Greenland Resources Inc. · TSX:MOLY
Greenland Resources — EIT Raw Materials event, Brussels, 15-17 May 2023
32 slides from Greenland Resources's conference presentation, May 17, 2023
Slide 1: Greenland Molybdenum Project – Securing reliable molybdenum supply for the EU Green Deal
15-17 May 2023, Brussels, Belgium "Greenland Molybdenum Project – Securing reliable high quality molybdenum supply for the EU Green Deal from a responsible EU associate source” www.greenlandresources.ca
Slide 2: We know responsible mining can significantly improve peoples' lives
We know responsible mining can significantly improve peoples’ lives Page 1 of 31
Slide 3: Company Highlights
COMPANY HIGHLIGHTS q World Class Climax-type pure molybdenum deposit in East Greenland q Cross cutting critical Mineral - World Bank; IEA; Natural Resources Canada q Supported by EIT Raw Materials / ERMA - EU Body supports strategic mining projects for EU Green Deal q NI 43-101 Feasibility Study – T
Slide 4: Attractive Mining Jurisdiction
ATTRACTIVE MINING JURISDICTION ü Autonomous country within the Kingdom of Denmark (AAA S&P credit rating) ü Ranked Greenland as Global #1 in “Current Malmbjerg (2,150 Km) Mineral Potential Index” ü Member of the European Raw Material Alliance ü State-of-the-art University and School of Mining Highla
Slide 5: Molybdenum: Market Statistics
MOLYBDENUM: MARKET STATISTICS MOLYBDENUM USES REGIONAL PRODUCTION Nickel Alloys Tool Steels 3% Million pounds of Molybdenum Content 8% Mo-Metal 2022 Region 6% Engineering Production Use Foundries Steel North America 112 90 38% 8% South America 167 15 Europe * - 124 Chemicals China 248 269 12% Total
Slide 6: Western Production Has Been Systematically Falling
WESTERN PRODUCTION HAS BEEN SYSTEMATICALLY FALLING Annual Production Growth of the Key Western Moly Producers Selected Western Mo Producers 2019 2020 2021 2022 2022 2022 Production Producer YoY % YoY % YoY % YoY % mlbs Comments Freeport McMoRan (USA, Peru) -5.3 -15.5 11.8 0.0 85.0 11% below 2017 lev
Slide 7: Molybdenum Price Evolution (2006-2023)
MOLYBDENUM PRICE EVOLUTION (2006-2023) Molybdenum $/lb Malmbjerg cash cost US$6.38/lb Mo Page 6 of 31
Slide 8: Molybdenum: Green
MOLYBDENUM: GREEN ü Green Energy transition to increase global demand of molybdenum (i.e., technology, mining equipment) TOTAL MOLYBDENUM DEMAND BY ENERGY ü Government infrastructure-projects aiming to promote economic growth will use molybdenum TECHNOLOGY THROUGH 2050 UNDER 2DS(1) ü World Bank (202
Slide 9: Comparables Mineral Reserves Grade (% Mo)
COMPARABLES MINERAL RESERVES GRADE (% Mo) 0.18% 0.16% 0.14% The main source of emissions and energy consumption in ore processing is the number of beneficiation cycles 0.12% that becomes less the higher the ore grade Grade (% Mo) 0.10% 0.08% 0.06% 0.04% 0.02% 0.00% Ca an * * qu n * En g im e * nd je
Slide 10: Environmentally Friendly Operation
PROCESSING FLOWSHEET ü Malmbjerg has the potential to become the most environmentally friendly source of molybdenum in Mined Ore the world Crushing FRIENDLY OPERATION ü Processing produces nearly no deleterious elements Grinding ENVIRONMENTALLY into the water environment and tailings Flotation ü Hau
Slide 11: EIA / SIA Impact Assessments (WSP Copenhagen, 2023)
