Green Minerals AS · OSL:GEM
Green Minerals AS — Investor Presentation (November 2020)
41 slides from Green Minerals AS's investor presentation, Nov 24, 2020
Slide 1: Investor presentation
Investor presentation 24 November 2020
Slide 2: Disclaimer
DISCLAIMER This company presentation (the "Presentation") has been prepared by Green Minerals AS (the “Issuer“ or the “Company”) solely for use in connection with a contemplated offering of new equity by the Company (the “Equity" and the “Equity Issue") as described herein. For the purposes of this
Slide 3: Risk Factors
RISK FACTORS The Company is exposed to numerous risk factors. A brief summary of a selection of material risk factors is outlined below. All potential investors should read the presented risk factors in its entirety before making a decision on whether to invest in the Shares. An investment in the Sh
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS • Pursuing a NOK 700bn opportunity • Targeting key minerals vital to electrification and digitization A pioneer in offshore mining and a leader in • Sharply lowering the environmental footprint and eliminating the social costs in the mining industry Marine Minerals on the Norwe
Slide 5: Transaction
TRANSACTION • Green Minerals AS (GM) – Currently 100 % owned subsidiary by Seabird Exploration, Plc (SBX) • A minimum of MNOK 30 in new capital to be raised in the Offering following meetings with Norwegian Petroleum Directorate and Ministry of Petroleum and Energy – Pre money valuation to be MNOK 9
Slide 6: Term Sheet
TERM SHEET Issuer: Green Minerals AS (the “Company”) with business registration number 925 852 481 Shares outstanding: At the time of the share issue the number of shares outstanding will be 10.000.000 shares, each with a par value of NOK 0,003 Pre money market cap: NOK 90 – 110 million based on the
Slide 7: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets 7
Slide 8: Rationale for Mining of Marine Minerals
RATIONALE FOR MINING OF MARINE MINERALS DEMAND ENVIRONMENTAL Massive need for new source of metals as the world Burning fossil fuels emits 37bn tons CO2 pa electrifies and digital technology becomes available Metal production generates 350bn tons of waste to more consumers Accounts for 11 %
Slide 9: Supporting Key EU Development Goals
SUPPORTING 6 KEY EU DEVELOPMENT GOALS Providing Fighting child Creating Reducing Enabling Reducing minerals for labor while sustainable waste CO2 deforestation the green creating Rare Earth generation reduction transition sustainable Elements and enabling being key jobs and (REE) and companies´ elem
Slide 10: Marine Minerals versus Onshore Minerals
MARINE MINERALS VERSUS ONSHORE MINERALS Deep-sea mining will be able to meet the increased metals demand in a much better way socially and environmentally than onshore mining is capable of. Source: World Bank / Rystad Source: «Metals for the green transition» Paulikas et al, 2020 10
Slide 11: Marine Minerals in the News
MARINE MINERALS IN THE NEWS 11
Slide 12: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets 12
Slide 13: Our Mission
OUR MISSION Our mission is to enable the worlds drive towards digitization and electrification We do this by extraction of Marine Minerals and Rare Earth Elements which are key to the green shift driven by new technologies Deep sea mining helps eliminate the huge social cost in onshore mining (Amnes
Slide 14: Our Strategic Goals
OUR STRATEGIC GOALS Short term Green Minerals to be recognized as a pioneer in offshore mining and a leader in Marine Minerals Medium term Green Minerals to win licenses to survey, explore and produce Marine Minerals on the Norwegian Shelf, thereby capitalizing on a NOK 700bn worth of resource poten
Slide 15: Partners and Affiliations
