Ivanhoe Electric Inc. · AMEX:IE
Ivanhoe Electric — BMO Global Metals, Mining & Critical Minerals Conference 2024
25 slides from Ivanhoe Electric's conference presentation, February 2024
Slide 1: BMO Global Metals, Mining & Critical Minerals Conference
NYSE/TSX: IE BMO Global Metals, Mining & Critical Minerals Conference February 25 - 28, 2024
Slide 2: Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform
Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform Advancing the high-grade underground Santa Cruz Copper Project in Arizona Proprietary exploration and energy storage technologies Experienced exploration team focused on portfolio of US electric metals pro
Slide 3: Ivanhoe Electric – Delivering Consistent Execution
Ivanhoe Electric – Delivering Consistent Execution BMO 2023 Major Achievements and Milestones BMO 2024+ Santa Cruz Acquired Santa Cruz Land Entered 2024 with Resource Update Strong Operational Closed and Funded Ma’aden JV Momentum and Ma’aden JV Completed ~84k Meters of Drilling at Santa Financial S
Slide 4: Proprietary Technology Platforms – Typhoon, CGI, & VRB
Proprietary Technology Platforms – TyphoonTM, CGI, & VRB Computational TyphoonTM Geosciences Inc. (CGI) Accurate and powerful Advanced data analytics, Proven grid-scale proprietary proprietary geophysical geophysical modeling and battery technology survey technology based on artificial intelligence
Slide 5: Santa Cruz Copper Project: High-Grade Underground Project on Private Land in Arizona
Santa Cruz Copper Project High-Grade Underground Project on Private Land in Arizona 5,975 acres of private land encompassing the entire project Acquired land includes associated water rights Option to acquire all mineral titles contiguous with surface land Excellent access to nearby rail, interstate
Slide 6: Santa Cruz Initial Assessment ("IA")
Santa Cruz Initial Assessment (“IA”) IA focuses on 5.9 Mt / year underground copper mine with small surface footprint • IA only incorporates high-grade exotic, oxide and enriched domains contained in Santa Cruz and East Ridge Deposits Estimated copper production of 1.6 Mt over 20-year mine life (“LO
Slide 7: Santa Cruz Verde Domain – High-Grade Oxide Copper
Santa Cruz Verde Domain – High-Grade Oxide Copper The Verde Domain has higher copper grades and lower water flow rates compared to previous modeling within the Initial Assessment Provides upside potential to the project economics presented in the IA 7
Slide 8: Phased Approach Minimizes Initial Capital Requirements
Phased Approach Minimizes Initial Capital Requirements Twin declines to access high- grade copper mineralization • Each 4.3 km long • 1.9 km extension in Year 8 to access lower portion LOM 105.2 Mt mineralized material mined at 1.58% copper • Santa Cruz: 88.6 Mt at 1.60% copper • Santa Cruz Exotic:
Slide 9: Estimated CO2e per Tonne Copper – "Clean Copper"
Santa Cruz IA: Base Case 70% Renewable Power to Result in Low Estimated CO2e per Tonne Copper – “Clean Copper” 9 Source: Wood Mackenzie; 2023 (single year 2022 data shown, the Santa Cruz 2023 IA has not been reviewed by Wood Mackenzie)
Slide 10: Santa Cruz IA: Potential to be a Significant Copper Producer in the US
Santa Cruz IA: Potential to be a Significant Copper Producer in the US with Low Estimated Operating Costs Santa Cruz ro e ted Copper rodu tion and Costs elative to Other SA Mines ith aid rodu tion reater than Mlbs 10 Source: Wood Mackenzie, 2023 (single year 2022 data shown, the Santa Cruz 2023 IA h
Slide 11: Santa Cruz Initial Assessment: Strong Projected Economics at $3.80/lb Copper
Santa Cruz Initial Assessment Strong Projected Economics at $3.80/lb Copper IA Estimates Initial capex $1.15B, LOM sustaining capex $0.98B $12.9B LOM revenue $5.2B LOM Pre-tax Free Cash Flow $1.6B Pre-tax NPV8%, IRR 25.1% $1.3B After-tax NPV8%, IRR 23.0% 11
Slide 12: Santa Cruz IA: Illustrative NPV Sensitivity
Santa Cruz IA: Illustrative NPV Sensitivity 12
Slide 13: US-Focused Portfolio Provides Exposure to Major Discovery Potential
