 Great conference as as always really appreciate everyone coming. I am Paul Farquherson with EcoBalt See if we can figure this out here essential power infinite possibilities our Time frame here is pretty short So I will try and flip through here as fast as I possibly can so we have a little bit of time at the end for some Some questions Once again our disclaimer there might be some risk in a mining project This this statement here I think is is critical for us to look at and pay attention to because we are committed to providing ethically produced environmentally sound battery grade cobalt salts Essential for the rapidly growing rechargeable battery and renewable energy sectors made safely responsibly and transparently in the United States. We are the only company in the world. I believe they can make that statement Just a little bit about us. I'm president CEO Mark Trann our CFO has operational experience Rick Hansinger senior VP technical and Monty Sutton. You'll see this afternoon our manager of corporate development He'll be on some of the panels this afternoon. We are cashed pretty good. We did a bot deal with can accord and eight capital in Announced at February 16th closed at February 28th So we have about 20 million dollars in the bank right now, which is really Giving us some some power and clout with a balance sheet like this to be able to attract some very good talent We're on the hunt here for a chief operating officer As we move forward So the cobalt and the cobalt demand it's in a deficit situation here The bulk of the cobalt is used now in the battery sector here The growth rate for cobalt is phenomenal Back in 2008 9 went to about $50 a pound and that was mainly driven by the supply story. It's coming out of the DRC Today, it's really the demand for cobalt is really based on actual demand of cobalt coming out of the lithium-ion battery business so growth rate phenomenal for cobalt chemicals and Refine cobalt for all cobalt The market is about a hundred thousand tons per year and they anticipate it will be or two hundred thousand tons per year Short-term see if we can get a slide here Once again just a little bit more about the batteries the batteries of choice the LCOs lithium cobalt oxide batteries for your watches and iPhones your big batteries for your Electric vehicles and MCs and NCA's that's where the growth is coming into the future here oops So here's our batteries of choice The LCO has about six percent cobalt by weight in the battery the NMCs are your samsung's your LG's about 10 10 to 20 percent cobalt by weight This seems to be the battery that's leading the church here with your electric vehicles also your NCA battery is your panasonic battery boat and Tesla battery So Peter I am mentioning the word Tesla here just so you know we We do talk to those guys they are In the business, but there's a lot of competition out there for people looking for The precursor material the cobalt material. So we have a pretty good audience out there now about nine to ten percent cobalt in those batteries So we're we all watch the news and what's going on here It's just phenomenal the kind of major battery major automobile manufacturers and the kind of vehicles and penetration They're going to have in the battery market just in the short term here You know for GM Audi votes wagon. They're all there downward Chrysler 15 to 25 percent electric vehicle penetration They're estimating by by 2025 And even with Tesla your 500,000 model 3 cars that they're anticipating if they can actually make them And if they can actually get the products to make them There's about 15 kilograms of cobalt per battery for a model 3 car So just for those cars in itself about 7,500 tons of cobalt is going to be required Once again, some of the headlines that are out there you guys would be aware of what's going on here Umicore going to be about 600% of the production where they've announced expansions in South Korea and China Apple Making a statement that they're not purchasing any more of the cobalt from the DRC because they don't have a clear supply chain GM everybody's in the news. Everybody's making the vehicles. So where where's our cobalt coming from? Over 60% comes as a byproduct of copper 37% from from nickel. We are a primary cobalt deposit located in the United States. There's only one other Primary cobalt deposit in the world that's in production and it's in Morocco So I'm going to start there trying to pick up a little speed here We all know most of the cobalt comes from the DRC Primary cobalt production in the US is where we will be some comes out of Russia and Cuba This is a fairly recent slide that we have from CRU. CRU is assisting us with Transparent marketing report for our feasibility study the price of Cobalt for the product we're making cobalt sulfate have to hydrate is about $30 plus a pound It was actually thirty eight dollars pound or thirty three dollars pound in China There's about a five dollar premium right now from the 99 three metal which trades LME So good upside Now here specifically is our project which is located in Idaho We Have over a hundred million dollars spent on the project. That's an actual photograph of the project We were just down there last week touring some major major Off-take companies at the property the mine and mill to the north here That's the site those tailings waste storage facilities are about 14 acres each our water management ponds about five acres This is a fully environmentally permitted project at the mine and mills So we have our record of decision for the plan of operation and