Announcement PDF Australian Critical Rare Earth Minerals The REE Potential of the Esperance District Technical Presentation ANU REE Conference 16 November 2023 ASX I OD6 1 Important Information Disclaimer This presentation has been prepared by OD6 Metals Ltd (ACN 654 839 602) (OD6) and is current as at the date of this document. The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without considering the investment objectives, financial situation or needs of any particular person. Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate considering your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance. Any securities that may be issued by OD6 should be considered speculative and there is no guarantee implied or explicit that there will be a return on the capital invested or that any dividend will be paid or that there will be an increase in the price or value of OD6’s shares in the future. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. 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Competent Person Statement The information contained in this presentation that relates to the Mineral Resource estimation is based on information reviewed by Mr Jeremy Peters who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Chartered Professional Geologist and Mining Engineer of that organisation. Mr Peters is a Director of Burnt Shirt Pty Ltd, consulting to OD6 and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Peters consents to the inclusion of the data in the form and context in which it appears. Forward Looking Statements Certain statements contained in this presentation, including information as to the future financial or operating performance of OD6 and its projects, are forward looking statements. Such forward looking statements: • may include, among other things, statements regarding incomplete and uncertain proposals or targets, production and prices, operating costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions; • are necessarily based upon several estimates and assumptions that, while considered reasonable by OD6, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and • involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forwardlooking statements. OD6 disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward looking statements. All forward looking statements made in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein. No representation is made that, in relation to the tenements the subject of this presentation, OD6 has now or will at any time in the future develop further resources or reserves within the meaning of the Australian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves (The JORC Code). No New Information This document contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (2012 JORC Code) and available for viewing at https://www.od6metals.com.au/investors/asx-announcements/. OD6 confirms that it is not aware of any new information or data that materially affects the information included in any original ASX market announcement. 2 Globally Significant Clay Hosted Rare Earth Discovery 100% owned project areas in one of the world’s great mining countries • 344Mt @ 1,308ppm TREO Inferred Resource at a 1,000ppm cut off grade at Splinter Rock • MagREO represent an average of ~23% of TREO grade • Thick 10-80m intersections • High 61% average acid leach recoveries • Average 16 kg HCl/t ore with multiple zones at 6-10 kg HCl/t ore • 400km2 of clay basins mapped by an Airborne electromagnetics (AEM) survey • In a first-class location, close to port, roads and essential infrastructure TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 % Magnet REO = (MagREO / TREO)*100 3 Esperance District Geological Setting ASX I OD6 4 Esperance Rare Earth Explorers Esperance district has extensive volumes of clays identified 5 Regional Geology Multiple Clay Prospects in different geological formations • Yilgarn Tectonic plate boundary zone, intruded by granitoids approximately 1.2 billion years ago Grass Patch Splinter Rock • Following glaciation, approximately 250 million years ago, isostatic rebound resulted in deep weathering along the Ravensthorpe Ramp • Recent highly acidic ground water and topographic differences mobilized REEs into the groundwater 6 OD6 Splinter Rock Project Geology ASX I OD6 7 Splinter Rock Geology Heavily enriched in Rare Earths