16 November 2016 Company Announcements Office Australian Securities Exchange Limited Electronic Lodgement system Company Presentation - Low Emission and technology Minerals Conference Plymouth Minerals Limited ( Company ) is pleased to attach a copy of the presentation given at the Low Emission and technology Minerals Conference in Perth 15-16 November 2011. This presentation focuses on the Companies highly advanced lithium assets in Spain. The Company also holds 100% interest in two large, high quality potash Projects in Gabon. Further details regarding exploration and development in Gabon will be provided shortly to the market. Yours faithfully Adrian Byass
European Lithium Supply for the European Market Low Emission and Technology Minerals Conference November 2016
Disclaimer For Consideration This presentation has been prepared by Plymouth Minerals Ltd Plymouth. This document contains background information about Plymouth current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sales of shares in any jurisdiction. This presentation does not constitute investment advice and has been prepared without taking into account the recipient s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Plymouth, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise are accepted. This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Plymouth. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, Plymouth does not undertaken any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward looking statement is based. Competent Persons Statement Competent Person Statement: The information in this report related to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr A Byass, B.Sc Hons (Geol), B.Econ, FSEG, MAIG an employee of Plymouth Minerals Limited. Mr Byass has sufficient experience 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 in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. Mr Byass consents to the inclusion in the report of the matters based on this information in the form and context in which it appear. The Foreign Resource estimation provided is historical in nature and not reported in accordance with the JORC 2012 Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources or ore reserves in accordance with the JORC 2012 Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code. Refer to ASX announcement 15 July 2016. Plymouth Minerals Limited ASX: PLH 2
Introduction to Plymouth Minerals Limited (ASX: PLH), Lithium High Value Lithium Project, Experienced People, Spanish Partner, Well-funded, Near Term Production Plymouth Minerals Limited ASX: PLH 3
The Plymouth Lithium Opportunity European lithium demand has no internal suppliers! Our High Value Lithium Project is located in the mining friendly part of Spain Our lithium project is advanced and will benefit from near term production We are partnered with Sacyr a large IBEX 35 Listed, +$Billion Company Well funded with A$8.5m cash at bank and low Enterprise Value of A$16m 10 years of mine permit, exploration, offtake, development in Europe and our team won the European Mining and Metals Deal of the Year (2013) Plymouth will be a key lithium producer for European markets Plymouth Minerals Limited ASX: PLH 4
Lithium Asset in Spain Very Valuable! PLYMOUTH MINERALS IS EXPOSED TO TWO COMPANY MAKING ASSETS Lithium in Spain, Europe Earning 75% for ~A$6 million with security of having up to 4 years to do so (plan to accelerate) Historical mining area Extensive historical work produced positive feasibility study to directly produce lithium carbonate end product Near term production potential Broad zones of high grade from shallow depths Amenable to open pit optimisation First class partner and infrastructure Potash in Gabon, Africa Drill proven Pre-JORC potash assets with good grade Shallow depth Close to port and market Plymouth Minerals Limited ASX: PLH 5
Volume (shares traded per day) PLH Share Price Corporate Overview Capital Structure ASX code PLH Share price 17.5c Shares on issue Options on issue (exercisable between 14-35c by Q2 2018) Performance shares on resource and PFS hurdles for potash Market capitalisation EV Cash balance Debt (*) 4M @ 35c strike pending approval at 2016 AGM 139 million 16.5 million * 25 million (JORC resource and PFS) $24.4 million $16 million $8.5 million Nil Major Shareholders Top 20 (~58%) Board & Management (11%) Institutional (8%) 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 $0.35 $0.30 $0.25 $0.20 $0.15 $0.10 $0.05 $0.00 Plymouth Minerals Limited ASX: PLH 6
Years of European Resources Experience Board Adrian Byass Overview Geologist, industry-experienced Board member, debt & equity raising success, mine development specialist Plymouth team 10 years of mine permit, exploration, offtake, development in Europe in multiple companies Eric Lilford Humphrey Hale Christian Cordier David Valls John Sanders Mining Engineer, African operational experience, banking and mining professional +25 years Geologist, metals and minerals mining expertise, extensive European mine experience, MD (WLF) 7 years Accountant, African resources sector investment expert, board experienced European/African resources experience, country manager Resources expert, notably potash (ex-md, ELM, now K2P) European Mining and Metals Deal of the Year (2013) Large (+$200 million) project financing Syndicated bank debt facilities Government subordinated bank debt facilities AIM listings Project permitting and planning permissions Offtake agreements (European consumers) Commercial, acquisition, drilling and government liaison strengths with high calibre in-country staff Spain since 2013 Plymouth Minerals Limited ASX: PLH 7
