Presentation on theme: "TSX: ORT OTCQX: EORBF Corporate Presentation, April 2013 TSX: ORT OTCQX: EORBF Alumina and REO/RMO Production Using Our Innovative and Proprietary Processes."— Presentation transcript:
TSX: ORT OTCQX: EORBF Corporate Presentation, April 2013 TSX: ORT OTCQX: EORBF Alumina and REO/RMO Production Using Our Innovative and Proprietary Processes
TSX: ORT OTCQX: EORBF Forward Looking Statements Cautionary Note Regarding Canadian Mineral Disclosure Standards Certain information contained in this document may include “forward-looking statements”. Forward-looking statements may include statements regarding Orbite Aluminae Inc. (“Orbite” or the “Company”) intentions, beliefs or current expectations about its 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 are based on information available at the time and/or 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 22, 2012 on SEDAR,and in the section ‘’Risk Factors’’ of the Annual Information Form of March 30th, 2012 also filed on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake any obligation to update, or revise any forward-looking statements or other information contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws. The Revised Preliminary Economic Assessment (the “PEA”) on the Company’s Metallurgical Grade Alumina project (the “SGA Project” or “SGA Plant”) with an effective date of November 24, 2011 and a revised report date of May 30, 2012, is preliminary in nature and it includes Indicated Mineral Resources of aluminous clay that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral Resources that are not Mineral Reserves have not demonstrated economic viability. The Company is required to provide technical information with respect to mineralization on its Grand-Vallée property in accordance with Canadian standards which differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”), and resource information contained in this document, the PEA and other public disclosure documents filed by the Company on SEDAR may not be comparable to similar information disclosed by U.S. companies that are subject to the reporting and disclosure requirements of the SEC. This document and the PEA include references to mineral resource estimates that have been calculated in accordance with National Instrument Standards of Disclosure for Mineral Projects (“NI ”), as required by Canadian securities regulatory authorities. In particular, this document and the PEA use the terms “indicated mineral resources” and “inferred mineral resources.” Readers are cautioned that the term "resource" does not equate to the term "reserves". Further, the definitions of proven and probable reserves used in NI differ from the definition of “reserves” under U.S. standards. Under SEC standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Among other things, all necessary permits would be required to be in hand or issuance imminent in order to classify mineralized material as reserves under the SEC standards. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Readers are cautioned not to assume that all or any part of indicated or inferred mineral resources will ever be converted into reserves. The SEC's disclosure standards normally do not permit the inclusion of information concerning "indicated mineral resources" or "inferred mineral resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Readers should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimated “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Marc Filion, Eng., a Qualified Person, reviewed the technical information disclosed herein. Dr. Filion is a Consultant of Orbite, and as such, is not independent pursuant to NI For a detailed breakdown of the Company’s resource position and Preliminary Economic Assessment for the SGA plant see the ORT May 31, 2012 press release, available on the Company’s website. Orbite Aluminae Inc. 2
TSX: ORT OTCQX: EORBF Orbite Snapshot Orbite Aluminae Inc. 3 Orbite is a resource developer and a mineral processing technology company. Orbite has developed innovative proprietary processes for producing alumina and other high- value elements including rare earths and rare metals that differ from the rest of the industry. Orbite’s short-term priority is our high-purity alumina (HPA) plant: HPA samples are being shipped to clients. Operating at Phase I capacity of less than 1 tpd, increasing to 5 tpd by Q Orbite’s medium-term projects include: Building our first smelter-grade alumina (SGA) plant using clay from our 1 billion tonne deposit at Grande-Vallée. A Feasibility Study is anticipated in Q subject to concluding negotiations with a JV partner and securing sufficient funding. Building the world’s first red mud remediation (RMR) plant with Veolia Environmental Services as part of our exclusive worldwide agreement. Site selection is in progress. Veolia intends to build RMR plants worldwide under a technology license.
TSX: ORT OTCQX: EORBF Thinking Outside The Bauxite Orbite Aluminae Inc. TM 4 Orbite’s innovative and proprietary hydrochloric acid process can produce alumina and high-value by- products, including rare earths and rare metals, at one of the lowest costs in the industry using aluminous clay, bauxite, kaolin, nepheline, red mud and fly-ash. No wastes or tailings are produced since all constituent elements can be recovered and the acid is recovered and regenerated. Defies conventional mining approach which attempts to recover only a few valuable elements. Enabled by selective precipitation of the elements and recent advances in chemical process technology.
