28
Jan NelsonCEO
On behalf of the BTC Team
Producing Eco-friendly Premium GradeCopper through
Environmental clean-up
Junior Mining Indaba | June 2021
Will our planet survive?
“The cost of inaction is high, while solutions yield enormous economic
gains”
Why Copper?
Corporate Overview
OUR BUSINESS
Rock dumps lying on surface containing 43,926 tons of contained copper metal
(3,1Mt tons @ 1,41 % Cu) – life of Project (LOP) of 30 years
In the Northern Cape Province of South Africa 15 km north of the regional center of
Springbok next to the town of Nababeep
Newmont and Gold Fields primary focus was the sulphide ore and their processing plants
could not treat the oxide material and therefore it was stock-piled and never mined.
We have already built a copper processing plant at a cost of US$4,1m and de-risked the
project. We produced our first copper plates at 99,8856% purity (A-grade copper) with no
impurities.
Planning and capital in place to expand production from 1600 tons of copper per annum
to 6000 tons of copper per annum within 3 years
Low debt levels and capital repaid within 6 months and able to pay dividend from 2022
Average attributable earnings forecast per annum of ZAR36m over LOP with another
ZAR33m to be added by Carolusberg project.
9 5/25/2021
Copper Oxide Plant
Rietberg Rock Dumps
Homeep Rock Dumps
Jubilee Rock Dumps
Carolusberg Tailings Dam
Secured Copper Oxide Rock Dumps
OKiep Rock Dumps
Northern Cape Province
Cape Town
Johannesburg
South Africascale
5 km
95% of Oxide Resource within 15 km radius of plantof which 65% lies within 500m of the plant
Nababeep Rock Dumps
Secured Tailings Dam
O u r G e o g r a p h i cL o c a t i o n
ONLY SX-EW COPPERPROCESSING PLANTIN SOUTH AFRICA
Who are we and what makes us unique?
We rather talk about our approach
• Copper has a good long-term outlook• Our resources are on surface• No mining – only processing• 20+ year Life• Operation yields high margins• Proof of concept established• First copper plated in October 2020• Processing results in Environmental clean-up
• On site & inhouse Engineering Design capability• On site & in-house Engineering Manufacturing
capability• State of the Art Engineering Workshop• Experienced management team• Mature and well experienced workforce• No unions
• Offtake over Life at very attractive terms• State of the Art processing facility• Built at highly competative capital cost• Favorable load and haul rates (short distances)• All licenses and permits in place• Water and power secured• Standby Generator to cover power outages
• Expansion phase underway & funded• 5 months from cash generation• Low debt levels• Ongoing capital requirements are low• We are not ‘overheads heavy”• Invested our own cash
• Growth opportunity that can increase output• Low capital requirement• Significant synergies with current processing plant• Further increases margin yield• Minimal operational cost impact
What makes us an Attractive Investment?
• Only pure surface copper investment opportunity in SA
• Near-term cash generation• Investment is de-risked (Opex & Capex)• Team has own cash invested and on risk
50%of funding
for the projecthas come
Fromthe Board
Structure $ Ownership
* Funding of CCOC gives funders preference share that entitle them to 22,5% of EBITDA yielding 67% of PAT to BTCC
HandaMining
Board InvestorsRock & Tailings
owners
20% 40% 5% 35%
Big Tree Copper Company (BTCC)
100% ownership67% of PAT*
100% ownership100% of PAT
Cape Copper Oxide Company (CCOC)
Carolusberg Tailings Dam Company (CTDC)
Technical Information
Value of resource at USD6,500/t is
US$285 million
Value of resource at USD9,000/t is
US$395 million
This excludes Carolusberg
Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content
Locality Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T
Nababeep 521 600 1,49% 7 795 501 840 2,73% 13 716 55 450 1,35% 748 12 000 2,98% 358 668 993 1,91% 12 778 350 000 1,65% 5 775
