Green Minerals As · OSL:GEM
Green Minerals As — Q1 2022 Earnings Presentation
11 slides from Green Minerals As's earnings presentation, May 19, 2022
Slide 1: Green Minerals – Enabling the green shift
Ss GREEN MINERALS Enabling the green shift
Slide 2: Our vision is to create a marine minerals value chain
Our vision is to create a marine minerals value chain through partners and affiliations, where GEM explores and operates the licenses 19.05.2022 – page 19
Slide 3: Main development – Key financials for Q1 2022
Main development Key financials for Q1 2022 Highlights for Q1 2022 Income statement Q1 2021 Q1 2022 2021 LTM Operating income - - - - • Completed research cruise with very promising preliminary results Operating expenses -1 652 -4 140 -10 651 -12 897 • Developing a comprehensive exploration framewor
Slide 4: Strategic priorities remain unchanged
Strategic priorities remain unchanged 1. LICENSE AWARD IN NORWEGIAN WATERS 2. PURSUING INTERNATIONAL OPPORTUNITIES • Full life-cycle operation in Norway remains our key focus • We are actively pursuing international opportunities • Norwegian government working towards opening in 2023 • We view both
Slide 5: Roadmap towards exploration license in '24 and production in '28
Roadmap towards exploration license in ’24 and production in ‘28 State Impact Public Impact Assessment ownership Assesment Consultation carried out Public The Seabed Opening process Deadline 12.04.21 Coordinated by NPD with Consultation started MPD/NPD various institutes and Minerals Act >50+ remark
Slide 6: Expected key milestones during 2022
Expected key milestones during 2022 1. RESEARCH CRUISE 2. METALLURGY ANALYSIS 3. RELEASE OF NPD DATA 4. ALLIANCES & PARTNERSHIPS • Research cruise on the Mid-Atlantic • GEM has initiated a metallurgy • NPD has carried out research cruises • Continue expanding our partnership ridge with ProjectULTRA
Slide 7: Setting the industry standard for ESG
Setting the industry standard for ESG 1. ESG IS LICENCE TO OPERATE 2. REDUCED ENVIRNOMENTAL FOOTPRINT 3. GEOPOLITICAL AND SOSIAL ASPECT Share of processing (2019) C02 equivalent emissions (Gt) 73% 100% RoW RoW 90% Argentina Malaysia RoW Ore use (Gt) 80% RoW RoW 76% Belgium 70% Chile Finland 60% Soli
Slide 8: Access to minerals to accelerate the energy transition could become a bottleneck
Access to minerals to accelerate the energy transition could become a bottleneck Primary demand for copper and committed mine capacity COPPER, GRADE A 26 11 000 24 10 000 9 000 USD per ton 22 Megaton (Mt) 8 000 20 7 000 18 6 000 16 5 000 14 4 000 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 203
Slide 9: Onshore ore grade is in structural decline, the era of easy copper is over
Onshore ore grade is in structural decline, the era of easy copper is over Copper Ore grade Chile (%) 1,2 1,0 0,8 0,6 <0,8 % 0,4 0,2 - • Similar to oil, the era for easy onshore copper is over • The average ore grade is decreasing, resulting in: • Higher energy cost per unit produced • Growing waste
Slide 10: The Mohns Ridge contains a potential world class resource
The Mohns Ridge contains a potential world class resource 5,6 % 0,40 % Mohns Ridge Slabbed sample of SMS from Mohns Ridge Photo courtesy of NPD 0,85 % Average values from twelve valid samples of the Fåvne SMS on the Mohns Ridge off Norway Source: Green Minerals and NPD 19.05.2022 – page 27
Slide 11: Aspirational targets – operations and financials
Aspirational targets – operations and financials EXPLORATION DEVELOPMENT / PRODUCTION FINANCIAL TARGETS >$100m >$800m >$150m >$550m >50% Cu 5.6% Co 0.4% Other Gross (e.g. Zn, Au, Ag) Revenue Cost EBITDA • Planning for two research cruises, • We plan for a pilot system ready to • Revenue: including e