True North Copper Limited · ASX:TNC
True North Copper — Foster Stockbroking Small-Mid Cap Copper Conference (May 2024)
21 slides from True North Copper's conference presentation, May 3, 2024
Slide 1: Foster Stockbroking Small-Mid Cap Copper Conference
For personal use only Foster Stockbroking Small-Mid Cap Copper Conference ASX: TNC 03 MAY 2024 1
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER This presentation (Presentation) has been prepared by True North Copper Limited ABN 28 119 421 FORWARD LOOKING STATEMENTS 868 (the Company) and relates to information The Presentation has been prepared as at 03 May The Presentation includes “forward looking statement
Slide 3: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER JORC The information in this Presentation that relates to Mineral Resource and Ore Reserve Estimates for The information in this Presentation that relates to a production target for the Cloncurry Copper Great Australia, Orphan Shear, Taipan, Wallace North and Wallace
Slide 4: True North Copper Strategy
TRUE NORTH COPPER STRATEGY For personal use only ▪ To become a significant copper producer and critical metals supplier centered on NW QLD ▪ Execute mining restart at Cloncurry Copper Project to establish profitable operating platform ▪ Generate cash & fund extensive exploration on Cloncurry and Mt
Slide 5: Corporate Snapshot
ASX: TNC CORPORATE SNAPSHOT Corporate Structure Board of Directors Shares on issue 596.4M∂ Ian McAleese Executive Chairman For personal use only Options on issue (average exercise price $0.334) 21.6M Marty Costello Executive Director Tim Dudley Non-Executive Director Warrants on issue (exercise pric
Slide 6: Where We Operate
Where We Operate Mt Oxide Project For personal use only CLONCURRY COPPER PROJECT (100% TNC) ▪ Fully permitted for mining restart Flamingo ▪ Existing infrastructure at the Great Australia Mine (GAM) includes oxide heap leach and solvent extraction plant, mining/support facilities and existing power M
Slide 7: Economics
Cloncurry Copper Project Economics 1 ▪ Mining 4.8Mt over initial 4.6 year life ▪ Grow revenue and cash flow into CY25 ▪ Low cost restart and fast payback into FY25 For personal use only ▪ Leverages existing infrastructure (CCP & Toll processing) ▪ Low ASIC (LOM) ▪ Underpinned by key partnerships ▪ R
Slide 8: Mine Plan
Cloncurry Copper Project Mine Plan Wallace North GAM & Taipan Mining Start Increase Scale For personal use only • Q4 FY 24 - Commence mining ore at Wallace North • Then production moves to GAM & Taipan Pits • Mobilise 60-80t excavator fleet progressively ramping up to • H1 FY 25 - Mobilise heavy fle
Slide 9: Preparations for Mining
Cloncurry Copper Project - Preparations for Mining ▪ All contractors are engaged and ready to go ▪ Key operators & workforce recruitment is well advanced For personal use only ▪ All regulatory requirements are in place ▪ Local landowners are primed to grant land access ▪ Local authorities have appro
Slide 10: Copper Sulphate From Existing Stockpiles
Cloncurry Copper Project Copper Sulphate From Existing Stockpiles ▪ Copper Sulphate Crystal Plant & Heap Leach at Cloncurry Operating Hub For personal use only ▪ Crystal Plant refurbished & shipments ongoing ▪ Commissioning & defect correction complete ▪ Process and control improvements underway ▪ A
Slide 11: Building Relationships
For personal use only BUILDING RELATIONSHIPS CLONCURRY COPPER PROJECT Copper Ore Tolling & Copper Concentrates Offtake2 • Toll-milling services, up to 1 Mtpa for the LoM. • Binding offtake agreement with Glencore for 100% of copper $28M USD Finance Facility concentrate from TNC’s CCP. • Concentrate
Slide 12: Exploration
TRUE NORTH COPPER For personal use only Exploration CLONCURRY COPPER PROJECT PRESENTATION | MAY 2024 12
Slide 13: Exploration Upside
EXPLORATION UPSIDE Vero PROJECT AREA Capricorn Copper WORLD CLASS 850 square kms of tenure in the World Class Mt Isa Inlier which is REGION home to a number of major Cu (Co-Au-Ag) Mineral Systems. For personal use only DISTRICTS Numerous high-quality Cu-Au-Co-Ag targets located with mineralised stru
Slide 14: Mt Oxide Project - +10 km Prospective Trend
Mt Oxide Project - +10 km Prospective Trend ▪ Hosts the Vero Resource of 15.98 Mt @ 1.43% Cu and 6.91 g/t Au total combined Measured, Indicated and Inferred resource. ▪ Limited systematic modern exploration outside of the Vero Resource. 29 Metals Mining Lease ▪ Significant opportunity to apply leadi
Slide 15: Mt Oxide Project – Exploration Progress and Plan
2023 Mt Oxide Project – Exploration Progress and Plan TNC acquires Mt Oxide Project May ▪ Confirmation drilling completed, resource re-estimation nearing completion this quarter. including the Vero Indicate and Inferred ▪ Dorman Fault Zone mapping and sampling (high priority gossans) underway. Resou
Slide 16: Cloncurry Operations Hub Exploration
Cloncurry Copper Project Clonc urry Operations Hub 30 km trucking radius Ernest Henry Exploration Focus on surface mapping, survey and geophysics, historic resource gap analysis (for resource / LoM feed), targeting and drilling For personal use only GREATER Eight high priority drill ready targets at
Slide 17: Next Steps and Thank You
Next Steps: 1. Restart mining at Cloncurry Copper Project For personal use only to establish profitable operating platform Thank you 2. Continue to increase the resource base at Cloncurry and Mt Oxide Ian McAleese 3. Evaluate regional opportunities to build +61 0427 227 530 scale and improve operati
Slide 18: References
REFERENCES 1. True North Copper Limited. ASX (TNC): 15 February 2024, Mining Restart Study: Positive Cloncurry Project Economics 2. True North Copper Limited, ASX (TNC): 23 January 2024, TNC secures Glencore partnership for Cloncurry Copper Project 3. True North Copper Limited. ASX (TNC): Release 19
Slide 19: Appendix 1: October 2023 JORC Resources and Reserves
APPENDIX 1: Cloncurry Copper Project- October 2023 JORC Resources and Reserves Table 1. TNC Cloncurry Copper Project Mineral Resource Estimates Summary Table 2. TNC Cloncurry Copper Project Ore Reserves Resource Cut-off Tonnes Cu Au Co Ag Cu Au Co Ag Resource Category Tonnes (Mt) Cu (%) Au (g/t) Cu
Slide 20: Appendix 2: Mining Restart Key Mine Metrics
Appendix 2: CLONCURRY COPPER PROJECT MINING RESTART KEY MINE METRICS 1 Assumption Unit Assumption Value For personal use only Copper Price1 US$/t 8,500 Gold Price2 US$/oz 1,850 AUD:USD3 A$1:US$ 0.70 Inflation4 % 0% Discount Rate % 10% Model Start Date Date 01-Jan-24 Corporate Tax Rate % 30% ▪ Sulphi
Slide 21: Mining Restart Key Mine Metrics
CLONCURRY COPPER PROJECT MINING RESTART KEY MINE METRICS 1 Item Total LOM Unit Cost Unit Cost Unit Cost For personal use only A$ Million (A$/t Ore Processed) (A$/lb Cu Payable) (US$/lb Cu Payable) Mining 98.8 20.5 0.32 0.23 Processing (including Surface Haulage) 131.0 27.1 0.43 0.30 General & Admini
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