Amaroq Ltd. · LSE:AMRQ
Amaroq — Amaroq Minerals — Investor Day (June 2023)
45 slides from Amaroq's investor day presentation, Jun 2, 2023
Slide 1: Iceland Capital Markets Day 2 June 2023
ICELAND CAPITAL MARKETS DAY 2 JUNE 2023 www.aexgold.com | TSXV: AEX AEX Gold Inc. is a Greenland-focused mining company engaged in the identification, acquisition, exploration www.amaroqminerals.com | AIM: AMRQ; TSXV: AMRQ and development of gold properties in Greenland.
Slide 2: Naaja H. Nathanielsen
NAAJA H. NATHANIELSEN Minister of Finance and Gender Equality Government of Greenland Slide: 1 Amaroq Minerals Ltd: Iceland CMD
Slide 3: Graham Stewart - Profile
GRAHAM STEWART - PROFILE Chairman • Graham has worked in the international oil & gas industry for 30 years. • Graham has created a reputation for generating significant shareholder value for the companies he acts for. • Founder of Faroe Petroleum, which he listed on AIM in 2003. Graham grew Faroe in
Slide 4: Highly Experienced Board and Executive Management Team
HIGHLY EXPERIENCED BOARD AND EXECUTIVE MANAGEMENT TEAM Eldur Olafsson Jaco Crouse Founder, President & Chief Executive Officer Chief Financial Officer, Board Member Board Member BOARD MEMBERS MANAGEMENT TEAM Graham Stewart Warwick Morley-Jepson Non-Executive Chairman Non-Executive Director James Gil
Slide 5: Eldur Olafsson – Profile
ELDUR OLAFSSON – PROFILE Founder & CEO • Eldur founded Amaroq Minerals in 2017, having previously worked for over 7 years on integrated mining projects in Greenland. • He has had an extensive career in the geothermal and mining industries, during which he built the largest geothermal district heatin
Slide 6: The History of Energy
The History of Energy Consumption 160k TWh Coal Traditional Biomass e Ad oe Ad e 1800 1850 1989 1950 2000
Slide 7: Our Purpose: Creating a Greenlandic Legacy
OUR PURPOSE: CREATING A GREENLANDIC LEGACY Empowering Greenland to become a strategic supplier of gold and the materials needed to power a greener future Feeding the Global Bringing Long-term Building a Green Transition Value to Greenland Responsible Future Investing in and empowering Meeting the un
Slide 8: Amaroq Minerals Ltd Resource Development Strategy
AMAROQ MINERALS LTD RESOURCE DEVELOPMENT STRATEGY Unlocking value from Greenland’s gold and strategic mineral wealth Shortest, lowest risk path to cashflow via the re-development of Nalunaq Nalunaq cashflow to self-fund and unlock the true mineral potential of Greenland Targeting world class d
Slide 9: Jaco Crouse - Profile
JACO CROUSE - PROFILE Chief Financial Officer • Seasoned mining executive with 20 years’ experience in financial management, mine financial planning, business optimization and strategy development. • Most recently occupied the position of CFO of Detour Gold Corp., where he facilitated the successful
Slide 10: Lifecycle of Mineral Discovery
LIFECYCLE OF MINERAL DISCOVERY Lassonde Curve Limitations Low liquidity = High Price AMRQ Volatility = Underestimates AMRQ Est. 2024 2020/Early 2021 true market value Investor Psychology – changes in one stock affects AMRQ changes in another stock End of 2022 irrespective of the quality of AMRQ
Slide 11: Financing Overview – Total Available Financing $109M
FINANCING OVERVIEW – TOTAL AVAILABLE FINANCING $109M Transformational funding opportunity to accelerate Amaroq’s growth in precious & strategic metals High-quality Board & Icelandic register with Management Shareholding Ticker significant institutional Financing Overview AMRQ shareholders 12.93% ~30
Slide 12: James Gilbertson - Profile
