meeting a lithium future For personal use only · The following presentation represents GalaxyThe following presentation represents Galaxy s managem’s managementent s best judgment

meeting a lithium future

GALAXY RESOURCES LIMITEDGALAXY RESOURCES LIMITEDASX Small to Mid Cap ConferenceASX Small to Mid Cap Conference

Hong Kong & Singaporeg g g p

By Charles WhitfieldBy Charles WhitfieldExecutive Director

Galaxy Resources Limited

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The following presentation represents Galaxy’s management’s best judgment at the time of presentation The contents include forward looking The following presentation represents Galaxy s management s best judgment at the time of presentation. The contents include forward looking statements prepared on the basis of assumptions which may prove to be incorrect. This presentation should not be relied upon as recommendation or forecast by Galaxy Resources Limited. No representation or warranty is made as to accuracy, completeness or reliability of the information

Competent Persons

Information that relates to Mineral Resources in this report is based on information compiled by Mr. Robert Spiers who is a full time employee of Hellman & SchofieldPty Ltd. Information that relates to Exploration Results including exploration data and geological interpretations is based on information compiled by Mr Philip Tornatorawho is a full time employee of Galaxy. Mr Spiers and Mr Tornatora are Members of the Australian Institute of Geoscientists and qualify as Competent Persons asdefined in the 2004 JORC Code. Mr. Spiers and Mr Tornatora consent to the inclusion in this report of the matters based on their information in the form and context inwhich it appears.

Information in this report that relates to Mineral Ore Reserves is based on information compiled by Mr. Glenn Williamson who is a full time employee of MiningResources Pty Ltd. Mr. Williamson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activityhe is undertaking to qualify as a Competent Person as defined in the 2004 JORC Code. Mr. Williamson consents to the inclusion in this report of the matters based onhis information in the form and context in which it appears.


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LITHIUM POWERLITHIUM POWERmeeting a lithium future

LITHIUM POWERLITHIUM POWER

LighterLighterEndurance

Lithium Ion

Longer LifeEnergy Density Environment

Longer LifeEnergy Density Environment

Hour

s /Kg

Lithium Ion Battery

EnvironmentUS$11b US$43b (‘20)EnvironmentUS$11b US$43b (‘20)

nerg

y: W

att-H

Ni k l C d i

Nickel Metal Hydride Battery

En Nickel Cadmium Battery

Acceleration

Power per Kilogram (kg)

Lead Acid Battery

Galaxy Resources Limited 3Source: Galaxy Resources Ltd

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INVESTMENT OVERVIEWINVESTMENT OVERVIEWmeeting a lithium future

INVESTMENT OVERVIEWINVESTMENT OVERVIEW

Unique Strategy – Vertical Integration Unique Strategy – Vertical Integration gy gLithium Pure PlayOperating mine and ore reserves, (36mt ore reserves –

gy gLithium Pure PlayOperating mine and ore reserves, (36mt ore reserves –Australia / Canada)Large scale processing facility (17,000 tpa LC - China)Australia / Canada)Large scale processing facility (17,000 tpa LC - China)World class lithium battery production facility Projects de-risked by “Off-take” agreements World class lithium battery production facility Projects de-risked by “Off-take” agreements

Galaxy Resources Limited 4

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INTEGRATION & VALUE ADDINTEGRATION & VALUE ADDmeeting a lithium future

INTEGRATION & VALUE ADDINTEGRATION & VALUE ADD

Spodumene Production

Lithium CarbonateProduction

Lithium CathodeProduction

Lithium Battery Production

$1 $3 $44 $500

Revenue per Li unit

Galaxy Resources Limited Source: Galaxy Resources Limited

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CORPORATE STRUCTURECORPORATE STRUCTUREmeeting a lithium future

CORPORATE STRUCTURECORPORATE STRUCTURE

Registered in Australia and listed on ASXMember of the S&P/ASX300 companyRegistered in Australia and listed on ASXMember of the S&P/ASX300 company

Capital StructureCash position – A$185millionBoard & Mge - 11% shares + optionsCash position – A$185millionBoard & Mge - 11% shares + options

