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 o
C
Calciner 1300 o
C
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
12
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

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
19

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)
20

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
22

Fly ash: what’s in it for us
23
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
24
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
25
* 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
26
Duke Energy estimates compliance
costs of $2-10 billion

First things first
Complete Construction
Complete Financing
Commissioning
Commence Commercial Production
Commercial Contracts
Revenues
27

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
28
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
29
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
30

AGM 2015 Presentation

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