Highland Copper Co., Inc. · TSXV:HI
Highland Copper — Investor Presentation (February 2024)
29 slides from Highland Copper's investor presentation, Feb 23, 2024
Slide 1: A Permitted Michigan Copper Story
TSX.V: HI OTCQB: HDRSF A Permitted Michigan Copper Story Corporate Presentation 2024
Slide 2: Disclaimer
Disclaimer Cautionary Statement The reader is advised that a PEA is preliminary in nature and is intended to provide only an initial, high-level review of the Project potential and design options. The PEA mine plan and economic model include numerous The data contained herein is provided for informa
Slide 3: Copper in the Headlines
Copper in the Headlines Highland Copper Corporate Presentation 3
Slide 4: Key Building Blocks
Key Building Blocks Tier 1 US Location with key support from US Location Michigan and local communities Copperwood is the only fully-permitted project in Permits in Hand its peer group, White Pine permitting advancing Multi-billion pound copper resource with Resource Scale growth upside, significant
Slide 5: License to Operate in Supportive Michigan
License to Operate in Supportive Michigan State Permitting $50 Million State Supply to Michigan Community OEM Investment Process on Grant Proposal Industry & OEMs Support in Miners Private Land Highland Copper Corporate Presentation 5
Slide 6: Multi-Billion Pound Resource, Well Sequenced
Multi-Billion Pound Resource, Well Sequenced 1.9 Billion Pounds Inferred 2.2 Billion Pounds Inferred (79.1 million tonnes at 1.09%) (97.2 million tonnes at 1.03%) 1.8 Billion Pounds M&I 3.2 Billion Pounds M&I (54.2 million tonnes at 1.51%) (133.4 million tonnes at 1.07%) Copperwood Project White Pin
Slide 7: State Permitting on Private Land
State Permitting on Private Land Copperwood White Pine Permit Type Project North Project Part 31: Water Resource Protection, NPDES Permit Part 315: Dam Safety Permit Part 325: Great Lake Submerged Land Permit Part 303: Wetland Protection Part 301: Inland Lakes and Streams Part 55: Air Discharge (cur
Slide 8: White Pine JV Provides Capital for Both Projects
White Pine JV Provides Capital for Both Projects US$30 Million Investment for Additional US$30 Million JV Kinterra to provide 66% of White Pine North, Funds Commitment to Fund White US$10 Million Unsecured Available for Copperwood Pine North Loan for Highland Funds mainly allocated to initiate Advan
Slide 9: Highest Copper Price Leverage in Peer Group
Highest Copper Price Leverage in Peer Group Pro Forma Highland Copper 100% Copperwood 34% White Pine North Metric* 2023 Feasibility Study 2023 PEA $168 m After-tax NPV 8 @ $4.00 Copper $279 m $507 m After-tax NPV 8 @ $5.00 Copper $525 m 10.7 Life of Mine (Years) 21.8 $391 m Initial Capital (net pre-
Slide 10: Copperwood Project
Copperwood Project Highland Copper Corporate Presentation 10
Slide 11: Most Advanced Project in Peer Group
Most Advanced Project in Peer Group Fully-Permitted in Michigan The project has obtained all required permits, early site works initiated and is ready to move into construction (pending project financing). Outstanding Community Support The project has received 20+ resolutions of support from key tow
Slide 12: Responsible Project Design
Responsible Project Design Key Environmental Considerations Underground mine with modest surface footprint Electing not to draw water from Lake Superior Rigorous water treatment and monitoring Wetland preservation area of 717 acres protected in perpetuity Financial assurance in place with State of M
Slide 13: Critical License to Operate
Critical License to Operate Employment & Townships & Counties State Authorities Development Partners Ongoing community engagement Department of Environment, through townhalls, attendance at Great Lakes, and Energy local meetings Department of Natural Resources Highland Copper Corporate Presentation
Slide 14: $50 Million State Grant Proposal
$50 Million State Grant Proposal Michigan Economic Development Corporation (MEDC) has proposed at $50 grant for the Copperwood project The first stage of approval is the Michigan Strategic Fund (MSF). We are currently addressing the MSF questions and educating them on the benefits of the project The
Slide 15: Highly Levered to Copper Price, Opportunities Upside