A • Splinter Rock tenure and exploration model targeting clay basins fed by weathering of Booanya granites X • The strong enrichments in REE distinguishes Booanya granites from all other granite groups in the Esperance area • CSIRO engaged to use cutting edge techniques in geophysics, geochemistry and mineralogy A X Y Y B B Conceptual Geological Formation Collaborating with CSIRO to model the clay basins Low High 9 Highly Targeted Exploration Program Clay area and thickness strongly correlate with Airborne Electromagnetic survey (AEM) AEM facilitated mapping of clay locations, expanse, potential clay thickness and surface cover depth, with over 400km2 of clay basins covered 10 Regional Ground Water Highly Acidic and Saline CSIRO ET Hydro database provides important insight Acidic waters with a pH of 3 to 4 have most likely leached rare earths from weathered granite into solution, mobilised them and re-precipitated into ionic and secondary REE minerals Source: CSIRO ET Hydro 11 Elevation Changes a Key Feature Weathering and Transportation needs consideration • The significant elevation change referred to as the Ravensthorpe Ramp is a key exploration driver of potential clay types, deposition thickness, grade and REE recoveries • Granites, rich in REE minerals, have been progressively weathered into clays and transported, through groundwater and chemical weathering, to be deposited in clay saprolitesediment basins and channels 12 Prospect Geological Setting Associated characteristics allow for the following observations Centre: Large clay basin within an elevated tableland. REE have potentially pooled in this area from Booanya granite to the north. Scrum: Magnetic dipole, with the northern area coinciding with a magnetic high in Booanya granite grading to a magnetic low in the south. Prop: Located at the lowest elevation and is surrounded by Booanya granite to the north and south and interpreted to be a paleo-valley filled with clay. Flanker: Sits on top of a magnetic high on the Booanya granite and most likely to comprise some transported clays but is potentially related to a localised saprolite granite profile. It is noteworthy that there is regional prospectivity to the northeast (Tighthead and Loosehead) of the Splinter Rock tenements which show thick clay zones surrounded by Booanya granites, within a potential palaeovalley, as well as a number of salt lakes. This is very similar to the Prop Prospect and will form part of a future regional exploration drill program. 13 CSIRO Hylogger Preliminary Data Aiding geo-metallurgical characterisation • REEs deposited into thick kaolin channels/basins Clay mineralogy Scope 1:2610; 2609 Points, r=0.618; Aux: colour plain R GB Scope 1:2610; 2609 Points, r=0.618; Aux: colour plain 220 240 c o l o u r 160 140 120 100 Z_DEM 180 200 p l a i n Crystallinity Clay Colour spectra 60 • Zones of high kaolin crystallinity are favoured potentially due to lower processing acid consumption Flanker TREO ppm 80 • Black carbonaceous clays are a source for natural acid groundwater (and low in REE) 6328000 6330000 6332000 6334000 6326000 Northing 6336000 6328000 6338000 6330000 6340000 6332000 6342000 6334000 6344000 Northing 6336000 6338000 6340000 14 JORC Mineral Resource Estimate ASX I OD6 15 Mineral Resource Modelling Less than 5% of identified clay basins included in Mineral Resource Estimate Centre Prospect Scrum Prospect 149Mt @1,423 ppm TREO 120Mt @1,222 ppm TREO Prop Prospect 33Mt @1,180 ppm TREO Flanker Prospect 42Mt @1,246 ppm TREO For full Mineral Resource estimate details refer to OD6 ASX announcement 18 July 2023, “Maiden Mineral Resource Estimate”. OD6 is not aware of any new information or data that materially affects the Mineral Resource estimate included in that release. All material assumptions and technical parameters underpinning the Mineral Resource estimate in that release continue to apply and have not materially changed. 