Green Minerals As · OSL:GEM
Green Minerals As — Q4 2022 Earnings Presentation
20 slides from Green Minerals As's earnings presentation, Feb 17, 2023
Slide 1: Enabling the green shift – Q4 2022 presentation
Enabling the green shift Q4 2022 presentation – 17 February 2023 16.02.2023
Slide 2: Disclaimer
Disclaimer All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy and other plans and objectives for future results, constitute forward-looking statements and are prediction
Slide 3: Presenters
Presenters Ståle Rodahl Ståle Monstad Sveinung Alvestad Executive Chairman CEO CFO 16.02.2023 – page 3
Slide 4: Outline
Outline • Q4 Highlights • 2022 Milestones Hawaii Mexico • Key objectives 2023 • Subsequent events CCZ • Polymetallic Nodules • Strategic priorities • Operations and financials 16.02.2023 – page 4
Slide 5: Q4 highlights
Q4 highligths Norwegian Petroleum Directorate: Highlights for Q4 2022 • OSI led consortium started working on Concept study for “Harsh environment Deep-Sea mining system”. • Signed frame agreement with an international battery manufacturer. Subsequent events • Signed an MoU with a license holder in
Slide 6: Financial highlights
Financial highligths Q4 2022 Full year 2022 • Q4 revenue of NOK 0.3 million, first revenue ever recorded • 2022 operating expenses were NOK 11.5 million, up from NOK 10.7 million in 2021. • Q4 expenses was NOK 4.3 million, broadly in line with prior year quarter. • The underlying cost, after adjusti
Slide 7: 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 carried out a metallurgy • NPD has carried out research cruises • Continue expanding our partnership ridge with ProjectULTR
Slide 8: Key Objectives for 2023
Key Objectives for 2023 1. LICENSE WIN 2. RESEARCH CRUISE 3. PROCESSING STUDY 4. ALLIANCES & PARTNERSHIPS • GEM’s ambition is to secure a • The next research cruise to the • GEM has secured more SMS material • Continue expanding our partnership license in 2023. Mid Atlantic Ridge is planned for to c
Slide 9: MoU signed
MoU signed • Green Minerals signs MoU for partnership in a nodule license in CCZ in January 2023. • Competent license holder. • Significant amount of work done on the license to date, indicating • A significant resource of key battery metals on global scale. • >100 yrs. production at same rate as NC
Slide 10: Three main types of marine minerals occurrences
Three main types of marine minerals occurrences Seafloor massive sulphides (SMS) Manganese crust Polymetallic nodules Our Added initial focus focus • Impacted area is very small (diameter in • Intermediate areas (50-100km2) • Large areas (>250k km2) the 100’s m range.) • Steep slopes most likely fav
Slide 11: Polymetallic nodules. “Battery in a rock”
Polymetallic nodules. “Battery in a rock” • Polymetallic nodules, contain four essential battery metals: cobalt, nickel, copper, and manganese, in a single ore. 1,2 % 0,20 % • Unlike land ores, nodules do not contain toxic levels of heavy elements. • Licenses in the CCZ are large, often between 70 0
Slide 12: SMS vs Nodules
SMS vs Nodules SMS Polymetallic nodules 4%* 0,2% 1%* 0,2% vs 0,8% 30% 1,5% • SMS is mainly a copper play, but some deposits also show very interesting Cobalt ore grades. • Seafloor Massive Sulphides are 3D deposits, that cover small areas and mining is needed to produce the resource. • Nodules are a
Slide 13: Future Nordic value chain
Future Nordic value chain Infrastructure in place Legend Mining ship Facilities that may be reopened/modified Existing facility Battery factory Railroad 16.02.2023 – page 13
Slide 14: NPD Resource report
NPD Resource report In-situ metals sulfides Global annual NPD/Global Metal NPD (Tons) production prod. (Tons) Copper 38 100 000 21 000 000* 1.8x Gold 2 317 3 090** 0.8x Silver 85 200 24 000* 3.6x Cobalt 1 000 000 170 000* 5.9x *All the metals we mined in 2021: Visualized - MINING.COM **Global gold p
Slide 15: Partnership for responsible production
Partnership for responsible production • Work commenced for delivery of a concept study on Harsh Environment Deep-Sea Mining System “ore from seafloor to port” for exclusive use in Norwegian waters. • OSI has delivered risers for Allseas/TMC (Nodules) and Japanese consortium (SMS) and was part of in
Slide 16: 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 Assessment 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+ remar
Slide 17: Aspirational targets – operations and financials
Aspirational targets – operations and financials CCZ NCS FINANCIAL TARGETS - NCS >$100m >$800m >$150m >$550m >50% Cu 5.6% Co 0.4% Other Gross (e.g. Zn, Au, Ag) Revenue Cost EBITDA • Geological exploration work completed • We plan for a pilot system ready to • Revenue: operate by 2026 • 1.5 Mt annual
Slide 18: Recent industry developments
Recent industry developments OMLUS TMC GEM Market cap (USDm) NA 229 7 License award in Cook Islands provides perspective on industry values: Production start (est) 2026 2024 2026/2028 • -3 licenses awarded to Moana Minerals Ltd (OMLUS), CIC Ltd (Oddesey) and CIIC Seabed Resorces Ltd (Deme Gp) Produc
Slide 19: Green Minerals summary
Green Minerals summary • A pioneer and frontrunner in marine minerals in Norway • Green Minerals signs MoU on large nodule license in CCZ, approaching license holder status earlier than previously guided. • Opening decision in Norway 4-7 months expected, public consultation completed in January. • U
Slide 20: Enabling the green shift Q&A
Enabling the green shift Q&A 16.02.2023