Kutcho Feasibility Study Technical Notes & Parameters

 

Notes:

  • Tonnages are reported in metric tonnes (t), copper and zinc in pounds (lbs), silver and gold reported in troy ounces (oz).
  • “M” = million, “k” = thousand
  • All tables report rounded figures and may not sum precisely.
  • The financial model is based on 100% of the Project being financed through equity (no equity from other projects can be used to offset the cost of capital). No debt or equity schedule is included.
  • All values, unless otherwise stated, are undiscounted.
  • The highlights refer to the Feasibility Study base case. The Wheaton Precious Metals Purchase Agreement is not applied to the base case.
  1. Net smelter revenue (NSR) includes royalty payments.
  2. On-site construction period excludes the access road construction and a 3 month commissioning period. Operating costs exclude the pre-production period which are allocated to Pre-Production Capital).
  3. Cash or operating costs are operating expenses for mining, plant operations and administration to the point of production of the concentrate at the Kutcho site. It excludes off-site concentrate costs, sustaining capital, closure/rehabilitation and royalties. CuEq calculation assumes metal base case prices.
  4. All-in sustaining costs includes all cash costs, sustaining capital expenses to support on-going operations (such as TMF construction, major plant equipment replacement and repair), concentrate charges, and royalties. It includes closure and rehabilitation costs.
  5. No inflation or depreciation of costs were applied; all costs are in 2021 money values. Major underground mobile equipment, all open pit mobile equipment and the power plant are leased. Contingencies included.