Highlights from the first half of 2020

• Blackstone delivered a strong performance from our business activities during the first half of 2020, a profit of CHF 19’825’061 was recorded which equates to CHF 0.46 per share.
• During the first half of 2020 the sale of our licenses of rare earth in Norway has been concluded for CHF 22 million. There was strong interest from both Canadian and Australian investors.
• The transaction increased Blackstone’s equity (excluding non-controlling interests) from CHF 25 million to CHF 44.8 million, which equates a book value of CHF 1.05 per share.
• The price earning ratio (P/E ratio) is 3.4 times at the actual share price of CHF 1.58 (21.09.20), compared to other battery manufacturers (Umicore, CATL) having a P/E ratio between 44 to 100 times.

Battery technology

• During the first half of the year, a number of significant milestones were passed by Blackstone Technology GmbH, Germany.
• The world’s first functional battery cells with thick, printed electrodes, which have been successfully tested. This technology increases the energy density for common cathode chemistries by approximately 20%, saves 70% of CAPEX, 35% of OPEX and up to 35% material costs.
• Electrodes that use environmentally friendly, water-based binder systems. The production of these electrodes is completely free from pollutants and reduces production costs over the long term.
• The short-term goal of Blackstone Technology GmbH will be to print complete battery cells, including housings, at an extremely high speed.

Battery metals

• Blackstone received its technical NI 43 standard report for its Antiagasta Project in Chile, which represents a major milestone for its lithium exploration programme.
• The company sold its investment interest in rare earths in Norway for CHF 22 million. Blackstone will retain its mining concessions for past producing gold and silver mines and it has a buyback option for these invested interests in the future. The group also has a 2% royalty agreement in place until 2030
• First Cobalt, a company in which Blackstone Resources has a significant invested interest, announced positive feasibility study results for their cobalt refinery.

Outlook for the H2 2020 and beyond

• Interest in Blackstone’s proprietary and patented battery technology continues to rise worldwide. We expect to achieve a number of milestones for our battery technology business.
• We plan to apply the same printing techniques to the solid-state batteries this year.
• The long-term fundamentals that support the battery metal market will remain strong: Electric vehicle sales are expected to increase 30 times from their current level by 2030.
• The success of our lithium exploration project in Chile has been a great achievement in 2020. We expect in the second half of 2020 that we will commence feasibility studies prior to entering production.