28%
Cash in bank2
$1.86m
Exploration Resources Pty Ltd <Exploration A/C>
2,400,000
5.28%
Enterprise Value
$1.82m
RWH Nominees Pty Ltd
2,400,000
5.28%
Options on Issue
44,867,271
Seattle Capital Pty Ltd <Seattle A/C>
2,100,000
4.62%
JCR Investments Co P/L <Adrian Venuti Family 3 A/C>
1,680,000
3.70%
Vermillion Minerals Pty Ltd <Vermillion A/C>
1,500,000
3.30%
Scintilla Strategic Investments Limited
1,389,250
3.06%
Austanco Pty Ltd
765,000
1.68%
Ms. Chunyan Niu
700,000
1.54%
TOP 20
28,324,701
62.30%
* ED Spod 1 Corp is a fund managed by Waratah Capital Advisors
1 – As of the 1st of April 2024
2 – Cash on hand as of the 31st of March 2024
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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PINNACLE : We’re Charging Towards the Future
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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ADINA EAST HIGHLIGHTS
147 claims encompassing 72.7km2, located in the prolific
James Bay "lithium" district of Quebec
75% project ownership, 25% held by Electrification and
Decarbonization AIE LP (E&D Fund), a fund managed by
Waratah Capital Advisors ($4B CAD under management)
US $500,000 payment made in December 2023 by E&D Fund for
25% offtake from Adina East
Adjacent to: Trieste Lithium Project (Loyal Lithium, LLI:ASX)
Proximal to: Adina Lithium Project (Winsome Resources,
WR1:ASX)
La Grande Alliance eastern road will open up the Trieste
greenstone belt and is mapped to pass through the Adina East
Project
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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ADINA EAST THE FOCUS
Adjacent to interpreted extension of the Trieste greenstone belt1
Loyal Lithium reported 31.8m at 2.2% Li2O in spodumene
bearing pegmatite dykes starting < 5km from the western edge
of the project2
Mapped as having a similar geological setting as the Trieste
Lithium Project (LLI.ASX) - Targeting metasediments in
greenstones3
Key “fractionation ratios” of K/Rb below 100 suggest the
potential for a spodumene-bearing pegmatite to have been
generated in the area
Increasing
Fractionation
Significant rubidium enrichment, up to 658 ppm, indicative
of an LCT fraction trend which is a precursor to lithium
saturation.
1 – Pinnacle Minerals Geological interpretation and Loyal Lithium - https://loyallithium.com/trieste-lithium-project/
2 – Loyal Lithium ASX Announcement 32st of March 2024 - "Dyke #05 "
3 – Pinnacle Minerals Geological interpretation and Loyal Lithium - https://loyallithium.com/trieste-lithium-project/
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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ADINA EAST EXPLORATION PLAN
LIDAR and Orthophoto survey to identify potential pegmatite
outcrops and facilitate efficient and targeted fieldwork
Prospecting / Rock chipping once targets identified
Focus on Metasediments, similar to those where Loyal Lithium
intercepted 31.8m at 2.2% Li2O
Exploration timeline
•
LIDAR and Orthophoto – May / June 2024
•
Field mapping and rock chip sampling – July 2024
•
Diamond drilling or trenching of lithium targets – Q4 20241
Pegmatite outcrop2
Highly anticipated news flow from mid Q2 2024!
1 – Pending successful exploration campaign
2 – Example of successful identification of a pegmatite outcrop utilising LIDAR and Orthophotos (ASX:MRZ - Bohier Project)
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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CAPEL DEVELOPMENT OPPORTUNITY
Brownfield, high quality ilmenite1 exploration /
development project
Previous drilling by Iluka delivered shallow HM mineralisation2
•
21m at 3.3% HM from surface (RB007)
•
21m at 2.6% HM from surface (RB001)
2,000m drilling program expected to begin Q2 - 2024
Resource definition and concept study to progress immediately
upon successful drilling campaign
Synergies with global mineral sands miners operating in the
region
1 – Based upon the previous exploration and mineralisation trends in adjacent projects
2 – Pinnacle Minerals ASX Announcement 20th March 2023
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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WIRRULLA SOUTH AUSTRALIAN URANIUM
Uranium and ionic absorption rare earth element potential in regionally
significant Narlaby paleochannel
Project is centred on a circular magnetic feature resembling a Mount Weld
style intrusion
High-grade uranium (U3O8) mineralisation at Yarranna1 and ionic absorption
REE mineralisation at Boland2 hosted in the Narlaby palaeochannel which is
mapped to cover an extensive footprint with-in the Wirrulla Project
Satellite and radar imagery analysis has highlighted uranium (U3O8)
mineralisation potential and defined a number of priority target areas
Review of historical core underway, with XRF and assay results pending
1 – Open File Envelope No. 4010, Carpentaria Exploration Co. Pty Ltd, 1984
2 – Cobra Resources PLC (COBR.LON) LSE announcement dated 11th September 2023
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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INDICATIVE TIMELINE1
CANADA (Lithium)
Adina East - LIDAR
Adina East - Field mapping and rock chip sampling
Adina East - Diamond drilling / trenching of lithium targets2
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Abitibi (Lac Rug) - Field mapping and rock chip sampling
SOUTH AUSTRALIA (Uranium and Rare Earths)
Wirrulla – Historical drill core XRF & assays
Wirrulla – Drill program permitting (PEPR)
Wirrulla – Drilling uranium targets
WESTERN AUSTRALIA (Mineral Sands)
Capel – AC Drilling campaign
Capel – Resource Definition3
Capel – Concept Study4
1 – Timeline is indicative and subject to change
2 – Pending successful identification of spodumene at Adina East
3 & 4 – Pending successful mineral sands drilling campaign
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
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PINNACLE : We’re Charging Towards the Future
EMERGING BATTERY & TECHNOLOGY METALS COMPANY IN TIER-ONE JURISDICTIONS
+61 475 870 345
admin@pinnacleminerals.com.au www.pinnacleminerals.com.au
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