Volcan Cerro Assets

Óxidos, a State-of-the-Art Leaching Plant

• Óxidos a leaching plant located in Cerro de Pasco is designed to process and recover precious metals (doré bars)
• Current capacity of 2,500 tpd with potential to expand to 3,000 tpd.
• Start of operations: 2014 with CAPEX of USD 260 million.
• The plant processes Cerro stockpiles with silver and gold content as well as in-situ oxides located at the edge of the pit.
• 2018 Production: 3.4 million oz Ag & 4,100 oz Au
• 2018 Revenues: USD 56 million.
• 2019 Production: 3.3 million oz Ag & 16,300 oz Au (up 297%)
• 2019 Revenues (Estimated): USD 78 million (up 40%)

 Source: Volcan

Cerro, a Historical Rich Mine in Central Peru

Cerro comprises:

• 2 mines (currently under care and maintenance):
  • Cerro de Pasco Underground Mine
  • Raul Rojas Open Pit (See slide 20)
• 2 sulphide concentrator plants:
  • Current combined throughput of 7,000 tpd
  • Paragsha has authorized capacity of 17,500 tpd
  • San Expedito has authorized capacity of 1,800 tpd
• Supporting infrastructure in place and property package for exploration (approximately 11,000 has in the Cerro de Pasco Mining District)
• Currently Cerro treats remaining Cerro stockpiles.
• 2018 Production:11,000t Zn, 4,000t Pb, 0.4 million oz Ag
• 2018 Revenues: USD 29 million
• 2019 Production:17,000t Zn, 6,000t Pb, 0.8 million oz Ag
• 2019 Forecast Revenues: USD 53 million (up 82%)

Source: Volcan