AGM 2015 Presentation

AGM Management Presentation

June 18, 2015

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 31, 2015 on SEDAR.

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.

Annual and Special Meeting of Shareholders

2


TSX: ORT OTCQX: EORBF

This time last year...

We anticipated:

• Construction to start July 2014, plant

commercial Q1 2015

• Formalization commercial relationship

with waste monetization partner in H1

of 2015

• Commencement of engineering and

conversion HPA plant to 5tpd and

chloride process

• Name change effective end of

September 2014

3



What happened

Replace picture with decomposer being

dropped in or schematic cross

section

Started construction in July,

calcinator installation in

September

Identified defects with supplied

refractory materials

Supplier-based delay in shipping

replacement refractory materials

Identified design, capacity and

longevity issues with legacy plant

4



However, substantial progress was made

• Materially reengineered HPA1, led to

increased budget

• Identified and ordered new refractory

solution

• Progressed with non-calcination

system related elements of plant

• First commercial samples produced

and shipped (4N8)

• Raised funds at terms better than

Series Y through CREDE

5



Where we are today

Significant progress

towards

commercialization

Positioned well to

pursue waste

monetization initiative

• Near fully capitalized for plant completion

• Commercial in Q4 2015

• Engineering for 5tpd upgrade and

conversion to HCl process ongoing

• Obtained red mud related patents in

Canada and U.S.

• Waste monetization partnership

discussions ongoing with various parties

• TSX approved technology/industrial

listing

6



A look back before looking ahead

Why HPA1

• Opportunity: HPA selling at up

to $100,000 per tonne

• Technology: hydroxide process

more mature at that time than

chloride process

HPA1 in mid-2013

• $70 million invested

• A partially built plant

• That did not function as required

• Very limited remaining funds

• Refundable investment tax credits contingent

upon completion of the plant

7



Building a plant

• Capacity, longevity & design issues

required material redesign

• Redesign required removal of piping

and equipment from HPA1

• Reengineering a plant, like renovating

a house, generally more complex and

difficult than building from scratch

• Original budget was to finalize HPA1

as per original design + new

calcination system

8


Video

9


What is a refractory system

The Orbite calcination system converts

into

This step is effected at extremely high temperatures

Decomposer 800 oC

Calciner 1300 oC

Inside the system acidic environment

Refractory ensures the system

stands up to operating

conditions

10


Calcination system

Decomposer Calciner

11

Refractory Brick

Insulating

Refractory brick

Castables

Ceramic fiber blanket

Ceramic tube


Corrosion

• 18 tests of 72 hrs each

• 2 tests of 144 hrs each

Chemical

• Over 200 analytical tests:

X-ray diffraction (XRD),

Scanning Electron

Microscope (SEM), etc.

Thermo-mechanical

• CCS, MOR, MOE,

abrasion, TE, PLC, etc.

• Spalling: 7 tests, 72 hrs ,

each consisting of three 24-

hr thermal cycles

After Substantial change

Old

New

Old New

New

New

Old

Comprehensive testing program

Scale-up

Cold face

Hot face

After No change

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Before

Before


Complexity of refractory installation

Large-scale operation

• 200 tonnes of materials

• 60,000 bricks

• 4 layers

• Multi-step curing process

Equipment cannot impart

impurities on end product

• Precision required

• Longer curing of

replacement materials

Difficult working environment

13

TSX: ORT OTCQX: EORBF © Orbite – Confidential 14

TSX: ORT OTCQX: EORBF 15


Brick installation

16


Castable installation

17


The final touch

18


On the home stretch

In progress

• Completion calcination system

• Piping

• Mechanical

• Electrical & instrumentation

• Structural, buildings & foundations

• Ventilation & insulation

Final touches

• Operational readiness

Commissioning starting Q3 2015

Commercial production Q4 2015

Project on budget

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Looking forward - HPA

© Orbite

Positioning

• a reliable supplier of consistent

quality HPA (4N5 – 5N)*

Market dynamics

• new applications point to market

expansion beyond current

projections

• Sapphire screens for smart

phones, smart watches, etc.

• Separators for battery packs

Pricing

• $20,000 - $30,000 USD/tonne

*4N5 stands for 99.995% purity, 5N for 99.999%

17 340

21 240

25 360

30 360

34 390

2012 2013 2014 2015 2016

Global HPA Demand (tpa)

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Beyond HPA - Waste monetization

SIGN UP PARTNER

PLANT CONVERSION

TECHNICAL DEMONSTRATION

ENGINEERING BLUE PRINT

COMMERCIAL PROTOTYPE

LICENSING

21



Why waste monetization?

