the peak of discovery: kipawa - rare earth company peak of discovery: kipawa ... rare earth sources...
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Disclaimer
This document contains “forward-looking information” including without limitation statements relating to mineral reserve estimates, mineral
resource estimates, realization or mineral reserve and resource estimates, capital and operating costs estimates, the timing and amount of
future production, costs of production, success of mining operations, the ranking of the project in terms of cash cost and production, permitting,
economic return estimates, potential upsides, and the future price and supply and demand for rare earths. Readers should not place undue
reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking statements. The preliminary economic assessment study results are estimates only, are preliminary in nature and are based on
a number of assumptions, any of which, if incorrect could materially change the projected outcome. Until a positive feasibility study has been
completed, and even with the completion of a positive feasibility study, there are no assurances that Kipawa will be placed into production.
Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the
funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices; alternative
rare earth sources or substitutes; actual rare earth recovery; conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; accidents, labour disputes and other risks of the mining industry, political instability, terrorism, insurrection or war; delays
in obtaining governmental approvals, necessary permitting or in the completion or development or construction activities.
Although the corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially for
those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated,
estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation and the Corporation disclaims
any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as
required by applicable securities laws.
NI 43-101 Compliance
The technical information pertaining to the Kipawa HREE Project in this presentation is based on the news release entitled “Matamec PEA
Study Shows Robust Economics for the Kipawa HREE Project” published on January 30th, 2012 that describes the results of the Kipawa HREE
Project Preliminary Economic Assessment (“PEA”) study 2012 and the report entitled « NI 43-101 Report – Preliminary Economic Assessment
Study for Kipawa Deposit » published on SEDAR March 14, 2012 which describe the preliminary economic assessment study for the HREE
Kipawa project and was prepared in accordance with Canadian regulatory requirements by, or under the supervision of Guy Saucier, ing. of
Roche Ltd.
2
Table of Contents
Page 4 Company Overview
Page 5 Management Team
Page 7 Market Summary
Page 8 Kipawa HREE Project
Page 9 Resource Update
Page 10 PEA Highlights
Page 11 Low-Cost Extraction Process
Page 12 Market Positioning
Page 13 HREE Company Comparables
Page 14 MoU with Toyota Tsusho Corp.
Page 15 TTC REE Supply Chain
Page 16 Kipawa Project Value Drivers
Page 18 Zeus Property Upside Potential
Page 19 Key Personnel
Page 20 Rare Earth Elements (REEs) Basics
Page 21 Contact Information
3
Company Overview
• Focused on developing the Kipawa deposit, 100% owned property located in Quebec
– One of the top 5 HREE assets outside of China
• Signed an MoU with a high profile end-user, Toyota Tsusho Corp. (“TTC”), as a strategic partner
– TTC will provide an off-take agreement for 100% of production at market prices and CAPEX financing
• Experienced management team and directors
• Fast tracking to production
– Mining lease application and environmental permitting to be filed by Q1 2012
– Hydrometallurgical pilot plants to be completed by Q3 2012
– Feasibility study by Q1 2013
– Environment and permitting by Q2 2014
– First production as early as Q2 2016 (Able to accelerate production by mid 2015 with help of TTC)
4
Strong project economics Before tax NPV8% of $606 million (36.9% IRR)
Robust production profile Average annual production of 5,072 tonnes of mixed TREO concentrate
Low projected cash costs $16.97/kg mixed TREO concentrate
Simple metallurgy
Straightforward mineralogy, ideal deposit geometry, simple processing flow-sheet, most infrastructure
in place
Upside potential Significant upside potential from several by-products and deposit expansion drilling
5
2008 2009 2010 2011 2012 2013 2014 2015 2016
Step 1: Establish
Resource
(79% Indicated-21% Inferred) June 2011 Target:
measured
Step 2: Understand
Mineralogy
(Mineralogy in drill hole for metallurgy) progressing in 2012
Step 3: Scoping Study March 15, 2012
Step 4-6: Pilot Plant
•Beneficiation,
Extraction &
Separation
Optimization of each process of the flow sheet
Mini Pilot Plant (1)
Mini Pilot Plant (2)
Step 7: Environmental
Approval
Baseline Study,
Characterizing the
environmental
sensitivity and
land use
Environmental and
Social Impact Study and
Permitting
Step 8: Letters of
Intent
MoU signed December 7th,
2011
Binding MoU signed March, 12
2012 (1.5$ CAD paid)
JV -
July
Cons-
truction
decision
Q1 2013
Step 9: DFS
& Funding
Q1 2012- Q1 2013
Step10: Engineering,
Procurement, &
Construction
Q1 2016 - Production
10 Steps to Developing The Kipawa Heavy Rare Earth Deposit
*Modified from Dudley Kingsnorth, 2011
Management Team
André Gauthier, BBA
President
Mr. Gauthier is president and director of Mistassini Mineral
Resources Inc., a public mining company. From February 1999 to
September 2003 he was secretary-treasurer and CFO of Prêt à
porter Subito Presto Inc., a company that manufactured medium to
high-end clothing (main client Mexx Canada). From 1994 to 1996
he was Vice-President of the public junior mining company Q.E.X.
