Lifezone Metals Announces Publication of H1 2023 Financial Results and Shareholder Letter
September 20 2023 - 6:05AM
Lifezone Metals Limited (“Lifezone Metals” or the “Company”) (NYSE:
LZM), a modern metals company creating value across the battery
metals supply chain from mine to metals production and recycling,
announced today that it has published the Company’s first half 2023
financial results in a Form 6-K and an accompanying Shareholder
Letter.
Highlights to-date in 2023, as expanded upon in detail in the
Shareholder Letter, include:
- Lifezone Metals’ public listing on the New York Stock Exchange
(NYSE) as LZM, creating the first pure-play NYSE publicly traded
nickel resource and cleaner technology company
- Completion of a second investment by BHP of $50 million,
enabling continued progress at the Kabanga Nickel (“Kabanga”)
project site in North-west Tanzania and on key study areas
- Progress on Kabanga DFS and resource definition activities,
building on years of studies and 621 kilometres of historical
resource drilling, and further defining the Kabanga resource as the
Company works towards an updated S-K 1300
- Updated Kabanga metallurgical test work results, which indicate
Kabanga nickel concentrate is amenable to processing using Lifezone
Metals’ Hydromet Technology, and is integral to the Kabanga-Kahama
nickel refinery flow sheet
- Headway on Kabanga site operations, early works and site
access, with simultaneous critical path activities including
expanded camp and internal roads upgrades enabling drilling and
land surveys
- Key achievements in the areas of Kabanga external affairs,
sustainability and permitting, with a comprehensive program in
place comprised of an operating team of 100+ actively focused on
community engagement, environment, Corporate Social Responsibility
(CSR) and social performance
- Acquisition of Simulus Laboratories, expanding capabilities for
Lifezone Metals’ growth strategy beyond Kabanga
- Formal commencement of off-take marketing of Kabanga nickel
cathode, creating an off-take monetization opportunity for the
nickel, copper and cobalt production from Kabanga given the
interest in these products from original equipment
manufacturers
- Evolved Hydromet opportunities beyond Kabanga, entering into a
Memorandum of Understanding (MoU) with a global platinum group
metals (PGM) customer for a commercial scale PGM recycling
facility
Keith Liddell, Founder & Chair of Lifezone Metals, said: “We
are excited to share our first ever Shareholder Letter. As we are
new to the public market, our first instalment of this
communication will both introduce Lifezone Metals to those who are
new to our story and present a detailed overview on what we believe
are the key accomplishments for our Company so far in 2023.”
The documents can be accessed via the links below:
- Shareholder Letter
- Financials
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About Lifezone Metals
Lifezone Metals (NYSE: LZM) is a modern metals company
creating value across the battery metals supply chain from resource
to metals production and recycling. Our mission is to provide
commercial access to proprietary technology and cleaner metals
production through a scalable platform underpinned by our tailored
Hydromet Technology. This technology has the potential to be a
cleaner and lower cost alternative to smelting, allowing us to
responsibly and cost-effectively provide cleaner metals.
By pairing the Kabanga Nickel project in Tanzania, which we
believe is one of the largest and highest-grade undeveloped nickel
sulphide deposits in the world, with our proprietary Hydromet
Technology, we will work to unlock the value of a key new source of
supply to global battery metals markets. We have a long-standing
partnership with BHP on the Kabanga Nickel project, with BHP having
invested USD100 million, as we work to empower Tanzania to achieve
full value creation in-country and become the next premier source
of nickel.
www.lifezonemetals.com
Forward-Looking Statements
Certain statements made herein are not historical facts but may
be considered “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), Section 21E of the Securities Exchange Act of
1934, as amended and the “safe harbor” provisions under the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook” or the negatives of these terms
or variations of them or similar terminology or expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding future
events, the business combination between GoGreen Investments
Corporation (“GoGreen”) and Lifezone Holdings Limited (“LHL”) that
formed Lifezone Metals, the estimated or anticipated future results
of Lifezone Metals, future opportunities for Lifezone Metals,
including the efficacy of Lifezone Metals’ hydromet technology
(“Hydromet Technology”) and the development of, and processing of
mineral resources at, the Kabanga Project, and other statements
that are not historical facts.