Capital Structure

Shares on issue 323 m

Options on issue 51.7mp

Share price (as of 16 May 11) A$1.02

Undiluted market capitalization A$330m400450

Galaxy Market Capitalisation (fully diluted)

Substantial Shareholders

Diluted market capitalization A$382m

200250300350

t Cap

A$m

Creat Resources 11.0%Fengli Group 7.0%

050

100150200

Mar

ke

0


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INDUSTRY OVERVIEWINDUSTRY OVERVIEW


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LITHIUM CONSUMPTION BY END USELITHIUM CONSUMPTION BY END USEmeeting a lithium future

LITHIUM CONSUMPTION – BY END USELITHIUM CONSUMPTION – BY END USE

Lithium has a wide variety of end usesLithium batteries are the growth segment Lithium has a wide variety of end usesLithium batteries are the growth segment Lithium batteries are the growth segment Only segment where demand grew in 2009Lithium batteries are the growth segment Only segment where demand grew in 2009

Battery 23R bb O 1

Estimated Consumption of Lithium by end use 2009 (est. 100,000 tons LCE)

Battery, 23

Continuous Casting, 4

Rubber Thermoplastics, 4

Other, 15

Air Treatment, 6

Aluminium, 6

Ceramic Glass, 31

Greases, 9

Pharmaceuticals, 2

Galaxy Resources Limited 8Source: Roskill

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GROWTH IN OTHER AREAS BEFORE EVsGROWTH IN OTHER AREAS BEFORE EVsmeeting a lithium future

GROWTH IN OTHER AREAS BEFORE EVsGROWTH IN OTHER AREAS BEFORE EVsni

ts Electric Vehicles *US$13b 2020

ery

Un

Energy Storage *US$13b 2020

i Bat

te

E Bikes

Starter Batteries*US$16b 2020

Li

Power Tools

E-Bikes

TimeGrowth 25-30%Electronics

Time

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Galaxy Resources Limited Source: *Amadee

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GLOBAL LITHIUM FORECASTGLOBAL LITHIUM FORECASTmeeting a lithium future

GLOBAL LITHIUM FORECASTGLOBAL LITHIUM FORECAST

FMC Corp ForecastWorld Lithium Supply Conference 2011 Toronto

FMC Corp ForecastWorld Lithium Supply Conference 2011 Toronto

2-3 times Demand Increase by 20202-3 times Demand Increase by 2020Increase by 2020Increase by 2020

SignomBox ForecastWorld Lithium Supply Conference 2011 Toronto

SignomBox ForecastWorld Lithium Supply Conference 2011 Toronto


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DEMAND AT PRE GFC LEVELSDEMAND AT PRE GFC LEVELSmeeting a lithium future

DEMAND AT PRE GFC LEVELSDEMAND AT PRE GFC LEVELS

SQM: 2010 Revenue up by 24% - Volume up by 52% to 32,400tFMC Lithi R b 10% d i b 16%SQM: 2010 Revenue up by 24% - Volume up by 52% to 32,400tFMC Lithi R b 10% d i b 16%FMC Lithium: Revenue up by 10% and earnings by 16%Chemetall: Net sales up by 16% and EBITDA up by 20.4%Talison: Revenue (H2 2010) up by 33% Volume by 32% and EBITDA by 26%

FMC Lithium: Revenue up by 10% and earnings by 16%Chemetall: Net sales up by 16% and EBITDA up by 20.4%Talison: Revenue (H2 2010) up by 33% Volume by 32% and EBITDA by 26%Talison: Revenue (H2 2010) up by 33% - Volume by 32% and EBITDA by 26%.

Average lithium concentrate price up by 14%Talison: Revenue (H2 2010) up by 33% - Volume by 32% and EBITDA by 26%.