Resources Inc. (which became Adventure Gold Inc. in 2007). From
1984 to 1992, he was secretary-treasurer and CFO of Abior
Exploration Inc. (which became Exploration Diabior Inc., now
merged with Virginia Gold Mines Inc.). He has been president and
CEO of Matamec Explorations since 2005.
Marcel Bergeron
Independent Director
Mr. Bergeron, CA and CMA, obtained a Bachelor’s degree in
accounting sciences from the University of Quebec in Montreal. He
has been a member of l’ordre des comptables en management
accrédités du Québec (CMA) since June 1981 and of l’ordre des
comptables agréés du Québec (CA) since December 1983. From
2006 to 2009, he joined Devimco Inc., a commercial real estate
development company, as General Manager. From July 1990 to
June 2006, he was partner of Petrie Raymond l.l.p., chartered
accountants, where he participated in auditing mining companies.
He has been a Director and a member of the Audit Committee of
Strateco Resources Inc. since March 2007. He was also a director
and member of the Audit Committee of Fairstar Explorations Inc.
from 1995 to 2005, and of MDN Inc. from 2007 to 2008.
Bertho Caron, BSc in Mining Engineering
VP, Project Development & Construction
Mr. Caron has more than 20 years of progressive experience in
mining industry development, most specifically in engineering,
construction and start up of process plants along with the
construction of a variety of different facilities required for mining
operations. He is specialized in fast-tracking projects and has a
reputation for respecting timelines and budgets. Mr. Caron
participated in several mine construction and development/
expansion projects in Canada and South America, principally with
Cambior and Agnico Eagle. Former construction manager at
Niobec Mine near Chicoutimi, Quebec for a 40% increase in
production from the Niobium concentrator plant as well as adding
the FerroNiobium converter for the same plant. He was construction
manager for the Goldex Mine in Val d’Or, Quebec and construction
manager for the Meadowbank gold mine located in Nunavut. Until
mid-February 2012, Mr. Caron was the Construction manager
working on the feasibility study for the Meliadine Gold Project
located in Nunavut with Agnico-Eagle.
Aline Leclerc, BSc in Earth Science
VP, Exploration
Ms. Leclerc has had her own geological consulting firm, Gestion
Aline Leclerc, since 1995 and she has provided services to
Matamec Explorations Inc. since 2003. From 1974 to 1995, she
worked for various junior mining companies and governmental
departments as an exploration geologist. She sat on the Board of
Directors of Soquem from 1996 to 2000.
6
Director of Metallurgy
Paul Blatter, BSc in Metallurgical Engineering
Director of Metallurgy
Mr. Paul Blatter joins Matamec to lead the mill process design team during the feasibility study, construction phase, and, subsequently, the mill
commissioning, start-up, and operation. The Company will use his strong ore processing background, his experience in R&D, and his
improvement skills to maximize the value of ore. He will also take on new challenges associated with REE ore valuation. He will work under the
guidance of our VP Project Development and Construction, Mr. Bertho Caron, and in conjunction with our lab metallurgist, Eliza Ngai,
metallurgical consultants, labs and the Toyota Tsusho Corp. network during the present due diligence period. As a strong team player, he will
add his experience to the team, while engaging in new challenges and learning experiences.
