Critical Metals Corp. · NASDAQ:CRML
Critical Metals — SPAC Merger (October 2022)
32 slides from Critical Metals's SPAC merger presentation, October 2022
Slide 1: Investor Presentation October 2022
ASX: EUR NASDAQ: SZZL INVESTOR PRESENTATION October 2022 CONFIDENTIAL
Slide 2: U.S. Disclaimers
U.S. DISCLAIMERS CONFIDENTIAL Basis of Presentation These Presentation Materials are provided for informational purposes only and have been prepared to assist interested parties in making their own evaluation with respect to a potential business combination among European Lithium Limited (“European
Slide 3: U.S. Disclaimers Continued
U.S. DISCLAIMERS CONTINUED CONFIDENTIAL Financial Information The financial information and data contained in this presentation is unaudited and does not conform to Regulation S-X promulgated by the SEC. In addition, Accordingly, such information and data may not be included in, may be adjusted in o
Slide 4: Australian and Non-US Disclaimers
AUSTRALIAN AND NON-US DISCLAIMERS CONFIDENTIAL This presentation and any additional documents handed out at any meeting or provided directly to potential investors (together the “Presentation Materials”) have not been reviewed or approved by (i) NEX Exchange Limited or by any authority which could b
Slide 5: Australian and Non-US Disclaimers Continued
AUSTRALIAN AND NON-US DISCLAIMERS CONTINUED CONFIDENTIAL Please note that the photographs and images used in the Presentation Materials are illustrative and may not show Company assets / licence areas. By attending the presentation and/or retaining these Presentation Materials you will be taken to h
Slide 6: Introducing Sizzle Acquisition Corp
INTRODUCING SIZZLE ACQUISITION CORP CONFIDENTIAL STEVE SALIS JAMIE KARSON CAROLYN TRABUCO CEO Vice Chairman Director • Founder and entrepreneur with 17+ years of • Corporate Executive and lawyer with 25+ years of • 25+ years in institutional asset management with experience founding, acquiring, deve
Slide 7: Critical Metals Corp Proposed Board & Management
CRITICAL METALS CORP PROPOSED BOARD & MANAGEMENT CONFIDENTIAL Tony Sage Dietrich Wanke Melissa Chapman Executive Chairman CEO CFO • 35 years of experience developing businesses, • Experienced executive mine manager with 30 years of • 20+ years of experience in CFO, accounting and company including i
Slide 8: Building Europe's First Fully Licensed Lithium Mine
CRITICAL METALS CORP CONFIDENTIAL BUILDING EUROPE’S FIRST FULLY LICENSED LITHIUM MINE FOR THE ELECTRIC VEHICLE REVOLUTION (1&2) Mine Leading Compelling Near-Term License Strategic De-SPAC Contracted Secured(2) Partnerships Valuation Revenue STRATEGIC PARTERNSHIPS EXCITING NEAR-TERM CATALYSTS Lithium
Slide 9: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS CONFIDENTIAL Europe’s first(1) fully licensed Fully licensed(2) mine built by the Austrian government Lithium (spodumene) mine High purity Lithium (99.6% Li2CO3) made at pilot plant in partnership with Dorfner Anzaplan Economic viability Lithium hydroxide production @ US$26
Slide 10: Company Introduction
COMPANY INTRODUCTION CONFIDENTIAL
Slide 11: Asset Introduction
ASSET INTRODUCTION CONFIDENTIAL Wolfsberg Lithium Project • Advanced hard rock lithium project • Located 270km SW Vienna, Austria (Carinthia) • Center of growing EU, lithium battery & EV industry • EU support from European Battery Alliance and other government initiatives • Positive PFS completed (1
Slide 12: A Mine in the Heart of European Battery Production
A MINE IN THE HEART OF EUROPEAN BATTERY PRODUCTION Norway and Skelleftea, Sweden Planned European factories at varying commissioning stages, totalling more than 20 GWh annual production capacity of Lithium Ion Batteries AIMING TO BE THE FIRST AND LARGEST LOCAL SUPPLIER OF CRITICAL LITHIUM FOR THE EU
Slide 13: Strategic Partnership & Offtake
STRATEGIC PARTNERSHIP & OFFTAKE CONFIDENTIAL Exclusive offtake on battery grade lithium hydroxide including US$15M prepayment Secured Offtake Industry Validation • On August 5, 2022 European Lithium disclosed a memorandum of understanding with BMW AG for offtake and pre-payment of Lithium Non-Diluti
Slide 14: Wolfsberg Lithium Project
WOLFSBERG LITHIUM PROJECT CONFIDENTIAL The First lithium concentrate producer in Europe with spodumene production anticipated to commence in 2025 Existing exploration mine in central Europe, 270km SW of Vienna, close to Graz and Klagenfurt airport, railway and highway access. Excellent local infrast
Slide 15: Geological Resource Statement
GEOLOGICAL RESOURCE STATEMENT CONFIDENTIAL Million Tonnes Type (JORC*) Grade Li2O (%) (at present) Measured 4.31 1.13 Indicated 5.43 0.95 M&I Total 9.74 1.03 Inferred 3.14 0.90 Total 12.88 1.00 JORC* Code 2012 Resource at Zone 1 only (1) High grade Resource at average 1.0% Li2O Positive drill result
