BCA Presentation & Webinar
Released
Released
Announcement PDF
Jindalee Lithium Limited www.jindaleelithum.com
ABN 52 064 121 133 E: enquiry@jindaleelithium.com
Level 2, 9 Havelock Street, West Perth, WA, 6005 P: +61 9321 7550
PO Box 1033, West Perth, WA 6872 F: +61 9321 7950
JLL
Engage with this announcement at the Jindalee Investor Hub.
Transaction Overview
Jindalee Lithium Limited (Jindalee, the Company; ASX: JLL, OTCQX: JNDAF) is pleased to advise
shareholders and investors that the Company will be conducting a live investor briefing to provide an update
on the recently announced Business Combination Agreement (BCA) to list the McDermitt Lithium and
Magnesium Project on NASDAQ via US Elemental Inc. – a company which is expected carry an enterprise
value of approximately US$571M on listing1
.
Jindalee Managing Director and CEO, Ian Rodger will present the live update, followed by an interactive Q&A
session.
The Company invites shareholders, investors and media to register to attend the webinar via the link below:
WEBINAR LINK: https://bit.ly/4ck8bBD
DATE: Tuesday, 14 April 2026
TIME: 8.00 am (AWST) / 10.00 am (AEST)
The Company also encourages participants to send questions in advance to Lucas Robinson at Corporate
Storytime via email: info@corporatestorytime.com
A link to the replay of the webinar will be posted on Jindalee Lithium’s website and shared to social media as
soon as it is available, for those unable to attend the live webinar.
Authorised for release by the Jindalee Board of Directors.
For further information please contact:
IAN RODGER LINDSAY DUDFIELD
Managing Director & Chief Executive Officer Executive Director
T: + 61 8 9321 7550 T: + 61 8 9321 7550
E: enquiry@jindaleelithium.com E: enquiry@jindaleelithium.com
JNDAF
10 April 2026
JLL Updated Presentation and BCA
Investor Briefing Webinar
• Updated JLL Corporate Presentation following recent BCA Announcement to list the
McDermitt Project on NASDAQ1
• Investor webinar scheduled for 10am AEST on Tuesday, 14 April 2026
JLL Updated Presentation and BCA Investor Briefing Webinar
References
1. Jindalee Lithium ASX announcement 09/04/2026 "Jindalee Signs BCA to List McDermitt on NASDAQ"
About Jindalee
Jindalee Lithium is an Australian company focused on developing the McDermitt Lithium Project, one of the largest lithium
resources in the U.S. With 100% ownership and unencumbered offtake rights, Jindalee is strategically positioned to support
America’s energy security and domestic supply of critical minerals. The Company completed a Pre-Feasibility Study (PFS) in
November 2024 confirming McDermitt’s scale, long-life, and low-cost production potential, with strong engagement from US
government agencies, including the Department of Energy. As a deeply undervalued lithium developer, Jindalee presents a
compelling investment opportunity ahead of the next lithium market upcycle.
Forward-Looking Statements
This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to
statements concerning Jindalee Lithium Limited’s (Jindalee’s) current expectations, estimates and projections about the
industry in which Jindalee operates, and beliefs and assumptions regarding Jindalee’s future performance. When used in this
document, the words such as “anticipate”, “could”, “plan”, “estimate”, “expects”, “seeks”, “intends”, “may”, “potential”, “should”,
and similar expressions are forward-looking statements. Although Jindalee believes that its expectations reflected in these
forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other
factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent
with these forward-looking statements.
Entering the Next Growth Cycle
ASX Code JLL
JNDAF
OTCQX
jindaleelithium.com
Investor Presentation | April 2026
BCA signed to list the McDermitt Project on NASDAQ
2
Warning Statement
All amounts are in US$ unless stated otherwise.
This Presentation has been prepared by Jindalee Lithium Limited (“Jindalee,”
“Company” or “JLL”) and is authorised for release by its Chief Executive Officer, Mr.
