Development Strategy

Phased Development Approach

Our development strategy forPribrezhniy focuses onoptimizing project value through a flexible, two-track approach:

Near-Term Oxide Opportunity

  • Stand-alone SX/EW operation producing 20,000 tonnes of copper cathode annually
  • Low initial capital requirements for fast-track development
  • Early cash flow generation potential
  • Leverages existing regional infrastructure
  • Processing of 31.5 Mt of oxide resources at 0.39% Cu

Large-Scale Sulfide Development

  • Two production scenarios under evaluation:
    • 28 MTPA processing operation
    • 40 MTPA processing operation
  • Conventional flotation producing copper and molybdenum concentrates
  • Significant economies of scale
  • Long-life operation with substantial resource base

Project Economics

PEA highlights demonstrate robust project economics across multiple development scenarios:

Oxide-Only Scenario:

  • Rapid development timeline
  • Lower initial capital investment
  • Strong cash flow generation potential
  • 9-year mine life

Combined Development Scenarios:

  • Enhanced project NPV through increased production
  • Significant operational synergies
  • Extended mine life of 20-24 years
  • Additional upside from molybdenum and silver credits

Development Timeline

Near-term milestones:

  • Completion of additional metallurgical testing
  • Environmental and social baseline studies
  • Pre-feasibility study initiation
  • Continued resource expansion drilling
  • Advancement of key permits and approval

Infrastructure Development

Strategic approach to infrastructure development:

  • Utilization of existing regional infrastructure
  • Staged construction to optimize capital efficiency
  • Rail connection already in place
  • Established power and water infrastructure
  • Proximity to processing facilities

Path to Production

Our systematic approach to development includes:

  1. Resource optimization and expansion
  2. Advanced technical studies
  3. Environmental and social impact assessments
  4. Strategic partnership opportunities
  5. Project financing alternatives