Ivanhoe Mines (IVN) Investor Presentation summary

Corporate overview and financial position

• Listed on TSX and OTCQX with a market cap of $17.62 billion and a share price of C$17.78 as of August 2024.

• Major shareholders include CITIC Metal (24.8%), Zijin Mining (13.0%), and Robert Friedland (12.8%).

• Cash position of $246 million and debt outstanding of $161 million as of July 2024.

• Redeemed $575 million convertible notes, resulting in a positive net cash position of $88 million.

• Strong balance sheet supports growth, with significant funding capacity and $3.7 billion in loans receivable.

Asset portfolio and production highlights

• Operates three world-class mines: Kamoa-Kakula (copper), Kipushi (zinc), and Platreef (PGMs, nickel, copper).

• Kamoa-Kakula is the world's fastest growing, highest-grade, and lowest-carbon major copper mine.

• Kipushi is the highest-grade, lowest-carbon major zinc mine, ramping up to steady-state production in 2024.

• Platreef is the world's largest undeveloped precious metals project, with phased ramp-up and industry-leading cash costs.

• Western Forelands offers significant exploration upside, with over 48 million tonnes of copper discovered since 2008.

Kamoa-Kakula copper complex performance

• Produced 100,812 tonnes of copper in concentrate in Q2 2024; 2024 guidance maintained at 440,000–490,000 tonnes.

• Achieved record Q2 EBITDA of $547 million and a 67% EBITDA margin; C1 cash cost at $1.52/lb.

• Generated $3.6 billion EBITDA in 2.5 years, exceeding combined Phase 1–3 capex of $3.5 billion.

• 30-year production profile targets 600,000 tpa copper, with NPV8% of $23.9 billion at $4.00/lb Cu.

• Phase 3 concentrator completed ahead of schedule; commercial production declared August 2024.