Ian Rodger. This presentation provides general background information about
Jindalee’s activities. That information is current at the date of this presentation and
remains subject to change without notice. Certain information in this presentation has
been derived from third parties and though Jindalee has no reason to believe that it is
not accurate, reliable, or complete, it has not been independently audited or verified
by Jindalee. Except to the extent required by law, Jindalee makes no representations
or warranty as to the accuracy, reliability, or completeness of information in this
document and does not take responsibility for updating any information or correcting
any errors or omissions which may become apparent after this presentation is
released.
This presentation is for information purposes only and is a summary and does not
purport to be complete nor does it contain all the information which would be required
in, nor is it, a prospectus, product disclosure statement, or other disclosure document
under Australian law or any other law (and will not be lodged with the Australian
Securities and Investments Commission or any foreign regulator) and is not, and does
not constitute, an invitation or offer of securities for subscription, purchase, or sale in
any jurisdiction. In particular, this presentation does not constitute an invitation or offer
of securities for subscription, purchase, or sale in the United States or any other
jurisdiction in which such an offer would be illegal. The securities referred to in this
presentation have not been and will not be registered under the U.S. Securities Act of
1933 as amended or the securities laws of any state or other jurisdiction of the United
States and may not be offered or sold, directly or indirectly in the United States.
Pre-Feasibility Study. The Pre-Feasibility Study, including the production target and
the forecast financial information derived from the production target, referred to in this
presentation (PFS) was first released to the ASX on 19 November 2024 (PFS
Announcement). This presentation includes summary excerpts from the PFS and
does not purport to be all-inclusive or complete and should be read together with the
PFS Announcement. The Company confirms that all material assumptions and
technical parameters underpinning the production target and the forecast financial
information derived from the production target, in the PFS Announcement continue to
apply and have not materially changed.
Shareholders and prospective investors should be aware that the PFS and this
presentation does not include any forecast financial information in respect of the
period after the initial 40 years of the Processing Schedule (post single commission
and ramp up year), as Jindalee cannot, at this stage, provide forecast financial
information for that subsequent period.
This presentation contains certain forward-looking statements, including forecast
financial information. Forward-looking statements include but are not limited to
statements concerning Jindalee’s current expectations, estimates, and projections
about the industry in which Jindalee operates and beliefs and assumptions regarding
Jindalee’s future performance. When used in this document, the words such as
“anticipate,” “could,” “plan,” “estimate,” “expects,” “seeks,” “intends,” “may,” “potential,”
“should,” and similar expressions are forward-looking statements. Although Jindalee
believes that that it has a reasonable basis for those forward looking statements and
forecast financial information, including the use of a flat US$24,000/t lithium carbonate
price in the PFS, the production target set out in this presentation and the financial
information based on it , such statements are subject to known and unknown risks,
uncertainties, and other factors, some of which are beyond the control of Jindalee and
no assurance can be given that actual results will be consistent with these forward-
looking statements. The basis for that conclusion is contained throughout the PFS
Announcement and all material assumptions, including the JORC modifying factors,
upon which the forward looking statements and forecast financial information are
based, are disclosed in the PFS Announcement and this presentation should be read
together with the PFS Announcement.
To achieve the range of outcomes indicated in the PFS, the PFS estimates that
funding in the order of US$3.02B in construction capital will be required. Shareholders
and investors should be aware that there is no certainty that Jindalee will be able to
raise the required funding when needed and it is possible that such funding may only
be available on terms that may be highly dilutive or otherwise adversely affect
Jindalee shareholders’ exposure to the McDermitt Lithium Project (Project)
economics. Specifically, as outlined in the PFS Announcement, Jindalee intends to
pursue potential third party partnerships (with parties who have the potential to be
joint venture partners in the Project) to advance the Project and may pursue other
value realisation strategies such as a sale or partial sale of the Project or underlying
future commodity streams. If it does so, such arrangements may materially reduce
Jindalee’s proportionate ownership of the Project and/ or adversely affect Jindalee
shareholders’ exposure to the Project economics.
Statements in this presentation regarding the Company’s business, which are not
historical facts, are forward-looking statements that involve risks and uncertainties.