TSX: ORT OTCQX: EORBF Aluminous Clay, Red Mud and Other Feedstocks Alumina, iron, silica, titanium and magnesium are the most abundant rock-forming elements: Most common elements in our feedstocks and man-made wastes such as red mud and fly ash. Feedstock composition will determine the plant design and economics. Any rare earths & rare metals can be recovered as individually separated oxides. 5 5 Orbite Aluminae Inc. Plant DesignSGA PlantsRMR PlantsFAR Plants Feedstock(s)Aluminous ClayBauxiteKaolinNephelineRed Mud WasteFly Ash AbundanceUbiquitous Worldwide Tropical and Sub- Tropical Regions Only Specific Regions Worldwide Specific RegionsWaste Stockpiles Near Alumina Refineries Waste Stockpiles Near Coal Power Plants Alumina (Al 2 O 3) 18-25%40-60%18%-80%20-40%18-25%12-17% Hematite (Fe 2 O 3) 7-10%2-20%0-2%0-3%28-35%10-15% Silica (SiO 2) >50%1-7%10%-65%35-55%8-12%27-35% REO/RMO Potential Ga 2 O 3, Sc 2 O 3, REO Ga 2 O 3, Sc 2 O 3 Not Determined Ga 2 O 3, Sc 2 O 3 Not Determined Other Important By-products MgO, K 2 O, TiO 2 TiO 2 Not DeterminedK 2 O, Na 2 OTiO 2 Not Determined Note: Grade ranges and potential elements are only provided for general comparison between feedstocks and should not be relied upon as being representative or economic.
TSX: ORT OTCQX: EORBF Makes the 125-year old Bayer process obsolete while resolving critical industry issues: Can only use high-quality bauxiteAll bauxite can be used as a feedstock Facing rapid decline in bauxite qualityInexhaustible due to multiple abundant feedstocks Transport costs to smelters Plants can be built near aluminum smelters Produces >100M tpy red mud wasteGenerates no wastes or tailings 2 Red mud stockpiles >3B tonnesConverts red mud liabilities into assets Operating costs are risingOPEX at the bottom of industry cost curve Orbite Aluminae Inc. “The most promising hydrochemical method to process low grade bauxite ores is using hydrochloric acid. RUSAL is cooperating (1) with Orbite Aluminae in the field of hydrochloric acid process development and implementation in a large commercial scale” UC RUSAL Technical Report, ICSOBA, Brazil, October Comparison of acidic and alkaline technologies for producing alumina from low grade ores. (1)Orbite signed an MOU with UC RUSAL in March 2012 to become a potential JV partner in first SGA plant.. 2: RMR plants will return 10% of red mud volume as an inert and neutral residue Industry Standard Bayer ProcessOrbite’s Proprietary Technology Orbite is an Alumina Game Changer 6
TSX: ORT OTCQX: EORBF 2013 Business Strategy 1.High Purity Alumina (HPA) : Achieve commercial production at our first plant in Cap-Chat, Quebec Began shipping commercial samples in March Ongoing optimization, will increase production to 3 tpd in Q and to 5 tpd in Q Smelter-Grade Alumina (SGA) : Conclude JV agreement(s) for our first SGA plant Negotiating with UC RUSAL and other potential key JV partner. Feasibility Study and detailed engineering to be funded post-JV agreement. 3.Red Mud Remediation (RMR): Exclusive worldwide agreement with Veolia Environmental Services Veolia will determine site selection and optimal capacity for the world’s first RMR plant. Negotiate final agreement for the licensing/royalty structure and funding/ownership of first RMR plant. 7 Orbite Aluminae Inc. SGA Plants HPA Plants Aluminum Smelters Smelter-Grade Alumina (98.5%) High-Purity Alumina (4N-6N) Gallium, Scandium Fuel Cells, Alloys, Magnets, Aerospace, Automotive Silica, Hematite, Titanium, Scandium, Gallium, REE and Other Elements Silica, Hematite, Titanium, Scandium, Gallium, REE and Other Elements Potential Feedstocks: Aluminous Clay, Bauxite, Kaolin, Nepheline, Red Mud and Fly Ash Potential Feedstocks: Aluminous Clay, Bauxite, Kaolin, Nepheline, Red Mud and Fly Ash Veolia RMR Plants and Other Licensing Substrates for LED Lights & Displays, Semiconductors Substrates for LED Lights & Displays, Semiconductors Business Model: Three Principal Revenue Streams
TSX: ORT OTCQX: EORBF Quebec Alumina Market and Project Sites Quebec’s Gaspé region is strategically situated near 14 smelters 1, representing the world’s 3 rd largest aluminum producing region after China and Russia, importing up to 8M tonnes SGA per year. 1: Smelters: 9 Quebec, 2 New York and 3 Iceland. 2: See ORT May 31, 2012 press release for detailed breakdown. 3: See ORT Nov 14, 2012 press release for details. 100% of Grande-Vallée claims (34km 2 ) with a 1 billion tonne Indicated Resource 2. Received a 70 million tonnes 20 year renewable mining lease at Grande-Vallée, sufficient for operation of our first SGA plant. 100% of additional claims over 550km 2 (16x size of Grande- Vallée) along the same clay formation near Cap-Chat and Rimouski. Chaswood Option agreement 3 to earn 100% of claims (26km 2 ) along a kaolin formation near Halifax, Nova Scotia. 8 Orbite Aluminae Inc.
