Slide 1: Securing high-quality long term molybdenum supply for the EU Green Deal
"Securing high-quality long term molybdenum supply for the EU Green Deal from a responsible EU associate source” www.greenlandresources.ca
Slide 2: Responsible mining can significantly improve peoples' lives
We know from our previous projects that responsible mining can significantly improve peoples’ lives Page 1 of 23
Slide 3: Project Highlights
PROJECT HIGHLIGHTS q World Class Climax-type molybdenum (Mo) deposit with copper in East Greenland ü Strategic EU Project supported by EIT Raw Materials / ERMA ü Mo is used in all green energy technologies ü Awarded the 2023 Prospector and Developer of the year by the Greenland government q EU curre
Slide 4: Greenland – An Attractive Mining Jurisdiction
GREENLAND – AN ATTRACTIVE MINING JURISDICTION ü Autonomous country within the Kingdom of Denmark (AAA S&P credit rating) ü Ranked Greenland as Global #1 in “Current Malmbjerg (2,650 Km) Mineral Potential Index” ü Member of the European Raw Material Alliance ü State-of-the-art University and School o
Slide 5: Molybdenum Market Statistics
MOLYBDENUM MARKET STATISTICS MOLYBDENUM APPLICATIONS REGIONAL PRODUCTION & USE Nickel Alloys Tool Steels 3% Million pounds of Molybdenum Content 8% 2023 Mo-Metal Region 5% Production Use Engineering Steel North America 113 83 Foundries 8% 38% South America 168 14 Europe - 125 Chemicals China 282 279
Slide 6: Western Production Is Continuously Decreasing
WESTERN PRODUCTION IS CONTINUOUSLY DECREASING Annual Production Evolution of Key Western Moly Producers S elected Wes tern Mo Producers 2019 2020 2021 2022 2023 2023 2023 Production Producer YoY % YoY % YoY % YoY % YoY % mlbs Comments Freeport McMoR an (US A, Peru) -5.3 -15.5 11.8 0 -1.53 83.7 12% b
Slide 7: Malmbjerg Video
MALMBJERG VIDEO https://greenlandresources.ca/data/video/Malmbjerg-Final-Cut-HighRes-65.mp4 Page 6 of 23
Slide 8: Mine Plan – Low Environmental Impact
MINE PLAN – LOW ENVIRONMENTAL IMPACT q Open pit mine with the primary crusher onsite; ore transport of 35,000 t/d by 26km aerial rope conveyor with no CO2 generation; processing on landed barges (no greenfield development) at Mestersvig Inlet, a natural deep draft harbor where process facility and m
Slide 9: From Mine to Market
FROM MINE TO MARKET Mined Ore Crushing Grinding • Primary processing on site Flotation in Greenland Leaching Molybdenite Concentrate MoS2 Roasting Roasted Molybdenite Concentrate (Technical Mo Oxide) • Secondary processing by existing partners in EU locations Purification Smelting • Respective agree
Slide 10: Feasibility Study Highlights
FEASIBILITY STUDY HIGHLIGHTS (NI 43-101 Feasibility Study Malmbjerg, February 2022) q Initial Capex US$820M q Mineral Reserves 245 Mt ; 0.176% MoS2 av. grade containing 571Mlb of Mo metal* q Production years 1-10 of 32.8 Mlb per year of Mo metal av grade 0.23% MoS2 q Production 20 year LOM of 24.1 M
Slide 11: NPV & IRR Sensitivity
NPV & IRR SENSITIVITY (NI 43-101 FEASIBILITY STUDY MALMBJERG, FEBRUARY 2022) AFTER TAX SENSITIVITY NPV6% AND IRR TO CHANGES IN US$ MO PRICES MOLYBDENUM PRICE EVOLUTION (2006-2023) FOR LEVERED CASE (60/40% - DEBT/EQUITY) NPV@ 6% IRR Spot Mo (02/22/22) Molybdenum price $/lb 2,500 Levered 46.5% 50% Cas
Slide 12: Circular Economy
Rope Conveyor 🇦🇹 (Austria) US$200M, 180 Molybdenum 🇬🇱 processed / sold: indirect jobs ; FLS 🇩🇰 (Denmark) Mining equipment ü 🇪🇺 Molymet (Belgium) to process RMC, FeMo, PurOx, etc. ü Ropes 3,400 tons / 130 km + Belting 2,900 CIRCULAR ECONOMY tons / 43,5 km sourced from: ContiTech ü 🇪🇺…
Slide 13: Mineral Reserves Grade and Emissions – Comparables
