Slide 1: Q2 2024 Results Conference Call
Q2 2024 Results Conference Call August 1, 2024 Mantoverde Development Project – June 2024 CAPSTONE COPPER CORP. | TSX : CS | ASX : CSC
Slide 2: Cautionary Notes: Mineral Reserve and Resource Estimates
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: Forward Looking Information
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 Jerrold Annett Peter Amelunxen SVP Strategy & Capital Markets SVP Technical Services CAPSTONE COPPER CORP. | TSX:CS | ASX:CSC 4
Slide 5: Q2 2024 Highlights
Q2 2024 Highlights Cu Production C1 Cash Costs1 (tonnes) (US$/lb Cu) Copper Production Inflection Point in H2 2024 Sulphide Business Pinto Valley2 15,994 $2.46 Cozamin 6,152 $1.74 Production Cu Production (kt) inflection point with Mantos Blancos 8,170 $3.43 ramp up at Mantoverde Mantoverde3 58 n/a
Slide 6: Santo Domingo Feasibility Study Key Metrics at a Glance
Key Metrics at a Glance Santo Domingo Feasibility Study $1.7Bn 24% $2.3Bn ~$850M Post-tax NPV(8%) Post-tax IRR Initial Capex; Avg. Annual EBITDA(1) 3 Year Post-tax Payback 29 Cu Copper 19 Year 106kt $0.28/lb +$2Bn Mine Life Avg. Annual Cu Production(1), C1 Cash Costs(1) In-Country Taxes Paid (LOM);
Slide 7: Q2 2024 Financial Highlights
Q2 2024 Financial Highlights Q2 2024 Production (tonnes; contained) 40,937 Realized copper price of $4.53/lb increased 18% q/q and was A slightly above the LME average copper price for the quarter. Sales (tonnes) 39,748 C1 cash costs1 of $2.84/lb were within the H1 guidance range, B Realized copper
Slide 8: Balance Sheet Strength & Financial Flexibility
Balance Sheet Strength & Financial Flexibility Through Next Stage of Growth Available Liquidity*,1 (US$M) Adjusted EBITDA* Sensitivity (US$M) Cash & ST Investments Undrawn RCF Capacity 2024E EBITDA ~$3,000 Annual EBITDA with MVDP Run-rate Production 2 3 ~$2,500 Annual EBITDA with MVDP + Santo Doming
Slide 9: Pinto Valley: Q2 2024 Update
Pinto Valley: Q2 2024 Update Q2 2024 H1 2024 H1 Guidance Copper Production (tonnes) 15,994 31,666 28,000 – 30,000 C1 Cash Cost1 ($/lb) $2.46 $2.50 $2.60 – $2.80 • Cu production increased 26% year-over-year on higher grades and higher throughput; C1 cash costs1 decreased by 17% year-over-year largely
Slide 10: Cozamin: Q2 2024 Update
Cozamin: Q2 2024 Update Q2 2024 H1 2024 H1 Guidance Copper Production (tonnes) 6,152 12,158 11,000 – 12,000 C1 Cash Cost1 ($/lb) $1.74 $1.83 $1.90 – $2.10 • Favourable performance compared to H1 2024 guidance for both production and costs • 14,800 meter exploration program targeting step-outs up-dip
Slide 11: Mantos Blancos: Q2 2024 Update
Mantos Blancos: Q2 2024 Update Q2 2024 H1 2024 H1 Guidance Copper Sulphide Production (tonnes) 8,170 17,333 20,000 – 24,000 Copper Cathode Production (tonnes) 1,900 3,704 3,000 – 4,000 Total Copper Production (000s tonnes) 10,070 21,037 23,000 – 28,000 Sulphide C1 Cash Cost1 ($/lb) $3.43 $3.18 $2.55
Slide 12: Mantoverde: Q2 2024 Update
Mantoverde: Q2 2024 Update Q2 2024 H1 2024 H1 Guidance Copper Sulphide Production (tonnes) 58 58 n/a Copper Cathode Production (tonnes) 8,663 18,139 18,000 – 20,000 Total Copper Production (000s tonnes) 8,721 18,197 18,000 – 20,000 Sulphide C1 Cash Cost1 ($/lb) n/a n/a n/a Cathode C1 Cash Cost1 ($/l
Slide 13: Grinding Circuits
