L E I G H C R E E K C O P P E R M I N E , S O U T H A U S T R A L I A
T H R EE P H A S E D D E V E L O P M E N T P L A N
MAY 2023
LEIGH CREEK COPPER MINE (LCCM) PROJECT - INTRODUCTION
- Strategic Minerals plc ("SML"), an AIM quoted company, acquired LCCM in 2018.
- 25,900 tonnes of Indicated JORC compliant copper.
- Three granted mining licenses covering Lorna Doone, Mount Coffin and Mountain of Light with JORC resources.
- Existing local offtake of all expected copper production, LME based pricing.
- Reactivating production of copper via heap leaching to produce a high-grade copper cement (concentrate).
- Existing plant provides ability to access early cash flow.
- Significant upside potential - reinvestment of cash flow to optimise remaining three deposits, develop regional targets and explore for copper sulphide host.
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LCCM - 3 STAGE PLAN USING OXIDE PRODUCTION FOR SULPHIDE EXPLORATION
- Represents an opportunity to lever off a small copper oxide project
- Allows self funding exploration for a larger copper sulphide host in the North Flinders Ranges.
- Developed a three stage strategy to;
- recommence copper oxide production;
- access and expand regional copper oxide production; and
- self fund a large scale, exploration for a copper sulphide host(s) in the region.
Capital Cost ($)
Stage 3: "Step Out"
- Develop plan to mine Copper Sulphide Resource
- Acquire new tenements for exploration in under- explored region
- Product diversification to copper cathode (SXEW)
Stage 2: Expand and Develop
- Producing at LLD and Mount Coffin tenements
- Multiple 'oxide' sites to produce 500+t/month
- Drill to Identify Copper Sulphide Resource
Stage 1: Restart / Early Drill
- Recommission Plant (Complete)
- Recommence production (200+t/month)
- Confirmatory oxide drilling and initial sulphide exploration drilling
Time
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LCCM STAGE 1 - COPPER OXIDE MINING AND PROCESSING
Copper Oxide JORC Resource
Copper Production Process
PEPR Approval
Plant and Infrastructure
Existing Offtake Agreement
Attractive Investment Return
Rapid Payback Period
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LCCM STAGE 2 - REGIONAL HUB PORCESSING AND SULPHIDE EXPLORATION
- LCCM's tenements and regions, have a rich history of copper oxide outcrops and small scale mining has occurred.
- Small deposits in the Northern Flinders Ranges, generally, can be economically challenging.
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Economics require a centralised processing
'hub' or a mobile processing plant. - Kennecott cones provide an ideal flowsheet for mobile facilities.
- Cash flows being generated from Stage 1 help acquisition of additional copper oxide deposits or tolling of surrounding material.
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