PARTNERS AND AFFILIATIONS • Exploration – Seabird Exploration (parent) – Geological/Geophysical data collection – 20 years of offshore exploration • Subsea – riser – mechanical lifting system • Mining – seafloor production system – floating production unit – onshore processing • Battery producers –
Slide 16: Our Team
OUR TEAM Ståle Rodahl Øivind A Dahl-Stamnes Gunnar Jansen Ronny Tømmerbakke Executive Chairman CEO Board member Chief Geophysicist Green Minerals AS Seabird Exploration, Plc. Green Minerals AS Seabird Exploration, Plc. • 30 years in the financial industry • Geologist from NTH • 20 years in shipping,
Slide 17: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets 17
Slide 18: What & Where
WHAT & WHERE Examples of Typical Occurrance: Metals and REE´s v Poly-metallic Nodules (Ocean Floor) v Nodules SMS Crusts Seafloor Massive Sulfides (SMS)(Mid Ocean Ridges) v Iron Iron Iron Ferromanganese Crusts (Plateaus/Ridges) v Manganese Manganese Lead Zinc Barium Copper Copper Copper Cobalt Cobal
Slide 19: Mineral Usage & Importance
MINERAL USAGE & IMPORTANCE Marine Minerals and RRE´s are critical in the Examples Metal/REE usage in Renewable Energy industry and in modern Renewable Energy/Technology technologies and electric/electronic appliances 3-4x more Cu in EV vs. ICV (1) • Lithium, Nickel, Cobalt, Manganese, Zinc • Key ele
Slide 20: Geopolitical Issues
GEOPOLITICAL ISSUES • Key minerals vital for EU and USA high-tech industry and the green shift, are being produced in regions that are not conducive of stable supply Global Global 2019 (1) • US DOI defines 35 minerals critical to US national security Metal/REE Key Producers Production (K Reserves YE
Slide 21: Key Environmental Issues
KEY ENVIRONMENTAL ISSUES • Offshore Production Issues – Plume/dust cloud from mining operations may affecting seafloor fauna – Sound from mining operations may affect marine mammals and fish • Onshore Processing Issues – Local risk for pollution; Waste, water-run off and chemicals • Key issues will
Slide 22: Typical Minerals on the NCS
TYPICAL MINERALS ON THE NCS • SMS and Crusts found in several locations SMS Crusts in the Norwegian Sea Iron Iron • UiB, Research activity for 2 decades Barium Manganese • NPDs data sampling programs 2018, 2019, 2020 Copper (Copper) Zinc Titanium • SMS samples rich in Cobalt Cobalt • Copper, up to 1
Slide 23: Mineral Value Potential on NCS
MINERAL VALUE POTENTIAL ON NCS • Mohns & Knipovich Ridges (1030 km) • Play Assessment similar to standards used in Oil & Gas * • Mean Resource estimate for key Metals in SMS deposits in Mohns & Knipovich ridges • 6,9M tons Cu • 7,1M tons Zn • 175 tons Au • 10,5K tons Ag • Estimated Value ** • 77 bil
Slide 24: Value Potential Mohns Ridge
VALUE POTENTIAL MOHNS RIDGE One ”SMS” deposit - 5M tons Mohns Ridge Active SMS examples – 250x250x30m • SW: Jan Mayen Vents: <1 % Cu, 10% Zn – Gross value: ca. 1,5 Billion USD • Mid: NPD 73N; 6-7% Cu, 2-2,5% Zn • NE: Loki Castle; 1-1,5 % Cu, 0,5-1 % Zn Illustration, Pedersen, UiB 24
Slide 25: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets 25
Slide 26: The Seabed Minerals Act
THE SEABED MINERALS ACT • A prerequisite for a predictable and stable framework for commercial exploitation • Act Ratified by the Storting in February 2019, Effective 1. July 2019 • Jurisdiction: Norwegian Continental Shelf and territorial waters outside Jan Mayen, Svalbard and Bouvetøya • State own
Slide 27: NCS Production License Process (MPE/NPD)
NCS PRODUCTION LICENSE PROCESS (MPE/NPD) The Seabed Minerals Act Production license State ownership • Up to 10 years Consequence Analysis • Exclusive rights Survey license • Work Program • Extension possible • Norwegian Company Public Hearing • Up to 5 years • Non-Exclusive • Collect data/samples •
Slide 28: NCS – Tentative Timeline – Production License