EIA / SIA IMPACT ASSESSMENTS (WSP Copenhagen, 2023) q 16 out of 19 environmental impacts analyzed are assessed to be low or very low and 3 medium q All 3 environmental risks due to accidents and natural disasters including TMF disposal to sea are assessed to be low q High positive social impact on d
Slide 12: Circular Economy
Rope Conveyor 🇦🇹 (Austria) US$200M, 180 indirect jobs Molybdenum 🇬🇱 processed / sold: ü Ropes 3,400 tons / 130 km + Belting 2,900 tons / ü 🇪🇺 Molymet (Belgium), Climax (UK) in order to 43,5 km sourced from: ContiTech (Germany); produce RMC, FeMo, PurOx, etc. Phoenix CBS (Germany); Sidewall…
Slide 13: Feasibility Study Highlights
FEASIBILITY STUDY HIGHLIGHTS q Initial Capex US$820M q Mineral Reserves 245 Mt ; 0.176% MoS2 av. grade containing 571Mlb of Mo metal q Production years 1-10 of 32.8 Mlb per year of Mo metal av grade 0.23% MoS2 q Production 20 year LOM of 24.1 Mlb per year, throughput of 35,000 t/d, strip ratio 0.8 t
Slide 14: Mine Plan
MINE PLAN (NI 43-101 Feasibility Study Malmbjerg, February 2022) q Open pit mine with the primary crusher onsite; ore transport by 26km aerial rope conveyor with no CO2 generation; processing on landed barges (no greenfield development) at Mestersvig Inlet, a natural deep draft harbor where process
Slide 15: OPEX and CAPEX
OPEX and CAPEX (NI 43-101 Feasibility Study Malmbjerg, February 2022) CAPEX US$820 MILLION AVERAGE LOM OPEX US$6.38/lb Mo Page 14 of 31
Slide 16: NPV & IRR Sensitivity
NPV & IRR SENSITIVITY (NI 43-101 Feasibility Study Malmbjerg, February 2022) After Tax Sensitivity NPV6% and IRR to changes in US$ Mo Prices for Base Case After Tax Sensitivity NPV6% and IRR to changes in US$ Mo Prices for Levered Case NPV@ 6% IRR Spot Mo NPV@ 6% IRR (02/22/22) 30.9% 2,500 29.3% Spo
Slide 17: Cashflow
CASHFLOW (NI 43-101 Feasibility Study Malmbjerg, February 2022 @ US$18/lb Mo) After Tax Cashflow and Cumulative Cashflow on Base Case After Tax Cashflow and Cumulative Cashflow on Levered Case Pro Pro 400 3,000 300 265 3,000 306 244 271 2,500 217 2,500 300 234 223 212 225 234 238 233 178 174 179 184
Slide 18: The Molybdenum Refinement Chain & GHG Footprint
sion factor when producing these raw materials are THE MOLYBDENUM REFINEMENT CHAIN & GHG FOOTPRINT assumed to be the same in all cases (see ESM-Tables 3 and 4). Other than the concentration of molybdenum, the chemical compositions of other components in the raw concentrate are described in online so
Slide 19: Europe's Steel Industry Needs Molybdenum
EUROPE’S STEEL INDUSTRY NEEDS MOLYBDENUM q High-performance & special steel grades: q Specific Molybdenum benefits in steel: ü Rely on alloying with group IV-VI metals (￬) ü Increases hardenability ü Molybdenum has largest variety of metallurgical benefits ü Adds to strength ü It also boosts the eff
Slide 20: Wind Power: Moly's Home Base Is the Nacelle
WIND POWER: MOLY’S HOME BASE IS THE NACELLE q Drive train ü Rotor (low-speed) shaft: weight 5 – 20 t, 42CrMo4 (0.2-0.3% Mo). ü Main gearbox: weight 30 – 60 t, 18CrNiMo7-6 (0.2-0.5% Mo). ü Intermediate & high-speed shafts: 5 – 20 t, QT steels (~0.2% Mo) Machine carrier ü Bearing rings: 42CrMo4 (0.2-0
Slide 21: Moly Metal in Back Electrodes of Thin Film Solar Cells
in a layer approximately 500–1000 nm in 2011. Depending on the growth of e (billionths of a meter) thick (Figure 3). demand for TFPV, consumption in 2020 e: MOLY METAL IN BACK ELECTRODES OF THIN FILM SOLAR CELLS It is deposited using sputtering, where high-energy inert gas plasma ejects, is estimate