These statements are based on the current expectations of
Lifezone Metals’ management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on, by any investor as a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Lifezone Metals.
These statements are subject to a number of risks and uncertainties
regarding Lifezone Metals’ business, and actual results may differ
materially. These risks and uncertainties include, but are not
limited to: general economic, political and business conditions,
including but not limited to the economic and operational
disruptions and other effects of the COVID-19 pandemic; the outcome
of any legal proceedings that may be instituted against the
Lifezone Metals in connection with the business combination;
failure to realize the anticipated benefits of the business
combination, including difficulty in integrating the businesses of
LHL and GoGreen; the risks related to the rollout of Lifezone
Metals’ business, the efficacy of the Hydromet Technology, and the
timing of expected business milestones; Lifezone Metals’
development of, and processing of mineral resources at, the Kabanga
Project; the effects of competition on Lifezone Metals’ business;
the ability of Lifezone Metals to execute its growth strategy,
manage growth profitably and retain its key employees; the ability
of Lifezone Metals to maintain the listing of its securities on a
U.S. national securities exchange; costs related to the business
combination; and other risks that will be detailed from time to
time in filings with the U.S. Securities and Exchange Commission
(the “SEC”). The foregoing list of risk factors is not exhaustive.
There may be additional risks that Lifezone Metals presently does
not know or that Lifezone Metals currently believes are immaterial
that could also cause actual results to differ from those contained
in forward-looking statements. In addition, forward-looking
statements provide Lifezone Metals’ expectations, plans or
forecasts of future events and views as of the date of this
communication. Lifezone Metals anticipates that subsequent events
and developments will cause Lifezone Metals’ assessments to change.
However, while Lifezone Metals may elect to update these
forward-looking statements in the future, Lifezone Metals
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Lifezone Metals’ assessments as of any date subsequent
to the date of this communication. Accordingly, undue reliance
should not be placed upon the forward-looking statements. Nothing
herein should be regarded as a representation by any person that
the forward-looking statements set forth herein will be achieved or
that any of the contemplated results in such forward-looking
statements will be achieved. You should not place undue reliance on
forward-looking statements in this communication, which speak only
as of the date they are made and are qualified in their entirety by
reference to the cautionary statements herein.
Certain statements made herein include references to “clean” or
“green” metals, methods of production of such metals, energy or the
future in general. Such references relate to environmental benefits
such as lower green-house gas (“GHG”) emissions and energy
consumption involved in the production of metals using the Hydromet
Technology relative to the use of traditional methods of production
and the use of metals such as nickel in the batteries used in
electric vehicles. While studies by third parties (commissioned by
Lifezone Metals) have shown that the Hydromet Technology, under
certain conditions, results in lower GHG emissions and lower
consumption of electricity compared to smelting with respect to
refining platinum group metals, no active refinery currently
licenses Lifezone Metals’ Hydromet Technology. Accordingly,
Lifezone Metals’ Hydromet Technology and the resultant metals may
not achieve the environmental benefits to the extent Lifezone
Metals expects or at all. Any overstatement of the environmental
benefits in this regard may have adverse implications for Lifezone
Metals and its stakeholders.
- Lifezone Metals Announces Publication of H1 2023 Financial
Results and Shareholder Letter
Natasha Liddell
Chief Sustainability & Communications Officer, Lifezone Metals
natasha.liddell@lifezonemetals.com
Ingo Hofmaier
Chief financial Officer, Lifezone Metals
ingo.hofmaier@lifezonemetals.com
ICR, Inc.
Investor Relations, ICR, Inc.
+1 (646) 200 8879
LifezoneMetalsIR@icrinc.com
Bronwyn Wallace
US Media Enquiries, H+K Strategies
+1 (713) 724 3627
Bronwyn.Wallace@hkstrategies.com
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