Slide 1: Q3 2024 Results Conference Call
Q3 2024 Results Conference Call October 31, 2024 Mantoverde Development Project in Chile CAPSTONE COPPER CORP. | TSX : CS | ASX : CSC
Slide 2: 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 3: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE REGARDING 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 19
Slide 4: Today's Attendees
Today’s Attendees John MacKenzie Raman Randhawa CEO SVP & CFO Cashel Meagher Wendy King SVP Risk, ESG & General President & COO Counsel Peter Amelunxen Daniel Sampieri Director, Investor Relations & SVP Technical Services Strategic Analysis CAPSTONE COPPER CORP. | TSX:CS | ASX:CSC 4
Slide 5: Q3 2024 Highlights
Q3 2024 Highlights Cu Production C1 Cash Costs1 Sulphide Business (tonnes) (US$/lb Cu) Pinto Valley2 13,980 $2.92 Cozamin 6,025 $1.82 Mantos Blancos 8,246 $3.40 Mantoverde3 8,139 $2.52 Total Sulphides 36,390 $2.76 Cathode Business Mantos Blancos 1,728 $3.44 Mantoverde3 9,342 $3.00 Total Cathodes 11,
Slide 6: MV-O Key Metrics at a Glance
MV-O Key Metrics at a Glance Mantoverde Optimized Feasibility Study (Brownfield expansion) $2.9Bn $146M +$600M +$300M Post-tax NPV(8%) at $4.10/lb LT Cu; Initial Capex for Brownfield Avg. Annual EBITDA(2) Avg. Annual After-tax Free Cash $3.6Bn NPV(8%) at +10% Cu Prices(1) Expansion Opportunity Flow
Slide 7: Q3 2024 Financial Highlights
Q3 2024 Financial Highlights Q3 2024 Production (tonnes; contained) 47,460 Copper sales of 44,684 tonnes below payable production driven A by the ramp-up of MVDP. Sales (tonnes) A 44,684 Realized copper price of $4.24/lb decreased 18% q/q and was B slightly above the LME average copper price for the
Slide 8: Balance Sheet Strength & Financial Flexibility
Balance Sheet Strength & Financial Flexibility Through Next Stage of Growth Available Liquidity*,1 (US$M) Adjusted EBITDA* Sensitivity (US$M) Cash & ST Investments Undrawn RCF Capacity 2024E EBITDA ~$3,000 2 Annual EBITDA with MVDP Run-rate Production ~$2,500 Annual EBITDA with MV-O + Santo Domingo
Slide 9: Pinto Valley: Q3 2024 Update
Pinto Valley: Q3 2024 Update Q3 2024 YTD 2024 Copper Production (tonnes) 13,980 45,646 C1 Cash Cost1 ($/lb) $2.92 $2.63 • Cu production increased 3% y/y, although quarterly throughput was impacted by 10 days of unplanned downtime due to a conveyor belt rip and electrical faults • C1 cash costs1 in Q
Slide 10: Cozamin: Q3 2024 Update
Cozamin: Q3 2024 Update Q3 2024 YTD 2024 Copper Production (tonnes) 6,025 18,183 C1 Cash Cost1 ($/lb) $1.82 $1.83 • Consistent performance with production and C1 cash costs1 trending well compared to 2024 asset level guidance ranges • 14,800 meter exploration program targeting step-outs up-dip and d
Slide 11: Mantos Blancos: Q3 2024 Update
Mantos Blancos: Q3 2024 Update Q3 2024 YTD 2024 Copper Sulphide Production (tonnes) 8,246 25,579 Copper Cathode Production (tonnes) 1,728 5,432 Total Copper Production (000s tonnes) 9,974 31,011 Sulphide C1 Cash Cost1 ($/lb) $3.40 $3.26 Cathode C1 Cash Cost1 ($/lb) $3.44 $3.33 Combined C1 Cash Cost1
Slide 12: Mantoverde: Q3 2024 Update