Average lithium concentrate price up by 14%

PRICE INCREASE ANNOUNCEMENTS:FMC – Sept 2010 LiOH price up by 10% LiCl and Butyllithium by 8%

PRICE INCREASE ANNOUNCEMENTS:FMC – Sept 2010 LiOH price up by 10% LiCl and Butyllithium by 8%FMC Sept 2010, LiOH price up by 10%, LiCl and Butyllithium by 8%Chemetall - Oct 2010, Organolithium products up by 8% 15% price increase of lithium bromide by FMC

FMC Sept 2010, LiOH price up by 10%, LiCl and Butyllithium by 8%Chemetall - Oct 2010, Organolithium products up by 8% 15% price increase of lithium bromide by FMC15% price increase of lithium bromide by FMC15% price increase of lithium bromide by FMC


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SPODUMENE DEMANDSPODUMENE DEMANDmeeting a lithium future

SPODUMENE DEMANDSPODUMENE DEMAND

Bunbury Port Spodumene Export Quantity Monthly

CY 2010 CY 2009 CY 2011

300,000325,000350,000

Tonne CY 2010 CY 2009 CY 2011

200,000225,000250,000275,000

,

100,000125,000150,000175,000

,

CY 2011

025,00050,00075,000

100,000

0

Galaxy Resources Limited Source: Bunbury Port Authority

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ROSKILL PRICE FORECASTROSKILL PRICE FORECASTmeeting a lithium future

ROSKILL PRICE FORECASTROSKILL PRICE FORECAST

8,000

$/t)

6 000

7,000

Pric

e (U

S$

GFC

5,000

6,000

Car

bona

te

Global a erage e ports

Global average importsRoskill forecast

3,000

4,000

Lith

ium

Global average exports

1,000

2,000

0

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Galaxy Resources Limited Source: Global Trade Information Services, Roskill

2 2 2 2 2 2 2 2 2 2 2 2 2 2

All figures – Real terms

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MARKET SEGMENTATIONMARKET SEGMENTATIONmeeting a lithium future

MARKET SEGMENTATIONMARKET SEGMENTATION

Industrial Grade

Technical Grade

EVGrade

Battery Grade

EV PlusGrade

<99.0% LC 99.0% LC 99.5% LC 99.9% LC 99.99% LC

Price US$5,500/t75% of battery market




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FOCUS ON THE E BIKE MARKETFOCUS ON THE E BIKE MARKETmeeting a lithium future

FOCUS ON THE E-BIKE MARKETFOCUS ON THE E-BIKE MARKET

China to remain as major driverChina to remain as major driver E Bikes Sales in Asia till 2016E Bikes Sales in Asia till 2016China to remain as major driver98% are heavy lead acid batteriesC C G %

China to remain as major driver98% are heavy lead acid batteriesC C G % 35 5

3840.5

44

40

45

50

es Sa es s a 0 6es Sa es s a 0 6

China CAGR 8.2% till 2016 Year 2016 output - 44 m bikes paChina CAGR 8.2% till 2016 Year 2016 output - 44 m bikes pa

1921

23.527

3033

35.5

20

25

30

35

40

PRC weight restrictionsMass conversion to Li BatteriesPRC weight restrictionsMass conversion to Li Batteries 0.2 0.2 0.3

25

7.510

14

0

5

10

15

20

01999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016


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CHINA MACRO STRATEGY CHINA MACRO STRATEGY meeting a lithium future

CHINA MACRO STRATEGY CHINA MACRO STRATEGY

China – Less reliance on oil based transport systemTwelve 5 Year Plan – Low Carbon EconomyChina – Less reliance on oil based transport systemTwelve 5 Year Plan – Low Carbon Economy0.5m EVs by 2015, 5m Evs by 2020 (13.6 mil vehicles pa)50% ownership of EVs & Hybrids by 20300.5m EVs by 2015, 5m Evs by 2020 (13.6 mil vehicles pa)50% ownership of EVs & Hybrids by 2030p y yBeijing Initiatives will drive EV demand

p y yBeijing Initiatives will drive EV demand

“Mass energy storage” key to China’s strategy China targeting 20% from renewable source by 2020“Mass energy storage” key to China’s strategy China targeting 20% from renewable source by 2020China - 1 MW of wind power installed every hourChina - 1 MW of wind power installed every hour


