Idaho Copper Corporation · AMEX:COPR
Idaho Copper — Investor Presentation (October 2024)
34 slides from Idaho Copper's investor presentation, Oct 1, 2024
Slide 1: Idaho Copper Corporation Presentation Fall-Winter 2024
IDAHO COPPER CORPORATION PRESENTATION FALL – WINTER 2024 www.idaho-copper.com : COPR
Slide 2: General Disclaimer
GENERAL DISCLAIMER This presentation has been prepared by management of Idaho Copper Corporation (the “Company The presentation is not intended as an offer to sell or to solicit an offer to buy or form any basis of investment decision for any class of securities of the Company in any jurisdiction. A
Slide 3: General Disclaimer (Continued)
GENERAL DISCLAIMER (CONTINUED) Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as a
Slide 4: The World Has a Copper Problem!
THE WORLD HAS A COPPER PROBLEM! “Between 2018 and 2050, the world will need to mine 115% more copper than has been mined in all of human history prior to 2018…. just to meet ‘business as usual’ demand.” (University of Michigan, 2024) “Six large new copper mines need to come online annually through 2
Slide 5: Incremental Copper Demand Will Include
INCREMENTAL COPPER DEMAND WILL INCLUDE: EV’s need 4X more copper than conventional vehicles Goldman Sachs predicts that “AI could add 1 million tons to copper by 2030, copper demand will demand by 2030” (Trafigura, 2024) increase nearly 600% from the growing needs of the energy transition. (Goldman
Slide 6: There's No Quick Fix
IN MOST INDUSTRIES, SUPPLY RISES FAIRLY QUICKLY TO MEET KEEP GROWING DEMAND. BUT THE DYNAMIC IN MINING IS CALM VERY DIFFERENT. THERE’S NO “Between 2002 and 2023, discovery to production averaged 15.7 years for 127 mines QUICK globally.” (S&P Global 6/6/2023) For minerals, this means a long and painf
Slide 7: This Leaves the U.S. Extremely Vulnerable
THIS LEAVES THE U.S. EXTREMELY VULNERABLE U.S. net import reliance through the ages We imported 46% of copper consumption in 2023, up from 37% in 2019. And the trend for most metals has been going the wrong way for decades. Year One of the few areas of bipartisan agreement in Washington is the need
Slide 8: U.S. Vulnerability and Federal Response
U.S. VULNERABILITY AND FEDERAL RESPONSE The strategic risk posed by our reliance on imported minerals has prompted the Department of Defense (“DOD”) and Department of Energy (“DOE”) to provide grants to fund up to 50% of the development costs of certain mining projects (see Appendix for specific exa
Slide 9: Idaho Copper Controls One of the Largest Undeveloped Copper Deposits
IDAHO COPPER CONTROLS ONE OF THE LARGEST UNDEVELOPED COPPER DEPOSITS IN THE WESTERN HEMISPHERE Known as the “CuMo Project,” it also contains what is likely the largest undeveloped molybdenum deposit in the world, along with significant amounts of silver, rhenium, and tungsten. Apart from silver, all
Slide 10: Molybdenum Is an Important Metal with Constrained Supply
Uses of molybdenum MOLYBDENUM IS AN IMPORTANT METAL WITH Chemicals, 13% CONSTRAINED SUPPLY Foundries, 8% Stainless Steels, 39% • Principal use is in steel fabrication for strength and corrosion resistance Mo-Metals, 5% • Modern structural steel is ~6% molybdenum • Critical in desalination plants wor
Slide 11: The CuMo Project: An Enormous Asset with Upside
THE CUMO PROJECT: AN ENORMOUS ASSET WITH UPSIDE Comparison of CuMo to other copper mines - size and grade 2.50 Grade in % Cu equivalent Foran Trilogy 2.00 1.50 Eagle Mountain Highland Ivanhoe 1.00 Regulus NGEX Filo Arizona Faraday Los Western 0.50 Marimaca Surge Andes Hot Chili Copper Fox CuMo PEA N
Slide 12: Brief History of the CuMo Project