Highly Levered to Copper Price, Opportunities Upside 25% Increase in Copper Price = 300% NPV Increase Value Creation Opportunities: Life of mine additions, converting 79 million Cu Price NPV 0% NPV 8% IRR Payback ($/lb) ($M) ($M) (%) (Years) inferred tonnes 5.00 1,013 507 33.4 2.0 Metallurgical reco
Slide 16: White Pine North Project
White Pine North Project Highland Copper Corporate Presentation 16
Slide 17: Project Highlights
Project Highlights Strong JV Partner for Development Project development plan for the White Pine North project is supported by Kinterra’s financial and technical strength. Project Director / Environmental Director recently hired and drilling initiated. Permitting Managed by State of Michigan Success
Slide 18: PEA Highlights (100%)
PEA Highlights (100%)* $821 million 20.8% 1.33 After-tax NPV 8% After-tax IRR NPV / Initial Capex 22-year life of mine $615 million $1.63 / lb 5.7 B lbs Initial Capital1 Operating Cost Contained Copper2 Highland Copper Corporate Presentation *All figures $USD 1Net of $265 million pre-production reve
Slide 19: Available Infrastructure
Available Infrastructure Pictured here is the historic White Pine Mine owned by Subterra and Slag Dump North Tailings Basin I PM Power Group. White Pine North grounds partially shown in photo. Former Cu Smelter Former Process Plant Mine Portal Cu Refinery Power Plant Office Rail Access Road Access H
Slide 20: Investor Information
Investor Information Highland Copper Corporate Presentation 20
Slide 21: Backing from Key Mining Funds
Backing from Key Mining Funds 28% 31% Orion Mine Finance Other Shareholders 16% Condire Investors 1% 16% Management and Directors Greenstone Resources L.P. 2% 6% Dundee Precious Metals Osisko Gold Royalties Highland Copper Corporate Presentation * 736 million shares outstanding. 39 million options o
Slide 22: Highland Copper's 2023 Achievements
Highland Copper’s 2023 Achievements Issued updated Copperwood FS Incorporated revised water source in Copperwood FS Issued White Pine North PEA Completed JV with Kinterra, funded both assets Completed Copperwood site work, permits maintained Initiated Copperwood value creation Highland Copper Corpor
Slide 23: Key Catalysts
Key Catalysts Copperwood Project White Pine North Project Corporate On-going site early works Environmental baselining and permit Potential State & Federal funding Value creation initiatives applications Potential Industry Partnerships Project Funding & Construction Decision Drilling programs Define
Slide 24: The Big Picture
The Big Picture Regional First Asset Access to Near- Leverage to Entrant Strategy Term Cash Flow Copper Price Options Highland Copper Corporate Presentation 24
Slide 25: Contact and Offices
Registered Office Mailing Address Project Office Royal Centre, 1055 West Georgia St, Highland Copper Company Inc. Copperwood Resources Inc. www.highlandcopper.com 310 US Highway 2, Suite B Suite 1500 9160 Leduc Boulevard Quartier info@highlandcopper.com Vancouver, British Columbia Dix30, Suite 410 W
Slide 26: Board and Management
Board and Management Barry O’Shea Jonathan Cherry David Tennant CEO, Director Independent Director Independent Director Former Partner M&A Former CEO, Polymet McCarthy Tetrault LLP Melanie Miller Jo Mark Zurel Stephen Hicks Independent Director Independent Director Highland Chair Chair, Fortis Inc F
Slide 27: Mineral Reserves Estimate
Mineral Reserves Estimate* Tonnes Cu Grade Ag Grade Cu Contained Ag Contained Copperwood (MT) (%) (g/t) (M lbs) (M oz) Proven 18.2 1.49 4.47 597 2.6 Probable 7.5 1.34 2.56 222 0.6 Proven & Probable 25.7 1.45 3.91 820 3.2 Notes on Mineral Reserve Estimates: 1) The Mineral Reserves were estimated usin
Slide 28: Mineral Resource Estimate
Mineral Resource Estimate* Copper Silver Copper Silver Notes on Mineral Resources: 1) Mineral Resources are reported Resource Tonnage using a copper price of $4.00/lb and a silver price of $25/oz. Deposits Grade Grade Contained Contained Category (M t) 2) A payable rate of 96.5% for copper and 90% f
Slide 29: Mineral Resource Estimate
Mineral Resource Estimate* Silver Copper Silver Resource Tonnage Copper Grade Ore Column Grade Contained Contained Category (M t) (%) (g/t) (M lbs) (M oz) Indicated 37.8 1.03 10.1 857 12.3 Full Column (3 m) Inferred 0 - - 0 0 Indicated 112.8 1.06 14.6 2,640 53.1 Parting Shale (2 m) Inferred 96.4 1.0
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