US-Focused Portfolio Provides Exposure to Major Discovery Potential HOG HEAVEN, MT Cu-Au-Ag TINTIC, UT Cu-Au-Ag 2023/2024 YTD Drilling Project Drill Holes Meters SANTA CRUZ, AZ Santa Cruz 124 83,747 Cu Tintic 11 11,786 Hog Heaven 12 10,729 • Other projects 11 6,063 TOTAL 158 112,325 13
Slide 14: Tintic – Technology Enabled Exploration in a Historic Mining District
Tintic – Technology Enabled Exploration in a Historic Mining District Portland Located on private land in a historic mining district, ND MONTANA 60km south of Bingham Canyon, with similar geologic OREGON characteristics Boise IDAHO Drilling ongoing: 11 holes totaling over 11k meters WYOMING Program
Slide 15: Typhoon Survey Guides Ongoing Exploration for Large Porphyry Systems
TyphoonTM Survey Guides Ongoing Exploration for Large Porphyry Systems TTD-016: 1391 to 1394m strong sulfide mineralization in vein stockworks 15
Slide 16: Exploration Drilling Finds Porphyry System at Sunbeam
Exploration Drilling Finds Porphyry System at Sunbeam Historical mining stopped at the water table, but mineralization is believed to continue to depth 16
Slide 17: Hog Heaven - Potential High-Grade Extensions and Porphyry Source
Hog Heaven - Potential High-Grade Extensions and Porphyry Source The Hog Heaven district consists of several high-sulfidation epithermal mineral deposits and prospects as well as several now-closed mines, including the Flathead Mine Historic Flathead Mine produced high- grade silver with associated
Slide 18: Hog Heaven – Drilling Continues to Expand Mineralized Areas
Hog Heaven – Drilling Continues to Expand Mineralized Areas Drilling at Hog Heaven continues to step out in search of the porphyry source Multiple intersections of the shallow high sulfidation epithermal system continue to expand the footprint of precious and base metal mineralization 18
Slide 19: Ivanhoe Electric & Ma'aden – 50/50 JV to Explore in Saudi Arabia
Ivanhoe Electric & Ma’aden – 50/50 JV to Explore in Saudi Arabia Exclusive access to explore a vast ~48,500 km2 area of the underexplored Arabian Shield in Saudi Arabia $147. million investment by Ma’aden into Ivanhoe Ele tri to fund the JV and Ivanhoe Ele tri ’s S pro e ts • $66 million to fund the
Slide 20: Initial Typhoon Survey Identifies Three Prospective Chargeability Anomalies
Initial Typhoon Survey Identifies Three Prospective Chargeability Anomalies for Subsequent Drill Testing Three chargeability anomalies have been Identified by TyphoonTM on the Umm Ash Shalahib Exploration License to the south of Ma’aden’s Al Amar Gold-Copper-Zinc Mine The Umm Ash Shalahib Typhoon su
Slide 21: Ivanhoe Electric – Significant Institutional and Insider Ownership
Ivanhoe Electric – Significant Institutional and Insider Ownership Public Market Overview Victory BHP Capital Sailingstone 4.3% 3.3% Invesco Current Market Cap: ~$900 million 4.8% 3.1% T. Rowe Price 6.4% Shares Outstanding: ~120 million Fidelity Mgmt. & 12/31/23 Consolidated Cash: ~$205 million Rese
Slide 22: Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform
Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform Advancing the high-grade underground Santa Cruz Copper Project in Arizona Proprietary exploration and energy storage technologies Experienced exploration team focused on portfolio of US electric metals pro
Slide 23: Safe Harbor
Safe Harbor Forward-Looking Statements defective; our business is subject to changes in the prices of copper, gold, silver, nickel, cobalt, vanadium and platinum group metals; we have claims and legal proceedings against one of our subsidiaries; our m h p “f w - k g m ” “f w -looking business is sub
Slide 24: Scientific and Technical Information
Scientific and Technical Information Th I A m “IA” “S-K I A m &T h R p S mm y S z j A z ” is dated September 6, 2023, and was prepared in accordance with Subpart 1300 and Item 601 of Regulation S-K. The IA was prepared by the following firms: SRK Consulting (U.S.), Inc. (SRK), Nordmin Engineering, L
Slide 25: For more information visit www.IvanhoeElectric.com
For more information visit www.IvanhoeElectric.com
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