Metals Acquisition Corp SPAC Presentation Deck
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CSA is a Rare Copper Opportunity in a Tier 1 Jurisdiction and Should
Provide a Cornerstone Asset for MAC to Maximize Value for Shareholders
Key Investment Highlights
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1 CSA is a Quality Copper Mine of Scale with Identified Near-Term Productivity Enhancement
High-grade mine with multi-decade operating history, consistent production, and track record of reserve replacement
Several areas identified for process improvement and optimization, potential to reduce C1 cash cost to US$1.26/lb(¹) in 2024E
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2 Track Record of Reserve and Resource Replenishment and Significant Mine Life Extension Potential
Estimated current mine life of over 15 years, with a history of mine life extension through exploration
• Significant resource/ mine-life upside through lowering the CSA cut-off grade
3 Strong ESG and HSE Credentials, Producing a "Green" Copper Concentrate with Low Carbon Intensity
• Significant regional employer, excellent relationships with key local stakeholders and a "safety first" culture
• Second quartile position of low carbon intensity on the global curve for copper mines with an ethical supply chain
Attractive Value Proposition with Strong Near-Term Cashflow Generation
. Purchase price implies a 4.5x multiple of 2022E EBITDA(2)
• Meaningful free cash flow generation anticipated to support rapid deleveraging and sustainable capital structure
5 MAC Track Record of Creating Value for Shareholders
• MAC executives have significant mining experience and a track record of creating shareholder value with public companies
• MAC team comprises proven Australian mining professionals with extensive in-country experience and relationships
6 Attractive Copper Outlook with Limited Investable Opportunities
Copper expected to play a key role in global energy transition; significant new supply required to meet surging demand forecast
• Limited new projects in the pipeline and increasing permitting issues creating challenges to close projected supply deficit
Sources: Company Information, Skarn Associates.
(1) Based on management estimates; (2) Based on management estimates, using market offtake terms, forward curve commodity prices at March 15, 2022 and assuming full year ownership. Actual results may vary based on date of deal
completion. Copper price hedges for 30% of production for the first 3 years expected to be in place (actual forward curve at time of deal completion may vary). EBITDA is a non-GAAP measure, see disclaimer "Non-GAAP Financial Measures".View entire presentation