Euro Manganese, Inc. · TSXV:EMN
Euro Manganese — Investor Presentation (April 2021)
39 slides from Euro Manganese's investor presentation, Apr 9, 2021
Slide 1: Manganese is Electric!
For personal use only Manganese is Electric! GREEN AND EUROPEAN SOURCE OF ULTRA HIGH-PURITY MANGANESE
Slide 2: Chvaletice Manganese Project Corporate Presentation - April 2021
Europe’s only realistic opportunity for large-scale primary production of Recycling waste! high-purity manganese products, None of the impacts of hard rock mining. critical battery raw materials. No new waste. Remediating a polluted site. For personal use only Chvaletice Manganese Project Corporate
Slide 3: Cautionary Note
Cautionary Note For personal use only Forward-Looking Statements and Risks Notice Except for statements of historical fact relating to Euro Manganese Inc. (“EMI” or the “Company”), certain information contained in this presentation constitutes forward-looking statements. When we discuss our costs an
Slide 4: Compliance Statements
Compliance Statements Competent and Qualified Persons Statement For personal use only All production targets for the Chvaletice Manganese Project referred to in this presentation are underpinned by estimated Measured and Indicated Mineral Resources prepared by competent persons and qualified persons
Slide 5: High-purity manganese (HPM) market set to be transformed
High-purity manganese (HPM) market set to be transformed For personal use only HPM demand growing rapidly on back of growth in the Li-ion and EV markets Significant barriers of entry to HPM, where not all manganese ores and HPM are created equal Mn used in the vast majority of Li-ion batteries, with
Slide 6: EU, North America and China's share of Lithium-ion battery raw materials supply chain
EU, North America and China’s share of Lithium-ion battery raw materials supply chain For personal use only Stage One: Mining Stage Two: Chemical Processing/Refining Chemical Processing Nickel 8% 0% 31% Nickel 13% 1% 65% Mining Cobalt 0% 0% 1% Cobalt 17% 0% 68% 1 1 Graphite 1% 0% 65% Graphite 0% 0%
Slide 7: Manganese use in NMC and LNMO cathode formulations accelerates
Manganese use in NMC and LNMO cathode formulations accelerates 2020 For personal use only Today (2020) 48% of batteries use HPM 48% Tomorrow (2023) ~62%+ will use it The proportion of batteries requiring HPM is forecast to grow from 50% to 60% of all batteries. Li-ion Rechargable Battery Demand to 2
Slide 8: New data: evolving forecast for Li-ion batteries made with HPM
New data: evolving forecast for Li-ion batteries made with HPM GWh of demand for Li-ion batteries For personal use only using high purity manganese (HPEMM or HPMSM). The current forecast is the most 2600 Mn-bullish of the last five forecasts by Cairn ERA (red line). The graph illustrates GWh of dema
Slide 9: New data: global HPM demand from the battery industry
New data: global HPM demand from the battery industry For personal use only High Purity Manganese Demand from battery industry (thousand tonnes of Mn contained) HP Mn Q1/2020 F-cast Current Forecast (Q1/2021) Comparison of recent demand 1,000 forecasts for high purity manganese +71% from battery ind
Slide 10: Europe is becoming a global hub for EV and battery production
Europe is becoming a global hub for EV and battery production FINLAND SWITZERLAND CZECHIA For personal use only ~15 GWh 1 GWh 20 GWh FINLAND FRANCE TBD 2 GWh FINLAND FRANCE W. EUROPE 32 GWh 40 GWh GERMANY FRANCE E. EUROPE POLAND 16-50 GWh 40 GWh ~30 GWh TBA Precursors & Cathodes GERMANY SWEDEN 40 GW
Slide 11: Volkswagen and Tesla pivot to manganese
Volkswagen and Tesla pivot to manganese The impact of Tesla’s Battery Day and VW’s Power Day For personal use only Volkswagen Auto Group and Tesla have each announced plans to mass-produce a new battery that requires a high proportion of manganese with no cobalt – Tesla at ~33% Mn, and VW >50% Mn Th
Slide 12: Strategic European source of HPM supply
Strategic European source of HPM supply Globally significant, 25-year project to produce ~50,000 For personal use only tonnes per annum of manganese in the form of battery- grade products Expected to be Europe’s only primary producer of high- purity manganese Located in the heart of Europe’s fast gr
Slide 13: EIT InnoEnergy to support Chvaletice Manganese Project
EIT InnoEnergy to support Chvaletice Manganese Project A vote of confidence from the EU’s EV and battery industries For personal use only EU-backed public-private partnership that leads European Battery Alliance will help accelerate the Chvaletice Project’s integration into the European Union’s batt
Slide 14: New green battery regulations on the horizon