TSX: ORT OTCQX: EORBF HPA Plant: Optimization of Plant at Cap-Chat, Quebec HPA is primarily used to manufacture industrial sapphires which are used as substrates (heat-sinks) in LED lights and displays. The market is mainly for 99.99% (4N) to % (5N) purities. There are no spot prices. HPA plant began operating in Q1 2013: 4N HPA samples shipped in March 2013, optimizing towards 4N5 and 5N. Currently operating at Phase I production capacity of < 1 tpd. Phase II production capacity of 3 tpd in Q and 5 tpd in Q 2013 CAPEX estimate of $23M (1) for additional calcinator and related equipment to achieve Phase II Scandium and gallium recovery circuit will be commissioned in Q Orbite Aluminae Inc. (1)Total plant capex estimated at $55M net of RITCs (Refundable income tax credits are 40% of the first $75M and %5 thereafter). Mar. 2012Announces plan to convert SGA pilot plant into an HPA plant with 3 tpd capacity by the end of 2013 Nov 2012Announces planned expansion from 3 tpd to 5 tpd in H following installation of additional of equipment (calcinator(s)) in H Dec. 2012Initiates HPA plant commissioning activities Jan. 2013First tonne of 4N HPA produced Initiates HPA plant optimization activities Mar. 2013Begins shipping HPA samples to potential clients Accomplishments H1 2013Continue operating at less than 1 tpd Samples continue to be tested by customers mid-2013First contracts and sales with customers H2 2013Installation and commissioning of new calcinator(s) Q4 2013Capacity increases to 3 tonnes of HPA per day and declaration of commercial production Q1 2014Achieve run-rate capacity of 5 tonnes of HPA per day Upcoming Milestones 2013 CAPEX Estimate to complete 5 tpd plant: ~$23M
TSX: ORT OTCQX: EORBF SGA Plant: Negotiating with Potential JV Partners 10 Orbite Aluminae Inc. Sep. 2009Acquires Cap-Chat facility to house its pilot plant Jan. 2011SGA Pilot Plant begins initial testing Feb. 2011SGA Pilot Plant Produces 1st tonne of SGA Mar. 2012SGA Pilot Plant operations completed, signs MOU with UC RUSAL for potential JV partnership May 2012Files NI compliant PEA Technical Report June 2012MOU with NALCO to evaluate Orbite's technology Oct Modifies process design; expects at least 30% fossil fuel and 60% water consumption reduction 2013Selection of JV partner(s); ongoing discussions with various potential partners Q4 2013Selection of SGA plant site Q1 2014Completion of Feasibility Study 2014Initiate construction of SGA plant 2015Potential Phase I Initial Production AccomplishmentsUpcoming Milestones Funding will be determined with selection of JV Partner Orbite intends to build its first SGA plant in Quebec using clay from the Grande-Vallée deposit. Negotiations are advancing with UC RUSAL and other potential joint-venture partners: JV partner will provide funding into each phase of construction. Basic engineering design is already completed. Feasibility Study and detailed engineering will be funded post-JV Agreement. HPA plant acts as an SGA demonstration plant since both use the same proprietary processes.
TSX: ORT OTCQX: EORBF SGA Plant: Preliminary Economics Assessment 11 Orbite Aluminae Inc. Financial Results Sales$358M EBITDA $237M EBITDA margin66% Financial Performance NPV 10% $1,690M IRR48% Payback2.1 years PEA Financial Highlights using Low-Case Sensitivity Analysis (1) Capex requirements to be shared with JV partner(s) PEA was based on processing 2.5M tonnes per year of aluminous clay from Grande-Vallée deposit. Annual production of 540,000 tonnes smelter-grade alumina, 189,298 tonnes hematite, 1.2M tonnes silica, 49 tonnes scandium oxide, 75 tonnes gallium oxide, and 846 tonnes of heavy and light rare earth oxides. Financial HighlightsSales SegmentationCAPEX & OPEX Requirements Total CAPEX ~$500M Total Annual OPEX~$113M Per tonne SGA~$210 Per tonne by-products$0 Source: Per revised PEA dated May : Alumina $325 per tonne, hematite $125 per tonne, Silica $10 per tonne, REO/RMO average basket price $167 per kg.