JAMES GILBERTSON - PROFILE Vice President Exploration • Tasked with processive resource growth and developing new opportunities across the Amaroq portfolio. • Holds 24 years experience as an exploration and resource geologist. • Served as Managing Director of SRK Consulting’s exploration division. •
Slide 13: Greenland
GREENLAND Paleozoic Basins Citronen Zn/Pb Exploration Budgets by Stage 0.5 Dundas Ilmenite 15.9 19.4 Exploration Budgets Growth by Year 35.8 Paleozoic Basins Grassroots Late Stage & Feasibility Cobalt Copper Gold Minesite REE Nickel PGMs Malmbjerg Mo/Cu Uranium Zinc/Lead Other Paleogene Magmatic Bla
Slide 14: South Greenland Prospectivity
SOUTH GREENLAND PROSPECTIVITY South Greenland Copper Belt North Sava Sava Nanoq Motzfeldt Sø Josva Kvanefjeld/ Paatusoq Kringlerne Geological events resulting in three prospective mineral belts across Vagar South Greenland, one for Copper, one for REE Ni/Cu/PGE and one for Gold Gardar Province Nalun
Slide 15: Value Creation Through Mineral Exploration
VALUE CREATION THROUGH MINERAL EXPLORATION Value trends in mineral exploration & how to promote success How To Ensure Success? Advanced Exploration Resource Delineation Geological Concepts Target Generation Technical Studies Strong Technical Team Mine Construction / commissioning 1st Mineral Resou
Slide 16: Axel Schultz - Profile
AXEL SCHULTZ - PROFILE Nalunaq Project Director • Responsible for successfully delivering the project fast-tracked, on- schedule, on-budget, and to quality, and for all technical aspects • An accomplished Project Director and professional mechanical engineer with more than 30 years’ experience in pr
Slide 17: Project Delivery Pipeline: 2023 - 2025
PROJECT DELIVERY PIPELINE: 2023 - 2025 An ambitious development programme focused on bringing Nalunaq into production to generate cashflow to fund further opportunities 2023 2024 Contracting Engineering Mining Construction COMMISSIONING Slide: 16 Amaroq Minerals Ltd: Iceland CMD
Slide 18: Nalunaq – Future Operating Mine Layout
NALUNAQ – FUTURE OPERATING MINE LAYOUT Underground Production, Surface Processing and Nearby Camp and Port HARBOR TRIAL MINING CAMP AREA TEMP FUEL STORAGE MOUNTAIN MINE ROAD BLOCK 450 LEVEL TAILINGS EXPLOSIVES MAGAZINE Slide: 17 Amaroq
Slide 19: Quality Integrity Care
Stability & Growth Projects 255 Projects Studies 10 years in business Engineering 50 Permanent Staff EPC $250 Million Responsibility (Project Capex) Commodities EPCM Gold Commissioning Rare Earths Remote Sites Lithium Copper Diamond Project Management Nickel Expertise Planning and Scheduling Lead /
Slide 20: Experts in Minerals Processing
Risk Mitigation & Opportunities 1. Past Producing site 2. Staged approach 3. Decisions based on experience of previous operators Experts in 4. Early cash flow Minerals 5. 6. Reprocessing of early materials Modular design Processing 7. Scalability & springboard to wider region Quality Integrity C
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Slide 31: Thyssen Schachtbau
Specialized mining contractor with a wealth of technical know-how and experience dating back 150 years • One of the leading specialized mining contractors • 2,100 employees / Average turnover of € 310M p.a. THYSSEN SCHACHTBAU • Shaft construction portfolio of 220+ km • Peak development rates of 20-3
Slide 32: Mining Equipment Acquired
MINING EQUIPMENT ACQUIRED Underground Equipment Epiroc Boomer S1D-DH Scoop tram ST7 Volvo Tunnel Excavator ECR88-T Bobcat T86 Compact Track Loader Bobcat GHH MK A20 Dumper TL38.70HF Telehandler Slide: 32 Amaroq Minerals Ltd: Iceland CMD
