OAX: NOM Company presentation June 2016 Exploration and production of high-end minerals and metals Nordic Mining ASA | N-0250 Oslo | Norway | Tel + 47 22 94 77 90 | Fax + 47 22 94 77 01 | Org. no 989 796 739 | post@nordicmining.com
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Developing high-value assets in the Nordic Region Platinum, Palladium Titanium - natural rutile High Purity Quartz Lithium Seabed minerals 3
Li Pd Pt 4 Electric cars Clean air Minerals for a sustainable future Si Ti Lighter aircrafts Renew able energy
Rights Issue opens 9 June 2016 Purpose to finance PFS for the Engebø rutile project as the next value- adding milestone* • Rights Issue of up to 170,000,000 Offer Shares • Subscription price NOK 0.50 per Offer Share • Proceeds from the Rights Issue; in total up to NOK 85 million will be used primarily to complete the Pre-Feasibility Study for the Engebø rutile project, targeted completion in Q1 2017 • The PFS activities will include e.g. mine planning, processing test work and optimisation, planning of infrastructure incl. process water and hydroelectric power, cost estimations of Capex/ Opex, and financial analysis • A revised resource model with resource estimations and classifications in accordance with the JORC Code will be completed in Q3 2016 • Subscription period from 9 June until 23 June 2016 at 16: 30 (CET) • Trading period for Subscription Rights from 9 June until 21 June 2016 at 16: 30 (CET) 5 Note ( * ) : Please refer to the Prospectus dated 7 June 2 0 1 6 for further inform ation.
Engebø titanium One of the world’s largest deposits of natural rutile Has the highest grade among current producers and projects Impurities at background levels Located next to tidal waters and European markets Permitted for 50 years of operation Garnet as valuable by-product 6
JORC resource of 154M tonnes @ 3.77% TiO 2 Historical estimate of 383M tonnes @ 3.96% TiO 2 7
Well-defined deposit Core sample drilling completed in April 2016 Total of 87 exploration and geo-tech drill holes JORC Resource* Resource class Mill tonnes TiO 2 % @ JORC 3 % cut-off Indicated 31.7 3.77 Inferred 122.6 3.75 Total 1 5 4 .3 3 .7 7 A total of 21,400 meters drilled 1,129 surface samples > 50 000 TiO 2 analysis Block model - ordinary kriging Considerable JORC compliant resource estimate with upside potential 8 Note (*): Refer to Scoping Study by Wheeler and Dowdell for resource statements
Engebø is among the largest rutile deposits in the world Rutile projects’ grade and target production 4,50% Engebø 4,00% 3,50% Murray Basin 3,00% Rutile ( % ) Cerro Blanco 2,50% 2,00% Sierra Rutile 1,50% Coburn Donald 1,00% Planning Ranobe Kwale 0,50% Moma Construction 0,00% Production -0,50% Grande Cote -1,00% 0 50 100 150 200 250 Production ( Ktpa) Size of bubble indicates resource size 9 Source: Company websites
The highest rutile grade and lowest impurity content Rutile grade for current feedstock producers and planned projects Engebø 3.77% Murray Basin ‐ Iluka 2.32% Cerro Blanco 2.10% Akonolinga (Years 1 ‐ 6) 1.66% Project Producer Sierra Rutile 1.42% Akonolinga 1.15% Kwale 0.65% Snapper 0.59% Donald 0.37% Gingko 0.35% Cyclone 0.29% Thorium in Ti feedstocks Uranium in Ti feedstocks ppm ppm 1000 100 Perth Basin ‐ Iluka 0.27% 100 Fairbreeze 0.22% 10 Jacinth ‐ Ambrosia 0.20% 10 Max Max Min Min 1 Namakwa 0.20% 1 0.84 Mindarie Zircon 0.16% 0.21 0.1 0.1 Ilmenite Sulphate Chloride Synthetic Rutile Engebø Ilmenite Sulphate Chloride Synthetic Rutile Engebø Stradbroke 0.13% slag slag rutile rutile slag slag rutile rutile High grade ore with low impurities brings processing benefits and premium pricing 10 Source: Company websites, “Production of titanium dioxide” (2007) by Fahli and Martin ‐ Matarranza
European pigment majors will be future customers Regional, stable supply brings customer benefits Substantial freight reduction compared to existing supply Plant-to-plant shipment Simple logistics improve working capital, storage and planning Several European customers can each take Engebø’s annual production World’s largest rutile producers Large pigment plants for high grade feedstock Com pany Plant location Country Huntsman Greatham UK * ) assumed production from Engebø Tioxide Cristal Global Stallinborough UK Kronos Gent / Belgium / Leverkusen Germany Tronox Rotterdam Netherlands Significant supply deficit in Europe makes regional rutile production attractive 11
Why is rutile an attractive mineral? • Has unique opacity and reflection characteristics • Environmentally friendly, and the most effective pigment component • Biocompathible, gives no reactions from the human body • Effective reflection of UV radiation • Becomes a strong, light and 100% non-corrosive metal 12
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