16 Splinter Rock Mineral Resource Estimate At 1,000 ppm cutoff grade Prospect Category Australia’s highest grade and largest clay hosted MRE Delineated from less than 5% of identified target area Tonnes (Mt) TREO (ppm) Pr6O11 (ppm) Nd2O3 (ppm) Tb4O7 (ppm) Dy2O3 (ppm) MagREO MagREO (ppm) (% of TREO) Centre Inferred 149 1,423 71.2 244.6 2.6 14.1 329 23.1 Scrum Inferred 120 1,222 57.7 208.1 2.7 14.7 283 23.2 Flanker Inferred 42 1,246 58.9 210.9 2.9 16.0 288 23.2 Prop Inferred 33 1,180 49.9 179.4 2.3 12.9 244 20.7 Total Inferred 344 1,308 62.5 220.2 2.6 14.5 300 22.9 The Mineral Resource estimate has been reported by an independent Competent Person in accordance with the provisions of the JORC Code TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 % Magnet REO = (MagREO / TREO)*100 For full Mineral Resource estimate details refer to OD6 ASX announcement 18 July 2023, “Maiden Mineral Resource Estimate”. OD6 is not aware of any new information or data that materially affects the Mineral Resource estimate included in that release. All material assumptions and technical parameters underpinning the Mineral Resource estimate in that release continue to apply and have not materially changed. 17 Splinter Rock Mineral Resource Estimate Focused on quality over quantity of resource P A quality MRE targeting the Best of the Best grade, recovery, strip ratio, acid consumption Cut-off grade (ppm TREO) Tonnes (Mt) TREO (ppm) Contained TREO MagREO (k tonne) (ppm) MagREO (% of TREO) Contained MagREO (k tonnes) 400 1,141 869 992 198 22.7 225 600 838 1,006 842 230 22.9 192 800 583 1,140 664 262 30.0 152 1,000 344 1,308 450 300 22.9 103 1,200 196 1,471 288 338 22.9 66 1,400 105 1,625 171 372 22.9 39 For full Mineral Resource estimate details refer to OD6 ASX announcement 18 July 2023, “Maiden Mineral Resource Estimate”. OD6 is not aware of any new information or data that materially affects the Mineral Resource estimate included in that release. All material assumptions and technical parameters underpinning the Mineral Resource estimate in that release continue to apply and have not materially changed. Final recovered tonnes will be significantly less than the contained tonnes stated and subject to ongoing metallurgical testwork. 18 MRE TREO Value and Distribution Nd, Pr, Dy, Tb represent ~90% of potential contained value TREO REE value TREO % distribution Tb4O7 Dy2O3 MagREO is ~90% of value Pr6O11 Nd2O3 Distribution 54.7% Nd2O3 16.8% 15.0% Pr6O11 4.8% 10.4% Dy2O3 1.1% 9.0% Tb4O7 0.2% 2.6% Gd2O3 1.5% 1.8% CeO2 44.3% 1.7% Lu2O3 0.1% 1.6% Y2O3 5.9% 0.8% La2O3 21.2% 0.8% Ho2O3 0.2% 0.7% Er2O3 0.5% 0.3% Eu2O3 0.4% 0.2% Yb2O3 0.5% 0.2% Sm2O3 2.4% 0.1% Tm2O3 0.1% Nd2O3 MagREO Value La2O3 Y2O3 Pr6O11 1,308 ppm TREO CeO2 TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 Note: Contained value is based on spot pricing sourced from Adamas Intelligence “ Rare Earth Pricing Quarterly Outlook” Q2 2023. The chart is illustrative only of where rare earth economic value will be primarily derived from. 19 Assay Method Needs to be Considered Consistency of reporting is key, but be aware of assay differences All geological drill assays at Splinter Rock were performed utilising the ALS 4-acid soluble digestion method as opposed to the ALS Lithium Borate Fusion Digest method. Typically, the Fusion Digest method returns results for resistate (refractory) non-acid soluble REE minerals, thus inflating the overall TREO grade. Work conducted by OD6 continues to show that utilising the fusion digest assay technique can increase head grade by up to 30% over a 4-acid assay method. This extra grade however is highly unlikely to be recoverable in the proposed processing flowsheet. OD6 has reported its Mineral Resource Estimate (MRE) based on the ALS 4-acid soluble digestion method. The metallurgical test program at ANSTO has undertaken duplicate head and tails assays utilising both the ALS 4-acid soluble digestion method and the ALS Lithium Borate Fusion Digest method. This allows comprehensive comparison of both data sets. Results reported by OD6 are based on the ALS 4-acid soluble digestion method for consistency across drill assay results, the MRE and metallurgical testing. 