$MUX : Los Azules Low Level Analysis

Long-Term Price Case$4/lb. Cu, $1,700/oz. Au, $24/oz. Ag
ProjectLos Azules
Estimated Indicated Resources11,256,700,000 CuEq lbs.
Average Annual Production276.9M lbs.
Payable Product10,243,597,000 CuEq lbs. Cu (4.6 Mt CuEq)
LoM37 Years
True All-in Costs (TAIC)$2.92/lb.
Gross Revenue$40,974,388,000
Treatment Charge($394,945,445)
Refining Charge($870,705,745)
Net Revenue$38,479,505,170
Total Operating Costs ($15,160,523,560)
Income Taxes($8,161,643,564)
Total Capital Costs($4,072,000,000)
Net Income$11,085,338,046
Net Profit Margin27%
Absolute Cost Structure (ACS)73%
MTQ Score (Higher is Better)0.4
Estimated Average Net Annual Cash Flow Contribution at the Long-term Price Cases$299,052,000

Los Azules is a good Project at $4/lb. Cu and higher, with manageable True All-in Costs of $2.92/lb.

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