Marimaca Copper Corp. · TSX:MARI
Marimaca Copper — Investor Presentation (March 2022)
30 slides from Marimaca Copper's investor presentation, March 2022
Slide 1: Chile's New Copper Discovery
CHILE’S NEW COPPER DISCOVERY Exceptional Development Project, Outstanding Exploration Potential Investor Presentation | March 2022 TSX: MARI
Slide 2: Disclaimer
Disclaimer This presentation includes certain forward-looking statements about future events and/or financial results which are forward- looking in nature and subject to risks and uncertainties. Such forward-looking statements or information, including but not limited to those with respect to the de
Slide 3: Introduction: Marimaca Copper Project
Introduction: Marimaca Copper Project Marimaca has the potential to be a low capital cost, high margin, copper development Significant oxide copper Outstanding location, tier 1 resource mining jurisdiction Simple, low strip ratio, Identified near mine open pit mining oxide exploration potential copp
Slide 4: Commitment to Sustainability
Marimaca Copper – Commitment to Sustainability Marimaca is committed to creating long-term value for all our stakeholders through integrating ESG best practice into the ongoing development of the Company Transparency & Accountability Constructive Stakeholder Engagement Transparent corporate governan
Slide 5: Marimaca: Green Copper
Marimaca: Green Copper Outstanding ESG positioning with leading carbon-intensity targets Average emission intensity by product, Kg CO2-e / t CuEq – Concentrates vs. SX-EW • The Marimaca Oxide Deposit (“MOD”) benchmarks in the 1st quartile of global copper mine site Scope I Emissions Scope II Emissio
Slide 6: Marimaca Oxide Deposit: An Economic Standout
Marimaca Oxide Deposit: An Economic Standout Marimaca Oxide Project NPV8% and IRR at various Copper Prices Low Upfront Capital Cost1 › US$285m among the lowest in the copper development peer group $1,200 60.0% $1,000 50.0% Bottom 15% of AISC curve2 $800 2020 PEA 40.0% Base Case › Average LOM AISC US
Slide 7: Exploration and Development in Parallel
Marimaca: Exploration and Development in Parallel Exploration focus on Oxides to Expand Marimaca Project Parallel de-risking and development of Marimaca Oxide Project as quickly as possible Project Advancement Exploration Potential Continued de-risking of the MOD Numerous Targets for Growth in Resou
Slide 8: Multiple Catalysts in 2022
Marimaca: Multiple Catalysts in 2022 Exploration and Development in Parallel Commencement of MAMIX MOD Infill & MAMIX Updated Mineral Resource Estimate Anticipated Commencement of Infill & Exploration Drilling Drill Results Planned for Late Q2/Early Q3 Definitive Feasibility Study Q1 2022 Q2 2022 Q3
Slide 9: Marimaca Oxide Deposit: Why is it unique?
Marimaca Oxide Deposit: Why is it unique? Location & access to infrastructure/utilities deliver lower execution risk Antofagasta – 40km Route 1 – National Highway Port of Mejillones – 25km Process Plant Existing 110kV Powerline Existing Seawater Pipeline 7km Open Pit N CHILE’S NEW COPPER DISCOVERY A
Slide 10: MOD: PEA Based on Oxide Resource
MOD: PEA Based on Oxide Resource Mineral Resource Estimate (MRE) updated in Dec ‘19 Depending on cut-off grade: › Nearly 420kt of contained copper in M&I › Nearly 225kt of contained copper in Inferred Represents approx. 100% increase over maiden MRE released April 2018 April 2018 Resources contained
Slide 11: Simple Open Pit Mining
Marimaca Oxides: Simple Open Pit Mining Open pit developed over 8 phases Single continuous pit 900m Significant proportion of the Mineral Resource Estimate is captured within the open pit design in 1,500m the PEA Virtually no pre-strip No capitalized cut-backs during life of mine CHILE’S NEW COPPER
Slide 12: Simple Open Pit Mining
Marimaca Oxides: Simple Open Pit Mining Favorable deposit geometry improves economics Very low strip ratio of 0.84:1 in PEA mine plan › Favorable geometry of ore body has further reduced strip from MRE 1,500m High grade zones from surface › First five years grade is 0.78% CuT › Green oxides with met
Slide 13: Oxide Resource Growth Potential
Marimaca: Oxide Resource Growth Potential Recent MAMIX drilling encountered broad zones of mixed oxide and secondary sulphide mineralization immediately below the limits of the PEA open pit
Slide 14: Strong Resource Growth Potential in MAMIX
MOD: Strong Resource Growth Potential in MAMIX Looking North MAMIX Exploration Target 30-50Mt @ 0.4%-0.5% CuT The potential quantity and grade presented in the exploration target ranges are conceptual and have insufficient exploration and drill density to define a Mineral Resource. At this stage, it
