AR Cand Drills 1 PV351 - 1 Dmm3-2 Jun08-V1

VERSION OFICIAL
Fcast Fcast Fcast

Jan Feb Mar
Operating Days 31 29 31
Optimal Cutoff 0.33% 0.33% 0.33%
Total Material Mined Ex-Pit (kt) 9,175 8,069 9,172

Total Material Mined (ex-pit+rehandle) 9,374 8,287 9,436
avg ktpd ex-pit 295,963 278,254 295,856

avg ktpd mov.tot. 302,386 285,755 304,377
Waste (kt) 7,039 5,051 5,839
Ore Hauled: from mine benches (kt) 1,503 1,580 1,547

%Cu 0.818% 0.700% 0.839%
g/t Au 0.195 0.170 0.211
g/t Ag 3.313 2.785 2.485
FEM 14.640 15.903 15.413
SPI 127.612 141.780 152.298
RQD 0.730 0.598 0.723
BWI 0.000 14.071 14.344
BAI 0.000 0.221 0.240
Low Grade Hauled (kt) 190 661 809

%Cu 0.280% 0.274% 0.269%
g/t Au 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000
FEM 0.000 0.000 0.000
from mine to Stock / High Grade Tobas(kt) 262 604 797

%Cu 0.53% 0.480% 0.537%
Rehandle from STOCKPILES (kt) 75 102 140

%Cu 0.630% 0.431% 0.395%
g/t Au 0.096 0.096 0.096
g/t Ag 1.700 1.700 1.700
FEM 0.000 0.000 0.000
0
from CANDELARIA NORTE (kt) 180 174 180
%Cu 1.058% 1.202% 1.412%
g/t Au 0.279 0.312 0.378
g/t Ag 6.851 8.197 8.789
FEM 7.196 7.631 7.886
from COEMIN (kt) 30 30 30

%Cu 1.000% 1.000% 1.000%
g/t Au 0.250 0.096 0.096
g/t Ag 2.250 1.700 1.700
FEM
from ALCAPARROSA (kt) 124 116 124

%Cu 0.993% 0.979% 1.140%
g/t Au 0.282 0.281 0.246
g/t Ag 2.108 2.479 1.917
FEM 0.000 0.000 0.000
INCREMENTO DEL I.O.S 153.72 - -

%Cu 0.85% 0.00% 0.00%
g/t Au 0.205 0.000 0.000
g/t Ag 3.488 0.000 0.000
FEM 12.186 0.000 0.000
WIP End of Month (Kt) 77,728 78,288 78,957

%Cu 0.400% 0.399% 0.398%
Non-Ore : Ore Ratio 5.1 4.1 4.9
Total Ore to Crusher (Kt) 1,913 2,001 2,021

1,759 2,001 2,021
TPD 56,736 69,005 65,190
Total Ore to Crusher/ Milled (Kt) 1,759 2,001 2,021
Mill Grade %Cu 0.848% 0.750% 0.880%
Mill Grade g/t Au 0.205 0.184 0.219
Mill Grade g/t Ag 3.488 3.166 2.945
FEM 12.186 13.216 12.499
Cu Recovery Plant from Mine 95.5% 95.5% 95.5%
Cu Recovery Plant from Stockpile 90.0% 90.0% 90.0%
Cu Recovery from UG 94.0% 94.0% 94.0%
Cu Recovery Plant 95.0% 95.0% 95.0%
Transportation Loss 0.2% 0.2% 0.2%
Cu Concentrate Tons 45,611 45,918 54,390
Cu Concentrate Grade 31.00% 31.00% 31.00%
Tailings - kton 1,713 1,955 1,966
Detail Payable Cu Production ('000 lbs)

From Mine 24,949 22,408 26,320
From Stockpile 904 836 1,058
From Candelaria Norte 3,801 4,174 5,073
From COEMIN 599 599 599
From Alcaparrosa 2,457 2,267 2,821
From I.O.S -2,490 0 0
WIP 570,479 573,003 575,980
Gross Cu Production ('000 lbs) 31,172 31,382 37,172
Gross Total Au Production (gr) 269,181 274,507 329,809

Ley de Au en conc (gr/ton) 5.90 5.98 6.06
Gross Total Ag Production (gr) 5,170,254 5,337,806 5,018,364

Ley de Ag en conc (gr/ton) 113.36 116.25 92.27
Payable Cu Production ('000 lbs) 30,081 30,284 35,871

95.02% 94.99% 94.97%
RESUMEN PLANTA DE PROCESOS Jan/08 Feb/08 Mar/08

Utilización SAG 1 % 94.1 97.7 97.2
RESUMEN MOVIMIENTO DE MATERIALES Jan/08 Feb/08 Mar/08

tpd. mov.tot. fase 6a 0 8,614 12,837
tpd. mov.tot. fase 6 26,861 6,249 0
tpd. mov.tot. fase 7 225,231 176,041 198,715
tpd. mov.tot. fase 8 38,065 81,350 78,497
290,156 272,254 290,049
num.shovels. fase 5 0 0 0
num.shovels. Rehandle 1 1 1
num.shovels.tot 7 6 7
1 0 1
CANDELARIA PD-1 Jan/08 Feb/08 Mar/08

Ton Total 1,635 1,885 1,897
Cu Head Grade 0.837% 0.736% 0.863%
Au Head Grade 0.199 0.178 0.217
Ag Head Grade 3.593 3.209 3.013
FEM 13.110 14.030 13.316

Conc -Ag (Grms/DMT) 118.96 120.79 96.73

Conc - Au. (grms/DMT) 5.83 5.91 6.14
Gross Metal Produced

Copper (klbs) 28,625 29,033 34,248
Silver (oz) 160,188 164,970 155,852
Gold (oz) 7,846 8,073 9,899
Cu Payable (klbs) 27,623 28,017 33,050

Silver Payable (ounces) 144,169 148,473 140,266
Gold Payable (ounces) 7,533 7,750 9,503
ALCAPARROSA PD-1 Jan/08 Feb/08 Mar/08

Ton Total 124 116 124
Esteril (kt) 8 8 8
Material Mined (kt) 132 124 132
Cu Head Grade 0.993% 0.979% 1.140%
Au Head Grade 0.282 0.281 0.246
Ag Head Grade 2.108 2.479 1.917

Gross Total Ag Production (gr) 187,826 206,632 170,807

Conc -Ag (Grms/DMT) 50.41 60.13 39.93

Conc - Au. (grms/DMT) 6.74 6.82 5.12

Copper (klbs) 2,547 2,349 2,924
Silver (oz) 6,039 6,643 5,492
Gold (oz) 808 753 705
Cu Payable (klbs) 2,457 2,267 2,821

Gold Payable (ounces) 759 708 662
MINA SANTOS PD-1 Jan/08 Feb/08 Mar/08

Ton Total PAC (kt) 114 106 114
Esteril (kt) 9 9 9
Cu Head Grade 1.040% 1.030% 1.040%
Au Head Grade 0.300 0.300 0.350
Ag Head Grade 3.000 3.000 4.500


Conc -Ag (Grms/DMT) 71.12 69.80 95.57

Conc - Au. (grms/DMT) 7.11 6.98 7.43

Copper (klbs) 2,436 2,238 2,427
Silver (oz) 8,083 7,078 11,867
Gold (oz) 808 708 923
Cu Payable (klbs) 2,350 2,160 2,342

Gold Payable (ounces) 760 665 868
OJOS DEL SALADO Jan/08 Feb/08 Mar/08

Ton Total 238 222 238
Esteril (kt) 17 17 17
Cu Head Grade 1.016% 1.003% 1.092%
Au Head Grade 0.291 0.290 0.296
Ag Head Grade 2.536 2.727 3.155


Conc -Ag (Grms/DMT) 58.73 61.98 67.34

Conc - Au. (grms/DMT) 6.72 6.60 6.31

Copper (klbs) 4,982 4,587 5,350
Silver (oz) 14,121 13,721 17,359
Gold (oz) 1,616 1,461 1,628
Cu Payable (klbs) 4,808 4,426 5,163

DISTRITO MINERO Jan/08 Feb/08 Mar/08


Copper (klbs) 33,608 33,620 39,599
Silver (oz) 174,309 178,691 173,210
Gold (oz) 9,463 9,533 11,527
Cu Payable (klbs) 32,431 32,443 38,213

2008
Budget Budget Budget Budget Budget Budget Budget Budget Budget
Apr May Jun Jul Aug Sep Oct Nov Dec
30 31 30 31 31 30 31 30 31
0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33%
9,002 9,103 9,033 9,212 9,185 9,351 9,589 8,993 9,279

9,131 9,241 9,162 9,511 9,479 9,629 9,872 9,261 9,555
300,083 293,633 301,102 297,174 296,290 311,686 309,325 299,760 299,335

304,364 298,112 305,413 306,809 305,769 320,972 318,461 308,696 308,217
6,060 6,011 6,073 6,140 6,766 6,750 6,949 6,708 7,479
1,540 1,521 1,651 1,898 1,404 1,481 1,668 1,778 1,413

0.627% 0.592% 0.604% 0.689% 0.785% 0.823% 0.807% 0.797% 0.761%
0.127 0.137 0.136 0.175 0.155 0.171 0.161 0.140 0.130
1.819 1.822 1.817 3.126 2.989 3.031 1.548 1.545 1.513
10.394 10.344 10.443 9.693 10.794 10.456 9.936 9.989 10.498
127.458 127.451 127.464 126.473 128.680 128.003 126.959 127.066 128.087
0.634 0.633 0.634 0.560 0.587 0.579 0.566 0.567 0.580
13.957 13.962 13.953 13.054 13.041 13.104 13.103 13.107 13.018
0.218 0.218 0.218 0.236 0.232 0.233 0.235 0.235 0.233
645 827 500 452 75 253 231 315 189

0.271% 0.271% 0.272% 0.280% 0.283% 0.281% 0.279% 0.279% 0.289%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
578 564 629 543 760 687 550

0.610% 0.590% 0.620% 0.610% 0.578% 0.505% 0.540%
8 15 9 175 170 159 159 148 151

0.395% 0.395% 0.395% 0.577% 0.600% 0.598% 0.595% 0.603% 0.604%
0.096 0.096 0.096 0.011 0.128 0.128 0.128 0.154 0.154
1.700 1.700 1.700 0.192 3.280 3.280 3.280 3.280 3.280
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
180 180 180 180 180 180 191 192 198

1.393% 1.075% 0.969% 1.098% 1.467% 1.415% 1.408% 1.447% 1.394%
0.357 0.347 0.258 0.349 0.365 0.297 0.290 0.284 0.344
8.391 7.705 5.149 7.706 8.640 7.372 7.428 7.348 7.877
7.696 8.956 10.514 9.920 9.015 8.841 7.852 8.104 9.047
30 30 30 30 30 30 30 30 30
1.000% 1.000% 1.000% 1.000% 1.000% 1.000% 1.000% 1.000% 1.000%
0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.096
1.700 1.700 1.700 1.700 1.700 1.700 1.700 1.700 1.700
120 124 120 124 124 120 124 120 124

1.039% 1.040% 1.038% 1.128% 1.129% 1.136% 1.124% 1.126% 1.072%
0.245 0.245 0.235 0.227 0.229 0.229 0.263 0.261 0.248
2.164 2.160 2.218 2.588 2.604 2.627 2.865 2.767 2.522
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
- - - 77.91 - - - - -
0.00% 0.00% 0.00% 0.74% 0.00% 0.00% 0.00% 0.00% 0.00%
0.000 0.000 0.000 0.178 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 3.210 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 8.386 0.000 0.000 0.000 0.000 0.000
79,593 80,406 80,897 81,174 81,079 81,173 81,245 81,412 81,449

0.397% 0.395% 0.395% 0.394% 0.393% 0.392% 0.392% 0.391% 0.390%
4.8 5.0 4.5 3.9 5.5 5.3 4.7 4.1 5.6
1,878 1,870 1,991 2,407 1,908 1,970 2,172 2,268 1,916

1,878 1,870 1,991 2,329 1,908 1,970 2,172 2,268 1,916
62,608 60,317 66,357 75,117 61,543 65,657 70,065 75,595 61,817
1,878 1,870 1,991 2,329 1,908 1,970 2,172 2,268 1,916
0.732% 0.674% 0.668% 0.738% 0.859% 0.881% 0.865% 0.859% 0.838%
0.156 0.163 0.152 0.178 0.176 0.181 0.175 0.159 0.161
2.469 2.408 2.140 3.210 3.503 3.403 2.269 2.215 2.380
9.258 9.277 9.614 8.386 8.794 8.670 8.320 8.517 8.675
95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5%
90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0%
95.0% 95.1% 95.1% 94.9% 94.8% 94.8% 94.9% 94.9% 94.8%
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
42,047 38,542 40,736 52,493 49,992 52,990 57,379 59,519 49,002
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
1,836 1,832 1,950 2,276 1,857 1,916 2,114 2,208 1,867
19,575 18,273 20,230 26,517 22,359 24,730 27,285 28,721 21,796

64 112 70 1,926 1,948 1,813 1,809 1,706 1,748
5,004 3,862 3,481 3,945 5,270 5,083 5,367 5,530 5,521
599 599 599 599 599 599 599 599 599
2,488 2,574 2,486 2,792 2,794 2,722 2,782 2,697 2,653
0 0 0 -1,099 0 0 0 0 0
579,129 583,133 585,561 586,038 584,557 584,118 583,564 583,538 582,862
28,736 26,341 27,840 35,875 34,166 36,215 39,214 40,677 33,489
218,355 227,844 226,217 309,241 251,113 266,340 283,571 268,920 230,473

5.19 5.91 5.55 5.89 5.02 5.03 4.94 4.52 4.70
3,899,894 3,785,025 3,578,893 6,299,829 5,627,119 5,645,131 4,135,206 4,217,708 3,828,050

92.75 98.20 87.86 120.01 112.56 106.53 72.07 70.86 78.12
27,730 25,419 26,866 34,620 32,971 34,947 37,842 39,253 32,317

95.04% 95.05% 95.11% 94.88% 94.76% 94.84% 94.87% 94.91% 94.78%
Apr/08 May/08 Jun/08 Jul/08 Aug/08 Sep/08 Oct/08 Nov/08 Dec/08

87.2 97.3 95.8 97.5 85.4 97.4 95.8 97.0 84.6
87.9 94.8 96.0 97.9 85.6 97.8 95.9 97.4 87.9

13,532 12,722 14,680 7,943 10,575 9,997 8,281 9,308 9,457
0 0 0 0 0 0 0 0
144,705 150,134 143,267 134,716 69,058 86,682 86,184 76,462 57,683
135,846 124,971 137,155 148,708 210,851 209,007 208,698 207,607 225,793
294,083 287,827 295,102 291,367 290,484 305,686 303,164 293,377 292,933
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
3 3 3 3 2 2 2 2 2
3 3 3 3 4 4 4 4 4
1 1 1 1 1 1 1 1 1
7 7 7 7 7 7 7 7 7
1 1 1 1 1 1 1 1 1

1,758 1,746 1,871 2,205 1,784 1,850 2,048 2,148 1,792
0.711% 0.648% 0.645% 0.716% 0.840% 0.865% 0.849% 0.844% 0.822%
0.150 0.158 0.147 0.175 0.173 0.178 0.170 0.153 0.155
2.490 2.426 2.135 3.245 3.565 3.453 2.233 2.184 2.370
9.890 8.858
95.148% 95.175% 95.229% 94.955% 94.832% 94.907% 94.943% 94.975% 94.846%
38,274 34,640 36,966 48,260 45,756 48,863 53,161 55,430 44,979
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
3,713,299 3,592,566 3,387,641 6,069,201 5,395,059 5,418,594 3,879,896 3,979,127 3,603,297

197,230 206,014 205,954 289,051 230,721 246,609 260,106 246,454 208,339
97.02 103.71 91.64 125.76 117.91 110.89 72.98 71.79 80.11

5.15 5.95 5.57 5.99 5.04 5.05 4.89 4.45 4.63
26,157 23,674 25,264 32,983 31,271 33,394 36,332 37,883 30,740

119,385 115,503 108,915 195,128 173,454 174,211 124,741 127,931 115,848
6,341 6,623 6,622 9,293 7,418 7,929 8,363 7,924 6,698
25,242 22,845 24,380 31,828 30,177 32,225 35,060 36,557 29,664

107,446 103,953 98,023 175,615 156,109 156,790 112,267 115,138 104,263
6,087 6,359 6,357 8,921 7,121 7,611 8,028 7,607 6,430

120 124 120 124 124 120 124 120 124
8 8 8 8 8 8 8 8 8
128 132 128 132 132 128 132 128 132
1.039% 1.040% 1.038% 1.128% 1.129% 1.136% 1.124% 1.126% 1.072%
0.245 0.245 0.235 0.227 0.229 0.229 0.263 0.261 0.248
2.164 2.160 2.218 2.588 2.604 2.627 2.865 2.767 2.522
94.000% 94.000% 94.000% 94.000% 94.000% 94.000% 94.000% 94.000% 94.000%

3,773 3,903 3,769 4,233 4,237 4,127 4,218 4,089 4,023
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
186,596 192,459 191,252 230,629 232,060 226,538 255,310 238,581 224,753

21,126 21,830 20,263 20,190 20,392 19,731 23,465 22,466 22,134
49.45 49.32 50.74 54.49 54.78 54.89 60.53 58.35 55.87

5.60 5.59 5.38 4.77 4.81 4.78 5.56 5.49 5.50
2,579 2,667 2,576 2,893 2,895 2,821 2,883 2,795 2,749

5,999 6,188 6,149 7,415 7,461 7,283 8,208 7,671 7,226
679 702 651 649 656 634 754 722 712
2,488 2,574 2,486 2,792 2,794 2,722 2,782 2,697 2,653

4,919 5,074 5,042 6,080 6,118 5,972 6,731 6,290 5,925
638 660 612 610 616 596 709 679 669

110 114 109 114 114 110 114 110 114
9 9 9 9 9 9 9 9 9
123 127 123 127 127 123 127 123 127
1.250% 1.130% 1.080% 1.000% 1.030% 1.100% 1.100% 1.110% 1.120%
0.350 0.350 0.350 0.350 0.350 0.350 0.350 0.350 0.350
4.500 4.500 4.500 4.500 4.500 4.500 4.500 4.500 4.500
93.200% 93.200% 93.200% 93.200% 93.200% 93.200% 93.200% 93.200% 93.200%

4,343 4,075 3,728 3,600 3,712 3,823 3,971 3,878 4,048
29.50% 29.50% 29.50% 29.50% 29.50% 29.50% 29.50% 29.50% 29.50%
356,667 369,117 352,103 369,117 369,117 356,667 369,117 356,667 369,117

27,741 28,709 27,386 28,709 28,709 27,741 28,709 27,741 28,709
90.34 88.28 86.01 84.55 91.45 91.45 91.37 97.43 97.43

7.03 6.87 6.69 6.58 7.11 7.11 7.11 7.58 7.58
2,818 2,644 2,419 2,336 2,409 2,481 2,577 2,516 2,626

11,467 11,867 11,320 11,867 11,867 11,467 11,867 11,467 11,867
892 923 880 923 923 892 923 892 923
2,720 2,552 2,335 2,254 2,325 2,394 2,487 2,428 2,535

9,403 9,731 9,283 9,731 9,731 9,403 9,731 9,403 9,731
838 868 828 868 868 838 868 838 868

230 238 229 238 238 230 238 230 238
17 17 17 17 17 17 17 17 17
251 259 251 259 259 251 259 251 259
1.140% 1.083% 1.058% 1.067% 1.082% 1.119% 1.112% 1.118% 1.095%
0.295 0.295 0.290 0.286 0.287 0.287 0.305 0.303 0.297
3.283 3.282 3.304 3.505 3.513 3.524 3.649 3.597 3.470
93.580% 93.600% 93.611% 93.640% 93.635% 93.623% 93.621% 93.620% 93.608%

8,116 7,978 7,497 7,833 7,949 7,950 8,189 7,967 8,071
30.20% 30.23% 30.25% 30.31% 30.30% 30.28% 30.27% 30.27% 30.25%
543,263 561,576 543,355 599,746 601,177 583,205 624,427 595,248 593,870

48,867 50,539 47,649 48,899 49,101 47,472 52,174 50,207 50,843
66.94 70.39 72.47 76.57 75.63 73.36 76.25 74.71 73.58

6.02 6.34 6.36 6.24 6.18 5.97 6.37 6.30 6.30
5,397 5,311 4,995 5,229 5,304 5,301 5,459 5,311 5,376

17,466 18,055 17,469 19,282 19,328 18,750 20,076 19,138 19,093
1,571 1,625 1,532 1,572 1,579 1,526 1,677 1,614 1,635
5,208 5,125 4,820 5,046 5,119 5,116 5,268 5,125 5,188

14,322 14,805 14,325 15,811 15,849 15,375 16,462 15,693 15,656
1,477 1,527 1,440 1,478 1,484 1,435 1,577 1,517 1,537

46,390 42,617 44,464 56,093 53,704 56,813 61,350 63,397 53,050
31,554 28,985 30,259 38,211 36,575 38,695 41,791 43,193 36,116

136,851 133,558 126,384 214,410 192,782 192,961 144,816 147,069 134,941
7,912 8,248 8,153 10,865 8,996 9,455 10,040 9,538 8,333
30,450 27,971 29,200 36,874 35,295 37,341 40,329 41,682 34,852

121,768 118,758 112,348 191,427 171,958 172,165 128,729 130,831 119,920
7,564 7,886 7,797 10,399 8,605 9,046 9,605 9,124 7,967
VERSION OFICIAL
Budget Budget
Total Jan Feb
366 Operating Days 31 28
Optimal Cutoff 0.35% 0.35%
109,163 Total Material Mined Ex-Pit (kt) 9,001 8,456

111,938 Total Material Mined (ex-pit+rehandle) 9,159 8,609
298.260 avg ktpd ex-pit 290,368 301,985

305.842 111938.25 avg ktpd mov.tot. 295,444 307,453
2,195
76,865 32,298 Waste (kt) 6,858 5,632
18,984 30,103 Ore Hauled: from mine benches (kt) 1,617 1,728
0.736% %Cu 0.620% 0.565%
0.159 g/t Au 0.150 0.122
2.312 g/t Ag 2.930 2.429
11.492 FEM 5.110 6.828
130.687 SPI 127.230 121.302
0.614 RQD 0.770 0.717
0.000 BWI 0.000 0.000
0.000 BAI 0.200 0.212
5,146 Low Grade Hauled (kt) 310 897

0.275% %Cu 0.300% 0.300%
0.000 g/t Au 0.070 0.074
0.000 g/t Ag 1.530 1.252
0.000 FEM 4.550 5.703
5,973 from mine to Stock / High Grade (kt) 0 0

0.560 %Cu 0.00% 0.00%
1,311 Rehandle from STOCKPILES (kt) 33 41

0.559% %Cu 0.395% 0.397%
0.110 g/t Au 0.096 0.096
2.447 g/t Ag 1.700 1.708
0.000 FEM 0.000 0.000
0 0
2,195 from CANDELARIA NORTE-SUR (kt) 186 168
1.281% %Cu 1.523% 1.639%
0.322 g/t Au 0.414 0.405
7.619 g/t Ag 9.544 9.181
8.556 FEM 8.352 8.352
360 from COEMIN (kt) 30 30

1.000% %Cu 1.000% 1.000%
0.109 g/t Au 0.150 0.000
1.746 g/t Ag 2.200 2.200
FEM
1,464 from ALCAPARROSA (kt) 124 112

1.079% %Cu 1.145% 1.048%
0.249 g/t Au 0.222 0.244
2.418 g/t Ag 2.125 2.068
0.000 FEM 0.000 0.000
232 INCREMENTO DEL I.O.S - -

%Cu 0.00% 0.00%
g/t Au 0.000 0.000
g/t Ag 0.000 0.000
FEM
81,449 WIP End of Month (Kt) 81,726 82,582

0.390% %Cu 0.390% 0.389%
Non-Ore : Ore Ratio 4.6 3.9
24,314 Total Ore to Crusher (Kt) 1,991 2,080

1,991 2,080
65,798 TPD 64,215 74,270
24,082 Total Ore to Crusher/ Milled (Kt) 1,991 2,080
0.800% Mill Grade %Cu 0.739% 0.681%
0.176 Mill Grade g/t Au 0.178 0.149
2.790 Mill Grade g/t Ag 3.466 2.938
9.734 FEM 4.932 6.350
95.50% Cu Recovery Plant from Mine 95.5% 95.5%
90.00% Cu Recovery Plant from Stockpile 90.0% 86.4%
94.00% Cu Recovery from UG 94.0% 94.0%
94.93% Cu Recovery Plant 95.0% 94.9%
0.2% Transportation Loss 0.2% 0.2%
588,617 Cu Concentrate Tons 44,989 43,261
31.0% Cu Concentrate Grade 31.00% 31.00%
23,491 Tailings - kton 1,946 2,037

283,164 From Mine 20,332 19,794
13,994 From Stockpile 252 299
56,112 From Candelaria Norte-Sur 5,654 5,497
7,185 From COEMIN 599 599
31,532 From Alcaparrosa 2,835 2,343
-3,589 From I.O.S 0 0
582,862 WIP 584,329 565,407
402,280 Gross Cu Production ('000 lbs) 30,747 29,566
3,155,571 Gross Total Au Production (gr) 264,769 231,238

5.36 Ley de Au en conc (gr/ton) 5.89 5.35
56,543,279 Gross Total Ag Production (gr) 5,819,168 5,152,033

96.06 Ley de Ag en conc (gr/ton) 129.35 119.09
388,201 Payable Cu Production ('000 lbs) 29,671 28,531

94.99% 94.95%
Año RESUMEN PLANTA DE PROCESOS Jan/09 Feb/09

93.9 Utilización SAG 1 % 97.2 91.5
93.6 Utilización SAG 2 % 97.2 90.8
Año RESUMEN MOVIMIENTO DE MATERIALES Jan/09 Feb/09

9,829 tpd. mov.tot. fase 6
3,010 tpd. mov.tot. fase 7 83,408 116,323
129,073 tpd. mov.tot. fase 8 199,993 178,591
150,546 tpd. mov.tot. Fase 9 0 0
292,207 283,400 294,913
0 num.shovels. fase 6 0 0
1 num.shovels. Rehandle 1 1
7 num.shovels.tot 7 7
0
Total CANDELARIA PD-1 Jan/09 Feb/09

22,618 Ton Total 1,867 1,968
0.782% Cu Head Grade 0.712% 0.660%
0.171 Au Head Grade 0.175 0.144
2.814 Ag Head Grade 3.555 2.987
4.866 FEM 5.260 6.711
53,999,838 Gross Total Ag Production (gr) 5,629,863 4,985,603

2,893,507 Gross Total Au Production (gr) 244,993 211,601
99.85 Conc -Ag (Grms/DMT) 138.36 125.55

5.35 Conc - Au. (grms/DMT) 6.02 5.33

369,604 Copper (klbs) 27,810 27,138
1,736,125 Silver (oz) 181,003 160,290
93,028 Gold (oz) 7,877 6,803
356,668 Cu Payable (klbs) 26,836 26,189

1,562,512 Silver Payable (ounces) 162,903 144,261
89,307 Gold Payable (ounces) 7,562 6,531
Total ALCAPARROSA PD-1 Jan/09 Feb/09

1,464 Ton Total 124 112
93 Esteril (kt) 20 20
1,557 Material Mined (kt) 144 132
1.079% Cu Head Grade 1.145% 1.048%
0.249 Au Head Grade 0.222 0.244
2.418 Ag Head Grade 2.125 2.068

2,543,443 Gross Total Ag Production (gr) 189,305 166,430

262,065 Gross Total Au Production (gr) 19,776 19,637
53.20 Conc -Ag (Grms/DMT) 44.04 46.85

5.48 Conc - Au. (grms/DMT) 4.60 5.53

32,676 Copper (klbs) 2,937 2,428
81,773 Silver (oz) 6,086 5,351
8,426 Gold (oz) 636 631
31,532 Cu Payable (klbs) 2,835 2,343

67,054 Silver Payable (ounces) 4,991 4,388
7,920 Gold Payable (ounces) 598 593
Total MINA SANTOS PD-1 Jan/09 Feb/09

1,345 Ton Total PAC (kt) 106 118
1.086% Cu Head Grade 1.081% 1.025%
0.342 Au Head Grade 0.350 0.350
4.255 Ag Head Grade 4.500 4.500


89.08 Conc -Ag (Grms/DMT) 92.30 97.35

7.16 Conc - Au. (grms/DMT) 7.56 7.97

29,927 Copper (klbs) 2,342 2,476
132,086 Silver (oz) 10,983 12,246
10,610 Gold (oz) 899 1,003
28,880 Cu Payable (klbs) 2,260 2,389

9,974 Gold Payable (ounces) 845 942
Total OJOS DEL SALADO Jan/09 Feb/09

2,809 Ton Total 230 230
1.082% Cu Head Grade 1.116% 1.036%
0.293 Au Head Grade 0.281 0.298
3.297 Ag Head Grade 3.217 3.315


