Ann: First Quarter 2017 Preliminary Results & Reporting Calendar, page-2

First Quarter 2017 Preliminary Results
• Quarterly production of 3,506 tonnes of copper in concentrate, equivalent to the forecast 25% of annual guidance range of 13,500- 14,000.
• Quarterly production of 2,783 ounces of gold in concentrate, equivalent to 6% above the annual guidance range of 9,750-10,500 due to higher grades.
• Quarterly sales of 3,920 tonnes of copper and 2,855 ounces of gold in concentrate, generating provisional sales revenue (excluding costs) of $26.1 million.
• Brazilian Real strengthened 4.8% over the quarter to 3.1 against the US Dollar. Combined with an extended maintenance shutdown of the plant and drawdown of ROM stocks the quarterly C1 cash costs increased to $1.52 per pound of copper.
• Quarterly EBITDA maintained in-line with budget at $6.4 million due to good production and strong commodity prices and despite of increased cash costs.