PMET Resources (OTCPK:PMET.F) Update / Briefing Transcript

Summary of PMET Resources Inc. Investor Teleconference - October 20, 2025 Company Overview - Company: PMET Resources Inc. - Project: Shakwakawanan Project, Quebec, Canada - Focus: Lithium and co-products (caesium and tantalum) Key Points and Arguments Feasibility Study Results - The feasibility study for the Shakwakawanan Project is a significant milestone, showcasing the project's potential in the lithium raw materials development pipeline in North America [1][3] - The project has a maiden reserve of over 84 million tons, supporting approximately 20 years of mine life [6] - The expected production capacity is 800,000 tons per annum of spodumene concentrate, positioning it among the top five largest hard rock lithium mines globally [9] Geological and Resource Highlights - The geology at Shakwakawanan is described as exceptional, containing lithium, caesium, and tantalum, with high-grade subsets [5][10] - The project is expected to generate additional co-products, enhancing its economic viability [10][11] Market Conditions and Demand - The demand for lithium is projected to increase significantly, driven by the growth of electric vehicles (EVs) and energy storage solutions [29][30] - The cost of lithium-ion battery cells has decreased to around $50-$60 per kilowatt-hour, expanding the addressable market for lithium [29] Capital Expenditure and Financials - The net capital expenditure (CapEx) for the project is estimated at approximately C$1.5 billion [15] - There has been a 30% increase in CapEx due to factors such as enhanced power supply, mining equipment purchases, and inflationary pressures [16] - The all-in sustaining costs for lithium operations are projected to be below $600 per ton, making it competitive globally [12] Development Strategy and Next Steps - The project will proceed with a staged operation, starting at 400,000 tons per annum and ramping up to 800,000 tons per annum [12] - The company is focused on optimizing the project and securing final mine authorizations through the COMEX/COMEV process [14][26] - A bulk sampling program is planned, targeting up to 50,000 tons of ore to further de-risk the operation [36] Partnerships and Industry Engagement - PMET has established a partnership with Volkswagen AG and its subsidiary PowerCo, which serves as a key offtake partner [7][49] - The company is actively engaging with industry participants to secure additional partnerships and diversify the supply chain [48][49] Community Relations and Employment - PMET aims to employ approximately 20% of the local Cree community in the project, with 33% of spending directed towards Cree businesses [28] Future Outlook - The project is expected to commence commissioning in the second half of 2029 and achieve commercial production in the first half of 2030 [26] - The company anticipates further growth in demand for lithium and its co-products, positioning the Shakwakawanan Project as a critical player in the North American lithium supply chain [31][60] Additional Important Insights - The project is seen as a response to the growing need for critical minerals in the Western world, with increased governmental focus on supporting such initiatives [60] - The potential for additional co-products like caesium and tantalum is being explored, with ongoing test work to optimize recovery processes [23][65] This summary encapsulates the essential information from the teleconference, highlighting PMET Resources Inc.'s strategic direction, project viability, and market positioning within the lithium industry.