Establishing Ontario's First Regional Lithium Battery Materials Refinery In Thunder Bay

Creating A Supply Chain to Serve the Needs of Battery & Ceramic Manufacturers

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Message: Reply to my e-mail asking why the Updated Feasibility was not released in 2014

Avalon is planning to release an updated Feasibility Study on the Nechalacho Project, however you are correct in that the timeline has been extended. We have been investigating alternative locations for the hydrometallurgical plant and once this location is selected, an optimized Feasibility Study can be completed. We are currently looking primarily at options in Saskatchewan and Alberta.

The Nechalacho Project continues to be the most advanced heavy rare earth project outside of China and a high priority for Avalon. As you are likely aware, in March of last year, we entered into a strategic refining agreement with Solvay for our rare earth concentrate. In late 2013, Avalon received approval for its Nechalacho Project Environmental Assessment and we have been progressing with the applications for the remaining operating permits and licences, expected this year. Avalon continued optimization work on the hydrometallurgical process flowsheet during 2014, with encouraging results in terms of improved heavy rare earth recoveries. A final pilot plant trial of the entire optimized process flowsheet, for which a bulk sample was collected in 2014, is also contemplated for 2015, subject to financing. The Solvay agreement and optimized hydrometallurgical process, along with the new hydrometallurgical plant location, will all be incorporated into the updated Feasibility Study.

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