70.82 Conc -Ag (Grms/DMT) 66.37 73.32

6.30 Conc - Au. (grms/DMT) 5.97 6.81

62,603 Copper (klbs) 5,279 4,903
213,859 Silver (oz) 17,069 17,597
19,036 Gold (oz) 1,535 1,634
60,412 Cu Payable (klbs) 5,094 4,732

Total DISTRITO MINERO Jan/09 Feb/09


432,208 Copper (klbs) 33,089 32,042
1,949,984 Silver (oz) 198,072 177,887
112,064 Gold (oz) 9,412 8,437
417,080 Cu Payable (klbs) 31,930 30,920

1,737,877 Silver Payable (ounces) 176,899 158,691
2009
Budget Budget Budget Budget Budget Budget Budget Budget Budget
Mar Apr May Jun Jul Aug Sep Oct Nov
31 30 31 30 31 31 30 31 30
0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35%
9,265 9,064 9,177 9,118 9,403 9,429 8,796 8,805 8,503

9,423 9,240 9,339 9,255 9,560 9,578 8,949 8,952 8,632
298,882 302,137 296,028 303,948 303,308 304,166 293,186 284,033 283,438

303,984 307,985 301,253 308,498 308,383 308,980 298,312 288,772 287,740
6,496 6,419 6,761 6,363 6,211 6,594 5,594 6,080 5,953
1,748 1,809 1,736 1,625 1,797 1,929 1,753 1,712 1,476

0.713% 0.565% 0.574% 0.518% 0.515% 0.473% 0.464% 0.474% 0.546%
0.155 0.125 0.116 0.110 0.109 0.101 0.101 0.100 0.115
3.360 2.004 2.277 1.805 2.039 1.957 1.914 1.990 1.435
8.259 5.564 7.644 5.429 6.135 5.388 5.735 6.442 9.137
114.259 117.167 111.334 113.420 114.044 117.685 117.772 118.598 120.154
0.664 0.714 0.655 0.748 0.709 0.754 0.774 0.762 0.719
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.172 0.189 0.177 0.188 0.181 0.189 0.191 0.200 0.239
805 626 464 921 1,179 690 1,253 797 864

0.290% 0.290% 0.300% 0.290% 0.310% 0.290% 0.291% 0.301% 0.292%
0.070 0.061 0.070 0.069 0.070 0.065 0.071 0.071 0.066
0.960 0.975 1.470 0.862 1.480 1.290 1.428 1.562 1.351
4.360 3.646 5.070 4.207 4.200 3.852 5.543 5.305 3.942
0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
34 55 38 16 33 25 34 23 9
0.397% 0.395% 0.395% 0.395% 0.395% 0.395% 0.395% 0.395% 0.395%
0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.096
1.708 1.708 1.708 1.708 1.708 1.708 1.708 1.708 1.708
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0 0 0
186 180 186 180 186 186 165 186 180
1.556% 1.671% 1.351% 1.409% 1.322% 1.397% 1.351% 1.355% 1.158%
0.370 0.411 0.338 0.342 0.311 0.339 0.343 0.344 0.277
7.918 6.920 6.676 6.966 6.179 6.830 6.769 5.814 5.452
8.690 9.562 12.127 11.596 10.828 11.393 13.928 14.054 15.203
30 30 30 30 30 30 30 30 30
1.000% 1.000% 1.000% 1.000% 1.000% 1.000% 1.000% 1.000% 1.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200
124 120 124 120 124 124 120 124 120

1.048% 1.050% 1.080% 1.062% 1.063% 1.010% 1.025% 1.080% 0.931%
0.244 0.244 0.251 0.246 0.227 0.213 0.219 0.256 0.226
2.073 2.078 2.184 2.158 2.024 1.880 1.902 2.398 1.973
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
83,354 83,924 84,351 85,255 86,400 87,065 88,284 89,058 89,913

0.388% 0.387% 0.387% 0.386% 0.385% 0.384% 0.382% 0.382% 0.381%
4.3 4.0 4.3 4.6 4.2 3.9 4.0 4.1 4.8
2,122 2,194 2,114 1,972 2,170 2,295 2,102 2,075 1,815

2,122 2,194 2,114 1,972 2,170 2,295 2,102 2,075 1,815
68,445 73,143 68,193 65,724 70,006 74,023 70,082 66,932 60,512
2,122 2,194 2,114 1,972 2,170 2,295 2,102 2,075 1,815
0.805% 0.684% 0.675% 0.639% 0.620% 0.583% 0.573% 0.596% 0.639%
0.176 0.153 0.141 0.138 0.131 0.125 0.125 0.129 0.137
3.642 2.407 2.647 2.302 2.390 2.348 2.296 2.357 1.883
7.565 5.371 7.345 5.534 6.008 5.454 5.878 6.575 8.938
95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5%
86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4%
94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0%
95.0% 94.9% 95.0% 95.0% 95.0% 95.0% 94.9% 94.9% 95.0%
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
52,277 45,868 43,637 38,496 41,163 40,930 36,797 37,796 35,474
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
2,069 2,149 2,071 1,934 2,129 2,254 2,066 2,038 1,780
25,260 20,731 20,219 17,065 18,769 18,525 16,513 16,458 16,341

249 402 275 120 241 183 245 166 66
5,776 6,004 5,014 5,062 4,908 5,188 4,456 5,032 4,160
599 599 599 599 599 599 599 599 599
2,594 2,515 2,673 2,543 2,631 2,500 2,455 2,673 2,230
0 0 0 0 0 0 0 0 0
569,282 572,090 574,277 578,864 585,069 588,412 594,604 598,673 603,047
35,728 31,348 29,823 26,309 28,132 27,973 25,148 25,831 24,244
278,286 249,891 222,605 202,152 212,406 213,877 195,893 200,113 184,842

5.32 5.45 5.10 5.25 5.16 5.23 5.32 5.29 5.21
6,521,117 4,447,550 4,712,288 3,817,532 4,367,269 4,540,265 4,065,053 4,110,476 2,868,593

124.74 96.96 107.99 99.17 106.10 110.93 110.47 108.75 80.87
34,477 30,250 28,779 25,388 27,148 26,994 24,268 24,927 23,395

95.03% 94.91% 94.97% 94.96% 94.96% 94.97% 94.93% 94.93% 95.02%
Mar/09 Apr/09 May/09 Jun/09 Jul/09 Aug/09 Sep/09 Oct/09 Nov/09

98.5 97.3 97.3 86.8 98.2 97.2 98.7 98.2 97.2
98.7 95.7 98.7 88.3 98.7 97.2 85.5 98.7 97.2
105,788 103,680 88,710 118,848 119,176 111,806 130,567 129,979 139,618

186,126 191,456 200,350 178,101 177,164 185,393 156,110 147,085 136,820
0 0 0 0 0 0 0 0 0
291,914 295,137 289,060 296,948 296,340 297,199 286,677 277,065 276,438
0 0 0 0 0 0 0 0 0
2 4 4 4 4 4 4 3 3
4 2 2 2 2 2 2 3 3
0 0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1 1
7 7 7 7 7 7 7 7 7

1,998 2,074 1,990 1,852 2,046 2,171 1,982 1,951 1,695
0.790% 0.663% 0.650% 0.611% 0.594% 0.559% 0.545% 0.565% 0.618%
0.172 0.147 0.134 0.131 0.125 0.120 0.119 0.121 0.130
3.739 2.426 2.676 2.312 2.412 2.375 2.320 2.355 1.876
8.034 5.682 7.802 5.892 6.372 5.765 6.234 6.993 9.571
95.118% 94.994% 95.068% 95.072% 95.061% 95.067% 95.036% 95.042% 95.128%
48,345 42,055 39,585 34,639 37,175 37,140 33,074 33,744 32,093
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
6,336,377 4,268,391 4,517,712 3,631,467 4,186,941 4,372,744 3,901,041 3,896,772 2,698,435

256,546 228,842 200,213 180,978 192,194 194,867 177,017 177,324 165,319
131.07 101.50 114.13 104.84 112.63 117.74 117.95 115.48 84.08

5.31 5.44 5.06 5.22 5.17 5.25 5.35 5.26 5.15
33,040 28,742 27,053 23,674 25,406 25,383 22,604 23,062 21,933

203,718 137,231 145,247 116,754 134,612 140,586 125,421 125,283 86,756
8,248 7,357 6,437 5,819 6,179 6,265 5,691 5,701 5,315
31,884 27,736 26,107 22,845 24,517 24,494 21,813 22,254 21,166

183,346 123,508 130,722 105,078 121,151 126,528 112,879 112,755 78,081
7,918 7,063 6,179 5,586 5,932 6,014 5,464 5,473 5,102

124 120 124 120 124 124 120 124 120
20 20 20 20 20 20 20 25 25
144 140 144 140 144 144 140 149 145
1.048% 1.050% 1.080% 1.062% 1.063% 1.010% 1.025% 1.080% 0.931%
0.244 0.244 0.251 0.246 0.227 0.213 0.219 0.256 0.226
2.073 2.078 2.184 2.158 2.024 1.880 1.902 2.398 1.973
94.000% 94.000% 94.000% 94.000% 94.000% 94.000% 94.000% 94.000% 94.000%

3,933 3,813 4,053 3,857 3,989 3,790 3,722 4,053 3,381
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
184,740 179,159 194,576 186,065 180,329 167,520 164,012 213,705 170,158

21,740 21,049 22,393 21,174 20,212 19,010 18,876 22,789 19,523
46.98 46.99 48.01 48.25 45.21 44.20 44.06 52.73 50.33

5.53 5.52 5.53 5.49 5.07 5.02 5.07 5.62 5.77
2,688 2,606 2,770 2,636 2,726 2,590 2,544 2,770 2,311

5,939 5,760 6,256 5,982 5,798 5,386 5,273 6,871 5,471
699 677 720 681 650 611 607 733 628
2,594 2,515 2,673 2,543 2,631 2,500 2,455 2,673 2,230

4,870 4,723 5,130 4,905 4,754 4,416 4,324 5,634 4,486
657 636 677 640 611 575 570 689 590

114 118 114 118 114 118 116 118 117
0 0 0 0 0 0 0 0 0
114 118 114 118 114 118 116 118 117
0.984% 0.985% 0.984% 0.985% 0.840% 1.010% 1.010% 1.010% 1.010%
0.350 0.350 0.350 0.350 0.350 0.350 0.350 0.350 0.350
4.500 4.500 4.500 4.500 4.500 4.500 4.500 4.500 4.500
93.200% 93.200% 93.200% 93.200% 93.200% 93.200% 93.200% 93.200% 93.200%

3,634 3,759 3,634 3,759 3,105 3,856 3,783 3,856 3,830
28.70% 28.70% 28.70% 28.70% 28.70% 28.70% 28.70% 28.70% 28.70%
368,623 380,911 368,623 380,911 368,623 380,911 373,661 380,911 378,324

30,176 31,181 30,176 31,181 30,176 31,181 30,588 31,181 30,970
101.43 101.34 101.43 101.34 118.73 98.78 98.78 98.78 98.78

8.30 8.30 8.30 8.30 9.72 8.09 8.09 8.09 8.09
2,300 2,378 2,300 2,378 1,964 2,440 2,393 2,440 2,423

11,851 12,246 11,851 12,246 11,851 12,246 12,013 12,246 12,163
970 1,003 970 1,003 970 1,003 983 1,003 996
2,219 2,295 2,219 2,295 1,896 2,354 2,310 2,354 2,338

9,718 10,042 9,718 10,042 9,718 10,042 9,851 10,042 9,974
912 942 912 942 912 942 924 942 936

238 238 238 238 238 242 236 242 237
20 20 20 20 20 20 20 25 25
258 258 258 258 258 262 255 267 262
1.017% 1.018% 1.034% 1.024% 0.956% 1.010% 1.018% 1.046% 0.970%
0.295 0.297 0.299 0.297 0.286 0.280 0.283 0.302 0.287
3.236 3.278 3.293 3.318 3.210 3.156 3.177 3.422 3.221
93.629% 93.617% 93.635% 93.619% 93.663% 93.610% 93.610% 93.624% 93.589%

7,567 7,572 7,687 7,615 7,094 7,646 7,505 7,909 7,211
29.90% 29.86% 29.91% 29.86% 29.99% 29.84% 29.84% 29.88% 29.78%
553,363 560,070 563,199 566,976 548,952 548,431 537,673 594,616 548,482

51,916 52,230 52,569 52,355 50,388 50,191 49,464 53,970 50,493
73.13 73.97 73.27 74.45 77.39 71.73 71.64 75.19 76.07

6.86 6.90 6.84 6.88 7.10 6.56 6.59 6.82 7.00
4,987 4,984 5,069 5,014 4,691 5,030 4,937 5,209 4,734

17,791 18,007 18,107 18,229 17,649 17,632 17,286 19,117 17,634
1,669 1,679 1,690 1,683 1,620 1,614 1,590 1,735 1,623
4,813 4,810 4,892 4,838 4,526 4,854 4,764 5,027 4,568

14,589 14,765 14,848 14,947 14,472 14,459 14,175 15,676 14,460
1,569 1,578 1,589 1,582 1,523 1,517 1,495 1,631 1,526

55,911 49,627 47,272 42,254 44,268 44,786 40,579 41,652 39,304
38,027 33,726 32,123 28,688 30,097 30,413 27,541 28,271 26,667

221,509 155,238 163,354 134,982 152,262 158,219 142,707 144,401 104,390
9,917 9,037 8,127 7,502 7,799 7,879 7,281 7,436 6,938
36,697 32,545 30,998 27,683 29,044 29,348 26,577 27,282 25,734

197,935 138,273 145,570 120,026 135,624 140,986 127,054 128,431 92,540
9,487 8,642 7,768 7,168 7,455 7,531 6,958 7,104 6,628
Budget
Dec
31 365
0.35%
8,666 107,683
9,310 110,006
279,553 295.023
300,328 301.387
6,613 75,572
1,313 20,244
0.526% 0.546%
0.117 0.118
1.473 2.152
8.136 6.586
122.025 117.750
0.810 0.731
0.000 0.000
0.201 0.195
525 9,331
0.298% 0.296%
0.067 0.069
1.106 1.273
5.645 4.683
0 0
0.00% #DIV/0!
520 863
0.618% 0.529%
0.150 0.129
2.200 2.004
0.000 0.000
0
186 2,175
1.048% 1.397%
0.247 0.345
5.415 6.960
15.536 11.636
30 360
1.000% 1.000%
0.000 0.000
2.200 2.200
124 1,460
0.918% 1.039%
0.233 0.235
1.804 2.056
0.000 0.000
- 0
0.00%
0.000
0.000
89,918 89,918
0.379% 0.379%
5.6
2,173 25,103
2,173
70,095 68,774
2,173 25,103
0.622% 0.654%
0.141 0.143
2.013 2.559
6.246 6.320
95.5% 95.50%
86.4% 86.69%
94.0% 94.00%
93.0% 94.80%
0.2% 0.2%
40,428 501,116
31.00% 31.0%
2,132 24,605
14,009 224,016
5,893 8,390
3,890 60,641
599 7,185
2,272 30,261
0 0
600,139 600,139
27,630 342,479
228,358 2,684,430
5.65 5.36
3,681,804 54,103,148
91.07 107.97
26,663 330,493
92.96%
Dec/09 Año
98.7 96.4
85.5 94.3
Dec/09 Año
#DIV/0!
131,208 114,926
141,377 173,214
0 0
272,586 288,140
0 0
3 3
3 3
0 0
1 1
7 7
Dec/09 Total
2,049 23,643
0.604% 0.630%
0.135 0.138
2.026 2.590
6.624 6.710
92.864% 94.882%
36,983 455,232
31.00% 31.00%
3,521,073 51,946,419
207,630 2,437,524
95.21 114.11
5.61 5.35
25,276 311,120
113,204 1,670,106
6,675 78,368
24,391 300,231
101,884 1,503,096
6,408 75,233
Dec/09 Total
124 1,460
25 254
149 1,714
0.918% 1.039%
0.233 0.235
1.804 2.056
94.000% 94.000%
3,445 45,884
31.00% 31.00%
160,731 2,156,730
20,728 246,907
46.66 47.00
6.02 5.38
2,354 31,359
5,168 69,340
666 7,938
2,272 30,261
4,237 56,859
626 7,462
Dec/09 Total
118 1,387
0 39
118 1,426
1.010% 0.994%
0.350 0.350
4.500 4.500
93.200% 93.200%
3,856 44,685
28.70% 28.70%
380,911 4,484,918
31,181 367,137
98.78 100.37
8.09 8.22
2,440 28,273
12,246 144,193
1,003 11,804
2,354 27,284
10,042 118,238
942 11,095
Dec/09 Total
242 2,847
25 293
267 3,140
0.963% 1.017%
0.290 0.291
3.117 3.247
93.591% 93.619%
7,301 90,569
29.79% 29.87%
541,642 6,641,648
51,909 614,044
74.19 73.33
7.11 6.78
4,794 59,632
17,414 213,533
1,669 19,742
4,626 57,545
14,280 175,097
1,569 18,557
Dec/09 Total
44,284 545,801
30,070 370,753
130,619 1,883,639
8,344 98,110
29,017 357,776
116,164 1,678,193
7,977 93,790
VERSION OFICIAL
2010 2011 2012

Budget Budget Budget Budget
2010 2011 2012
Operating Days 365 365 366
Optimal Cutoff 0.35% 0.30% 0.30%
Total Material Mined Ex-Pit (kt) 111,428 109,543 106,263

Total Material Mined (ex-pit+rehandle) 115,206 111,553 107,689
avg ktpd ex-pit 305,283 300,117 290,335

avg ktpd mov.tot. 315,632 305,625 294,233
Waste (kt) 81,495 79,814 76,979
Ore Hauled: from mine benches (kt) 18,980 20,271 21,943

%Cu 0.659% 0.592% 0.676%
g/t Au 0.149 0.140 0.158
g/t Ag 2.245 1.557 2.131
FEM 11.625 4.854 3.744
SPI 144.540 140.879 135.620
RQD 0.787 0.863 0.871
BWI 0.000 0.000 0.000
BAI 0.202 0.213 0.207
Low Grade Hauled (kt) 8,733 7,237 5,115

%Cu 0.291% 0.260% 0.260%
g/t Au 0.085 0.064 0.071
g/t Ag 1.175 0.999 1.155
FEM 9.395 3.776 2.877
from mine to Stock / High Grade (kt) 0 0 0

%Cu 0.00% 0.00% 0.00%
Rehandle from STOCKPILES (kt) 3,778 2,010 1,427

%Cu 0.613% 0.482% 0.395%
g/t Au 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000
FEM 0.000 0.000 0.000
0 0 0
from CANDELARIA NORTE (kt) 2,190 2,190 2,196
%Cu 1.306% 1.404% 1.195%
g/t Au 0.286 0.298 0.225
g/t Ag 6.329 5.344 3.259
FEM 13.863 11.091 12.098
from COEMIN (kt) 30 30 30

%Cu 1.000% 1.000% 1.000%
g/t Au 0.150 0.150 0.150
g/t Ag 2.200 2.200 2.200
FEM 0.000 0.000 0.000
from ALCAPARROSA (kt) 0 0 0

%Cu 0.000% 0.000% 0.000%
g/t Au 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000
FEM 0.000 0.000 0.000
INCREMENTO DEL I.O.S - - -

%Cu 0.00% 0.00% 0.00%
g/t Au 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000
FEM 0.000 0.000 0.000
WIP End of Month (Kt) 94,873 100,100 103,789

%Cu 0.362% 0.350% 0.345%
Non-Ore : Ore Ratio 4.9 4.4 3.8
Total Ore to Crusher (Kt) 24,978 24,502 25,595

24,978 24,502 25,595
TPD 68,432 67,128 69,933
Total Ore to Crusher/ Milled (Kt) 24,978 24,502 25,595
Mill Grade %Cu 0.709% 0.656% 0.705%
Mill Grade g/t Au 0.139 0.143 0.155
Mill Grade g/t Ag 2.264 1.768 2.109
FEM 10.049 5.007 4.248
Cu Recovery Plant from Mine 95.5% 95.5% 95.5%
Cu Recovery Plant from Stockpile 90.0% 90.0% 90.0%
Cu Recovery from UG 94.0% 94.0% 94.0%
Transportation Loss 0.2% 0.2% 0.2%
Tailings - kton 24,438 24,014 25,046

From Mine 253,573 243,178 300,753
From Stockpile 44,226 18,528 10,769
From Candelaria Norte 57,068 61,355 52,374
From Candelaria Sur 599 599 599
From Alcaparrosa 0 0 0
From I.O.S 0 0 0
WIP 629,375 641,859 655,938
Gross Cu Production ('000 lbs) 368,359 335,399 377,715
Gross Total Au Production (gr) 2,864,023 2,819,507 2,971,920

Ley de Au en conc (gr/ton) 5.31 5.75 5.38

Ley de Ag en conc (gr/ton) 92.50 77.20 82.85
Payable Cu Production ('000 lbs) 355,466 323,660 364,495
RESUMEN PLANTA DE PROCESOS 10 11 12

RESUMEN MOVIMIENTO DE MATERIALES 10 11 12

tpd. mov.tot. fase 6 0 0 0
tpd. mov.tot. fase 7 57,930 0 0
tpd. mov.tot. fase 8 224,659 152,467 129,782
tpd. mov.tot. Fase 9 16,612 141,568 154,471
299,201 294,035 284,253
num.shovels. Rehandle 1 1 1
num.shovels.tot 7 7 7
CANDELARIA PD-1 10 11 12
Ton Total 24,978 24,502 25,595
Cu Head Grade 0.709% 0.656% 0.705%
Au Head Grade 0.139 0.143 0.155
Ag Head Grade 2.264 1.768 2.109


Gross Total Au Production (gr) 2,592,455 2,617,677 2,971,920
Conc -Ag (Grms/DMT) 88.99 74.90 82.85

Conc - Au. (grms/DMT) 4.81 5.33 5.38

Copper (klbs) 368,359 335,399 377,715
Silver (oz) 1,542,091 1,181,765 1,472,066
Gold (oz) 83,349 84,160 95,549
Cu Payable (klbs) 355,466 323,660 364,495

Silver Payable (ounces) 1,387,882 1,063,588 1,324,859
ALCAPARROSA PD-1 10 11 12
Ton Total 1,387 935 0
Material Mined (kt) 1,512 935 0
Cu Head Grade 1.026% 1.019% 0.000%
Au Head Grade 0.272 0.300 0.000
Ag Head Grade 1.896 1.678 0.000
Cu Recovery Plant 94.000% 94.000%

Cu Concentrate Tons 43,065 28,825 0
Gross Total Ag Production (gr) 1,889,933 1,127,342 0

Gross Total Au Production (gr) 271,567 201,829 0
Conc -Ag (Grms/DMT) 43.89 39.11 0.00

Conc - Au. (grms/DMT) 6.31 7.00 0.00

Copper (klbs) 29,432 19,700 0
Silver (oz) 60,762 36,245 0
Gold (oz) 8,731 6,489 0
Cu Payable (klbs) 28,402 19,011 -

Silver Payable (ounces) 49,825 29,721 -
Gold Payable (ounces) 8,207 6,100 -
MINA SANTOS PD-1 10 11 12

Ton Total PAC (kt) 0 0 0
Esteril (kt) 0 0 0
Cu Head Grade 0.000% 0.000% 0.000%
Au Head Grade 0.000 0.000 0.000
Ag Head Grade 0.000 0.000 0.000

Cu Concentrate Tons 0 0 0
Gross Total Ag Production (gr) 0 0 0

Gross Total Au Production (gr) 0 0 0
Conc -Ag (Grms/DMT) 0.00 0.00 0.00

Conc - Au. (grms/DMT) 0.00 0.00 0.00

Copper (klbs) 0 0 0
Silver (oz) 0 0 0
Gold (oz) 0 0 0
Cu Payable (klbs) - - -
Silver Payable (ounces) - - -
Gold Payable (ounces) - - -
OJOS DEL SALADO 10 11 12

Ton Total 1,387 935 0
Material Mined (kt) 1,512 935 0
Cu Head Grade 1.026% 1.019% 0.000%
Au Head Grade 0.272 0.300 0.000
Ag Head Grade 1.896 1.678 0.000

Cu Concentrate Tons 43,065 28,825 0
Gross Total Ag Production (gr) 1,889,933 1,127,342 0

Gross Total Au Production (gr) 271,567 201,829 0
Conc -Ag (Grms/DMT) 43.89 39.11 0.00

Conc - Au. (grms/DMT) 6.31 7.00 0.00

Copper (klbs) 29,432 19,700 0
Silver (oz) 60,762 36,245 0
Gold (oz) 8,731 6,489 0
Cu Payable (klbs) 28,402 19,011 -

Silver Payable (ounces) 49,825 29,721 -
Gold Payable (ounces) 8,207 6,100 -
DISTRITO MINERO 10 11 12

Copper (klbs) 397,790 355,099 377,715
Silver (oz) 1,602,853 1,218,009 1,472,066
Gold (oz) 92,080 90,649 95,549
Cu Payable (klbs) 383,868 342,670 364,495

Silver Payable (ounces) 1,437,707 1,093,309 1,324,859
Budget Budget Budget Budget Budget Budget Budget Budget
2008 2009
ore 30,103 29,576

waste 76,865 75,572
(no incluye 106,968 105,148

Cnorte
CNorte 2,195 2,535
109,163 107,683
Candelaria Blasting ClasOre

Year Weak Average
0 3,865 8,547
1 3,798 26,129
2 9,678 8,477
3 91 21,936
4 1,356 25,232
5 12,512 12,685
6 13,210 2,522
7 480 8,246
8 1,457 15,812
9 3,259 23,495
10 6,274 21,405
11 14,904 2,622
12 0 0
13 1,677 4,557
14 3,235 4,189
15 5,504 3,281
16 8,891 42
Total 90,192 189,178
2008-ore weak average

% Tipos de rocas 2008 13.27% 29.36%
(desde el 2009 12.03% 82.73%
LOM Anterior) 2010 34.31% 30.05%
2011 0.33% 79.85%
2012 4.71% 87.64%
2013 48.15% 48.82%
2014 66.18% 12.64%
2015 1.96% 33.72%
2016 5.55% 60.17%
2017 11.96% 86.23%
2018 21.85% 74.55%
2019 82.48% 14.51%
2020 0.00% 0.00%
2021 22.31% 60.60%
2022 34.38% 44.51%
2023 45.34% 27.03%
2024 94.84% 0.45%
distribución tonelajes - Budget 2008 + LOM 2008 (a partir del 2013)
Ore weak average

2008 3,996 8,837
2009 3,557 24,469
2010 9,509 8,328
2011 91 21,965
2012 1,275 23,713
2013 12,540 12,714
2014 14,077 2,688
2015 479 8,225
2016 1,457 15,812
2017 3,259 23,495
2018 6,274 21,405
2019 14,904 2,622
2020 0 0
2021 1,677 4,557
2022 3,235 4,189
2023 5,504 3,281
2024 8,891 42
2010 2011 2012 2013 2014 2015 2016 2017 2018
27,713 27,508 27,058 26,042 21,269 24,391 26,278 27,248 28,712

81,495 79,814 76,979 76,183 78,551 37,994 7,822 18,105 12,106
109,208 107,323 104,037 102,226 99,820 62,385 34,100 45,354 40,818
2,220 4,200 2,226

111,428 111,523 106,263
Waste
Hard X-Hard Total Weak Average Hard X-Hard Total
2,604 14,098 29,114 2,008 5 14,382 17,843 44,282 76,512
515 1,140 31,583 2,009 185 9,597 47,255 18,178 75,215
3,245 6,807 28,207 2,010 156 5,450 60,248 11,462 77,316
2,483 2,963 27,473 2,011 30 23,974 16,080 36,154 76,238
1,956 248 28,792 2,012 60 23,305 9,456 46,270 79,091
707 80 25,984 2,013 34 1,416 32,596 41,959 76,005
1,116 3,111 19,959 2,014 82 2,566 51,591 24,253 78,492
3,146 12,581 24,454 2,015 668 10,439 18,313 11,735 41,156
2,565 6,444 26,278 2,016 58 5,362 728 1,675 7,822
226 268 27,248 2,017 354 16,208 95 1,447 18,105
496 537 28,712 2,018 114 9,243 236 2,513 12,106
0 543 18,069 2,019 270 8,532 144 11,651 20,597
29 36 64 2,020 0 0 2,140 17,546 19,687
635 651 7,520 2,021 43 677 9,338 5,113 15,172
654 1,332 9,410 2,022 285 16,048 1,523 7,961 25,817
437 2,918 12,141 2,023 128 14,882 129 8,874 24,013
13 429 9,375 2,024 74 89 0 2,360 2,523
20,826 54,185 354,380 2,472 162,083 267,715 291,073 725,866
hard X-hard 2008-waste weak average hard X-hard