At the SAG and Ball mill, we are focused on increasing Grinding Circuits throughput by improving online time. We have already seen daily throughputs above the nameplate capacity and expect to reach sustained nameplate operating throughput rates within the third quarter. CAPSTONECAPSTONE COPPER COPPE
Slide 14: Flotation Circuits
Flotation Circuits During the second quarter, we commissioned the flotation circuits and produced first saleable copper concentrate at the Mantoverde Development Project. CAPSTONECAPSTONE COPPER COPPER CORP. CORP. | TSX:CS | TSX:CS | ASX:CSC 14
Slide 15: Santo Domingo Feasibility Study
Santo Domingo Feasibility Study Building a World-Class District August 1, 2024 Virtual Tour of Santo Domingo and MV-SD District Click Here
Slide 16: Santo Domingo 2024 FS by the Numbers
Santo Domingo 2024 FS by the Numbers Operating Metrics Metal Price Assumptions & Economics Key Metrics Units Value Metal Price Assumptions Units Value Mine Life Years 19 Copper Price $/lb $4.10 Throughput Capacity ktpd 72 Iron Conc. 62% (CFR China) $/t $85 Strip Ratio (LOM) Ratio 2.5 : 1 Iron Conc.
Slide 17: Competitive Capital Intensity
Competitive Capital Intensity Less than 1,500 meters above sea level With Few Recent Large Scale Cu Feasibility Studies Elevation (meters above sea level) Initial Capital Cost – Santo Domingo Capital Intensity Benchmarking (US$’000/t) (1) Area Cost ($M) % of Total ~4,000 ~3,500 ~200 ~900 ~1,250 ~2,3
Slide 18: Long Mine Life with a Robust Production Profile
Long Mine Life with a Robust Production Profile Copper (kt) Iron Ore (kt) Commodity Mix: LOM(1) Average Cu Production: ~68kt Commodity Mix: First 7 Years(1) Average C1 Cash Costs: $0.33/lb ~66% 200 ~74% Average Cu Production: 106kt 180 Average C1 Cash Costs: $0.28/lb ~34% ~26% 160 CuEq. Production (
Slide 19: District Copper Resources
District Copper Resources Driving Mine Life Extension & Optimization Potential Location: Region III, Chile Orientation: North Diego de Almagro Elevation: ~1,000 masl Sierra Norte (100%) Property Claim Boundary • Exploration stage Road Infrastructure • Potential Santo Domingo sulphide feed with explo
Slide 20: Sustainability Q2 Developments
Sustainability Q2 Developments Pinto Valley signed a Letter of Commitment formalizing its participation in the Copper Mark assurance process with the goal of achieving the Copper Mark by June 2026. We published our first Modern Slavery Report in May 2024. Modern Slavery training will be rolled o
Slide 21: 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 22: Upcoming Catalysts
Upcoming Catalysts Sector leading near-term copper growth 2025 followed by further capital efficient expansion opportunities across the • MV-O Execution portfolio. • MB Phase II Study • PV District Growth Study • Preparing for Santo Q4 2024 Domingo Sanctioning Decision • Chile Analyst & Investor Sit
Slide 23: 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
Slide 24: Appendix
Appendix CAPSTONE COPPER CORP. | TSX:CS | ASX:CSC 24
Slide 25: Sierra Norte Historical Mineral Resources
Sierra Norte Historical Mineral Resources Notes: Category Tonnes (Mt) CuT % CuS % Copper (kt) The Historical Mineral Resource was derived from the report “Actualización del Modelo Geológico y de la Estimación de Recursos Minerales del Proyecto Diego de Almagro” completed by Amec Foster Carmen-Paulin