20 Resource Expansion ASX I OD6 21 Exceptional Phase 3 Drilling Success Real and substantial potential for Mineral Resource expansion Significant Results recently announced at Centre Prospect1 • 58 metres at 2,060ppm TREO (21.8% MREO) from 21 metres (SRAC0356) • 77 metres at 1,429ppm TREO (22.5% MREO) from 18 metres (SRAC0357) • 69 metres at 1,457ppm TREO (25.6% MREO) from 15 metres (SRAC0358) • 66 metres at 1,519ppm TREO (21.0% MREO) from 21 metres (SRAC0359) • 52 metres at 1,467ppm TREO (29.6% MREO) from 21 metres (SRAC0333) • 42 metres at 1,609ppm TREO (21.4% MREO) from 18 metres (SRAC0470) • 41 metres at 1,611ppm TREO (26.4% MREO) from 6 metres (SRAC0298) • 43 metres at 1,425ppm TREO (23.4% MREO) from 12 metres (SRAC0300) • 24 metres at 2,379ppm TREO (25.5% MREO) from 18 metres (SRAC0303) • 30 metres at 1,806ppm TREO (27.5% MREO) from 42 metres (SRAC0321) • 34 meters at 1,465ppm TREO (23.2% MREO) from 36 metres (SRAC0469) • 43 meters at 1,425ppm TREO (21.8% MREO) from 12 metres (SRAC0300) • 31 meters at 1,339ppm TREO (22.6% MREO) from 21 metres (SRAC0328) • 30 meters at 1,309ppm TREO (22.5% MREO) from 21 metres (SRAC0351) • 24 meters at 1,810ppm TREO (21.5% MREO) from 48 metres (SRAC0340) • 21 meters at 1,672ppm TREO (24.0% MREO) from 15 metres (SRAC0297) A$180k in co-funding provided by the WA Government flagship Exploration Incentive Scheme (EIS) 22 Centre Prospect Set to Grow Significantly Now 14km x 5km with 77% of drill holes intercepting grades >1,000ppm 23 Inside Centre is a Thick High-Grade Area 2km x 1km, up to 69m thick, with grades of 1,400ppm to 2,200ppm TREO 24 2024 Infill and Regional Drilling Continue to focus on identifying the “Best of the Best” Forward program, 2024 exploration focus: • Infill drilling at Centre and Prop • Expansional/extensional drilling at Centre, Flanker and Scrum • Testing new regional drilling at Loosehead and Tighthead 25 Metallurgy ASX I OD6 26 Strong Metallurgical Results Identifying the best metallurgical areas • Very high metallurgical recoveries achieved using simple acid leach • Average 61% MagREO recovery (range 43-87%) at 20g/l HCl • Average 16 kg HCl/t ore with multiple zones at 6-10 kg HCl/t ore Centre Prospect Scrum Prospect 54% to 78% recoveries (average 62%) three samples 64% recovery from single sample • Extractions at 15 to 20 g/L HCl appear to be a balance point on recovery, acid strength and acid consumption. • Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) have very similar recoveries • Screening of coarse-grained material expected to reduce leach material by 30-50% without appreciable loss of MagREO • >50 new samples at ANSTO with more to be added from Phase 3 drilling to identify “best of the best” areas Recoveries only reflect initial rare earth leaching, with further losses expected in precipitation, impurity removal, purification and drying. Prop Prospect 44% to 96% recoveries (average 71%) five samples Flanker Prospect 76% recovery from single sample 27 Indicative Processing Steps Simplified process map to deliver rare earth products MREC/H Mixed Rare Earth Excavate Transport Screen Acid leach Purify Precipitate Mine near surface clays Clays to processing plant Coarse material removal Rare Earths leached into solution Removal of impurities eg Al, Fe, U, Th Rare Earth carbonate precipitation HCl acid HCl acid Salt Renewable power Water No drill and No crushing blast No flotation No milling Solvent extraction and separation NaOH base P No drill & blast NoNo milling crushing RE Separation NaOH base Chlor-alkali process HCl NaOH Na2CO3 or NaOH NaOH base H2O NaCl Mixed RE Carbonate or Hydroxide product flotation NoNo high temperature No high temperature cracking cracking Recycle saline water Rehabilitate Transport Clay Washing Site revegetated Clays returned to mine void Clay washing, neutralisation and filtration Clay Rare Earths Water Reagents REOs Oxides Individual Rare Earth oxides Nd Pr Dy Tb No high No high pressure leach pressure leach No high No high temperature temperature leach leach 28 Acid Consumption and Reagent Costs Important to consider total reagent requirements, not just one step in the process • Vendor discussions confirm viability of potential site-based chlor-alkali facility • Indicative pricing for a chlor-alkali electrolyser is approximately £3M each (A$5.7M) • Chlor-alkali plant also provides a sodium hydroxide (NaOH) co-product which is utilised in impurity removal and precipitation of a final Mixed Rare Earth Product (MREC/H) • A single chlor-alkali electrolyser has the potential to produce 62ktpa HCl and 69ktpa of NaOH which, at an average consumption of 16 kg HCl / tonne of ore, is sufficient to treat ~4Mtpa of REE bearing clay 2H2O (l) + 2NaCl (aq) ----> H2 (g) + Cl2 (g) + 2NaOH (aq) H2 (g) + Cl2 (g) -----> 2HCl (g) Refer to publicly available information associated with a BICHLOR™ Electrolyser, 29 Clay-hosted REE Projects – what’s the difference? Processing steps are similar, mainly