8.95% 48.42% 2008 0.01% 18.80% 23.32% 57.88%
1.63% 3.61% 2009 0.25% 12.76% 62.83% 24.17%
11.50% 24.13% 2010 0.20% 7.05% 77.92% 14.82%
9.04% 10.79% 2011 0.04% 31.45% 21.09% 47.42%
6.79% 0.86% 2012 0.08% 29.47% 11.96% 58.50%
2.72% 0.31% 2013 0.04% 1.86% 42.89% 55.21%
5.59% 15.59% 2014 0.10% 3.27% 65.73% 30.90%
12.87% 51.45% 2015 1.62% 25.37% 44.50% 28.51%
9.76% 24.52% 2016 0.74% 68.55% 9.30% 21.41%
0.83% 0.98% 2017 1.96% 89.52% 0.53% 7.99%
1.73% 1.87% 2018 0.94% 76.35% 1.95% 20.76%
0.00% 3.00% 2019 1.31% 41.42% 0.70% 56.57%
44.52% 55.48% 2020 0.00% 0.00% 10.87% 89.13%
8.44% 8.66% 2021 0.28% 4.47% 61.55% 33.70%
6.95% 14.16% 2022 1.10% 62.16% 5.90% 30.84%
3.60% 24.04% 2023 0.53% 61.98% 0.54% 36.96%
0.14% 4.57% 2024 2.94% 3.52% 0.00% 93.55%
hard X-hard Waste weak average hard X-hard

2,693 14,577 30,103 2008 5 14,449 17,925 44,486 76,865
482 1,068 29,576 2009 186 9,642 47,479 18,264 75,572
3,188 6,688 27,713 2010 164 5,745 63,505 12,081 81,495
2,486 2,967 27,508 2011 32 25,099 16,834 37,850 79,814
1,838 233 27,058 2012 59 22,683 9,203 45,034 76,979
709 80 26,042 2013 34 1,419 32,672 42,058 76,183
1,190 3,315 21,269 2014 82 2,568 51,630 24,271 78,551
3,138 12,548 24,391 2015 617 9,637 16,906 10,834 37,994
2,565 6,444 26,278 2016 58 5,362 728 1,675 7,822
226 268 27,248 2017 354 16,208 95 1,447 18,105
496 537 28,712 2018 114 9,243 236 2,513 12,106
0 543 18,069 2019 270 8,532 144 11,651 20,597
29 36 64 2020 0 0 2,140 17,546 19,687
635 651 7,520 2021 43 677 9,338 5,113 15,172
654 1,332 9,410 2022 285 16,048 1,523 7,961 25,817
437 2,918 12,141 2023 128 14,882 129 8,874 24,013
13 429 9,375 2024 74 89 0 2,360 2,523
352,477 729,295
2019 2020 2021 2022 2023 2024 total
18,069 64 7,520 9,410 12,141 9,375 352,477

20,597 19,687 15,172 25,817 24,013 2,523 729,295 1,081,773
38,666 19,751 22,691 35,227 36,154 11,898 1,081,773
105,626
106,797
105,522
103,711
107,883
101,989
98,450
65,609
34,100
45,354
40,818
38,666
19,751
22,691
35,227
36,154
11,898
1,080,246
1,081,773
VERSION OFICIAL
mina25.a05
Real Real Real Real
Jan Feb Mar Apr
Operating Days 31 28 31 30
Optimal Cutoff .4%; .35%; .3% 0.30% 0.30% 0.30%
Total Material Mined Ex-Pit (kt) 7,235 6,270 7,747 7,422

Total Material Mined (ex-pit+rehandle) 7,762 7,117 8,166 7,725
avg ktpd ex-pit 233,393 223,945 249,905 247,384

avg ktpd mov.tot. 250,391 254,165 263,427 257,510
Waste (kt) 4,187 3,888 4,983 5,013
Ore Hauled: from mine benches (kt) 1,642 1,362 1,789 1,428
%Cu 0.573% 0.627% 0.684% 0.726%
g/t Au 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000
FEM 0.000 0.000 0.000 0.000
SPI 0.000 0.000 0.000 0.000
RQD 0.000 0.000 0.000 0.000
BWI 0.000 0.000 0.000 0.000
BAI 0.000 0.000 0.000 0.000
Low Grade Hauled (kt) 1,003 848 771 584

%Cu 0.290% 0.280% 0.270% 0.270%
g/t Au 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000
FEM 0.000 0.000 0.000 0.000
from mine to Stock / High Grade (kt) 286 55 91 283
%Cu 0.650% 0.640% 0.750% 0.790%
Rehandle from STOCKPILES (kt) 440 749 228 196

%Cu 0.487% 0.363% 0.394% 0.491%
g/t Au 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000
FEM 0.000 0.000 0.000 0.000
0
from CANDELARIA NORTE (kt) 117 117 114 114
%Cu 2.380% 2.310% 2.045% 2.150%
g/t Au 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000
FEM 0.000 0.000 0.000 0.000
from CANDELARIA SUR (kt) 0 0 0 0

%Cu 0.000% 0.000% 0.000% 0.000%
g/t Au 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000
FEM 0.000 0.000 0.000 0.000
from ALCAPARROSA (kt) 89 99 194 108

%Cu 0.869% 0.950% 1.085% 0.908%
g/t Au 0.340 0.340 0.340 0.340
g/t Ag 2.240 2.240 2.240 2.240
FEM 0.000 0.000 0.000 0.000
INCREMENTO DEL I.O.S - - - -

%Cu 0.00% 0.000% 0.000% 0.000%
g/t Au 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000
FEM
WIP End of Month (Kt) 74,540 74,808 75,540 76,012

%Cu 0.412% 0.411% 0.406% 0.402%
Non-Ore : Ore Ratio 3.4 3.6 3.3 4.2
Total Ore to Crusher (Kt) 2,285 2,325 2,322 1,846

2,293 3,680 1,017 1,968
TPD 73,964 82,185 77,295 65,491
Total Ore to Crusher/ Milled (Kt) 2,293 2,301 2,396 1,965
Mill Grade %Cu 0.641% 0.624% 0.734% 0.758%
Mill Grade g/t Au
Mill Grade g/t Ag
FEM
Cu Recovery Plant from Mine 95.5% 95.5% 95.5% 95.5%
Cu Recovery Plant from Stockpile 90.0% 90.0% 90.0% 90.0%
Cu Recovery from UG 94.0% 94.0% 94.0% 94.0%
Cu Recovery Plant 94.9% 94.4% 94.9% 95.3%
Transportation Loss 0.2% 0.2% 0.2% 0.2%
Cu Concentrate Tons 45,009 44,031 54,271 45,989
Cu Concentrate Grade 30.96% 30.75% 30.70% 30.85%
Tailings - kton 2,248 2,257 2,342 1,919

From Mine 0 0 0 0
From Stockpile 0 0 0 0
From Candelaria Norte 0 0 0 0
From Candelaria Sur 0 0 0 0
From Alcaparrosa 1,564 1,874 4,193 1,962
From I.O.S 0 0 0 0
WIP 560,309 557,227 559,708 557,098
WIP-Cat4-Crushed
Gross Cu Production ('000 lbs) 30,724 29,856 36,740 31,280
Gross Total Au Production (gr) 226,649 232,308 284,154 243,132

Ley de Au en conc (gr/ton) 5.04 5.28 5.24 5.29
Gross Total Ag Production (gr) 3,832,848 3,800,476 4,334,286 3,758,804

Ley de Ag en conc (gr/ton) 85.16 86.31 79.86 81.73
Producción Fierro kton
Payable Cu Production ('000 lbs) 29,648 28,811 35,454 30,185
Recuperación del Fierro 100.0% Au Ag

Factor Conversion Ton a Libras 2,204.6226 Au
Factor Conversion Gramos a Onzas 31.1037 84.5% 85.0% 82.5%
Recuperación de Fundicion/Refinación 96.5% 100.0% 100.0% 96.0%
Cu Concentrate Grade ORE Ex-Pit 31.00% Recup Stock
Cu Concentrate Grade ORE Stockpile 31.00% oxidacion Recup Stock
Ley de Colas 0.04% Recup UG
Precio del Fierro ($/tonne) 2007 2008 2009 2010
5.482 4.905 4.369 2.060

FORECAST JULIO 2007
2007
Real Real Real Real Real Real Real Real
May Jun Jul Aug Sep Oct Nov Dec
31 30 31 31 30 31 30 31
0.30% 0.30% 0.30% 0.40% 0.40% 0.40% 0.30% 0.40%
7,857 8,079 8,111 8,396 8,300 7,888 8,049 9,649

8,094 8,339 8,332 8,826 8,749 8,374 8,140 10,043
253,456 269,286 261,657 270,839 276,678 254,455 268,287 311,259

261,107 277,951 268,760 284,702 291,619 270,114 271,329 323,961
5,017 5,597 5,847 6,097 6,147 5,721 6,134 7,773
1,936 1,680 1,680 1,777 1,640 1,677 1,369 936

0.670% 0.864% 0.727% 0.945% 0.977% 0.977% 1.062% 1.097%
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000
506 371 140 5 12 29 29 92

0.260% 0.280% 0.280% 0.260% 0.280% 0.270% 0.250% 0.280%
0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000
269 293 298 413 356 355 324 654
0.720% 0.890% 0.770% 0.878% 0.885% 0.853% 0.990% 0.775%
95 157 103 360 267 422 483 337

0.499% 0.493% 0.504% 0.505% 0.532% 0.557% 0.629% 0.631%
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
130 137 147 103 145 106 192 193

1.600% 1.630% 1.620% 1.410% 1.137% 1.180% 1.270% 1.180%
0.000 0.000 0.000
0.000 0.000 0.000
0.000 0.000 0.000
0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
147 107 118 70 185 65 119 57

0.898% 0.941% 0.913% 1.028% 1.046% 1.038% 0.989% 0.975%
0.340 0.340 0.170 0.340 0.223 0.301 0.267 0.259
2.240 2.240 0.369 2.180 2.330 2.442 1.928 2.094
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
- - - - - - - -
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000
76,719 77,215 77,527 77,707 77,858 77,869 77,631 77,918

0.402% 0.401% 0.401% 0.402% 0.402% 0.401% 0.401% 0.403%
3.1 3.8 3.8 3.7 4.1 3.7 4.9 9.3
2,303 2,077 2,048 2,310 2,234 2,272 2,098 1,540

2,264 2,174 2,158 1,938 2,092 1,887 1,946 2,090
73,129 72,476 69,608 70,857 78,918 79,188 80,433 51,868
2,267 2,174 2,158 2,197 2,368 2,455 2,413 1,608
0.693% 0.867% 0.759% 0.850% 0.810% 0.883% 0.899% 1.044%
95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5%

90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0%
94.6% 94.9% 96.5% 95.0% 96.3% 93.8% 93.7% 96.6%
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
48,425 58,958 52,489 57,725 59,425 65,566 66,272 53,625
30.70% 30.35% 30.10% 30.74% 31.06% 31.02% 30.68% 30.23%
2,219 2,115 2,106 2,139 2,309 2,388 2,345 1,554
0 0 0
0 0 0
0 0 0
0 0 0 0 0 0 0 0
2,626 2,013 2,154 1,433 3,859 1,342 2,341 1,103
0 0 0 0 0 0 0 0
561,089 564,228 566,119 567,924 568,315 568,841 566,233 570,211
32,784 39,446 34,838 39,115 40,696 44,834 44,827 35,736
267,613 322,037 295,201 303,982 332,923 357,937 357,339 294,120

5.53 5.46 5.62 5.27 5.60 5.46 5.39 5.48
2,728,750 4,654,909 4,520,717 5,041,698 5,003,799 6,090,232 6,775,155 5,355,376

56.35 78.95 86.13 87.34 84.20 92.89 102.23 99.87
31,636 38,065 33,619 37,746 39,272 43,265 43,258 34,486
Ag Au Alcap. Ag Alcap. Factor Ton cortas 2004 1.1023114573

85.0% 72.0% 72.0% Factor Ton cortas 2005 1.10231130
90.0% 94.0% 82.0%
92.0% Alta Ley Perdida por transporte 0.20%
90.0% Baja Ley Perdida Mat en Stock 96.00% dilucion
94.0% Perdida por transporte 0.20%
Perdida Mat en Stock 96.00%
2006
VERSION OFICIAL
with
LOM
Total 2006
365 Operating Days
Optimal Cutoff
95,003 Total Material Mined Ex-Pit (kt)

99,665 Total Material Mined (ex-pit+rehandle)
260.283 avg ktpd ex-pit

273.055 avg ktpd mov.tot.
66,403 Waste (kt)
18,920 Ore Hauled: from mine benches (kt)

0.816% %Cu
0.000 g/t Au
0.000 g/t Ag
0.000 %FEM
0.000 SPI
0.000 RQD
0.000 BWI
0.000 BAI
4,391 Low Grade Hauled (kt)

0.277% %Cu
0.000 g/t Au
0.000 g/t Ag
0.000 %FEM
3,677 from mine to Stock / High Grade (kt)
0.817% %Cu
3,838 Rehandle from STOCKPILES (kt)

0.504% %Cu
0.000 g/t Au
0.000 g/t Ag
0.000 %FEM
1,612 from CANDELARIA NORTE (kt)

1.610% %Cu
0.000 g/t Au
0.000 g/t Ag
0.000 %FEM
0 from CANDELARIA SUR (kt)

0.000 %Cu
0.000 g/t Au
0.000 g/t Ag
%FEM
1,357 from ALCAPARROSA (kt)

0.977% %Cu
0.298 g/t Au
2.062 g/t Ag
0.000 %FEM
INCREMENTO DEL I.O.S

%Cu
g/t Au
g/t Ag
%FEM
77,675 WIP End of Year (Kt)

0.401% %Cu
Non-Ore : Ore Ratio
25,661 Total Ore to Crusher (Kt)
72,860 TPD
26,594 Total Ore to Crusher/ Milled (Kt)
0.791% Mill Grade %Cu
0.000 Mill Grade g/t Au
0.000 Mill Grade g/t Ag
0.000 %FEM
95.50% Cu Recovery Plant from Mine
90.00% Cu Recovery Plant from Stockpile
94.00% Cu Recovery from UG
95.04% Cu Recovery Plant
0.2% Transportation Loss
651,785 Cu Concentrate Tons
31.0% Cu Concentrate Grade
25,942 Tailings - kton - sin CMP

0 From Mine
0 From Stockpile
0 From Candelaria Norte
0 From Candelaria Sur
26,465 From Alcaparrosa
0 From I.O.S
570,211 WIP
WIP-St-Crushed-Thickener
440,876 Gross Cu Production ('000 lbs)
3,517,395 Gross Total Au Production (gr)

5.40 Ley de Au en conc (gr/ton)
55,897,052 Gross Total Ag Production (gr)

85.76 Ley de Ag en conc (gr/ton)
Producción Fierro kton
425,446 Payable Cu Production ('000 lbs)

365
RESUMEN PLANTA DE PROCESOS Jan/06

Utilización SAG 1 % 90.6
Utilización SAG 2 % 90.6
Chancador Primario
Chancador de Pebbles
RESUMEN MOVIMIENTO DE MATERIALES 2006

tpd. mov.tot. fase 6 0
tpd. mov.tot. fase 10
0
num.shovels. fase 6 0
num.shovels. fase 10
num.shovels. Rehandle 0
num.shovels.tot 0
0
CANDELARIA PD-1 2006

Ton Total 0
Cu Head Grade 0.000%
Au Head Grade 0.000
Ag Head Grade 0.000
Cu Recovery Plant 0.000%

Cu Concentrate Tons 0
Cu Concentrate Grade 31.00%
Gross Total Ag Production (gr) 0

Gross Total Au Production (gr) 0
Conc -Ag (Grms/DMT) 0.00

Conc - Au. (grms/DMT) 0.00

Copper (klbs) 0
Silver (oz) 0
Gold (oz) 0
Cu Payable (klbs) -
Silver Payable (ounces)
Gold Payable (ounces)
ALCAPARROSA PD-1 2006

Ton Total 0
Au Head Grade 0.000
Ag Head Grade 0.000
Cu Concentrate Tons -


Copper (klbs) 0
Silver (oz) 0
Gold (oz) 0
Cu Payable (klbs) -
1
1
1
1
0
MINA SANTOS PD-1 2006
Ton Total 0
Au Head Grade 0.000
Ag Head Grade 0.000



Copper (klbs) 0
Silver (oz) 0
Gold (oz) 0
Cu Payable (klbs) -
DISTRITO MINERO 2006

Copper (klbs) 0
Silver (oz) 0
Gold (oz) 0
Cu Payable (klbs) -
EVALUACIÓN ECONÓMICA 2006
COSTOS MINA
Mine Super.
Drilling
Blasting
Loading
Haulage
Support Eq.
Repair Shops
Mine Eng. & Geology
Total Costos Mina (US$/ton) 0.876
Total Costo Mina (kUS$) 0
Costos Stock-Rehandle (US$/ton) 0.5

Total Costo Stock (kUS$) 0
Costos UG (US$/ton)
Candelaria Norte 13.7
Candelaria Sur
Alcaparrosa
Total Costo UG (kUS$) 0
COSTOS CONCENTRADOR
Costo Planta (US$/Ton) 0.31
Recuperación Fundicion-Ref. Cu, %
Recuperación Fundicion-Ref. Au, %
Recuperación Fundicion-Ref. Ag, %
Total Costo Planta (kUS$) 0
COSTOS DOWNSTREAM
Land Freight US$/Lb Cu 0.007
Ocean Frieght US$/Lb Cu 0.061
Sales US$/Lb Cu 0.005
Smelting US$/Lb Cu 0.114
Refining US$/Lb Cu 0.075
Total Costo Downstream US$/lb 0.261
Total Costo Downstream kUS$ 0
PRECIOUS METAL CREDIT

Precious Metals Credit US$/lb -0.106
Total Precious Metals Credit kUS$ 0
GASTOS GENERALES Y VENTAS

General & Admin. US$/ton Mill 0.570
Total Gastos Generales. y Ventas. kUS$ 0
SUSTAINING CAPITAL & OWNER'S COST

Mina US$/ton Material 0.2
Plant US$/Ton de Min. 0.1
Total Sustaining Cost US$ 0
COSTO TOTAL 0
Cost/Saleable Cu Pounds 0.000
INGRESOS
Precio Lb Cu (US$/Lb) 1.15
Precio venta Au, US$/oz 375
Precio venta Ag, US$/oz 4.75
Precio venta Fe, US$/tonne
Ingreso Cu, KUS$ 0
Ingreso Au, KUS$
Ingreso Ag, KUS$
Ingreso Fe, KUS$
Total Ingreso de Mx 0
UTILIDADES 0
CAPITAL
NET CASH FLOW (US$) 0
NPV
Tasa
Michael Curran 2006

Mine Production 0
#DIV/0!
#DIV/0!
#DIV/0!
Ore Reserves (end of year values)
Proven and Probable 354,492
Contained Copper 127,781,668,153,540
Salable Copper 1,905,420
Mill Ore Reserves - Long Term Stock (WIP Category 5)
Proven and Probable 73,600
Contained Copper #REF!
Salable Copper 252,945
Waste Stripping Requirement for Reserves 726,220
Mill Production
Copper Milling Recovery (direct ship) 0.000%
Copper Con Grade (overall) 0.00%
Copper Con Grade (overall) 0.00
Copper Con Grade (overall) 0.00
Work In Process Inventories #REF!
Category 4 - Short Term Mill Ore #REF!
Category 5 - LT Mill Ore Stockpiles (Tm de Cobre) #REF!
Version Ok #REF!
2,002
256,642
687,392
258,643
soln stock ley
base
efecto coemin
efecto recuperacion stock
Ley % Cu
Material Duro
Material Blando
Material Intermedio
Material Ultra Blando
Total
Material Duro
Material Blando
Material Intermedio
Total
Material Duro
Material Blando
Material Intermedio
Total
Material Duro
Material Blando
Material Intermedio
Total
2007 2008 2009 2010 2011 2012 2013
LOM LOM LOM LOM LOM LOM

2008 2009 2010 2011 2012 2013
366 365 365 365 366 365
0.33% 0.35% 0.35% 0.30% 0.30% 0.40%
106,326 107,794 111,080 108,129 104,267 102,226

107,810 109,421 115,787 111,362 107,889 104,852
290,509 295,325 304,330 296,245 284,881 280,070

294,563 299,782 317,226 305,100 294,779 287,265
74,363 74,957 81,418 79,505 77,407 76,183
18,579 19,591 18,514 20,241 21,973 24,516

0.741% 0.530% 0.660% 0.590% 0.680% 0.860%
0.126 0.120 0.152 0.140 0.160 0.200
2.196 2.000 2.273 1.520 2.180 3.970
10.167 6.600 11.291 4.780 3.610 11.170
106 117 145 141 136 150
0.518 0.720 0.800 0.860 0.870 0.880
0.000 0.000 0.000 0.000 0.000 0.000
0.171 0.190 0.204 0.210 0.210 0.200
11,189 0%
5,216 11,181 9,392 7,355 4,886 1,526
0.271% 0.290% 0.283% 0.260% 0.260% 0.320%
0.089 0.070 0.084 0.060 0.070 0.080
1.669 1.260 1.230 0.970 1.160 1.740
7.692 4.950 9.236 3.680 2.880 5.380
5,973 0 0 0 0 0
0.560% 0.00% 0.00% 0.00% 0.00% 0.00%
1,484 1,627 4,707 3,232 3,623 2,626

0.542% 0.475% 0.570% 0.431% 0.360% 0.355%
0.031 0.124 0.163 0.117 0.096 0.096
0.556 2.358 3.235 2.184 1.708 1.708
6.338 6.338 6.338 6.338 6.338 6.338
2,195 2,064 1,756 1,028 0 0

1.281% 1.420% 1.434% 1.450% 0.000% 0.000%
0.322 0.351 0.328 0.334 0.000 0.000
7.619 7.067 7.639 6.873 0.000 0.000
8.556 11.627 14.381 10.875 0.000 0.000
0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000
- - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000
87,380 96,934 101,619 105,742 107,005 105,905

0.402% 0.388% 0.369% 0.360% 0.355% 0.355%
4.7 4.5 5.0 4.3 3.7 3.2
22,258 23,283 24,978 24,502 25,595 27,143

22,258 23,283 24,978 24,502 25,595 27,143
60,814 63,788 68,432 67,128 69,933 74,363
22,258 23,283 24,978 24,502 25,595 27,143
0.781% 0.605% 0.698% 0.605% 0.635% 0.811%
0.139 0.141 0.166 0.145 0.151 0.190
2.621 2.474 2.832 1.832 2.113 3.751
9.752 7.027 10.575 5.241 3.996 10.702
95.5% 95.5% 95.5% 95.5% 95.5% 95.5%
86.4% 86.4% 86.4% 86.4% 86.4% 86.4%
94.0% 94.0% 94.0% 94.0% 94.0% 94.0%
94.8% 94.7% 93.9% 94.5% 94.8% 95.1%
0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
530,583 429,449 526,717 451,039 495,648 674,191
31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
21,726 22,858 24,447 24,054 25,104 26,467
279,067 210,541 247,849 242,146 302,964 427,516

14,741 14,169 49,258 25,552 23,923 17,122
56,118 58,518 50,269 29,768 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
643,906 689,218 688,757 698,286 697,669 689,504
362,618 293,500 359,976 308,255 338,742 460,765
2,547,142 2,698,166 3,423,452 2,926,534 3,180,953 4,244,701

4.80 6.28 6.50 6.49 6.42 6.30
49,496,276 48,867,544 60,004,238 38,081,792 45,883,054 86,370,376

93.29 113.79 113.92 84.43 92.57 128.11
2,119 1,606 2,585 1,261 1,003 2,833
349,926 283,227 347,377 297,466 326,886 444,638

365 366 365 365 365 366 365
384,979 318,326 354,176
2007 2008 2009 2010 2011 2012 2013
93.9 96.4 95.5 95.9 96.1 95.5
93.6 94.3 95.9 96.0 95.1 95.5
2007 2008 2009 2010 2011 2012 2013

12,253 0 0 0 0 0
135,481 116,417 50,914 0 0 0
150,685 173,253 226,551 153,776 127,488 74,387
0 0 22,053 139,652 157,393 205,683
0 0 0 0 0 0
298,419 289,670 299,518 293,427 284,881 280,070
0 0 0 0 0 0
3 3 2 0 0 0
3 4 4 3 3 2
0 0 0 3 3 4
0 0 0 0 0 0
1 1 1 1 1 1
7 7 7 7 7 7
0 1 1 1 1 1 1
2007 2008 2009 2010 2011 2012 2013

22,258 23,283 24,978 24,502 25,595 27,143
0.781% 0.605% 0.698% 0.605% 0.635% 0.811%
0.139 0.141 0.166 0.145 0.151 0.190
2.621 2.474 2.832 1.832 2.113 3.751
94.837% 94.689% 93.881% 94.494% 94.770% 95.114%

530,583 429,449 526,717 451,039 495,648 674,191
31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
49,496,276 48,867,544 60,004,238 38,081,792 45,883,054 86,370,376

2,547,142 2,698,166 3,423,452 2,926,534 3,180,953 4,244,701
93.29 113.79 113.92 84.43 92.57 128.11

4.80 6.28 6.50 6.49 6.42 6.30
362,618 293,500 359,976 308,255 338,742 460,765

1,591,333 1,571,119 1,929,170 1,224,351 1,475,166 2,776,856
81,892 86,748 110,066 94,090 102,269 136,470
349,926 283,227 347,377 297,466 326,886 444,638

1,432,200 1,414,007 1,736,253 1,101,916 1,327,649 2,499,170
78,616 83,278 105,663 90,326 98,179 131,011
2007 2008 2009 2010 2011 2012 2013

0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.00% 94.00% 94.00% 94.00% 94.00% 94.00% 94.00%
- - - - - - -
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
- - - - - - -
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
0 1 1 1 1 1 1
2007 2008 2009 2010 2011 2012 2013
0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
- - - - - - -
2007 2008 2009 2010 2011 2012 2013

- 530,583 429,449 526,717 451,039 495,648 674,191
0 362,618 293,500 359,976 308,255 338,742 460,765
0 1,591,333 1,571,119 1,929,170 1,224,351 1,475,166 2,776,856
0 81,892 86,748 110,066 94,090 102,269 136,470
- 349,926 283,227 347,377 297,466 326,886 444,638
2007 2008 2009 2010 2011 2012 2013
0.935 0.771 0.771 0.771 0.771 0.771 0.771

0 75,680 81,517 84,289 82,575 80,390 78,816
0.5 0.48 0.48 0.48 0.48 0.48 0.48

0 712 781 2,259 1,552 1,739 1,261
13.7 13.7 13.7 13.7
0 30,071 28,279 24,063 0 0 0
3.398 4.094 4.094 4.094 4.094 4.094 4.094

0 91,125 95,319 102,259 100,309 104,788 111,122
0.071 0.087 0.087 0.087 0.087 0.087 0.087
0.005 0.004 0.004 0.004 0.004 0.004 0.004

0.129 0.149 0.149 0.149 0.149 0.149 0.149
0.100 0.098 0.098 0.098 0.098 0.098 0.098
0.305 0.338 0.338 0.338 0.338 0.338 0.338
0 118,275 95,731 117,413 100,543 110,488 150,288
-0.148 -0.169 -0.169 -0.169 -0.169 -0.169 -0.169

0 -59,138 -47,865 -58,707 -50,272 -55,244 -75,144
0.604 0.729 0.729 0.729 0.729 0.729 0.729

0 16,226 16,973 18,209 17,862 18,659 19,787
0.226 0.199 0.199 0.199 0.199 0.199 0.199

0.07 0.223 0.223 0.223 0.223 0.223 0.223
0 26,122 26,643 27,675 26,982 26,457 26,396
0 299,074 297,377 317,461 279,551 287,276 312,525

0.000 0.855 1.050 0.914 0.940 0.879 0.703
2.5 1.2 1.5 1.05 1.05 1.05 1.05

444 450 444 444 444 444 444
5.7 8 5.7 5.7 5.7 5.7 5.7
5.482 1.2 1.2 1.2 1.2 1.2 1.2
0 419,911 424,841 364,746 312,339 343,231 466,870
0 35,377 36,975 46,914 40,105 43,591 58,169
0 11,458 8,060 9,897 6,281 7,568 14,245
0 2,543 1,928 3,102 1,513 1,204 3,399
0 469,289 471,803 424,659 360,238 395,594 542,683
0 170,215 174,426 107,198 80,687 108,318 230,158
0 170,215 174,426 107,198 80,687 108,318 230,158
$ 691,708
12%
2007 2008 2009 2010 2011 2012 2013

0 20,774 21,656 20,271 21,269 21,973 24,516
0.000% 0.798% 0.615% 0.727% 0.632% 0.680% 0.860%
0.000 0.147 0.142 0.167 0.149 0.160 0.200
0.000 2.769 2.483 2.738 1.779 2.180 3.970
360,465 0.589% Ley Rajo+B.Ley+C.Norte

2,123,288 86.40% Recuperacion Baja Ley
1,933,150 1,909,757
solo Cat 5
77,675 0.401% 72,474 0.397%
311,477 82.95% 287,722
256,642 257,155 237,111
726,220
0.000% 95.246% 95.170% 95.244% 95.333% 95.500% 95.500%

0.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
0.00 4.80 6.28 6.50 6.49 6.42 6.30
0.00 93.29 113.79 113.92 84.43 92.57 128.11
- 641,922 687,094 686,634 696,134 695,519 687,379
- 2,002 2,002 2,002 2,002 2,002 2,002
- 289,169 309,659 309,450 313,759 313,480 309,788
- 291,171 311,661 311,452 315,761 315,482 311,790
Tm de Cat 4
Tm de Cat 5
Tm de Wip
11189 11181 9392 7355 4886 1526