These include, among others, risks and uncertainties related to Mineral Resource and
Ore Reserve estimates, production targets, forecast financial information, lithium
carbonate prices, capital and operating costs, risks related to results of current or
planned exploration activities, changes in market conditions, obtaining appropriate
approvals to undertake exploration activities in the portfolio of projects, changes in
exploration programs and budgets based upon the results of exploration, future prices
of minerals resources; grade or recovery rates; accidents, labour disputes, and other
risks of the mining industry; delays in obtaining government approvals or financing or
in the completion of development or construction activities; movements in the share
price of investments and the timing and proceeds realized on future disposals of
investments, force majeure events, as well as those factors detailed in the PFS
Announcement or, from time to time, in the Company’s interim and annual financial
statements and reports, all of which are available for review on ASX at asx.com.au
and OTC Markets at otcmarkets.com.
Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward-
looking statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. To the extent
permitted by law, Jindalee and its officers, employees, related bodies corporate and
agents disclaim all liability, direct, indirect or consequential (and whether or not arising
out of the negligence, default, or lack of care of Jindalee and/or any of its agents) for
any loss or damage suffered by a recipient or other persons out of, or in connection
with, any use or reliance on this presentation or information. This presentation does
not constitute investment advice and has been prepared without taking into account
any investor's particular investment objectives, financial circumstances or particular
needs and the opinions and recommendations in this presentations are not intended
to represent recommendations of particular investments to particular persons. You
should seek professional advice when deciding if an investment is appropriate. All
securities transactions involve risks, which include (among others) the risk of adverse
or unanticipated market, financial or political developments.
Please refer to Appendix 1 for details of the Competent Persons Statement’s relating
to the Mineral Resources and Ore Reserves contained in this Presentation.
Positioned to Unlock Value from
McDermitt
Key investment highlights:
(1) JLL ASX release 27/02/2023 “Resource at McDermitt increases to 21.5 Mt LCE”
(2) JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate” (PFS Announcement)
(3) Chinese Battery-Grade Lithium Carbonate Price (USD/mt) as at 12 February 2026. Source SMM
(4) JLL ASX release 22/04/2025 “McDermitt Project Fast-Tracked Under U.S. FAST-41 Initiative”
(5) JLL ASX release 11/12/2025 “US Government Approves Major Drilling Program at McDermitt”
(6) JLL ASX release 16/09/2024 “Jindalee Secures Strategic Agreement with US Department of Energy”
(7) JLL ASX release 09/04/2026 "Jindalee Signs BCA to List McDermitt on NASDAQ"
(8) See Appendix 2 for source and detailed breakdown of resource estimate
Oregon
View in Vrify
View in Vrify
21.5Mt LCE
Contained resource(1)
66%
EBITDA margin over the
first 10 years(2)
63 year
Project life(2)
McDermitt: Strategic asset supporting America’s critical mineral needs
✓ One of the largest lithium resources in the US @ 21.5Mt LCE(1).
✓ PFS confirms 60+ year, large-scale, low-cost production in the bottom half of the global
cost curve(2).
✓ Potential for material co-products including Magnesium(2).
Leveraged to Lithium Market Recovery Underway
✓ Market emerging from multi-year lows; lithium carbonate up ~118% from June 2025 low(3).
✓ Analyst sentiment turning bullish as supply risks grow and demand remains robust.
✓ McDermitt is one of the few advanced US projects positioned to capture the upturn.
Strong US Government Engagement and Support
✓ One of 10 initial FAST-41 transparency projects, fast-tracking federal permitting and
coordination(4). Major permitting milestone (EPO) approved December 2025(5).
✓ Currently partnering with the US Department of Energy via R&D Agreement(6).
✓ US Government ramping up funding for domestic critical minerals.
Nevada
Compelling Catalysts Ahead
✓ US Elemental (SPAC) transaction provides US$500m look through equity valuation for
McDermitt and pathway to US listing and funding McDermitt through feasibility(7).
✓ Other material catalysts include major EPO drilling program 2H 2026, potential US
government grant funding, strategic partnerships and Magnesium testwork results.
Thacker Pass Project
66.1Mt LCE(8)
Company Overview
4 Company Overview
Investor Presentation
Corporate snapshot(!)
