Slide 1: Q1 2024 Results Conference Call
Q1 2024 Results Conference Call May 2, 2024 Mantoverde Development Project – March 2024 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 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 | ASX:CSC 4
Slide 5: Q1 2024 Highlights
Q1 2024 Highlights Cu Production C1 Cash Costs1 Sulphide Business (tonnes) (US$/lb Cu) Pinto Valley2 15,672 $2.53 Cozamin 6,006 $1.93 Mantos Blancos 9,163 $2.98 Total Sulphides 30,841 $2.55 Cathode Business Mantos Blancos 1,804 $3.43 Mantoverde3 9,476 $3.82 Total Cathodes 11,280 $3.76 Consolidated C
Slide 6: Q1 2024 Financial Highlights
Q1 2024 Financial Highlights Q1 2024 Production (tonnes; contained) 42,121 Realized copper price of $3.85/lb was largely in line with the A LME average copper price for the quarter. Sales (tonnes) 40,996 C1 cash costs1 of $2.88/lb were slightly above our H1 guidance B Realized copper price1 ($/lb) A
Slide 7: 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 ~$3,000 2 Annual EBITDA with MVDP Run-rate Production Annual EBITDA with MVDP + Santo Domingo Run-rate
Slide 8: Pinto Valley: Q1 2024 Update
Pinto Valley: Q1 2024 Update Q1 2024 Copper Production (tonnes) 15,672 C1 Cash Cost1 (US$/payable lb Cu produced) $2.53 • Cu production increased 22% year-over-year on higher grades and slightly higher throughput • C1 cash costs1 decreased by 18% year-over-year largely driven by higher production •
Slide 9: Cozamin: Q1 2024 Update
Cozamin: Q1 2024 Update Q1 2024 Copper Production (tonnes) 6,006 C1 Cash Cost1 (US$/payable lb Cu produced) $1.93 • Production up 15% year-over-year while costs increased by 12% due to a stronger Mexican Peso and additional use of cut-and-fill mining method resulting in higher contractor costs • Exp
Slide 10: Mantos Blancos: Q1 2024 Update
Mantos Blancos: Q1 2024 Update Q1 2024 Copper Sulphide Production (tonnes) 9,163 Copper Cathode Production (tonnes) 1,804 Total Copper Production (000s tonnes) 10,967 Sulphide C1 Cash Cost1 (US$/payable lb Cu produced) $2.98 Cathode C1 Cash Cost1 (US$/payable lb Cu produced) $3.43 Combined C1 Cash C
Slide 11: Mantoverde: Q1 2024 Update
Mantoverde: Q1 2024 Update Q1 2024 Copper Cathode Production (tonnes) 9,476 C1 Cash Cost1 (US$/payable lb Cu produced) $3.82 • Cathode production increased 11% year-over-year, while costs were 5% lower • Mantoverde Development Project on track with first ore to the grinding circuit achieved in Q1 an
Slide 12: Mining at Mantoverde
Mining at Mantoverde Assembly of the fourth Komatsu P&H 4100 XPC Electric Rope Shovel at MVDP. The three previously assembled electric shovels commenced operation in 2023 and have led to the stockpiling of over 5 million tonnes of sulphide ore. CAPSTONECAPSTONE COPPER COPPER CORP. CORP. | TSX:CS | T
Slide 13: Grinding & Flotation Circuits
Grinding & Flotation Circuits The SAG and Ball mills have throughput capacity of up to 45,000 tonnes per day. First ore to the grinding circuit was achieved during the first quarter. CAPSTONECAPSTONE COPPER COPPER CORP. CORP. | TSX:CS | TSX:CS | ASX:CSC 13
Slide 14: Tailings Storage Facility
Tailings Storage Facility The tailings storage facility has been sized to support MVDP. The area has the potential to accommodate expansions at Mantoverde. CAPSTONECAPSTONE COPPER COPPER CORP. CORP. | TSX:CS | TSX:CS | ASX:CSC 14
Slide 15: Desalination Plant
Desalination Plant The existing desalination plant (located on the coast 40km west of Mantoverde) was built in 2014 and was expanded for the MVDP. CAPSTONECAPSTONE COPPER COPPER CORP. CORP. | TSX:CS | TSX:CS | ASX:CSC 15
Slide 16: New Exploration Program
New Exploration Program Initial Two-Year $25M Exploration Program • Targeting higher copper grades 6 N Estrellita 5 • Exploring new areas adjacent or inside the Santo Domingo current Mantoverde pits 4 • Testing high priority targets in the northern Northern area of Mantoverde land package 3 Corridor
Slide 17: New Exploration Program Near Mine Targets
New Exploration Program Drill Testing Sulphide Targets Near Mine Targets Inside the Resource Pit Mantoverde Near Mine Exploration Manto N Santa Clara Ruso E Corridor 5 • Explore new areas with potential to add new resources within or beside the 4 resource pit D C • Explore continuity along Santa Cla
Slide 18: Sustainability Q1 Developments
Sustainability Q1 Developments At Mantos Blancos, 100% of 2023 electricity use was covered by renewable energy certified sources (International REC Standard). Targeting 50% renewable electricity in Chile by 2025 and >90% renewable electricity across Capstone by 2030. MV and MB received ISO 50001
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 $3.75 MV Optimized Potential +20kt Cu ~400kt Annual Copper Production (kt) 400 $3.00 C1 Cash Cost2 (US$/lb) 300 ~260kt SANTO DOMINGO $2.25 200 164kt $1
Slide 20: Upcoming Catalysts
Upcoming Catalysts Sector leading near-term copper growth 2025 followed by further capital efficient expansion opportunities across the • MB Phase II Study portfolio. • PV District Growth Study • Potential Santo Domingo Project Sanctioning H2 2024 • MVDP achieves nameplate operating rates • MV-SD Co
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 Jerrold Annett, SVP, Strategy & Capital Mar