INVESTOR
PRESENTATION
January 2025
1
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS
Pure Copper Play in Tier 1 Jurisdiction (SE Arizona)
Johnson Camp Copper Mine in Construction
- Option Agreement with Nuton LLC (Rio Tinto Venture)
- First Copper Expected H1 2025
- Selected to receive US$13.9 M in 48C tax credit*
Gunnison Project Open Pit Preliminary Economic
Assessment (PEA): very positive results!
- High-Value-Addstudies on Opportunities in 2025
Undervalued vs Peers
Major Catalysts in 2025 & 2026
*Realization of the full amount of this tax credit is subject to satisfaction of the requirements set forth in Section 48C of the US Internal Revenue Code including certification of the operational and employment plans set out in the application. Any eventual allocation of the 48C tax credits between Gunnison and Nuton will be determined in a tax partnership agreement that will be entered into between the parties.
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS | 3 |
Market Valuation - Peer Comparison
1
2
1 Peer average excludes Gunnison (as at Jan 14, 2025); 2Hudbay market capitalization attributable to Copper World estimated at $420M based on equity analyst reports of NAV by asset and trading multiple. Peer group projects provided for information only based on publicly available information disclosed by the applicable company. The peer group projects are not necessarily indicative of the mineral potential at the Gunnison Project.
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS All currency amounts in US dollars, unless stated otherwise 4
Our Assets - Resources
Gunnison Copper Portfolio: Three Major Deposits within 8km
Gunnison Open Pit
Resource Development
M&I Resources: 832 Mtons @ 0.31%
(M: 191.3 Mt @ 0.37%; I: 640.2 Mt @0.29%)
Open Pit + Heap Leach + SX/EW
PEA NPV8 after tax $1,260M 21% IRR Initial
Payback 4 years
Value-Add leading to Pre-Feasibility Studies
Johnson Camp Mine (Stage 2)
Under Construction
First Production in H1 2025
Open Pit + Heap Leach + SX/EW
25MLbs (10kt) per Year Made in America Copper for Domestic Supply Chains
Fully funded by Nuton LLC (Rio Tinto Venture)
Strong & Harris
Satellite Deposits
Inferred Resources: 76 Mtons @ 0.52%
Open Pit + Heap Leach + SX/EW
PEA NPV8 after tax $260M 23% IRR Initial
Payback 3.1 years
Exploration Partnership Process
All Deposits within 8km economic radius
The PEAs are preliminary in nature, they include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEAs will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS | 5 |
Our Assets - Location & Permitting
Gunnison
Project
Johnson | Strong & Harris |
Camp Mine |
NO FEDERAL PERMITING
- Remote Location; rural with low population density
- No cultural sites, tribal land or nearby tribes; No threatened/endangered species or habitat
- Predominantly ranching/mining, no National/State Forest land
- No Federal Permitting & 100% permitting success to date
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS | 6 |
Gunnison Open Pit
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS
Gunnison Open Pit: Key Metrics
KPIs | Gunnison | ||
Financial KPIs | @ $4.10/lb Cu | ||
NPV @ 8% (after-tax) | $M | 1,260 | |
Internal Rate of Return | % | 20.9 | |
Payback Period | #years | 4.05 | |
Cash Cost (C1 LOM Avg) | $/lb | 1.42 | |
Sustaining Cash Cost (LOM Avg) | $/lb | 1.94 | |
Initial Project Capex | $M | 1,343 | |
LOM Sustaining Capex | $M | 876 | |
EBITDA (Annual Avg)1 | $M | 419 | |
Free Cash Flow (Annual Avg)1 | $M | 309 | |
Mining KPIs | |||
Mineralized Material mined LOM | Mtons | 551 | |
Mineralized Material mined per day | Stpd | 84,000 | |
Strip ratio (LOM) | w:o | 2.06 | |
Copper Grade (Total Copper) | % | 0.35 | |
Mining Unit Cost - Hard Rock | $/ton | 1.95 | |
Mining Unit Cost - Alluvium | $/ton | 1.26 | |
Processing KPIs | |||
Copper Cathode (Annual Avg)1 | Ktons | 84 | |
Nameplate Capacity (Annual Cu Eq) | Ktons | 90 | |
Global Copper Recovery | % | 69.5 | |
Processing Unit Cost | $/ton | 2.43 | |
G&A Unit Cost | $/ton | 0.27 |
1Average annual of Y1 to Y16; Y17 and Y18 are stockpile drawdowns and trailing heap recoveries
Gunnison
PitWaste
Rock
Waste
Rock
Leach Pad
Processing
Facilities &
Rail Spur
The PEA is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS
All currency amounts in US dollars, unless stated otherwise | 8 |
Gunnison Open Pit: 2024 PEA Mine Plan
- $1.61 / ton of material moved (incl. def stripping) . ~70% alluvium waste (gravel) is 35% cheaper to mine vs hard rock
- Strip ratio of 2.06:1, effectively 1.57:1 with reduced alluvium costs, compares favorably to peers
- 320-tonhaul trucks, with an LOM average haulage distance of 4.7 miles (round trip)
Two-Year
Construction
Mtons
The PEA is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS
All currency amounts in US dollars, unless stated otherwise | 9 |
Gunnison Open Pit: Production Profile (Mlbs)
- Million pounds of copper cathode production annually
- Sustaining cash cost includes C1 cash cost + sustaining capex (including deferred stripping) + royalties
- The PEA is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS
All currency amounts in US dollars, unless stated otherwise | 10 |
Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original document
- Permalink
Disclaimer
Gunnison Copper Corp. published this content on January 17, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 17, 2025 at 18:35:05.482.