Trekor Metals (TKO) Nordic Funds & Mines Conference 2025 summary

Strategic asset development and operations

• Completing construction of a second producing asset, Florence Copper Project in Arizona, with first copper cathode production expected by year-end and full ramp-up in 2025-2027.

• Gibraltar Mine in British Columbia remains a foundational asset with 20 years of mine life remaining and ongoing strong production.

• Additional pipeline projects include Yellowhead Copper (environmental assessment started, 4-5 years of permitting ahead) and New Prosperity gold project, both longer-term opportunities.

Market outlook and copper fundamentals

• Copper market fundamentals are strong, driven by supply constraints and new demand from sectors like AI and data centers.

• Industry faces a looming supply deficit, exacerbated by recent disruptions at major global mines.

• Copper prices have risen significantly, with current levels over CAD 5/lb in the U.S.

Florence Copper Project specifics

• Florence uses in-situ recovery (ISR), a process with lower capital and operating costs, reduced water use, and lower GHG emissions compared to traditional mining.

• Project has a 22-year mine life, operating costs of CAD 1.11/lb, and upfront capital of CAD 265 million after updates.

• Commercial facility construction is substantially complete, with 90 new wells drilled and ready for operation.

• Expected to produce 40 million lbs of copper in the first ramp-up year, reaching 85 million lbs at capacity by 2027.