Slide 1: Q1 2022 Results
Q1 2022 Results May 13, 2022 Photo: New mill circuit at Mantos Blancos 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: District-Scale Growth in the Americas
District-Scale Growth in the Americas MANTOS BLANCOS(1) 2022E* Expansion in ramp-up 52-56 Open Pit kt Cu 17+ year mine life PINTO VALLEY Mill expansion to 20,000tpd Cu Ag + 60ktpa cathode capacity 2022E* Production 55-59 Open Pit 70% MANTOVERDE(2) kt Cu 18+ year mine life 60,000tpd mill Expansion un
Slide 6: Q1 2022 Operating Highlights
Q1 2022 Operating Highlights Cu Production C1 Cash Costs1 (kt) (US$/lb Cu) Pinto Valley 14.4 $2.60 Cozamin 5.9 $1.12 TOTAL* 22.5 $2.31 *Total includes nine-days of operating results from Mantos Blancos and Mantoverde (Capstone Mining and Mantos Copper business combination closed on March 23rd, 2022)
Slide 7: Q1 2022 Cost Overview
Q1 2022 Cost Overview C1 Cash Cost1 per payable Cu Produced Overview (Q1 2022 vs Q1 2021) • Includes nine- • Global benchmark days of operating terms for copper results at Mantos Inflationary pressure, increased ~8.5% Blancos and primarily felt at Pinto YoY Mantoverde • Lower production at Pinto Val
Slide 8: Q1 2022 Financial Highlights
Q1 2022 Financial Highlights Q1 2022 Q1 2021 A Adj. EBITDA Production (000s tonnes) 22.5 21.7 • Despite inflationary pressures, realized copper price of $4.78/lb drove higher operating margins Sales (000s tonnes) 25.5 22.3 and Adj. EBITDA of $123.4 million in Q1 2022 Realized copper price ($/lb) 4.7
Slide 9: Financial Strength to Fund Next Phase of Growth
Financial Strength to Fund Next Phase of Growth Available Liquidity (as at 31-Mar-22) EBITDA* (2022E-2024E) Cash & ST Investments RCF Capacity 2022 2023 2024 ~$1,400 $413M Subsequent to the quarter, ~$1,200 $225M $638M amended RCF to $500M with $100M accordion1 ~$1,000 EBITDA* $M ~$800 Capital Struc
Slide 10: Pinto Valley: Q1 2022 Overview
Pinto Valley: Q1 2022 Overview Q1 2022 Throughput (tonnes per day) 58,412 Production (000s tonnes) 14.4 C1 cash costs (US$/payable lb Cu produced) $2.60 • Higher grades and throughput expected in H2 • C1 cash costs1 in Q1 2022 impacted by lower production and increased operating costs due to inflati
Slide 11: Cozamin: Q1 2022 Overview
Cozamin: Q1 2022 Overview Q1 2022 Throughput (tonnes per day) 3,704 Production (000s tonnes) 5.9 C1 cash costs1 (US$/payable lb Cu produced) $1.12 Cozamin Step-Out Drill Program • The focus during Q1 2022 was on testing the Mala Noche Footwall zone and Mala Noche Main Vein West Target • A corporate
Slide 12: Mantos Blancos: Q1 2022 Update
Mantos Blancos: Q1 2022 Update Concentrator De-bottlenecking Project (MB-CDP) Achieved ~90% of targeted sulphide throughput in the last week of April • During Q1 2022, project commissioning was completed and ramp-up progressed as planned 20,000 tpd 18,000 tpd • Current focus is achieving and then su
Slide 13: Mantoverde: Q1 2022 Update
Mantoverde: Q1 2022 Update Mantoverde Development Project (MVDP) • As at April 30, 2022, overall project progress is 49% and construction progress is 14% +40% of projected capex spent as at 31-Mar-22 • The project remains on track and the target for completion remains late 2023 $825M • All contracto
Slide 14: MV-SD District Integration Plan
MV-SD District Integration Plan We are creating a world-class mining district in the Atacama Region, Chile • Targeting over 200kt per year of copper production with first quartile operating costs • Potential to be one of the largest battery grade cobalt producers in the world and lowest cost with st
Slide 15: MV-SD District Cobalt Feasibility Study
MV-SD District Cobalt Feasibility Study • At over 10 Mlbs of battery-grade cobalt annually, Santo Domingo would be one of the world’s largest and lowest cost cobalt producers. • Currently evaluating flowsheet options for potential cobalt synergies with Mantoverde. Cobaltiferous pyrite concentrate fr
Slide 16: Sustainability Performance
Sustainability Performance 2021 Capstone Sustainability Report: Foundation for Growth 2021 Resource Use Intensity (YoY Δ) GRI, SASB, TCFD disclosures, June publication Tailings: Pinto Valley convened ITRB; Cozamin began construction of paste backfill and dry-stack tailings → smaller land footprint a
Slide 17: 2022 Production & Costs Guidance
2022 Production & Costs Guidance Guidance for the 9-Month Period (April 1st – December 31st) 2022 Operating Cost Drivers Cu Production C1 Cash Costs1 Materials: Processing (grinding, liners, crushing, steels) (kt) (US$/lb Cu) Diesel and lubricants Sulphide Business 4% Sulphuric acid Pinto Valley2 41
Slide 18: Improving Asset Quality Across the Portfolio
Improving Asset Quality Across the Portfolio Total Cathode Total Concentrate C1 Costs 100% $3.00 Sulphide production expected to represent ~90% of total production 90% with the inclusion of MVDP and Santo Domingo in production $2.50 80% % of Total Production 70% C1 Costs (US$/lb) $2.00 60% MB-CDP ra
Slide 19: 2022 Capital and Exploration Guidance
2022 Capital and Exploration Guidance Guidance for the 9-Month Period (April 1st – December 31st) A B C D E Pinto Valley Mantos Blancos Mantoverde* Cozamin Santo Domingo Total Capital Expenditure ($ millions) Sustaining Capital1 65 20 20 25 - 130 Capitalized Stripping 5 55 - - - 60 Expansionary Capi
Slide 20: Capstone Copper Catalysts
Capstone Copper Catalysts H2 2023 H1 2023 Expansion Optimization • Commissioning of MVDP Q4 2022 • Updated Santo Domingo • MV-SD cobalt FS FS including district • Updated Santo Domingo FS District Integration Plan integration including copper oxides • MV-SD District Integration Plan* • Pinto Valley
Slide 21: A Clear Path to Permitted Transformational Growth
A Clear Path to Permitted Transformational Growth Production Growth Profile 1 Transformational Near-Term Growth … 500 $3.75 Mantoverde: MVDP sulphide expansion Further Upside with Expansions Across the Portfolio underway Fixed price, turnkey EPC contract with Ausenco ~380kt 400 $3.00 Annual Copper P
Slide 22: 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-