Result-oriented, dynamic and hands-on, he has more than 12 years of experience in test work, process design and optimization of several mill
technologies including: grinding, flotation, leaching, solid/liquid separation, pressure leaching and gold recovery units. He has initiated several
successful brownfield mill expansions in the Abitibi region for the recovery of base and precious metals. He led research and development
activities in base and precious metals, with multiple successful technology migrations to existing plants which led to increased metal recovery
and reduced milling costs. Between 1999 and 2012, he was plant metallurgist then metallurgy superintendent at Laronde mill for Agnico-Eagle
Mines, and for a two year period he was assistant mill superintendent at Lapa mill (2007-2009).
He is president of north-western Quebec regional CMP branch (CIM) and he is active member of local CIM branch and national CMP
conference. Mr. Blatter is also a member of l'Ordre des Ingenieurs du Quebec.
7
Market Summary (TSXV:MAT)
8
Shareholder Base Research Coverage
Institutional ownership 30% Byron Capital Markets Dr. Jon Hykawy
Insider ownership 2% Cormark Securities Edward Otto
Pinetree Capital, Mineralfields ~20% Jacob Securities Luisa Moreno
Source: Capital IQ, Bloomberg and company.
Data as of April 18, 2012.
COMPANY STATISTICS
Current share price $0.28
52 week range $0.20 to $0.70
Basic shares 120 million
Fully diluted shares 138 million
Market capitalization $33 million
Entreprise value $29 million
Cash & cash equivalents $4 million
CAPITAL STRUCTURE
Issue and outstanding 120 million
Warrants 11 million
Weighted average exercise price $0.41
Options 7 million
Weighted average exercise price $0.221 Weighted average exercise price 0.0
1.0
2.0
3.0
4.0
5.0
6.0
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Volu
me (
MM
)
Price (
$C
AD
per
share
)
Kipawa HREE Project
• Located in the Témiscamingue region of Quebec, some 160 km south of Rouyn-Noranda and 50 km east of the town of Témiscaming
• Kipawa Alkaline Intrusive Complex of peralkaline syenite and granite is less than 200 m thick
• Rare earth-yttrium-zirconium mineralization at the Kipawa deposit is contained in medium grained silicate minerals
• Grains are distinct and generally well crystallized
• Proportion of REEs: 70% eudialyte, 20% mosandrite, 10% britholite
• Accessed by a nearby network of logging roads, railway, electric grid and airport
• Use of Hydro-Quebec’s power grid at the mine site instead of diesel power
• High capacity of rail freight service by CN-CP-OVR-ON
9
1.8M CAD
budget for gold
property
exploration in
2012
Resource Update
• Indicated resources represent 79.8% of the total resource
• Mineral concentrate grade of 1.11% TREO; overall REE recovery of 81%
• Heavy rare earth oxides and yttrium combine for an average of 36% TREOs totaling 22,940 tonnes of indicated and 6,300 tonnes of
inferred HREO + Y2O3
• Open pit design at Kipawa HREE Project mine site
Cut-off Grade Category Tonnage Grade (%) Tonnes
ZrO2 Y2O3 HREO1
TREO2
(H+Y)3/TREO
HREO Dy2O3 Y2O3 Tb2O3 Eu2O3 Nd2O3
0.2% TREO Indicated 17,645,000 0.909 0.097 0.060 0.435 36% 1,58,700 2,823 17,116 423 300 10,234