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GALAXY’S BUSINESSGALAXY’S BUSINESSGALAXY S BUSINESS

RESOURCE, CHEMICAL, BATTERY

GALAXY S BUSINESS

RESOURCE, CHEMICAL, BATTERY, ,, ,


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BUSINESS DIVISIONSBUSINESS DIVISIONSmeeting a lithium future

BUSINESS DIVISIONSBUSINESS DIVISIONS

MD Iggy Tan

Corporate Company

MD Terry Stark MD Guojiang Sun A ct MD Lui Chan

Resource Division

Chemical Division

Battery Division

Wesfarmer’s style business structure allows Galaxy to manage diverse Wesfarmer’s style business structure allows Galaxy to manage diverse business unitsbusiness units


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RESOURCE DIVISIONRESOURCE DIVISION

SECURING FUTURE SUPPLYSECURING FUTURE SUPPLYSECURING FUTURE SUPPLYSECURING FUTURE SUPPLY


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MT CATTLIN MINEMT CATTLIN MINEmeeting a lithium future

MT CATTLIN MINEMT CATTLIN MINE

Significant lithium ore reserve Significant lithium ore reserve Resource of 18 mt at 1.08% Li2OExpected mine life of 18 years at 1 mtpa

137 000 tpa spodumene grading 6% Li O

Resource of 18 mt at 1.08% Li2OExpected mine life of 18 years at 1 mtpa

137 000 tpa spodumene grading 6% Li O137,000 tpa spodumene grading 6% Li2O

Record construction to production <11 months

137,000 tpa spodumene grading 6% Li2O

Record construction to production <11 monthsConstruction - On time and on budget (A$80m)First shipment 6,500 t on 26 March 2011Second shipment in July 2011

Construction - On time and on budget (A$80m)First shipment 6,500 t on 26 March 2011Second shipment in July 2011Second shipment in July 2011First Tantalite concentrate sale on 16 march 2011Second shipment in July 2011First Tantalite concentrate sale on 16 march 2011

Ramp up slower initially - now on track at 75% of design outputRamp up slower initially - now on track at 75% of design output

Esperance


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Run of Mine PadRun of Mine Pad

meeting a lithium futureMaintenanceMaintenanceBuildingBuilding

CrusherCrusher

Power GenerationPower Generation

BuildingBuilding

Primary ScreeningPrimary Screening

DMSDMS PlantPlant

L b tL b tTailings TreatmentTailings Treatment

WaterWaterTreatmentTreatment

LaboratoryLaboratory


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Process WaterProcess WaterConveyor 1Conveyor 1

Fine Ore BinFine Ore Bin

ocess ateocess ate

Waste BinWaste BinWaste BinWaste Bin

DMSDMS PlantPlant

Control RoomControl Room

LaboratoryLaboratory


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Galaxy Resources Limited Open pit mining

23

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JIANGSU PLANT IS STRATEGICALLY LOCATEDJIANGSU PLANT IS STRATEGICALLY LOCATEDmeeting a lithium future

JIANGSU PLANT IS STRATEGICALLY LOCATEDJIANGSU PLANT IS STRATEGICALLY LOCATED

Feeder to primary crusher Mt Cattlin control room`


Heavy media plant and spodumene stockpile area Wet plant

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OTHER LITHIUM RESOURCEOTHER LITHIUM RESOURCE


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JAMES BAY ACQUISITION JAMES BAY ACQUISITION meeting a lithium future

JAMES BAY ACQUISITION JAMES BAY ACQUISITION

Building our lithium footprintFarm–in acquisition of up to 70%Building our lithium footprintFarm–in acquisition of up to 70%Farm–in acquisition of up to 70%C$3m to earn 20%C$3m expenditure on DFS to earn to 51%

Farm–in acquisition of up to 70%C$3m to earn 20%C$3m expenditure on DFS to earn to 51%DFS completion to earn to 70%DFS completion to earn to 70%


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JAMES BAY ACQUISITION JAMES BAY ACQUISITION meeting a lithium future

