TLC LITHIUM PROJECT, NEVADA

PROJECT OVERVIEW

The TLC Project is a near-surface “Made in America” lithium deposit – one that is amenable to low-cost, sustainable mining methods. Studies show that no protected plant or wildlife species are impacted by our operations. 

The project itself is also located near the regional hub and county seat in the town of Tonopah, Nevada. Logistics (paved roads, power, etc.) are superior for development and water resources are not constricted as at Clayton Valley. 

On December 1st, 2022, the Company announced an updated Mineral Resource Estimate (“MRE”) that significantly increased the contained lithium resources for the TLC project. This MRE was completed as part of the process of compiling the maiden preliminary economic assessment and was incorporated into the Mine Plan within the maiden PEA, which was released on February 1st, 2023

TLC currently hosts 4.2Mt lithium carbonate equivalent (LCE) measured resources, 4.63Mt LCE indicated resources and 1.86Mt LCE inferred resources.

Base Case

PROJECT HIGHLIGHTS

3.8 Years Payback

$ 0 B
NPV (8%), Base Case

IRR 27.5% (after-tax using USD$20k/t Li2Co3 selling price)

Low CapEx

$ 0 M
Initial Capital

High Cash Flow

$ 0 M
Life of Mine (LOM)

US$396M average annually

  • After-tax NPV8: $3.64 B at $20,000/t LCE 
  • After-tax IRR: 27.5%
  • After-tax payback: 3.8 years
  • After-tax cash flow: $396 M
  • Initial CapEx: $819 M, Total CapEx: $1431 M
  • OpEx: Estimated at $7443/t LCE inclusive of power credits
  • PEA mine plan produces 46 Mt LCE over 40 years.
  • Average LOM production of ~ 38,000tpa LCE for 40 years
  • Scalable, 40-year mine life producing battery-grade lithium carbonate (“Li2CO3”)
  • Identical LCE production, added LOM average production of 1,681,856 tpa of magnesium sulfate  (“MgSO4” – monohydrate and heptahydrate) by-products
  • After-tax NPV8: $5.16 B at $20,000/t LCE & $150/t MgSO4
  • After-tax IRR: 36.0%
  • After-tax payback: 3.7 years
  • After-tax cash flow: $591 M
  • Initial CapEx: $827 M, Total CapEx: $1439 M
  • OpEx: Estimated at $7443/t LCE inclusive of power credits; estimated at $817/t LCE, inclusive of power & MgSO4 credits.
  • PEA mine plan produces 46 Mt LCE and 64.9 Mt MgSO4 over 40 years.

Lithium Carbonate Equivalent (LCE)

0 M tonnes LCE
Measured Resources
0 M tonnes LCE
Indicated Resources
0 M tonnes LCE
Inferred Resources

5,062 Ha Expansive, Near-surface Deposit

3.5hrs drive to Tesla's giga-factory

Supportive government and local communities

Baseline studies have confirmed no species or habitat protected under the Endangered Species Act are present within the Project Area

ADVANTAGES

Environmental Advantages

No Water Issues

  • Entire resource above the water table
  • No groundwater, run-off or watershed issues
  • Water rights secured

No Endangered Species

  • Baseline studies have confirmed no species or habitat protected under the Endangered Species Act

Low Deleterious Elements

  • Low mercury, low arsenic, low radioactivity (uranium)
  • Low contaminants in waste material

Life Cycle Assessments

  • Minviro Sustainability Consultants to provide life cycle assessments for the production of battery grade lithium, focusing on minimizing environmental impacts.

Processing Advantages

Simple Lithium Upgrading

  • Gravity separation upgrades lithium
  • Achieved results up to 1300→ 2200 ppm

Unique Claystone Characteristics

  • Near surface, easy to mine, highly leachable
  • Lithium is weakly bound to the clays

LOCATION

The TLC claims are located 6 miles northwest of Tonopah in Big Smoky Valley, which is best known for hosting a large solar power plant. TLC’s proximity to Tonopah offers ready access to paved roads, electricity, water and skilled labor. The region is a center of epithermal mineralization that produced 138 million ounces of silver, as well as considerable molybdenum output too.

MINERAL RESOURCES

In December 2022, an updated mineral resource was released. TLC currently hosts 4.2Mt lithium carbonate equivalent (LCE) measured resources, 4.63Mt LCE indicated resources and 1.86Mt LCE inferred resources.

HISTORY

Tonopah is an unincorporated town and county seat of Nye County, Nevada, United States. It is located at the junction of U.S. Routes 6 and 95, approximately midway between Las Vegas and Reno. It is home to the second-richest silver strike in Nevada history and was explored extensively since the early 1900s.

The TLC project is a new lithium claystone discovery located to the northwest just outside of Tonopah.