Lithium The Opportunity European demand has no internal suppliers! Plymouth Minerals Limited ASX: PLH 8
Lithium the opportunity Lithium market in 2016 4% 1% 14% 5% 9% 32% 35% Batteries Ceramics and glass lubricating greases Air treatment Polymer Aluminium Other Currently battery technology accounts for 35% of lithium usage, up from 20% 10 years ago The bulk of future demand increase is driven by rechargeable battery requirements Lithium-ion batteries are the global standard with massive investment by manufacturers and users ensuring dominance and demand into the future Near term production will be rewarded Source: 911metallurgist.com Source: Industrial Metals www.indmin.com Plymouth Minerals Limited ASX: PLH 9
Lithium the opportunity Lithium market in 2016 4% 1% 14% 5% 9% 32% 35% Batteries Ceramics and glass lubricating greases Air treatment Polymer Aluminium Other Currently battery technology accounts for 35% of lithium usage, up from 20% 10 years ago The bulk of future demand increase is driven by rechargeable battery requirements Lithium-ion batteries are the global standard with massive investment by manufacturers and users ensuring dominance and demand into the future Near term production will be rewarded Equivalent impact of 15ktpa LCE production San Jose The market will absorb this and more Source: 911metallurgist.com Source: Industrial Metals www.indmin.com Plymouth Minerals Limited ASX: PLH 10
Rechargeable batteries - 3 Phases 1 st wave On-going Already existing and developing: The compact and efficient rechargeable lithium-ion batteries for smartphones and tablets. 2 nd wave Building momentum The growing market of plug-in electric vehicles, EVs, as alternative cars. 3 rd wave R & D before commercialisation The high-capacity storage battery units with large scale energy storage will revolutionise electricity grids. 11
Phase 2 EVs, Phase 3 Energy Storage Electric Vehicles (EVs) The registration of EVs has multiplied by up to four times in the last three years The development of hybrids and full electric cars in Europe is the target European countries and industry are taking lithium ion batteries as the global standard for the next car generation For Example - More than 230 cities banned polluting cars in their centres Bonus up to 10,000 for the purchase of an electric or hybrid car. Always thinking about potential consumers and partners Bonus up to 4,000 for the purchase of an electric or hybrid car. Household and grid storage In less than 10 years, 97% of storage batteries will be lithium batteries, representing 6% of the global battery market There are 25 notable battery applications within the storage sector New projects for households, companies Store during the day, use during the night The challenge is to increase existing storage capacities and increase efficiencies. EU Directorate-General of Energy, 2016 12
Lithium World Overview Status a handful of converters control 80% of the world s LCE production. Feedstock production is dominated by 2 regions Source: Deutsche Bank, United States Geological Society, company data 13
Lithium World Overview Consider the importance of supply certainty European demand has no effective internal suppliers yet, it has historical producers Source: Deutsche Bank, United States Geological Society, company data 14
Phase 2 Strong government and public impetus over use and development of lithium battery energy storage by industry leaders. Security of supply and tailormade product specs is important. Lithium consumption in Europe BMW GmbH in activity + 2020 Samsung in activity A123 System 2016 Daimler 2017 LG Chem 2017 Samsung 2018 The Made in Europe Story Plymouth San Jose Project 15
Phase 2 Europe is well placed to become a significant LCE producer thanks to past mining and known resources Development Projects 1. European Lithium PFS entering DFS 2. European Metals PFS 3. International Lithium Exploration 4. Rio Tinto Scoping 5. Keliber PFS 6. SMP Production -glass and ceramics 7. Plymouth Minerals PFS 8. Dakota Exploration Plymouth San Jose Project 16
Plymouth Minerals Lithium Operation in Spain Plymouth Minerals Limited ASX: PLH 17
Mining Regulation in Spain Spanish tenure type Australian equivalent Period (min-max) Maximum size (km 2 ) Comment Exploration Permit nil 1-2 years 300 No active surface works mapping, remote sensing etc. Investigation Permit* Exploitation Concession Exploration Licence *San Jose Granted Investigation Permit Permit key aspects 3-9 years 90 Can allow drilling and bulk sampling Mining Licence 30-90 years 30 Mining and treatment 1) Regulated by the Mining Act 2) No Federal involvement in permit (exploration and exploitation) in decision making for San Jose. 3) San Jose project is under the supervision of the Extremadura Mining Department. 4) Land Ownership regulated by the Mining Act with provision for state acquisition to accelerate development. Clear Court procedure for land acquisition if required. Plymouth Minerals Limited ASX: PLH 18