Mantoverde: Q3 2024 Update Q3 2024 YTD 2024 Copper Sulphide Production (tonnes) 8,139 8,197 Copper Cathode Production (tonnes) 9,342 27,481 Total Copper Production (tonnes) 17,481 35,678 Total Gold Production (ounces) 3,858 3,858 Sulphide C1 Cash Cost1 ($/lb) $2.52 $2.52 Cathode C1 Cash Cost1 ($/lb)
Slide 13: Mantoverde Optimized Feasibility Study
Mantoverde Optimized Feasibility Study Capital Efficient, Near-term Growth
Slide 14: Mantoverde Optimized FS by the Numbers
Mantoverde Optimized FS by the Numbers Operating Metrics Metal Price & Marketing Assumptions Key Metrics Units Value Assumptions Units 2025 2026 2027 LT Mine Life Years 25 Copper Price $/lb $4.30 $4.40 $4.40 $4.10 Throughput Capacity ktpd 45 Gold Price $/oz $2,200 $2,100 $2,000 $1,800 Strip Ratio (L
Slide 15: MV-O (2024) vs. MVDP (2021) Feasibility Study
MV-O (2024) vs. MVDP (2021) Feasibility Study Mine Life (Years) Mill Throughput (ktpd) Mill Feed (Mt) & Head Grade (%) Strip Ratio (w:o) 25 45 ktpd 394Mt 2.7:1 19 32 ktpd 236Mt 2.1:1 0.49% 0.60% MVDP MV-O MVDP MV-O MVDP MV-O MVDP MV-O Avg. Annual Cu Production (ktpa) C1 Cash Costs ($/lb) Sustaining
Slide 16: Very Attractive Capital Intensity With Few Recent Cu Feasibility Studies
Very Attractive Capital Intensity Less than 1,500 meters above sea level With Few Recent Cu Feasibility Studies Elevation (meters above sea level) Expansionary Capital Cost – MV Optimized Capital Intensity Benchmarking (US$’000/t) (1) Area Cost ($M) % of Total ~4,000 ~3,500 ~200 ~900 ~1,250 ~2,300 ~
Slide 17: MV-SD: Annual District Copper Production Potential
MV-SD Annual District Copper Production Potential of ~250kt Potential 10 Year District Copper Production Profile District Mineralization 271 Santo Domingo (kt) Copper Occurrences Iron Occurrences Mantoverde (kt) C1 Costs ($/lb) 236 227 218 204 $2.05 197 142 $1.87 $1.81 91 115 Sierra Norte $1.67 95 $
Slide 18: Sustainability Q3 Developments
Sustainability Q3 Developments Community Office for the Santo Domingo Project was inaugurated in Diego de Almagro to engage local residents. Mantos Blancos celebrated 20th anniversary of its partnership with the Universidad Católica del Norte (UCN) Delta program aimed at developing the talent an
Slide 19: A Clear Path to Transformational Growth
A Clear Path to Transformational Growth Further Upside with Expansions Across the Portfolio Including MB Phase II, MV-SD Cobalt, and MV Phase II 500 MV Optimized $3.75 +20kt Cu ~400kt Annual Copper Production (kt) 400 $3.00 C1 Cash Cost2 (US$/lb) ~260kt SANTO DOMINGO 300 $2.25 200 164kt $1.50 MANTOV
Slide 20: Upcoming Catalysts
Upcoming Catalysts Sector leading near-term copper growth H2 2025 followed by further capital efficient expansion opportunities across the • MV-O Execution portfolio. • MB Phase II Study • PV District Growth Study • Santo Domingo Financing H1 2025 & Sanctioning Readiness • MV-O DIA Permit • SD Partn
Slide 21: Contact
Contact GENERAL ENQUIRIES Capstone Copper Corp. 2100 – 510 West Georgia Street CAPSTONE COPPER CORP. | TSX : CS | ASX:CSC Vancouver, BC - V6B 0M9 Capstonecopper.com info@capstonecopper.com 604-684-8894 Toll-free NA 1-866-684-8894 MEDIA & INVESTOR ENQUIRIES Daniel Sampieri, Director, Investor Relatio