Investor Presentation May 2013 - Northland Resources

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Balance Sheet per 31 December As at December 31, As at December 31, 2012 2011 2012 2011 USD '000 USD '000 USD '000 USD '000 Assets Equity and liabilities Non-current assets Shareholders' equity Exploration and evaluation assets 80 054 64 165 Share capital 50 425 21 592 M ines under construction 678 079 236 794 Share premium 662 591 388 576 Property, plant and equipment 235 262 9 345 Reserves 36 213 29 452 Intangible assets 910 1 241 Cumulative losses (124 713) (99 907) Financial assets 49 427 27 632 Total equity 624 516 339 713 Total non-current assets 1 043 732 339 177 Non-current liabilities Current assets Borrowings 358 131 4 302 Inventories 5 928 - Finance lease obligations 17 937 - Accounts receivable 19 689 17 291 Provisions 28 758 327 Other current assets 65 302 23 979 Other non-current liabilities 7 536 - Cash and cash equivalents 53 739 38 324 Total non-current liabilities 412 362 4 629 Total current assets 144 658 79 594 Total assets 1 188 390 418 771 Current liabilities Trade and other payables 146 485 74 008 Finance lease obligations 3 789 - Income tax liability 1 238 421 Total current liabilities 151 512 74 429 Total equity and liabilities 1 188 390 418 771 66
Kaunisvaara Mineral Reserve Statement Deposit Reserve Classification Ore (million DMT) Fe Grade (%) Tapuli Sahavaara Proven 51.7 27.14 Probable 42.8 25.32 Proven 30.2 42.96 Probable 40.2 40.17 Tapuli Whittle Pit Shell from Kaunisvaara DFS (June 1, 2011) Total Proven 81.9 32.98 Total Probable 83.0 32.51 Total 164.9 32.74 Note: The Mineral Reserve Statement generated by SRK Consulting (UK) Limited (“SRK”), based on the Mineral Reserve Statement made public in the June 1, 2011 Technical Report. SRK’s resource and reserve statements are presented in accordance with the definitions and guidelines of the CIM Standards for reporting Mineral <strong>Resources</strong> and Reserves (the CIM Code) Sahavaara Whittle Pit Shell from Kaunisvaara DFS (June 1, 2011) 67
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STRICTLY PRIVATE & CONFIDENTIAL THI
Page 3 and 4:
Disclaimer (cont’d) This Presenta
Page 5 and 6:
Key Risk Factors Relating to the Gr
Page 7 and 8:
Transaction Background • Budget p
Page 9 and 10:
Indicative Commercial Terms of the
Page 11 and 12:
Funding Sources and Capital Structu
Page 13 and 14:
Governance Changes to Give Creditor
Page 15 and 16: Northland in Transition from Projec
Page 17 and 18: Agenda Investment thesis Northland
Page 19 and 20: Northland is listed in Oslo Share o
Page 21 and 22: First concentrate from Kaunisvaara
Page 23 and 24: Kaunisvaara Project Overview Kaunis
Page 25 and 26: Production to Reach 4 dmtpa in Q3 2
Page 27 and 28: Strong Logistics Partners Ramping U
Page 29 and 30: Kaunisvaara Premium Concentrate Exp
Page 31 and 32: Potential production upside Upgrade
Page 33 and 34: Further Growth Potential - Hannukai
Page 35 and 36: Update on Operating Cost Expectatio
Page 37 and 38: Projected Capital Expenditure Until
Page 39 and 40: Sources and Uses starting 1 Jan 201
Page 41 and 42: Budget Assumptions in a Historical
Page 43 and 44: Forecast Iron Ore Supply Being Revi
Page 45 and 46: Kaunisvaara Concentrate - Quality L
Page 47 and 48: Risk Factors Risks related to the p
Page 49 and 50: Risk Factors (cont’d) Risks relat
Page 51 and 52: Risk Factors (cont’d) Litigation
Page 53 and 54: Risk Factors (cont’d) Other risks
Page 55 and 56: Risk Factors (cont’d) Other risks
Page 61 and 62: Northland expected to emerge from R
Page 63 and 64: Main terms of the restructuring of
Page 65: Profit & Loss Statement 2012 Year e
Page 69 and 70: Management Team Executive Team Karl
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