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Shareholder and Investor Briefing
SQM Earn-in Joint Venture Agreement
James Chirnside - Managing Director
Dr. Ben Hines - Head of Exploration
11:30, 28 July 2022
Virtual Meeting via Zoom
ASX:DTM
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Forward Looking Statements Caution
Certain statements contained in this document may constitute forward looking statements. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements.
Investors are cautioned that forward looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.
ASX:DTM
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Corporate Directory
Corporate Metrics
- ASX Code - DTM
- Shares on Issue ~ 135.3m
- Options on Issue ~ 36.0m
- (26.5m expiring 30 Sep 2022, $0.30 Strike)
- Performance Rights ~3.4m
- Market Capitalisation @ $0.08 = ~A$11.0m
Board
- James Chirnside - Chairman & Managing Director
- Richard Udovenya- Independent Director
- Carl Swensson - Non-executive Director
- Julie Edwards - Company Secretary
Management
- Dr. Ben Hines - Head of Exploration
- Scott Trutwein- Project Geologist
- Michael Roberts - Finance & Administration
Service Providers
- Accounting, Co. Sec, ASX Reporting, Tax - Lowell Accounting Services
- Audit - Morrows
- Legal Advisors - Resources Law International
- Environment & Cultural Heritage - Biosis
- Lab Services - ALS Limited
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Sociedad Química y Minera de Chile S.A. - SQM
SQM Profile
- Largest Lithium producer and refiner in the world
- 50/50 Joint Venture with Wesfarmers in the Mt Holland Lithium Project (Earl Grey mine and Kwinana refinery)
- Established 1968
- Headquartered Santiago, Chile
- NYSE Code - NYSE:SQM
- US$ 27bln Market Capitalisation
- Revenues of US$2.86bln
- Customers in 110 countries
- Chilean chemical company producing industrial and agricultural chemicals
- Employs ~6,000 people worldwide throughout 20 international offices
Carlos Díaz SQM Executive VP for Lithium said:
"We are looking forward to this new endeavour with Dart to find and potentially develop the first lithium project in Victoria. We believe
that the combination of both partners' strengths and expertise will factor in the success of this partnership".
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Key Terms of the Earn-in Joint Venture Agreement
Key Terms
- Dart has granted the right but not the obligation to sole fund exploration expenditure totaling A$12m over six years
- Phase 1 Earn-in 30% $3m, Phase 2 Earn-in 21% $3m, Phase 3 Earn-in 19% $6m - Totaling 70% and $12m
- Beyond 70% each party will fund its own proportional expenditure
- SQM may elect to enter into a joint venture agreement (JVA) at any time after earning 30%
- Dart has been appointed the manager of the project
- Mineral rights extend to Lithium and associate minerals
- Dart to be paid $300,000 after the renewal of EL5315 (renewal application lodged)
- Mutual Right of First Refusal (ROFR) if either party wishes to sell its interest in the project
- Technical advisory committee (TAC) has been established (DTM x 2, SQM x 2) and planning has started
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Dart Mining NL published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 01:13:03 UTC.
