Northern Minerals Limited · ASX:NTU
Northern Minerals — Investor Presentation (July 2023)
23 slides from Northern Minerals's investor presentation, Jul 11, 2023
Slide 1: Becoming an important supplier of heavy rare earths
For personal use only Becoming an important supplier of heavy rare earths Company Presentation July 2023
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is dated 11 July 2023 and has been prepared by Northern Minerals Limited (ACN 119 966 353) (“NTU”, “Northern Minerals” or the “Company”). By attending an investor presentation or briefing, or accepting, accessing or reviewing this Presentation, you ackno
Slide 3: Disclaimer
Disclaimer Past performance Past performance, including past share price performance of Northern Minerals and historical financial information if provided in this Presentation, is provided for illustrative purposes only and should not be relied upon as (and is not) an indication of Northern Minerals
Slide 4: Investment Highlights
Investment Highlights Northern Minerals’ assets sit within a uniquely Dy and Tb rich mineral setting in the Kimberley (Browns Range), with significant resource growth prospectivity Refocused following a strategic review with a clear pathway towards production, now 1 For personal use only focused on
Slide 5: Clear Pathway to Production
Clear Pathway to Production Northern Minerals has conducted a strategic review of the business led by Executive Chair, Nick Curtis, and has mapped a clear path forward to production Company timeline For personal use only Pilot Plant Nick Curtis appointed Executive Moving forward toward FID ASX listi
Slide 6: The Northern Minerals Proposition
The Northern Minerals Proposition Northern Minerals’ assets sit within a uniquely Dy and Tb rich mineral setting in the Kimberley (Browns Range), with significant resource growth prospectivity • Owned project for ~16 years • Pilot plant operations Structural Geology Existing Near Mine • ~$73m of exp
Slide 7: Wolverine Deeps Extension Drilling Program
Wolverine Deeps Extension Drilling Program Ob Objective • Test direction of plunge and grade at depth • Drilling completed in May 2023 For personal use only Outcome • Western line of holes closes off mineralization to the west • Plunge steeper than anticipated • Significant mineralisation potentiall
Slide 8: Proposed Wolverine Resource Definition Drilling
Proposed Wolverine Resource Definition Drilling Proposed Program • Convert Inferred Mineral Resource to Indicated For personal use only • Seeking to convert 1.99Mt @ 1.25% TREO for 24,900 t contained TREO • If economic, allows Indicated Mineral Resources to be converted to Probable Reserves • Target
Slide 9: Moving Wolverine Towards Production
Moving Wolverine Towards Production Ore Sorter at Browns Range Pilot Plant Strategic objective to bring the Browns Range Project (Wolverine deposit) into production and focus on being a producer of REOs, critical in high For personal use only performance magnet production Highly experienced team del
Slide 10: Mining
Mining Commencing with open pit, transition to Sub Level Retreat (SLR) • Focus on Wolverine for DFS update DFS Pit Existing • Mining production rate 910,000 t / year for 8+ years Trial Pit • Start with a cut back of the existing trial pit to a larger open pit ~125m For personal use only deep (same a
Slide 11: Processing IP from Pilot Plant
Processing IP from Pilot Plant 1,140t of concentrate has already been produced at the target grade through the pilot plant – it is the same material from the same orebody For personal use only • The ore is enriched in xenotime within a predominantly quartz and mica host rock • The proposed crusher a
Slide 12: Operations & Proposed Layout
Operations & Proposed Layout Pilot Plant operations enabled establishment of key base operational requirements • Airstrip, offices and a worker’s village • Gravel access roads to the mine and around the mine site • Power supply come from diesel generators, solar panels and possibly wind For personal
Slide 13: Debt Financing Progress
Debt Financing Progress Dialogue with NAIF and EFA for Browns Range financing progresses Engagement has commenced with both commercial financiers and the 1 Browns Range For personal use only Northern Australian Infrastructure Facility (NAIF) to work towards securing debt financing for Browns Range N
Slide 14: Regulatory Approvals Summary
Regulatory Approvals Summary All Primary approvals in place to achieve FID 5 May 2017 DMIRS Approval of Browns Range Rare Earths Project - For personal use only Pilot Plant Trial mining Proposal- M80/627 - L80/76 Feasibility Study 2014 2017 2018 2022 2023 20 October 2014 11 July 2018 Submission of L
Slide 15: Market Opportunity
Market Opportunity The inflection towards electrification and decarbonisation is undoubted – permanent magnets play a critical role in the realisation of these processes which creates strong long-term demand for key magnet minerals Dysprosium and Terbium are critical minerals in World NdFeB Magnet D
Slide 16: Iluka Supply Agreement
Iluka Supply Agreement Northern Minerals Strategic Partnership with Tier 1 partner Iluka Resources • TREO Supply Agreement signed with Iluka Resources covering current known Mineral Resource over initial 8+ year mine life (30.5k tonnes of contained TREO in concentrate) from Browns Range to complemen
Slide 17: Iluka Supply Agreement
Iluka Supply Agreement Northern Minerals Strategic Partnership with Tier 1 partner Iluka Resources • Northern Minerals to produce Xenotime concentrate from its Browns Range Project and sell to Iluka for use in its Eneabba Pricing mechanism illustration Refinery • Proposed annual production to be del
Slide 18: NTU Corporate Snapshot
NTU Corporate Snapshot Market Cap Share Price1 Shares on issue Options Cash2 A$178m A$0.035m 5.07b 251m $16.2m For personal use only Share Price Performance $0.06 30.0m $0.05 25.0m $0.04 20.0m Share Price Volume $0.03 15.0m $0.02 10.0m $0.01 5.0m $0.00 0.0m Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Source:
Slide 19: Management Executing Refocused Strategy
Management Executing Refocused Strategy Northern Minerals is led by Executive Chairman, Nick Curtis, with extensive experience in Rare Earths Nick Curtis - Executive Chairman • 35+ years experience in mining and finance, with 25+ years of RE experience. • Previous Executive Chairman of Lynas Corpora
Slide 20: Board of Directors
Board of Directors Nick Curtis - Executive Chairman • 35+ years experience in mining and finance, with 25+ years of RE experience. • Previous Executive Chairman of Lynas Corporation (ASX:LYC), after taking control of the company in 2001, he refocused it as a rare earths company developing the Mt Wel
Slide 21: Summary
For personal use only Aiming to be a leading ex-China supplier of Dysprosium and Terbium, which have strong demand tailwinds from global electrification Strategic partnership with Iluka de-risks and accelerates the project Summary development via a supply agreement and reduced project complexity Sig
Slide 22: Appendix A: Mineral Resource
Appendix A: Mineral Resource Global Mineral Resource Estimate (October 2022)1,2 Browns Range Project Overview Deposit Classification Mt TREO Dy2O3 Y 2 O3 Tb4O7 HREO TREO % kg/t kg/t kg/t % kg • The Project is located in the East Kimberley region of Western Australia, Wolverine Measured 0.14 0.7 0.61
Slide 23: Contact
Contact Northern Minerals For personal use only Nicholas Curtis AM Executive Chairman +61 411 425 784 Jane Morgan Management Jane Morgan Investor Relations Manager +61 405 555 618
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