Gruvaktiebolaget Viscaria · OMXSTO:VISC
Gruvaktiebolaget Viscaria — Q2 2025 Earnings Presentation
24 slides from Gruvaktiebolaget Viscaria's earnings presentation, Aug 14, 2025
Slide 1: Responsible mining for a sustainable future
Responsible mining for a sustainable future Q2 report April – June 2025 Kiruna 14 August 2025
Slide 2: Forward-looking statements
Mining for the future Forward-looking statements This presentation contains forward-looking statements, which relate to events or future performance and reflect Viscaria’s current expectations and assumptions. Such forward-looking statements are based on information previously made public by the Com
Slide 3: Frida Keskitalo CFO
Mining for the future Frida Keskitalo CFO Jörgen Olsson Frida Keskitalo Ross Armstrong Moderator: CEO CFO Head of Geology Jay Ashfield Director Hannam & Partners
Slide 4: A unique position
Mining for the future A unique position Viscaria • Environmental permit in legal force • One of the largest copper projects in Europe • Strong local community ties • Exceptional conditions with low carbon footprint • Funding: SEKM ≈ 2,200 • Rigorous mining preparations well underway 2020–2025 • Succ
Slide 5: Milestones during Q2
Mining for the future Milestones during Q2 • The environmental permit gained legal force on 16 April • Resource update and Feasibility Study confirm higher copper grades, increased tonnage and growth potential • Mine preparations continued: o 45 MW grid agreement signed o Water treatment plant nearl
Slide 6: Copper grades have declined 85% the past 70 years
Mining for the future Copper grades have declined 85% the past 70 years Trend to continue, approaching lower cut-off grades Global weighted average copper grade, 1950-2030, % There is a direct correlation between decreasing grades and increasing cash 2.0 costs in copper mining → to produce the same
Slide 7: Rapid depletion of easily accessible deposits
Mining for the future Rapid depletion of easily accessible deposits => Sharp reduction in copper volume and increasing cash cost Copper in major discoveries 1,2 Mt Easily accessible ore deposits are -93.5% being rapidly depleted, with 277.0 discoveries yielding lower copper grades and requiring deep
Slide 8: Mine area overview
Mining for the future Mine area overview Water treatment Parking Processing plant Railyard Storage & waste station Power Landfill for waste from water treatment
Slide 9: Activity on site has never been higher
Mining for the future Activity on site has never been higher
Slide 10: Setting a new industry standard with WTP1000 Water Treatment Plant
Mining for the future 10 Setting a new industry standard with WTP1000 Water Treatment Plant Construction progressed significantly • Clarification basins and pipeline corridors completed • Installation of pipes, ventilation, process electrics, and other equipment underway • Storage and chemical tents
Slide 11: Q2 Geology Update August 2025
Q2 Geology Update August 2025 Ross Armstrong, Head of Geology
Slide 12: Geology Highlights: Grade, growth, multi-commodity potential
Mining for the future 12 Geology Highlights: Grade, growth, multi-commodity potential
Slide 13: 107.9 Mt total Mineral Resources
Mining for the future 13 Viscaria continues to grow - more copper, higher grades and exploration upside KEY NUMBERS Q2 RESOURCE UPDATE The resource update ‘in a nutshell’: ✓ We see increasing grades in the deposit, now up to 0.90 % copper on average 107.9 Mt total Mineral Resources ✓ Significant inc
Slide 14: Continued growth in Viscaria: Recap from the Mineral Resource update
Mining for the future 14 Continued growth in Viscaria: Recap from the Mineral Resource update Cross-section of the Viscaria deposit’s A, ABBA, B and D zones ✓ HIGHER GRADE Average copper grade increased to 0.90%, up from 0.88% in + 750 m the 2022 MRE NORTHWEST SOUTHEAST A-zone ✓ INCREASING SCALE 19.
Slide 15: 'GRAND VISCARIA'
Mining for the future West Nukutus IP survey and 4400m ‘GRAND VISCARIA’ drilling in Q1 and Q2; full assays pending 22 000 metres drilled so far in 2025 Bahpagobba 2000m drilling with BHEM Viscaria D-Zone in Q2 2025; 3500m drilling with full assays pending NEAR-MINE EXPLORATION BHEM in Q1 and Q2; Vis
Slide 16: Near mine D-Zone exploration results
Mining for the future SOUTHWEST NORTHEAST Near mine D-Zone exploration results Latest step-out drilling delineates high-grade copper shoot down to 1.3 km depth SOUTH SHOOT D-Zone Mineral Resource w/ grade-thickness contours NORTH SHOOT Highlight intersections: VDD24006D from 1196.7 m depth ➢ 7.8 m @
Slide 17: Drilling from underground significantly lowers costs and saves time
Mining for the future Drilling from underground significantly lowers costs and saves time ➢ After successful exploration in the D-Zone, new Inferred resources were defined in the 2025 MRE & included in FS D-Zone mine plan, including newly-defined resources in 2025 MRE mine plan ➢ 18% (8.8 Mt) of the
Slide 18: Q2 Financials August 2025
Q2 Financials August 2025 Frida Keskitalo, CFO
Slide 19: Financial performance in summary
Mining for the future Financial performance in summary MSEK Q2 2025 Q2 2024 Q1 2025 Capitalised expenses related to exploration and evaluation assets 65 92 84 Operating profit -17 -11 -11 Net profit -22 -12 -18 Cash flow for the period -42 317 151 Exploration and evaluation assets 1,513 1,049 1,368
Slide 20: Capitalised expenses quarterly
Mining for the future Capitalised expenses quarterly Capitalised expenses related to exploration and evaluation assets, SEK m 100 Capitalised expenses related to 80 exploration and evaluation assets 60 40 20 ✓ Drilling and analysis 0 ✓ Preparations for mine-startup Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 21: Summary
Mining for the future 21 Summary • Preparations for reopening are in full progress • Grand Viscaria exploration running in parallel • Strengthened team – BoD and management • Strong support from main owners Viscaria is following the plan - ticking off focus areas 2025: • Complete the permitting proc
Slide 22: Q&A
Q&A Jay Ashfield, Director Hannam & Partners
Slide 23: Thank you!
Mining for the future Thank you!
Slide 24: Responsible mining for a sustainable future
Responsible mining for a sustainable future
Gruvaktiebolaget Viscaria — Q2 2025 Earnings Presentation on 6ix