Slide 1: Q4 2022 Results Conference Call
Q4 2022 Results Conference Call February 15, 2023 Mantoverde Development Project Construction 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 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 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: Achieved Production & Cost Guidance
Achieved Production & Cost Guidance For the 9-Month Period (Apr 1 – Dec 31, 2022) Q4 2022 Apr 1-Dec 31, 2022 Production C1 Cash Costs1 Production C1 Cash Costs1 ('000s tonnes) (US$/payable Cu lb) ('000s tonnes) (US$/payable Cu lb) Pinto Valley2 15.0 $2.48 42.5 $2.62 Cozamin 5.8 $1.40 18.5 $1.28 Mant
Slide 6: Improving Asset Quality Across the Portfolio
Improving Asset Quality Across the Portfolio Total Cathode Total Concentrate C1 Costs1 100% $3.00 Sulphide production expected to represent ~90% of total production with 90% the inclusion of MVDP and Santo Domingo in production $2.50 80% % of Total Production 70% C1 Cash Costs1 (US$/lb) $2.00 60% MB
Slide 7: Q4 2022 Quarterly Results
Q4 2022 Quarterly Results A Realized copper price1 $0.11/lb higher than LME average Q4 2022 • Rise in copper price from Q3 to Q4 resulted in net gains on Production (000s tonnes) 45.5 prior quarter shipments (+$19 million or $0.19/lb), partially offset by realized losses on Quotational Period (“QP”)
Slide 8: Balance Sheet Strength & Financial Flexibility
Balance Sheet Strength & Financial Flexibility Through Next Stage of Growth Available Liquidity*,1 (US$M) Adjusted EBITDA* Sensitivity (US$M) Cash & ST Investments Undrawn RCF Capacity 2023E EBITDA Annual EBITDA with MVDP Run-rate Production2 ~$1,500 $525M ~$1,250 $697M $172M ~$1,000 ~$750 Net Debt1
Slide 9: Pinto Valley: Q4 2022 Update
Pinto Valley: Q4 2022 Update Q4 2022 Production (000s tonnes) 15.0 C1 Cash Cost1 (US$/payable lb Cu produced) $2.48 • C1 cash costs1 were 5% lower quarter-over-quarter and at the low-end of our 9-month 2022 guidance range of $2.45 to $2.60 • Work progressed on the PV4 Feasibility Study which is expe
Slide 10: Cozamin: Q4 2022 Update
Cozamin: Q4 2022 Update Q4 2022 Production (000s tonnes) 5.8 C1 Cash Cost1 (US$/payable lb Cu produced) $1.40 • Mill throughput affected by implementation of new cut-and-fill mining method • C1 cash costs1 were 17% higher quarter-over-quarter due to lower copper production and higher mining costs as
Slide 11: Mantos Blancos: Q4 2022 Update
Mantos Blancos: Q4 2022 Update Q4 2022 Sulphide Production (000s tonnes) 10.0 Cathode Production (000s tonnes) 4.2 Total Production (000s tonnes) Sulphide C1 Cash Cost1 (US$/payable lb Cu produced) $1.82 Cathode C1 Cash Cost1 (US$/payable lb Cu produced) $2.69 Combined C1 Cash Cost1 (US$/payable lb
Slide 12: Mantoverde: Q4 2022 Update
Mantoverde: Q4 2022 Update Q4 2022 Cathode Production (000s tonnes) 10.5 C1 Cash Cost1 (US$/payable lb Cu produced) $3.65 • C1 cash costs1 down 6% quarter-over-quarter helped by lower sulphuric acid prices, offset by lower copper oxide heap leach grades • MVDP remains on-time and on-budget, with com
Slide 13: MVDP Construction Progress – February 2023
MVDP Construction Progress – February 2023 Primary Crushing Concentrate Thickening & Filtering CAPSTONE COPPER CORP. | TSX:CS 13
Slide 14: MVDP Construction Progress (cont'd) – February 2023
MVDP Construction Progress (cont’d) – February 2023 Concentrate Thickening and Filtering SAG/Ball Mills CAPSTONE COPPER CORP. | TSX:CS 14
Slide 15: MVDP Construction Progress (cont'd) – February 2023
MVDP Construction Progress (cont’d) – February 2023 Grinding + Flotation Ore Stockpile CAPSTONE COPPER CORP. | TSX:CS 15
Slide 16: MVDP Construction Progress (cont'd) – February 2023
MVDP Construction Progress (cont’d) – February 2023 Truck Shop Assembly of Third of Four Electric Rope Shovels CAPSTONE COPPER CORP. | TSX:CS 16
Slide 17: MVDP Construction Progress (cont'd) – February 2023
MVDP Construction Progress (cont’d) – February 2023 Tailings Thickener Tailings Storage Facility CAPSTONE COPPER CORP. | TSX:CS 17
Slide 18: MV-SD Cobalt Flowsheet Development
MV-SD Cobalt Flowsheet Development 27 Co Cobalt Two Options: Roasting or Heap Leaching – Ion Exchange 1 Roasting 2 Heap Leaching – Ion Exchange Cobalt Production • Target of 6,000 – 6,500 tonnes per year • Target of 4,500 – 6,000 tonnes per year Sulphuric Acid Production • 1.4 million tonnes • 0.5 m
Slide 19: Sustainability
Sustainability • ESG Strategy has been developed and will be announced in the coming weeks • Improved fuel efficiency and reduced emissions with deployment of Tier 4 engines and pumps at Pinto Valley Mantoverde & • Reduced petroleum product and solid Mantos Blancos waste generation with new Third of
Slide 20: A Clear Path to Permitted Transformational Growth
A Clear Path to Permitted Transformational Growth Further Upside with Expansions Across the Portfolio, 500 $3.75 Including Cobalt Opportunity ~380kt Annual Copper Production (kt) 400 $3.00 C1 Cash Cost3 (US$/lb) 300 ~260kt SANTO DOMINGO $2.25 ~180kt 200 $1.50 MANTOVERDE2 MANTOS BLANCOS1 100 $0.75 CO
Slide 21: Upcoming Catalysts
Upcoming Catalysts 2023 will be a catalyst-rich year. 2024 • MVDP ramp-up Feasibility studies support sector-leading copper production growth and further • MV-SD Cobalt Roaster FS upside across our portfolio. • MV-SD Leaching-IX PEA H2 2023 • Mantoverde Phase II FS • Mantos Blancos Phase II FS H1 20
Slide 22: Contact
Contact GENERAL ENQUIRIES Capstone Copper Corp. 2100 – 510 West Georgia Street Vancouver, BC - V6B 0M9 Capstonecopper.com info@capstonecopper.com 604-684-8894 Toll-free NA 1-866-684-8894 CAPSTONE COPPER CORP. | TSX : CS MEDIA & INVESTOR ENQUIRIES Jerrold Annett, SVP Strategy & Capital Markets 1-647-
Slide 23: 2023 Guidance Overview
2023 Guidance Overview Production and Costs Guidance Capital Cost Guidance (US$M) Cu Production C1 Cash Costs1 Pinto Mantos Santo Mantoverde* Cozamin Total (kt) (US$/lb Cu) Valley Blancos Domingo Sulphide Business Sustaining1 70 20 25 25 - 140 Pinto Valley2 56 – 62 $2.40 – $2.60 Expansionary1 5 - 22