Millennial Lithium

Primary ticker: TSXV:ML
Stage of development: Development
Primary minerals: Lithium
Project to promote: Pastos Grandes

Live financials

Millennial is focused on the development of its flagship lithium brine project, Pastos Grandes, situated in the province of Salta in the Lithium Triangle of Argentina. Lithium producers in the Triangle include SQM, Albemarle, Livent Corp. and Orocobre.
Millennial has outlined Measured and Indicated Mineral Resources of 2.1M tonnes Lithium Carbonate Equivalent (LCE) and Inferred Mineral Resources of 0.9M tonnes LCE. A recent Preliminary Economic Assessment indicates potentially robust economics for a 25,000 tonne/year LCE operation with a CAPEX of $410M, OPEX of $3,218/t LCE, NPV(8) of $824M and IRR of 23.4%. A Feasibility Study on the project is in progress.

Management Profile

Farhad Abasov – President and CEO / Director

Mr. Abasov has over 20 years of experience founding and managing natural resource companies. Most recently Mr. Abasov served as President & CEO of Allana Potash Corp., a potash development company which was sold to Israel Chemical Ltd. for $170M in 2015. Mr. Abasov was also the Executive Chairman of Rodinia Lithium, a company developing lithium brine assets in Argentina. Previous to Allana Mr. Abasov was a co-founder of Potash One which was acquired by German potash company K+S for $430M in 2010. Prior to Potash One Mr. Abasov was a Senior Vice President, Strategy at Energy Metals which was acquired by Uranium One for $1.8B in 2007. Mr. Abasov brings a unique skill set of leadership and proven ability to build strong shareholder value by successfully developing early stage assets.

What is your rationale for attending 121 Mining Investment?

We are looking to meet investment funds, project finance groups and potential offtake users. The capital expenditures for our Pastos Grandes project is approximately $410m USD and we are in the process of securing this financing.

What recent news would you like to highlight to investors attending?

Our updated 43-101 report is scheduled to be released in April 2019, which should increase Pastos Grandes resource even further. Our definitive feasibility study is to be completed by the middle of 2019. The company is also building a pilot plant with pilot solar evaporation ponds already completed and operating. The pilot processing plant is expected to be operational in Q3.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Complete the definitive feasibility study

6 Months:

Produce a battery grade LCE product at site through our pilot operations.

12 Months:

Secure final construction permits and financing and begin project construction.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The key risks are around financing. Securing Mining finance can be difficult in this market. We are actively de-risking the Pastos Grandes project through technical work; and as these technical milestones get achieved, it de-risks the project. We’ve hired Credit Suisse as our lead financial arranger and they have a lot of experience in financing these types of projects. We currently have $45 million dollars in the bank.

In a sentence, what do you think makes your company such a compelling investment?

The Pastos grandes is very robust, scalable and at the lowest end of the cost curve for lithium production. We are located in Salta province one of the best mining jurisdictions in the world. The company has a world class management team and is one of the best funded lithium development companies in the world. With the increase in EV’s and battery storage markets, we feel we are in a very good position to capitalize on this demand.