Share Capital (ASX:JLL,OTCQX:JNDAF) 102.5m
Share Price A$0.485
Performance Rights & Options 39.6m
Market Capitalisation A$49.7m
Cash(2) A$6.5m
Investments(2) A$0.5m
Debt NIL
Enterprise Value A$42.7m
Major shareholders(1)
Lindsay Dudfield & associated entities3 19.6%
Citicorp Nominees 13.3%
Kevrex Pty Ltd 2.7%
UBS Nominees 2.6%
BNP Paribas Nominees 2.5%
0.00
0.20
0.40
0.60
0.80
1.00
1.20
Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26
Share price (ASX:JLL, OTCQX:JNDAF)
A$/share
(1) As at 8 April 2026 unless noted otherwise
(2) Cash and investments as at 31 December 2025
(3) Mr Lindsay Dudfield, Mr Dudfield and Mrs Yvonne Dudfield (as trustees of the LG Dudfield
Pension Fund) and Jopan Management Pty Ltd, a company owned by Mr Dudfield’s wife
(Yvonne Dudfield)
Transaction Overview1
▪ Business Combination Agreement (BCA) signed with Constellation Acquisition Corp. I
(Constellation), a US SPAC2 sponsored by Antarctica Capital, LLC (Antarctica) (>US$10B
AUM3)
▪ Transaction to establish US Elemental Inc. (US Elemental) as a newly formed, NASDAQ-listed
holding company for Jindalee's US assets (Transaction)
▪ Implied equity value of US$500M for Jindalee's US assets; pro forma Enterprise Value for
US Elemental of ~US$571M
▪ Transaction contemplates a US$20-30M capital raise, including a binding US$4M commitment
from Antarctica affiliates (~US$1.5M funded at BCA signing, ~US$2.5M at completion)
▪ Target close: H2 2026, subject to Constellation and Jindalee shareholder approvals,
satisfaction of a US$14M minimum cash condition (net of certain expenses), and customary
regulatory and closing conditions1
5 Transaction Overview
Investor Presentation
Change to Corporate Structure
(1) JLL ASX release 09/04/2026 “Jindalee Signs BCA to List McDermitt on NASDAQ”
(2) Special Purpose Acquisition Company
(3) Assets Under Management
(4) https://www.cohencm.com/
(5) De-SPAC is the term given to the merger between a listed Special Purpose Acquisition Corporation (SPAC) and a target company to go
public on US exchanges. The BCA outlined in this presentation is considered a De-SPAC transaction
(6) Private Investment in Public Equity
US$500M equity valuation and clear funding
pathway to advance McDermitt
JINDALEE
LITHIUM LTD
Listed on ASX
HITECH
MINERALS
INC.
(HiTech)
MCDERMITT
PROJECT
100% 100%
JINDALEE
LITHIUM LTD
Listed on ASX
US ELEMENTAL
Listed on Nasdaq
MCDERMITT
PROJECT
>80% 100%
SPAC SPONSOR / NEW INVESTORS /
SPAC PUBLIC SHAREHOLDERS
US$20-$30M
CAPITAL
RAISE
Current
Proforma
HITECH
MINERALS
INC.