BRIEF HISTORY OF THE CUMO PROJECT Molybdenite (MoS2) mineralization was discovered in 1963 by Amax NEW BEGININGS PRE - 1998 Corp, which established initial mining claims. Drilling at the site between 1969 and 1982 yielded a total of ~36,000 feet of core. JANUARY 2022 New management team takes over I
Slide 13: Goal: Advance Project to Pre-Feasibility
THE COMPANY’S GOAL IS TO ADVANCE THE PROJECT TO PRE-FEASIBILITY, AT WHICH POINT IT WILL BE A CANDIDATE FOR JOINT VENTURE OR SALE TO A MAJOR. • Updated PEA by early 2025 • Commence Pre-Feasibility • Uplist to NYSE Amex in Q1- • Q3-2026: With PFS in Study mid-2025 2025 hand, explore financial • Target
Slide 14: Robust Investment by Majors Securing Forward Copper Supply
THERE HAS BEEN ROBUST INVESTMENT BY MAJORS SECURING THEIR FORWARD COPPER SUPPLY... Date Investor Target Deal Value ($M) 02/28/2022 BHP Group Limited Filo Mining Corp $79 05/12/2022 Anglo American PLC Arc Minerals Limited $88 04/28/2022 Rio Tinto Group Arizona Sonoran Copper $27 03/30/2022 Queen's Ro
Slide 15: CuMo Geology and Mineralogy
CUMO GEOLOGY AND MINERALOGY Idaho Copper’s deposit is an atypical type of porphyry called a “stockwork system,” in which most of the metal is contained in thin veins. Stockwork systems can lend themselves to ore-sorting technology, which separates waste and lower grade material from higher-grade ore
Slide 16: Visual Ore Sorting at CuMo
VISUAL ORE SORTING AT CUMO • Image 1: Approximately 10% of the interval for this core contains the Image 1 mineralized veins which are dark grey to black in the picture. • Image 2: The box shows unsorted drill core. o The box length is 2 feet long. Section is from the core zone. • Image 3: The box s
Slide 17: How Ore Sorting Works
HOW ORE SORTING WORKS Ore Sorting is a proven technology for eliminating waste, separating lower grade material, and upgrading mineral bearing, blasted rock at large particle sizes, typically between 25mm and 100mm (1 to 4 inches). • Sensors evaluate the mineral content or grade of individual rocks,
Slide 18: Ore-Sorting Is a Proven Technology
ORE-SORTING IS A PROVEN TECHNOLOGY IN USE AT NEARLY 100 MINES AROUND THE WORLD. Preliminary studies suggest it should dramatically improve the economics of the CuMo project. © 2024. Idaho Copper Corporation. All Rights Reserved. 18
Slide 19: The CuMo Project Is Ideally Located
THE CUMO PROJECT IS IDEALLY LOCATED Idaho is ranked as one of top 10 mining-friendly jurisdictions in the world as of 2021 (Fraser Institute Annual Survey). Idaho received an 86/100 rating in the Mining Journal World Risk Report (2023) The mine site is 36 miles from Boise, ID, and enjoys: • Good roa
Slide 20: Experienced & Dedicated Management Team
EXPERIENCED & DEDICATED MANAGEMENT TEAM ANDREW BRODKEY CEO, COO, DIRECTOR • Founder of International Mining and Metals Group of CB Richard Ellis. • Former VP and General Counsel with Magma Copper Co. (NYSE traded spin off from Newmont Mining) and later as VP Business Development for BHP Copper after
Slide 21: Other Board Directors
OTHER BOARD DIRECTORS STEVEN RUDOFSKY COREY REDFIELD JOHN MOELLER DIRECTOR DIRECTOR ADVISOR Retired senior commodities trader at Cargill. Former Former Principal at Foresgren Associates, a multi- Founder of Talex Commodities, a boutique merchant adjunct finance professor at Vanderbilt and the discip
Slide 22: Insiders + Friends and Family Own >30%
INSIDERS + FRIENDS AND FAMILY OWN >30% Ownership Table ¹ Holder Common Shares % of Outstanding Fully Diluted % Fully Diluted Multi-Metal Development Ltd. 121,468,700 48.53% 121,468,700 34.4% Steven Rudofsky 19,425,606 7.76% 29,140,606 8.26% Robert Scannell 14,719,876 5.88% 26,846,876 7.61% Andrew Br
Slide 23: Environmental, Permitting and Timeline Considerations – U.S. Mining Generally