using different reagents and time OD6 Proposed Flowsheet Aclara & Meteoric Proposed Flowsheet No drill & blast No crushing No milling No flotation Key Points to Note OD6 Longer leach times = more tanks Both process use acid to lower the pH to 1 or 3-4 Both process need to neutralise the acid to remove impurities and produce a MREC/H Lower pHs have more impurities to remove Chloro-Alakli plant makes both acid and base onsite Ionic process needs multiple offsite produced reagents Reagents & Estimated Costs No high temperature cracking Hydrochloric Acid + Sodium Hydroxide No high $500/t HCl* + $0/t NaOH (Chlor-alkali onsite) pressure leach Ammonium Sulphate + Sulphuric Acid + Ammonium Bicarbonate # $350/t (NH4)2SO4 + $400/t H2SO4 + $250/t (NHNo high 4)HCO 3 temperature Consumption Rates are Key to Total Reagent Cost leach All projects will need Flocculants, Potable Water, other chemicals *Assuming renewable power, capital paid upfront # All figures are estimated current supplier pricing 30 Metallurgical Test Program Moving Forward Working with ANSTO to methodically optimise the process • Review leach performance of upgraded fines fractions following screening @75 µm • Undertake sighter bottle roll tests of selected Phase 3 and 2 drill samples • Bench scale tests to assess and determine preferred slurry densities and further optimise leach conditions • Slurry leach tests to assess slurry handling, filtration and washing • Impurity removal trials at various pH conditions, temperatures and reagents • Assess potential use of Resins in pulp and liquid to assist in impurity removal • Assess Ion Exchange on “leach” liquor and selective elution of REE versus impurities eg Al,Fe • Assess Nanofiltration to produce a retentate with increased REE concentration, and a permeate consisting of “clean” acid for recycle • Mixed rare earth precipitation of carbonates and hydroxides • Process modelling and techno-economic comparison of overall flowsheet options • Mini pilot scale testing of composited bulk samples • Apply process model to assess various options to convert the mixed rare earth carbonate/hydroxide in a downstream refinery to multiple potential rare earth oxides 31 Economic Drivers and Comparisons ASX I OD6 32 What does an Economic Project Look Like? Most analysts in the sector are using 5Mtpa for a key reason – REVENUE Clay volume treated (tpa) TREO Metallurgical (ppm) recovery TREO produced (tpa) MagREO produced % @23% (tpa) payable AUD;USD Revenue p.a. @ US$50/kg TREO Key Value Drivers 10,000,000 1,500 60% 9,000 2,070 70% 0.65 A$484M Grade >1,000 ppm TREO 7,500,000 1,500 60% 6,750 1,553 70% 0.65 A$363M MagREO Content >20% 5,000,000 2,000 60% 6,000 1,380 70% 0.65 A$323M Treatment Rate > 4 Mtpa 5,000,000 1,500 60% 4,500 1,035 70% 0.65 A$242M Mine Life >20 years 5,000,000 1,000 60% 3,000 690 70% 0.65 A$161M Resource Size >150 Mt 5,000,000 800 60% 2,400 552 70% 0.65 A$129M Recovery >50% 4,000,000 800 60% 1,920 442 70% 0.65 A$103M Low Stripping Ratio 3,000,000 800 60% 1,440 331 70% 0.65 A$ 77M 2,000,000 800 60% 960 221 70% 0.65 A$ 51M Low Reagent Usage / Cost 1,000,000 800 60% 480 110 70% 0.65 A$ 25M Low Power Costs This is conceptual in nature, but is used as a basis for the 1,000ppm resource cut-off and the “reasonable prospects of eventual economic extraction” under JORC 33 The Premier Australian Clay-hosted REE Project Already 450k tonnes of contained TREO with 103k tonnes of high value MagREE Enterprise value (A$M) Rare Earth Element Deposits (bubble size reflected contained TREO) 3000 Targeting Mineral Resource expansion based on recent phase three drilling results Meteoric 2500 High valuation re-rate potential based on TREO grade and potential Mineral Resource tonnage expansion 447 2000 Brazilian Rare Earths 1500 China MEK Longnan 1000 500 ABX WC1 265 OD6 HRE AR3 IXR VTM China Xunwu Tantalus Serra Verde China Xinfeng 0 0 100 200 300 400 500 600 700 Resource Tonnage (Mt) 800 900 1000 50 42 17 17 15 15 11 5 4 MEI BRE VMM MEK OD6 AR3 VTM KTA ABX WC1 HRE TREO Grade (ppm) Aclara Refer to Appendix A for calculation and reference details Source: Adapted from Euroz Hartleys Research Report, Company Reports, Phillip Hellman, Sharemarket Market Capitalisation 34 Maximising Economic Potential All key elements present for high economic potential at Splinter Rock TREO MagREO Grade MagREO Resource Size