With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
RODINIA LITHIUM TO PARTICIPATE IN PDAC 2012 (BOOTH #2527)
Toronto, Canada, February 29, 2012: Rodinia Lithium Inc. (“Rodinia” or the “Company”) (TSX-V: RM; OTCQX: RDNAF)will be exhibiting at this year’s Prospectors and Developers Association of Canada (“PDAC”) Investors Exchange taking place at the Metro Toronto Convention Centre, South Building, from Sunday, March 4th to Wednesday, March 7th, 2012.
The team from Rodinia, including Will Randall, President & CEO, Aaron Wolfe, VP Corporate Development, and representatives from Investor Cubed Inc., Rodinia’s investor relations team, will be available to speak to shareholders and interested investors about the Company’s developments at its flagship Salar de Diablillos lithium-potash-brine project, in Salta Province, Argentina. In particular, we will be available to discuss the results of a robust Preliminary Economic Assessment (“PEA”) filed for the project in December 2011. The PEA outlines an operation producing 15,000 tonnes per year of battery grade lithium carbonate, projecting a 34% internal rate of return (“IRR”) and a $561 million net present value (“NPV”) at an 8% discount rate. The PEA also outlines Rodinia’s option to produce 25,000 tonnes per year of battery grade lithium carbonate, which generates a much higher NPV of almost $1 billion, along with a higher IRR of 36%. Rodinia is expected to benefit from the ability to produce salable co-products of potash and boric acid, which when factored into the lithium production results in negative cash costs for the overall operation.
Exhibit Location & Hours Rodinia will be located at booth #2527 on level 800 of the Metro Toronto Convention Centre, South Building:
Sunday Monday Tuesday Wednesday
March 4 March 5 March 6 March 7
10:00 am – 5:30 pm 10:00 am – 5:30 pm 10:00 am – 5:30 pm 9:00 am – 12:00 pm
The Metro Toronto Convention Centre, South Building, is located at 222 Bremner Boulevard in Toronto. For additional information and to register for the conference, please visitwww.pdac.ca.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia’s Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium, as set out in the Company’s NI 43-101 compliant technical report entitled “Salar de Diablillos Project, Salta Province, Argentina, NI 43-101 Technical Report on Brine Resource Estimate” dated May 3, 2011 and filed on SEDAR. Throughout 2012, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through Feasibility Study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada’s lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia’s Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.