New green battery regulations on the horizon Europe’s new strategic approach to batteries For personal use only Proposed new regs are part of the EU’s green transition EU taking “resolute action” for the sustainable production, deployment and waste management of all batteries placed on the EU market
Slide 15: Excellent infrastructure and jurisdiction
Excellent infrastructure and jurisdiction Rail, highway, gas pipeline, water and competitively-priced power For personal use only available on-site Land assembly completed for Chvaletice plant site Czech Republic: Sophisticated, stable and business- friendly jurisdiction in the European Union CAD$27
Slide 16: Fully Drilled Resource
Fully Drilled Resource 2017-2018 DRILL PROGRAM For personal use only 160-hole 2017-2018 sonic and auger drill program upgraded the resource estimate to a Measured and Indicated Status (98.3% of the resource classified as Measured under Cell 1 NI 43:101/JORC 2012) Resource model forms reliable basis
Slide 17: Easily treated carbonate tailings
Easily treated carbonate tailings For personal use only Uniform and fully drilled deposit very well-suited to production of HPM using clean, modern and commercially proven technologies Carbonate ore and tailings deposit provide significant extraction and processing cost and environmental advantages
Slide 18: Demonstration Plant – fabrication underway
Demonstration Plant – fabrication underway A key next step for Euro Manganese For personal use only The Demonstration Plant (DP) is a key element of EMN’s Chvaletice development strategy. Order placed in November 2020. Delivery targeted summer of 2021, with installation, commissioning and operation
Slide 19: Waste recycling – not mining
Waste recycling – not mining For personal use only Recycling of waste from a decommissioned mine and remediation of polluted site, solving a longstanding environmental problem No drilling, blasting, crushing or milling No new mining waste or tailings! Preliminary mining permit issued in 2018 Solid p
Slide 20: Project enters next stage of permitting process
Project enters next stage of permitting process An important regulatory milestone For personal use only Screening of preliminary Environmental Impact Assessment (EIA) is complete Six-month screening procedure by Czech Republic Ministry of the Environment solicited feedback from government bodies and
Slide 21: Clear development plan
Clear development plan Resource completely drilled. Over 98% classified as Measured under JORC/NI 43-101 For personal use only Extensive metallurgical testing and engineering: Conducted by world-leading firms with deep HPM experience 2018 Pilot Plant: Confirmed ultra-high purity nature of Chvaletice
Slide 22: EMN is well-funded
EMN is well-funded Oversubscribed private placement of AUD$30.0 million (CAD$29.0 Million) announced March 22, 2021 For personal use only • Offering was anchored by a strategic investor and an ESG-focused fund, with strong support from several existing institutional shareholders • Proceeds of the Of
Slide 23: The Chvaletice Manganese Project: A mature and advanced development opportunity
The Chvaletice Manganese Project: A mature and advanced development opportunity For personal use only More than five years of technical studies, evaluation and planning work by a very capable and committed team paying meticulous attention to detail: • Over CAD$28 million invested to date by EMN to a
Slide 24: The Chvaletice Manganese Project: A mature and advanced development opportunity
The Chvaletice Manganese Project: A mature and advanced development opportunity For personal use only Uncompromising technical, social and environmental standards • Strong in-house capabilities, experience and award-winning track record • Project planning and execution brings together many of the mo
Slide 25: Highly experienced management team
Highly experienced management team Solid multidisciplinary team with proven development experience and award- winning track For personal use only record of excellence in environmental and social practices Management team and directors are company builders with extensive experience in corporate finan
Slide 26: World-class team: HPM experience and strong project execution capabilities
For personal use only WORLD-CLASS TEAM : HPM experience and strong project execution capabilities GREEN AND EUROPEAN SOURCE OF ULTRA HIGH-PURITY MANGANESE 26
Slide 27: Euro Manganese Inc. – capitalization
Euro Manganese Inc. – capitalization Dual IPOs completed on October 2nd, 2018. For personal use only Capitalization as of March 31, 2021 Shares trade on the TSX Venture Exchange Shares (including ~194.5 Mill. CDIs) 363,623,081 and CHESS Depository Instruments (CDIs) Options 21,582,667 trade on the A
Slide 28: Thank You!