Rietberg 86 000 1,02% 877 - - - - - - 86 520 1,02% 883 - - - - - -
Homeep East 85 000 0,86% 731 - - - - - - 85 000 0,86% 680 - - - - - -
Jubilee - - - - - - 560 000 0,74% 4 144 - - - 250 000 0,85% 2 125 310 000 0,65% 2 015
Carolusberg - - - - - - 450 000 2,12% 9 540 - - - 450 000 2,12% 9 540 - - -
Other - - - - - - 850 000 0,75% 6 375 - - - - - - 125 000 1,50% 1 875
TOTAL 692 600 1,36% 9 403 501 840 2,73% 13 716 1 915 450 1,09% 20 807 183 520 1,05% 1 921 1 368 993 1,79% 24 443 785 000 1,23% 9 665
Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content
Locaility Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T
Nababeep 1 023 440 2,10% 21 511 55 450 1,35% 749 1 078 890 2,06% 22 259 680 993 1,93% 13 135 350 000 1,65% 5 775 1 030 993 1,83% 18 910
Rietberg 86 000 1,02% 877 - - - 86 000 1,02% 877 86 520 1,02% 883 - - - 86 520 1,02% 883
Homeep East 85 000 0,86% 731 - - - 85 000 0,86% 731 85 000 0,80% 680 - - - 85 000 0,80% 680
Jubilee - - - 560 000 0,74% 4 144 560 000 0,74% 4 144 250 000 - 2 125 310 000 0,65% 2 015 560 000 0,74% 4 140
Carolusberg - - - 450 000 2,12% 9 540 450 000 2,12% 9 540 450 000 - 9 540 - - - 450 000 2,12% 9 540
Other - - - 850 000 0,75% 6 375 850 000 0,75% 6 375 - - - 125 000 1,50% 1 875 125 000 1,50% 1 875
TOTAL 1 194 440 1,94% 23 119 1 915 450 1,09% 20 808 3 109 890 1,41% 43 926 1 552 513 1,70% 26 363 785 000 1,23% 9 665 2 337 513 1,54% 36 028
Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content
Nababeep Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T
A 145 350 1,40% 2 035 - - - - - - 145 350 1,40% 2 035 145 350 1,40% 2 035
B 263 800 1,51% 3 983 - - - - - - 263 800 1,51% 3 983 263 800 1,51% 3 983
C 18 850 1,26% 238 - - - - - - 18 850 1,26% 238 18 850 1,26% 238
C2 - - - - - - 25 980 1,26% 327 - - - 25 980 1,26% 327
D - - - 10 000 5,00% 500 - - - 10 000 5,00% 500 10 000 5,00% 500
E - - - 475 600 2,69% 12 794 - - - 475 600 2,69% 12 794 475 600 2,69% 12 794
F 84 200 1,50% 1 263 - - - - - - 84 200 1,50% 1 263 84 200 1,50% 1 263
G - - - - - - 9 000 1,26% 113 - - - 9 000 1,26% 113
H - - - - - - 20 470 1,50% 307 - - - 20 470 1,50% 307
I - - - 16 240 2,60% 422 - - - 16 240 2,60% 422 16 240 2,60% 422
Feed 9 400 2,94% 276 - - - - - - 9 400 2,94% 276 9 400 2,94% 276
TOTAL 521 600 1,49% 7 795 501 840 2,73% 13 716 55 450 1,35% 748 1 023 440 2,10% 21 511 1 078 890 2,06% 22 259
MRM parameters 2021 2020 Metal Grade Tons
Density measurement 1,94 2,10 Movement in Resource
Cut-off (% Cu) 0,15% 0,15% 390% 30% 277%
Copper price (USD/t) 6500 6500 614% 161% -63%
115% -12% 144%
M&I Inferred Total -12% 14% -23%
LOM (years) 12 19 30 22% -8% 33%
% up/down 2020
CAPE COPPER OXIDE (PTY) LTD RESOURCE STATEMENT FROM JANUARY 2021 AND COMPARISON TO 2020
Measured
Indicated
Inferred
M&I
Total
Measured Indicated Inferred Measured & Indicated (M&I) Total Resource
2021
2021
Measured & Indicated (M&I) Inferred Total Resource
2020
Measured & Indicated (M&I) Inferred Total Resource
2021 2020
Measured Indicated Inferred Measured Indicated Inferred
Value of reserve at USD6,500/t is
US$150 million
Value of reserve at USD9,000/t is
US$208 million
This excludes Carolusberg
Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content Tons Grade Content
Locality Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T Mt % Cu T
Nababeep 521 600 1,49% 7 795 501 840 2,73% 13 716 1 023 440 2,10% 21 511 12 000 2,98% 250 - - - 12 000 2,08% 250
Rietberg 86 000 1,02% 877 - - - 86 000 1,02% 877 86 520 1,02% 618 - - - 86 520 0,71% 618
Homeep East 85 000 0,86% 731 - - - 85 000 0,86% 731 - - - 668 993 1,34% 8 941 668 993 1,34% 8 941
Jubilee - - - - - - - - - - - - - - - - - -
Carolusberg - - - - - - - - - - - - 150 000 1,75% 2 625 150 000 1,75% 2 625
Other - - - - - - - - - - - - - - - - - -
TOTAL 692 600 1,36% 9 403 501 840 2,73% 13 716 1 194 440 1,94% 23 119 98 520 0,88% 868 818 993 1,41% 11 566 917 513 1,36% 12 434
Copper Price (US$/t) 6500 US$/t