2008 2009 2010 2011 2012 2013
351,152 293,774 358,628 326,077 366,372
4,125 3,989
582 666 2,152
4,708 4,655 2,152
351152 287117 349543

347,027 291,106
346444.46 287783 351695.075
2961
0.425% 0.290% 0.283% 0.260% 0.260% 0.320%
Ma
2008 2009 2010 2011 2012 2013

3,635,103 859,894 2,638,814 2,562,787 247,548 35,055
8,237,865 15,111,605 5,925,591 15,253,725 20,117,188 11,453,851
2,593,251 507,454 1,615,864 2,320,622 1,939,912 706,930
20,588,736 33,335,641 20,185,303 30,611,231 39,902,578 35,228,346
18,579,225 19,591,384 18,514,390 20,240,915 21,972,850 24,516,480
Mat
2008 2009 2010 2011 2012 2013

19.57 4.39 14.25 12.66 1.13 0.14
44.34 77.13 32.01 75.36 91.55 46.72
13.96 2.59 8.73 11.47 8.83 2.88
110.82 170.15 109.02 151.23 181.60 143.69
188.68 254.27 164.01 250.72 283.11 193.44
2008 2009 2010 2011 2012 2013

3,635,103 859,894 2,638,814 2,562,787 247,548 35,055
8,237,932 15,111,658 5,925,654 15,253,770 20,117,241 11,453,911

2,593,260 507,461 1,615,872 2,320,628 1,939,919 706,938
7,791,773 6,803,498 14,797,483 4,364,359 3,290,758 14,946,696
22,258,068 23,282,510 24,977,823 24,501,544 25,595,465 27,142,600
2008 2009 2010 2011 2012 2013

16.33 3.69 10.56 10.46 0.97 0.13
37.01 64.91 23.72 62.26 78.60 42.20
11.65 2.18 6.47 9.47 7.58 2.60
35.01 29.22 59.24 17.81 12.86 55.07
100.00 100.00 100.00 100.00 100.00 100.00
2014 2015 2016 2017 2018 2019 2020
LIFE OF MINE (Topografía Real 31 Diciembre 2007)

LOM LOM LOM LOM LOM LOM LOM
2014 2015 2016 2017 2018 2019 2020
365 365 366 365 365 365 366
0.30% 0.30% 0.30% 0.27% 0.30% 0.30% 0.23%
99,820 62,385 34,100 45,354 40,818 38,666 19,751

107,319 66,223 36,186 48,948 42,285 47,445 46,020
273,480 170,917 93,169 124,257 111,830 105,935 53,964

294,023 181,432 98,868 134,105 115,850 129,987 125,737
78,551 37,994 7,822 18,105 12,106 20,597 19,687
18,224 19,314 22,064 23,302 23,776 16,771 64

0.632% 0.660% 0.600% 0.469% 0.565% 0.684% 0.286%
0.128 0.170 0.145 0.101 0.126 0.150 0.020
2.038 2.840 2.536 1.823 1.934 2.138 0.504
15.496 7.040 7.241 5.435 7.929 17.730 0.907
139 137 127 117 146 150 150
0.801 0.580 0.620 0.683 0.818 0.928 0.592
0.000 0.000 14.215 13.475 13.000 13.000 15.799
0.199 0.200 0.197 0.199 0.200 0.200 0.200
3,045 5,077 4,214 3,947 4,936 1,298 0

0.260% 0.260% 0.262% 0.249% 0.263% 0.266% 0.000%
0.087 0.100 0.080 0.065 0.071 0.079 0.000
1.426 1.860 1.528 1.162 1.396 1.554 0.000
10.986 7.240 5.400 4.992 5.928 15.338 0.000
0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
7,498 3,838 2,086 3,595 1,467 8,779 26,269

0.355% 0.352% 0.348% 0.344% 0.340% 0.337% 0.336%
0.096 0.096 0.096 0.096 0.096 0.096 0.096
1.708 1.708 1.708 1.708 1.708 1.708 1.708
6.338 6.338 6.338 6.338 6.338 6.338 6.338
0
0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
- - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
101,452 102,691 104,819 105,171 108,640 101,159 74,890

0.352% 0.348% 0.344% 0.340% 0.337% 0.336% 0.336%
4.5 2.2 0.5 0.9 0.7 1.3 306.4
25,722 23,152 24,150 26,896 25,243 25,550 26,333

25,722 23,152 24,150 26,896 25,243 25,550 26,333
70,471 63,430 65,983 73,689 69,160 70,000 71,949
25,722 23,152 24,150 26,896 25,243 25,550 26,333
0.551% 0.609% 0.579% 0.452% 0.552% 0.565% 0.336%
0.118 0.158 0.141 0.100 0.124 0.132 0.096
1.942 2.652 2.465 1.807 1.920 1.990 1.705
12.826 6.924 7.163 5.556 7.837 13.815 6.324
95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5%
86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4%
94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0%
93.8% 94.6% 95.0% 94.6% 95.2% 93.6% 86.4%
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
428,158 429,498 427,466 370,443 426,740 434,874 246,108
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
25,297 22,727 23,730 26,538 24,826 25,117 26,082
233,557 258,473 268,623 221,623 272,276 232,537 373

48,819 24,786 13,297 22,689 9,164 54,268 161,939
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
655,210 654,639 661,590 656,902 671,546 623,607 461,668
292,617 293,533 292,145 253,173 291,648 297,207 168,198
2,508,364 3,006,745 2,803,538 2,216,386 2,585,984 2,767,029 2,077,408

5.86 7.00 6.56 5.98 6.06 6.36 8.44
42,373,939 52,091,816 50,488,414 41,240,002 41,125,013 43,138,765 38,088,641

98.97 121.29 118.11 111.33 96.37 99.20 154.76
3,245 1,573 1,700 1,474 1,946 3,470 1,650
282,376 283,259 281,919 244,312 281,440 286,805 162,311

365 365 366 365 365 365 106.1179148
2014 2015 2016 2017 2018 2019 2020

95.5 95.5 95.5 95.5 95.5 95.5 95.5
95.5 95.5 95.5 95.5 95.5 95.5 95.5
2014 2015 2016 2017 2018 2019 2020

0 0 0 0 0 0 0
0 0 0 0 0 0 0
46,480 0 0 0 0 0 0
227,000 170,917 93,169 124,257 111,830 61,556 0
0 0 0 0 0 44,378 53,964
273,480 170,917 93,169 124,257 111,830 105,935 53,964
0 0 0 0 0 0 0
0 0 0 0 0 0 0
1 0 0 0 0 0 0
5 4 3 3 3 2 0
0 0 0 0 0 1 1
1 1 1 1 1 2 2
7 5 4 4 4 5 3
1 0 0 0 0 0 0
2014 2015 2016 2017 2018 2019 2020

25,722 23,152 24,150 26,896 25,243 25,550 26,333
0.551% 0.609% 0.579% 0.452% 0.552% 0.565% 0.336%
0.118 0.158 0.141 0.100 0.124 0.132 0.096
1.942 2.652 2.465 1.807 1.920 1.990 1.705
93.792% 94.628% 95.028% 94.575% 95.174% 93.634% 86.419%

428,158 429,498 427,466 370,443 426,740 434,874 246,108
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
42,373,939 52,091,816 50,488,414 41,240,002 41,125,013 43,138,765 38,088,641

2,508,364 3,006,745 2,803,538 2,216,386 2,585,984 2,767,029 2,077,408
98.97 121.29 118.11 111.33 96.37 99.20 154.76

5.86 7.00 6.56 5.98 6.06 6.36 8.44
292,617 293,533 292,145 253,173 291,648 297,207 168,198

1,362,346 1,674,781 1,623,231 1,325,889 1,322,192 1,386,935 1,224,571
80,645 96,669 90,135 71,258 83,141 88,962 66,790
282,376 283,259 281,919 244,312 281,440 286,805 162,311

1,226,111 1,507,303 1,460,908 1,193,300 1,189,973 1,248,242 1,102,114
77,419 92,802 86,530 68,408 79,815 85,403 64,118
2014 2015 2016 2017 2018 2019 2020

0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
94.00% 94.00% 94.00% 94.00% 94.00% 94.00% 94.00%
- - - - - - -
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
- - - - - - -
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
2014 2015 2016 2017 2018 2019 2020
0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
- - - - - - -
2014 2015 2016 2017 2018 2019 2020

428,158 429,498 427,466 370,443 426,740 434,874 246,108
292,617 293,533 292,145 253,173 291,648 297,207 168,198
1,362,346 1,674,781 1,623,231 1,325,889 1,322,192 1,386,935 1,224,571
80,645 96,669 90,135 71,258 83,141 88,962 66,790
282,376 283,259 281,919 244,312 281,440 286,805 162,311
2014 2015 2016 2017 2018 2019 2020
0.771 0.771 0.771 0.771 0.771 0.771 0.771

76,961 48,099 26,291 34,968 31,471 29,812 15,228
0.48 0.48 0.48 0.48 0.48 0.48 0.48

3,599 1,842 1,001 1,725 704 4,214 12,609
0 0 0 0 0 0 0
4.094 4.094 4.094 4.094 4.094 4.094 4.094

105,306 94,784 98,869 110,114 103,346 104,602 107,809
0.087 0.087 0.087 0.087 0.087 0.087 0.087
0.004 0.004 0.004 0.004 0.004 0.004 0.004

0.149 0.149 0.149 0.149 0.149 0.149 0.149
0.098 0.098 0.098 0.098 0.098 0.098 0.098
0.338 0.338 0.338 0.338 0.338 0.338 0.338
95,443 95,742 95,289 82,577 95,127 96,940 54,861
-0.169 -0.169 -0.169 -0.169 -0.169 -0.169 -0.169

-47,721 -47,871 -47,644 -41,289 -47,563 -48,470 -27,431
0.729 0.729 0.729 0.729 0.729 0.729 0.729

18,751 16,878 17,605 19,607 18,402 18,626 19,197
0.199 0.199 0.199 0.199 0.199 0.199 0.199

0.223 0.223 0.223 0.223 0.223 0.223 0.223
25,600 17,577 12,171 15,023 13,752 13,392 9,803
277,939 227,051 203,582 222,727 215,239 219,116 192,076

0.984 0.802 0.722 0.912 0.765 0.764 1.183
1.05 1.05 1.05 1.05 1.05 1.05 1.05

444 444 444 444 444 444 444
5.7 5.7 5.7 5.7 5.7 5.7 5.7
1.2 1.2 1.2 1.2 1.2 1.2 1.2
296,494 297,422 296,015 256,527 295,512 301,145 170,427
34,374 41,204 38,419 30,373 35,438 37,919 28,468
6,989 8,592 8,327 6,802 6,783 7,115 6,282
3,894 1,888 2,040 1,769 2,335 4,164 1,979
341,751 349,106 344,802 295,471 340,068 350,343 207,157
63,812 122,055 141,220 72,745 124,829 131,228 15,081
63,812 122,055 141,220 72,745 124,829 131,228 15,081
2014 2015 2016 2017 2018 2019 2020

18,224 19,314 22,064 23,302 23,776 16,771 64
0.632% 0.660% 0.600% 0.469% 0.565% 0.684% 0.286%
0.128 0.170 0.145 0.101 0.126 0.150 0.020
2.038 2.840 2.536 1.823 1.934 2.138 0.504
95.500% 95.500% 95.500% 95.500% 95.500% 95.500% 95.500%

31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
5.86 7.00 6.56 5.98 6.06 6.36 8.44
98.97 121.29 118.11 111.33 96.37 99.20 154.76
653,191 652,621 659,551 654,878 669,476 621,685 460,245
2,002 2,002 2,002 2,002 2,002 2,002 2,002
294,281 294,022 297,165 295,046 301,668 279,990 206,762
296,282 296,024 299,167 297,048 303,669 281,991 208,764
3045 5077 4214 3947 4936 1298 0
2014 2015 2016 2017 2018 2019 2020
0.260% 0.260% 0.262% 0.249% 0.263% 0.266%
Material Proveniente De La Mina
2014 2015 2016 2017 2018 2019 2020

1,850,771 9,888,724 5,938,335 48,904 160,668 274,760 35,651
1,896,784 6,752,096 12,707,723 19,888,876 17,068,387 2,034,516 0
422,992 2,303,703 2,144,873 193,029 456,599 0 28,609
17,846,578 13,873,812 26,688,359 42,948,663 40,227,186 18,530,487 0
18,223,557 19,314,143 22,063,844 23,301,720 23,776,066 16,770,731 64,260
Material Proveniente De La Mina %
2014 2015 2016 2017 2018 2019 2020

10.16 51.20 26.91 0.21 0.68 1.64 55.48
10.41 34.96 57.60 85.35 71.79 12.13 0.00
2.32 11.93 9.72 0.83 1.92 0.00 44.52
97.93 71.83 120.96 184.32 169.19 110.49 0.00
120.82 169.92 215.19 270.71 243.58 124.26 100.00
Material A Planta
2014 2015 2016 2017 2018 2019 2020

1,850,771 9,888,724 5,938,335 48,904 160,668 274,760 35,651
1,896,849 6,752,171 12,707,783 19,888,925 17,068,440 2,034,575 0

423,001 2,303,713 2,144,881 193,036 456,606 8 28,609
21,551,361 4,207,438 3,358,682 6,765,531 7,557,577 23,240,657 26,269,074
25,721,982 23,152,046 24,149,681 26,896,396 25,243,291 25,550,000 26,333,334
Material A Planta %
2014 2015 2016 2017 2018 2019 2020

7.20 42.71 24.59 0.18 0.64 1.08 0.14
7.37 29.16 52.62 73.95 67.62 7.96 0.00
1.64 9.95 8.88 0.72 1.81 0.00 0.11
83.79 18.17 13.91 25.15 29.94 90.96 99.76
100.00 100.00 100.00 100.00 100.00 100.00 100.00
2021 2022 2023 2024 2025 2026 2027 2028 2029
LOM LOM LOM LOM LOM LOM LOM LOM LOM

2021 2022 2023 2024 2025 2026 2027 2028 2029
365 365 365 366 90 0 0 0 0
0.23% 0.23% 0.23% 0.23% 0.23%
22,691 35,227 36,154 11,898 0 0 0 0 0

41,418 52,180 50,432 30,365 6,465 0 0 0 0
62,168 96,512 99,051 32,509 0 0 0 0 0

113,473 142,958 138,170 82,965 71,983 0 0 0 0
15,172 25,817 24,013 2,523 0 0 0 0 0
7,520 9,410 12,141 9,375 0 0 0 0 0

0.539% 0.514% 0.772% 0.688% 0.000% 0.000% 0.000% 0.000% 0.000%
0.128 0.110 0.173 0.159 0.000 0.000 0.000 0.000 0.000
1.572 1.527 2.252 1.534 0.000 0.000 0.000 0.000 0.000
8.127 10.836 15.615 22.977 0.000 0.000 0.000 0.000 0.000
147 138 138 150 0.000 0.000 0.000 0.000 0.000
0.788 0.772 0.605 0.817 0.000 0.000 0.000 0.000 0.000
12.959 13.560 13.357 13.000 0.000 0.000 0.000 0.000 0.000
0.243 0.276 0.205 0.200 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
18,726 16,953 14,278 18,467 6,465 0 0 0 0

0.336% 0.336% 0.336% 0.336% 0.336% 0.000% 0.000% 0.000% 0.000%
0.000 0.076 0.076 0.076 0.076 0.000 0.000 0.000 0.000
0.000 1.351 1.351 1.351 1.351 0.000 0.000 0.000 0.000
6.338 6.338 6.338 6.338 6.338 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0 0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
56,164 39,211 24,932 6,465 0.000 0 0 0 0

0.33605% 0.336% 0.336% 0.336% 0.000% 0.000% 0.000% 0.000% 0.000%
2.0 2.7 2.0 0.3 0.0 0.0 0.0 0.0 0.0
26,246 26,362 26,419 27,842 6,465 0 0 0 0

26,246 26,362 26,419 27,842 6,465 0 0 0 0
71,907 72,226 72,381 76,071 71,983 0 0 0 0
26,246 26,362 26,419 27,842 6,465 0 0 0 0
0.394% 0.399% 0.536% 0.455% 0.336% 0.000% 0.000% 0.000% 0.000%
0.037 0.088 0.121 0.104 0.076 0.000 0.000 0.000 0.000
0.450 1.414 1.765 1.413 1.351 0.000 0.000 0.000 0.000
6.850 7.943 10.601 11.940 6.338 0.000 0.000 0.000 0.000
95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5%
86.4% 86.4% 80.9% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4%
94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0%
90.0% 90.6% 90.6% 91.0% 86.4% 0.0% 0.0% 0.0% 0.0%
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
299,539 307,067 413,229 370,938 60,432 0 0 0 0
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
25,946 26,056 25,995 27,469 6,403 0 0 0 0
82,108 98,007 190,099 130,796 0.0000 0 0 0 0

115,441 104,507 82,431 113,843 39,856 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
346,227 241,719 143,937 39,856 0 0 0 0 0
4,413.286
204,715 209,860 282,414 253,511 41,301 0 0 0 0
792,661 1,915,293 2,629,862 2,389,285 406,773 0 0 0 0

2.65 6.24 6.36 6.44 6.73 0.00 0.00 0.00 0.00
10,029,649 31,620,088 39,561,537 33,369,659 7,411,221 0 0 0 0

33.48 102.97 95.74 89.96 122.64 0.00 0.00 0.00 0.00
1,777 2,070 2,756 3,280 406 0 0 0 0
197,550 202,515 272,530 244,638 44,269 0 0 0 0

365 365 365 366 365 365 365 366 365
2021 2022 2023 2024 2025 2026 2027 2028 2029

95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5
95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5
2021 2022 2023 2024 2025 2026 2027 2028 2029

0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
62,168 96,512 99,051 32,509 0 0 0 0 0
62,168 96,512 99,051 32,509 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
1 2 2 1 0 0 0 0 0
2 2 2 2 1 0 0 0 0
3 4 4 3 1 0 0 0 0
0 0 0 0 0 0 0 0 0
2021 2022 2023 2024 2025 2026 2027 2028 2029

26,246 26,362 26,419 27,842 6,465 0 0 0 0
0.394% 0.399% 0.536% 0.455% 0.336% 0.000% 0.000% 0.000% 0.000%
0.037 0.088 0.121 0.104 0.076 0.000 0.000 0.000 0.000
0.450 1.414 1.765 1.413 1.351 0.000 0.000 0.000 0.000
89.963% 90.577% 90.562% 91.038% 86.400% 0.000% 0.000% 0.000% 0.000%

299,539 307,067 413,229 370,938 60,432 0 0 0 0
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
10,029,649 31,620,088 39,561,537 33,369,659 7,411,221 0 0 0 0

792,661 1,915,293 2,629,862 2,389,285 406,773 0 0 0 0
33.48 102.97 95.74 89.96 122.64 0.00 0.00 0.00 0.00

2.65 6.24 6.36 6.44 6.73 0.00 0.00 0.00 0.00
204,715 209,860 282,414 253,511 41,301 0 0 0 0

322,459 1,016,604 1,271,926 1,072,853 238,275 0 0 0 0
25,484 61,578 84,552 76,817 13,078 0 0 0 0
197,550 202,515 272,530 244,638 44,269 - - - -

290,213 914,943 1,144,733 965,568 214,447 0 0 0 0
24,465 59,115 81,169 73,744 12,555 0 0 0 0
2021 2022 2023 2024 2025 2026 2027 2028 2029

0 0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
94.00% 94.00% 94.00% 94.00% 94.00% 94.00% 94.00% 94.00% 94.00%
- - - - - - - - -
31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
- - - - - - - - -
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1
0 1 1 1 1 1 1 1 1
0 1 1 1 1 1 1 1 1
1 1 1 1 1 0 0 0 0
2021 2022 2023 2024 2025 2026 2027 2028 2029
0 0 0 0 0 0 0 0 0
0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
- - - - - - - - -
2021 2022 2023 2024 2025 2026 2027 2028 2029

299,539 307,067 413,229 370,938 60,432 - - - -
204,715 209,860 282,414 253,511 41,301 0 0 0 0
322,459 1,016,604 1,271,926 1,072,853 238,275 0 0 0 0
25,484 61,578 84,552 76,817 13,078 0 0 0 0
197,550 202,515 272,530 244,638 44,269 - - - -
2021 2022 2023 2024 2025 2026 2027 2028 2029
0.771 0.771 0.771 0.771 0.771 0.771 0.771 0.771 0.771

17,495 27,160 27,874 9,173 0 0 0 0 0
0.48 0.48 0.48 0.48 0.48 0.48 0.48 0.48 0.48

8,989 8,137 6,854 8,864 3,103 0 0 0 0
0 0 0 0 0 0 0 0 0
4.094 4.094 4.094 4.094 4.094 4.094 4.094 4.094 4.094

107,451 107,928 108,160 113,985 26,469 0 0 0 0
0.087 0.087 0.087 0.087 0.087 0.087 0.087 0.087 0.087
0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004

0.149 0.149 0.149 0.149 0.149 0.149 0.149 0.149 0.149
0.098 0.098 0.098 0.098 0.098 0.098 0.098 0.098 0.098
0.338 0.338 0.338 0.338 0.338 0.338 0.338 0.338 0.338
66,772 68,450 92,115 82,688 14,963 0 0 0 0
-0.169 -0.169 -0.169 -0.169 -0.169 -0.169 -0.169 -0.169 -0.169

-33,386 -34,225 -46,058 -41,344 -7,481 0 0 0 0
0.729 0.729 0.729 0.729 0.729 0.729 0.729 0.729 0.729

19,133 19,218 19,259 20,297 4,713 0 0 0 0
0.199 0.199 0.199 0.199 0.199 0.199 0.199 0.199 0.199

0.223 0.223 0.223 0.223 0.223 0.223 0.223 0.223 0.223
10,368 12,889 13,086 8,576 1,442 0 0 0 0
196,823 209,558 221,291 202,240 43,208 0 0 0 0

0.996 1.035 0.812 0.827 0.976 0.000 0.000 0.000 0.000
1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

444 444 444 444 444 444 444 444 444
5.7 5.7 5.7 5.7 5.7 5.7 5.7 5.7 5.7
1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2
207,427 212,640 286,156 256,870 46,482 0 0 0 0
10,863 26,247 36,039 32,742 5,574 0 0 0 0
1,654 5,215 6,525 5,504 1,222 0 0 0 0
2,133 2,484 3,307 3,936 487 0 0 0 0
222,077 246,586 332,027 299,052 53,766 0 0 0 0
25,254 37,029 110,737 96,812 10,558 0 0 0 0
25,254 37,029 110,737 96,812 10,558 0 0 0 0
2021 2022 2023 2024 2025 2026 2027 2028 2029

7,520 9,410 12,141 9,375 0 0 0 0
0.539% 0.514% 0.772% 0.688% 0.000% 0.000% 0.000% 0.000% 0.000%
0.128 0.110 0.173 0.159 0.000 0.000 0.000 0.000 0.000
1.572 1.527 2.252 1.534 0.000 0.000 0.000 0.000 0.000
95.500% 95.500% 95.500% 95.500% 0.000% 0.000% 0.000% 0.000% 0.000%

31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
2.65 6.24 6.36 6.44 6.73 0.00 0.00 0.00 0.00
33.48 102.97 95.74 89.96 122.64 0.00 0.00 0.00 0.00
345,160 240,974 153,225 39,733 - - - - -
2,002 2,002 2,002 2,002 - - - - -
154,560 107,302 67,500 16,021 - - - - -
0 0 0 0 0
2021 2022 2023 2024 2025
2021 2022 2023 2024

650,857 1,332,170 2,918,432 428,829
4,556,599 4,188,663 3,281,375 42,143
634,729 653,890 436,666 12,840
10,790,659 11,612,310 12,066,896 8,975,352
7,519,646 9,409,707 12,140,619 9,374,878
2021 2022 2023 2024

8.66 14.16 24.04 4.57
60.60 44.51 27.03 0.45
8.44 6.95 3.60 0.14
143.50 123.41 99.39 95.74
221.19 189.03 154.06 100.90
2021 2022 2023 2024 2025

650,857 1,332,170 2,918,432 428,829 428829
4,556,599 4,188,663 3,281,375 42,143 3816638
634,729 653,890 436,666 12,840 508885
20,403,870 20,187,767 19,782,592 27,358,174 763328
26,246,055 26,362,490 26,419,065 27,841,986 5517680
2021 2022 2023 2024 2025

2.48 5.05 11.05 1.54 7.77
17.36 15.89 12.42 0.15 69.17
2.42 2.48 1.65 0.05 9.22
77.74 76.58 74.88 98.26 13.83
100.00 100.00 100.00 100.00 100.00
Total
6,300
1,086,685
1,232,406
172.495
195.626
726,220
285,374
0.639177527%
0.144
2.237
9.587
135.434
0.754
5.834
0.203
62,073
0.27%
0.077
1.345
6.338
5,973
0.560%
145,721
0.352%
0.078
1.406
6.338
7,044 194,673
1.385%
0.333
7.353
11.247
oro
N/D ###
N/D ###
N/D
N/D
0
0.000%
0.000
0.000
438,140
69,548
438,140
0.556%
0.125 ###
2.043
8.533
95.50%
86.08%
94.00%
93.41%
0.2%
7,322,118
31.0%
430,841
3,698,554 ###
935,803.759 ### ###
194,673 852417
0
0
0
4,413
5,004,177
45,120,276 ### 1,393

6.16 5.916 0.002
759,242,024 ### 21,969

103.69 93 0.0300
36,753
4,833,444
Total
438,140
0.556%
0.125 0.004021
2.043 0.065676
93.414%
7,322,118
31.00%
759,242,024
45,120,276
103.69
6.16
5,004,177
24,410,055
1,450,642
4,833,444
21,969,050
1,392,616
Total
0
0.000%
0.000
0.000
0.000%
0
0.00%
0
0
0.00
0.00
0
0
0
Total
0
0.000%
0.000
0.000
0.000%
0
0.00%
0
0
0.00
0.00
0
0
0
Total
7,322,118
5,004,177
24,410,055
1,450,642
4,833,444
Total
292,418
0.657%
0.148
2.360
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
VERSION OFICIAL
LIFE OF MINE (Topografía Real 31 Diciembre 2007)

LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM LOM
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Total
Operating Days 366 365 365 365 366 365 365 365 366 365 365 365 366 365 365 365 366 90 6,300
Optimal Cutoff 0.33% 0.35% 0.35% 0.30% 0.30% 0.40% 0.30% 0.30% 0.30% 0.27% 0.30% 0.30% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23%
Total Material Mined Ex-Pit (kt) 106,326 107,794 111,080 108,129 104,267 102,226 99,820 62,385 34,100 45,354 40,818 38,666 19,751 22,691 35,227 36,154 11,898 0 1,086,685
Total Material Mined (ex-pit+rehandle) 107,810 109,421 115,787 111,362 107,889 104,852 107,319 66,223 36,186 48,948 42,285 47,445 46,020 41,418 52,180 50,432 30,365 6,465 1,232,406
avg ktpd ex-pit 290,509 295,325 304,330 296,245 284,881 280,070 273,480 170,917 93,169 124,257 111,830 105,935 53,964 62,168 96,512 99,051 32,509 0 172.495
avg ktpd mov.tot. 294,563 299,782 317,226 305,100 294,779 287,265 294,023 181,432 98,868 134,105 115,850 129,987 125,737 113,473 142,958 138,170 82,965 71,983 195.626
Waste (kt) 74,363 74,957 81,418 79,505 77,407 76,183 78,551 37,994 7,822 18,105 12,106 20,597 19,687 15,172 25,817 24,013 2,523 0 726,220
Ore Hauled: from mine benches (kt) 18,579 19,591 18,514 20,241 21,973 24,516 18,224 19,314 22,064 23,302 23,776 16,771 64 7,520 9,410 12,141 9,375 0 285,374
%Cu 0.741% 0.530% 0.660% 0.590% 0.680% 0.860% 0.632% 0.660% 0.600% 0.469% 0.565% 0.684% 0.286% 0.539% 0.514% 0.772% 0.688% 0.000% 0.639177527%
g/t Au 0.126 0.120 0.152 0.140 0.160 0.200 0.128 0.170 0.145 0.101 0.126 0.150 0.020 0.128 0.110 0.173 0.159 0.000 0.144
g/t Ag 2.196 2.000 2.273 1.520 2.180 3.970 2.038 2.840 2.536 1.823 1.934 2.138 0.504 1.572 1.527 2.252 1.534 0.000 2.237
%FEM 10.167 6.600 11.291 4.780 3.610 11.170 15.496 7.040 7.241 5.435 7.929 17.730 0.907 8.127 10.836 15.615 22.977 0.000 9.587
SPI 106 117 145 141 136 150 139 137 127 117 146 150 150 147 138 138 150 0.000 135.434
RQD 0.518 0.720 0.800 0.860 0.870 0.880 0.801 0.580 0.620 0.683 0.818 0.928 0.592 0.788 0.772 0.605 0.817 0.000 0.754
BWI 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 14.215 13.475 13.000 13.000 15.799 12.959 13.560 13.357 13.000 0.000 5.834
BAI 0.171 0.190 0.204 0.210 0.210 0.200 0.199 0.200 0.197 0.199 0.200 0.200 0.200 0.243 0.276 0.205 0.200 0.000 0.203
11,189 0%
Low Grade Hauled (kt) 5,216 11,181 9,392 7,355 4,886 1,526 3,045 5,077 4,214 3,947 4,936 1,298 0 0 0 0 0 0 62,073
%Cu 0.271% 0.290% 0.283% 0.260% 0.260% 0.320% 0.260% 0.260% 0.262% 0.249% 0.263% 0.266% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.27%
g/t Au 0.089 0.070 0.084 0.060 0.070 0.080 0.087 0.100 0.080 0.065 0.071 0.079 0.000 0.000 0.000 0.000 0.000 0.000 0.077
g/t Ag 1.669 1.260 1.230 0.970 1.160 1.740 1.426 1.860 1.528 1.162 1.396 1.554 0.000 0.000 0.000 0.000 0.000 0.000 1.345
%FEM 7.692 4.950 9.236 3.680 2.880 5.380 10.986 7.240 5.400 4.992 5.928 15.338 0.000 0.000 0.000 0.000 0.000 0.000 6.338
from mine to Stock / High Grade (kt) 5,973 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,973

