Copper Fox Metals Inc. · TSXV:CUU
Copper Fox Metals — Investor Presentation (February 2024)
20 slides from Copper Fox Metals's investor presentation, February 2024
Slide 1: Creating Value in the Copper Space in North America
Creating Value in the Copper Space in North America Van Dyke headframe 1 February 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This Power Point presentation contains certain forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securiti
Slide 3: Capital Structure, Ownership & Management
Capital Structure, Ownership & Management Capital Structure Ownership Market Capitalization (M) C$92.2 Shares Outstanding (M) 558.7 Warrants (M) 4.7 40.2% Options (M) Nil 59.8% 59.8% Fully Diluted Share Capital (M) 563.4 Cash (M) C$0.8 Insiders Retail Debt Nil Elmer B. Stewart, MSc., P.Geo., Preside
Slide 4: Copper Outlook
Copper Outlook Copper is essential for a low carbon economy Copper supply needs to increase from 25Mt to 50Mt by 2035 to achieve “net zero” by 2050(1) Price Volatility ➢Global economic concerns, “soft” or “hard” landing? ➢What will China do? Demand Factors ➢Wind & solar technologies ➢Electric vehicl
Slide 5: The Company
The Company ➢ Copper exploration/development company focused on Tier 1, large, low-cost, long-life porphyry projects in Canada and the United States ➢ Two advanced stage and three exploration stage projects located in geopolitically stable mining jurisdictions: ➢ Golden Triangle - British Columbia,
Slide 6: Project Portfolio & Resources
Project Portfolio & Resources Schaft Creek (25%) Advanced stage porphyry Cu- Mo-Au-Ag project located 60 km south of Telegraph Creek, British Columbia. Van Dyke (100%) Advanced stage in-situ copper recovery (ISCR) project located in Miami, Arizona Eaglehead (100%) Advanced exploration stage porphyry
Slide 7: Mineral Resource Growth
Mineral Resource Growth Cu Inventory (Blbs) CuEq Inventory (Blbs) 8.00 8.00 7.00 7.00 6.00 6.00 2.78 CuEq (Blbs) 5.00 5.00 Cu (Blbs) 2.36 2.65 1.52 4.00 4.00 1.33 1.21 3.00 2.16 3.00 2.00 0.72 2.00 3.75 4.22 2.66 3.00 2.86 2.86 1.00 1.78 1.78 1.00 0.00 0.00 2012 2015 2020 2023 2012 2015 2020 2023 Ye
Slide 8: Schaft Creek Project
Schaft Creek Project ➢ Teck Resources Limited 75% & Operator Copper Fox 25% - experienced operator mitigates risk ➢ Covers one of the largest undeveloped porphyry copper deposits in North America ➢ Resource expansion potential at depth and along strike ➢ Readily accessible transportation, seaport an
Slide 9: Schaft Creek Joint Venture
Schaft Creek Joint Venture ➢ Teck Resources Limited 75% & Operator - Copper Fox 25% ➢ Teck funds first $60 M of pre-production expenditures - approximately $47 M incurred to October 31, 2023 ➢ Copper Fox to receive $40 M in milestone payments ➢ First $20 M payment on sanctioning decision ➢ Second $2
Slide 10: Schaft Creek Economics
Schaft Creek Economics 2012 2021 Change Production and Cost Summary Units FS PEA % Mine Life years 21 21 0 Leverage to Copper Price CuEq Metal Production LOM B/lb 7.6 7.5 (1) Copper Price US$/lb 3.25 3.25 0 Metal Price (US$/lb) 2.75 3.00 3.25 3.50 3.75 Gross Revenue US$B 22.6 21.3 (6) EBITDA (US$B)
Slide 11: 2024 Schaft Creek Program
2024 Schaft Creek Program Objective – Advance the key project parameters to transition the project from Scoping to Prefeasibility Study stage with planned expenditures of C$18.7 M ➢ Completion of the metallurgical testwork program currently underway ➢ 4,500m of drilling focused on key technical area
Slide 12: Van Dyke ISCR Project
Van Dyke ISCR Project ➢ Advancing to Prefeasibility Study stage ➢ 2020 PEA after-tax NPV US$645 M, IRR 43% ➢ Potential mid-tier ISCR copper mine – 85 Mlb year ➢ First quartile - C1 cost of US$0.86/lb and AISC cost of US$1.14/lb ➢ Resource expansion potential to the southwest ➢ Solubility/mineralogy
Slide 13: In-Situ Copper Recovery (ISCR)
In-Situ Copper Recovery (ISCR) ISCR Advantages Van Dyke ISCR Advantages • Leaching, not mining, rock stays in place • Wellfield constructed underground, • No open pit reduces environmental and social impact • No tailings • Underground workings below known • Lower water consumption aquifers • Lower g
Slide 14: Van Dyke Economics
Van Dyke Economics 2015 2020 Change Production and Cost Summary Units PEA PEA % Mine Life years 11 17 54 Leverage to Copper Price Copper Production Mlbs 456.9 1,101.0 141 Copper Price US$/lb 3.00 3.15 5 Metal Price (US$/lb) 2.65 2.90 3.15 3.40 3.65 Gross Revenue US$M 1,370.0 3,468.3 153 EBITDA (US$B
Slide 15: Deposit Outline and Resource Potential
Deposit Outline and Resource Potential 15
Slide 16: Advanced Stage Project Economics
Advanced Stage Project Economics Parameter Schaft Creek Van Dyke At Mine Revenue US$21.3B US$3.5B EBITDA US$10.8B US$2.3B Free Cash Flow (after-tax) US$5.4B US$1.4B NPV (after-tax) US$1.4B US$0.8B IRR (after-tax) 15.2% 48.4% Payback Period (after-tax) 4.8 years 2.1 years Initial Capital Costs US$2.7
Slide 17: Eaglehead Project
Eaglehead Project NSR Cutoff Tonnage NSR CuEq Cu Mo Au Ag NSR CuEq Cu Mo Au Ag Class (C$/tonne) (kt) (C$/tonne) % % % gpt gpt C$M Mlb Mlb Mlb koz koz 5 71,971 24.42 0.322 0.219 0.0107 0.060 0.9 1,758 510 347 17.0 139.8 2,159 Indicated 5.5 70,810 24.74 0.326 0.221 0.0108 0.061 0.9 1,752 509 345 16.9
Slide 18: Mineral Mountain Project
Mineral Mountain Project ➢Drill ready - Laramide age (67.4Ma) porphyry copper target ➢Located in the Santa Cruz to Globe-Miami porphyry copper trend ➢4,500m by 2,000m porphyry footprint ➢3,200m long by 1,200m wide (open-ended) chargeability signature >18mrads ➢Over 800 copper occurrences located ➢Ox
Slide 19: Sombrero Butte Project
Sombrero Butte Project ➢Located 2 miles south of the Copper Creek porphyry copper deposit in Arizona ➢Underlain by Laramide age Copper Creek intrusive (host to Copper Creek deposit) ➢Multiple mineralized magmatic breccia pipe swarms ➢Historical mining district - production averaged 5% Cu from brecci
Slide 20: Corporate Information
Corporate Information Corporate Office Desert Fox Office Suite 650, 340 – 12 Ave SW 3445 E Highway 60 Calgary, AB T2R 1L5 Miami, AZ 85539-1353 403-264-2820 Investor Relations 1-844-464-2820 investor@copperfoxmetals.com 20
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