(HiTech)
100%
8
De-SPACs
US$8.7B+
Total Transaction Value
US$180M
Capital Raised at
De-SPAC (PIPE5)
Proven Track Record in Critical Minerals De-SPAC Transactions
186
Deals Announced or
Closed Since Q1 2021
US$77.8B+
In Announced
M&A
US$26.1B+
In Financing
Transactions
Advised by Cohen & Company Capital Markets4
Leading De-SPAC5 and critical minerals advisor
Source: Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC (April 2026)
Deep Advisory Expertise Across US M&A and Financing Transactions
Illustrative Transaction Overview
Key Highlights
• HiTech Minerals Inc. (HiTech) equity valuation of US$500M1
• Transaction contemplates capital raise of US$20-30M, with US$4M to be
committed by Antarctica Capital (~US$1.5M funded on BCA signing)
• Target US$15M of net cash on the pro forma balance sheet after
transaction expenses
• Jindalee will roll over 100% of its equity in HiTech and own approximately
>80% of the combined entity US Elemental at closing
• Expected use of funds towards the development of the McDermitt Project
and transaction expenses
US$M
Pro Forma Shares Outstanding4 58.6
Share Price $10.0
Pro Forma Equity Value $586.2
(+) Debt $0.0
(-) Cash ($15.0)
Pro Forma Enterprise Value $571.2
Pro Forma Valuation2,3
Sources3 US$M
Jindalee Rollover Equity 500
Third-Party PIPE 21
Antarctica PIPE 4
Total Sources 525
Uses US$M
Equity to Jindalee 500
Cash to Balance Sheet 15
Transaction Expenses5 10
Total Uses 525
Jindalee Rollover Equity
Sponsor Shares4
Third-Party PIPE Shares6
Antarctica PIPE Shares7
1. Assumes purchase price on a cash-free, debt-free basis
2. Excludes the impact of 10.33M public warrants
3. Assumes 100% redemptions
4. Assumes 5,725,312 Founder Shares retained by the Sponsor
5. Reflects an estimate of transaction expenses; actual transaction
expenses may vary
6. Assumes a $21M third-party PIPE offered at a 15% discount to
the $10.00 per share De-SPAC entry price
7. Assumes a $4.05M Antarctica PIPE. Assumes the first $1.55M
of PIPE capital contributed will be funded at BCA signing,
convertible at $12.00 per share (shown on an as-converted
basis). Assumes the remaining $2.5M of PIPE capital
contributed will be offered pari-passu to the third party PIPE
(assumed at a 15% discount to the $10.00 per share De-SPAC
entry price)
85.3%
9.8%
4.2% 0.7%
Sources and Uses
Pro Forma Ownership at Closing2,3
6 Transaction Overview
Investor Presentation
Strategic Rationale
▪ Access deep US capital markets with proven appetite for critical minerals
‒ De-SPAC1 provides direct access to US institutional capital, where pre-development critical minerals transactions
have raised substantial capital (USA Rare Earth, MP Materials, Critical Metals Corp)
‒ McDermitt is one of the largest undeveloped lithium deposits in the US - a rare asset for investors seeking scale
exposure to domestic supply
▪ Accelerate funding for next phase of development
‒ Proceeds to fund infill drilling, advanced metallurgical optimisation and Feasibility Study
‒ NASDAQ listing creates a stronger platform to raise development capital as McDermitt progresses through
remaining phases
▪ Unlock unprecedented US Government support
‒ McDermitt is one of only 6 lithium projects with FAST-41 designation2 with Department of Energy (DOE) research
partnership already in place3
‒ ~US$11.8B in additional critical minerals funding available via the One Big Beautiful Bill4
▪ Jindalee shareholders retain upside
‒ Jindalee expected to hold >80% of US Elemental with majority board representation, preserving direct exposure
to McDermitt5
▪ Timing aligned with lithium market inflection
‒ Lithium entering its third major price cycle6 on strong structural demand and lagging supply response7, with Wall
Street re-rating lithium (UBS6, JPM, Deutsche Bank, Morgan Stanley all turned constructive8)
‒ Lithium demand now underpinned by multiple durable growth engines – battery energy storage systems (BESS),
EVs, and broader battery applications – with BESS demand alone projected to grow 55% in 20267
‒ Elevated oil prices from the Middle East conflict accelerating EV adoption globally, with new EV enquiries up 28%
since the onset of the crisis9
7 Transaction Strategic Rationale
Investor Presentation
Accelerating US Capital Flows into critical minerals
Positioning McDermitt at the centre of US
critical minerals capital and policy momentum
US Critical Minerals De-SPACs1: Capital Raise Track Record
VanEck Rare Earth and Strategic Metals ETF (REMX)
AVG Daily Trading Volume (K Shares)
0
500
1,000
1,500
2,000
2,500
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
Jul-25
Aug-25
Sep-25
Oct-25
Nov-25
Dec-25
Jan-26
Feb-26
US$50
US$200
US$10
US$30
US$1,700
US$1,449
US$108
USA Rare Earth MP Materials Critical Materials Eagle Energy Metals
Total Capital Raised at De-SPAC (M) Total Capital Raised Post De-SPAC (M)
De-SPAC Date: 13/03/2025 De-SPAC Date: 17/11/2020 De-SPAC Date: 27/02/2024 De-SPAC Date: 24/02/2026
Source: Public Filings, Pitchbook, SPAC Research; Data as of 1 April 2026.
