Nordic Mining Asa · OSL:NOM
Nordic Mining Asa — Q4 2024 Earnings Presentation
24 slides from Nordic Mining Asa's earnings presentation, Feb 11, 2025
Slide 1: Minerals for a Sustainable Future: Q4 2024 Interim Presentation
MINERALS FOR A SUSTAINABLE FUTURE Q4 2024 Interim presentation February 11th, 2025
Slide 2: Contents and Disclaimer
CONTENTS •DISCLAIMER Introduction 4 By Ivar Fossum This document has been used by Nordic Mining during an oral • Engebø Rutile and Garnet 10 presentation. Therefore, this document is incomplete without the Byexplanations, oral Kenneth Nakken Angedal and supporting instruments that comments were subm
Slide 3: Agenda
1. Introduction 2. Engebø Rutile and Garnet 3. Kvinnherad Quartz 4. Financial update Q4-2024 5. Q & A
Slide 4: Highlights
Highlights • No Lost Time Injuries (LTI) in the 4th quarter Safety & • Engebø construction completed without LTIs ESG • Overall safety management transferred to NM • First mineral concentrate produced in Q4 Production • Adjustment of process and operations learning ongoing Ramp-up • First shipment t
Slide 5: Health and safety in focus
Health and safety in focus • Engebø construction phase completed to date without lost time injuries reported by the EPCs. • Minor incident 7th January in relation to testing of drying machines in the Engebø dry plant. No injuries and limited equipment damage due to the incident, which was restricted
Slide 6: Introduction
1. Introduction 2. Engebø Rutile and Garnet 3. Kvinnherad Quartz 4. Financial update Q4-2024 5. Q & A 6
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Slide 8: Construction phase completed
Construction phase completed • The main construction activities at Engebø were completed during the fourth quarter. Only minor balance of plant items remains to be complete. • Remaining activities have no impact to the ramp-up. • A small project team will focus on verification of as-built drawings a
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Slide 12: ty NORDIC : ,
ty NORDIC : , mininc 2
Slide 13: Mining operations supporting process plant ramp-up
Mining operations supporting process plant ramp-up Mining activities are ramped up • Mining activities with all primary machinery at site and staff onboarded. • Waste rock deposit in operation according to permit. • Ore feed to plant according to requirement from process plant ramp-up. Process plant
Slide 14: Production to ramp-up during 2025
Production to ramp-up during 2025 Mineral production volumes Targeting annual production rate end of 2025 235 kt • Production is ramping up over the next quarters. • Focus on maintaining quality of the mineral concentrates. 35 kt • Updated ramp-up plans defers revenue streams compared Q1 Q2 Q3 Q4 20
Slide 15: Cautious market outlook for 2025
Cautious market outlook for 2025 Ti metal • The demand for aircraft worldwide is strong and is growing resulting in steady demand for titanium sponge. • Titanium sponge producers are reporting production levels at full capacity. TiO2 Pigment • Declining pigment market in Q4 o conflicts in Ukraine an
Slide 16: Rutile prices start to recover in 2025
Rutile prices start to recover in 2025 Rutile: • As from Q3 2023, rutile prices have been weakening due to the weakness in the pigment segment. • Rutile prices seem to have stabilized and are expected to strengthen in 2025, driven by the improved market conditions in the pigment and metal sectors. •
Slide 17: Kvinnherad Quartz
1. Introduction 2. Engebø Rutile and Garnet 3. Kvinnherad Quartz 4. Financial update Q4-2024 5. Q & A 17
Slide 18: Promising results from preliminary test work
Promising results from preliminary test work Transport of equipment Drilling & Blasting Loading for transport Processing - Washing Melting test – Clear quartz sample • Fieldwork successfully completed in November extracting 10 tons of ore for processing test work, which includes analysis of quality
Slide 19: Financial update Q4-2024
1. Introduction 2. Engebø Rutile and Garnet 3. Kvinnherad quartz 4. Financial update Q4-2024 5. Q & A 19
Slide 20: Entering 2025 with solid cash position
Entering 2025 with solid cash position Cash flow in the quarter (mNOK) • NOK 142 million from investing activity and NOK 35 million interest payment on USD 100 million bond. 700 • Positive operating activity due to reimbursement of VAT in the quarter. 22 600 599 • Cash effect on foreign exchange on
Slide 21: Financial results impacted by currency fluctuation
Financial results impacted by currency fluctuation Group Cash level Profit flow in and Loss(mNOK) the quarter (mNOK) • Loss on foreign exchange related to the bond and the royalty liability of NOK 135 million. • Other foreign exchange gain related to bank Q4 2024 Q3 2024 FY 2024 FY 2023 accounts of
Slide 22: Q&A
1. Introduction 2. Engebø Rutile and Garnet 3. Kvinnherad quartz 4. Financial update Q4-2024 5. Q & A 22
Slide 23: Highlights and Q&A
No Lost Time Injuries (LTI) in the 4th quarter Engebg@ construction completed without LTIs Overall safety management transferred to NM wu Production First mineral concentrate produced in Q4 ===] R Adjustment of process and operations learning ongoing amp-up First shipment targeted for Q1 2025 a Fi —
Slide 24: Consolidated statement of financial position
Appendix Consolidated statement of financial position NOK million Q4 2024 Q3 2024 2023 • Engebø construction works of NOK 139 million capitalized on balance sheet in Q4 2024, down from NOK 278 million in Q3 2024. Mine under construction 2 654 2 516 1 377 Property, plant and equipment 97 80 3 Right-o