Tons Grade Content Tons Grade Content Tons Grade Content Exchange rate 16,5 USD:ZAR
Nababeep Mt % Cu T Mt % Cu T Mt % Cu T ROM Capacity 8500 per month
A 145 350 1,40% 2 035 - - - 145 350 1,40% 2 035 Fixed cost 8 USD/ROMt
B 263 800 1,51% 3 983 - - - 263 800 1,51% 3 983 Variable cost 27 USD/ROMt
C 18 850 1,26% 238 - - - 18 850 1,26% 238 Total cost 35 USD/ROMt
D - - - 10 000 5,00% 500 10 000 5,00% 500 Recovery 65%
E - - - 475 600 2,69% 12 794 475 600 2,69% 12 794 EW effiency 74%
F 84 200 1,50% 1 263 - - - 84 200 1,50% 1 263 PRF 48%
I - - - 16 240 2,60% 422 16 240 2,60% 422 Profit Margin 50%
Feed 9 400 2,94% 276 - - - 9 400 2,94% 276
Paylimit 0,53% in situ
TOTAL 521 600 1,49% 7 795 501 840 2,73% 13 716 1 023 440 2,10% 21 511 Cut-off 0,25% in situ
Average Mining Grade (AMG) 1,25% in situ
Proved Probable Total
LOM (years) 7 5 12
Metal Grade Tons
Movement in Reserve
983% 54% 603%
19% 94% -39%
86% 43% 30%Total Reserve
% up/down 2020
Proved
Probable
Cut-off can be maintained ONLY if AMG is achieved
2021 Input parameters
Total Reserve
Proved Probable Total Reserve
Proved Probable Total Reserve Proved Probable
CAPE COPPER OXIDE (PTY) LTD RESERVE STATEMENT FROM JANUARY 2021 AND COMPARISON TO 2020
2021 2020
No miningrequired
Only loadand process
5 years of feed available within
500m of plant
All infrastructurein place
Current feed stockpile of 12,000 tons at 2,98% cu
in situ on feed apron
Plan showing composite copper sample grades of copper rock dumpswithin 500m of the processing plant
Plant commissioning was started in
September 2020
First copper was produced on
2 October 2020 12 1220 20 20 20 20 20 20 20 20 20
0
20
40
60
80
100
120
140
160
0500
10001500200025003000350040004500500055006000650070007500800085009000
July September November January March May
Tons
EW Cells
Copper Metal
3,8t of CuPer EW cell without
SX circuit
8.5t of CuPer EW cell with SX
circuit
15Cathodes per EW
cell
16Anodes per EW cell
30Copper plates
produced per EW cell – one on each side of a cathode
2,4% CuAverage Copper
feed grade
Nu
mb
er (E
W)/
Co
pp
er M
etal
T
on
s
P R O D U C T I O N F O R EC A S T
Crushing & milling
Leaching
Filter press & solution recovery
Magra
Solvent Extraction
Electrowinning
Copper plates
New Rectifiers
Legend
In place
New expansion
Expanding current
Only dedicated SX-EW Copper plant in
South Africa
T H E P R O C E S SW E L L E S TA B L I S H E D
& W I D E LY U S E D
Cost item USD/t ZAR/t
Labour 3,32 48,20
SX opex 0,81 11,77
Overheads 8,80 127,65
Administration 2,58 37,39
Energy costs 0,34 4,88
Chemicals 5,34 77,50
Consumables 0,42 6,05
Electricity 1,89 27,44
Diesel (Generator)/loadshedding 1,48 21,39
Water 1,76 25,58
Material handling 4,14 59,99
Maintenance 2,07 30,07
SX consumables 0,21 3,02
Marketing & Sales 3,14 45,59
Total cost 36,31 526,52
USD|ZAR: 14,5
Plantcommissioning was
started in September 2020
First copper was produced on
2 October 2020
O P E R AT I N G C O S T
C A R O L U S B E R G S I M P L E“ P L U G - A N D - P L AY ” A D D O N
Capexof US$2m
Build heap leach pile
Spray Leaching
Pregnant solution
Membrane extraction
Leach circuit
Electrowinning
Copper plates
Legend
Leach Operation
SX|EW plant
C A P I TA L E X P E N D I T U R E F O RC A R O L U S B E R G E X PA N S I O N
U S D 2 M I L L I O N
Contingencyof US$300k
How do the numbers stack up?
Value proposition
27 5/25/2021
Value proposition
• 2 months from production | 6 months from first dividend
• All capital funded
• Cleaning up environment yields significant economic benefit
• In-house design, build and operate skills
• We have targeted further growth opportunities for the future which can be driven from cashflow
• Once listed – only eco-friendly pure copper exposure in South Africa
• Copper (“new oil”) + Environmental clean-up + Surface operations (“Copper DRD”) + HighMargin = Premium Copper product in the Market
It is about producing profitableCopper that has a zero-harmimpact on the environment
and drives the green revolution!
Thank you!