Leachability Exceptional clay rare earth grades returned at multiple, large-scale prospects Valuable magnet rare earth elements represent large proportion of TREO grade Extensive clay thickness with extensive continuity and consistency of grade High metallurgical recoveries achieved with low acid consumptions 35 ESG and Corporate ASX I OD6 36 Sustainably Creating Value Acting with integrity to responsibly deliver rare earth resources for a low carbon future Our sustainability priorities: ESG Our aim is to minimize our environmental impact, look after our people, grow with our communities and create value for our investors Workplace health and saftey and mental health Aboriginal engagement, heritage and Traditional Owners Business ethics RISK Regulatory compliance and change Flora and fauna Corporate governance and risk management 37 Using Green Power to Lower Operating Costs Source: https://pacificenergy.com.au/project/esperance-power-station/ Rare Earths are key to decarbonisation Our goal is to build a mine that minimises greenhouse gas emissions and long term power costs Ultimately Net Zero is the goal for what could be a multi-generational production facility Existing Esperance township 2x 4.5Mw Wind Turbines and 4MW Solar Farm 38 Pursuing The Best Of The Best A disciplined approach to maximising value Explore Design Evaluate • Identify high-grade, ‘sweet-spot’ REE zones • Optimise leach recovery and impurity removal • Aggressively grow Mineral Resources via latent scale potential • Remove coarse grain material to reduce acid consumption • Pursue “Best of the Best” grade, recovery, stripping ratio and acid consumption • Target thick areas with low strip ratio potential • Low cost exploration, high value for money • CSIRO collaboration • Produce a MREC with potential conversion to REO • Refine process with ANSTO • Integrate ChlorAlkali Benefits • Renewable energy sourcing – solar / wind • Existing Infrastructure – port, road • Deliver Scoping Study 39 Investment Highlights 1 Dominant land holding near Esperance port 100% interest in a vast tenement package with multiple rare earth mineralised prospects 2 Consumption of rare earth magnets expected to triple by 2035 3 Globally significant new maiden Mineral Resource Estimate declared 4 Strong metallurgical results 5 6 Targeting critical rare earth element materials 344Mt @ 1,308ppm TREO Inferred Resource utilising a 1,000ppm cut off grade Simple Acid Leach process with high recoveries of 60% and low acid consumptions Sustainably creating value Acting with integrity to responsibility deliver rare earth resources for a low carbon future Skilled board and management High calibre geological, metallurgical, project development and corporate professionals 40 Appendix ASX I OD6 Corporate snapshot High calibre leadership team, tight capital structure and well-funded Capital Structure Price per share1 ASX: OD6 A$0.19 Total number of shares on issue2 102.45M Performance rights and options2 32.70M Market capitalisation (undiluted)1 A$19.46M Cash2 A$2.03M Debt2 A$0.00M Enterprise value1 A$17.43M Share Price History A$/share Dr Darren Holden Mr Brett Hazelden Mr Piers Lewis Dr Mitch Loan NON-EXECUTIVE CHAIR MANAGING DIRECTOR NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Register Detail 0.70 0.60 0.50 0.40 0.30 Founders (exc. Directors and Management) 40% 42% 0.20 0.10 0.00 Directors and Management Institutions 5% 13% Retail / Other Jul 22 Sep 22 Nov 22 Jan 23 Mar 23 May 23 Jul 23 Sep 23 Nov 23 1. As at 14 November 2023 2. As at 30 September 2023. Refer to ASX announcement “Quarterly Activities and Cashflow Report” Note: 47,435,249 shares (46%) escrowed until 22 June 2024 42 Insatiable Demand For Rare Earth Magnets A growing MagREO rare earth demand and supply deficit • Transitions from carbon to renewable economy - strong demand for critical MagREO MagREO demand forecast (t) 1,2 Approximately 8.6% CAGR • 8.6% expected compound annual growth rate (CAGR) for MagREO • Value of global MagREO consumption expected to triple by 2035 – rising from US$15.1 billion in 2022 to US$46.2 billion in 2035 2 168,200 116,360 1. MagREO (Magnetic Rare Earth Oxide) = Pr6O11 + Nd2O3 + Tb4O7 + Dy2O3 2. Source Adamas Intelligence, June 2022 3. NdPr = Two of the critical rare earth elements Neodymium (Nd) and Praseodymium (Pr), represent the major value and revenue sources from