Eric Winmill's questions to MAC Copper Ltd (MTAL) leadership • Q4 2024
Question
Eric Winmill of Scotiabank asked about the amount of new drilling included in the upcoming reserve and resource update and its cutoff date. He also inquired about the timeline and CapEx for the Stage 10 tailings dam project and sought follow-up on developments in the upper portion of the mine.
Answer
Executive Michael James McMullen confirmed that approximately 30,000-35,000 meters of new drilling would be included in the update, with a data cutoff around the end of September/October. CFO Morne Engelbrecht added that the Stage 10 tailings project has a total CapEx of about AUD 18 million (USD 12 million) and, once completed in Q3/Q4, will provide capacity until about 2030. McMullen also noted significant potential in the upper mine, with a sizable copper deposit that could add reasonable production.