CCI.CN CNDIF site tour of NB largest High-grade open pit and Caribou Complex 3000t/d mill

<p><strong>Excellent trip. Everything is in very good shape for a fully funded restart of Caribou being feed by the high grade Murray Brook open pit. </p><p></p><p><br></p><p>CEO Simon Quick adds colour to what’s coming as we ramp up over the next 18 months toward production.</p><p><br></p><p>Production in 2028, fully financed. Offtake sold by Ocean Partners, deep water port nearby, govt support, local workforce, power and water. </p><p><br></p><p>At current spot it’ll do approximately $150-$160 million CAD in Ebitda on $280 million CAD in Rev, 57% Ebitda margin, mine will payout in 3-4 months.</p><p><br></p><p>On macro we have forecasted Cu, Ag deficits into 2035 , zinc moving into a small deficit 2027-28</p><p><br></p><p>Annual Production profile plus +13 years</p><p><br></p><p>47 million lbs zinc (20% of Canada’s zinc production)</p><p>8 million lbs copper</p><p>783,000 ozs silver</p><p>10 million lbs lead</p><p><br></p><p>MC is $134 million CAD</p><p>EV (net of OR stream cash $31.5 million +$17 million cash, $1 million in investments and $10 million cash from warrant exercises) = $74.5 million CAD.</p><p><br></p><p>Trades at 0.4 EV to steady state Ebitda vs peers in production of 4-8X …. That’s the upside in 18-24 months with zero financing risk. </p><p><br></p><p>Total cash liquidity +$100 million cad including Ocean Partners off-take agreement</p><p><br></p><p>Total cap ex from PEA net of $6 million to acquire Caribou which has been paid to put MB into commercial production = $58 million CAD</p><p><br></p><p>Liquidity to cap ex ratio 1.9X</p><p>we could build it twice. Zero dilution risk to achieve commercial production.</p><p><br></p><p>Then exploration upside, govt funding grants upside, cost cut upside from critical metal govt rebates on 30% of equipment, potential $5 million in cash from sale of non-essentials that came with Caribou, M&A upside of local stranded deposits upside. </p><p><br></p><p>The risk is execution but this team has proven many times they have the ability to stay in budget and deliver on time. If not under budget and under time. </p><p><br></p><p>https://canadiancopper.com/</p><p><br></p><p>Very Good trip!</p>