Inferred 6,805,000 0.866 0.080 0.051 0.371 35% 347,055 885 5,444 136 95 3,403
0.3% TREO Indicated 12,472,000 0.913 0.114 0.070 0.512 36% 873,040 2,245 14,218 349 249 8,481
Inferred 3,842,000 0.912 0.101 0.063 0.463 35% 242,046 653 3,880 100 69 2,420
1 Sum of all heavy rare earths in oxides (terbium to lutetium)
2 Sum of all rare earths in oxides plus yttrium in oxide; TREO = LREO + HREO + Y2O3
3 HREO plus Y2O3
10
In-Pit Mineral Resources* Tonnes Grade (%)
Indicated (79.8% of the deposit) 15,161,000 0.434
Inferred (20.2% of the deposit) 3,843,000 0.403
Total 19,004,000 0.428
PEA Highlights (January 30, 2012)
• Strong project economics (before tax)
– NPV8% of $606 million at IRR 36.9%
– Pay back period in 2.4 years
– Expected revenue of $2.8 billion; EBITDA of $1.67 billion
– CAPEX of $315.8 million (includes contingency of $63.2 million)
– OPEX of $ 89.2 million per year (~$17/kg mixed TREO concentrate)
– Open pit strip ratio ~1.42:1 (waste:ore) with a mine life of 12.9 years
– Conservative price deck for REEs
• Robust project
– Straightforward mineralogy, ideal deposit geometry, simple processing flow-sheet
– 79.8% of resources in the indicated category
– Mineral concentrate grade of 1.11% TREO
– Overall REE recovery of 81%
– Average annual production of 5,072 tonnes of mixed TREO concentrate
• Simple flow chart
– 1) initial crushing, grinding and magnetic separation; pre-concentration plant located at the Kipawa mine site
– 2) hydrometallurgical facility located near the town of Témiscaming
• Simple grinding, followed by a 2-hour, room temperature leach in an acid mixture (predominantly sulphuric acid), using 150
kg of acid per tonne of physical concentrate
11
Ce 0.02
La 0.02
Nd 0.16
Pr 0.05
Sm 0.00
Eu 0.03
Gd 0.01
Tb 0.14
Dy 0.44
Ho 0.01
Er 0.02
Tm 0.00 Yb
0.00
Lu 0.02
Y 0.07
Revenue
Ce 0.291
La 0.148
Nd 0.132
Pr 0.038
Sm 0.030
Eu 0.004
Gd 0.030
Tb 0.006
Dy 0.036
Ho 0.008
Er 0.025
Tm 0.004
Yb 0.023
Lu 0.003 Y
0.223
Production
12
Base Case
(million CAD)
Total At-mine
Revenue 2,822.1
Pre-production
Capital
Expenditures 315.8
Sustaining Capital
Expenditures 38.3
Initial Working
Capital
Requirement
9.9
Mine Reclamation
Costs 7.5
Total Operating
Cost 1,142.5
Total Before-tax
Cash Flow 1,679.6
Before-tax NPV @
8% 606
Before-tax NPV @
5% 811
Before-tax NPV @
10% 500
Before-tax IRR (%) 36.9
Before-tax Payback
Period (years) 2.4
5 Critical
Elements
(DOE)
Financial Analysis
Low-Cost Extraction Process
To be located on site
13
Ore from Open Pit
Grade 0.42%
Crushing
Grinding
Physical Concentration
Mineral Concentrate
Grade 1.1%
90% Recovery
To be located in Témiscaming (50 km from site)
Mineral Concentrate
Grade 1.1%
Regrind
Leaching
Solid/Liquid Separation
Liquor – 88% Recovery
Purification/Precipitation
Mixed TREO Concentrate
Heat: Room Temp.
Acid: 150 kg/t
Time: 2 hours
+ Water
Solid Tailings
Stabilization
Mixed TREO Concentrate
Rare Earth Separation
Individual REE Oxide
79% of TREO Recovered in
Steps 1 & 2 (to the Liquor)
STEP 1 STEP 2 STEP 3
To be negotiated in the future
Market Positioning
14
Source: Technology Metals Research LLC and company filings.
