Highland Copper Co., Inc. · TSXV:HI
Highland Copper — Investor Presentation (February 2024)
35 slides from Highland Copper's investor presentation, Feb 1, 2024
Slide 1: A Permitted Michigan Copper Story
TSX.V: HI OTCQB: HDRSF A Permitted Michigan Copper Story Corporate Presentation 2024
Slide 2: Disclaimer
Disclaimer Cautionary Statement The reader is advised that a PEA is preliminary in nature and is intended to provide only an initial, high-level review of the Project potential and design options. The PEA mine plan and economic model include numerous The data contained herein is provided for informa
Slide 3: Our future is electric.
Our future is electric. The right time. The right place. The right way. Highland Copper’s timing could not be better. What sets our two projects apart is their location. When it comes to ESG, we’ve got all the bases With the energy transition (electrification) We have strong support at every level:
Slide 4: Copper in the Headlines
Copper in the Headlines Highland Copper Corporate Presentation 4
Slide 5: Key Highlights
Key Highlights Tier 1 US Location with focus on domestic US Location copper supply Copperwood fully-permitted, Permits in Hand White Pine advancing Multi-billion pound copper resource with Resource Scale growth upside Long-Lived Potential for consolidated 25+ year life of mine Liquidity available fo
Slide 6: Aligned with Michigan
Aligned with Michigan State Permitting Potential State Supply to Michigan Community OEM Investment Process on SOAR Funding Industry Support in Miners Private Land Highland Copper Corporate Presentation 6
Slide 7: A Clear Path for 2024
A Clear Path for 2024 Copperwood Project White Pine North Project Advancing toward construction Advancing toward permits and Feasibility study 30 kt annually for initial 11 years 41 kt annually for initial 21 years Fully permitted and FS complete Several key permits received Early site works 2023 Up
Slide 8: Multi-Billion Dollar Resource Base
Multi-Billion Dollar Resource Base 1.9 Billion Pounds Inferred 2.2 Billion Pounds Inferred (79.1 million tonnes at 1.09%) (97.2 million tonnes at 1.03%) 1.8 Billion Pounds M&I 3.2 Billion Pounds M&I (54.2 million tonnes at 1.51%) (133.4 million tonnes at 1.07%) Copperwood Project White Pine North Pr
Slide 9: Benefits of State-Run Process
Benefits of State-Run Process Copperwood White Pine Permit Type Project North Project Part 31: Water Resource Protection, NPDES Permit Part 315: Dam Safety Permit Part 325: Great Lake Submerged Land Permit Part 303: Wetland Protection Part 301: Inland Lakes and Streams Part 55: Air Discharge (curren
Slide 10: Kinterra Transaction Highlights
Kinterra Transaction Highlights US$30 Million Investment for Additional US$30 Million JV Kinterra to provide 66% of White Pine North, Funds Commitment to Fund White US$10 Million Unsecured Available for Copperwood Pine North Loan for Highland Funds mainly allocated to initiate Advance White Pine per
Slide 11: Deal Rationale
Deal Rationale Copperwood Retain control of fully-permitted, 100%-owned Copperwood Provide US$30 million funding to advance Copperwood toward production White Pine North Right-size capital requirements on larger, longer-dated White Pine North Provide additional US$30 million to fund White Pine permi
Slide 12: Our Projects
Our Projects Pro Forma Highland Copper 100% Copperwood 34% White Pine North Metric* 2023 Feasibility Study 2023 PEA $168 m After-tax NPV 8 @ $4.00 Copper $279 m $333 m After-tax NPV 8 @ $4.50 Copper $402 m 1.8 B lbs Measured & Indicated Contained Copper 1.2 B lbs 1.9 B lbs Inferred Contained Copper
Slide 13: Responsible Mining
Responsible Mining Environment At Highland Copper, we are committed to environmental stewardship and to designing, developing, operating, and eventually closing our sites in a highly responsible manner. Through our projects in Michigan, we strive to develop a source of responsibly produced domestic
Slide 14: Copperwood Project
Copperwood Project Highland Copper Corporate Presentation 14
Slide 15: Project Highlights
Project Highlights Fully Permitted Project The project has obtained all required permits and is ready to move into construction (pending construction decision and project financing). Outstanding Community Support The project has received resolutions of support from all townships within Gogebic Count
Slide 16: LOM Match to Demand Imbalance
LOM Match to Demand Imbalance US Refined Copper Usage and Production: Rocky Road Scenario Copperwood life of mine coincides directly with peak US copper supply and demand imbalance Fully-permitted status allows Highland to take advantage of near-term production and cash flow at Copperwood Highland C
Slide 17: Site Work Update
Site Work Update Key Site Impacts All work completed timely to meet permit obligations Zero lost time incidents, zero reportable environmental incidents Work completed on time and on budget Pictured: East Stream Diversion Highland Copper Corporate Presentation 17
Slide 18: Key Environmental Mitigations