Slide 15: Resource Expansion Opportunities
Marimaca: Resource Expansion Opportunities Strong ‘repetition’ style discovery potential Cindy Target: Geophysics 30-40 Mt at 0.3-0.4% CuT Cindy Roble Target: 20-30 Mt at 0.2-0.3% CuT Roble Mercedes Target: 30-40 Mt at 0.3-0.4% CuT Cedro Roble Geochemistry Nepal Olimpo Mercedes Geology Pele Tarso Ma
Slide 16: Repetition: Broader Regional Potential
Marimaca Repetition: Broader Regional Potential • Attractive “Marimaca” like ground magnetics response extends towards north and south along Naguayan Belt • Most of attractive anomalies towards north are blind targets covered by gravels • New targets, both geophysical (mostly IOCG looking) and geolo
Slide 17: Industry leading capital intensity among greenfield projects
Marimaca Oxide Deposit: Why is it unique? Industry leading capital intensity among greenfield projects Source: Tamesis Partners CHILE’S NEW COPPER DISCOVERY Advancing Development With Further Growth Potential
Slide 18: Expected to be in the lowest 15% of the AISC curve
Marimaca Oxide Deposit: Why is it unique? Expected to be in the lowest 15% of the AISC curve $5.00 $4.50 $4.00 Current LT Consensus Copper Price: US$3.70/lb $3.50 AISC (US$/lb CuEq.) $3.00 $2.50 ~65% Cash Margin $2.00 $1.50 Marimaca $1.00 $0.50 $0.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Cumul
Slide 19: A standout among developers
Marimaca Oxides: A standout among developers Marimaca Oxides provides industry leading ROIC in the development peer universe Source: Raymond James, PEA metrics CHILE’S NEW COPPER DISCOVERY Advancing Development With Further Growth Potential
Slide 20: Low upfront capital and bottom quartile operating cost
Marimaca Oxides: A standout among developers A rare combination of low upfront capital and bottom quartile operating cost $3.5 Los Helados $3.0 Taca Taca Josemaria $2.5 Casino Initial Capex (US$bln) $2.0 Rosemont $1.5 Santo Domingo Cotabambas Ann Mason Filo del Sol Zafranal $1.0 Harper Creek Kamoa-K
Slide 21: Extensive Met Work Completed
Marimaca Oxides: Extensive Met Work Completed Marimaca has completed rigorous met testing on materials across the deposit Tests completed on materials from across the Five phases of met testing full extent of the deposit and addressed all complete defined mineral subzones Addressed all key operating
Slide 22: Simple SX-EW Processing
Marimaca Oxides: Simple SX-EW Processing Marimaca PEA flowsheet CHILE’S NEW COPPER DISCOVERY Advancing Development With Further Growth Potential
Slide 23: Summary
Marimaca: Summary A unique development stage copper asset with exceptional economics in a Tier 1 jurisdiction Outstanding exploration and resource growth potential both at the MOD and on a district scale ‘Green copper’ development project with leading carbon emissions targets High Quality Copper Dev
Slide 24: Appendices
Appendices CHILE’S NEW COPPER DISCOVERY Advancing Development With Further Growth Potential
Slide 25: Experienced Board
Experienced Board Experienced and Leading explorational, Deep experience in invested Board and regional and financial copper and Chile management team experience Michael Haworth Hayden Locke Clive Newall Tim Petterson Non-Executive Chairman CEO, President & Director Non-Executive Director Non-Execut
Slide 26: Experienced Management
Experienced Management Experienced and Leading explorational, Deep experience in invested Board and regional and financial copper and Chile management team experience Hayden Locke Sergio Rivera Petra Decher CEO, President & Vice President of Exploration Chief Financial Officer Director › Over 30 yea
Slide 27: Corporate Structure
Corporate Structure LTM share price performance C$6.00 800,000 700,000 C$5.00 600,000 C$4.00 500,000 C$3.00 400,000 300,000 C$2.00 200,000 C$1.00 100,000 C$0.00 0 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Capital Structure Board Management Stock Excha
Slide 28: Mineral Resource Estimate
Mineral Resource Estimate Measured Indicated Measured + Indicated Inferred Cut-off grade (% CuT) Mineral CuT CuS Mineral CuT CuS Mineral CuT CuS Mineral CuT CuS kt (%) (%) kt (%) (%) kt (%) (%) kt (%) (%) 0.60 9,272 1.00 0.65 18,375 0.91 0.58 26,727 0.95 0.61 12,182 0.90 0.48 0.50 11,397 0.91 0.61 2
Slide 29: Mineral Resource Estimate by Mineralization
Mineral Resource Estimate by Mineralization Mineral CuT CuS CuT CuS Mineral Resource Category (kt) (%) (%) (t) (t) Measured Brochantite 10,890 0.76 0.55 82,418 59,835 Chrysocolla 4,918 0.59 0.45 29,016 22,191 Wad/Black oxides 3,262 0.34 0.20 11,118 6,555 Mixed 475 1.02 0.26 4,865 1,217 Enriched 1,17
Slide 30: Chile's New Copper Discovery
CHILE’S NEW COPPER DISCOVERY Advancing Development With Further Growth Potential