Greenland Resources Inc. · TSX:MOLY
Greenland Resources — ERMA Berlin, 23-25 May 2022
31 slides from Greenland Resources's conference presentation, May 24, 2022
Slide 1: Greenland molybdenum mining project and its product applications in Europe's high-performance steel industry
23-25 May 2022, BCC Berlin "Greenland molybdenum mining project and its product applications in Europe's high- performance steel industry and Green Deal” 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 30
Slide 3: Company Highlights
COMPANY HIGHLIGHTS q World Class Climax-type 100% owned pure molybdenum deposit in East Greenland near tide-water q Critical Mineral needed in all future green energy technologies, World Bank (2020); IEA (2021) q Environmental mine design focused on reduced CO2 emissions and water usage, clean taili
Slide 4: Greenland: An Attractive Mining Jurisdiction
AN ATTRACTIVE MINING JURISDICTION Malmbjerg Project ü Autonomous country within the Kingdom of Denmark (AAA credit) GREENLAND ü Ranked Greenland as Global #1 in “Current Mineral Potential Index” 1,680 Km ü Greenland is a member of the European Raw Material Alliance (ERMA) ü >US$45,000 GDP per capita
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 2019 Region 6% Engineering Production Use Foundries Steel North America 142 64 39% 8% South America 187 28 Europe * - 134 Chemicals China 206 221 13% Total
Slide 6: Definitive Feasibility Study Highlights (Tetra Tech, February 23 2022)
DEFINITIVE FEASIBILITY STUDY HIGHLIGHTS (TETRA TECH, February 23 2022) q Robust Economics on a twenty-year open pit mine life1 q Average annual production in years 1-10 of 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2 and average annual LOM production o
Slide 7: 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 8: 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 9: Mine Plan
MINE PLAN (NI 43-101 Feasibility Study Malmbjerg, February 2022) q Open pit mine with the primary crusher onsite; ore transport by 21km aerial rope conveyor with no CO2 generation comprised of 4 independent blocks where 11.5km will be just above surface; processing on landed barges (no greenfield de
Slide 10: 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 9 of 30
Slide 11: Molybdenum Price Evolution
MOLYBDENUM PRICE EVOLUTION Cash Cost US$6.38/lb Mo Molybdenum price, 2006 – 2022 (World Bank, 2022) Page 10 of 30
Slide 12: NPV & IRR Sensitivity
NPV & IRR SENSITIVITY (NI 43-101 Feasibility Study Malmbjerg, February 2022) After Tax Sensitivity of Project NPV6% and IRR to changes in US$ Molybdenum Prices for Base Case After Tax Sensitivity of Project NPV6% and IRR to changes in US$ Molybdenum Prices for Levered Case NPV@ 6% IRR Spot Mo NPV@ 6
Slide 13: Cashflow
CASHFLOW (NI 43-101 Feasibility Study Malmbjerg, February 2022) After Tax Cashflow and Cumulative Cashflow on Base Case After Tax Cashflow and Cumulative Cashflow on Levered Case Pro Pro 400 3,000 306 300 265 3,000 300 271 2,500 244 234 223 212 225 234 238 233 217 2,500 200 2,000 200 173 175 200 178
Slide 14: Living in a Material World
Au Ores are naturally LIVING occurring rocks IN A MATERIAL that contain metals and metal compounds. Metals are the WORLD valuable parts of ores that can be extracted by separating and removing the waste rock. As a result, ore production is typically much higher than the actual metal content of the o
Slide 15: Moly Market & Math (Ref. Year 2019)
MOLY MARKET & MATH (REF. YEAR 2019) Mo production Mo first use Mo end use Ore & concentrate Primary Mo consumed by steel, Consumption by OEMs, metal & chemical producers fabricators & consumers Europe ROW 0% Other Asia 6% 1% 2% 1% 8% South 16% 23% 11% America 18% China 32% 20% 36% 14% North 38% Amer
Slide 16: Moly Market & Math (Ref. Year 2019)
MOLY MARKET & MATH (REF. YEAR 2019) Mo first use consumption World crude steel production: 1.87 billion tonnes Chemicals 13% South America 2% North America ROW 6% 14% Moly metal Europe 6% High 9% performance Nickel based carbon steels superalloys 39% 3% Cast iron 261 kt 8% Other Asia China Tool stee
Slide 17: Meet Moly in Your Daily Life
MEET MOLY IN YOUR DAILY LIFE Investment goods Consumer goods It’s everywhere – you just didn’t realize it! Page 16 of 30
Slide 18: Why Is Moly So Important to High-Performance Steels?