Key Environmental Mitigations Initiated all key environmental mitigations Required to construct 2-3 acres of new Hydroseeding of all to meet permit obligations, work ongoing wetland to mitigate for 1 impacted acre impacted wetland Newly Constructed Wetland Hydroseeded Wetland Highland Copper Corpora
Slide 19: Building License to Operate
Building License to Operate Employment & Townships & Counties State Authorities Development Partners Ongoing community engagement Department of Environment, through townhalls, attendance at Great Lakes, and Energy local meetings Department of Natural Resources Highland Copper Corporate Presentation
Slide 20: Project Opportunities
Project Opportunities Opportunities to increase project Further leverage to copper price* value include: Cu Price NPV 0% NPV 8% IRR Payback Life of mine additions, converting 79 million ($/lb) ($M) ($M) (%) (Years) inferred tonnes 5.00 1,013 507 33.4 2.0 Bulk ore sorting technology 4.50 729 333 25.6
Slide 21: White Pine North Project
White Pine North Project Highland Copper Corporate Presentation 21
Slide 22: Project Highlights
Project Highlights Strong JV Partner for Development Project development plan for the White Pine North project is supported by Kinterra’s financial and technical strength. Permitting Managed by Michigan The mine permitting process, rigorously managed by the state, follows established timelines for k
Slide 23: PEA Highlights (100%)
PEA Highlights (100%)* $821 million 20.8% 1.33 After-tax NPV 8% After-tax IRR NPV / Initial Capex 22 year life of mine $615 million $1.63 / lb 5.7 B lbs Initial Capital1 Operating Cost Contained Copper2 Highland Copper Corporate Presentation *All figures $USD 1Net of $265 million pre-production reve
Slide 24: Available Infrastructure
Available Infrastructure Pictured here is the historic White Pine Mine owned by Subterra and Slag Dump North Tailings Basin I PM Power Group. White Pine North grounds partially shown in photo. Former Cu Smelter Former Process Plant Mine Portal Cu Refinery Power Plant Office Rail Access Road Access H
Slide 25: Investor Information
Investor Information Highland Copper Corporate Presentation 25
Slide 26: Backing from Key Mining Funds
Backing from Key Mining Funds* 28% 31% Orion Mine Finance Other Shareholders 16% Condire Investors 1% 16% Management and Directors Greenstone Resources L.P. 2% 6% Dundee Precious Metals Osisko Gold Royalties Highland Copper Corporate Presentation * 736 million shares outstanding. 23 million options
Slide 27: Highland Copper's 2023 Achievements
Highland Copper’s 2023 Achievements Issued updated Copperwood FS Incorporated revised water source in Copperwood FS Issued White Pine North PEA Completed JV with Kinterra, funded both assets Completed Copperwood site work, permits maintained Initiated Copperwood value creation Highland Copper Corpor
Slide 28: Key Catalysts
Key Catalysts Copperwood Project White Pine North Project Corporate On-going site early works Environmental baselining and permit Potential State & Federal funding Value creation initiatives applications Potential Industry Partnerships Project Funding & Construction Decision Drilling programs Define
Slide 29: Appendix
Appendix Highland Copper Corporate Presentation 29
Slide 30: Board and Management
Board and Management Barry O’Shea Jonathan Cherry David Tennant Interim CEO (Former Former Partner M&A CEO, Polymet Mining Corp. CFO Fiore Gold) McCarthy Tetrault LLP Jo Mark Zurel Melanie Miller Stephen Hicks Chair (Former Board Former GM Hemlo Member Canadian CEO, JM Longyear Mine Barrick Pension
Slide 31: Michigan Vision
Michigan Vision Copper Ore Mined in Michigan Copper Cathode Produced in Michigan Copper Shipped Directly to Michigan Industry Copper Used in US Electric Vehicles All Jobs & Economic Benefit in Michigan Highland Copper Corporate Presentation 31
Slide 32: Mineral Reserves Estimate
Mineral Reserves Estimate* Tonnes Cu Grade Ag Grade Cu Contained Ag Contained Copperwood (MT) (%) (g/t) (M lbs) (M oz) Proven 18.2 1.49 4.47 597 2.6 Probable 7.5 1.34 2.56 222 0.6 Proven & Probable 25.7 1.45 3.91 820 3.2 Notes on Mineral Reserve Estimates: 1) The Mineral Reserves were estimated usin
Slide 33: Mineral Resource Estimate
Mineral Resource Estimate* Copper Silver Copper Silver Notes on Mineral Resources: 1) Mineral Resources are reported Resource Tonnage using a copper price of $4.00/lb and a silver price of $25/oz. Deposits Grade Grade Contained Contained Category (M t) 2) A payable rate of 96.5% for copper and 90% f
Slide 34: Mineral Resource Estimate
Mineral Resource Estimate* Silver Copper Silver Resource Tonnage Copper Grade Ore Column Grade Contained Contained Category (M t) (%) (g/t) (M lbs) (M oz) Indicated 37.8 1.03 10.1 857 12.3 Full Column (3 m) Inferred 0 - - 0 0 Indicated 112.8 1.06 14.6 2,640 53.1 Parting Shale (2 m) Inferred 96.4 1.0
Slide 35: www.highlandcopper.com info@highlandcopper.com Registered Office
Registered Office Mailing Address Project Office Royal Centre, 1055 West Georgia St, Highland Copper Company Inc. Copperwood Resources Inc. www.highlandcopper.com 310 US Highway 2, Suite B Suite 1500 9160 Leduc Boulevard Quartier info@highlandcopper.com Vancouver, British Columbia Dix30, Suite 410 W
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