Robust Base Case Economics:

An after-tax NPV of 6% of $1.07 billion, IRR of 28%- and 1.9-year payback period based on the 3-year trailing average metal prices at the effective date

Strong critical mineral production during pre-production and the first three years of commercial operation:

151 Mlbs of payable copper, 720 koz of payable palladium and 156 koz of platinum

Initial Capital Cost:

C$992 million

Attractive AISC:

Life of mine (“LOM”) all-in sustaining costs (“AISC”) of US$2.05/CuEq lb or US$781/PdEq oz

At recent long-term consensus prices: 

An after-tax NPV6% of $876 million, IRR of 24%- and 2.2-year payback period, with 41% of payable metal revenues attributable to copper and 41% attributable to palladium

At recent spot prices:

An after-tax NPV 6% of $749 million, IRR of 21%- and 2.4-year payback period, with 44% of payable metal revenues attributable to copper and 37% attributable to palladium

Average Annual Payable Metals:

42 Mlbs. copper,168 koz palladium, 38 koz platinum, 12 koz. gold and 240 koz. silver over approximately 13 year mine life

Job Creation:

Creation of over 800 jobs during construction and over 400 direct permanent jobs during operations

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