Slide 16: Historical & Future Exploration Programs
HISTORICAL & FUTURE EXPLORATION PROGRAMS CONFIDENTIAL HISTORICAL RECENT EXPLORATION • Substantial exploration and development work by previous owners include approx. 17,000m of drilling / 1,400m of underground decline, drives and crosscuts. • A deep hole drilling program comprising four holes totali
Slide 17: Pilot Plant & Test Production
PILOT PLANT & TEST PRODUCTION • Commissioned Dorfner Anzaplan with the construction of a pilot plant • Production of spodumene concentrate from lithium-bearing ore from test mining • Processing of spodumene concentrate to lithium carbonate and hydroxide for testing by potential offtake partners • Re
Slide 18: Development Strategy
DEVELOPMENT STRATEGY Long Term Agreement (LTA) with BMW Group – Expected as early as November 2022 Completion of Definitive Feasibility Study – Expected Q1 2023 Build Decision & Project Financing – Q1 2023 Prepare mining plan for the Mining Authority to authorize the mine and concentrator constructi
Slide 19: Project Financing & Transaction Overview
PROJECT FINANCING & TRANSACTION OVERVIEW CONFIDENTIAL
Slide 20: Transaction Summary
TRANSACTION SUMMARY Of proposed business combination CONFIDENTIAL PROPOSED TRANSACTION HIGHLIGHTS PROPOSED SOURCE & USES Valuation • Transaction implies $838M pro forma enterprise valuation • Implied pre-money market capitalization of $750M • Additional shares up to 10% of transaction closing consid
Slide 21: Valuation Benchmarking: Comparable Developers
VALUATION BENCHMARKING: COMPARABLE DEVELOPERS CONFIDENTIAL Critical Metals Corp valuation presents significant upside vs. Near IMPLIED MARKET CAPITALIZATION VS PEERS (US$M) Term Producers on a Pro Forma Market Capitalization basis Average Market Capitalization: $1,691 $3,370 $3,220 Assumed Pro Forma
Slide 22: Valuation Benchmarking: U.S.-Listed Battery Materials
VALUATION BENCHMARKING: U.S.-LISTED BATTERY MATERIALS CONFIDENTIAL Assumed Pro IMPLIED MARKET CAPITALIZATION VS US-LISTED BATTERY MATERIALS PEERS (US$M) Forma Equity $6,000 Value of $972M Market Capitalization - Pre U.S. Listing Median percent increase Market Capitalization - Trading on NYSE or Nasd
Slide 23: Valuation Comparable: Core Lithium
VALUATION COMPARABLE: CORE LITHIUM CONFIDENTIAL Comparable Project Size | Plan to Produce Lithium by 2024 | Fully-Permitted | Strategically Located BINDING OFFTAKE ENTERPRISE VALUE LI CONCENTRATE ARRANGEMENT (US$M) (1) FULL PERMITTED PRODUCTION IN 2024E (2) ANNOUNCED (3) FEASIBILITY STAGE POST-TAX N
Slide 24: Clear Path to Valuation Re-Rate
CLEAR PATH TO VALUATION RE-RATE CONFIDENTIAL Development Stage Peer Group Valuations (1) Key Milestones to Unlock Value: $5,000M Production Licensing Approvals $4,500M $4,000M Preliminary Feasibility Study Market Capitalization (US$) $3,500M Offtake & Strategic Partnership Post Feasibility Construct
Slide 25: Offtake Agreements: Historical Price Change Effect
OFFTAKE AGREEMENTS: HISTORICAL PRICE CHANGE EFFECT CHANGE EFFECT CONFIDENTIAL DATE OFFTAKE AGREEMENT DETAILS 1M CHANGE (%) 9/28/2020 Piedmont Lithium signs offtake agreement with Tesla for 160ktpa for 5 years (NASDAQ:PLL) 93% 1/11/2021 Sayona Mining secures investment and offtake from Piedmont Lithi
Slide 26: Appendix 1: Lithium Market Overview
APPENDIX 1: LITHIUM MARKET OVERVIEW CONFIDENTIAL
Slide 27: Demand Gap: Global Lithium Market
DEMAND GAP: GLOBAL LITHIUM MARKET GLOBAL LCE PRODUCTION SHARE BY CURRENT PRODUCERS 2.5 2030 Demand 2 Production (Mt LCE) 1.5 ~4x increase in Global LCE Demand 1 0.5 2022 Demand 0 Other Producers Source: Bloomberg New Energy Finance CONFIDENTIAL 26
Slide 28: Lithium Price and Supply
LITHIUM PRICE AND SUPPLY Short-Term Market Dynamics (1) • In the short term (2022-2024) it remains difficult to see how supply can reach demand. • Normally, some demand is brought forward to account for delays in delivering lithium from upstream to end users. The proportion of demand brought forward
Slide 29: Appendix 2: Risk Factors
APPENDIX 2: RISK FACTORS CONFIDENTIAL
Slide 30: Risk Factors
RISK FACTORS CONFIDENTIAL All references to the “company,” “we,” “us” or “our” refer to European Lithium Ltd (“European Lithium”) and European Lithium AT (Investment) Ltd. (the “company”) and their consolidated entities prior to the Potential Business Combination, and for periods following the closi
Slide 31: Risk Factors Continued
RISK FACTORS CONTINUED CONFIDENTIAL Operating Risks • The development of mining operations at the project is dependent on a number of factors, many of which are beyond our control. If we commence production at the project, our operations may be disrupted by a variety of risks and hazards that could
Slide 32: Critical Metals Corp
CRITICAL METALS CORP www.criticalmetalscorp.com CONFIDENTIAL