TSX: ORT OTCQX: EORBF SGA Plant: Preliminary Economics Assessment 12 Orbite Aluminae Inc. Improvements and innovations announced since the PEA: Recoveries of 93.86% gallium, 93.11% scandium, and 87.47% yttrium, 90% for other rare earths Heavy rare earth and scandium oxides were produced in collaboration with CMI-UVK and MEAB Proprietary purification technology for silica to 99.9% (3N) and titanium oxide (TiO 2 ) to 95%. Reduction of water consumption by ~60% and fossil fuels consumption by ~30% Source: Per revised PEA dated May 2012
TSX: ORT OTCQX: EORBF SGA Plant: OPEX 1 versus Alumina Industry Cost Curve 3 1: See ORT May 31, 2012 press release for detailed breakdown of resource and PEA - Scenario 2. Operating costs of $113M divided by 539,711 tonnes. 2: Operating costs of $113M are reduced by low-case by-product revenues totalling $183M resulting in -$70M. 3: Industry cost curve, weighted average industry cost and 90 th percentile cost are all sourced from the RBC Capital Markets - Metal Prospects Report published April 17, 2013 SGA Opex 1 $210 / tonne SGA 2013 Alumina C1 Cash Costs 3 RBC Capital Markets, Brook Hunt 13 Orbite Aluminae Inc. SGA Opex 1 Net of By-Product Credits 2 -$129 / tonne SGA Alumina FOB Australia Spot Price ~$325 per tonne -$50 -$100 -$150
TSX: ORT OTCQX: EORBF 14 Orbite Aluminae Inc. RMR Plant: Veolia Environmental Services Agreement Red Mud Remediation (RMR) plants will operate using same processes as SGA plants: Red mud will be pre-treated to become a suitable feedstock. Plant design and optimal capacity will be influenced by the red mud composition. Inert residue of less than 10% the original red mud volume will be returned to the stockpile. Orbite signed exclusive worldwide agreement with Veolia Environmental Services for red mud remediation: Veolia is the only global integrated operator of waste management services across all segments (solid, liquid, non-hazardous and hazardous waste). Veolia intends to build Red Mud Remediation (RMR) plants worldwide under license. Veolia is working to identify the site and optimal capacity for the world’s first RMR plant. Construction is anticipated to begin in 2014, Orbite could be a JV partner. Jun. 2012Successful test results for proprietary processes in the remediation of red mud Feb. 2013Signs exclusive worldwide collaborative agreement with Veolia Environmental Services for treatment and remediation of red mud from stockpiles or from the effluent of existing alumina refineries Accomplishments Q4 2013Selection of plant site and capacity by Veolia, negotiate plant ownership and financing structure 2014Initiate plant construction 2015Potential Initial Production Upcoming Milestones Funding could be required for Engineering ($<5M)
TSX: ORT OTCQX: EORBF 15 Orbite Aluminae Inc. Value Creation Milestones Dec 2012 Q Q Q Q HPA Plant Commissioning Initiated HPA Plant Optimization Initiated Installation & Commissioning of New HPA Calcinator HPA Plant Full Capacity: 5 tpd SGA Plant Feasibility Study Orbite/JV SGA Plant Construction Initiated Veolia/Orbite RMR Plant Construction Initiated Orbite/JV SGA plant Potential Initial Production Veolia/Orbite RMR Plant Potential Initial Production 2015 HPA Plant Phase I: <1 tpd HPA Plant Phase II: 3 tpd HPA Plant Commercial Production Short-Term: Achieve Commercial Production at Cap-Chat HPA Plant Medium-Term: Construction of first SGA and RMR Plants Long-Term: Global roll-out of Veolia RMR Plants
TSX: ORT OTCQX: EORBF Closing Price per Share (ORT-T)$1.11 Basic Shares Outstanding184.1 Options - $1.44 WAP14.4 Warrants - Jul $4.35 WAP10.1 Convertible Debentures $3.50/share)7.1 Fully Diluted Shares Outstanding (M)215.7 Fully Diluted Market Cap.$239.5 Orbite Aluminae Inc. 16 Capital Structure and Balance Sheet (In C$ millions) Market Capitalization (April 19, 2013) Balance Sheet As at December 31, 2012 Current assets Cash and Short-Term Investments $ 40.5 Short-Term Receivables $ 7.4 Other Current Assets $ 0.5 $ 48.5 Non-current assets Refundable Investment Tax Credits $ 19.9 Property, Plant and Equipment $ 48.0 Patents and Exploration and Evaluation assets $ 15.9 $ 83.8 Total assets $ Current Liabilities Accounts Payable and Accrued Liabilities $ 28.6 Other Current Liabilities (derivative/non-cash) $ 4.9 Current portion of Long-term debt $ 0.6 $ 33.5 Non-current liabilities Convertible Debentures ($25M principal) $ 18.7 Long-Term Debt $ 2.5 Deferred Income and Mining Tax Liabilities $ 2.3 $ 23.4 Equity $ 75.4 Total liabilities and equity $ Year Share Price (C$) Volume (Million)