Slide 33: Joan Plant - Profile
JOAN PLANT - PROFILE Vice President ESG and Corporate Secretary • Previously Project Manager with Barclays Bank • Worked on Nalunaq and other Greenlandic projects since 2010 • Built strong relationships with the Government of Greenland • In-depth knowledge of all aspects of mining Licencing processe
Slide 34: Permit Cycle
PERMIT CYCLE Slide: 34 Amaroq Minerals Ltd:
Slide 35: Permitting Status – Nalunaq Exploitation Licence in Place
PERMITTING STATUS – NALUNAQ EXPLOITATION LICENCE IN PLACE Permit Status Environmental Impact Approved by government; progressing to public consultations Assessment (EIA) Social Impact Approved by government; progressing to public consultations Assessment (SIA) Impact Benefit Starts after 8 week publ
Slide 36: Social Licence
SOCIAL LICENCE Building relationships with Communities • Creating jobs for local people • Over last 3 years field seasons more than half of our employees have been local • Working with our mining contractor we will cooperate with the Mining School in Greenland to train local people to take over from
Slide 37: Environmental Commitments
ENVIRONMENTAL COMMITMENTS Creating a Greenlandic Legacy • Hydropower in South Greenland • Scoping study being conducted by Verkis • Supporting our projects • Benefiting the local community • Strengthening Greenlandic infrastructure as it transitions to Green Energy • Tree planting to create Greenlan
Slide 38: Contact Us
CONTACT US AMAROQ MINERALS LTD 3400 One First Canadian Place, PO Box 130, Toronto, On, M5X 1A4, Canada Eldur Olafsson, Chief Executive Officer AIM: AMRQ; TSXV: AMRQ
Slide 39: Listing on Nasdaq Iceland's Main Market
LISTING ON NASDAQ ICELAND’S MAIN MARKET Amaroq is planning to list on Nasdaq Main Market in Iceland, to sit alongside the Company’s existing TSX-V and AIM listings Alongside the March 2023 financing, Amaroq November 2022 Secured $49,5m in announces its Landsbankinn Work on Prospectus debt financing
Slide 40: Nasdaq Iceland Main Market
NASDAQ ICELAND MAIN MARKET The Main Market offers various potential benefits for Amaroq Local pension funds by far the largest investors Increased visibility and interest from institutional investors Increased liquidity and price formation Potential eligibility for inclusion in indices, facilitating
Slide 41: The Icelandic Stock Market
THE ICELANDIC STOCK MARKET Nasdaq Iceland operates two markets Nasdaq First North Iceland Nasdaq Iceland - MTF/EU Growth Market - - Main Market - Transfer to Main Market in progress Previously on First North Iceland 22 companies with combined market cap of EUR ~15 billion 7 companies with combined m
Slide 42: Transfer Rationale
TRANSFER RATIONALE Transferring to the Main Market has been seen to increase trading volume and facilitate pension fund participation Sources: Kodiak Excel (May 2023), shareholder lists *Estimate based on news sources Shareholder list at year-end and April 30th 2023 Slide: 42
Slide 43: Disclaimer
Disclaimer This presentation is provided for information purposes only and it is subject to change. It is indicative only and is not binding. This presentation shall not be construed as an offer or solicitation for the subscription or purchase or sale of any securities, or as an invitation, induceme
Slide 44: Q&A
Q&A Please submit written questions via the webcast over email to: amaroq@camarco.co.uk Slide: 44 Amaroq Minerals Ltd: Iceland CMD
Slide 45: Contact Us
CONTACT US AMAROQ MINERALS LTD 3400 One First Canadian Place, PO Box 130, Toronto, On, M5X 1A4, Canada Eldur Olafsson, Chief Executive Officer AIM: AMRQ; TSXV: AMRQ