Slide 22: Moly in Corrosion-Resistant Alloys
MOLY IN CORROSION-RESISTANT ALLOYS Solar thermal parabolic trough Solar thermal central tower Geothermal q Molten salt serves as heat transfer and storage medium in CSP plants q Steels 316L and 347H (≤2 %Mo) are typically used for piping and storage tanks q Alloy 625 (8-10 %Mo) and Alloy C-276 (15-1
Slide 23: Renaissance of Nuclear Power? Yes, With Moly
RENAISSANCE OF NUCLEAR POWER? YES, WITH MOLY Design evolution of nuclear reactor vessels q Molybdenum content in typical reactor pressure vessel steels: ü Min.: 0.30 %Mo ü Max.: 0.80 %Mo q Only few types of steels are certified for RPV components. q Nuclear industry codes require very expensive test
Slide 24: The Relevance of Moly in Power Generation Technologies
THE RELEVANCE OF MOLY IN POWER GENERATION TECHNOLOGIES Not so many people talk about it but… Annual consumption Power generation technology Mo kg/MW (estimated next 5 years) Hydropower 3 Wind (design dependent) 99-119 11,000-13,000 tpy Mo Solar thermal parabolic trough ~200 Solar thermal central tow
Slide 25: The Pyramid of a Hidden Champion
THE PYRAMID OF A HIDDEN CHAMPION Direct Moly use in renewable power generation technology Indirect Moly use for installation equipment & material fabrication Indirect Moly use in mining & mineral processing ü Moly’s indirect uses represent the larger market ü Moly containing alloys are essential for
Slide 26: Moly Adds Muscle to Heavy Weightlifters
MOLY ADDS MUSCLE TO HEAVY WEIGHTLIFTERS q Mobile hoisting equipment for onshore ü Ultra high strength Q&T steels (up to 0.8 %Mo) q Lifting barges and jack-up platforms for offshore ü Heavy gage TMCP or Q&T plate (up to 0.5 %Mo) Source: multibrid.com Source: repower.de Page 25 of 31
Slide 27: Pump Up the Energy
PUMP UP THE ENERGY Pump-storage facilities: Stacking and unstacking of 35-ton concrete blocks by cranes: Height difference up to 1200 m = >100 bar Round-trip conversion efficiency of up to 85 percent. pressure in the lower penstock section A 30 seconds decent generates about 1 MW of electricity ü On
Slide 28: Flat Glass Panels for Conventional PV Modules
FLAT GLASS PANELS FOR CONVENTIONAL PV MODULES Glass melting electrodes (GME’s) are typically made from Molybdenum metal (99.95 %Mo + ZrO2) Molybdenum provides strength, stability, high thermal and electrical conductivity, and a low coefficient of thermal expansion to GME’s ü GME’s are consumables an
Slide 29: The Hydrogen Economy – Not at All Without Moly
THE HYDROGEN ECONOMY – NOT AT ALL WITHOUT MOLY ü Production of 1 kg H2 consumes approx. 9 liters of fresh water ü Future green hydrogen plants in the sun & wind belts will require water desalination ü Desalination plant build on stainless steels containing up to 6% Mo q Moly-alloyed steels for tanks
Slide 30: Green Deal Is Boosting Metal Consumption
GREEN DEAL IS BOOSTING METAL CONSUMPTION …and that requires a lot more mining and mineral processing activity. Example: Chilean copper miners process 430,000,000 tons of ore per year consuming 300,000 tons of Moly containing iron & steel alloys. ü ~600 tons of Molybdenum required – each year! Page 2
Slide 31: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements
Slide 32: Forward Looking Statement
FORWARD LOOKING STATEMENT The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking state
Greenland Resources — EIT Raw Materials event, Brussels, 15-17 May 2023 on 6ix