PEA and Scoping Study

A PEA and Scoping Study was published for Kharmagtai in April 2022. This confirmed Kharmagtai’s potential to be a world class, low cost, long life copper-gold mine. The Study estimated 20% IRR (range 16-25%), US$630M NPV @ 8% (range US$405-850M), and 4 year payback (range 4-7 years) over a 30 year mine life. Projected production ranges from 30-50 ktpa copper and 50-110ktpa gold at a first quartile all-in sustaining cost (C1) of US$1.02/lb Cu for the first five years.

Scoping Study Results

Xanadu’s Position on the Cost Curve

Key assumptions, data sources and data reliability/quality information relating to this resource can be found in the Kharmagtai Technical report lodged on SEDAR, dated 20 June 2022.