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AGM Management Presentation June 22, 2016

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AGM Management Presentation

June 22, 2016

Orbite © TSX: ORT OTCQX: EORBF

Certain information contained in this document may include "forward-looking information". Without limiting the

foregoing, the information and any forward-looking information may include statements regarding projects, costs,

objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as

"may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and

the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be

read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the

times at or by which, such future performance will be achieved. Forward-looking statements and information are based

on information available at the time and/or the Company management's good-faith beliefs with respect to future events

and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which

are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those

described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed

on March 30, 2016 on SEDAR, including those under the headings “Recent increase in budgeted capital costs will

require additional financing and may adversely impact our prospects”, “We will need to raise capital to continue our

growth” and “Development Goals and Time Frames”.

The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information

or statements contained in this document to reflect subsequent information, events or circumstances or otherwise,

except as required by applicable laws.

Forward looking statements

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Today’s Agenda

All Things HPA

• Construction

• Going commercial

What We Have Learned

• Challenges met

• Adjustments going forward

Waste Monetization

• The opportunity

• Creating value

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All Things HPA

Construction

Commissioning Start-up

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Construction – Where We Are Today

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Civil & Structural

• 3 new building additions

• 60 equipment foundations

• 20 equipment platforms

• 40 tonnes of steel

• 90 tonnes of concrete

Decomposer & Calciner

• 2 - 10m high / 70 tonne fluidized beds

• 60,000 bricks

• 400,000 lbs of refractory

• Heated to 900 ⁰C & cured

Other Major Mechanical Equipment

• 200 pieces of equipment installed:

Pumps, motors, reservoirs, hoppers,

cooling systems, etc.

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Construction – Continued

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Piping

• 2.0 km installed

• Utilities piping (air, steam, water)

• Acid gas capture

• Acid regeneration

• High temperature process steam

Electrical & Instrumentation

• High voltage inlet transformers

• 31 transformer substation for calcination

system

• 20 km of electrical wiring

• Decomposer & calciner heating & control

systems

Other

• Ventilation (materially complete)

• Insulation (50% complete)

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Construction – What Remains To Be Done

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Civil & Structural

• Completed

Decomposer & Calciner

• Completed

Major Mechanical

• Completed

Piping

• 3.8 km of piping to be installed:

o Cooling & demineralised water system

o Piping systems for digester & crystallisation

o Acid handling & acid gas scrubbing piping

Electrical & Instrumentation

• 20 motors to connect

• Instrumentation (50% complete)

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Commissioning & Start-Up - Completed

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Utilities

• Air, steam & cooling water systems (circuit 1)

• Water treatment for steam & cooling water

production

• Process water treatment system

• Feedstock reception & handling

• Acid & caustic reception & storage

Commissioned & Cold Start-Up

• Decomposition

• Calcination

• Electrical heating system for calcination

system

• Steam superheater

• Acid regeneration

• Calcination offgas capture & treatment

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Extensive & Full-Scale Material Transfer Test

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5.1

m

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Construction

Video

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Next Steps

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June 20th

Piping – Fjordtech

Week of June 27th

Electrical – Under

evaluation

Fjordtech mobilizes

and commences

work week of July 4th

8 week fixed price

contract with schedule

penalty clause

No construction

holiday downtime

Completion of cooling

system for calcination

system

Hot start-up & testing of

decomposer/calciner

Demineralised water

New cooling tower (#2)

Acid handling

Digestion & crystallisation

Crystal delivery to

decomposer

Process start-up

HPA washing, grinding &

packaging

Plant start-up

START COMMERCIAL PRODUCTION IN Q3 2016

FIXED PRICE CONTRACT AWARD

CNC DEMOBILIZATION

4 WEEKS IN CONSTRUCTION SEQUENCED FOR DELIVERY

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Commercial

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The supplier qualification process

HPA sample status update

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Supplier Qualification Process

Typical Qualification Process

Initial confirmation of acceptability in laboratory

(Chemical & physical properties)

