Northern Minerals Limited · ASX:NTU
Northern Minerals — Investor Presentation (July 2024)
30 slides from Northern Minerals's investor presentation, Jul 8, 2024
Slide 1: Company Presentation
For personal use only Company Presentation Creating value and contributing to a cleaner earth 08 JULY 2024 ASX:NTU
Slide 2: Important Information
Important Information This presentation (“Presentation”) is dated 8 July 2024 and has been prepared by Northern Minerals Limited (ACN 119 Effect of rounding 966 353) (“NTU”, “Northern Minerals” or the “Company”). By attending a presentation or briefing, or accepting, accessing or reviewing this Pres
Slide 3: Company Introduction
Company Introduction A HIGH-GRADE HEAVY RARE EARTHS DEPOSIT, EXPANSIVE EXPLORATION POTENTIAL AND AN EXPERIENCED TEAM DRIVING BROWNS RANGE TO OPERATION 1 For personal use only BROWNS RANGE HEAVY RARE EARTHS (HRE) PROJECT $0.034 Browns Range is the most advanced HRE project globally2 Share price3
Slide 4: Supplying a Sustainable Future
Supplying a Sustainable Future DYSPROSIUM (Dy) AND TERBIUM (Tb) ARE KEY INPUTS TO HIGH For personal use only PERFORMANCE MAGNETS HIGH PERFORMANCE MAGNETS ARE CRITICAL COMPONENTS OF ELECTRIC VEHICLES, WIND TURBINES, DEFENCE APPLICATIONS AND BROADER CLEAN ENERGY TECHNOLOGIES Company Presentation | Jul
Slide 5: Rare Earth Basket
Rare Earth Basket BROWNS RANGE HAS THE POTENTIAL TO BE THE LARGEST SOURCE OF Dy AND Tb OUTSIDE OF CHINA For personal use only 2 2,3 Heavy Rare Earth (Dy & Tb) assemblage by volume Rare earth assemblage basket value High Dy/Tb Concentration: Browns US$/kg Range has a rare earths assemblage of 10% 5
Slide 6: Board and Management
Board and Management FOCUSSED ON EXECUTING FID AND DEVELOPMENT STRATEGY ADAM HANDLEY Executive Chairman ANGELA GLOVER Chief Operations Officer For personal use only • Past President of the Australia China Business Council, specialising in • 20+ years’ experience in the resources and infrastructure i
Slide 7: ESG Goals & Objectives
ESG Goals & Objectives ESTABLISHED COMMUNITY ENGAGEMENT, ONGOING ENVIRONMENTAL MONITORING AND MANAGEMENT, PLANNING FOR SUSTAINABLE DEVELOPMENT AND REPORTING For personal use only Continuous All site activities improvement of Ongoing environmental Extensive environmental Pursuing a hybrid undertaken
Slide 8: Browns Range HRE Project
Browns Range HRE Project UNDERPINNED BY THE WOLVERINE DEPOSIT, THE HIGHEST KNOWN GRADE Dy AND Tb DEPOSIT 1 For personal use only High Value • Mining and processing at site to produce c. 25% Concentrate TREO concentrate rich in heavy rare earths Exploration • Recent drilling results confirm deposit i
Slide 9: DFS Update
DFS1 Update PRODUCTION OF Dy/Tb-RICH CONCENTRATE INCORPORATING LESSONS LEARNT FROM PILOT PLANT For personal use only Conventional open pit mining followed by underground mining using sublevel caving Established flowsheet informed by comprehensive metallurgical testwork and three-year pilot plant ope
Slide 10: Resource Definition Drilling
Resource Definition Drilling EXCEPTIONALLY HIGH-GRADE ASSAYS RETURNED OVER WIDE MINERALISED INTERVALS 1,2 For personal use only In May 2024, 16,586m (42 holes) of drilling completed at Wolverine Nominal 25 m grid spacing Average depth of 486 m Program designed to improve the Inferred Resourc
Slide 11: Proposed Funding Pathway
Proposed Funding Pathway PROGRESSING TOWARDS SECURING AN OPTIMAL FUNDING STRUCTURE For personal use only Potential Project Funding Sources Recent Funding Progress • Discussions underway with NAIF Debt Equity Other and EFA • Previously fulfilled the strategic EFA / NAIF1 Iluka Resources Other assessm
Slide 12: Iluka Resources Partnership
Iluka Resources Partnership BROWNS RANGE FURTHER STRENGTHENED BY LONG-TERM SUPPLY AND FUNDING ARRANGEMENTS WITH DOMESTIC PARTNER ILUKA RESOURCES For personal use only Indicative illustration of price received by Northern Minerals Supply of up to 5.5 kt contained TREO in for TREO contained in conce
Slide 13: Significant Tenure Holdings
Significant Tenure Holdings For personal use only Company Presentation | July 2024 13
Slide 14: Exploration Potential
Exploration Potential STRONG PIPELINE OF DEFINED MINERAL RESOURCES 1 AND PROSPECTS TO SUPPORT For personal use only POTENTIAL MINERAL RESOURCE EXPANSION Northern Minerals assets are centred on the Browns Range Dome, a major geological structure of ~1,500 km2 traversing the WA/NT border Highly pr
Slide 15: Pathway to Production
