Slide 1: Q3 2022 Results Conference Call October 31, 2022
Q3 2022 Results Conference Call October 31, 2022 Mantoverde Development Project Construction CAPSTONE COPPER CORP. | TSX : CS
Slide 2: 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 2
Slide 3: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE ON 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 1995 (col
Slide 4: 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 5: Q3 2022 Operating Highlights
Q3 2022 Operating Highlights Cu Production C1 Cash Costs1 Sulphide Business (kt) (US$/lb Cu) Pinto Valley2 14.1 $2.60 Cozamin 6.4 $1.20 Mantos Blancos 9.6 $2.17 Total Sulphides 30.1 $2.17 Cathode Business Mantos Blancos 4.0 $3.87 Mantoverde3 11.6 $3.87 Total Cathodes 15.6 $3.87 First of Four Komatsu
Slide 6: Re-iterating Consolidated Guidance Range
Re-iterating Consolidated Guidance Range Guidance for the 9-Month Period (April 1st – December 31st) Cu Production C1 Cash Costs1 ✓ • Expect improved concentrator throughput levels in Q4 at both Pinto Valley and Mantos Blancos (kt) (US$/lb Cu) • Mantos Blancos averaged above designed Sulphide Busine
Slide 7: Q3 2022 – Financial Highlights
Q3 2022 – Financial Highlights Q3 2022 A Realized Copper Price Production (000s tonnes) 45.7 • Lower than LME average due to: Sales (000s tonnes) 44.2 • 29.7 kt of copper priced at an average $3.75/lb at June 30th which final settled at lower average prices during Q3; and, • 34.6 kt of copper provis
Slide 8: Prudent Balance Sheet Management
Prudent Balance Sheet Management Available Liquidity1 (US$M) 2023 Cu Hedging in Place* Cash & ST Investments Undrawn RCF Capacity Undrawn on $520M Project Debt Facility Mantoverde Project 20 kt Forward price of $3.43/lb Finance Forwards Corporate Forwards Weighted average forward price of 37 kt + $1
Slide 9: Pinto Valley: Q3 2022 Update
Pinto Valley: Q3 2022 Update Q3 2022 Production (000s tonnes) 14.1 C1 Cash Cost1 (US$/payable lb Cu produced) $2.60 • Throughput impacted by downtime for water and tailings infrastructure • C1 cash costs1 impacted by higher operating costs and TCRCs, partially offset by higher copper production and
Slide 10: Cozamin: Q3 2022 Update
Cozamin: Q3 2022 Update Q3 2022 Production (000s tonnes) 6.4 C1 Cash Cost1 (US$/payable lb Cu produced) $1.20 • Strong quarterly production driven by throughput of 3.8 ktpd, Cu grades of 1.86% and recoveries of 96.8% • C1 cash costs1 impacted by lower by-product credits from lower zinc production an
Slide 11: Mantos Blancos: Q3 2022 Update
Mantos Blancos: Q3 2022 Update Q3 2022 Sulphide Production (000s tonnes) 9.6 Cathode Production (000s tonnes) 4.0 Total Production (000s tonnes) 13.6 Sulphide C1 Cash Cost1 (US$/payable lb Cu produced) $2.17 Cathode C1 Cash Cost1 (US$/payable lb Cu produced) $3.87 Combined C1 Cash Cost1 (US$/payable
Slide 12: Mantoverde: Q3 2022 Update
Mantoverde: Q3 2022 Update Q3 2022 Cathode Production (000s tonnes) 11.6 C1 Cash Cost1 (US$/payable lb Cu produced) $3.87 • C1 cash costs1 higher due to elevated sulphuric acid costs - prices easing and expected to benefit MV in 2023 Mantoverde Development Project (“MVDP”) Progress Update • Overall
Slide 13: MVDP Construction Progress – October 2022
MVDP Construction Progress – October 2022 Primary Crushing Concentrate Thickening & Filtering CAPSTONE COPPER CORP. | TSX:CS 13
Slide 14: MVDP Construction Progress (cont’d) – October 2022
MVDP Construction Progress (cont’d) – October 2022 Grinding + Flotation Ore Stockpile CAPSTONE COPPER CORP. | TSX:CS 14
Slide 15: MVDP Construction Progress (cont’d) – October 2022
MVDP Construction Progress (cont’d) – October 2022 Tailings Thickener Tailings Storage Facility CAPSTONE COPPER CORP. | TSX:CS 15
Slide 16: MVDP Construction Progress (cont’d) – October 2022
MVDP Construction Progress (cont’d) – October 2022 First of Four P&H 4100XP Shovels SAG/Ball Mills Shells CAPSTONE COPPER CORP. | TSX:CS 16
Slide 17: MV-SD District Integration Plan
MV-SD District Integration Plan Creating a world-class mining district in the Atacama Region, Chile • Targeting over 200kt per year of copper production with low operating costs • Potential to be one of the largest battery grade cobalt producers in the world and lowest cost with strategic by-product
Slide 18: Sustainability
Sustainability Climate Change Develop emissions target and decarbonization pathways in line with the Paris Agreement. • GHG emission target-setting on track, Water “business-as-usual” forecast Reduce freshwater withdrawals by prioritizing low-quality alternatives in water-stressed regions. • Mantove
Slide 19: A Clear Path to Permitted Transformational Growth
A Clear Path to Permitted Transformational Growth Further Upside with Expansions Across the Portfolio, 500 $3.75 Including Cobalt ~380kt Annual Copper Production (kt) 400 $3.00 C1 Cash Cost (US$/lb) 300 ~260kt SANTO DOMINGO $2.25 ~185kt 200 $1.50 MANTOVERDE2 MANTOS BLANCOS1 100 $0.75 COZAMIN PINTO V
Slide 20: Contact
Contact GENERAL ENQUIRIES Capstone Copper Corp. 2100 – 510 West Georgia Street Vancouver, BC - V6B 0M9 Capstonecopper.com info@capstonecopper.com 604-684-8894 Toll-free NA 1-866-684-8894 CAPSTONE COPPER CORP. | TSX : CS MEDIA & INVESTOR ENQUIRIES Jerrold Annett, SVP Strategy & Capital Markets 1-647-