NYSE/TSX: IE
Corporate Presentation | March 2024
Ivanhoe Electric - US Electric Metals Exploration Company with Significant Technology Platform
Advancing the high-grade underground Santa Cruz Copper Project in Arizona
Proprietary exploration and energy storage technologies
Experienced exploration team focused on portfolio of US electric metals projects
Operator of 50-50 exploration joint venture with Saudi Arabian Mining Company, Ma'aden, on expansive underexplored lands on the Arabian Shield
Strong balance sheet provides liquidity to advance portfolio of high-quality projects
Founded by Executive Chairman, Robert Friedland
Experienced executive management team
Well-positioned to benefit from clean energy transition and strong copper market fundamentals
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Experienced Executive Management Team
Taylor Melvin
President and
Chief Executive Officer
Quentin Markin
EVP, Business Development
and Strategy Execution
Graham Boyd
SVP, Exploration
Robert Friedland
Founder, Executive Chairman
Jordan Neeser
Chief Financial Officer
Glen Kuntz
SVP, Mine Development
Cassandra Joseph
General Counsel and
Corporate Secretary
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Ivanhoe Electric - Delivering Consistent Execution
Q1 2023
Santa Cruz Resource Update
Ma'aden JV
Announced
Major Achievements and Milestones
Acquired Santa Cruz Land
Closed and Funded Ma'aden JV
Completed ~84k Meters of Drilling at Santa Cruz Project
Published Santa Cruz Initial Assessment
Raised ~$200 Million in Follow-on Common Stock Offering, Including Ma'aden Top-up
Successful Drill Results at Santa Cruz - Verde Domain and Texaco Ridge Sulfides
Commenced TyphoonTM Survey in Saudi Arabia, Identifying Initial Drill Targets
Advanced Exploration Drilling at US Projects
Q1 2024+
Entered 2024 with Strong Operational Momentum and Financial Strength
Future Surveys
and Drilling in
Saudi Arabia
Advancing Santa Cruz PFS
Exploration Drilling in US
Advancing VRB US Business Plan
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Proprietary Technology Platforms - TyphoonTM, CGI, & VRB
TyphoonTM
Accurate and powerful proprietary geophysical survey technology based on I-Pulse technology
Successfully used to accelerate the exploration process to lower costs
Potential to discover deposits otherwise thought to be undetectable
Computational
Geosciences Inc. (CGI)
Advanced data analytics, geophysical modeling and artificial intelligence for water, oil and minerals discoveries
Only product that can process the full spectrum of geophysical datasets produced by the TyphoonTM system into 3D images
Proven grid-scale proprietary battery technology
Low-costion-exchange membrane, long-life electrolyte formulation and innovative flow cell design
Proven commercial-scale product with over 500 MWh installed or in development
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Santa Cruz Copper Project
High-Grade Underground Project on Private Land in Arizona
5,975 acres of private land encompassing the entire project
Acquired land includes associated water rights
Option to acquire all mineral titles contiguous with surface land
Excellent access to nearby rail, interstate highways and electric transmission lines
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Santa Cruz Initial Assessment ("IA")
IA focuses on 5.9 Mt / year underground copper mine with small surface footprint
- IA only incorporates high-grade exotic, oxide and enriched domains contained in Santa Cruz and East Ridge Deposits
Estimated copper production of 1.6 Mt over 20-year mine life ("LOM")
- ~1.0 Mt pure copper cathode via onsite SX/EW
- ~0.6 Mt copper in concentrate that is 48% copper by weight
Initial project capital estimated at $1.15 BN, $980 MM in LOM sustaining capital Low estimated capital intensity of ~$14k / tonne annual copper production Estimated LOM C1 cash costs of $1.36/lb Cu
After-tax NPV8% of $1.32 BN and IRR of 23.0% at $3.80/lb Cu
IA contemplates 70% renewable energy, resulting in low estimated Scope 1 and 2 emissions of 0.49 t CO2e/t Cu produced
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Santa Cruz Verde Domain - High-Grade Oxide Copper
The Verde Domain has higher copper grades and lower water flow rates compared to previous modeling within the Initial Assessment
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•
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SCC-005 57.0 meters @ 3.52% Total Copper (2.77% Total Soluble Copper) SCC-125 56.6 meters @ 3.22% Total Copper (3.16% Total Soluble Copper) SCC-186 59.3 meters @ 2.60% Total Copper (2.67% Total Soluble Copper)
Provides upside potential to the project economics presented in the IA
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Phased Approach Minimizes Initial Capital Requirements
Twin declines to access high- grade copper mineralization
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• 1.9 km extension in Year 8 to access lower portion
LOM 105.2 Mt mineralized material mined at 1.58% copper
• Santa Cruz: 88.6 Mt at 1.60% copper
• Santa Cruz Exotic: 1.9 Mt at 2.66% copper
• 4.9 Mt low-grade (0.56% copper) to access mineralization
Standard longhole stoping and drift and fill methods with paste backfill for support
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Santa Cruz IA: Base Case 70% Renewable Power to Result in Low Estimated CO2e per Tonne Copper - "Clean Copper"
Source: Wood Mackenzie; 2023 (single year 2022 data shown, the Santa Cruz 2023 IA has not been reviewed by Wood Mackenzie)
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Disclaimer
Ivanhoe Electric Inc. published this content on 11 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2024 23:09:04 UTC.