Kantra Copper (KAN) Investor presentation summary

Corporate overview and financials

• Market capitalization stands at $260 million with no debt and $32 million in cash as of June 2026.

• Enterprise value is $228 million, with 235.9 million shares on issue and 9.7 million options outstanding.

• Substantial shareholder Freepoint holds 13.9%, with institutions (excluding Freepoint) at 25.9%.

• Income tax losses are estimated at $260 million, and franking credits at $18 million.

Copper market outlook

• Global copper demand is projected to rise by ~50% by 2040, driven by electrification and energy transition.

• New copper discoveries and average grades have declined since the 2000s, increasing supply challenges.

• Cash costs have risen 37% from 2019 to 2025 due to grade decline, deeper mining, and inflation.

• Higher incentive prices are needed to bring new supply online, contributing to a growing market deficit.

Operational performance and growth

• 2025 copper production guidance is 12,750–14,000 tonnes; 2026 H1 production was 6,290 tonnes.

• All-in sustaining cost (AISC) guidance for 2025 is $5.75–6.25/lb, with H1 2026 at $5.97/lb.

• EBITDA for H1 2026 was $34.8 million, with major capital spend of $15–17 million planned for 2026.

• Kanmantoo mine life extension and throughput increase to 2+ Mtpa are key focus areas.

• Near-mine and regional exploration, including Mutooroo and Kanappa, are underway.