(1) De-SPAC is the term given to the merger between a listed Special Purpose Acquisition Corporation (SPAC) and a target company to go public on US exchanges. The BCA outlined in this presentation is
considered a De-SPAC transaction
(2) JLL ASX release 22/04/2025 “McDermitt Project Fast-Tracked Under U.S. FAST-41 Initiative” and Federal Infrastructure Projects, accessed November 25, 2025: link
(3) JLL ASX release 16/09/2024 “JLL Secures Strategic Agreement with US Department of Energy”
(4) H.R.1 - One Big Beautiful Bill Act, viewed 27 August 2025.
(5) JLL ASX release 09/04/2026 “Jindalee Signs BCA to List McDermitt on NASDAQ”
(6) UBS Q-Series Research, "The Third Lithium Supercycle," February 5, 2026, reported by Yahoo Finance/Proactive: link
(7) Reuters / UBS / Guotai Junan Securities, "Energy Storage Boom Strengthens Demand Outlook for Beaten-Down Lithium," January 4, 2026: article link
(8) J.P. Morgan Research, "Energy Storage Demand to Pull Lithium Back Into Deficit," Nov 2025; UBS Q-Series Research, "The Third Lithium Supercycle," Feb 2026; Deutsche Bank upgrades
Albemarle/SQM to Buy, Jan 2026; Morgan Stanley Asia Pacific Materials Research (Rachel Zhang et al.), Dec 2025
(9) CNBC, "EV demand gets a boost from Iran war," April 2, 2026: article link
Source: FactSet data as of 28 February 2026
Executing the Transaction, Unlocking the Next Growth Cycle
8 Upcoming Catalysts
Investor Presentation
Key corporate and project catalysts through 2026 and beyond
De-SPAC
Transaction
McDermitt
Project
Future Growth
Pipeline
Q1 2026 Q2 2026 Q3 2026 Q4 2026
2027
onwards
Business Combination
Agreement
Transaction Execution
• Transaction Complete → US Elemental listed on NASDAQ
• Funding available to progress Feasibility Study
SK-1300 and Selection Studies
Commence opportunity assessment for future growth pipeline
Magnesium Testwork Results
Phase 1 Drilling Program: Infill,
Upgrade, Hydro, Geotech
Feasibility Study: Pilot scale testing, plan optimisation,
offtake agreements, community and tribal engagement
Build out Owners Team
Thank you
jindaleelithium.com
Ian Rodger
Managing Director & Chief Executive Officer
Further information
+61 8 9321 7550
enquiry@jindaleelithium.com
McDermitt - Empowering
American manufacturing
and energy security(1)
McDermitt is one of the largest lithium (and magnesium) deposits in the US and of
global significance. McDermitt is ideally situated to plug in to the growing US battery
manufacturing industry.
10 PFS Highlights
Investor Presentation
$3.23B(2)
Post Tax(3)
NPV (8%)
17.9%
Post Tax(3)
IRR
$3.02B
CAPEX Inc.
$495M contingency
$8,080/t LCE(2,6)
Bottom half
of cost curve(9)
47,500 tpa(4)
Lithium Carbonate
for first decade
+40 Years(5)
Economic Evaluation Period,
total project life of 63 years
5 Years
Project payback
from first production(1)
2.34 Mt LCE(6,7)
Ore Reserve
(~10% of Resource)
Robust returns
Forecast EBITDA margins of +60%, generating post-tax
FCF of $6.6B over the initial decade alone(3). Cash flows
resilient through price cycles with ~17% pre-tax net
operating cashflow margins (incl. sustaining capital) at
current spot prices.(8)
Perfect Timing
Targeted permitting and development timeline sees first
Lithium Carbonate production aligning with forecast
substantial supply deficits in the early 2030s.(9)
Made in the US
Tax credits provide a powerful stimulus for domestic
production of lithium chemicals. Battery value chain
customers also incentivised to source domestically from
projects such as McDermitt.