• Huge quantities of feedstock available

• Representing valuable asset for Orbite

(REEs, RMOs, Alumina, etc.)

• No mines to develop

• Already in industrial zone

• Transportation and energy infrastructure

in place

• Resource with negative value to current

owners

• Customer is right next door

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Fly ash: what’s in it for us

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Typical Content *

Typical

Pricing **

(US $/tonne)

Annual revenue

range

(US $ M)

Al2O3 15% - 30% 330 49.5 - 99.0

Fe2O3 15% - 25% 87 13.1 - 21.8

SiO2 30% - 60% 40 12.0 - 24.0

TiO2 2% - 5% 400 8.0 - 20.0

CaO 3% - 15% 170 5.1 - 25.5

NaOH 0% - 2% 400 0.0 - 8.0

Sc2O3 30 -100 ppm 1,500,000 45.0 - 150.0

Ga 30 - 75 ppm 225,000 6.8 - 16.9

REO's 400 - 800 ppm 30,000 12.0 - 24.0

Fly Ash represents

considerable value that only

Orbite can extract fully

Fly Ash Monetization - 1 Million tonne of Fly Ash/year plant

Average: 270.3

Indicative CapEx: $400 – 700M

* From internal analyses, ** See quarterly MD&A on Sedar for sources


Red Mud: what’s in it for us

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Typical Content*

Typical

Pricing **

(US $/tonne)

Annual revenue

range

(US $ M)

Al2O3 10% - 25% 330 33.0 - 82.5

Fe2O3 25% - 40% 87 21.8 - 34.8

SiO2 8% - 12% 40 3.2 - 4.8

TiO2 4% - 8% 400 16.0 - 32.0

CaO 1% - 3% 170 1.7 - 5.1

NaOH 4% - 8% 400 16.0 - 32.0

Sc2O3 20 -150 ppm 1,500,000 30.0 - 225.0

Ga 80 - 250 ppm 225,000 18.0 - 56.3

REO's 400 - 800 ppm 30,000 12.0 - 24.0

Selective extraction of all

valuable components turns

liabilities into significant assets

Red Mud Monetization - 1 Million tonne of Red Mud/year plant

Average: 324.1

Indicative CapEx: $500 – 800M

* From internal analyses, ** See quarterly MD&A on Sedar for sources


A very significant opportunity

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

>$455 billion Value in current red mud stock piles

Fly Ash

550 Mt*

produced annually

Red Mud

120 Mt**

produced annually

3 billion tonnes*** stored globally

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* World Coal Association, ** International Aluminium Institute, *** idem


0

2

4

6

8

10

12

Baseline Assumption Full Excavation All-Dry Systems


The current outlook for waste owners – a look at Duke Energy

© Orbite

The value of waste monetization

is not just in the asset but also

in the size of the potential liability

it turns into an asset.

Fined $110 Million $2.0B - $2.5B

$6.0B - $8.0B

$7.0B - $10.0B

~$0.5B

~$0.5B

$1.0B - $1.5B

$4.0B - $5.5B

$1.0B - $2.0B

Movement to full excavation and all dry handling

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Duke Energy estimates compliance

costs of $2-10 billion


First things first

Complete Construction

Complete Financing

Commissioning

Commence Commercial Production

Commercial Contracts

Revenues

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Let’s talk funding

Public via prospectus $16M

CED $4M

IQ $10M

Series X $10M

IQ bridge loan $3M

Bought deal + over allotment $15M

IQ bridge loan $5M

Surplus ITCs (2012,2013) $0.9M

Total $63.9M

Proven ability to

raise substantial

funds considering

pre-revenue status.

Improving terms

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Raised since December 2013


Funding sources

Non-dilutive

Future

• ITC backed debt

• Asset backed debt

• ITCs 2016-2017

• Selected for $4.5M non-dilutive SDTC

grant towards conversion front end HPA

plant to HCl process

Very close to

completing

plant funding.

Multiple options

under review

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Equity

• $15 million left on base-shelf prospectus


Conclusion

Not an easy year but

progressed significantly

All challenges encountered

were met

Reputation of TDC well

established with potential

partners

Interest from and traction

with multiple industry and

government parties

In good shape financially

and operationally

Positive about the future,

both near and long term

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AGM 2015 Presentation

Investor Relations

Transcript of AGM 2015 Presentation