Leading Edge Materials (LEM) Nordic Funds & Mines Conference 2024 summary

Portfolio overview and strategy

• Focused on critical raw materials projects within the European Union, including graphite in Sweden, rare earths in Sweden, and nickel/cobalt exploration in Romania.

• Leadership team with significant mining experience and strong insider ownership at 41%.

• Listed on Toronto and Stockholm exchanges, with a market cap just under CAD 25 million and 225 million shares issued.

• Emphasis on supporting EU efforts to onshore supply chains for critical materials.

• No current plans to expand beyond the three main projects; focus remains on advancing existing assets.

Project updates and development plans

• Woxna graphite mine in Sweden is built and permitted, with a 2021 scoping study showing strong economics; currently evaluating commercialization options.

• Norra Kärr rare earth project is Europe's most advanced heavy rare earth project, with recent application for Strategic Project status and upcoming mining lease application.

• Bihor Sud in Romania is an active exploration project with recent high-grade nickel and cobalt results and ongoing underground drilling.

• Norra Kärr project redesign has simplified operations, decoupling mining from downstream processing and reducing environmental impact.

• Strategic Project status from the EU could accelerate permitting to a 27-month timeline and improve access to capital.

Market context and sustainability

• EU's Critical Raw Materials Act aims to diversify supply and reduce reliance on China for key materials.

• Woxna's anode materials project has a significantly lower carbon footprint than Chinese or synthetic graphite, but market adoption is slow.

• Norra Kärr's heavy rare earths are vital for green technologies and defense, with a strong economic case and potential for further resource expansion.

• Project redesign at Norra Kärr has reduced land use by 65% and water consumption by 30%, increasing sustainability.

• Life cycle assessments show both Woxna and Norra Kärr projects have leading environmental profiles compared to global competitors.