TSX: ORT OTCQX: EORBF Executive Office: 6505, route Transcanadienne, Suite 610 St-Laurent, Québec, Canada H4T 1S3 Tel: Fax: Key Orbite Contacts: Marc Johnson VP Corporate Development Tel: x131 Jacques Bédard VP Finance & Chief Financial Officer Tel: Investor Relations and Media Inquiries TM 17 Orbite Aluminae Inc. Orbite Stock Index Membership: S&P/TSX Global Mining S&P/TSX Global Base Metals S&P/TSX CleanTech Index S&P/TSX SmallCap Index Equity Research Analyst Coverage: Luisa Moreno – EuroPacific Phil Shen – Roth Capital Matt Gowing – Mackie Research Thinking Outside The Bauxite
TSX: ORT OTCQX: EORBF Appendix Orbite Aluminae Inc.
TSX: ORT OTCQX: EORBF Mr. Richard Boudreault, M.Eng, MBA, Adm.A Director, President and CEO Mr. Jacques Bédard, CPA/CGA VP Finance & CFO, Corporate Secretary Mr. Denis Primeau, Eng., MBA Chief Engineer Mr. Yves Noël, Eng., MBA Chief Marketing Officer Mr. Marc Johnson, CFA Vice President Corporate Development Mr. Guy-Louis Boucher LL.L. Vice-President Sustainable Development Mr. Jonathan Labranche LL.B. Director Legal and Corporate Affairs Dr. Marc Filion, PhD, Eng., MBA Strategic and Resources Advisor Mr. Pierre Després, B.A. LL.L Communications and Public Affairs Advisor Mr. Lionel Léveillé, Chairman of the Board of Directors Mr. Richard Boudreault, President and CEO Mr. Charles Chevrette LL.B. MBA. Dr. Toby Gilsig, Eng Mr. Stéphane Bertrand Mr. Pierre Meunier LL.L. Mr. Christian Van Houtte Mr. Michael Hanley, CPA/CA Mr. Jean‐Sébastien David, MPM, Geo. Management Team Board of Directors *See appendix for detailed biographies. 19 Orbite Aluminae Inc. Management Team and Board of Directors
TSX: ORT OTCQX: EORBF Mr. Richard Boudreault, M.Eng, MBA, Adm.A. Director, President and CEO Richard Boudreault has been President of Orbite since He has an impressive list of accomplishments with start-up and growth companies in the new materials sector. He has a Master of Engineering degree from Cornell University in the United States, and an MBA from University of Sherbrooke. Over the years he has worked in technology-related positions for numerous companies, such as SOFINOV (a subsidiary of the Caisse de dépôt et placement du Québec), Oerlikon Aerospace and the Canadian Space Agency. Mr. Jacques Bédard CPA, CGA Vice President of Finance & CFO, Corporate Secretary Jacques Bedard is a senior executive officer with more than 25 years of international financial management experience in the high technology, multimedia and medical devices sector. His résumé includes terms as vice president finance and CFO for companies such as Softimage and ART, and he has also held senior financial management positions with Microsoft, among others. He has been with Orbite since November 24, 2010, as vice president of finance and chief financial officer. His strong knowledge of public companies operating in high-growth and highly regulated environments will no doubt prove advantageous for Orbite's growth and development. Mr. Denis Primeau, Eng., MBA Chief Engineer Denis Primeau is a seasoned executive with more than twenty years’ experience in the chemical and petrochemical industries as well as other mining-related industries. In particular, Mr. Primeau was involved in the construction, commissioning and optimization of various types of chemical processes and, among others, was a key player for Rio Tinto during the construction and commissioning of a plant for the enrichment of minerals and in the recycling of hydrochloric-based materials. Member of the Ordre des ingénieurs du Québec, he holds a bachelor of science in chemical engineering and a master of business administration (MBA) from University of Sherbrooke. Mr. Yves Noël, Eng., MBA, Chief Marketing Officer Yves Noël is a senior executive with over twenty years’ sales and marketing experience in the field of high value-added, specialized fine chemicals, particularly high purity products, with companies such as Akzo Nobel, Sandoz and Clariant. His diverse background in mining and manufacturing industries has enabled him to cultivate exceptional expertise and success in negotiating trade agreements with major clients such as AbitibiBowater, Gildan, Dow, and Rio Tinto, as well as with various global distribution partners. Member of the Ordre des ingénieurs du Québec, he holds a bachelor of applied science in chemical engineering and a master of business administration (MBA) from the Université du Québec à Montréal. Mr. Marc Johnson, CFA, Vice-President Corporate Development Marc Johnson brings over 15 years of experience in equity research, investment banking, and business management in the natural resources and technology sectors. Most recently he was a Mining Analyst at M Partners, an Investment Bank, where he followed Orbite for more than two years. As Vice President Corporate Development, he will be responsible for implementing a cohesive strategy and managing relationships with institutional investors. Mr. Johnson holds a bachelor of commerce degree from Concordia University and the Chartered Financial Analyst designation. 20 Orbite Aluminae Inc. Management Biographies