%Cu 0.560% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.560%
Rehandle from STOCKPILES (kt) 1,484 1,627 4,707 3,232 3,623 2,626 7,498 3,838 2,086 3,595 1,467 8,779 26,269 18,726 16,953 14,278 18,467 6,465 145,721
%Cu 0.542% 0.475% 0.570% 0.431% 0.360% 0.355% 0.355% 0.352% 0.348% 0.344% 0.340% 0.337% 0.336% 0.336% 0.336% 0.336% 0.336% 0.336% 0.352%
g/t Au 0.031 0.124 0.163 0.117 0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.096 0.000 0.076 0.076 0.076 0.076 0.078
g/t Ag 0.556 2.358 3.235 2.184 1.708 1.708 1.708 1.708 1.708 1.708 1.708 1.708 1.708 0.000 1.351 1.351 1.351 1.351 1.406
%FEM 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338 6.338
0
from CANDELARIA NORTE (kt) 2,195 2,064 1,756 1,028 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7,044
%Cu 1.281% 1.420% 1.434% 1.450% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1.385%
g/t Au 0.322 0.351 0.328 0.334 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.333
%CuO
om
re
Hauled:
fr
mine
be
nches
g/t Ag 7.619 7.067 7.639 6.873 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 7.353
%FEM 8.556 11.627 14.381 10.875 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 11.247
(kt)
31,02.%
29,0
10.%
27,0
10.%
25,0
from CANDELARIA SUR (kt) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N/D

23,09.%
21,0
80.%
%Cu 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% N/D
19,0
70.%
17,0
g/t Au 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 N/D
15,06.%
g/t Ag 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 N/D
%FEM
from ALCAPARROSA (kt) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

%Cu 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
g/t Au 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
%FEM
INCREMENTO DEL I.O.S - - - - - - - - - - - - - - - - - -

%Cu 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
g/t Au 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
g/t Ag 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
%FEM
WIP End of Year (Kt) 87,380 96,934 101,619 105,742 107,005 105,905 101,452 102,691 104,819 105,171 108,640 101,159 74,890 56,164 39,211 24,932 6,465 0.000
%Cu 0.402% 0.388% 0.369% 0.360% 0.355% 0.355% 0.352% 0.348% 0.344% 0.340% 0.337% 0.336% 0.336% 0.33605% 0.336% 0.336% 0.336% 0.000%
Non-Ore : Ore Ratio 4.7 4.5 5.0 4.3 3.7 3.2 4.5 2.2 0.5 0.9 0.7 1.3 306.4 2.0 2.7 2.0 0.3 0.0
Total Ore to Crusher (Kt) 22,258 23,283 24,978 24,502 25,595 27,143 25,722 23,152 24,150 26,896 25,243 25,550 26,333 26,246 26,362 26,419 27,842 6,465 438,140
22,258 23,283 24,978 24,502 25,595 27,143 25,722 23,152 24,150 26,896 25,243 25,550 26,333 26,246 26,362 26,419 27,842 6,465
TPD 60,814 63,788 68,432 67,128 69,933 74,363 70,471 63,430 65,983 73,689 69,160 70,000 71,949 71,907 72,226 72,381 76,071 71,983 69,548
Total Ore to Crusher/ Milled (Kt) 22,258 23,283 24,978 24,502 25,595 27,143 25,722 23,152 24,150 26,896 25,243 25,550 26,333 26,246 26,362 26,419 27,842 6,465 438,140
Mill Grade %Cu 0.781% 0.605% 0.698% 0.605% 0.635% 0.811% 0.551% 0.609% 0.579% 0.452% 0.552% 0.565% 0.336% 0.394% 0.399% 0.536% 0.455% 0.336% 0.556%
Mill Grade g/t Au 0.139 0.141 0.166 0.145 0.151 0.190 0.118 0.158 0.141 0.100 0.124 0.132 0.096 0.037 0.088 0.121 0.104 0.076 0.125
Mill Grade g/t Ag 2.621 2.474 2.832 1.832 2.113 3.751 1.942 2.652 2.465 1.807 1.920 1.990 1.705 0.450 1.414 1.765 1.413 1.351 2.043
%FEM 9.752 7.027 10.575 5.241 3.996 10.702 12.826 6.924 7.163 5.556 7.837 13.815 6.324 6.850 7.943 10.601 11.940 6.338 8.533
Cu Recovery Plant from Mine 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.5% 95.50%
Cu Recovery Plant from Stockpile 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 86.4% 80.9% 86.4% 86.4% 86.08%
Cu Recovery from UG 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.0% 94.00%
Cu Recovery Plant 94.8% 94.7% 93.9% 94.5% 94.8% 95.1% 93.8% 94.6% 95.0% 94.6% 95.2% 93.6% 86.4% 90.0% 90.6% 90.6% 91.0% 86.4% 93.41%
Transportation Loss 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
Cu Concentrate Tons 530,583 429,449 526,717 451,039 495,648 674,191 428,158 429,498 427,466 370,443 426,740 434,874 246,108 299,539 307,067 413,229 370,938 60,432 7,322,118
Cu Concentrate Grade 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.0%
Tailings - kton - sin CMP 21,726 22,858 24,447 24,054 25,104 26,467 25,297 22,727 23,730 26,538 24,826 25,117 26,082 25,946 26,056 25,995 27,469 6,403 430,841

From Mine 279,067 210,541 247,849 242,146 302,964 427,516 233,557 258,473 268,623 221,623 272,276 232,537 373 82,108 98,007 190,099 130,796 0.0000 3,698,554
From Stockpile 14,741 14,169 49,258 25,552 23,923 17,122 48,819 24,786 13,297 22,689 9,164 54,268 161,939 115,441 104,507 82,431 113,843 39,856 935,803.759
From Candelaria Norte 56,118 58,518 50,269 29,768 0 0 0 0 0 0 0 0 0 0 0 0 0 0 194,673
From Candelaria Sur 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
From Alcaparrosa 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
From I.O.S 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
WIP 643,906 689,218 688,757 698,286 697,669 689,504 655,210 654,639 661,590 656,902 671,546 623,607 461,668 346,227 241,719 143,937 39,856 0
WIP-St-Crushed-Thickener 4,413.286 4,413
Gross Cu Production ('000 lbs) 362,618 293,500 359,976 308,255 338,742 460,765 292,617 293,533 292,145 253,173 291,648 297,207 168,198 204,715 209,860 282,414 253,511 41,301 5,004,177
Gross Total Au Production (gr) 2,547,142 2,698,166 3,423,452 2,926,534 3,180,953 4,244,701 2,508,364 3,006,745 2,803,538 2,216,386 2,585,984 2,767,029 2,077,408 792,661 1,915,293 2,629,862 2,389,285 406,773 45,120,276
Ley de Au en conc (gr/ton) 4.80 6.28 6.50 6.49 6.42 6.30 5.86 7.00 6.56 5.98 6.06 6.36 8.44 2.65 6.24 6.36 6.44 6.73 6.16
Gross Total Ag Production (gr) 49,496,276 48,867,544 60,004,238 38,081,792 45,883,054 86,370,376 42,373,939 52,091,816 50,488,414 41,240,002 41,125,013 43,138,765 38,088,641 10,029,649 31,620,088 39,561,537 33,369,659 7,411,221 759,242,024
Ley de Ag en conc (gr/ton) 93.29 113.79 113.92 84.43 92.57 128.11 98.97 121.29 118.11 111.33 96.37 99.20 154.76 33.48 102.97 95.74 89.96 122.64 103.69
Payable Cu Production ('000 lbs) 349,926 283,227 347,377 297,466 326,886 444,638 282,376 283,259 281,919 244,312 281,440 286,805 162,311 197,550 202,515 272,530 244,638 44,269 4,833,444
366 365 365 365 366 365 365 365 366 365 365 365 106.1179148 365 365 365 366 365
384,979 318,326 354,176
RESUMEN PLANTA DE PROCESOS 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Utilización SAG 1 % 93.9 96.4 95.5 95.9 96.1 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5
Utilización SAG 2 % 93.6 94.3 95.9 96.0 95.1 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5
file:///conversion/tmp/scratch/443328352.xls 10/22/2019
Candelaria Drill Fleet Evaluation
Drilled meters 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 total
Base Case
Candelaria fleet 0 683,651 607,341 545,236 555,185 563,925 490,413 400,705 211,986 223,471 210,442 175,770 87,781 142,145 193,662 191,366 50,592 5,333,671
Contractor 0 5,716 134,600 0 0 0 190,668 0 330,984 5,664,654
total Base Case 0 689,367 741,941 545,236 555,185 563,925 681,080 400,705 211,986 223,471 210,442 175,770 87,781 142,145 193,662 191,366 50,592
Proposed case
Candelaria fleet 0 521,452 552,294 490,713 405,285 394,748 497,224 280,493 148,390 156,430 168,354 140,616 65,835 113,716 0 0 0 3,935,549
Contractor 0 0 0 0 0 0 0 0 0
Additional drill - Pit Viper 0 112,742 108,064 27,262 83,278 84,589 102,169 60,106 31,798 33,521 21,044 17,577 13,167 14,215 96,831 95,683 25,296 927,341 4,862,890
Drilled meters in Budget-08 - P&T (m) 834,838 879,515 1,079,125 1,078,178 1,083,561 953,024 932,328 609,555 410,840 528,508 547,713 500,258 248,313 336,334 447,527 526,908 263,624
difference Model estim - Budget (m) -834,838 -190,147 -337,184 -532,942 -528,377 -389,099 -251,248 -208,850 -198,854 -305,037 -337,271 -324,487 -160,533 -194,189 -253,865 -335,542 -213,031
Tons Drilled per Fleet

Base Case
GD120 0 54,752 44,405 31,595 34,256 29,888 25,310 17,536
BE 0 51,715 44,248 73,721 79,930 69,738 47,584 40,147 34,121 45,373 40,821 35,037 19,687 22,796 36,201 36,170 9,007
Contratista 0 890 19,652 0 0 0 28,348 0 972,927
Proposed case
GD120 0 19,540 26,465 21,063 37,681 9,963 23,286 0
BE 0 61,668 54,153 73,721 45,674 59,776 50,621 40,378 23,884 31,761 32,657 28,030 14,765 18,237 0 0 0
Additional drill - Pit Viper 0 17,558 15,774 5,266 17,128 14,944 15,186 8,652 5,118 6,806 4,082 3,504 2,953 2,280 18,100 18,085 4,503
Contratista 0 0 0 0 0 0 0 0 833,261
Penetration rate (m/Hr)

Base Case
GD120 0.0 22.6 19.8 26.6 31.8 25.0 19.9 17.4
BE 0.0 22.6 19.8 26.6 31.8 25.0 19.9 17.4 22.9 38.0 36.2 36.3 34.3 22.1 30.4 31.6 45.9
Proposed case
GD120 0.00 22.65 19.83 26.62 31.82 25.05 19.87 0.00 0.00
BE 0.00 25.87 22.68 30.60 36.54 28.74 22.73 20.00 26.34 43.54 41.52 41.63 39.42 25.32 0.00 0.00 0.00
Additional drill - Pit Viper 0.00 25.82 22.68 31.47 37.72 28.83 22.77 20.40 27.22 43.87 41.16 41.81 42.37 25.51 36.01 37.70 52.64
Contractor
Cost/meter
Base Case
GD120 0.00 10.38 11.47 9.66 9.04 10.71 12.61 13.91
BE 0.0 10.4 11.5 9.7 9.1 10.8 12.7 14.0 12.4 10.0 10.4 10.3 9.8 13.0 11.0 10.8 9.9
Contractor 19.2 19.2 19.2 19.2 19.2 19.2 19.2 19.2
Proposed case
GD120 0.00 10.38 11.47 9.66 9.04 10.71 12.61 0.00 0.00
BE 0.00 9.12 10.04 8.49 7.98 9.41 11.05 12.14 10.83 8.88 9.09 8.99 8.57 11.18 0.00 0.00 0.00
Additional drill - Pit Viper 0.00 9.68 10.26 8.49 7.93 9.33 10.88 11.74 10.40 8.65 8.99 8.85 8.22 10.94 9.37 9.19 8.66
Contractor 19.20 19.20 19.20 19.20 19.20 19.20 19.20 19.20
Total Cost
Base Case
U$/ton 0.000 0.067 0.088 0.050 0.044 0.061 0.097 0.097 0.077 0.049 0.053 0.051 0.044 0.081 0.059 0.057 0.056
U$/m 0.00 10.49 12.90 9.70 9.07 10.75 14.49 13.97 12.40 10.03 10.38 10.26 9.83 12.98 11.05 10.85 9.91
Proposed case
U$/ton 0.000 0.061 0.072 0.045 0.041 0.054 0.077 0.084 0.067 0.044 0.047 0.045 0.038 0.070 0.052 0.051 0.051
U$/m 0.00 9.54 10.51 8.77 8.42 9.63 11.44 12.12 10.83 8.92 9.14 9.03 8.59 11.21 9.76 9.58 9.09
Cost Difference ($/m) 0.00 -0.95 -2.39 -0.93 -0.65 -1.12 -3.05 -1.85 -1.57 -1.10 -1.24 -1.23 -1.23 -1.77 -1.29 -1.27 -0.82
drilled meters (m) 0 689,367 741,941 545,236 555,185 563,925 681,080 400,705 211,986 223,471 210,442 175,770 87,781 142,145 193,662 191,366 50,592
Savings (U$) $0 -$652,176 -$1,772,775 -$507,933 -$359,273 -$630,902 -$2,077,717 -$740,549 -$333,665 -$246,418 -$261,279 -$216,275 -$108,394 -$251,112 -$250,684 -$242,240 -$41,736
$0 $652 $1,773 $508 $359 $631 $2,078 $741 $334 $246 $261 $216 $108 $251 $251 $242 $42
NPV12 $4,364.88
investment $9,744.0
Difference ($5,379.12)
Drilling Parameters Used in Evaluation
Rock Type Weak Average Hard X-Hard Rock Type Weak Average Hard X-Hard
<150 Mpa 151-175 Mpa 176-225 Mpa > 225 Mpa <150 Mpa 151-175 Mpa 176-225 Mpa > 225 Mpa
Blast pattern (Bd X S (m)) Drilling diameter (inch)
Ore 9 x11 6x8 5x7 5x7 Ore 10.625 10.625 10.625 10.625
Waste 9 x 11 7x9 5x7 5x7 Waste 12.25 10.625 10.625 10.625
Tons/Blasthole Penetration rate (m/hr)

Ore 4,910 2,381 1,736 1,680 (GD120 & BE)
Waste 4,594 2,923 1,624 1,680 Ore 43 24 16 13
Waste 43 26 17 13
file:///conversion/tmp/scratch/443328352.xls datos evaluación

FORM AR-1
Phelps Dodge Corporation

Appropriation Request (AR-1)
Project: 1 PV351, 1 PV271 & 6 ARDVARC Systems Date: 6/2/2008
Unit: FMMC Location: Candelaria
Department: Mine Prioritization Category: 5
E. Cost Savings
IS Project Type: Infrastructure Strategic Customer Service QFZ Project
Request Type: ✘ Initial Revision Risk Rating: Medium Low Score: 1.85
Budgeted? ✘ Yes No Mandatory or ✘ Discretionary
Capital Required: (Thousands of Dollars) Budget Reference Nos. 0

This Request Previous Total Appropriation Request No. 0
Capital $ 8,354 $ - $ 8,354 Estimated Start Date: 12/30/1899
Start-up Costs $ - $ - $ - Estimated Finish Date: 7/1/2009
Transfer Amount $ - $ - $ - Additional Replacement ✘
Expense $ - $ - $ - Asset Disposal AR-2 No.:
Total $ 8,354 $ - $ 8,354 Subject to PCE? ✘ Yes No
Spending by Period: (Thousands of Dollars) Financial Support:
Prior Years Current Year Future Years Total IRR (%): 3% NPV @ 12% (k$) $ (4,107)
Capital $ - $ 1,600 $ 6,754 $ 8,354 NPV@12% (k$) $ (3,932)
Start-up Costs $ - $ - $ - $ - NPV@12% (k$) $ (4,107)
Transfer Amount $ - $ - $ - $ - NPV@15% (k$) $ (4,312)
Expense $ - $ - $ - $ - PVR: (0.5) @ 12%
Total $ - $ 1,600 $ 6,754 $ 8,354 Economic Life: 16 (years)
JV Contributions: Prior Years Current Year Future Years Total Exchange Rates:
Capital to Sites $ - $ 320 $ 1,351 $ 1,671 AR: Budget:
Expense to Sites $ - $ - $ - $ -
Spending In: Financial Benefit - Is it included in:
Current Forecast $ - $ 1,600 $ 6,754 $ 8,354 Current Forecast Yes ✘ No
Current Budget $ - $ 4,760 $ 4,425 $ 9,185 Current Budget Yes ✘ No
Project Summary/Description:
Funds are requested to purchase two additional Atlas Copco Pit Viper 351 drills 1-2008, 1-2009, and Ardvarc system for the two Pit Viper
351's.
The current Candelaria drill fleet will not be able to meet the required goal for drilling due to the nature of the rock hardness which negatively
impacts drilling productivity, increased drilling requirements to obtain a finer fragmentation of the ore to assure reaching budgeted milling rate
and achieving the designed slope angle with a minimum wall damage through trim and buffering blasting techniques.
The additional drilling capacity will have to be externalized at a higher operating cost.
The ARDVARCTM systems will automatize some basic drilling functions allowing for a 20% increase in drilling productivity while the Terralite
system will assure full 24/7 GPS coverage for the drill fleet, reducing operational delays due to this factor.
The benefits of this purchase are: to accomplish ex-pit tons scheduled in the LOM plans, to reduce drill cost by 15%, to achieve te expected
fragmentation for milling purpose and maintaining ore production by accomplishing the designed slope angles with minimal wall damage and
estrategically reduce drill contractor dependency.
Date Date Date
Date Date Date
Date Date Date
Date Date Date
Date Date Date
Date Date Date
Date Date Date
AR-1, Version 07-05 file:///conversion/tmp/scratch/443328352.xls

Freeport McMoRan Copper & Gold
FINANCIAL EVALUATION - FORM CE-1
(in thousands of U.S. Dollars)
Unit FMMC
Project Title 1 PV351, 1 PV271 & 6 ARDVARC Systems Appropriation Number Date 6/2/2008
Location Candelaria Budget Reference Number(s)
Evaluation Parameters Incremental Analysis Results

Tax Rate Applied Variable (Entered by Year) Net Present Value Internal Rate of Return #N/A Multiple Solutions - Negative Cash Flow in Out Years
MIRR Reinvestment Rate 12% @ 10% (3,932) Average Cash Flow ROI #N/A
Data Entry Guide MIRR Finance Rate 10% Base Rate of 12% (4,107) Payback Period (years) #N/A Cannot Solve - Investment Never Breaks Even
Project Life 16 years Detail @ 15% (4,312) Present Value Ratio @ 12% -0.53
Analysis Starting Year 2009 (Year One - Indicates the initial year discounting begins)
Adjusted IRR 2.9%
If This Investment is Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 TOTAL
(Proposed Case) Initial* 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
1 Revenue/Savings i 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2 Operating Costs i 0 6,574 7,797 4,782 4,676 5,428 7,790 4,856 2,294 1,994 1,923 1,587 754 1,593 1,889 1,833 460 56,230
3 Selling and General Admin i 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 Depreciation - Book i 0 690 1,380 1,577 1,774 1,774 1,994 2,270 2,325 1,635 1,254 1,366 1,169 1,169 948 673 1,544 23,540
5 Earnings Before Taxes 0 (7,264) (9,177) (6,359) (6,450) (7,202) (9,784) (7,126) (4,619) (3,629) (3,176) (2,953) (1,923) (2,762) (2,837) (2,506) (2,004) (79,770)
6 Income Taxes i 0 (2,542) (3,212) (2,226) (2,257) (2,521) (3,424) (2,494) (1,617) (1,270) (1,112) (1,034) (673) (967) (993) (877) (701) (27,919)
7 Net Earnings 0 (4,722) (5,965) (4,133) (4,192) (4,681) (6,359) (4,632) (3,003) (2,359) (2,065) (1,920) (1,250) (1,795) (1,844) (1,629) (1,302) (51,850)
8 Deferred Taxes i 0 172 256 147 63 18 43 83 (197) (240) 3 42 40 (84) (101) (24) (223) 0
9 Working Capital Change - Source/(Use) i 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Operating Cash Flow 0 (3,859) (4,329) (2,409) (2,355) (2,889) (4,323) (2,279) (875) (963) (808) (512) (41) (710) (997) (980) 19 (28,311)
11 Fixed Capital Investment (Expenditure) i (2,500) (8,540) 0 (3,150) 0 0 (3,528) (882) 0 0 (4,940) 0 0 0 0 0 0 (23,540)
12 Salvage/Opportunity Cost-Credit/(Cost) i 0 0 500 0 0 339 0 319 1,806 0 0 0 0 4,056 0 0 3,586 10,606
13 Total Investment (2,500) (8,540) 500 (3,150) 0 339 (3,528) (563) 1,806 0 (4,940) 0 0 4,056 0 0 3,586 (12,933)
14 Total Cumulative Investment (2,500) (11,040) (10,540) (13,690) (13,690) (13,351) (16,879) (17,441) (15,635) (15,635) (20,575) (20,575) (20,575) (16,520) (16,520) (16,520) (12,933)
15 Accumulated Book Depreciation 0 690 2,070 3,647 5,420 7,194 9,188 11,458 13,783 15,418 16,672 18,037 19,206 20,375 21,323 21,996 23,540
16 Total Net Investment (2,500) (10,350) (8,470) (10,043) (8,269) (6,156) (7,690) (5,983) (1,852) (217) (3,904) (2,538) (1,369) 3,855 4,803 5,476 10,606
17 Average Net Investment (2,500) (6,425) (9,410) (9,256) (9,156) (7,213) (6,923) (6,837) (3,918) (1,035) (2,060) (3,221) (1,954) 1,243 4,329 5,140 8,041
18 Net Cash Flow (2,500) (12,399) (3,829) (5,559) (2,355) (2,550) (7,851) (2,841) 931 (963) (5,748) (512) (41) 3,345 (997) (980) 3,605 (41,244)
If This Investment is Not Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 TOTAL

(As Is Case) Initial* 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
1 Revenue/Savings i 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2 Operating Costs i 0 7,226 9,569 5,290 5,035 6,059 9,867 5,596 2,628 2,240 2,184 1,804 863 1,844 2,139 2,076 501 64,921
3 Selling and General Admin i 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 Depreciation - Book i 0 113 225 422 619 619 729 1,005 1,170 1,058 1,177 1,211 1,014 1,014 904 629 1,158 13,065
5 Earnings Before Taxes 0 (7,339) (9,794) (5,712) (5,654) (6,678) (10,596) (6,601) (3,798) (3,298) (3,360) (3,015) (1,877) (2,858) (3,044) (2,704) (1,659) (77,986)
6 Income Taxes i 0 (2,569) (3,428) (1,999) (1,979) (2,337) (3,709) (2,310) (1,329) (1,154) (1,176) (1,055) (657) (1,000) (1,065) (946) (581) (27,295)
7 Net Earnings 0 (4,770) (6,366) (3,713) (3,675) (4,341) (6,887) (4,290) (2,469) (2,144) (2,184) (1,960) (1,220) (1,858) (1,978) (1,758) (1,079) (50,691)
8 Deferred Taxes i 0 28 42 65 72 26 23 78 34 (20) (16) 13 29 (45) (101) (61) (167) 0
9 Working Capital Change - Source/(Use) i 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Operating Cash Flow 0 (4,630) (6,099) (3,226) (2,985) (3,695) (6,135) (3,208) (1,265) (1,106) (1,024) (735) (177) (889) (1,175) (1,190) (88) (37,626)
11 Fixed Capital Investment (Expenditure) i (900) (900) 0 (3,150) 0 0 (1,764) (2,646) 0 0 (3,705) 0 0 0 0 0 0 (13,065)
12 Salvage/Opportunity Cost-Credit/(Cost) i 0 0 500 0 0 339 0 319 3,242 0 0 2,647 0 0 0 0 4,616 11,663
13 Total Investment (900) (900) 500 (3,150) 0 339 (1,764) (2,327) 3,242 0 (3,705) 2,647 0 0 0 0 4,616 (1,402)
14 Total Cumulative Investment (900) (1,800) (1,300) (4,450) (4,450) (4,111) (5,875) (8,202) (4,960) (4,960) (8,665) (6,018) (6,018) (6,018) (6,018) (6,018) (1,402)
15 Accumulated Book Depreciation 0 113 338 759 1,378 1,997 2,726 3,731 4,901 5,958 7,135 8,346 9,360 10,375 11,279 11,907 13,065
16 Total Net Investment (900) (1,688) (963) (3,691) (3,072) (2,114) (3,149) (4,471) (59) 998 (1,530) 2,328 3,342 4,357 5,261 5,889 11,663
17 Average Net Investment (900) (1,294) (1,325) (2,327) (3,381) (2,593) (2,632) (3,810) (2,265) 470 (266) 399 2,835 3,850 4,809 5,575 8,776
18 Net Cash Flow (900) (5,530) (5,599) (6,376) (2,985) (3,356) (7,899) (5,535) 1,977 (1,106) (4,729) 1,912 (177) (889) (1,175) (1,190) 4,528 (39,028)
Incremental Analysis
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 TOTAL
(Base Case)
Incremental Operating Cash Flow 0 770 1,771 816 630 806 1,813 929 390 143 216 223 135 178 178 210 107 9,315
Incremental Cumulative Investment (1,600) (9,240) (9,240) (9,240) (9,240) (9,240) (11,004) (9,240) (10,676) (10,676) (11,911) (14,558) (14,558) (10,502) (10,502) (10,502) (11,531)
Incremental Average Net Investment (1,600) (5,131) (8,085) (6,930) (5,775) (4,620) (4,292) (3,027) (1,653) (1,504) (1,795) (3,620) (4,789) (2,607) (480) (435) (735)
Incremental Net Cash Flow (1,600) (6,869) 1,771 816 630 806 49 2,693 (1,046) 143 (1,019) (2,424) 135 4,234 178 210 (923) (2,216)
Cash Flow ROI 15.0% 21.9% 11.8% 10.9% 17.4%
v 07-05
file:///conversion/tmp/scratch/443328352.xls CE-1
Project Risk Evaluation Form (RE-1) 6/2/2008
Low Medium High Score Rank Weight Risk
Tech...
1 2 3 4 5 (enter) Factor
Risk Factor - Elements*
A
Geol...
● ●
3 3 15% 0.45
B
Oper... 1 4 15% 0.15
Capital
●
C 2 1 20% 0.40
Perso...
● ●
D 3 5 10% 0.30
Envir...
● ●
E 2 2 15% 0.30
Politi...
● ●
F 1 6 5% 0.05
Market
●
G 1 7 5% 0.05
Other
●
H ● 1 8 5% 0.05
I ● 1 9 10% 0.10
* Project risk elements potentially affecting the acheivement of the

expected benefits and fianacial return. Medium Low 1.85
RE-1, Version 06-04 443328352.xls

Options Rebuilds Req. Rebuild Capital Purchase Capital MTG Capital Total Capital NPV12 IRR Payback
1 PV351, 1 PV 271, 6 ARDVARC Systems (4 BE's) 7 $ 8,993 $ 5,860 $ 2,494 $ 17,347 $ 258 13.1% 5.5
2 PV351, 6 ARDVARC Systems (4 BE's) 7 $ 8,993 $ 7,760 $ 2,494 $ 19,247 $ (871) 9.2% 6.4
Capital autorizado Budget 2008 2008 2009 total
diesel drill (2) $4,425 $4,425 $8,850

ARDVARC -BE-49R (4) $335 $0 $335
Total Budget-08 $4,760 $4,425 $9,185
Capital considerado en evaluación 2008 2009 total

drill - Pit Viper 351 (2) -$477 $3,885 $3,408
ARDVARC para Pit Viper 351 (2) $477 $477 $955
Sistema Terralites (1) $1,100 $1,100
ARDVARC para BE-49R 4 BE @ K$400 c/u $1,600 $1,600
total $ Evaluación $2,700 $4,362 $7,062
Diferencia -$2,060 -$63 -$2,123
file:///conversion/tmp/scratch/443328352.xls Capital Requirements Comparison

dureza roca LOM - Candelaria
100,000
90,000
80,000
Distribución Tons LOM según UCS
70,000
60,000
50,000
40,000
30,000
20,000
10,000
-
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Año
Weak Average Hard X-Hard

