Northern Minerals Limited · ASX:NTU
Northern Minerals — Diggers & Dealers Mining Forum 2023
31 slides from Northern Minerals's conference presentation, Aug 8, 2023
Slide 1: Becoming an Important Supplier of Dysprosium & Terbium
For personal use only Becoming an Important Supplier of Dysprosium & Terbium for a Globally Sustainable Future Diggers & Dealers Mining Forum 8 August 2023
Slide 2: Disclaimer
Disclaimer This investor presentation (“Presentation”) has been prepared by Northern Minerals Limited (ACN 119 966 353) (“Northern Minerals”). The information contained in this Presentation or subsequently provided to any recipient of this Presentation whether orally or in writing by or on behalf of
Slide 3: Disclaimer: Reporting Requirements for Mineral Resources and Ore Reserves
Disclaimer Reporting Requirements for Mineral Resources and Ore Reserves As an Australian public company with securities listed on the ASX, Northern Minerals is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001(Cth) and the ASX Listi
Slide 4: Acknowledgement of Country
Acknowledgement of Country We acknowledge the Traditional Custodians of the lands upon which we operate, the Jaru, Purnululu, Tjurabalan and Malarngowem peoples. We For personal use only recognise their unique cultural heritage, beliefs and connection to these lands, waters and communities. We pay o
Slide 5: Investment Highlights
Investment Highlights High-grade orebody, experienced management and a clear path to production places Browns Range as one of Australia’s premier rare earths projects • Browns Range Project has the highest-grade dysprosium (“Dy”) and terbium (“Tb”) orebody globally, essential for high-performance pe
Slide 6: Company Snapshot
Company Snapshot Project Overview • Northern Minerals (ASX:NTU) has owned the Browns Range Rare Earths Project (“Project”) for c.16 years, with c.$73m committed to exploration and >134,000m of drilling to date within the Project area. • High-grade Wolverine deposit underpins the initial life of mine
Slide 7: Rare Earths Global Market Opportunity
For personal use only Rare Earths Global Market Opportunity Image: Browns Range Pilot Plant
Slide 8: Supplying a Sustainable Future
Supplying a Sustainable Future Dysprosium & Terbium are critical inputs across multiple applications Electric Vehicles Heavy Rare Earths For personal use only Wind Turbines Light Rare Earths Smartphones Defence Energy Saving Light Bulbs LCD Screens and Displays Speakers & Headphones 8
Slide 9: Governments Globally Support REE's
Governments Globally Support REE’s Countries globally continue to implement strategies to secure rare earth elements United States – Inflation Reduction Act For personal use only US $400b committed to reducing climate change including securing supply chains for rare earths1 EU – Critical Raw Mineral
Slide 10: Rare Earth Basket & Market Opportunity
Rare Earth Basket & Market Opportunity Mineralisation at Wolverine has a uniquely high share of heavy rare earths, including dysprosium and terbium, which are critical inputs to enable electrification Rare earths assemblage Rare earths assemblage • Permanent magnets are at the heart of electrificati
Slide 11: Browns Range Rare Earths Project
For personal use only Browns Range Rare Earths Project Dysprosium & Terbium Image: Browns Range Pilot Plant
Slide 12: Browns Range Project Overview
Browns Range Project Overview Northern Mineral’s strategic objective is to develop Browns Range and focus on being a producer of Dysprosium & Terbium, which are critical to high performance magnet production Key Details c.160km south-east of Halls Creek on the northern edge of the Location Tanami De
Slide 13: Moving Wolverine Towards Production
Moving Wolverine Towards Production Strategic objective to bring the Wolverine deposit into production and focus on being a producer of Dysprosium & Terbium Highly experienced team delivering the DFS, leveraging For personal use only the work undertaken in the 2015 DFS, with a focus on: • Assessing
Slide 14: Iluka Supply Agreement
Iluka Supply Agreement Binding supply agreement with Iluka for 100% of planned production over the initial life of mine to feed the Eneabba Rare Earths Refinery Supply Agreement Price per kg of TREO received by NTU for kg TREO contained in NTU Upside price sharing • NTU to produce Xenotime concentra
Slide 15: Geology
Geology Northern Minerals assets sit within a uniquely Dy and Tb rich mineral setting in the Kimberley with its structural geology and minerology well understood Overview For personal use only • Browns Range holds a Mineral Resource Estimate of 10.81 Mt @ 0.76% Total Rare Earth Oxides (“TREO”), with
Slide 16: Mining
Mining Commencing with open pit, transition to Sub Level Retreat (SLR) Mining Overview • Wolverine will be mined via both open pit and underground methods, for 8+ years For personal use only • A box-cut and decline will commence concurrently with the open pit, to ensure underground ore is ready for
