Rxm July 2020 Hillside Capex US$410M (A$585M) already priced at...

Rxm July 2020 Hillside Capex US$410M (A$585M) already priced at 70c exchange rate . A 10 to 15% capex increase since seems reasonable but a higher consensus Copper Commodity price for longer will more than pay that off.

Investment case of US$3.50 copper , US$1800 , exchange Aud:US 0.70 , C1 cost US$1.38 , AISC US$1.55

The AISC could be further reduced by the Coarse Particle flotation increasing throughput of 6mtpa to 7/8mtpa. This should put us well in the lower half of the cost curve.

Copper Mountain Eva Project Dec 21 Copper price assumptions.

Metal prices for the Dec 2021 Update is based on the forward curve to 2028 (2024 of US$4.30/lb and US$1,706/oz Au; 2025 of US$4.25/lb Cu and US$1,598/oz Au; 2026 of US$4.00/lb and US$1,598/oz Au; 2027 of US$3.75/lb and $1,598/oz Au) and long-term consensus pricing thereafter of US$3.39/lb Cu and US$1,598/oz Au.




Copper Mountain Eva project increased their Capex by 18.7% in Australian dollar terms but some of that was because previously they used a 65c exchange rate but upped that to 70c. Rxm has already used 70c in its last Capex number of A$585m

Copper Mountain Eva project is seeing a 26.5% , $40m increase in infrastructure costs which are mainly attributed to its location unlike Hillside with no camp facility , close to power and water.


"Higher estimated infrastructure costs were mainly driven by an expanded camp facility, power infrastructure, and water development"


Because Copper Mountain used 65c exchange previously and now 70c their C1 costs moved from US$1.44 to US$1.53