TSX: ORT OTCQX: EORBF Mr. Guy-Louis Boucher, LL.L Vice-President Sustainable Development Guy Boucher is a senior executive with extensive experience in legal affairs and sustainable development, particularly within the natural resources domain. Prior to joining Orbite, Mr. Boucher spent a number of years with Domtar in top executive positions that included Vice-President, Sustainable Development and Vice-President, Legal Services and Environmental Affairs. As such, he was responsible for sustainability issues as well as many legal aspects of the company’s commercial activities. Mr. Boucher holds a license in civil law (LL.L.) from the Barreau du Québec and a Bachelor of Business Administration (B.B.A.) from the University of Ottawa. Mr. Jonathan Labranche, LL.B Director Legal and Corporate Affairs Jonathan Labranche was called to the Bar of the Province of Quebec in 2000 and holds a Bachelor of Law degree from the Université de Montréal. Having built an impressive practice in corporate law, securities, and regulatory affairs, he has represented a range of large businesses at various stages of their development, providing consulting services in financing, mergers and acquisitions, and investor relations, to name just a few. As Director, Legal and Corporate Affairs with Orbite, Mr. Labranche will act as an advisor to the management team and will handle all legal issues for the company, including the analysis of industry regulations applicable to the Company. Dr. Marc Filion, PhD, MBA, Eng. Strategic and Resources Advisor Dr. Filion is a geologist, was president and chief operating officer of SGF Mineral Inc. from 1998 to 2004, and senior vice president, Investments for Mines, Minerals and Materials for "Societe Generale de Financement du Quebec" (SGF) from 2004 to He was also actively involved in promoting the development, financing and construction of Phase II of the Alouette aluminum smelter, and brings in-depth knowledge of the alumina/aluminum industry to Orbite as Chairman of the Alouette BOD. Mr. Filion holds a B.Sc. in geology from Ecole Polytechnique at the University of Montreal, a Ph.D. in economic geology and geostatistics from the Royal School of Mines, Imperial College, London, England, and an MBA from Ecole des Hautes Études Commerciales in Montreal, Quebec. Mr. Pierre Després, B.A., LL.L Communications and Public Affairs Advisor Pierre Despres will focus on advising Orbite on public affairs issues while enhancing the Company's presence in the community and reputation among key business and community leaders, decisions makers and stakeholders. Over the years, Mr. Despres has garnered extensive executive and consulting experience with leading Canadian firms as well as globally as vice-president, communications, Alcoa Global Primary Products. He is very active in the business community and has been a member of various boards of directors of business associations such as the Conseil du Patronat du Québec and the Fédération des chambres de commerce du Québec. 21 Orbite Aluminae Inc. Management Biographies (cont’d)
TSX: ORT OTCQX: EORBF Mr. Lionel Léveillé, (Candiac, Quebec) Chairman of the Board of Directors Lionel Léveillé was President and CEO of the company Adacel Inc. from February 2001 to July Adacel is active in the field of aerial navigation control simulation. He has enjoyed an illustrious career in the military and aerospace industry, having been President of Raytheon Canada and Vice-President of Bombardier and of Oerlikon Aerospace. Mr. Richard Boudreault, M.Eng, MBA, Adm.A. (St-Laurent, Quebec) Director, President and CEO Richard Boudreau has been President of Orbite since He has an impressive list of accomplishments with start-up and growth companies in the new materials sector. He has a Master of Engineering degree from prestigious Cornell University in the United States, and an MBA from