Pathway to Production ACHIEVING KEY MILESTONES AND MAINTAINING MOMENTUM TOWARDS FID 1 For personal use only Iluka Resources Mineral Resource Exceptional assay DFS updates incl. strategic Definition Drilling results from Drilling Ore Reserve Targeted Targeted Mining partnership Program commenced Prog
Slide 16: Key Company Highlights
Key Company Highlights UNIQUELY PLACED TO BECOME A SIGNIFICANT SUPPLIER OF HEAVY RARE EARTHS ALONGSIDE AN EXTENSIVE EXPLORATION PORTFOLIO For personal use only Globally significant Strategic partnership with Accelerated pathway to high-grade Dysprosium (Dy) Iluka Resources establishing a production
Slide 17: Our Office
OUR OFFICE For personal use only Northern Minerals Limited Ground Floor, 40 Kings Park Road West Perth, Western Australia, 6005 Australia VISIT US ONLINE www.northernminerals.com.au LinkedIn: Northern-Minerals X: NorthernMins CONTACT US Phone: + 61 8 9481 2344 invest@northernminerals.com.au info@nor
Slide 18: Appendix
For personal use only Appendix 18
Slide 19: Wolverine Deposit
Wolverine For personal use only Deposit NEAR-TERM DEVELOPMENT WITH A CLEAR PATHWAY TO PRODUCTION 19
Slide 20: Wolverine Resource
Wolverine Resource WOLVERINE UNDERPINS THE INITIAL LIFE OF MINE, WITH CONSIDERABLE OPPORTUNITY TO DEVELOP NEARBY RARE EARTH DEPOSITS For personal use only Current Resource Estimate Wolverine Deposit Expansion JORC-compliant Mineral Resource estimate1 kt 80 1.2% Ore TREO4 Dy Tb TREO4 Mt % kg/t kg/t t
Slide 21: Geology
Geology ROBUST GEOLOGICAL DATA SUPPORTED BY EXTENSIVE DRILLING EFFORTS OF > 160,000 METERS 1 For personal use only • Wolverine is the largest deposit discovered to date within the Browns Range system, with the dominant mineralisation being xenotime hosted within an extensive structurally controlled
Slide 22: Strategic Advantage
Strategic For personal use only Advantage ADVANCING A WORLD-CLASS HEAVY RARE EARTHS DEPOSIT TO PRODUCTION
Slide 23: Rare Earths Market Opportunity
Rare Earths Market Opportunity COMPELLING MARKET OPPORTUNITY DRIVEN BY PUSH FOR GLOBAL DECARBONISATION AND ELECTRIFICATION For personal use only Dy and Tb oxide historical and forecast demand2 kt 10 • Dy and Tb enable Neodymium-Iron-Boron (NdFeB) magnet 9 Others performance at high temperature 8 7 W
Slide 24: Rare Earths Pricing
Rare Earths Pricing STRONG MARKET FUNDAMENTALS SUPPORT EXPECTATIONS OF LONG-TERM INCREASE IN Dy/Tb PRICES FROM CURRENT LEVELS For personal use only • Prices expected to continue to improve from recent lows: increasing Dy and Tb oxide historical prices4 demand from EV and wind power applications is c
Slide 25: Rare Earth Elements at Wolverine
Rare Earth Elements at Wolverine Dy/Tb ACCOUNTS FOR >70% OF THE RARE EARTH BASKET VALUE AT WOLVERINE MAKING NORTHERN MINERALS HIGHLY LEVERAGED TO Dy/Tb PRICE INCREASES For personal use only Product REO distribution1 REO contribution to basket value2 1) Based on October 2022 Wolverine JORC compliant
Slide 26: Diversifying the Global Magnet Value Chain
Diversifying the Global Magnet Value Chain CHINA DOMINATES THE VALUE CHAIN, OPPORTUNITY TO SUPPLY CRITICAL FEEDSTOCK FOR DOWNSTREAM PROCESSING OF Dy AND Tb IN AUSTRALIA For personal use only CRACKING & MAGNET MINING BENEFICIATION REFINING METALLISATION MANUFACTURING LEACHING MAKING China 67% U.S.
Slide 27: Strong Government Sector Support
Strong Government Sector Support NORTHERN MINERALS IS WELL POSITIONED TO ACCESS GOVERNMENT FUNDING For personal use only The critical minerals and rare earth industries are perfect examples of sectors that will be crucial to our future…The Government has backed the Browns Range Heavy Rare Earths Pro
Slide 28: Other Detailed Information
For personal use only Other Detailed Information 28
Slide 29: Mineral Resource
Mineral Resource GLOBAL MINERAL RESOURCE BROWNS RANGE HEAVY RARE EARTHS ESTIMATE (OCTOBER 2022) 1,2 PROJECT OVERVIEW For personal use only TREO Dy2O3 Y2O3 Tb4O7 HREO TREO Deposit Classification Mt % kg/t kg/t kg/t % kg • The Project is located in the East Kimberley region of Western Australia, Measu
Slide 30: Source Documents
Source Documents PEER COMPARISON REFERENCE DETAILS Development TREO Dy/Tb:TREO For personal use only Project Company Category Source Stage Grade ratio Measured and 10 October 2022: ASX Announcement – “Updated Wolverine Browns Range Northern Minerals Ltd (ASX:NTU) Feasibility Study 0.76% 10.01% Indic
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