For personal use only Thank You! Marco A. Romero | President & CEO | Tel: +1-604-681-1010 x 101 1500 - 1040 West Georgia Street | Vancouver, BC Canada V6E 4H8 info@Mn25.ca | www.Mn25.ca EMN on ASX and TSXV GREEN AND EUROPEAN SOURCE OF ULTRA HIGH-PURITY MANGANESE
Slide 29: Appendices
For personal use only APPENDICES 28 GREEN AND EUROPEAN EUROPEAN SOURCE SOURCE OF OF ULTRA ULTRAHIGH-PURITY HIGH-PURITYMANGANESE MANGANESE
Slide 30: HP manganese market opportunity
HP manganese market opportunity Conversion to Cathode 0.565 kg 1.719 kg 1.633 kg For personal use only prod. losses prod. losses HPEMM HPMSM HPMSM MnSO4H2O Production Equivalentto 0.445 kg HPEMM Gross Mn weight required for 1 kWh of battery capacity: NMC-111: 0.520 kg HPEMM or 1.597 kg HPMSM NMC-53
Slide 31: 2018 NI 43-101 / JORC Resource Estimate
2018 NI 43-101 / JORC Resource Estimate 2017 – 2018: 160-hole For personal use only drilling program findings Updated Resource Estimate NI 43:101/JORC 2012 Resource Estimate included in Technical Report dated March 15, 2019 by Tetra Tech Canada Inc. • Manganese is for the most part evenly distribute
Slide 32: Waste recycling. Not mining!
Waste recycling. Not mining! Meeting Europe’s circular economy goals by recycling waste For personal use only Progressive site reclamation After Mn extraction, tailings are washed and neutralized, dry-stacked gradually on impermeable membranes, capped and progressively revegetated for long-term use
Slide 33: Easily treated carbonate tailings
Easily treated carbonate tailings Simpler, cost-effective processing For personal use only Asia imports the majority of its manganese ore used for HPM production, predominantly from manganese oxide deposits in Africa In comparison, EMN will process tailings onsite with simple, commercially proven te
Slide 34: Feasibility Study
Feasibility Study Feasibility Study initiated in 2019 based on process flowsheet developed during scoping and Highly experienced Feasibility Study contributors: pre-feasibility study programs conducted during 2017 and 2018. Feasibility Study For personal use only completion scheduled for Q1 2022 • T
Slide 35: Demonstration Plant modules
Demonstration Plant modules (Replicates pilot plant flow sheet – conventional, commercially-proven technology) For personal use only Located adjacent to Chvaletice tailings deposit and power plant Building #1 East - Beneficiation module • Raw tailings pulp • Magnetic separation • Manganese concentra
Slide 36: Target Project development timeline
Target Project development timeline RECENT MILESTONES NEAR TERM MILESTONES For personal use only 2018 2019 2020-2021 2022 - 2024 ✓ Upgrade resource estimate to NI 43-101 ✓ Complete NI-43-101/JORC Code ✓ Secure additional financing to Begin operation of Measured and Indicated status Preliminary Econo
Slide 37: Leadership team - Canada
Leadership team - Canada For personal use only Marco Romero Martina Blahova Andrea Zaradic Fausto Taddei Thomas Glück PRESIDENT & CEO, CHIEF FINANCIAL OFFICER VICE PRESIDENT OPERATIONS VP CORPORATE DEVELOPMENT & CHIEF TECHNOLOGY OFFICER FOUNDER & DIRECTOR CORPORATE SECRETARY • 42 years of diversifie
Slide 38: Leadership team – Europe
Leadership team – Europe For personal use only Jan Votava Wenling Sun Tomas Hochmann Blanca Dobrkovská Lucie Jaremová MANAGING DIRECTOR OF STRATEGIC DIRECTOR, TECHNICAL DIRECTOR ENVIRONMENTAL MANAGER PROCUREMENT OFFICER MANGAN CHVALETICE S.R.O CHINA • Engineer with 19 years • Highly experienced mini
Slide 39: Independent Directors
Independent 7 Directors For personal use only David Dreisinger Tom Stepien John Webster Gregory Martyr DIRECTOR DIRECTOR CHAIRMAN & DIRECTOR DIRECTOR • Professor and Chair of the • CEO of Primus Power, a battery • Senior finance professional who • Over 30 years of experience in Industrial Research C