San Jose Joint Venture Stage Milestone Ownership Plymouth at its election can acquire 50% of San Jose through Stage 1 (prior to December 2017) Complete and submit initial economic appraisal (ASX Scoping Study equivalent) and expend 1.5 million (A$2.2 million) in exploration 50% Plymouth Plymouth at its election can acquire a further 25% and increase to 75% of San Jose through Stage 2 (within 3 years of completion of Stage 1) Complete Feasibility Study and expend a minimum of 2.5 million (A$3.7 million) in exploration (total 4.0 million to reach 75%) 75% Plymouth 25% tax rate Zero royalties Image (left) shows the San Jose historical processing plant buildings. This dated to underground tin mining operations (ceased). This process facility and portion of the hill in background showing prior mine disturbance are located within proposed optimised open pit as reported in historical Feasibility Studies Plymouth Minerals Limited ASX: PLH 19
Sacyr - Top tier partners Construction and water treatment IBEX 35, +$Billion market capitalisation Major international construction and water treatment operations Mining 100% $200 million facility with Macquarie Bank for project development Valoriza Mineria wholly owned by SACYR Formed in 2014 2015 - $200M Line of Credit with Macquarie Expanding into mining in their backyard with strategic partnerships Valoriza Mineria Senior Management team Joint Venture with Lundin Mining (Cu) Joint Venture with Plymouth Minerals Limited (Li) Plymouth Minerals Limited ASX: PLH 20
San Jose Lithium Deposit Lithium - Earning 75% of a lithium deposit in Spain Highly advanced, near-term start potential 2019 potential start 1985-91 positive historical feasibility study, +$10M expended already Process flow sheet solution to saleable lithium carbonate (LCE) Spain - excellent infrastructure no royalty and 25% tax rate Outcomes of study High confidence foreign resource - 8.4km drilling High-grade zones, +1.1Mt LCE foreign resource Process flow sheet Low risk, low cost, bulk mine open-pit likely Open at depth and to north In expanding (European) markets Plymouth Minerals Limited ASX: PLH 21
Caceres Resource Area San Jose Plymouth earning 75% Original tenure Additional tenure 1km All tenure has been applied for and is included in the JV agreement between Sacyr (VM) and Plymouth 22 Plymouth Minerals Limited ASX: PLH 22
Foreign Resources and Mining Study Historic Feasibility Study: Highly advanced feasibility work 1985-1991 conducted; 1.1Mt LCE contained 1% Li2O High confidence foreign resource - 8.4km drilling High-grade zones, +1.1Mt LCE LCE (battery grade) ~US$7-10,000/t Bulk sample for met test work process flow sheet Low risk, low cost, bulk mine deposit open-pit likely Open at depth and to north In expanding (European) markets The 1993 summary of the Feasibility Study report stated Sufficient tests have been carried out to be certain of the process in general, the recoveries of the metal and sulphuric acid and the commercial quality of the products obtained. (Banco Exterior de Espana, BEX, 1993) Drill pattern and cross section location Cross section mineralisation from surface Cross section and old infrastructure San Jose Plymouth Minerals Limited ASX: PLH 23
Enterprise Value (A$m) Peer Comparison $140.00 $120.00 $100.00 $80.00 EV (A$m) of ASX Lithium Players $77.37 $120.04 $60.00 $40.00 $20.00 $0.00 $39.64 $17.68 $27.44 $9.55 $3.66 European Lithium Dakota Minerals Plymouth Core exploration Lithium Australia European Metal Neometals Resource identified Metallurgical testing? Flow sheet? Feasibility study? Saleable Lithium Product? Source ASX as at 7/11/16 Plymouth Minerals Limited ASX: PLH 24
Market Capitalisation (A$m) Peer Comparison PLH market capitalisation $24M and EV $16M with lithium and potash. Market capitalisation and EV halved ($8M) to show lithium-only valuation $90 $80 $70 $60 $50 $40 $30 $20 $10 Plymouth ASX.PLH Lithium only Enterprise Value Plymouth Full Valuation (lithium and potash) Pilbara, ASX.PLS (m/cap $583M) $- European Lithium Plymouth (Lithium) Dakota Minerals Plymouth Lithium Power International Prospect Resources Lithium Australia Global Geoscience European Metal Pilbara Minerals ASX Listed Companies Source ASX as at 7/11/16 Plymouth Minerals Limited ASX: PLH 25
Why is this such a good project? Clear Pathway 100% JV ownership, supportive government, top tier partner, Plymouth earning 75% sole election Tonnes in ground +1Mt LCE and open - high value foreign resource Simple Mining Method - open pit, outcrops at surface, bulk mining Process historical pathway, confirmation work underway Market existent and growing, political support to assist High volume of work commenced Plymouth Minerals Limited ASX: PLH 26
Lithium News-flow Environmental baseline (commenced 12 months) Process flow sheet (commenced regular output) Drill for JORC (Q4 2016, carry into 2017) Initial Resource (Q1 2017) PFS (Q3 2017) Earn Stage 1 initial 50% (Q3 2017) Start DFS Stage 2 (Q4 2017) Consistent and value adding newsflow Plymouth Minerals Limited ASX: PLH 27
Thank you INVESTORS: Adrian Byass Executive Chairman P: +61 410 305 685 E: abyass@plymouthminerals.com Plymouth Minerals Limited T: +61 8 6461 6350 (AUS) A: Level 1, 329 Hay Street, Subiaco, WA Australia, 6008 W: www.plymouthminerals.com