Slide 17: Processing
Processing Beneficiation of ore from the Wolverine deposit producing a xenotime concentrate for supply to Iluka’s rare earth refinery at Eneabba Processing Overview • Processing flowsheet is a well-understood beneficiation For personal use only process that will produce a c.25% TREO xenotime concent
Slide 18: Mine Operations & Proposed Layout
Mine Operations & Proposed Layout Pilot Plant operations enabled establishment of key base operational requirements that will be expanded For personal use only • Airstrip, offices and a worker’s village • Gravel access roads to the mine and around the mine site • Power supply come from diesel genera
Slide 19: Wolverine Deposit
Wolverine Deposit The high-grade Wolverine deposit underpins the initial life of mine, with considerable opportunity to develop adjacent deposits that are also abundant in heavy rare earths Current Resource Estimate Wolverine Deposit Expansion kt JORC-compliant Mineral Resource1 For personal use onl
Slide 20: Proposed Wolverine Resource Definition Drilling
Proposed Wolverine Resource Definition Drilling Aiming to upgrade Resource Definition from Inferred to Indicated Proposed Program For personal use only • Seeking to convert deeper Inferred Mineral Resource to Indicated • Seeking to convert 1.99Mt @ 1.25% TREO for 24,900 t contained TREO • If confirm
Slide 21: Wolverine Extension Drilling Program
Wolverine Extension Drilling Program The high-grade Wolverine deposit underpins the initial life of mine, with considerable opportunity to develop adjacent deposits that are also abundant in heavy rare earths Objective • Test direction of plunge and grade at depth For personal use only • Drilling co
Slide 22: Clear Pathway to Production
Clear Pathway to Production Northern Minerals has conducted a strategic review of the business led by Executive Chair, Nick Curtis, and has mapped a clear path forward to production Company Timeline For personal use only • Maiden JORC Ore • Pilot Plant installed Nick Curtis appointed Executive Chair
Slide 23: Debt Financing
Debt Financing Northern Minerals has commenced procurement of project funding with strategic partners Capital Expenditure Estimate Potential Finance Partners • Early estimate capex to be in the Order of Magnitude (“OOM”) of approximately $500m (excluding financing costs), to be refined as part of th
Slide 24: Regulatory Approvals Summary
Regulatory Approvals Summary Northern Minerals has achieved all primary approvals required to progress through FID 5 May 2017 DMIRS Approval of Browns Range Rare Earths Project - Pilot Plant Trial mining For personal use only Proposal- M80/627 - L80/76 Feasibility Study 2014 2017 2018 2022 2023 20 O
Slide 25: Environment & Community
Environment & Community Northern Minerals maintains a high standard of environmental management and community engagement Environment • Committed to producing ethical rare earths and integrating risk-based For personal use only environmental management throughout its operations. • To support the upda
Slide 26: Management Executing Refocused Strategy
Management Executing Refocused Strategy Northern Minerals is led by Executive Chairman, Nick Curtis, with extensive experience in Rare Earths Nick Curtis - Executive Chairman • 35+ years experience in mining and finance, with 25+ years of RE experience. • Previous Executive Chairman of Lynas Corpora
Slide 27: Board of Directors
Board of Directors Nick Curtis - Executive Chairman • 35+ years experience in mining and finance, with 25+ years of RE experience. • Previous Executive Chairman of Lynas Corporation (ASX:LYC), after taking control of the company in 2001, he refocused it as a rare earths company developing the Mt Wel
Slide 28: The Northern Minerals Proposition
The Northern Minerals Proposition Northern Minerals’ assets sit within a uniquely Dy and Tb rich mineral setting in the Kimberley (Browns Range), with significant resource growth prospectivity • De-risks and accelerates the • Pilot plant operations Strategic partnership project development via a Exi
Slide 29: Appendices
For personal use only Appendices Image: Browns Range Pilot Plant
Slide 30: Appendix A: Mineral Resource
Appendix A: Mineral Resource Global Mineral Resource Estimate (October 2022)1,2 Browns Range Project Overview TREO Dy2O3 Y2O3 Tb4O7 HREO TREO Deposit Classification Mt • The Project is located in the East Kimberley region of Western Australia, % kg/t kg/t kg/t % kg Measured 0.14 0.7 0.61 3.99 0.09 8
Slide 31: Contact
Contact Northern Minerals For personal use only Nicholas Curtis AM Executive Chairman +61 411 425 784 Jane Morgan Management Jane Morgan Investor Relations Manager +61 405 555 618
Northern Minerals — Diggers & Dealers Mining Forum 2023 on 6ix