MINERAL RESERVES GRADE AND EMISSIONS - COMPARABLES 0.18% Malmbjerg Scope 1+2 lb CO2-eq/lb Mo % lower of CO2-eq/lb Mo emissions vs 0.16% comparable mines 0.14% Fuel scenario 10.78 -35% Green Power Scenario 4.46 -73% 0.12% Grade (% Mo) 0.10% 0.08% ü High ore grade requiring lower number of beneficiati
Slide 14: Why Molybdenum Is Vital for EU Industries
WHY MOLYBDENUM IS VITAL FOR EU INDUSTRIES q The EU market using molybdenum already exists: ü The EU is the world’s second largest consumer of molybdenum and has no molybdenum ü Steel needs molybdenum and EU steel dependent industries represent around 18% of the EU GDP ü Molybdenum is used in all gre
Slide 15: Global Metals Production and Resource Scenario
GLOBAL METALS PRODUCTION AND RESOURCE SCENARIO Estimate of Ultimately Available Material UCA (ppm) Resources (million t) Aluminum 81,000 10,000,000 Iron 48,000 6,000,000 Magnesium 23,000 2,000,000 Titanium 4,900 600,000 Manganese 890 100,000 Rare-earth elements 170 20,000 Vanadium 130 20,000 Chromiu
Slide 16: Molybdenum Production & Reserve Estimates
MOLYBDENUM PRODUCTION & RESERVE ESTIMATES World Mo production evolution Minable reserve estimates Mo world production (mt of Mo content) ü 19.4 million mt • Identified reserves by USGS 2017 ü 60 million mt • “Not unreasonable upper limit” of global molybdenum resources, based on the total amount of
Slide 17: Carbon Footprint of Specialty Metals
CARBON FOOTPRINT OF SPECIALTY METALS Molybdenum industry average carbon footprint (acc. to IMOA) ü 4.96 per ton RMC (~60% Mo) ü 5.04 per ton RMC briquette (~59% Mo) ü 8.04 per ton FeMo (~67% Mo) ü Mo by-product mines allocate most of their emissions to the copper production Page 16 of 23
Slide 18: Europe's Metallurgical Industry Needs Molybdenum
EUROPE’S METALLURGICAL INDUSTRY NEEDS MOLYBDENUM q High-performance steels & specialty metals: q Key strategic product benefits: ü Represent largest European Molybdenum use (>80%) ü Ultra-high strength ü Better low-temperature toughness ü Molybdenum has large variety of metallurgical ü High temperat
Slide 19: Molybdenum Alloyed High Strength Steel – A Win-Win Situation
MOLYBDENUM ALLOYED HIGH STRENGTH STEEL – IT’S A WIN-WIN SITUATION ! Weight saving potential of structural Scope 3 CO2 intake to steel by high strength steel over mild steel molybdenum alloying: Mo alloying range 0.10-0.30 wt.% = adding 1.5 – 4.5 kg FeMo/tsteel CO2 avoidance potential in most conserv
Slide 20: Relevance of Moly in Low-Carbon Power Generation
RELEVANCE OF MOLY IN LOW-CARBON POWER GENERATION Annual consumption (2023 – Power generation technology Mo kg/MW 2030) Hydropower 3 Wind (design dependent) 99-119 up to13,000 tpy Mo Solar thermal parabolic trough ~200 Solar thermal central tower ~50 Solar PV (Si wafer) 0 Solar PV (CdTe) 5 ~65 tpy Mo
Slide 21: Molybdenum Is Powering Wind Turbines
MOLYBDENUM IS POWERING WIND TURBINES Direct drive technology Based on permanent magnets Large consumption of rare earth elements: Approx. 200 kg Nd and Pr per MW Geared drive train ü Vestas is the world’s largest wind turbine supplier! Based on carburizing steels • Installed capacity >183 GW Key all
Slide 22: Green H2, Power-to-L, Bio-fuel: Catalyzed by Moly
GREEN H2, POWER-TO-L, BIO-FUEL: CATALYZED BY MOLY q Production of 1 kg H2 consumes: ü ~55 kWh of electricity ü ~9 liters of fresh water q Green H2 plants in the sun & wind belts requires water desalination plants using duplex stainless steels with up to 6% Mo ü Moly-alloyed steels for tanks, pressur
Slide 23: 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 24: 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