Green Minerals As · OSL:GEM
Green Minerals As — Q3 2024 Earnings Presentation
19 slides from Green Minerals As's earnings presentation, Nov 7, 2024
Slide 1: Q3 2024
Q3 2024 Oslo, November 7, 2024 Ståle Rodahl, Executive Chairman Ståle Monstad, CEO
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 predict
Slide 3: Financial Highlights
Financial Highlights Key figures All figures in NOK '000 (except equity Quarters* 9 months ending* Full year* ratio) Q3 2024 Q3 2023 30.9.24 30.9.23 2023 2022 Revenues - - - - 6 206 Operating expenses -9,143 -1,658 -14,794 -6,947 -10,943 -11,330 EBITDA -9,143 -1,658 -14,794 -6,947 -10,937 -11,124 EB
Slide 4: Q3 Highlights
• Directed equity issue to Oil States Industries (OSI) Q3 • 4% of the Company issued @ NOK 15 per share • MoU signed with Soil Machines Dynamics Highlights (SMD) • Joint development of Core Sampling Unit • Exploration capex (est) revised down 25% • Capex until first ore estimated lower • Strong prog
Slide 5: Partnership for responsible production
Partnership for responsible production • A robust system has been proposed – production of 1.5mtpa in harsh environment • Creation of a consortium that covers all competence needed to engineer and produce the required production system • OSI is now a 4% share-holder of GEM, highlighting interest fro
Slide 6: video
video 07.11.2024 6
Slide 7: SMD – Collaboration for Core Sampling and Exploration Technologies
SMD – Collaboration for Core Sampling and Exploration Technologies • GEM has identified limited availability of Core Sampling equipment for future SMS exploration campaigns • Soil Machine Dynamics (SMD) is a key-player within OSI consortium as responsible for the design and integration of the subsea
Slide 8: Draghi Report EU
Draghi Report EU “The EU should also carefully explore the potential of environmentally-sustainable deep sea mining: estimates suggest that the sea bed holds large multiples of the known land-based reserves for example for copper, titanium, manganese, cobalt, nickel and rare earth elements.” EU comp
Slide 9: Political support and engagement
Political support and engagement «We need more minerals. Demand for minerals will increase in the coming years and we are currently heavily dependent on Russia and China. This means that the value chains for the green shift are very strained.» 07.11.2024 9
Slide 10: Follow up on the proposed National Budget for 2025
Follow up on the proposed National Budget for 2025 07.11.2024 10
Slide 11: GEM's response to the public hearing
GEM’s response to the public hearing • GEM positive to the proposed area. • Includes GEM’s highest ranked areas in Mohnsryggen Sør and Mohnsryggen Nord • Recent findings from research cruises led by the University of Bergen highlight significant copper potential along the Norwegian Mid-Ocean Ridge •
Slide 12: Grøntua
Grøntua • Grøntua • ~1200 m depth • 150*150 m wide • 60 m high • ~2 km from Deep Insight • Deep Insigth discovered in 2023 • ~1100 m depth • 300*300 m • 150 m high • Cu values • Up to 13% • 5,2 % avg zone ~1 m • Confirms cluster theory New sulphide deposit on the Norwegian continental shelf (NCS) -
Slide 13: Copper is critical
Copper is critical Copper is critical today! | LinkedIn 07.11.2024 13
Slide 14: Ambition: to become a license holder in one of the worlds most attractive copper resources
Ambition: to become a license holder in one of the worlds most attractive copper resources with the lowest use of capital possible. Subsequently: deliver 1,5mt world class quality ore for off-take Strategy: partnership model & asset light • Norway opening 9 January 2024 • Production concept in place
Slide 15: Superior key metrics disrupting the economics of traditional copper mining
SUPERIOR KEY METRICS DISRUPTING THE ECONOMICS OF TRADITIONAL COPPER MINING Economics Economics Environmental Environmental • No infrastructure investment needed • 90% • reduction in environmental 90% reduction footprint* in environmental footprint* • No infrastructure investment needed • CAPEX per t
Slide 16: NCS one GEM HEDSM system – cash profile 2024-2034 (est)
NCS one GEM HEDSM system – cash profile 2024-2034 (est) 07.11.2024 16
Slide 17: Capex & funding - in a partnership model
Capex & funding - in a partnership model* CAPEX Item Project CAPEX GEM Funding Production concept Significant Zero 2 Research cruises AMOR Significant Low Blendability Project Low Negligible DeepMineX Low Zero Exploration CAPEX Significant Zero(pending) Production system Large Zero(pending) * No aut
Slide 18: Summary
Summary Norway 9 January 2024 opening decision derisks business case o GEM invited to nominate license area o GEM in pole position for license win Production concept developed together with globally leading partners and ready VMS/SMS Processing study confirms business plan and adds significant indus
Slide 19: Q&A THANK YOU!
iS GREEN MINERALS 07.11.2024 | ¢