Université de Sherbrooke. Over the years he has worked in technology-related positions with numerous companies, such as SOFINOV (a subsidiary of the Caisse de dépôt et placement du Québec), Oerlikon Aerospace and the Canadian Space Agency. Mr. Charles Chevrette LL.B., MBA, (Montréal, Québec) Director Charles Chevrette is a lawyer and member of the Quebec Bar. He also has an MBA from the University of Ottawa. Mr. Chevrette is the managing partner of Montreal office of McMillan LLP. Over the years, he has worked on numerous corporate financings, mergers-acquisitions and transfers of technology, acting for private companies, institutional investors and university entities. More specifically, he has been involved in several industrial-technology enhancement projects. Dr. Toby Gilsig, (Montreal, Quebec) Director Toby Gilsig has a degree in electrical engineering from McGill University and a doctorate from the Imperial College of the University of London, where he received an Athlone research grant. He is a member of the Quebec Order of Engineers, an honorary member of the IEEE and a Fellow of the Canadian Academy of Engineering, in addition to having received the Manning Award for Innovation in Dr. Gilsig is consulted regularly on the subject of technological products and enterprise strategies as part of the activities of JED International Inc., the company he founded in Previously, he was CEO of M3i Systems Inc., which he co-founded in December Before co-founding M3i, Dr. Gilsig held a number of management posts at Hydro-Québec, including Vice-President of Research and Director of the Institut de recherche d’Hydro-Québec. Mr. Stéphane Bertrand, (Montreal, Quebec) Director Stéphane Bertrand assumed the role of Chief Executive Officer for the World Energy Congress – Montreal 2010 in November Between 2003 and 2007, Mr. Bertrand was the Chief of Staff of the Premier of Québec. His professional responsibilities included close involvement in the development of Quebec’s budget and governmental policies. Prior to his role as Chief of Staff, Mr. Bertrand was an executive with Gaz Métro Inc.. 22 Orbite Aluminae Inc. Directors Biographies
TSX: ORT OTCQX: EORBF Mr. Pierre Meunier LL.L., (Montreal, Quebec) Director Pierre Meunier, a lawyer called to the Bar in 1967, is a Partner and Strategic Consultant at Fasken Martineau S.E.N.C.R.L., s.r.l. He joined the firm in 1989 after having filled several important posts at the Government of Quebec. In particular, he was Vice-President and founder of the Commission des services juridiques, Director of the Centre communautaire d'aide juridique de Montréal, President of the Office de la protection du consommateur, acting Deputy Minister for the Ministry of Housing and Consumer Protection, and acting Deputy Minister for the Ministère de l'Environnement. Mr. Meunier is Chairman of the Board of Directors of the Fondation des Muséums nature de Montréal, member of the Board of Directors of the Institut de recherche en biologie végétale (IRBV), part of the Université de Montréal, and member of the Board of Directors and Treasurer of Éditions Protégez- Vous. Mr. Christian Van Houtte, (Montreal, Quebec) Director Christian Van Houtte was until recently the President and Chief Executive Officer of the Aluminum Association of Canada, which represents Canadian aluminum producers, a position which he held for 18 years. He previously held various executive positions in the aluminum industry, including that of senior vice-president of the Bécancour Smelter (ABI) facility. He has also held senior management positions for a number of major organizations, including Canadair, the Cliche Commission, Northern Telecom and the Société de développement de la Baie James. Mr. Michael Hanley, CA, (Montreal, Quebec) Director Mr. Hanley is a Chartered Accountant since 1987 with many years' experience in corporate governance. Between 2009 and 2011, he was Senior Vice‐President, Operations and Strategy Initiatives and a member of the Office of the President at National Bank of Canada. Prior to this, he spent ten years with Alcan in positions that included, among others, President and CEO of the global Bauxite and Alumina business group and Executive Vice‐President and Chief Financial Officer leading up to and at the time of the acquisition by Rio Tinto. Mr. Hanley holds a Bachelor of Business Administration. Mr. Jean‐Sébastien David, MPM, Geo., (Chicoutimi, Quebec) Director Mr. David is a member of the Ordre des géologues du Quebec and has more than 20 years‘ experience in geology, sustainable development, and the environment. He has been a member of environmental committees for both the Association minière du Québec and the Association de l'exploration minière du Québec. From 2007 to 2011, he was Vice‐President of the Osisko Mining Corporation and sat on its management committee. He also has a number of achievements at many other organizations, including Cambior IAMGOLD, and Louisiana‐Pacific Canada, where he held key management and environmental positions. Mr. David holds a Bachelor of Geology degree and a Master's degree in project management. 23 Orbite Aluminae Inc. Directors Biographies (cont’d)