Early Strategic Advantage Preliminary Agreements
Vertically Integrated
Binding Partnerships
Ad
van
ced
T
imin
g
Earl
y S
tag
e
Tim
ing
/ M
eta
llu
rgy
Lo
w
RIS
K
Hig
h
Partnerships/Financing
Low RISK High
Low risk HREE public company in the rare earth sector Rare Element (L)
Bear Lodge
Avalon (H)
Nechalacho (Thor Lake)
Arafura (L)
Nolans
Greenland Minerals (H)
Kvanefjeld
Frontier (L) - MOU
Zandkopsdrift
Quest (H)
Strange Lake
Matamec (H) –
Binding MOU
Kipawa
Tantalus (H)
TRE
Tasman (H)
Norra Karr
IAMGOLD (L)
Niobec
Great Western (L)
Steekampskraal
MBAC (L)
Araxa
Pacific Wildcat (L)
Mrimra Hill
HREE Company Comparables
15
Deposit
Type
Company
(Project)
Mine
Type*
REE-Bearing
Mineralogy
TREO
In-situ
Grade
(%)
HREO/
TREO
(%)
OPEX/kg
TREO
($)
Required
CAPEX
($ MM)
Pre-Tax NPV
($ MM)
IRR
(%)
Engaged a Full
CAPEX
Financing
Partner
LR
EE
Frontier Rare Earth
(Zankopsdrift)
OP Monazite 3.2% 7.8% $13.1 910 $4,340
at 11% (PEA)
57.6% KORES
Great Western Minerals
(Steenkampskraal)
UG Monazite 17% 7.8% N/A N/A N/A N/A
Rare Element Resources
(Bear Lodge)
OP Synchysite, parasite 3.75% 3.3% $4.6 446 $1,300
at 10% (PFS)
44.9%
Avalon Rare Metals
(Nechalacho)
UG Bastnaesite,
synchysite, allanite,
monazite & zircon
1.35% 15.5% $5.5 1,200 $1,770
at 10% (PFS)
39.0%
HR
EE
Matamec Explorations
(Kipawa)
OP Eudialyte, mosandrite
& britholite
0.42% 36.9% $16.9 315 $606
at 8% (PEA)
36.9% Toyota
Quest Rare Minerals
(Strange Lake)
OP Gadolinite and other
Granitic/pegmatitic
Minerals
1.3% 43.2% $16.0 560 $1,826
at 10% (PEA)
36.4%
Ucore Rare Metals
(Bokan Mountain)
UG Iimorite,thalenite,
bastnaesite,
Xenotime and
monazite
0.75% 39% N/A N/A N/A N/A
Source: Technology Metals Research LLC and company filings.
* OP = Open-pit; UG = Underground
Binding MoU with Toyota Tsusho Corp. (March 12, 2012)
• Signed a MoU with Toyota Tsusho Corp. (“TTC”), a trading company of Toyota Motor Group, in order to secure a HREE supply for the
production and marketing of hybrid and electric vehicles (December 7, 2012)
– Mutual collaboration to accelerate the development of the Kipawa Deposit
– Technical assistance will be provided in association with TTC’s chain of suppliers
• MoU is divided into three stages with a final decision at the end of the first two stages
• Expected definitive joint venture between TTC and Matamec (TTC: 49%/ Matamec: 51%) will only apply to the Kipawa deposit. The
joint venture with TTC with result in:
– Financed feasibility study
– CAPEX financing arranged by TTC through to production
– Technical expertise from TTC supply chain (huge intangible value in terms of cost and time)
– Accelerated development program (enables “first to market” with HREE)
– An off-take partner to purchase 100% of a mixed rare earths oxide concentrate at market prices
16
Stage 1) Due diligence period which may extend to the end of March 2012
• Evaluation of PEA/ preparing joint venture and off-take agreements
Stage 2) TTC has decided to pursue further, TTC has reimbursed Matamec $1.5 million for its historical metallurgical expenditures
(March 12, 2012) . MoU is now binding .
• Negotiate/receive internal approval for the joint venture, off-take agreement and other agreements
Stage 3) A definitive joint venture agreement would then be established for the Kipawa Deposit between TTC (49%) and Matamec
(51%) with an off-take agreement (June 27, 2012)
• Contribution from TTC based on up to 49% of Matamec’s market capitalization for the 90-day period ending on
November 30, 2011 (~CAD$17.23 million)
• Off-take agreement for 100% of the mixed rare earths concentrate to be sold at a price equal to 70% of the fair market
value of the processed form of such elements
Source: Capital IQ.
TTC REE Supply Chain Including Kipawa
17
Mixture Oxide Alloy Magnet Catalyst Ore Product Metal Scrap
Indian
Rare
Earths
India SX Plants PJ
Kipawa Deposit Separation
Plant
Dong Pao Mine Exploration PJ
(Vietnam)
Magnet Manufacturer
Rare Earth Compound
Manufacturer
Catalyst
Corp.
