PMET Resources (PMET) Investor Update summary

Project highlights and resource update

• Announced a maiden resource estimate for a significant cesium discovery at the Corvette (Shawiniwan) Project, with 2.4 million tons at 2.3% cesium and a high-grade subset of 160,000 tons at 10.5% cesium in the Rigel zone.

• The project is located in Quebec, a top-tier mining jurisdiction with strong infrastructure and positive First Nations engagement.

• Corvette (Shawiniwan) hosts large-scale lithium, cesium, and tantalum resources, all with above-average grades.

Market outlook and strategic positioning

• Cesium's future demand is expected to surge due to its role in next-generation perovskite solar panels, potentially increasing global demand 10–20x.

• The project could shift the global cesium supply balance, reducing reliance on China and supporting Western supply chains.

• Downstream industry players have already shown interest in engaging with the project.

Processing, economics, and development plans

• Cesium extraction from pollucite is relatively straightforward and can be integrated with existing ore sorting technology.

• Most cesium is traded as high-value chemicals like cesium carbonate, currently priced around $120,000/ton.

• The lithium feasibility study remains focused on CV5, with CV13 (cesium-rich) development 18–24 months behind but being accelerated as a bolt-on opportunity.