Investor Presentaiton
+ SUPPLY/DEMAND DYNAMICS SUPPORT PRICE APPRECIATION
Natural Anode Active Material - DDP China, $/t (Real terms)
16,000
Natural - high capacity
Natural - medium capacity
14,000
Natural - low capacity
Anode
Price
12,000
10,000
Forecast
8,000
Source : Benchmark Mineral Intelligence
6,000
4,000
T
T
T
2,000
2020
2025
2030
2035
2040
Long-term prices expected to rise
» NMG expected to benefit from
future higher prices
-
Each 2% increase in price corresponds to
~10% gain in project IRR based on 2022
Integrated Feasibility Study
>> Potential for a North American
premium over China
-
-
-
Reduced geopolitical risk.
Carbon-neutral footprint.
+ Direct impact on manufacturers' Scope 3 emissions
- Logistical savings
Less capital needed for inventories
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+ 24 +
PROPRIETARY & CONFIDENTIAL
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