ENVIRONMENTAL, PERMITTING AND TIMELINE CONSIDERATIONS – U.S. MINING GENERALLY From fiscal years 2010 through 2021, the Bureau of Land Management (BLM) and Forest Service approved 94 mine plans of operation in the Western United States, including 9 in Idaho. • Approval time averaged approximately 2.8
Slide 24: Environmental, Permitting and Timeline Considerations – CuMo Specific
ENVIRONMENTAL, PERMITTING AND TIMELINE CONSIDERATIONS – CUMO SPECIFIC • General Permitting Schedule—US Forest Service Environmental Assessment (EA) for Drilling ⚬ Draft EA released 29 May 2024 ⚬ Final draft EA and draft Decision Notice issued 18 September 2024 ⚬ Final EA, Record of Decision and Find
Slide 25: Catalysts for Stock Appreciation
CATALYSTS FOR STOCK APPRECIATION • PFS materially expands resource, Dec, 2026 Ongoing catalysts: • Strong metals prices • Few publicly traded US mining companies 03 • COPR very cheap relative to peers • Updated PEA, Dec 2024 • Uplist to NYSE/Amex Jan, 2025 02 • Apply for DOD/DOE grants Q1, 2025 01 ©
Slide 26: The CuMo Project - Huge and Undervalued
THE CUMO PROJECT - HUGE AND UNDERVALUED ¹ Comparisons as of August 2023 ¹ Idaho Copper Arizona Sonoran Ivanhoe Electric Filo Mining Foran Mining Marimaca NGEx Minerals Western Copper Trilogy Metals Highland Copper Corporate Name Corporation Copper Corp. Inc. Corporation Corporation Copper Corp. Ltd.
Slide 27: Current U.S. Copper Projects
CURRENT U.S. COPPER PROJECTS Key Producing US Copper Operations Major Advanced Copper Projects with Multi-Billion Pounds of Cu-Equivalent • Freeport Sierrita (Arizona) (Measured + Indicated) Resources • Freeport Safford (Arizona) • Freeport Morenci (Arizona) • Idaho Copper CuMo Deposit (Idaho) • Fre
Slide 28: Recent Examples of DOD and DOE Grants to Develop Mining Projects
RECENT EXAMPLES OF DOD AND DOE GRANTS TO DEVELOP MINING PROJECTS • $110 million from DOD to Albemarle and Talon for lithium production • $20 million from DOD to South 32 for Hermosa multi metal project • $59 million total from DOD to Perpetua (Idaho) for antimony • $475 million from DOE (Feb2024) fo
Slide 29: Market Fundamentals for Copper, Molybdenum, Silver
MARKET FUNDAMENTALS FOR Copper (Cu), Molybdenum (Mo), Silver (Ag) © 2024. Idaho Copper Corporation. All Rights Reserved. 29
Slide 30: Copper Supply / Demand + Green Economy
COPPER SUPPLY / DEMAND + GREEN ECONOMY Green revolution increases copper demand Kt Copper demand in the “Green Economy” is booming, with a big driver in Electric Vehicles. Copper demand in the “traditional economy” is decreasing slightly. Source: Morgan Stanley Research; e = Morgan Stanley Research
Slide 31: Copper Supply / Demand + Green Economy (Cont.)
COPPER SUPPLY / DEMAND + GREEN ECONOMY (CONT.) Copper discovery drought Copper in major discoveries (Mt) Copper exploration budget ($M) New “major” copper discoveries have been few and far between in the last several years. Source: S&P Market Intelligence (November 2022) © 2024. Idaho Copper Corpora
Slide 32: Copper Supply / Demand + Green Economy (Cont.)
COPPER SUPPLY / DEMAND + GREEN ECONOMY (CONT.) Copper supply / demand – Possible looming deficits > 8Mt Gap Massive supply / demand imbalance in the copper market may be coming. Source: Woodmac, Goldman Sachs Investment Research © 2024. Idaho Copper Corporation. All Rights Reserved. 32
Slide 33: Molybdenum: Key to a Green Future
MOLYBDENUM: KEY TO A GREEN FUTURE • Green energy transition to increase global demand of molybdenum. • Government infrastructure projects aiming to promote Total molybdenum demand by energy technology through 2050 under 2DS economic growth with molybdenum. • World Bank (2020) estimates 119% demand i
Slide 34: Idaho Copper Corporation Contact
Idaho Copper Corporation :COPR Robert Scannell Chief Financial Officer Tel: (415) 370-9209 rscannell@idaho-copper.com 800 West Main Street, Suite 1460, Boise, Idaho, United States 83702 WWW.IDAHO-COPPER.COM