JAMES BAY ACQUISITION JAMES BAY ACQUISITION

Resource of 22 mt @ 1.28% Li2OResource of 22 mt @ 1.28% Li2OSimilar coarse grained pegmatite ore type to Mt CattlinSimilar design plans and DFS

Similar coarse grained pegmatite ore type to Mt CattlinSimilar design plans and DFSSimilar design plans and DFSSimilar design plans and DFS

Photo of Trenching sample on the pegmatite orebodyPhoto of Trenching sample on the pegmatite orebody


Photo of Trenching sample on the pegmatite orebodyPhoto of Trenching sample on the pegmatite orebody

28

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CHEMICAL DIVISIONCHEMICAL DIVISIONCHEMICAL DIVISION

STRATEGY FOR HIGH QUALITY PRODUCTION

CHEMICAL DIVISION

STRATEGY FOR HIGH QUALITY PRODUCTION


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GL LOCATIONGL LOCATIONmeeting a lithium future

GL LOCATIONGL LOCATION

Xinjiang Non-ferrous

Aba GuangshengAba Guangsheng

GENERAL LITHIUMSichuan Ni&Co Guorun

Minfeng Lithium

JIANGSU

Jiangxi Ningdu Taiyu

Sichuan Tianqi


Jiangxi Ningdu Taiyu

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Jiangsu Plant near the east coast of the PRCJiangsu Plant near the east coast of the PRCWharf the PRC

Zhangjiagang Free Trade ZoneJiangsu International Chemical

the PRCZhangjiagang Free Trade ZoneJiangsu International Chemical Acid Plant

Industrial ParkAdjacent to a wharf, spodumeneshipped from Esperance

Industrial ParkAdjacent to a wharf, spodumeneshipped from Esperanceshipped from EsperanceSupply of key physical inputs, sulfuric acid and soda ash close by

shipped from EsperanceSupply of key physical inputs, sulfuric acid and soda ash close byyClose to potential domestic Chinese customers and export markets

yClose to potential domestic Chinese customers and export markets

Jiangsu Lithium Carbonate PlantJiangsu Lithium Carbonate Plant


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JIANGSU LITHIUM CARBONATE PLANTJIANGSU LITHIUM CARBONATE PLANTmeeting a lithium future

JIANGSU LITHIUM CARBONATE PLANTJIANGSU LITHIUM CARBONATE PLANT

Largest LC processing plant in ChinaC tl d t tiLargest LC processing plant in ChinaC tl d t tiCurrently under constructionCommissioning expected in 2011 17 000 tpa of high quality LC grading 99 5% and

Currently under constructionCommissioning expected in 2011 17 000 tpa of high quality LC grading 99 5% and 17,000 tpa of high quality LC grading 99.5% and aboveProprietary, continuous production technology

17,000 tpa of high quality LC grading 99.5% and aboveProprietary, continuous production technologyp y p gyCapability - 99.9% purity and aboveFocus lithium-ion battery industry

p y p gyCapability - 99.9% purity and aboveFocus lithium-ion battery industrySodium sulfate as a by-productSodium sulfate as a by-product


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Galaxy Resources Limited Artist Impression - Jiangsu Lithium Carbonate Plant

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Site Buildings Processing Building

Galaxy Resources Limited 34Conveyor construction to wharf Calciner construction on site

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Installed bulk bagging machine

Galaxy Resources Limited 35Installed Micronizer Processing Building

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Product warehouseAdministration building

Galaxy Resources Limited 36Kiln shell with girth gear

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Process building Warehouse and pipe rack

Galaxy Resources Limited 37Major equipment on site Maintenance building

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CHINA PRODUCT DISTRIBUTION CHINA PRODUCT DISTRIBUTION meeting a lithium future

CHINA PRODUCT DISTRIBUTION CHINA PRODUCT DISTRIBUTION

Tianjin Warehouse

Galaxy Plant

Changsha Warehouse


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OFFTAKE FRAMEWORK AGREEMENTSOFFTAKE FRAMEWORK AGREEMENTSmeeting a lithium future

