A-CAP ENERGY LIMITED

ASX: ACB

An Australian resources company listed on the Australian Securities Exchange (ASX:ACB), our diversified minerals strategy is focussed on the exploration and acquisition of nickel cobalt projects to supply cathode materials to the global EV battery industry and developing the base load Letlhakane uranium energy resource project in Botswana.

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Diversified Minerals Strategy

The Board’s diversified minerals strategy is focussed on the significant growth expectation in the supply of battery materials to the OEM automotive and battery industries. The Wilconi Project represents the Company’s first nickel-cobalt laterite project interest. The Company is committed to becoming a relevant supplier to the OEM automotive and battery industries.

The Company aims to establish key strategic and commercial relationships to take advantage of new materials processing and refinery technologies, particularly in production of cobalt and nickel sulphates products used directly in battery manufacture.

LETLHAKANE URANIUM PROJECT

One of the world’s largest (global top 10) undeveloped uranium deposits located in Botswana. A 22-year mining licence was granted on 12 September 2016 on the back of a technical study and financial modelling based on a shallow open pit mining and a 2-stage heap leach processing to produce up to 3.75Mlb U308 over an 18-year mine life. The technical study confirmed that the Project has the right mix of a good resource, low capital and operating costs and is well positioned to be taken into production in line with forecast rising uranium prices. The Botswana Department of Environmental Affairs approved A-Cap’s Environmental Impact Statement on 13 May 2016, with provisional surface rights granted on 6 June 2016.

A-Cap is currently progressing project optimisation activities to improve recovered uranium grade and reduce U308 process costs, focussing on acid supply and consumption.