2009 2009
Candelaria PV351 PV351 or PV271
Factory Release Date
Delivery time 6 weeks 6 weeks
ARDVARC Install Time 1 week 1 week
Estimated Date in Production 2/1/2009 7/1/2009
Production Days Available 334 182
Production Hrs Available 4,192 2,284
DRILL LABOR OPERATOR MECHANIC
Base Wage $ 12.80 $ 12.00
Fringe (%) 8% 30%
Fringe ($) $ 1.02 $ 3.60
Total Excluding Overtime $ 13.82 $ 15.60
$/hr Excluding Overtime $ 0.01 $ 0.01
Overtime (%) 8% 11%
Overtimme ($) $ 1.54 $ 1.98
Absent (%) 0% 0% <- Covered in employee ratio
Absent ($) $ - $ -
Final $/hr $ 15.36 $ 17.58
Additional Info
Scheduled Annual Hours/Employee 2086 2086
Shifts 3 3
Employees Per Drill Per Shift - GD 1.63 0.57
Employees Per Drill Per Shift - BE-49 1.63 0.57 0.51 BE-49 w/ ARDVARC
Employees Per Drill Per Shift - PV271 & PV351 - Base 1.63 0.57
Employees Per Drill Per Shift - PV271 & PV351 w/ ARDVARC 1.63 0.51
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
As Is Case
GARDNER DENVER
Operating Units - Drills 0.0 3.9 3.8 1.5 1.3 1.7 2.1 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Drill Operators (Included Day Shift Crew) 0 19 19 8 7 9 11 9 0 0 0 0 0 0 0 0 0
$/hr Drill Operators $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09 $ 25.09
Drill Mechanics (Includes Day Shift Crew) 0.0 7.0 7.0 3.0 3.0 3.0 4.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
$/hr Drill Mechanics $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96 $ 9.96
Total $/hr Drill Labor Per Drill $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05 $ 35.05
BE-49
Proposed Case
IR/Atlas Copco PV271 & PV351
GARDNER DENVER
BE-49
file:///conversion/tmp/scratch/443328352.xls Labor
NPV12 IRR Payback CE-1 IRR
$ (4,107) 2.87% #N/A #N/A
Productivity Increase 15.0% Estimate ARDVARC
Productivity Increase -DMM3 0.0% Estimate

ARDVARCTM Productivity Sensitivity 1 PV351 & 1 PV271
% Drill Productivity Increase NPV12 $K IRR Payback
Adjustments to Labor Factors 15.0% $ (184) 11.2% 5.9 <- Sensitivity
Drill Operator Factor 0% Reduction 20.0% $ 258 13.1% 5.5 <- Proposed Case
Drill Mechanic Factor 10% Reduction 25.0% $ 1,204 19.0% NA <- Sensitivity
Adjustments to Drill String Components

Drill Bit Life 10% Improvement
Drill Stem Life 0% Improvement
Drill Stabilizer Life 0% Improvement
Drill Use of Availability Sensitivity 1 PV351 & 1 PV271
Adjustments to Drill String Components % Use of Availability Increase NPV12 $K IRR Payback
Maintenance Savings 10% Reduction 0% (PV 61%, BE 55%) $ 258 13.1% 5.5 <- Proposed Case
5% (PV 66%, BE 60%) $ 850 16.8% NA <- Sensitivity
10% (PV 70%, BE 65%) $ 1,375 20.5% NA <- Sensitivity
Drill Options Economics

NPV12 $K IRR Payback
2 PV351 $ (871) 9.2% 6.4
1 PV351 & 1 PV271 $ 258 13.1% 5.5
% Productivity Increase Vs IRR 0.0%

12 5.0%
10
8
6
IRR
4
2
0
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0%
% Productivity Increase Vs IRR
12
10 10.0%
8 15.0%
6 20.0%
IRR
4
25.0%
30.0%
2
35.0%
0
40.0%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0%
45.0%
Productivity Increase (%)
ARDVARCTM Maintenance Cost Reduction Sensitivity

% Maintenance Cost Reduction NPV10 $K IRR Payback
0.0%
5.0%
10.0%
15.0%
20.0%
ARDVARCTM Bit Life Improvement Sensitivity

% Bit Life Improvement NPV10 $K IRR Payback
0.0%
5.0%
10.0%
15.0%
20.0%
ARDVARCTM Elimination of Shift Change Impact on Efficiency

% Shift Efficiency Improvement NPV10 $K IRR Payback
0.0%
2.0%
3.8%
5.0%
Atlas Copco Fleet Replacement w/out ARDVARCTM

NPV10 $K IRR Payback
PV271's w/out ARDVARCTM
Material Hardness Distribution
Ore Distribution by Hardness 2008-2015
Distribución Unidades de Dureza (Ton*106) en Mineral Ore Distribution by Hardness 2016-2024
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Weak 17.8 19.3 16.8 7.8 9.7 12.4 13.4 6.7 14.4 10.8 11.4 8.6 0.0 5.6 8.1 8.2 8.7 179.8
Average 5.1 2.4 7.0 9.9 11.5 13.3 1.9 3.6 2.2 10.9 11.9 8.6 0.0 0.5 0.7 0.5 0.0 90.1
Hard 0.1 0.0 0.2 0.1 0.0 0.0 0.5 0.6 0.0 0.0 0.0 0.0 0.0 0.3 0.1 0.0 0.0 1.8
X-hard 10.7 0.9 4.6 2.8 0.2 0.0 2.4 11.0 6.7 0.0 0.0 0.0 0.0 0.6 0.9 1.5 0.0 42.3
Total tons 33.7 22.6 28.6 20.6 21.5 25.8 18.2 22.0 23.2 21.7 23.3 17.2 0.0 7.0 9.8 10.1 8.7 314.0
Waste Distribution by Hardness 2008 - 2015
Distribución Unidades de Dureza (Ton*106) en Estéril Waste Distribution by Hardness 2016 - 2024
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Weak 44.6 31.3 13.9 65.3 79.0 43.2 19.9 9.4 8.3 21.8 14.1 15.1 17.7 5.7 14.7 15.5 0.3 419.9
Average 2.6 0.1 3.6 0.2 0.0 0.0 1.4 2.5 1.5 1.8 3.5 2.4 0.0 0.8 9.7 10.3 0.0 40.3
Hard 18.3 53.3 52.9 15.8 13.3 28.3 52.6 14.1 0.0 0.0 0.0 0.0 1.7 7.6 1.4 0.0 0.0 259.2
X-hard 8.1 0.1 9.3 3.3 0.4 2.5 9.1 9.7 1.1 0.0 0.0 0.4 0.3 1.7 0.6 0.2 0.0 46.8
Total tons 73.6 84.8 79.7 84.7 92.7 73.9 83.1 35.7 10.9 23.6 17.5 17.8 19.6 15.8 26.4 26.1 0.3 766.2
Total Material 107.3 107.4 108.3 105.3 114.2 99.6 101.2 57.7 34.1 45.4 40.8 35.0 19.7 22.8 36.2 36.2 9.0 1080.2
Plan Minero 2 -Total Mat. 106,326 107,794 111,080 108,129 104,267 102,226 99,820 62,385 34,100 45,354 40,818 38,666 19,751 22,691 35,227 36,154 11,898 1,087
file:///conversion/tmp/scratch/443328352.xls Dureza
Candelaria Blasting Class - tones (000's) Ore Waste Total
Year Weak Average Hard X-Hard Total Weak Average Hard X-Hard Total Weak Average Hard X-Hard
0 17,794 5,145 56 10,676 33,670 2008 44,627 2,582 18,262 8,121 73,592 107,262 2008 62,421 7,726 18,318 18,796
1 19,280 2,406 0 908 22,594 2009 31,302 78 53,272 112 84,764 107,358 2009 50,582 2,484 53,272 1,020
2 16,836 6,974 172 4,616 28,597 2010 13,889 3,595 52,945 9,279 79,708 108,305 2010 30,724 10,569 53,116 13,895
3 7,827 9,932 93 2,783 20,635 2011 65,347 238 15,807 3,288 84,680 105,316 2011 73,174 10,171 15,900 6,071
4 9,704 11,548 0 209 21,461 2012 79,023 38 13,259 404 92,724 114,185 2012 88,726 11,586 13,259 613
5 12,410 13,343 0 0 25,753 2013 43,152 - 28,262 2,459 73,873 99,626 2013 55,562 13,343 28,262 2,459
6 13,379 1,874 472 2,435 18,160 2014 19,943 1,417 52,581 9,140 83,081 101,242 2014 33,322 3,291 53,054 11,575
7 6,685 3,631 642 11,009 21,967 2015 9,425 2,481 14,149 9,661 35,716 57,683 2015 16,110 6,112 14,791 20,670
8 14,386 2,183 0 6,657 23,227 2016 8,326 1,467 - 1,101 10,894 34,121 2016 22,712 3,651 - 7,758
9 10,829 10,918 0 0 21,747 2017 21,798 1,828 - - 23,626 45,373 2017 32,627 12,746 - -
10 11,401 11,873 0 0 23,274 2018 14,077 3,470 - - 17,547 40,821 2018 25,479 15,343 - -
11 8,624 8,624 0 0 17,247 2019 15,067 2,352 - 370 17,790 35,037 2019 23,691 10,976 - 370
12 33 0 0 4 38 2020 17,682 - 1,665 302 19,649 19,687 2020 17,715 - 1,665 307
13 5,639 460 254 635 6,989 2021 5,705 810 7,565 1,728 15,808 22,796 2021 11,344 1,270 7,819 2,363
14 8,067 694 93 918 9,772 2022 14,735 9,675 1,448 571 26,429 36,201 2022 22,803 10,368 1,541 1,489
15 8,177 484 0 1,455 10,117 2023 15,515 10,313 7 219 26,053 36,170 2023 23,692 10,797 7 1,674
16 8,735 10 0 0 8,745 2024 261 - - - 261 9,007 2024 8,997 10 - -
Total 179,807 90,100 1,782 42,305 313,994 419,612 40,345 259,222 46,755 766,195 1,080,190 590,684 130,434 261,004 89,060
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Year 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Total Ore Tons (000)
Weak 17,794 19,280 16,836 7,827 9,704 12,410 13,379 6,685 14,386 10,829 11,401 8,624 33 5,639 8,067 8,177 8,735
Average 5,145 2,406 6,974 9,932 11,548 13,343 1,874 3,631 2,183 10,918 11,873 8,624 0 460 694 484 10
Hard 56 0 172 93 0 0 472 642 0 0 0 0 0 254 93 0 0
X-Hard 10,676 908 4,616 2,783 209 0 2,435 11,009 6,657 0 0 0 4 635 918 1,455 0
Total 33,670 22,594 28,597 20,635 21,461 25,753 18,160 21,967 23,227 21,747 23,274 17,247 38 6,989 9,772 10,117 8,745
Total Waste Tons (000)
Weak 44,627 31,302 13,889 65,347 79,023 43,152 19,943 9,425 8,326 21,798 14,077 15,067 17,682 5,705 14,735 15,515 261
Average 2,582 78 3,595 238 38 0 1,417 2,481 1,467 1,828 3,470 2,352 0 810 9,675 10,313 0
Hard 18,262 53,272 52,945 15,807 13,259 28,262 52,581 14,149 0 0 0 0 1,665 7,565 1,448 7 0
X-Hard 8,121 112 9,279 3,288 404 2,459 9,140 9,661 1,101 0 0 370 302 1,728 571 219 0
Total 73,592 84,764 79,708 84,680 92,724 73,873 83,081 35,716 10,894 23,626 17,547 17,790 19,649 15,808 26,429 26,053 261
Total From Mine Production (Without Stockpile) 104,131 105,729 109,324 107,101 104,267 102,226 99,820 62,385 34,100 45,354 40,818 38,666 19,751 22,691 35,227 36,154 11,898
Variance (000's Tons) 3,131 1,628 -1,019 -1,785 9,919 -2,600 1,421 -4,702 21 19 3 -3,629 -64 105 974 16 -2,891
LOM Tonnages - Provided by Candelaria 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Mill Ore 18,579 19,591 18,514 20,241 21,973 24,516 18,224 19,314 22,064 23,302 23,776 16,771 64 7,520 9,410 12,141 9,375
Mill Ore Stockpiled (longterm) 11,189 11,181 9,392 7,355 4,886 1,526 3,045 5,077 4,214 3,947 4,936 1,298 0 0 0 0 0
Waste 74,363 74,957 81,418 79,505 77,407 76,183 78,551 37,994 7,822 18,105 12,106 20,597 19,687 15,172 25,817 24,013 2,523
Total Material Mined 104,131 105,729 109,324 107,101 104,267 102,226 99,820 62,385 34,100 45,354 40,818 38,666 19,751 22,691 35,227 36,154 11,898
Total Ore Mined 29,768 30,772 27,906 27,596 26,859 26,042 21,269 24,391 26,278 27,248 28,712 18,069 64 7,520 9,410 12,141 9,375
Stockpiled Ore to Mill 1,484 1,627 4,707 3,232 3,623 2,626 7,498 3,838 2,086 3,595 1,467 8,779 26,269 18,726 16,953 14,278 18,467
Total Material Moved 105,615 107,356 114,031 110,333 107,889 104,852 107,319 66,223 36,186 48,948 42,285 47,445 46,020 41,418 52,180 50,432 30,365
Percent Ore
Weak 53% 85% 59% 38% 45% 48% 74% 30% 62% 50% 49% 50% 89% 81% 83% 81% 100%
Average 15% 11% 24% 48% 54% 52% 10% 17% 9% 50% 51% 50% 0% 7% 7% 5% 0%
Hard 0% 0% 1% 0% 0% 0% 3% 3% 0% 0% 0% 0% 0% 4% 1% 0% 0%
X-Hard 32% 4% 16% 13% 1% 0% 13% 50% 29% 0% 0% 0% 11% 9% 9% 14% 0%
Ore Variable Penetration Rate Factor

Weak 2.7 5.9 3.3 1.3 2.0 2.3 4.8 0.5 3.6 2.4 2.4 2.5 6.3 5.5 5.7 5.5 7.4
Average -0.6 -0.9 0.0 1.5 1.9 1.8 -1.0 -0.6 -1.0 1.7 1.7 1.6 0.0 -1.2 -1.2 -1.3 -1.6
Hard -2.4 0.0 -2.4 -2.4 0.0 0.0 -2.2 -2.2 0.0 0.0 0.0 0.0 0.0 -2.1 -2.4 0.0 0.0
X-Hard 0.4 -1.4 -0.6 -0.8 -1.6 0.0 -0.8 1.6 0.2 0.0 0.0 0.0 -0.9 -1.0 -1.0 -0.7 0.0
Percent Waste
Weak 61% 37% 17% 77% 85% 58% 24% 26% 76% 92% 80% 85% 90% 36% 56% 60% 100%
Average 4% 0% 5% 0% 0% 0% 2% 7% 13% 8% 20% 13% 0% 5% 37% 40% 0%
Hard 25% 63% 66% 19% 14% 38% 63% 40% 0% 0% 0% 0% 8% 48% 5% 0% 0%
X-Hard 11% 0% 12% 4% 0% 3% 11% 27% 10% 0% 0% 2% 2% 11% 2% 1% 0%
Ore Variable Penetration Rate Factor

Weak 3.5 1.2 -0.7 5.1 5.9 3.3 -0.1 0.1 5.1 6.6 5.4 5.9 6.4 1.1 3.0 3.4 7.4
Average -1.4 -1.6 -1.3 -1.6 -1.6 -1.6 -1.5 -1.2 -0.8 -1.1 -0.3 -0.8 -1.6 -1.3 0.8 1.0 -1.6
Hard 0.0 3.7 4.1 -0.6 -1.1 1.3 3.8 1.4 -2.5 -2.5 -2.5 -2.5 -1.6 2.2 -1.9 -2.5 -2.5
X-Hard -0.9 -1.6 -0.9 -1.4 -1.6 -1.4 -0.9 0.1 -1.0 -1.6 -1.6 -1.5 -1.5 -0.9 -1.5 -1.6 -1.6
file:///conversion/tmp/scratch/443328352.xls LOM Tonnages

Drilling Parameters Used in Evaluation - Modified as May 12
Rock Type Weak Average

140 Mpa 140 Mpa
Blast pattern (Bd X S (m))
Ore 7X9 7X9
Waste 9 X 10.5 7x9
Tons/Blasthole
Ore 4,910 2,381
Waste 4,594 2,923
Drilling diameter (inch)

Ore 10.625 10.625
Waste 12.25 10.625
Penetration rate (m/hr)

(GD120 & BE)
Ore 43 24
Waste 43 26
Estimated Effeciency Factor

Ore 70.4% 74.9%
Waste 70.4% 74.9%
Effective Penetration Rates

Ore 30 18
Waste 30 19
Penetration Rate
Ore 62 38
Waste 62 38
189 115
189 115
Effective Penetration Rates

Ore 44 28
Waste 44 28
43 25
Provided by Carlos on 5/14/08
The effective penetration rate would be as follow:
Weak rock: 25 m/hr <-- Assuming rates provided were flipped

Average rock: 27 m/hr veloc. Efectiva
Hard rock 27 m/hr
x-hard 29 m/hr
Rock Type:
Weak 41 m/hr veloc. Instantánea

Average : 36 m/hr
Hard 32 m/hr
x-hard 30 m/hr
Hard X-Hard
176-225 Mpa > 225 Mpa
6X8 5X7
6X8 7X9
Weak Average Hard X-Hard

1,736 1,680 3,024 3,024 2,304 1,680
1,624 1,680 4,536 3,024 2,304 3,024
10.625 10.625
10.625 10.625
16 13 <=== Valores a confirmar con HBO para las GD/BE. No hay valores para la PV's
17 13 Esta es la tasa de penetración instantánea
78.2% 79.2% <==== % del tiempo total de perforación que la máquina está efectivamente perforando
79.6% 79.2%
13 10 <=== Tasa instantáne de perforación, basada en las condiciones operacionales

14 10
21 16 <=== Tasa penetración instantánea entregada por HBO

21 16
64 49
64 49
17 13 <== Tasa penetración efectiva (en tpo disponible)- considera demoras

17 13
17 13
valores para la PV's
efectivamente perforando
nes operacionales
Nominal Operating Days 365 Caso:
Operating Hours Per Day (Considering Shift Change) 24
Fleet Calculated Average Efficiency Carlos,
Candelaria Drilling and Blasting Parameters GARDNER DENVER 38% Adjunto relación de dureza de la roca con BXE y explosivo utilizado.
Material Weak Average Hard X-Hard BE-49 36% MINERAL (10 5/8”)
Burden Waste, feet 30.00 23.00 20.00 23.00
Burden Ore, feet 23.00 23.00 20.00 17.00 Weak Average Hard X-Hard
Spacing Waste, feet 34.00 30.00 26.00 30.00 7X9 7X9 6X8 5X7
Spacing Ore, feet 30.00 30.00 26.00 23.00 Apex_130 Apex_150 Apex_150C Apex_150C Explosivos
Bench Height, feet 52.49 52.49 52.49 52.49
Density Waste, pcf 181.04 181.04 181.04 187.28 LASTRE (10 5/8” – 12 ¼” un equipo )
Density Ore, pcf 193.53 193.53 193.53 187.28
Metric Tons/hole Waste 4,397 2,974 2,242 3,077 Weak Average Hard X-Hard
Metric Tons/hole Ore 3,180 3,180 2,396 1,744 20 % 9X10.5 7X9 6X8 7X9
GARDNER DENVER 80 % 8X9.5
Diameter Waste, inches 12.250 10.625 10.625 10.625
Diameter Ore, inches 10.625 10.625 10.625 10.625
Depth Waste, feet 59 59 59 59
Depth Ore, feet 59 59 59 59 m/hr Velocidad efectiva (en tpo diaponible) Effective Penetration Rates -HBO
Drill Rate Waste, ft/hour 143 92 55 42 43.7 28.2 16.8 12.7 Ore 44 28 17 13
Drill Rate Ore, ft/hour 143 92 54 42 43.7 28.2 16.5 12.7 Waste 44 28 17 13
BE-49 43 25 17 13
Depth Ore, feet 59 59 59 59 m/hr Velocidad efectiva (en tpo diaponible)
Drill Rate Waste, ft/hour 143 92 55 42 43.7 28.2 16.8 12.7
Drill Rate Ore, ft/hour 143 92 54 42 43.7 28.2 16.5 12.7
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Tons assigned GD-120 - ore + waste 54,752 44,405 31,595 34,256 29,888 25,310 17,536 0 0 0 0 0 0 0 0 0
tons asigned BE ore+waste 51,715 44,248 73,721 79,930 69,738 47,584 40,147 34,121 45,373 40,821 35,037 19,687 22,796 36,201 36,170 9,007
tons assigned - contractor 890 19,652 0 0 0 28,348 0 0 0 0 0 0 0 0 0 0
total 107,358 108,305 105,316 114,185 99,626 101,242 57,683 34,121 45,373 40,821 35,037 19,687 22,796 36,201 36,170 9,007
tons LOM 107,358 108,305 105,316 114,185 99,626 101,242 57,683 34,121 45,373 40,821 35,037 19,687 22,796 36,201 36,170 9,007
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Eqwuipos requeridos
GD 120 3.9 3.8 1.5 1.3 1.7 2.1 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
BE49 3.7 3.8 3.6 3.1 3.9 4.0 4.0 2.6 1.6 1.7 1.4 0.8 2.0 1.9 1.8 0.3
Contractor
% asignado de tons
GD 120 51.0% 41.0% 30.0% 30.0% 30.0% 25.0% 30.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
BE49 48.2% 40.9% 70.0% 70.0% 70.0% 47.0% 69.6% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Contractor 0.8% 18.1% 0.0% 0.0% 0.0% 28.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
DRILLING - GARDNER DENVER 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Annual Operating Days 365 366 365 365 365 366 365 365 365 366 365 365 365 366 365 365 365
Tonnage Allocation - Weak Ore 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - Average Ore 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - Hard Ore 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - X-Hard Ore 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - Weak Waste 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - Average Waste 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - Hard Waste 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Tonnage Allocation - X-Hard Waste 0% 51% 41% 30% 30% 30% 25% 30% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Verification tons assigned

Ore 0 22,594 28,597 20,635 21,461 25,753 18,160 21,967 23,227 21,747 23,274 17,247 38 6,989 9,772 10,117 8,745
Waste 0 84,764 79,708 84,680 92,724 73,873 83,081 35,716 10,894 23,626 17,547 17,790 19,649 15,808 26,429 26,053 261
total 0 107,358 108,305 105,316 114,185 99,626 101,242 57,683 34,121 45,373 40,821 35,037 19,687 22,796 36,201 36,170 9,007
total from "LOM Tonnage" sheet 0 105,729 109,324 107,101 104,267 102,226 99,820 62,385 34,100 45,354 40,818 38,666 19,751 22,691 35,227 36,154 11,898
Ore
Weak 0 9,833 6,903 2,348 2,911 3,723 3,345 2,032 0 0 0 0 0 0 0 0 0
Average 0 1,227 2,859 2,980 3,464 4,003 468 1,104 0 0 0 0 0 0 0 0 0
Hard 0 0 70 28 0 0 118 195 0 0 0 0 0 0 0 0 0
X-Hard 0 463 1,893 835 63 0 609 3,347 0 0 0 0 0 0 0 0 0
Total Ore Tons (000's) 0 11,523 11,725 6,191 6,438 7,726 4,540 6,678 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 3,093 2,171 738 916 1,171 1,052 639 0 0 0 0 0 0 0 0 0
Number of Holes Average 0 386 899 937 1,090 1,259 147 347 0 0 0 0 0 0 0 0 0
Number of Holes Hard 0 0 29 12 0 0 49 81 0 0 0 0 0 0 0 0 0
Number of Holes X-Hard 0 265 1,085 479 36 0 349 1,919 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 182,630 128,207 43,611 54,069 69,147 62,124 37,749 0 0 0 0 0 0 0 0 0
Drill Footage Average 0 22,795 53,110 55,343 64,347 74,350 8,701 20,502 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 0 1,733 690 0 0 2,911 4,809 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 15,678 64,100 28,280 2,128 0 20,615 113,349 0 0 0 0 0 0 0 0 0
Drill Penetration Rate Weak 0.0 149.4 146.8 144.8 145.5 145.8 148.3 144.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Drill Penetration Rate Average 0.0 91.4 92.3 93.9 94.2 94.1 91.4 91.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Drill Penetration Rate Hard 0.0 0.0 51.9 51.9 0.0 0.0 52.1 52.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Drill Penetration Rate X-Hard 0.0 40.2 41.0 40.8 40.0 0.0 40.8 43.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Drill Hrs Weak 0 1,222 873 301 372 474 419 262 0 0 0 0 0 0 0 0 0
Drill Hrs Average 0 249 575 590 683 790 95 223 0 0 0 0 0 0 0 0 0
Drill Hrs Hard 0 0 33 13 0 0 56 92 0 0 0 0 0 0 0 0 0
Drill Hrs X-Hard 0 390 1,564 693 53 0 505 2,623 0 0 0 0 0 0 0 0 0
file:///conversion/tmp/scratch/443328352.xls GD&BE-49's
Gardner Denver Avg. Ore Penetration Rate (ft/hr) 0 119 81 80 109 113 88 55 0 0 0 0 0 0 0 0 0
Waste
Weak 0 15,964 5,694 19,604 23,707 12,946 4,986 2,865 0 0 0 0 0 0 0 0 0
Average 0 40 1,474 72 12 0 354 754 0 0 0 0 0 0 0 0 0
Hard 0 27,169 21,707 4,742 3,978 8,479 13,145 4,301 0 0 0 0 0 0 0 0 0
X-Hard 0 57 3,804 986 121 738 2,285 2,937 0 0 0 0 0 0 0 0 0
Total Waste Tons (000's) 0 43,229 32,680 25,404 27,817 22,162 20,770 10,858 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 3,631 1,295 4,459 5,392 2,944 1,134 652 0 0 0 0 0 0 0 0 0
Number of Holes Average 0 13 496 24 4 0 119 254 0 0 0 0 0 0 0 0 0
Number of Holes Hard 0 12,121 9,684 2,116 1,775 3,782 5,864 1,919 0 0 0 0 0 0 0 0 0
Number of Holes X-Hard 0 19 1,236 321 39 240 743 955 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 214,410 76,481 263,304 318,408 173,873 66,964 38,482 0 0 0 0 0 0 0 0 0
Drill Footage Average 0 790 29,266 1,420 229 0 7,032 14,976 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 715,776 571,892 124,933 104,795 223,375 346,321 113,319 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 1,096 73,018 18,931 2,326 14,157 43,856 56,370 0 0 0 0 0 0 0 0 0
Drill Hrs Weak 0 1,482 536 1,772 2,131 1,185 467 268 0 0 0 0 0 0 0 0 0
Drill Hrs Hard 0 12,144 9,645 2,289 1,935 3,952 5,872 2,000 0 0 0 0 0 0 0 0 0
Drill Hrs X-Hard 0 27 1,795 471 58 353 1,079 1,352 0 0 0 0 0 0 0 0 0
Gardner Denver Waste Penetration Rate (ft/hr) 0 68 61 90 103 75 62 59 0 0 0 0 0 0 0 0 0
All Material Mined
Gardner Denver Penetration Rate (ft/hr) - All 0 74 65 87 104 82 65 57 0 0 0 0 0 0 0 0 0
GD120 penetration rate (m/hr) 0.0 22.6 19.8 26.6 31.8 25.0 19.9 17.4
Rebuild Downtime (Effective Drilling Time Lost) Hrs 1,999 1,999 0 666 0 0 666 0 0 0 0 0 0 0 0 0 0
Drilling Hrs - BEFORE Rebuild Downtime 15,996 16,040 15,996 15,996 15,996 16,040 15,996 15,996 0 0 0 0 0 0 0 0 0
Drilling Hrs - AFTER Rebuild Downtime 13,996 14,040 15,996 15,329 15,996 16,040 15,329 15,996 0 0 0 0 0 0 0 0 0
Drilling Hrs - required 0 15,524 15,343 6,144 5,234 6,754 8,570 6,985 0 0 0 0 0 0 0 0 0
Check ( -1 < Variance < 1) 13,996 -1,484 652 9,185 10,761 9,286 6,759 9,010 0 0 0 0 0 0 0 0 0
Shift Efficiency (%) 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67%
Operating Hours - available 0 15,575 15,394 6,164 5,251 6,776 8,598 7,008 0 0 0 0 0 0 0 0 0
Electricity (KW/hr) 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0 558.0
Electricity (KWh) 0 8,690,620 8,589,383 3,439,504 2,930,187 3,780,862 4,797,715 3,910,288 0 0 0 0 0 0 0 0 0
DRILLS
Candelaria's GD Fleet 4 4 4 4 4 4 4 2 0 0 0 0 0 0 0 0 0
Fleet Required 0 4 4 2 2 2 3 2 0 0 0 0 0 0 0 0 0
Ready Drills Required 0.0 1.8 1.8 0.7 0.6 0.8 1.0 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Operating 0.0 1.8 1.8 0.7 0.6 0.8 1.0 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fleet Units 0.0 3.9 3.8 1.5 1.3 1.7 2.1 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Mechanical Availability 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83% 83%
Use of Availability 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55% 55%
Fleet Asset Efficiency 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46% 46%
Calculated Fleet Asset Efficiency 0% 44% 44% 35% 30% 39% 33% 40% 0% 0% 0% 0% 0% 0% 0% 0% 0%
COST RATES
Electricity ($/KWh) - L6 0.06059 0.06059 0.05723 0.05723 0.05723 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622
Operator & Maintenance Labor - Including Fringes 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05 35.05
Contract Services - Maintenance 3.96 4.08 4.21 4.33 4.46 4.60 4.73 4.88 5.02 5.17 5.17 5.17 5.17 5.17 5.17 5.17 5.17
Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tires 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Electricity 33.81 33.81 31.93 31.93 31.93 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37
Lubricants 2.89 2.98 3.07 3.16 3.26 3.35 3.45 3.56 3.66 3.77 3.77 3.77 3.77 3.77 3.77 3.77 3.77
Maintenance Materials - Mechanical 39.38 40.56 41.78 43.03 44.32 45.65 47.02 48.43 49.89 51.38 51.38 51.38 51.38 51.38 51.38 51.38 51.38
Electric Parts & Supplies 7.53 7.76 7.99 8.23 8.48 8.73 8.99 9.26 9.54 9.83 9.83 9.83 9.83 9.83 9.83 9.83 9.83
PCR 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL $/hr (excluding drill string) 122.62 124.24 124.03 125.73 127.50 128.75 130.61 132.55 134.53 136.57 136.57 136.57 136.57 136.57 136.57 136.57 136.57
TOTAL $ 0 1,935,045 1,909,351 775,053 669,580 872,414 1,123,041 928,909 0 0 0 0 0 0 0 0 0
$/TON 0.000 0.035 0.043 0.025 0.020 0.029 0.044 0.053 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
CONSUMABLES - DRILL STRING
Bits 12.25"
Bit Size 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25"
Life (feet) 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802
Cost ($/Bit) 3,759 3,909 4,065 4,228 4,397 4,573 4,756 4,946 5,144 5,350 5,350 5,350 5,350 5,350 5,350 5,350 5,350
Bits 10.62"
Bit Size 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62"
Life (feet) 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526
Cost ($/Bit) 3,307 3,439 3,577 3,720 3,869 4,023 4,184 4,352 4,526 4,707 4,707 4,707 4,707 4,707 4,707 4,707 4,707
Stems 12.25"
Life (feet) 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693
Cost ($/Stem) 9,054 9,507 9,982 10,481 11,005 11,555 12,133 12,740 13,377 14,046 14,046 14,046 14,046 14,046 14,046 14,046 14,046
Stems 10.62"
Life (feet) 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911
Cost ($/Stem) 6,958 7,167 7,382 7,603 7,831 8,066 8,308 8,557 8,814 9,079 9,079 9,079 9,079 9,079 9,079 9,079 9,079
Stabilizers 12.25"
Life (feet) 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444
Cost ($/Stabilizer) 4,993 5,243 5,505 5,780 6,069 6,372 6,691 7,026 7,377 7,746 7,746 7,746 7,746 7,746 7,746 7,746 7,746
Stabilizers 10.62"
Life (feet) 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193
Cost ($/Stabilizer) 3,129 3,285 3,450 3,622 3,803 3,993 4,193 4,403 4,623 4,854 4,854 4,854 4,854 4,854 4,854 4,854 4,854
Total Costs ($)