TSX: ORT OTCQX: EORBF 1)Processes for extracting aluminum from aluminous ores. Patent protection granted in USA 1, Canada 2, Australia 3, Russia 4 and China 5. Additional patents pending in EU, Japan, India, Hong Kong, Australia, USA, Brazil, China, Russia. 2)Processes for extracting aluminum from aluminous ores 6. 3)Processes for extracting rare earth elements from aluminum-bearing materials 6. 4)Processes for extracting rare earth elements from various ores 6. 5)Methods for preparing hematite 6. 6)Methods for separating iron ions from aluminous ions 6. 7)Processes for preparing alumina and various other products 6. 8)Processes for treating Red Mud 6. 9)Processes for treating Fly Ash 6. 10)Processes for recovering rare earth elements from various materials 6. 11)Processes for preparing titanium oxide and various other products 6. 12)Processes for recovering rare earth elements and rare metals 6. 13)Processes for treating various materials 6. 14)Processes for purifying aluminum ions 6. Note: An IP Family consists of a multiple claims covering various aspects of the processes or methods involved. Successive IP Families cover improvements and innovations. 1: USA 7,837,961, 8,241,594 and 8,337,789. 2: Canada 2,684,696 and 2,711,013. 3: Australia and : Russia : China : These IP families have been filed under the international PCT process administered by WIPO which takes approximately 30 months to complete prior to filing in individual countries at the “national phase”. 24 Orbite Aluminae Inc. IP Families: Internationally Patented and Patent Pending
TSX: ORT OTCQX: EORBF Grande-Vallée claims host an NI compliant 1.04 billion tonnes Indicated Resource grading 23.37% Al 2 O 3, 52.62% SiO 2, 8.42% Fe 2 O 3 and 563ppm TREO+RMO 2 from surface to a depth of 100m. (1)BCC Research AVM018G, Rare Earths: Worldwide Markets, Applications, Technologies, Jan Orbite Aluminae Inc. Aluminous clay is homogeneous throughout the deposit Would ranked 11th worldwide for REE in-situ value (1) Would ranked Top 10 worldwide for heavy REE content at 22.4% Received 70 million tonne 20- year renewable mining lease Signed agreement with the Micmac First Nation in support of development Grande-Vallée Claims
TSX: ORT OTCQX: EORBF Grande-Vallée NI Compliant 1.04B tonnes Indicated Resource (1) SiO 2 (Silica)52.62%Ga 2 O 3 (Galium)43 ppm Al 2 O 3 (Alumina)23.37%Sc 2 O 3 (Scandium)28 ppm Fe 2 O 3 (Hematite)8.42%Y 2 O 3 (Yttrium)49 ppm CaO (Calcium)0.48%La 2 O 3 (Lanthanum)76 ppm MgO (Magnesium)1.64%Ce 2 O 3 (Cerium)152 ppm Na 2 O (Sodium)1.06%Pr 2 O 3 (Praseodymium)19 ppm K 2 O (Potassium)2.86%Nd 2 O 3 (Neodymium)71 ppm MnO (Manganese)0.16%Sm 2 O 3 (Samarium)11 ppm Cr 2 O 3 (Chromium)0.01%Eu 2 O 3 (Europium)2 ppm TiO 2 (Titanium)0.85%Gd 2 O 3 (Gadolinium)13 ppm P 2 O 5 (Phosphate)0.14%Tb 2 O 3 (Terbium)1.5 ppm SrO (Strontium)0.02%Dy 2 O 3 (Dysprosium)9 ppm BaO (Barium)0.05%Other Contained REO88 ppm V 2 O 5 (Vanadium)0.03%Total RM & REO563 ppm H 2 O (LOI)6.50%Other Elements1.79% Notes: Content in oxide form. CIM definitions were followed for mineral resources. Effective date is Nov 23, Assumes a cutoff of 18% Al2O3 and a density of 2.6g/cm3. Amounts may not add due to rounding. Mineral resources have no demonstrated economic viability. There is no certainty that all or part of the mineral resources will be converted to reserves. (1)Refer to ORT May 31, 2012 press release for detailed breakdown of resource estimate. 26 Orbite Aluminae Inc. Grande-Vallée Resource Estimate
TSX: ORT OTCQX: EORBF 27 Orbite Aluminae Inc. Rimouski/Cap-Chat claims totalling 550 km 2 - or - approximately 16x the size of Grande-Vallée’s 34 km These claims are along the same aluminous clay formation as at Grande-Vallée Greenfield drilling program will begin in Q with the potential to define several new deposits Rimouski and Cap-Chat Claims