Slide 1: Q2 2022 Results Conference Call
Q2 2022 Q2 2022 Results Conference Conference Call Call August 8, 2022 August 8, 2022 Photo: Mantoverde Development Project (“MVDP”) Cu Thickener and Filtration
Slide 2: Today's Presenters
Today’s Presenters John MacKenzie Raman Randhawa CEO SVP & CFO Cashel Meagher Wendy King SVP Risk, ESG & General President & COO Counsel Jerrold Annett SVP Strategy & Capital Markets CAPSTONE COPPER CORP. | TSX:CS 2
Slide 3: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE ON FORWARD LOOKING INFORMATION This document may contain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (col
Slide 4: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING PRESENTATION OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES As a British Columbia corporation and a “reporting issuer” under Canadian securities laws, we are required to provide disclosure regarding our mineral properties in ac
Slide 5: Q2 2022 Operating Highlights
Q2 2022 Operating Highlights Cu Production C1 Cash Costs1 (kt) (US$/lb Cu) Sulphide Business Pinto Valley2 13.3 $2.82 Cozamin 6.4 $1.25 Mantos Blancos 8.7 $2.49 Total Sulphides 28.4 $2.36 100% of our cathode production in H2 2022 is protected at a weighted Cathode Business avg. price of ~$3.70/lb Ma
Slide 6: 2022 Operating Costs Drivers & Sensitivities
2022 Operating Costs Drivers & Sensitivities 2022E Operating Cost Drivers C1 Cash Cost1 Sensitivity Materials: Processing (grinding, liners, crushing, steels) C1 Cash Costs1 Impact Diesel and lubricants 4% ~$0.06/lb (Consolidated) 11% Sulphuric acid 10% ∆ in Sulphuric Acid Price ~$0.17/lb (Cathode b
Slide 7: Growth Pipeline Prioritization
Growth Pipeline Prioritization Next 24 Months Focused on Delivering our Advanced 1 Stage Growth Projects 2 Future Growth Projects Mantoverde • Commissioning of MVDP (H2 2023) • Phase II FS1 (H2 2023) • Updated SD FS1 including district integration (H2 2023) Santo Domingo • MV-SD district integration
Slide 8: Q2 2022 – Financial Highlights
Q2 2022 – Financial Highlights Q2 2022 A Realized Copper Price • Lower than LME average due to 16.7 kt of copper Production (000s tonnes) 45.2 priced at an average $4.70/lb at March 31, 2022 which final settled or second provisionally invoiced Sales (000s tonnes) 45.5 at lower average prices during
Slide 9: Non-Recourse Project Debt + RCF for Flexibility
Non-Recourse Project Debt + RCF for Flexibility Drawn as at Pro-Forma(3)) US$M (1) Total Facility Size Interest Tenor 30-Jun-22 Debt Revolving Credit $500M Adjusted term SOFR + - $132M(3) 4 years Facility (+$100M accordion) 1.875%-2.75% $520M 9.25-12 years Non-Recourse (+$60M cost over-run LIBOR + 3
Slide 10: Financial Strength to Fund Next Phase of Growth
Financial Strength to Fund Next Phase of Growth Available Liquidity (US$M) EBITDA* (2022E-2024E) Cash & ST Investments Undrawn RCF Capacity ~$1,400 2022 2023 2024 As at 30-Jun-22 Pro-forma** ~$1,200 $350M $350M ~$1,000 $718M $225M EBITDA* $M $368M ~$800 + $100M Accordion ~$600 Capital Structure Over
Slide 11: MVDP Fully Financed and On-track
MVDP Fully Financed and On-track Non-Recourse Project Debt Facility OCF Additional financial flexibility with MMC $60 million cost ~51% of initial overrun facility and capex accrued as recently upsized at 30-Jun-22 $500 million $825M corporate revolving credit facility The Mantoverde Development Pro
Slide 12: 2022 Capital Guidance Reduced by $40 Million