Bits 12.25" 0 220,417 81,761 292,769 368,191 209,106 83,757 50,055 0 0 0 0 0 0 0 0 0
Bits 10.62" 0 1,278,057 1,304,489 402,304 349,000 606,855 814,212 621,998 0 0 0 0 0 0 0 0 0
Stems 12.25" 0 24,951 9,345 33,782 42,894 24,594 9,946 6,001 0 0 0 0 0 0 0 0 0
Stems 10.62" 0 103,648 104,774 32,002 27,495 47,349 62,917 47,602 0 0 0 0 0 0 0 0 0
Stabilizers 12.25" 0 16,667 6,242 22,565 28,652 16,428 6,644 4,009 0 0 0 0 0 0 0 0 0
Stabilizers 10.62" 0 69,791 71,920 22,393 19,613 34,432 46,641 35,973 0 0 0 0 0 0 0 0 0
Total ($) 0 1,713,530 1,578,531 805,815 835,845 938,765 1,024,115 765,637 0 0 0 0 0 0 0 0 0
$/Ton 0.000 0.031 0.036 0.026 0.024 0.031 0.040 0.044 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
GARDNER DENVER DRILLING TOTAL $ 0 3,648,575 3,487,882 1,580,868 1,505,425 1,811,179 2,147,156 1,694,547 0 0 0 0 0 0 0 0 0
$/TON 0.000 0.067 0.079 0.050 0.044 0.061 0.085 0.097 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
$/HR, OPERATING 0.00 234.25 226.58 256.46 286.67 267.29 249.71 241.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
$/Foot 0.00 3.16 3.50 2.95 2.76 3.26 3.84 4.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
$/m 0.00 10.38 11.47 9.66 9.04 10.71 12.61 13.91
DRILLING - BE-49 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Ore
Weak 0 9,287 6,878 5,479 6,792 8,687 6,288 4,653 14,386 10,829 11,401 8,624 33 5,639 8,067 8,177 8,735
Average 0 1,159 2,849 6,952 8,084 9,340 881 2,527 2,183 10,918 11,873 8,624 0 460 694 484 10
Hard 0 0 70 65 0 0 222 447 0 0 0 0 0 254 93 0 0
X-Hard 0 437 1,886 1,948 147 0 1,144 7,662 6,657 0 0 0 4 635 918 1,455 0
Total Tons (000's) 0 10,884 11,683 14,445 15,023 18,027 8,535 15,289 23,227 21,747 23,274 17,247 38 6,989 9,772 10,117 8,745
Number of Holes Weak 0 2,921 2,163 1,723 2,136 2,732 1,978 1,463 4,525 3,406 3,586 2,712 11 1,774 2,537 2,572 2,747
Number of Holes Average 0 365 896 2,187 2,542 2,938 277 795 687 3,434 3,734 2,712 0 145 218 152 3
Number of Holes X-Hard 0 251 1,082 1,117 84 0 656 4,394 3,818 0 0 0 2 364 527 835 0
Drill Footage Weak 0 172,498 127,753 101,759 126,161 161,343 116,794 86,423 267,209 201,134 211,763 160,174 621 104,744 149,839 151,881 162,249
Drill Footage Average 0 21,531 52,922 129,133 150,143 173,484 16,359 46,937 40,553 202,790 220,522 160,174 0 8,539 12,888 8,996 185
Drill Footage Hard 0 0 1,727 1,610 0 0 5,473 11,010 0 0 0 0 0 6,260 2,286 0 0
Drill Footage X-Hard 0 14,809 63,873 65,988 4,964 0 38,757 259,505 225,460 0 0 0 147 21,522 31,105 49,294 0
Drill Hrs Weak 0 1,154 870 703 867 1,107 788 600 1,816 1,378 1,452 1,097 4 703 1,005 1,019 1,075
Drill Hrs Average 0 236 573 1,376 1,593 1,843 179 511 444 2,157 2,345 1,704 0 94 141 99 2
Drill Hrs Hard 0 0 33 31 0 0 105 211 0 0 0 0 0 120 44 0 0
Drill Hrs X-Hard 0 368 1,558 1,617 124 0 950 6,005 5,393 0 0 0 4 531 767 1,206 0
BE-49 Penetration Rate (ft/hr) 0 119 81 80 109 113 88 55 70 114 114 114 99 97 100 90 151
Waste
Weak 0 15,078 5,674 45,743 55,316 30,206 9,373 6,560 8,326 21,798 14,077 15,067 17,682 5,705 14,735 15,515 261
Average 0 38 1,469 167 27 0 666 1,727 1,467 1,828 3,470 2,352 0 810 9,675 10,313 0
Hard 0 25,662 21,630 11,065 9,281 19,784 24,713 9,847 0 0 0 0 1,665 7,565 1,448 7 0
X-Hard 0 54 3,791 2,302 283 1,721 4,296 6,724 1,101 0 0 370 302 1,728 571 219 0
Total Tons (000's) 0 40,831 32,564 59,276 64,907 51,711 39,048 24,858 10,894 23,626 17,547 17,790 19,649 15,808 26,429 26,053 261
Number of Holes Weak 0 3,429 1,290 10,403 12,581 6,870 2,132 1,492 1,893 4,958 3,202 3,427 4,021 1,297 3,351 3,529 59
Number of Holes Average 0 13 494 56 9 0 224 581 493 614 1,167 791 0 272 3,253 3,467 0
Number of Holes Hard 0 11,448 9,650 4,936 4,141 8,826 11,025 4,393 0 0 0 0 743 3,375 646 3 0
Number of Holes X-Hard 0 18 1,232 748 92 559 1,396 2,185 358 0 0 120 98 562 185 71 0
Drill Footage Weak 0 202,516 76,210 614,376 742,951 405,704 125,893 88,102 111,820 292,774 189,073 202,367 237,482 76,619 197,913 208,379 3,510
Drill Footage Average 0 746 29,162 3,314 534 0 13,221 34,287 29,136 36,287 68,892 46,701 0 16,088 192,084 204,755 0
Drill Footage Hard 0 676,067 569,864 291,510 244,522 521,208 651,083 259,436 0 0 0 0 43,867 199,304 38,144 175 0
Drill Footage X-Hard 0 1,035 72,759 44,173 5,428 33,033 82,449 129,056 21,134 0 0 7,110 5,803 33,160 10,953 4,201 0
Drill Hrs Weak 0 1,400 534 4,134 4,972 2,764 878 613 753 1,950 1,270 1,355 1,584 530 1,351 1,419 23
Drill Hrs Average 0 8 320 37 6 0 146 376 318 398 749 510 0 177 2,063 2,194 0
Drill Hrs Hard 0 11,471 9,611 5,340 4,515 9,222 11,039 4,579 0 0 0 0 819 3,468 716 3 0
Drill Hrs X-Hard 0 26 1,788 1,099 136 823 2,028 3,095 521 0 0 177 145 816 273 105 0
All Material Mined
BE-49 Penetration Rate (ft/hr) - All 0 74 65 87 104 82 65 57 75 125 119 119 113 72 100 104 151
Rebuild Downtime (Effective Drilling Time Lost) Hrs 666 1,337 666 2,666 0 0 666 1,999 0 0 2,248 0 0 0 0 0 0
Drilling Hrs - BEFORE Rebuild Downtime 15,996 15,999 15,956 15,996 15,996 16,040 15,996 15,996 15,016 12,658 12,133 13,789 14,597 12,385 14,331 14,891 2,898
Drilling Hrs - AFTER Rebuild Downtime 15,329 14,663 15,289 13,330 15,996 16,040 15,329 13,996 15,016 12,658 9,885 13,789 14,597 12,385 14,331 14,891 2,898
Drilling Hrs - Required 0 14,663 15,289 14,336 12,213 15,759 16,112 15,992 9,245 5,884 5,815 4,844 2,556 6,439 6,360 6,046 1,101
Check ( -1 < Variance < 1) 15,329 -1 0 -1,007 3,782 281 -783 -1,995 5,771 6,774 4,070 8,945 12,042 5,947 7,972 8,846 1,797
Operating Hours - Available 0 14,711 15,339 14,383 12,253 15,811 16,165 16,044 9,275 5,903 5,834 4,860 2,564 6,460 6,381 6,066 1,104
Electricity (KWh) 0 8,568,061 8,933,853 8,377,068 7,136,603 9,208,462 9,414,815 9,344,499 5,402,055 3,438,004 3,397,737 2,830,403 1,493,407 3,762,401 3,716,339 3,532,739 643,219
BE-49 penetration rate (m/hr) 0.0 22.6 19.8 26.6 31.8 25.0 19.9 17.4 22.9 38.0 36.2 36.3 34.3 22.1 30.4 31.6 45.9
DRILLS
Candelaria's BE-49 Fleet 4 4 4 4 4 4 4 4 3 2 2 2 2 2 2 2 1
Fleet Required 0 4 4 4 4 4 5 4 3 2 2 2 1 2 2 2 1
Operating 0.0 1.7 1.8 1.6 1.4 1.8 1.8 1.8 1.1 0.7 0.7 0.6 0.3 0.7 0.7 0.7 0.1
Fleet Units 0.0 3.7 3.8 3.6 3.1 3.9 4 4.00 2.6 1.6 1.7 1.4 0.8 2.0 1.9 1.8 0.3
COST RATES
Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tires 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Electricity 35.29 35.29 33.33 33.33 33.33 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74
Lubricants 2.89 2.98 3.07 3.16 3.26 3.35 3.45 3.56 3.66 3.77 3.77 3.77 3.77 3.77 3.77 3.77 3.77
PCR 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL $ 0 1,849,480 1,924,038 1,828,577 1,579,493 2,057,360 2,133,530 2,148,722 1,260,541 814,282 804,745 670,373 353,710 891,115 880,205 836,720 152,345
$/TON 0.000 0.036 0.043 0.025 0.020 0.030 0.045 0.054 0.037 0.018 0.020 0.019 0.018 0.039 0.024 0.023 0.017

Bits 12.25"
Bit Size 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25"
Life (feet) 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802
Cost ($/Bit) 3,759 3,909 4,065 4,228 4,397 4,573 4,756 4,946 5,144 5,350 5,350 5,350 5,350 5,350 5,350 5,350 5,350
Bits 10.62"
Bit Size 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62"
Life (feet) 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526
Cost ($/Bit) 3,307 3,439 3,577 3,720 3,869 4,023 4,184 4,352 4,526 4,707 4,707 4,707 4,707 4,707 4,707 4,707 4,707
Stems 12.25"
Life (feet) 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693
Cost ($/Stem) 9,054 9,507 9,982 10,481 11,005 11,555 12,133 12,740 13,377 14,046 14,046 14,046 14,046 14,046 14,046 14,046 14,046
Stems 10.62"
Life (feet) 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911
Cost ($/Stem) 6,958 7,167 7,382 7,603 7,831 8,066 8,308 8,557 8,814 9,079 9,079 9,079 9,079 9,079 9,079 9,079 9,079
Stabilizers 12.25"
Life (feet) 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444
Cost ($/Stabilizer) 4,993 5,243 5,505 5,780 6,069 6,372 6,691 7,026 7,377 7,746 7,746 7,746 7,746 7,746 7,746 7,746 7,746
Stabilizers 10.62"
Life (feet) 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193
Cost ($/Stabilizer) 3,129 3,285 3,450 3,622 3,803 3,993 4,193 4,403 4,623 4,854 4,854 4,854 4,854 4,854 4,854 4,854 4,854
Total Costs ($)

Bits 12.25" 0 208,189 81,471 683,127 859,112 487,914 157,462 114,596 151,271 411,925 266,021 284,725 334,132 107,800 278,458 293,184 4,938
Bits 10.62" 0 1,207,153 1,299,864 938,709 814,334 1,415,995 1,530,718 1,424,023 1,045,350 820,201 933,794 697,134 93,976 725,937 814,773 781,245 302,646
Stems 12.25" 0 23,567 9,312 78,824 100,086 57,387 18,698 13,739 18,310 50,338 32,508 34,794 40,831 13,173 34,028 35,827 603
Stems 10.62" 0 97,897 104,402 74,670 64,154 110,481 118,283 108,981 79,231 61,569 70,096 52,331 7,054 54,493 61,161 58,644 22,718
Stabilizers 12.25" 0 15,742 6,220 52,653 66,855 38,333 12,490 9,178 12,231 33,624 21,715 23,241 27,274 8,799 22,730 23,932 403
Stabilizers 10.62" 0 65,919 71,665 52,251 45,764 80,341 87,685 82,358 61,038 48,352 55,049 41,097 5,540 42,795 48,032 46,056 17,842
Total ($) 0 1,618,468 1,572,934 1,880,235 1,950,305 2,190,451 1,925,336 1,752,875 1,367,431 1,426,009 1,379,182 1,133,322 508,808 952,998 1,259,183 1,238,888 349,151
$/Ton 0.000 0.031 0.036 0.026 0.024 0.031 0.040 0.044 0.040 0.031 0.034 0.032 0.026 0.042 0.035 0.034 0.039
BE-49 DRILLING TOTAL $ 0 3,467,948 3,496,972 3,708,812 3,529,798 4,247,810 4,058,866 3,901,597 2,627,972 2,240,291 2,183,927 1,803,696 862,518 1,844,113 2,139,388 2,075,608 501,496
$/TON 0.000 0.067 0.079 0.050 0.044 0.061 0.085 0.097 0.077 0.049 0.053 0.051 0.044 0.081 0.059 0.057 0.056
$/HR, OPERATING 0.00 235.73 227.97 257.85 288.06 268.66 251.09 243.17 283.33 379.52 374.35 371.15 336.37 285.47 335.28 342.19 454.09
$/Foot 0.00 3.18 3.52 2.96 2.77 3.28 3.87 4.27 3.78 3.06 3.16 3.13 3.00 3.96 3.37 3.31 3.02
$/m 0.00 10.44 11.54 9.72 9.08 10.76 12.68 13.99 12.40 10.02 10.38 10.26 9.83 12.97 11.05 10.85 9.91
CONTRACT DRILLING 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Ore
Weak 0 160 3,055 0 0 0 3,746 0 0 0 0 0 0 0 0 0 0
Average 0 20 1,266 0 0 0 525 0 0 0 0 0 0 0 0 0 0
Hard 0 0 31 0 0 0 132 0 0 0 0 0 0 0 0 0 0
X-Hard 0 8 838 0 0 0 682 0 0 0 0 0 0 0 0 0 0
Total Ore Tons (000's) 0 187 5,189 0 0 0 5,085 0 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 50 961 0 0 0 1,178 0 0 0 0 0 0 0 0 0 0
Number of Holes X-Hard 0 4 480 0 0 0 391 0 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 2,970 56,741 0 0 0 69,579 0 0 0 0 0 0 0 0 0 0
Drill Footage Average 0 371 23,505 0 0 0 9,746 0 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 0 767 0 0 0 3,260 0 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 255 28,369 0 0 0 23,089 0 0 0 0 0 0 0 0 0 0
Total Drill Footage - Ore 0 3,596 109,382 0 0 0 105,674 0 0 0 0 0 0 0 0 0 0
Waste
Weak 0 260 2,520 0 0 0 5,584 0 0 0 0 0 0 0 0 0 0
Average 0 1 652 0 0 0 397 0 0 0 0 0 0 0 0 0 0
Hard 0 442 9,607 0 0 0 14,723 0 0 0 0 0 0 0 0 0 0
X-Hard 0 1 1,684 0 0 0 2,559 0 0 0 0 0 0 0 0 0 0
Total Waste Tons (000's) 0 703 14,463 0 0 0 23,263 0 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 59 573 0 0 0 1,270 0 0 0 0 0 0 0 0 0 0
Number of Holes Hard 0 197 4,286 0 0 0 6,568 0 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 3,487 33,848 0 0 0 75,000 0 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 11,640 253,102 0 0 0 387,879 0 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 18 32,316 0 0 0 49,119 0 0 0 0 0 0 0 0 0 0
Total Drill Footage - Waste 0 15,157 332,218 0 0 0 519,874 0 0 0 0 0 0 0 0 0 0
Total Contract Drilling Footage 0 18,753 441,600 0 0 0 625,549 0 0 0 0 0 0 0 0 0 0

Total Contract Drilling Meters 0 5,716 134,600 0 0 0 190,668 0 0 0 0 0 0 0 0 0 0
Contract Drilling Cost $/m - Excludes Fuel $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20
Contract Drilling Cost $/m - Fuel Component $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00
Contract Drilling Cost $/m $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20
Total Contract Drilling Cost $ - $ 109,744 $ 2,584,322 $ - $ - $ - $ 3,660,822 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
ALL FLEETS - EXCLUDING CONTRACT DRILLING

TOTAL DRILLING COSTS - ALL FLEETS ($) 0 7,116,522 6,984,853 5,289,680 5,035,222 6,058,989 6,206,023 5,596,143 2,627,972 2,240,291 2,183,927 1,803,696 862,518 1,844,113 2,139,388 2,075,608 501,496
$/TON 0.000 0.067 0.079 0.050 0.044 0.061 0.085 0.097 0.077 0.049 0.053 0.051 0.044 0.081 0.059 0.057 0.056
$/HR, OPERATING 0.00 234.97 227.27 257.43 287.65 268.25 250.61 242.76 283.33 379.52 374.35 371.15 336.37 285.47 335.28 342.19 454.09
$/Foot 0.00 3.17 3.51 2.96 2.77 3.28 3.86 4.26 3.78 3.06 3.16 3.13 3.00 3.96 3.37 3.31 3.02
$/Meter 0.00 10.41 11.50 9.70 9.07 10.75 12.66 13.97 12.40 10.03 10.38 10.26 9.83 12.98 11.05 10.85 9.91
ALL FLEETS - INCLUDING CONTRACT DRILLING

$/TON 0.000 0.067 0.088 0.050 0.044 0.061 0.097 0.097 0.077 0.049 0.053 0.051 0.044 0.081 0.059 0.057 0.056
$/Foot 0.00 3.20 3.93 2.96 2.77 3.28 4.42 4.26 3.78 3.06 3.16 3.13 3.00 3.96 3.37 3.31 3.02
$/Meter 0.00 10.49 12.90 9.70 9.07 10.75 14.49 13.97 12.40 10.03 10.38 10.26 9.83 12.98 11.05 10.85 9.91
aumento en gasto total 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Total Drill Feet - In House 0 2,242,376 1,992,079 1,788,375 1,821,005 1,849,675 1,608,554 1,314,312 695,313 732,984 690,250 576,526 287,921 466,236 635,210 627,681 165,943
Total Drill Feet - Contracted 0 18,753 441,600 0 0 0 625,549 0 0 0 0 0 0 0 0 0 0
Total Drill Meters/Month - Contracted 0 476 11,217 0 0 0 15,889 0 0 0 0 0 0 0 0 0 0
% Contract Drilling #DIV/0! 1% 18% 0% 0% 0% 28% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Total Drill Feet - 2,261,129 2,433,679 1,788,375 1,821,005 1,849,675 2,234,102 1,314,312 695,313 732,984 690,250 576,526 287,921 466,236 635,210 627,681 165,943
Total Drill Meters - 689,194 741,787 545,098 555,044 563,783 680,956 400,603 211,932 223,414 210,389 175,726 87,758 142,109 193,613 191,318 50,580
Candelaria Drill Meters 834,838 879,515 1,079,125 1,078,178 1,083,561 953,024 932,328 609,555 410,840 528,508 547,713 500,258 248,313 336,334 447,527 526,908 263,624
Variance (834,838) (190,320) (337,338) (533,080) (528,517) (389,241) (251,372) (208,952) (198,908) (305,093) (337,324) (324,532) (160,555) (194,225) (253,914) (335,591) (213,044)
% Variance -100.0% -21.6% -31.3% -49.4% -48.8% -40.8% -27.0% -34.3% -48.4% -57.7% -61.6% -64.9% -64.7% -57.7% -56.7% -63.7% -80.8%
Nominal Operating Days 365
Operating Hours Per Day (Considering Shift Change) 24
Candelaria Drilling and Blasting Parameters Fleet Calculated Avg. Utilization

Material Weak Average Hard X-Hard PV271 24%
Burden Waste, feet 30 23 20 23 PV351 21%
Burden Ore, feet 23 23 20 17 GARDNER DENVER 32%
Spacing Waste, feet 34 30 26 30 BE-49 34%
Spacing Ore, feet 30 30 26 23
Bench Height, feet 52 52 52 52
Density Waste, pcf 181 181 181 187
Density Ore, pcf 194 194 194 187
Metric Tons/hole Waste 4,397 2,974 2,242 3,077
Metric Tons/hole Ore 3,180 3,180 2,396 1,744
DMM3
Depth Ore, feet 59 59 59 59
Atlas Copco PV351
GARDNER DENVER
BE-49
file:///conversion/tmp/scratch/443328352.xls PV271's & 351's

DRILLING - Atlas Copco PV351 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Ore
Weak 0 3,153 2,452 391 1,456 1,861 2,007 1,003 2,158 1,624 1,140 862 5 564 4,034 4,089 4,368
Average 0 394 1,016 497 1,732 2,002 281 545 328 1,638 1,187 862 0 46 347 242 5
Hard 0 0 25 5 0 0 71 96 0 0 0 0 0 25 46 0 0
X-Hard 0 148 672 139 31 0 365 1,651 999 0 0 0 1 64 459 728 0
Total Tons (000's) 0 3,695 4,165 1,032 3,219 3,863 2,724 3,295 3,484 3,262 2,327 1,725 6 699 4,886 5,058 4,373
Number of Holes Weak 0 992 771 123 458 585 631 315 679 511 359 271 2 177 1,269 1,286 1,374
Drill Footage Weak 0 58,565 45,543 7,269 27,035 34,574 37,275 18,626 40,081 30,170 21,176 16,017 93 10,474 74,919 75,940 81,124
Drill Footage Average 0 7,310 18,866 9,224 32,173 37,175 5,221 10,116 6,083 30,418 22,052 16,017 0 854 6,444 4,498 92
Drill Footage Hard 0 0 616 115 0 0 1,747 2,373 0 0 0 0 0 626 1,143 0 0
Drill Footage X-Hard 0 5,028 22,770 4,713 1,064 0 12,369 55,928 33,819 0 0 0 22 2,152 15,552 24,647 0
Drill Hrs Weak 0 343 271 44 162 207 220 113 238 180 127 96 1 61 439 445 471
Drill Hrs Hard 0 0 11 2 0 0 31 42 0 0 0 0 0 11 20 0 0
Drill Hrs X-Hard 0 104 462 96 22 0 252 1,085 674 0 0 0 0 44 318 501 0
PV351 Penetration Rate (ft/hr) 0 136 94 91 119 124 102 65 82 125 124 125 116 113 116 106 172
Waste
Weak 0 5,119 2,023 3,267 11,853 6,473 2,991 1,414 1,249 3,270 1,408 1,507 2,652 570 7,368 7,757 131
Average 0 13 524 12 6 0 213 372 220 274 347 235 0 81 4,837 5,156 0
Hard 0 8,712 7,711 790 1,989 4,239 7,887 2,122 0 0 0 0 250 757 724 3 0
X-Hard 0 18 1,351 164 61 369 1,371 1,449 165 0 0 37 45 173 285 109 0
Total Tons (000's) 0 13,863 11,609 4,234 13,909 11,081 12,462 5,357 1,634 3,544 1,755 1,779 2,947 1,581 13,214 13,026 131
Number of Holes Weak 0 1,164 460 743 2,696 1,472 680 322 284 744 320 343 603 130 1,676 1,764 30
Number of Holes Average 0 4 176 4 2 0 71 125 74 92 117 79 0 27 1,626 1,734 0
Number of Holes Hard 0 3,887 3,440 353 887 1,891 3,519 947 0 0 0 0 111 337 323 1 0
Drill Footage Weak 0 68,756 27,168 43,884 159,204 86,937 40,179 18,988 16,773 43,916 18,907 20,237 35,622 7,662 98,956 104,189 1,755
Drill Footage Average 0 253 10,396 237 114 0 4,219 7,390 4,370 5,443 6,889 4,670 0 1,609 96,042 102,378 0
Drill Footage Hard 0 229,531 203,152 20,822 52,398 111,687 207,792 55,913 0 0 0 0 6,580 19,930 19,072 88 0
Drill Footage X-Hard 0 351 25,938 3,155 1,163 7,079 26,314 27,814 3,170 0 0 711 870 3,316 5,476 2,100 0
Drill Hrs Weak 0 364 145 228 822 455 214 101 87 226 98 105 184 41 519 545 9
Drill Hrs Hard 0 3,470 3,055 337 854 1,753 3,140 876 0 0 0 0 108 308 315 1 0
Drill Hrs X-Hard 0 7 529 65 24 146 537 556 65 0 0 15 18 68 113 43 0
PV351 Penetration Rate (ft/hr) 0 78 70 108 125 87 71 69 126 178 158 157 139 75 119 135 195
All Material Mined
PV351 Penetration Rate (ft/hr) - All 0 85 74 103 124 95 75 67 89 144 135 137 139 84 118 124 173
PV351 Penetration Rate (m/hr) 0.0 25.8 22.7 31.5 37.7 28.8 22.8 20.4 27.2 43.9 41.2 41.8 42.4 25.5 36.0 37.7 52.6
Available Drilling Hrs Initial Year (Drill 1) 0 4,192
Available Drilling Hrs Initial Year (Drill 2) 0 0
Drilling Hrs to Match 0 4,192
Drilling Hrs 0 4,366 4,765 866 2,208 2,934 4,487 2,946 1,168 764 511 420 311 557 2,689 2,538 481
Base Shift Efficiency (%) w/out ARDVARC 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67%
Shift Efficiency (%) w/ ARDVARC 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67% 99.67%
Operating Hours 0 4,380 4,780 869 2,215 2,944 4,502 2,956 1,172 767 513 422 312 559 2,698 2,546 482
Diesel (gal/hr) 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0
Diesel (gal) 0 135,781 148,191 26,946 68,675 91,260 139,556 91,623 36,328 23,763 15,902 13,074 9,664 17,329 83,633 78,940 14,945