Vietnam
Electrolys
is PJ
Japanese EV
Alloy
Manufacturer
Magnet
Manufacturer
Toyota
Exhaust Gas
Catalyst
Motor
Battery
Motor
Manufacturer
Collection/
Processing
Partner
Process Flow TTC Client
Partners
Vertically Integrated from the Mine to the Car
Kipawa Project Value Drivers
Strong project economics
– Before-tax NPV8% of $606 million (36.9% IRR)
– EBITDA OF $1.67 billion
– Payback in 2.4 years
– Expected full CAPEX financing via Toyota
– Expected full product off-take sold at market prices to
Toyota
Simple mineralogy
– Rich in the heavy rare earths (HREEs); 3.70%
dysprosium oxide levels
– Flat-lying ore body that extends to surface; open pittable
with a low strip ratio
– Simple/low cost process for extracting the total rare
earths as an oxide (TREO)
– Relatively inexpensive to develop, required CAPEX of
only $315 million
– Operational expenses remain relatively low at $16.97/kg
mixed TREO concentrate
Defined resource with substantial upside
– Located in a mining friendly jurisdiction – Quebec;
situated near developed infrastructure
– 79.8% of resources in the indicated category
– Mineral concentrate grade of 1.11% TREO; with
HREO/TREO 36.9% in ore
– Overall REE recovery of 81%
Permitting
– The mining lease permitting will start before the end of
March 2012
– The project notice to begin the environmental permitting
before end of Q1 2012
– Begin restoration study and environmental impact study
on March 2012 and continue over a 1 to 2 year period
Environmental studies
– Envireo Conseil Inc., an independent firm from Rouyn-
Noranda, completed a baseline study in 2010
– The results of this study clearly show that the land and
water are not polluted by REE, yttrium, zirconium,
uranium, and thorium
18
Kipawa Project Value Drivers (Continued)
Social and community impact
– Local people have been part of the Matamec team from the start
– Several public meetings and site visits were organized by Matamec and a roundtable was put in place by a group of key people to guide and inform
Matamec about the concerns of the communities
– Three committees were formed to address education possibilities, economic benefits including job creation, and environmental concerns
Aggressive plan to production
– Hydrometallurgical pilot plants to be completed by Q2 2012
– Feasibility study by Q1 2013
– Environment and permitting by Q2 2014
– First production as early as Q2 2016
Engaged with a strategic partner, Toyota Tsusho Corp.
– Signed MoU with Toyota Tsusho significantly de-risks the project, expected to become a major off-take partner and full CAPEX financier through to
production
19
•Required CAPEX to be arranged by Toyota, no equity raise CAPEX Financing CAPEX Financing
•Captured from Toyota’s supply chain Technical Expertise Technical Expertise
•Off-take agreement to purchase 100% of a mixed rare earths oxide concentrate at market prices Off-take Partner Off-take Partner
Upside - includes by-products from Kipawa Deposit and new discoveries on the Zeus property (e.g. Certitude and Surprise showings).
Zeus (HREE-Y-Zr) Property Upside Potential
20
TTC may negotiate in good faith to participate in
the exploration and development of all other
REE prospects found on the Zeus Property
Showing potential outside of Kipawa
• Surprise REE-Nb-Ta (16 samples)
– Average of 3.2% TREO at 27%
HREO+Y2O3
• Certitude REE-Y-Nv-Ta (13 samples)
– 5.2% TREO at 36% HREO+Y2O3
Spring 2012
• Follow-up ground exploration to define
potential drill targets in the area
– Ground traverses, mechanical
trenching, line cutting, ground
geophysics and geochemical surveys
TTC
Rare Earth Elements (REEs) Basics
• REEs are a unique group of chemical elements that are used in a wide variety of end-use markets
– Critical components in some of our latest and greatest high-technology and green inventions
– Uses: magnets, phosphors, metal alloys, catalysts, ceramics, polishes, glass
• 15 elements of the lanthanoid group with yittrium and scandium often included
– Further grouped into so-called light REEs and heavy REEs, separated based on the specific configurations of
electrons within each REE atom
22
Source: Byron Capital Markets and Technology Metals Research LLC.
• Five critical elements are identified by the US Department
of Energy in 2010 to 2011, which are essential for four
clean energy technologies
– Dysprosium (Dy)
– Yttrium (Y)
– Terbium (Tb)
– Europium (Eu)
– Neodymium (Nd)
23
1010 Sherbrooke Ouest, Suite 700
Montreal, Québec
Canada H3A 2R7
Tel (514) 844 5252
Fax (514) 844 0550
Email [email protected]
Website www.matamec.com