Samuel Catalano's questions to MAC Copper Ltd (MTAL) leadership • Q4 2024
Question
Samuel Catalano of Wilsons Advisory asked what factors could push production to the high end of the 2025 guidance range. He also sought clarification on whether the 'first ore' from QTS South Upper referred to development ore or first stoping ore.
Answer
Executive Michael James McMullen identified the QTS South Upper project as the key swing factor for reaching the upper end of guidance, as its potential 1,500 tonnes of copper per quarter is not currently included in the midpoint forecast. He confirmed that the internal bonus metric is tied to achieving 'first stoping ore' from QTS South Upper in Q4, though some incremental development ore might be produced earlier.