OFFTAKE FRAMEWORK AGREEMENTSOFFTAKE FRAMEWORK AGREEMENTS

To support planned production of 17,000 tpa , To support planned production of 17,000 tpa , A number of offtake framework agreements:

Mitsubishi as exclusive distributer in Japan (5,000 tpa)A number of offtake framework agreements:

Mitsubishi as exclusive distributer in Japan (5,000 tpa)13 major lithium cathode producers in China for the remaining 12,000 tpa

Contemplate the sale of fixed annual volumes

13 major lithium cathode producers in China for the remaining 12,000 tpa

Contemplate the sale of fixed annual volumes Contemplate the sale of fixed annual volumes Price agreed on a quarterly basisMinimum of 99 5% purity

Contemplate the sale of fixed annual volumes Price agreed on a quarterly basisMinimum of 99 5% purityMinimum of 99.5% purityMinimum of 99.5% purity


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BATTERY DIVISIONBATTERY DIVISIONBATTERY DIVISION

STATE OF THE ART PRODUCTION

BATTERY DIVISION

STATE OF THE ART PRODUCTIONSTATE OF THE ART PRODUCTIONSTATE OF THE ART PRODUCTION


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POTENTIAL LITHIUM ION BATTERY PLANTPOTENTIAL LITHIUM ION BATTERY PLANTmeeting a lithium future

POTENTIAL LITHIUM-ION BATTERY PLANTPOTENTIAL LITHIUM-ION BATTERY PLANT

Feasibility study completedF ll a tomation

Feasibility study completedF ll a tomationFull automation“Turn key” equipment supplied by KUBT (Korea)US lithium battery technology

Full automation“Turn key” equipment supplied by KUBT (Korea)US lithium battery technology US lithium battery technology Phase 1, 350,000 E-bike battery packs p.a.Two additional phases to total 1.05 mn packs p.a.

US lithium battery technology Phase 1, 350,000 E-bike battery packs p.a.Two additional phases to total 1.05 mn packs p.a.Two additional phases to total 1.05 mn packs p.a.

Experienced management team on boardCommenced securing battery off-take

Two additional phases to total 1.05 mn packs p.a.Experienced management team on boardCommenced securing battery off-takeg yg y


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PROJECT STATISTICSPROJECT STATISTICSmeeting a lithium future

PROJECT STATISTICSPROJECT STATISTICS

St ti ti Phase 1Statistic Phase 1

Number of Battery Packs pa 350, 000y p

Battery Pack Capacity 36V, 10Ah

C th d B M t i l LFPCathode Base Material LFP

Anode Base Material Graphite

Manufacturing Building Area 7,441m2


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Galaxy Resources Limited Artist Impression of battery plant

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Typical KUBT mixerTypical KUBT mixers


KUBT coating and drying machinery

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KUBT rolling and slitting machinery KUBT rolling and slitting machinery


KUBT separator formation machineryKUBT separator formation machinery

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FEASIBILITY STUDYFEASIBILITY STUDYmeeting a lithium future

FEASIBILITY STUDYFEASIBILITY STUDY

Capital Costs (*1st Phase) A$ 134 million

Cumulative Capital Costs (^after 3rd Phase) A$ 340 million

Revenue pa ^ A$ 201 millionAve Net Cash (pre tax) pa ^ A$ 101 millionAverage cost of a pack A$ 104Average price of a pack A$ 186

Net Present Value NPV (non-geared, real @10%) ^ A$ 459 million

Internal rate of Return IRR% 33%


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POTENTIAL LOCATION OF BATTERY PLANTPOTENTIAL LOCATION OF BATTERY PLANTmeeting a lithium future

POTENTIAL LOCATION OF BATTERY PLANTPOTENTIAL LOCATION OF BATTERY PLANT

Lithium Carbonate Plant SitePlant Site

Potential Battery Plant Location


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THANK YOUTHANK YOU


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Documents

meeting a lithium future For personal use only · The following presentation represents GalaxyThe following presentation represents Galaxy s managem’s managementent s best judgment