• Sample size: ≈ 0.1 to 2 kg

• Testing: 2 - 4 months

Larger sample order to test process compatibility

• Sample size: ≈ 1 to 10 kg

• Testing: 3 - 9 months

Commercial sample order for industrial

production

• Sample size: ≈ 20 to 100 kg

• Testing: 3 - 6 months

Finalization

• Commercial terms, paperwork, order

confirmation

• Duration: 1 - 2 months

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First samples shipped mid 2015

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HPA sample status update

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27 samples shipped to

20 different prospective customers

21 additional samples to ship to

20 additional prospective customers

3 commercial samples (50 – 100 kgs each)

requests so far

1 shipped

Continuing to enlarge prospective customer

base by participating in trade shows

• Ceramic Expo

• Battery components

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What we have learned

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Challenges Met - Technical

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External Issues

• Originally supplied refractory

materials

• Supplier underestimated

complexity of refractory installation

• Supplier dispute

Internal Issues

• Underestimated complexity of

specialty piping installation

• Project management’s delayed

awareness of cost overrun

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Project Budget

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• Originally established off

HPA1 design

• Had to be completely

re-engineered

• Some of this work done while

advancing with construction

• Very limited CapEx waste

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What Went Right - Technical

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Engineering

• Successful commissioning and

start-up of equipment-systems

validate engineering

• Consistent and high purity ACH

production validate technology

• Commissioning to date validates

fluidized bed calcination system

Capabilities

• Quality of TDC has proven crucial

in identifying issues and making

the right technology choices

• Quality of TDC a strong asset to

help establish credibility

• In essence, delivering completely

new technology

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Adjustments going forward

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• Waste monetization detailed

engineering to be based on work

at TDC

• Detailed engineering will be

completed prior to construction,

allowing fixed price contracts

• Will benefit from having a

blueprint industrial scale plant

• Initiative to be developed with

global commercial partner

• Engineering and project

management: appointment of

Charles Taschereau as COO

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Waste Monetization

SIGN UP PARTNER

CONVERSION PLANT

TECHNICAL DEMONSTRATION

ENGINEERING BLUE PRINT

COMMERCIAL PROTOTYPE

LICENSING

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Strengthening IP portfolio – 2015/16 Review

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Patents granted

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National/international

patent applications

8

Continuation

patent applications

1

New IP family filed (Recovery of noble metals)

2015

7

Patents granted

2

National/international

patent applications

5

Continuation

patent applications

7

Notices of allowance

received

2016 YTD

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Fly Ash Prospective Partner - Case Study North America – About 10.2 M tonnes stored over 3 sites

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1 Million tonne of Fly Ash/year plant

Measured

Content

Typical Pricing

(US $/tonne)

Expected annual

revenue

(US $ M)

Al2O3 15.9% 222 35.3

Fe2O3 18.4% 62 11.4

MgO 1.4% 420 5.7

SiO2 35.4% 32 11.3

Ga 36 ppm 128 4.6

REO's 525 ppm 278.63* 146.3

Total: 214.6

All fly ash treated: $ 2.2 bn

* Average basket price as at May 2, 2016, including scandium oxide

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Red Mud Prospective Partner - Case Study EMEA – About 15 M tonnes stored on site

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1 Million tonne of Red Mud/year plant

Measured

Content

Typical Pricing

(US $/tonne)

Expected annual

revenue

(US $ M)

Al2O3 23.4% 222 51.9

Fe2O3 19.5% 62 12.1

MgO 0.2% 420 0.9

SiO2 15.7% 32 5.0

Ga 54 ppm 128 6.9

REO's 988 ppm 375.78* 371.2

Total: 448.1

All red mud treated: $ 6.72 bn

* Average basket price as at May 2, 2016, including scandium oxide

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Creating Value

>$101.5 billion Asset value based on current production levels only

>$455 billion Value in current red mud stock piles

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Building more value into

the company

Short-term

• Formal collaboration

• Expansion of IP

• Engagement with prospective

customers

Long-term

• Unlocking the incredible

value stored in different

waste sources

• Global expansion

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All challenges encountered were met

Fully funded for plant completion

Very near to plant completion and

start of production

Strong momentum on commercial

front

Operational and management

change to prepare for future

Well positioned for waste

monetization

Conclusion

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Annual Meeting of Shareholders

Thank you

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