we have our EPA permit for water discharge So those are the big ones. So as we speak we're completing a PEA, excuse me a feasibility study to update our PEA So once again our feasibility study is underway. We started last year. It is Eminent that it's going to be produced here. I'm going to say If I if I tell you what the engineers tell me and I'm usually wrong So I'll just say we anticipate having it out first half of this year which is fast approaching the the Ram deposit which is what the feasibility study will be based on is represents only seven percent of our claims our Area that we have on the project is about 2,500 acres So we do have tremendous room to be able to expand the project Here's some of the grades on the project here very very high-grade cobalt deposit 800 ton per day underground mine Transport up to our crusher and our concentrator We'll produce 32 tons of con and we'll ship that con to the south to our cobalt production facility which is just a fancy name for a Processing facility where we'll have a hydro metallurgical process to process the the product into a cobalt sulfate have to hydrate Once again, this will all be updated in the feasibility study Just a little bit on our our drilling of the ram I think there's about a hundred holes into the ram. It's open at both strike extensions and at depth So we we always had intended we'd expand the deposit once we get to underground Soon as we had 10 plus years mine life. We stopped drilling and started doing our Studies to see if we could finance this project The halo just kind of shows there's our mine work and there hello just shows that At depth we do have the product and along strike There's lots of room to expand on this deposit simplified flow sheet as simple as I can get it. There's Probably a lot smarter people in this room here that could go through this but the bottom line is we will have a Cobalt sulfate will produce a copper sulfate Copper con magnesium sulfate and some gold and this is this is what kind of sets us aside from anyone else here Very low carbon footprint, which we talked about earlier in the in the conference here that the the metal summit about the kind of Uses of the new energy metals out there in the United States It used to be extremely low geopolitical risk now with our new president down there I'm not exactly sure how that's going to work, but he is pro-business should be very good for us Clean water discharge Transparent supply chain, so we will be able to Compete with anyone in the world and I believe at some point in time we will get a Kind of a premium for having a product in the United States, but coming out of the gate We're going to have to be able to compete with China which we can These economics are our PEA economics, so they will all be updated in the next six to eight weeks What I want to point out here is the 113 million NPV at a very conservative discount rate for every dollar The price of cobalt increases you increase your NPV by about 18 million dollars and these numbers were based on 1450 cobalt, which is you know $25 today and 1950 cobalt sulfate have to hydrate and it's about $30 today, so we're looking for a pretty good improvement on those economics The milestones I'm going to flip through fairly quickly because I want to concentrate on our closing here This is critical to us now the Bot deal was closed. We're going to have a feasibility study completed in the in the next short term Micron engineering is looking after the mining and milling and SNC leveling is looking after the processing as that is going on and as part of the feasibility study We did metallurgical drilling last fall that product was used is being used by SNC lab than a micron to do confirmatory recovery works for the feasibility study But the bonus to all this is we're actually making our own products We're actually making cobalt sulfate have to hydrate which is has been shipped to potential off takers They get the product they can do their own testing on the product. They want more of the product We can only provide Small amounts kilograms amounts, but that's enough for them to test go to their clients Their clients are coming back and saying this product meets or exceeds all cobalt sulfate That's out in the market and they do have an interest in pursuing an offtake with us Which I believe is going to be critical to put the put the whole financing together So if we can accomplish that by the end of of this year, I think we'll be ready for construction next year If you have a big balance sheet off taker that comes to the table They will bring senior desk with them because they've they vetted your project We're we're making some good head roads on that headways on that the big key here is that The guys want the feasibility study. So that's the key document that we need to get out there So here's our project primary high-grade Cobalt project in the United States Very small environmental footprint, which is good corporate social responsibility Dry stack tailings half our tails paste backfill underground clean water discharge permit with the EPA in place tremendous upside on the deposit Lots of other areas that we have look we've put drill holes in Tremendous demand from all the major auto manufacturers and the the battery companies You know a year ago. We were making 25 phone calls and getting one call returned today We're getting 25 phone calls. So it's it's a lot different scenario out there Ethical sourced transparent supply good corporate social responsibility There are my clocks flashing That's about as fast as I can go through it Tracy