PROJECTS
Cañariaco Norte
Cañariaco Sur
3RD PARTY VALIDATION
Major Investor: Fortescue Metals Group holds 19.9% of Candente
RFC Ambrian: Cañariaco Norte in top 10 of 23 Projects with potential to involve third party M&A (December 2021)
Haywood: Cañariaco Norte one of 18 assets selected as likely to be considered by Majors looking to Acquire (December 2021)
Deutsche Bank: Cañariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap (February 2021)
Goldman Sachs: Cañariaco Norte identified as one of the top 84 copper projects worldwide (October 2018)
CAÑARIACO 2022 PEA HIGHLIGHTS:
| NPV Sensitivities (US$M) (after tax) | ||||
| Copper Price US$/lb | ||||
| $3.25 | $3.50 | $4.00 | $4.50 | $5.00 |
6% Discount | $1,286 | $1,556 | $2,092 | $2,624 | $3,153 |
8% Discount | $802 | $1,010 | $1,423 | $1,833 | $2,241 |
IRR | 14.8% | 16.3% | 19.2% | 21.9% | 24.4% |
Average Annual Cash Flow | 204 | 229 | 278 | 326 | 375 |
Payback (Years) | 7.9 | 7.1 | 6.3 | 4.5 | 3.8 |
All cases with US$1,650/oz gold and US$21.50/oz silver.