2022 Capital Guidance Reduced by $40 Million Guidance for the 9-Month Period (April 1st – December 31st) A B C D Mantos Santo Pinto Valley Mantoverde* Cozamin Total Blancos Domingo Capital Expenditure ($ millions) Sustaining Capital1 55 20 20 25 - 120 Capitalized Deferred Stripping 5 55 - - - 60 Exp
Slide 13: Mantoverde: Q2 2022 Update
Mantoverde: Q2 2022 Update Q2 2022 Production – Cathodes (000s tonnes) 13.1 C1 cash costs1 (US$/payable lb Cu produced) $3.40 • C1 cash costs1 came in $0.30/lb lower than the mid-point of our 9-month guidance due to strong production and lower acid consumption in the quarter Mantoverde Development P
Slide 14: MVDP Construction Progress – July 2022
MVDP Construction Progress – July 2022 Primary Crushing Ore Stockpile Cu Concentrate Thickening + Filtering Grinding + Flotation First of Three P&H 410XP Shovels Tailings Thickener CAPSTONE COPPER CORP. | TSX:CS 14
Slide 15: MV-SD District Integration Progressing Well
MV-SD District Integration Progressing Well Integration Plan Expected in November 2022 MV Water Pipeline El Salvador MV power transmission line to (Codelco) MV desalination plant Regional Capital Diego de Almagro Santo Domingo Project Town Barquito Port (Codelco) Chañaral Mine Port Mantoverde Mine R
Slide 16: Pinto Valley: Q2 2022 Update
Pinto Valley: Q2 2022 Update Q2 2022 Production (000s tonnes) 13.3 C1 cash costs1 (US$/payable lb Cu produced) $2.82 • Mill throughput averaged 46.8 ktpd during the quarter which was impacted by scheduled maintenance downtime with additional impacts driven by unplanned downtime associated with taili
Slide 17: Cozamin: Q2 2022 Update
Cozamin: Q2 2022 Update Q2 2022 Production (000s tonnes) 6.4 C1 cash costs1 (US$/payable lb Cu produced) $1.25 • Strong production driven by high Cu grades of 1.88% with solid mine performance averaging 3,874 tpd of mill throughput during the quarter • C1 cash costs1 slightly impacted by broader inf
Slide 18: Mantos Blancos: Q2 2022 Update
Mantos Blancos: Q2 2022 Update Q2 2022 Concentrator De-bottlenecking Project (MB-CDP) Production – Sulphides (000s tonnes) 8.7 • Production for the quarter was highlighted by Production – Cathodes (000s tonnes) 3.7 average throughput of 15.2 ktpd with head grades and recoveries of 0.90% and ~70%, re
Slide 19: ESG Initiatives and Community Involvement
ESG Initiatives and Community Involvement Corporate ESG Initiatives Community Involvement Highlights 2021 Sustainability Reports published covering all Capstone Community involvement in Copper performance Chile: • Capstone Mining (GRI, SASB, TCFD) and Mantos Copper (GRI) Social programs focused on s
Slide 20: Improving Asset Quality Across the Portfolio
Improving Asset Quality Across the Portfolio Total Cathode Total Concentrate C1 Costs 100% $3.00 Sulphide production expected to represent ~90% of total production 90% with the inclusion of MVDP and Santo Domingo in production $2.50 80% % of Total Production 70% C1 Costs (US$/lb) $2.00 60% MB-CDP ra
Slide 21: A Clear Path to Permitted Transformational Growth
A Clear Path to Permitted Transformational Growth 1 Transformational Near-Term Growth … Production Growth Profile 500 $3.75 Mantoverde: MVDP sulphide expansion Further Upside with Expansions underway Across the Portfolio Fixed price, turnkey EPC contract with Ausenco 400 ~380kt $3.00 $2.60 Annual Co
Slide 22: Contact
Contact GENERAL ENQUIRIES Capstone Copper Corp. 2100 – 510 West Georgia Street Vancouver, BC - V6B 0M9 Capstonecopper.com info@capstonecopper.com 604-684-8894 Toll-free NA 1-866-684-8894 CAPSTONE COPPER CORP. | TSX : CS MEDIA & INVESTOR ENQUIRIES Jerrold Annett, SVP Strategy & Capital Markets 1-647-