NCS – TENTATIVE TIMELINE – PRODUCTION LICENSE State ownership Consequence Analysis Public Hearing Opening of Areas 2019 2020 2023 The Seabed Minerals Act Opening process started Opening approved approved MPD/NPD preparing Plan for CA Survey license License Round Application Production Award 2023 202
Slide 29: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets 29
Slide 30: Exploration Techniques and Tools
EXPLORATION TECHNIQUES AND TOOLS Technology mostly known and commercially available • Satellite imaging • Bathymetry (Multi-beam, Side Scan Sonar) • Electromagnetic Surveys • Magnetomerty • Water chemistry • Hyper spectral imaging • High resolution seismic • Sampling (coring, surface etc.) 30
Slide 31: Production Components and functions
Production Components and functions 1. Seafloor Mining Tools – Trencher/Feed system or – Crawler/Crusher/Feed system to: – Dig out, Collect, Crush and Feed ore to Vertical transport system 2. Vertical Transport – Mechanical lifting system or – Riser/slurry or air-based pumping system to – Transport
Slide 32: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets 32
Slide 33: Aspirational Targets
ASPIRATIONAL TARGETS Example: other industry calc, only for illustration purpose • Exploration – Granted Survey License within 3 months after opening One Green Minerals production – Awarded 3 Production Licenses by early 2024 system: – Minimum one discovery of SMS with +5m tonnes of ore by YE 2024/2
Slide 34: Agenda
AGENDA • Marine Minerals – new resource of critical metals • Green Minerals – vision & team • Resources and locations AGENDA • Resource management • Technology • Aspirational targets • Appendix 34
Slide 35: Production Components - Examples
PRODUCTION COMPONENTS - EXAMPLES System Component Mining South Africa/Namibia: Diamond mining in 40-150m water depth system in • Large diameter drilling (7,2m), conventional drill string, heave compensation and electrical operations powered Crawler Since 90íes • Air Lift or Centrifugal Pump – slurry
Slide 36: On Further Engineering Work: O&G Technological Achievements
ON FURTHER ENGINEERING WORK: O&G – EXAMPLES TECHNOLOGICAL ACHIEVEMENTS Drilling, Subsea and Riser Technology • From single deviated production wells in the 70és multi branched wells (3-4 branches) with horizontal sections/completions each up to 7000+ m – Geo-steering (+/- 0,5 m accuracy), branch c
Slide 37: Processing Techniques / Land Based Activity
PROCESSING TECHNIQUES / LAND BASED ACTIVITY • Technology known and available in the mining industry – Milling/crushing (reduce particle size) – Physical separation (separate by density, magnetism and similar) – Flotation (water repellant or not) – Leaching (chemical) often used for gold, silver, nic
Slide 38: Occurence on the NCS
OCCURENCE ON THE NCS Photo, Pedersen, UiB Ellefmo;Søreide, NTNU • Seafloor Massive Sulfides (SMS) – Spreading axis/Mid Ocean Ridges – Hydrothermal origin – Active/inactive “Smokers” – “black smokers”; higher temp - Cu rich – “white smokers”; lower Temp - Zn rich • Ferromanganese Crust (next page) •
Slide 39: Occurence on Ferromanganese Crusts (2001-2016)
OCCURENCE ON FERROMANGANESE CRUSTS (2001-2016) 1m Ferromanganese CRUST • Plateaus and Ridges with low/no sedimentation • Chemical precipitation from seawater over millions of years Illustrations/photos, Pedersen, UiB 39
Slide 40: Global Prospecting for Marine Minerals
GLOBAL PROSPECTING FOR MARINE MINERALS History • Research on Marine Minerals/REE since late 1950íes • Prospecting since the 1970íes – step-up after 2000 • First mining operation early 2020íes: Papa New Guinea, Current Activity Japan, Pacific Ocean? • Pacific Ocean • Clarion- Clipperton • Rep. of Nar
Slide 41: Green Minerals AS
Green Minerals AS Sandviksbodene 68 5035 Bergen www.greenminerals.no Ståle Rodahl Executive Chairman Ph: +47 4840 0593 41
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