The Opportunity
McDermitt presents a rare opportunity for counter-cyclic
investors and partners looking to position in a commodity
poised for immense growth in the coming decade.
Magnesium emerging as potential gamechanger!
(1) JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate.” (PFS Announcement) (2) All $ values in USD unless otherwise noted. (3) At $24,000/t lithium carbonate price, post tax values include estimated value of 45X tax incentives
(refer to PFS Announcement). (4) First 10 years average post 12-month commissioning and ramp up. (5) PFS economic evaluation period consists of construction, commissioning and ramp-up, followed by first 40 full years of production (Economic Evaluation Period). (6)
Lithium Carbonate Equivalent, being the mass of lithium carbonate containing the same mass of lithium metal as the Ore Reserve. Unit operating cost quoted on C1 basis. (7) Maiden Probable Ore Reserve (JORC 2012) (refer to PFS Announcement). (8) US$10,866/t
from Shanghai Metal Markets Lithium Carbonate Index (Battery Grade), delivered to China, VAT inclusive. As at 8 October 2024. (9) Benchmark Mineral Intelligence Q3 2024 dataset.
Board and management team with proven
success in creating value for shareholders
11 Board & Management
Wayne Zekulich
Non-Executive Chair
Mr Wayne Zekulich was appointed to the Jindalee Board as Chair on 1 February 2024. Wayne is
a Consultant and Non-Executive Director who has substantial experience in advising, structuring
and financing transactions in the infrastructure and resources sectors. Wayne is currently Chair of
ASX listed gold miner Pantoro Limited (ASX:PNR).
Ian Rodger
Managing Director & Chief Executive Officer
Mr Ian Rodger is a mining executive with over 15 years of experience in technical, corporate
finance, and project leadership roles. He worked on two major greenfield mine developments at
Rio Tinto before transitioning to corporate finance at RFC Ambrian, where he held senior roles
in London and Sydney. As Project Director at Oz Minerals, he helped advance West Musgrave
Nickel Copper Project, leading into Oz Minerals’ A$9.6B acquisition by BHP.
Lindsay Dudfield
Executive Director
Mr Lindsay Dudfield is a geologist with over 40 years’ experience in multi-commodity
exploration. Lindsay has been responsible for managing Jindalee since inception, guiding the
Company through the advancement of several projects across various commodities and
jurisdictions. He is also a Non-Executive Director of several ASX listed mineral exploration
companies spun out of Jindalee.
Darren Wates
Non-Executive Director
Mr Darren Wates is a corporate lawyer with extensive experience in equity capital markets,
M&A, resources, project acquisitions / divestments and corporate. Darren was significantly
involved in the development, joint venture partnering and eventual sale of the Mt Marion Lithium
Project in roles with ASX listed company Neometals Ltd (ASX:NMT).
Paul Brown
Non-Executive Director
Mr Paul Brown has over 23 years’ experience in the mining industry, most recently with Mineral
Resources (ASX:MIN) where he was Chief Executive – Lithium. He has a strong track record in
project/studies management and mine planning and management. Paul is currently Managing
Director & Chief Executive Officer of Core Lithium Ltd (ASX:CXO).
Todd Clewett
Senior Advisor – External Affairs
Mr Todd Clewett is a senior executive with over 20 years’ experience in government relations,
external affairs, and strategic communications across the mining, energy, and infrastructure
sectors. He has held global leadership roles with Newmont, Fortescue, First Quantum, and Rio
Tinto, leading external engagement on major projects in the US, LATAM, Africa, and Asia.
Matt Haas
VP – Studies and Development
Matt is an international mining engineer with 20+ years’ experience across four continents. He
began with Newmont in Nevada and later supported major operations and expansions in Ghana.
He has since held senior study and technical roles with
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