23 Nov

iTech Minerals 2021 AGM Chairmans Address

www.itechminerals.com.au ASX RELEASE 2 3 Novem ber 2021 BOARD & MANAGEMENT Glenn Davis - Chair Michael Schwarz - MD Gary Ferris - NED Jarek Kopias - Co Sec CAPITAL STRUCTURE Ordinary Shares Issued 96.1 M Options Issued 3.0 M CONTACT Address: Level 3, 63 Pirie Street ADELAIDE SA 5000 Email: info@itechminerals.com.au Website: www.itechminerals.com.au Telephone: +61 2 5850 0000 2021 AGM CHAIRMAN’S ADDRESS Summary: iTech Minerals Ltd (ASX: ITM , iTech or Company ) is pleased to provide the 2021 AGM Chairman’s Address . F or further information please contact the authorising officer Michael Schwarz: Michael Schwarz , FAusIMM, AIG Managing Director E: mschwarz@itechminerals.com.au Ph: +61 2 5850 0000 W: www.itechminerals.com.au www.itechminerals.com.au ASX RELEAS E CHAIRMAN’S ADDRESS As you know iTech recently completed a $7m capital raise and ASX listing, both of which were very successful. The capital raising was heavily over - subscribed and the company listed at a healthy premium to the issue price. Pleasingly, that support has continued with shares trading, at close yesterd ay, at 27 cents per share. That tells us we have a story and prospectivity for commodities the market is keenly interested in. Despite COP26 falling a little flat of expectations the imperative to decarbonise the globe will continue and will continue to gather pace. That of course means the commodities we are chasing are in demand: - graphite, in the form of spherical graphite, for use in batteries; and - kaolin and halloysite, again, for use in batteries. Beyond new energy applications kaolin and halloysite also have wide industrial applications in the potential to supply high value alumina feedstock, biomedical applications, ceramics, nanotechnology and other uses. And now with the kaolin - halloysite dep osits there may be potential for rare earth elements that are used widely in new energy and a myriad of other applications that we need to investigate further. As the International Energy Agency’s 2021 World Energy Outlook refers, demand for these types o f minerals as we undertake the energy transition could grow by as much as 10 to 30 times by 2040 depending on which pathway the world takes. In short though, whatever the commodity in our sights, the demand dynamics are positive. But of course, demand is only one side of the equation. The supply side requires us to successfully unlock the prospectivity of the 7,000 km 2 in tenure we hold. The early advantage of course is the previous work done by Archer across the tenements including a JORC 2012 graphite m ineral resource and mining lease. That graphite resource is at the Campoona Project on Eyre Peninsula. Our work there requires us to further test and develop the concept of production of spherical graphite and we have already taken our first steps which M ike will discuss in a moment. In chasing kaolin, halloysite and rare earths we have good prospects both on Eyre Peninsula northwest of Lucky Bay and in the Nackara Arc not that far east of Jamestown. These areas have been very lightly explored and furthe r work is needed. That is why, as Mike will explain in a moment, we have notices of entry out on Eyre Peninsula to drill as soon as harvest is complete and in the Nackara Arc to drill as soon as all approvals are received. Work to optimise those drill loc ations is currently being undertaken and we look forward to being on the ground drilling very soon. And the even better news – this drilling is only to 30 metres, is done from a light vehicle mounted air core drill, extensive coverage of acreage can be do ne cost effectively and results from drilling can be known relatively quickly. With the demand for these commodities on the rise and drilling very close, we are obviously excited to see what results are delivered as we look to unlock the supply side for k aolin, halloysite and rare earths. www.itechminerals.com.au ASX RELEAS E We of course have other project areas in gold and other minerals as we outlined in the prospectus, but our primary short term focus is to progress our Eyre Peninsula and Nackara Arc kaolin and halloysite exploration as well as the Campoona graphite project. So the journey begins. To take us on that journey we have an experienced and focussed team led by Mike. The commencement of that journey required a lot of hard work from a lot of people who I would li ke to thank: - Mike and Gary, my fellow directors; - Jarek our Company Secretary and CFO; - the team at Novus Capital; - the team at Archer; - our independent geologist Ian Warland; - our investigating accountants Grant Thornton; and - most importantly you our sharehold ers. We thank you for your support. With that , ladies and gentlemen, I will move into the formalities of the AGM. Glenn Davis Chairman iTech Minerals Ltd
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from iTech Minerals Ltd (ASX:ITM) when you join Listcorp.