WHY IS MOLY SO IMPORTANT TO HIGH-PERFORMANCE STEELS? q Commodity steel grades: ü Simple alloying with carbon, manganese, silicon. ü Low value addition and large global overcapacity. q High-performance & special steel grades: q Specific Molybdenum benefits in steel: ü Rely on alloying with group IV-V
Slide 19: The Carbon Footprint of Major Power Generation Technologies
THE CARBON FOOTPRINT OF MAJOR POWER GENERATION TECHNOLOGIES Power rate of return over lifetime Hydropower Wind power Solar PV Nuclear Lignite Gas combined cycle Geothermal Concentrated solar power 0 50 100 150 200 250 300 kWhel / kWhprim Page 18 of 30
Slide 20: The Steel Intensity of Major Power Generation Technologies
THE STEEL INTENSITY OF MAJOR POWER GENERATION TECHNOLOGIES Direct steel consumption per MW installed capacity 300 200 100 Hydro Gas Nuclear Coal Wind Solar CSP 0 Page 19 of 30
Slide 21: Moly Has "Gone With the Wind"
MOLY HAS “GONE WITH THE WIND” Onshore Wind power is the most steel- Offshore Installation and maintenance are less intensive green energy technology Better wind resources. complicated and expensive. (110-140 t/MWinstalled capacity) Less turbulence / low roughness. Grid integration relatively easy. N
Slide 22: Turning Wind into Electric Power – With Moly
TURNING WIND INTO ELECTRIC POWER – WITH MOLY Evolution of torque density in wind power trains Key component “Gearbox” Converts low rpm @ high torque at the blade side (150-300 rpm)… 0.2 %Mo 0.5 %Mo 0.8 %Mo alloyed to gear steels Acc. to ZF Wind power ü Increased Moly alloying in case-carburizing ste
Slide 23: Installation of Windmills – Another Driver for Moly
INSTALLATION OF WINDMILLS – ANOTHER DRIVER FOR MOLY 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 22 of 30
Slide 24: Hydropower – The Classic Renewable Technology
HYDROPOWER – THE CLASSIC RENEWABLE TECHNOLOGY Pump-storage Performance evolution facility, Austria requiring stronger steels S 1100 70 S 960 S 890 60 Pipe wall gage reduction (%) S 690 50 40 Impoundment facility 30 Itaipu, Brazil / Paraguay Mo alloying 20 10 S 355 0 350 450 550 650 750 850 950 1050
Slide 25: Renaissance of Nuclear Power? – Moly Secures the Pressure Vessel
RENAISSANCE OF NUCLEAR POWER? – MOLY SECURES THE PRESSURE VESSEL 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
Slide 26: Thermal Power Generation: Materials Determine Efficiency of Water-Steam Circuit
THERMAL POWER GENERATION: MATERIALS DETERMINE EFFICIENCY OF WATER-STEAM CIRCUIT Sub-critical Supercritical Ultra supercritical Material capability (Steam pressure / temp. / efficiency) q Standard ferrites: 250 bar / 540°C / <40% 280 bar / 600°C / >42% 365 bar / 700°C / >50% ü 260 bar / 560°C / max.
Slide 27: Moly in Corrosion-Resistant Alloys
MOLY IN CORROSION-RESISTANT ALLOYS Solar thermal parabolic trough Solar thermal central tower Geothermal q Molten salt serves here 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
Slide 28: Moly Metal in Back Electrodes of Thin Film Solar Cells
e (billionths of a meter) thick (Figure 3). demand for TFPV, consumption in 2020 e: It is deposited using sputtering, where is estimated to be between 1300 and MOLY METAL IN BACK ELECTRODES OF THIN FILM SOLAR CELLS high-energy inert gas plasma ejects, 2600 MT. Substrate (glass) Front glass Front ele
Slide 29: The Relevance of Moly in Power Generation Technologies
THE RELEVANCE OF MOLY IN POWER GENERATION TECHNOLOGIES Power generation technology Mo kg/MW Hydropower 3 q Alone the construction of wind turbines required Wind (design dependent) 99-119 until 2050 acc. to the IEA’s B2D scenario involves Solar thermal parabolic trough ~200 an estimated molybdenum ne
Slide 30: 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 31: 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