Slide 1: Q2 2023 Results Conference Call
Q2 2023 Results Conference Call August 2, 2023 Mantoverde - July 2023 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 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 4: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION The financial results contained in this document are preliminary and represent the most current information available to the Company's management, as the Company completes its financial procedures. The Company's audited consolida
Slide 5: MVDP – Construction On Time & On Budget
MVDP – Construction On Time & On Budget ~4.4Mt of sulphide ore grading 0.63% Cu and 0.11 g/t Au stockpiled as at June 30, 2023. Wet commissioning to commence before year-end. CAPSTONE COPPER CORP. | TSX:CS 5
Slide 6: Q2 2023 Operating Highlights
Q2 2023 Operating Highlights Cu Production C1 Cash Costs1 Production Expected to Improve in H2 Sulphide Business (kt) (US$/lb Cu) Pinto Valley2 12.6 $2.98 83 – 93 Copper in Improved Cu Cozamin 6.7 $1.63 Concentrate (kt) grades at Pinto Mantos Blancos 8.4 $3.18 Valley, higher throughput at Total Sulp
Slide 7: H2 2023 Production and Cost Guidance
H2 2023 Production and Cost Guidance H2 2023 Guidance Key Points Cu Production C1 Cash Costs1 Pinto Valley to benefit from higher grades and higher expected throughput (kt) (US$/lb Cu) with no significant maintenance scheduled. Cash costs expected to trend Sulphide Business lower as a result of hi
Slide 8: Q2 2023 Financial Highlights
Q2 2023 Financial Highlights Q2 2023 Production (000s tonnes; contained) 39.3 Sales exceeded production levels, offsetting the sales timing A lag in Q1. Sales (000s tonnes) A 40.8 Realized copper price of $3.71/lb was slightly below the LME Realized copper price1 ($/lb) B $3.71 B quarterly average d
Slide 9: Balance Sheet Strength & Financial Flexibility
Balance Sheet Strength & Financial Flexibility Through Next Stage of Growth Available Liquidity*,1 (US$M) Adjusted EBITDA* Sensitivity (US$M) Cash & ST Investments Undrawn RCF Capacity 2023E EBITDA ~$2,500 2 Annual EBITDA with MVDP Run-rate Production (~mid-2024) 3 Annual EBITDA with MVDP + Santo Do
Slide 10: Clarity on Chilean Tax Reform
Clarity on Chilean Tax Reform Mantoverde Chilean Tax Reform • In May 2023, Chilean Congress finalized its Mining Royalty Bill, which was approved by the Constitutional Court of Chile in July and is expected to be passed into law once signed by President Boric. • The new mining taxation legislation i
Slide 11: Pinto Valley: Q2 2023 Update
Pinto Valley: Q2 2023 Update Q2 2023 Production (000s tonnes) 12.6 C1 Cash Cost1 (US$/payable lb Cu produced) $2.98 • Production and costs were impacted by unplanned downtime in the crushing circuit resulting in ~12 lost production days • H2 production and cost performance expected to improve based
Slide 12: Cozamin: Q2 2023 Update
Cozamin: Q2 2023 Update Q2 2023 Production (000s tonnes) 6.7 C1 Cash Cost1 (US$/payable lb Cu produced) $1.63 • New cut-and-fill mining method reached nameplate production levels • C1 cash costs1 were 5% lower quarter-over-quarter due to higher copper production Commenced cut-and- Nameplate mining r
Slide 13: Mantos Blancos: Q2 2023 Update
Mantos Blancos: Q2 2023 Update Q2 2023 Sulphide Production (000s tonnes) 8.4 Cathode Production (000s tonnes) 3.3 Total Production (000s tonnes) 11.7 Sulphide C1 Cash Cost1 (US$/payable lb Cu produced) $3.18 Cathode C1 Cash Cost1 (US$/payable lb Cu produced) $3.08 Combined C1 Cash Cost1 (US$/payable
Slide 14: Mantoverde: Q2 2023 Update
Mantoverde: Q2 2023 Update Q2 2023 Cathode Production (000s tonnes) 8.3 C1 Cash Cost1 (US$/payable lb Cu produced) $3.92 • Production impacted by plant shutdown for MVDP electrical tie-in • Expanded desalination plant expected to increase Cu production in H2 • MVDP remains on-time and on-budget, wit
Slide 15: Primary Crusher
Primary Crusher The primary crusher has been sized to support a throughput rate in excess of MVDP’s nameplate capacity of 32,000 tonnes per day. CAPSTONE COPPER CORP. | TSX:CS 15
Slide 16: Covered Coarse Ore Stockpile
Covered Coarse Ore Stockpile The covered coarse ore stockpile has a capacity of 60,000 tonnes, providing covered storage for approximately two days of coarse ore mill capacity. CAPSTONE COPPER CORP. | TSX:CS 16
Slide 17: Processing Overview
Processing Overview The front-end of the circuit (SAG and ball mills) have also been sized to support a throughput rate in excess of MVDP’s nameplate capacity of 32,000 tonnes per day. CAPSTONE COPPER CORP. | TSX:CS 17
Slide 18: Truck Shop
Truck Shop Near completed truck shop; built to support the expanded mining fleet. CAPSTONE COPPER CORP. | TSX:CS 18
Slide 19: Tailings Storage Facility
Tailings Storage Facility The tailings storage facility has been sized to support MVDP. Significant potential capacity exists to facilitate multiple expansions at Mantoverde. CAPSTONE COPPER CORP. | TSX:CS 19
Slide 20: Desalination Plant
Desalination Plant The existing desalination plant (located on the coast 40km west of Mantoverde) was built in 2014. The plant was upsized to 380 l/s from 120 l/s as part of MVDP. Existing pipeline capacity to Mantoverde mine is 840 l/s, which is expected to facilitate Santo Domingo and Mantoverde e
Slide 21: Ausenco Case Studies
Ausenco Case Studies Copper Concentrator Plant Throughput Ramp-up Number of Months for Throughput to Achieve 100% of Plant Design Highlights Four most recent Ausenco Cu concentrator Mina Justa (2021) ramp-ups achieved nameplate design within 6 months Carrapateena (2020) Two cases achieved 100% o
Slide 22: Sustainability Q2 Developments
Sustainability Q2 Developments Completed the independent assessment phase of the Copper Mark at Mantos Blancos & Mantoverde and gap assessment at Cozamin. Working group established, executive accountability assigned, and pillar leads identified to support Sustainable Development Strategy. Inau
Slide 23: Organic Development Pipeline Potential
Organic Development Pipeline Potential Current Copper Portfolio Near-Term Copper Development Pipeline Additional Growth Levers • Santo Domingo Oxides (~10kt Cu) Fully Permitted, Shovel Ready Low Capital Intensity, • Mantoverde Phase II (~65kt+ Cu) Brownfield Expansions SD 120 • PV District Consolida
Slide 24: Organic Development Pipeline Potential Timeline
Organic Development Pipeline Potential Timeline 2024 2025 2026 2027 2028 2029 MVDP Optimized1 Brownfield Low Capital Expansions MB Phase II2 Santo Domingo3 MV Phase II4 Major Construction Projects PV District5 Engineering and/or Permitting Targeted Sanctioning Window Construction Production Notes: 1
Slide 25: Upcoming Catalysts
Upcoming Catalysts Feasibility studies support sector-leading H2 2024 copper production growth and further • MV-SD Cobalt Study upside across our portfolio. o Leaching-IX o Roaster • Mantos Blancos Phase II H1 2024 FS • MVDP ramp-up • PV District Growth Study • MVDP Optimized FS o 45ktpd target o Ma
Slide 26: 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