DRILLS
Fleet 0 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Operating 0.0 0.5 0.5 0.1 0.3 0.3 0.5 0.3 0.1 0.1 0.1 0.0 0.0 0.1 0.3 0.3 0.1
Fleet Units 0.0 1.0 1.0 0.2 0.5 0.6 1.0 0.6 0.3 0.2 0.1 0.1 0.1 0.1 0.6 0.6 0.1
sensibilidad uso disponibilidad
COST RATES
Diesel ($/Gal) - L6 2.21 1.90 1.90 1.90 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81
sensibilidad precio combustible 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tires 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diesel 0.00 68.51 58.90 58.90 58.90 56.11 56.11 56.11 56.11 56.11 56.11 56.11 56.11 56.11 56.11 56.11 56.11
Lubricants 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07 2.07
PCR 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL $ 0 585,274 592,826 107,793 274,730 356,865 545,720 358,285 142,056 92,925 62,183 51,125 37,792 67,764 327,039 308,688 58,443
$/TON 0.000 0.033 0.038 0.020 0.016 0.024 0.036 0.041 0.028 0.014 0.015 0.015 0.013 0.030 0.018 0.017 0.013

Bits 12.25"
Bit Size 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25"
Life (feet) - Base 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802
Life (feet) - w/ ARDVARC 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183
Cost ($/Bit) 3,759 3,909 4,065 4,228 4,397 4,573 4,756 4,946 5,144 5,350 5,350 5,350 5,350 5,350 5,350 5,350 5,350
Bits 10.62"
Bit Size 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62"
Life (feet) - Base 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526
Cost ($/Bit) 3,307 3,439 3,577 3,720 3,869 4,023 4,184 4,352 4,526 4,707 4,707 4,707 4,707 4,707 4,707 4,707 4,707
Stems 12.25"
Life (feet) - Base 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693
Cost ($/Stem) 9,054 9,507 9,982 10,481 11,005 11,555 12,133 12,740 13,377 14,046 14,046 14,046 14,046 14,046 14,046 14,046 14,046
Stems 10.62"
Life (feet) - Base 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911
Cost ($/Stem) 6,958 7,167 7,382 7,603 7,831 8,066 8,308 8,557 8,814 9,079 9,079 9,079 9,079 9,079 9,079 9,079 9,079
Stabilizers 12.25"
Life (feet) - Base 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444
Cost ($/Stabilizer) 4,993 5,243 5,505 5,780 6,069 6,372 6,691 7,026 7,377 7,746 7,746 7,746 7,746 7,746 7,746 7,746 7,746
Stabilizers 10.62"
Life (feet) - Base 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193
Cost ($/Stabilizer) 3,129 3,285 3,450 3,622 3,803 3,993 4,193 4,403 4,623 4,854 4,854 4,854 4,854 4,854 4,854 4,854 4,854
Total Costs ($)

Bits 12.25" 0 64,256 26,403 44,359 167,359 95,048 45,685 22,452 20,628 56,172 24,184 25,884 45,563 9,800 126,572 133,265 2,245
Bits 10.62" 0 372,582 421,264 60,955 158,637 275,843 444,115 279,003 142,548 111,846 84,890 63,376 12,815 65,994 370,352 355,111 137,566
Stems 12.25" 0 8,001 3,320 5,630 21,447 12,297 5,967 2,961 2,747 7,551 3,251 3,479 6,125 1,317 17,014 17,914 302
Stems 10.62" 0 33,237 37,219 5,334 13,747 23,674 37,750 23,487 11,885 9,235 7,010 5,233 1,058 5,449 30,581 29,322 11,359
Stabilizers 12.25" 0 5,345 2,217 3,761 14,326 8,214 3,986 1,978 1,835 5,044 2,171 2,324 4,091 880 11,365 11,966 202
Stabilizers 10.62" 0 22,380 25,548 3,732 9,807 17,216 27,985 17,750 9,156 7,253 5,505 4,110 831 4,280 24,016 23,028 8,921
Total ($) 0 505,802 515,971 123,771 385,323 432,293 565,489 347,631 188,797 197,100 127,011 104,406 70,483 87,720 579,899 570,606 160,594
$/Ton 0.000 0.029 0.033 0.024 0.022 0.029 0.037 0.040 0.037 0.029 0.031 0.030 0.024 0.038 0.032 0.032 0.036
Atlas Copco PV351 DRILLING TOTAL $ 0 1,091,076 1,108,797 231,564 660,053 789,159 1,111,209 705,916 330,853 290,025 189,193 155,531 108,275 155,484 906,938 879,294 219,037
$/TON 0.000 0.062 0.070 0.044 0.039 0.053 0.073 0.082 0.065 0.043 0.046 0.044 0.037 0.068 0.050 0.049 0.049
$/HR, OPERATING 0.00 249.10 231.95 266.41 297.95 268.07 246.84 238.84 282.33 378.34 368.83 368.78 347.31 278.15 336.17 345.30 454.33
$/Foot 0.00 2.95 3.13 2.59 2.42 2.84 3.32 3.58 3.17 2.64 2.74 2.70 2.51 3.33 2.86 2.80 2.64
$/m 0.00 9.68 10.26 8.49 7.93 9.33 10.88 11.74 10.40 8.65 8.99 8.85 8.22 10.94 9.37 9.19 8.66
DRILLING - GARDNER DENVER 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Ore
Weak 0 3,509 4,114 1,565 3,202 1,241 3,077 0 0 0 0 0 0 0 0 0 0
Average 0 438 1,704 1,986 3,811 1,334 431 0 0 0 0 0 0 0 0 0 0
Hard 0 0 42 19 0 0 109 0 0 0 0 0 0 0 0 0 0
X-Hard 0 165 1,128 557 69 0 560 0 0 0 0 0 0 0 0 0 0
Total Ore Tons (000's) 0 4,112 6,988 4,127 7,082 2,575 4,177 0 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 1,104 1,294 492 1,007 390 968 0 0 0 0 0 0 0 0 0 0
Number of Holes Average 0 138 536 625 1,199 420 136 0 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 65,176 76,410 29,074 59,476 23,049 57,154 0 0 0 0 0 0 0 0 0 0
Drill Footage Average 0 8,135 31,653 36,895 70,782 24,783 8,005 0 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 0 1,033 460 0 0 2,678 0 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 5,595 38,203 18,854 2,340 0 18,966 0 0 0 0 0 0 0 0 0 0
Drill Hrs Weak 0 436 520 201 409 158 385 0 0 0 0 0 0 0 0 0 0
Drill Hrs Hard 0 0 20 9 0 0 51 0 0 0 0 0 0 0 0 0 0
Drill Hrs X-Hard 0 139 932 462 59 0 465 0 0 0 0 0 0 0 0 0 0
Gardner Denver Ore Penetration Rate (ft/hr) 0 119 81 80 109 113 88 0 0 0 0 0 0 0 0 0 0
Waste
Weak 0 5,697 3,394 13,069 26,078 4,315 4,587 0 0 0 0 0 0 0 0 0 0
Average 0 14 879 48 13 0 326 0 0 0 0 0 0 0 0 0 0
Hard 0 9,696 12,937 3,161 4,376 2,826 12,094 0 0 0 0 0 0 0 0 0 0
X-Hard 0 20 2,267 658 133 246 2,102 0 0 0 0 0 0 0 0 0 0
Total Waste Tons (000's) 0 15,428 19,477 16,936 30,599 7,387 19,109 0 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 1,296 772 2,972 5,931 981 1,043 0 0 0 0 0 0 0 0 0 0
Number of Holes Hard 0 4,326 5,772 1,410 1,952 1,261 5,395 0 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 76,518 45,582 175,536 350,248 57,958 61,607 0 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 255,443 340,843 83,289 115,275 74,458 318,615 0 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 391 43,518 12,621 2,559 4,719 40,347 0 0 0 0 0 0 0 0 0 0
Drill Hrs Weak 0 529 319 1,181 2,344 395 430 0 0 0 0 0 0 0 0 0 0
Drill Hrs Hard 0 4,334 5,749 1,526 2,128 1,317 5,402 0 0 0 0 0 0 0 0 0 0
Drill Hrs X-Hard 0 10 1,070 314 64 118 993 0 0 0 0 0 0 0 0 0 0
Gardner Denver Waste Penetration Rate (ft/hr) 0 68 61 90 103 75 62 0 0 0 0 0 0 0 0 0 0
All Material Mined
Gardner Denver Penetration Rate (ft/hr) - All 0 74 65 87 104 82 65 0 0 0 0 0 0 0 0 0 0
GD120 penetration rate (m/hr) 0.0 22.6 19.8 26.6 31.8 25.0 19.9 0.0
Rebuild Downtime (Effective Drilling Time Lost) Hrs 1,333 2,005 0 1,333 0 0 1,333 0 0 0 0 0 0 0 0 0 0
Drilling Hrs - BEFORE Rebuild Downtime 15,996 16,040 15,996 15,996 15,996 16,040 15,996 4,342 0 0 0 0 0 0 0 0 0
Drilling Hrs - AFTER Rebuild Downtime 14,663 14,035 15,996 14,663 15,996 16,040 14,663 4,342 0 0 0 0 0 0 0 0 0
Drilling Hrs 0 5,540 9,145 4,096 5,758 2,251 7,885 0 0 0 0 0 0 0 0 0 0
Check ( -1 < Variance < 1) 14,662 8,494 6,851 10,566 10,238 13,788 6,778 4,341 0 0 0 0 0 0 0 0 0
Operating Hours 0 5,558 9,175 4,110 5,777 2,259 7,911 0 0 0 0 0 0 0 0 0 0
Electricity (KWh) 0 3,101,471 5,119,202 2,293,003 3,223,205 1,260,287 4,413,898 0 0 0 0 0 0 0 0 0 0
DRILLS
Candelaria's GD Fleet 4 4 4 4 4 4 4 2 0 0 0 0 0 0 0 0 0
Fleet 0 2 3 2 2 1 2 0 0 0 0 0 0 0 0 0 0
Operating 0.0 0.6 1.0 0.5 0.7 0.3 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fleet Units 0.0 1.4 2.3 1.0 1.4 0.6 2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
COST RATES
Electricity ($/KWh) - L6 0.06059 0.05723 0.05723 0.05723 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622 0.05622
Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tires 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Electricity 0.00 33.81 31.93 31.93 31.93 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37 31.37
Lubricants 2.89 2.98 3.07 3.16 3.26 3.35 3.45 3.56 3.66 3.77 3.77 3.77 3.77 3.77 3.77 3.77 3.77
PCR 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL $ 0 690,570 1,137,957 516,702 736,538 290,805 1,033,198 0 0 0 0 0 0 0 0 0 0

$/TON 0.000 0.035 0.043 0.025 0.020 0.029 0.044 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

Bits 12.25"
Bit Size 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25"
Life (feet) 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802
Cost ($/Bit) 3,759 3,909 4,065 4,228 4,397 4,573 4,756 4,946 5,144 5,350 5,350 5,350 5,350 5,350 5,350 5,350 5,350
Bits 10.62"
Bit Size 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62"
Life (feet) 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526
Cost ($/Bit) 3,307 3,439 3,577 3,720 3,869 4,023 4,184 4,352 4,526 4,707 4,707 4,707 4,707 4,707 4,707 4,707 4,707
Stems 12.25"
Life (feet) 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693
Cost ($/Stem) 9,054 9,507 9,982 10,481 11,005 11,555 12,133 12,740 13,377 14,046 14,046 14,046 14,046 14,046 14,046 14,046 14,046
Stems 10.62"
Life (feet) 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911
Cost ($/Stem) 6,958 7,167 7,382 7,603 7,831 8,066 8,308 8,557 8,814 9,079 9,079 9,079 9,079 9,079 9,079 9,079 9,079
Stabilizers 12.25"
Life (feet) 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444
Cost ($/Stabilizer) 4,993 5,243 5,505 5,780 6,069 6,372 6,691 7,026 7,377 7,746 7,746 7,746 7,746 7,746 7,746 7,746 7,746
Stabilizers 10.62"
Life (feet) 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193
Cost ($/Stabilizer) 3,129 3,285 3,450 3,622 3,803 3,993 4,193 4,403 4,623 4,854 4,854 4,854 4,854 4,854 4,854 4,854 4,854
Total Costs ($)

Bits 12.25" 0 78,661 48,729 195,179 405,010 69,702 77,056 0 0 0 0 0 0 0 0 0 0
Bits 10.62" 0 456,107 777,465 268,203 383,900 202,285 749,075 0 0 0 0 0 0 0 0 0 0
Stems 12.25" 0 8,905 5,570 22,521 47,184 8,198 9,150 0 0 0 0 0 0 0 0 0 0
Stems 10.62" 0 36,989 62,444 21,334 30,244 15,783 57,883 0 0 0 0 0 0 0 0 0 0
Stabilizers 12.25" 0 5,948 3,720 15,044 31,517 5,476 6,112 0 0 0 0 0 0 0 0 0 0
Stabilizers 10.62" 0 24,907 42,863 14,929 21,574 11,477 42,910 0 0 0 0 0 0 0 0 0 0
Total ($) 0 611,517 940,792 537,210 919,430 312,922 942,186 0 0 0 0 0 0 0 0 0 0
$/Ton 0.000 0.031 0.036 0.026 0.024 0.031 0.040 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
GARDNER DENVER DRILLING TOTAL $ 0 1,302,088 2,078,749 1,053,912 1,655,967 603,726 1,975,384 0 0 0 0 0 0 0 0 0 0
$/TON 0.000 0.067 0.079 0.050 0.044 0.061 0.085 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
$/HR, OPERATING 0.00 234.25 226.58 256.46 286.67 267.29 249.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
$/Foot 0.00 3.16 3.50 2.95 2.76 3.26 3.84 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
$/m 0.00 10.38 11.47 9.66 9.04 10.71 12.61 0.00
DRILLING - BE-49 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Ore
Weak 0 11,075 8,418 5,479 3,881 7,446 6,690 4,680 10,071 7,580 9,121 6,899 25 4,512 0 0 0
Average 0 1,382 3,487 6,952 4,619 8,006 937 2,542 1,528 7,643 9,498 6,899 0 368 0 0 0
Hard 0 0 86 65 0 0 236 449 0 0 0 0 0 203 0 0 0
X-Hard 0 521 2,308 1,948 84 0 1,217 7,706 4,660 0 0 0 3 508 0 0 0
Total Tons (000's) 0 12,978 14,299 14,445 8,584 15,452 9,080 15,377 16,259 15,223 18,619 13,798 28 5,591 0 0 0
Number of Holes Weak 0 3,483 2,648 1,723 1,221 2,342 2,104 1,472 3,167 2,384 2,869 2,170 8 1,419 0 0 0
Number of Holes Average 0 435 1,097 2,187 1,453 2,518 295 799 481 2,404 2,987 2,170 0 116 0 0 0
Number of Holes X-Hard 0 299 1,324 1,117 48 0 698 4,420 2,672 0 0 0 2 292 0 0 0
Drill Footage Weak 0 205,696 156,350 101,759 72,092 138,294 124,249 86,920 187,046 140,793 169,410 128,139 466 83,796 0 0 0
Drill Footage Average 0 25,674 64,769 129,133 85,796 148,701 17,403 47,207 28,387 141,953 176,418 128,139 0 6,832 0 0 0
Drill Footage Hard 0 0 2,113 1,610 0 0 5,822 11,073 0 0 0 0 0 5,008 0 0 0
Drill Footage X-Hard 0 17,658 78,171 65,988 2,837 0 41,230 260,998 157,822 0 0 0 110 17,218 0 0 0
Drill Hrs Weak 0 1,203 929 612 432 827 732 525 1,109 841 1,012 765 3 491 0 0 0
Drill Hrs Average 0 244 610 1,199 794 1,377 165 447 270 1,316 1,635 1,188 0 65 0 0 0
Drill Hrs Hard 0 0 35 27 0 0 97 184 0 0 0 0 0 83 0 0 0
Drill Hrs X-Hard 0 380 1,656 1,403 61 0 877 5,278 3,285 0 0 0 2 368 0 0 0
Waste
Weak 0 17,980 6,944 45,743 31,609 25,891 9,972 6,597 5,828 15,259 11,262 12,054 13,261 4,564 0 0 0
Average 0 45 1,798 167 15 0 708 1,737 1,027 1,279 2,776 1,882 0 648 0 0 0
Hard 0 30,600 26,472 11,065 5,304 16,957 26,291 9,904 0 0 0 0 1,249 6,052 0 0 0
X-Hard 0 64 4,640 2,302 162 1,475 4,570 6,763 771 0 0 296 227 1,382 0 0 0
Total Tons (000's) 0 48,689 39,854 59,276 37,090 44,324 41,541 25,001 7,626 16,538 14,038 14,232 14,737 12,646 0 0 0
Number of Holes Weak 0 4,089 1,579 10,403 7,189 5,889 2,268 1,500 1,325 3,470 2,561 2,741 3,016 1,038 0 0 0

Number of Holes Hard 0 13,651 11,810 4,936 2,366 7,565 11,729 4,418 0 0 0 0 557 2,700 0 0 0
Number of Holes X-Hard 0 21 1,508 748 53 479 1,485 2,198 251 0 0 96 74 449 0 0 0
Drill Footage Weak 0 241,491 93,269 614,376 424,544 347,746 133,929 88,609 78,274 204,941 151,259 161,893 178,112 61,295 0 0 0
Drill Footage Average 0 889 35,690 3,314 305 0 14,065 34,485 20,395 25,401 55,114 37,361 0 12,871 0 0 0
Drill Footage Hard 0 806,179 697,430 291,510 139,727 446,750 692,641 260,928 0 0 0 0 32,900 159,443 0 0 0
Drill Footage X-Hard 0 1,234 89,047 44,173 3,102 28,314 87,712 129,799 14,794 0 0 5,688 4,352 26,528 0 0 0
Drill Hrs Weak 0 1,453 568 3,611 2,484 2,066 812 537 460 1,194 887 947 1,039 369 0 0 0
Drill Hrs Hard 0 11,993 10,321 4,637 2,238 6,894 10,297 4,018 0 0 0 0 532 2,425 0 0 0
Drill Hrs X-Hard 0 27 1,898 952 67 611 1,871 2,708 316 0 0 123 94 566 0 0 0
All Material Mined
BE-49 Penetration Rate (ft/hr) - All 0 85 74 100 120 94 75 66 86 143 136 137 129 83 0 0 0
BE49 penetration rate (m/hr) 0.0 25.9 22.7 30.6 36.5 28.7 22.7 20.0 26.3 43.5 41.5 41.6 39.4 25.3 0.0 0.0 0.0
Rebuild Downtime (Effective Drilling Time Lost) Hrs 666 1,337 666 2,666 0 0 1,999 666 0 0 2,248 0 0 0 0 0 0
Drilling Hrs - BEFORE Rebuild Downtime 0 16,036 15,992 15,993 15,996 16,036 15,996 15,996 2,070 353 0 1,253 1,811 242 1,502 1,908 0
Drilling Hrs - AFTER Rebuild Downtime 0 14,699 15,325 13,327 15,996 16,036 13,996 15,329 2,070 353 -2,248 1,253 1,811 242 1,502 1,908 0
Drilling Hrs 0 15,309 16,356 12,471 6,078 11,775 14,985 14,025 5,634 3,593 4,055 3,378 1,670 4,491 0 0 0
Check ( -1 < Variance < 1) 0 -610 -1,031 856 9,917 4,262 -988 1,305 -3,563 -3,240 -6,303 -2,124 141 -4,249 1,502 1,907 0
Operating Hours 0 15,359 16,410 12,512 6,098 11,814 15,034 14,071 5,652 3,605 4,068 3,389 1,676 4,505 0 0 0
Electricity (KWh) 0 8,945,402 9,557,615 7,287,148 3,551,599 6,880,410 8,756,176 8,195,251 3,291,998 2,099,319 2,369,474 1,973,800 975,839 2,623,992 0 0 0

DRILLS
Candelaria's BE-49 Fleet 4 4 4 4 4 4 4 4 1 1 1 1 1 1 1 1 0
Fleet Required 0 4 5 4 2 3 4 4 2 1 2 2 1 2 0 0 0
Operating 0.0 1.7 1.9 1.4 0.7 1.3 1.7 1.6 0.6 0.4 0.5 0.4 0.2 0.5 0.0 0.0 0.0
Fleet Units 0.0 3.8 4.1 3.1 1.5 2.9 3.7 3.5 1.6 1.0 1.2 1.0 0.5 1.4 0.0 0.0 0.0
COST RATES
Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tires 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Electricity 35.29 35.29 33.33 33.33 33.33 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74 32.74
Lubricants 2.89 2.98 3.07 3.16 3.26 3.35 3.45 3.56 3.66 3.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00
PCR 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL $ 0 1,835,149 1,953,443 1,508,647 745,057 1,455,780 1,877,978 1,782,397 726,110 469,701 514,807 428,841 212,017 570,105 0 0 0
$/TON 0.000 0.030 0.036 0.020 0.016 0.024 0.037 0.044 0.030 0.015 0.016 0.015 0.014 0.031 0.000 0.000 0.000

Bits 12.25"
Bit Size 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25" 12.25"
Life (feet) 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802 3,802
Life w/ ARDVARC (feet) 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183 4,183
Cost ($/Bit) 3,759 3,909 4,065 4,228 4,397 4,573 4,756 4,946 5,144 5,350 5,350 5,350 5,350 5,350 5,350 5,350 5,350
Bits 10.62"
Bit Size 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62" 10.62"
Life (feet) 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526 2,526
Cost ($/Bit) 3,307 3,439 3,577 3,720 3,869 4,023 4,184 4,352 4,526 4,707 4,707 4,707 4,707 4,707 4,707 4,707 4,707
Stems 12.25"
Life (feet) 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693 81,693
Cost ($/Stem) 9,054 9,507 9,982 10,481 11,005 11,555 12,133 12,740 13,377 14,046 14,046 14,046 14,046 14,046 14,046 14,046 14,046
Stems 10.62"
Life (feet) 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911 64,911
Cost ($/Stem) 6,958 7,167 7,382 7,603 7,831 8,066 8,308 8,557 8,814 9,079 9,079 9,079 9,079 9,079 9,079 9,079 9,079
Stabilizers 12.25"
Life (feet) 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444 67,444
Cost ($/Stabilizer) 4,993 5,243 5,505 5,780 6,069 6,372 6,691 7,026 7,377 7,746 7,746 7,746 7,746 7,746 7,746 7,746 7,746
Stabilizers 10.62"
Life (feet) 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193 44,193
Cost ($/Stabilizer) 3,129 3,285 3,450 3,622 3,803 3,993 4,193 4,403 4,623 4,854 4,854 4,854 4,854 4,854 4,854 4,854 4,854
Total Costs ($)

Bits 12.25" 0 225,687 90,644 621,025 446,292 380,193 152,285 104,778 96,263 262,134 193,470 207,073 227,817 78,400 0 0 0
Bits 10.62" 0 1,308,614 1,446,218 853,372 423,031 1,103,373 1,480,385 1,302,014 665,222 521,946 679,123 507,006 64,075 527,954 0 0 0
Stems 12.25" 0 28,103 11,397 78,824 57,192 49,189 19,892 13,818 12,817 35,236 26,006 27,835 30,623 10,539 0 0 0
Stems 10.62" 0 116,738 127,773 74,670 36,659 94,698 125,833 109,608 55,462 43,098 56,076 41,865 5,291 43,594 0 0 0
Stabilizers 12.25" 0 18,772 7,613 52,653 38,203 32,857 13,287 9,230 8,562 23,537 17,372 18,593 20,456 7,040 0 0 0
Stabilizers 10.62" 0 78,606 87,707 52,251 26,151 68,864 93,282 82,831 42,727 33,847 44,039 32,878 4,155 34,236 0 0 0
Total ($) 0 1,776,519 1,771,351 1,732,795 1,027,528 1,729,173 1,884,963 1,622,279 881,053 919,798 1,016,086 835,250 352,417 701,763 0 0 0
$/Ton 0.000 0.029 0.033 0.024 0.022 0.029 0.037 0.040 0.037 0.029 0.031 0.030 0.024 0.038 0.000 0.000 0.000
BE-49 DRILLING TOTAL $ 0 3,611,668 3,724,795 3,241,442 1,772,585 3,184,952 3,762,941 3,404,676 1,607,163 1,389,499 1,530,894 1,264,090 564,434 1,271,868 0 0 0
$/TON 0.000 0.059 0.069 0.044 0.039 0.053 0.074 0.084 0.067 0.044 0.047 0.045 0.038 0.070 0.000 0.000 0.000
$/HR, OPERATING 0.00 235.15 226.98 259.07 290.68 269.60 250.29 241.96 284.34 385.49 376.29 373.00 336.87 282.30 0.00 0.00 0.00
$/Foot 0.00 2.78 3.06 2.59 2.43 2.87 3.37 3.70 3.30 2.71 2.77 2.74 2.61 3.41 0.00 0.00 0.00
$/m 0.00 9.12 10.04 8.49 7.98 9.41 11.05 12.14 10.83 8.88 9.09 8.99 8.57 11.18 0.00 0.00 0.00
CONTRACT DRILLING 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Ore

Weak 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Average 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
X-Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Ore Tons (000's) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage Average 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Drill Footage - Ore 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Waste
Weak 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Average 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
X-Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Waste Tons (000's) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Number of Holes Weak 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage Weak 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage Average 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Drill Footage X-Hard 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Drill Footage - Waste 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Contract Drilling Footage 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Total Contract Drilling Meters 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Contract Drilling Cost $/m - Excludes Fuel $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20 $ 15.20
Contract Drilling Cost $/m - Fuel Component $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00
Contract Drilling Cost $/m $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20 $ 19.20
Total Contract Drilling Cost $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
ALL FLEETS - EXCLUDING CONTRACT DRILLING

$/TON 0.000 0.061 0.072 0.045 0.041 0.054 0.077 0.084 0.067 0.044 0.047 0.045 0.038 0.070 0.052 0.051 0.051
$/HR, OPERATING 0.00 234.18 223.33 255.77 280.75 259.31 243.31 234.00 273.33 364.52 363.48 360.37 326.47 274.90 292.23 298.63 372.93
$/Foot 0.00 2.91 3.20 2.67 2.57 2.93 3.49 3.69 3.30 2.72 2.79 2.75 2.62 3.42 2.97 2.92 2.77
$/Meter 0.00 9.54 10.51 8.77 8.42 9.63 11.44 12.12 10.83 8.92 9.14 9.03 8.59 11.21 9.76 9.58 9.09
ALL FLEETS - INCLUDING CONTRACT DRILLING

$/TON 0.000 0.061 0.072 0.045 0.041 0.054 0.077 0.084 0.067 0.044 0.047 0.045 0.038 0.070 0.052 0.051 0.051
$/Foot 0.00 2.91 3.20 2.67 2.57 2.93 3.49 3.69 3.30 2.72 2.79 2.75 2.62 3.42 2.97 2.92 2.77
$/Meter 0.00 9.54 10.51 8.77 8.42 9.63 11.44 12.12 10.83 8.92 9.14 9.03 8.59 11.21 9.76 9.58 9.09
Aumento del gasto 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Tonnage Check
Weak Ore 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Total Drill Feet - In House 0 2,261,129 2,433,679 1,788,375 1,821,005 1,849,675 2,234,102 1,314,312 695,313 732,984 690,250 576,526 287,921 466,236 635,210 627,681 165,943
Total Drill Feet - Contracted 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Drill Meters/Month - Contracted 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
% Contract Drilling #DIV/0! 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Total Drill Feet - 2,261,129 2,433,679 1,788,375 1,821,005 1,849,675 2,234,102 1,314,312 695,313 732,984 690,250 576,526 287,921 466,236 635,210 627,681 165,943
Total Drill Meters - 689,194 741,787 545,098 555,044 563,783 680,956 400,603 211,932 223,414 210,389 175,726 87,758 142,109 193,613 191,318 50,580
Candelaria Drill Meters 834,838 879,515 1,079,125 1,078,178 1,083,561 953,024 932,328 609,555 410,840 528,508 547,713 500,258 248,313 336,334 447,527 526,908 263,624
Variance (834,838) (190,320) (337,338) (533,080) (528,517) (389,241) (251,372) (208,952) (198,908) (305,093) (337,324) (324,532) (160,555) (194,225) (253,914) (335,591) (213,044)
% Variance -100.0% -21.6% -31.3% -49.4% -48.8% -40.8% -27.0% -34.3% -48.4% -57.7% -61.6% -64.9% -64.7% -57.7% -56.7% -63.7% -80.8%

Life (hrs) Capex ($K) - L6 cespinoz:
Gardner Denver 80,000 ? <- Available for Rebuild ONLY
precio en Chile + K$70 en repuestos
BE-49 80,000 $ 5,356 Eric Roller:
Atlas Copco PV351 80,000 $ 3,880 Note this quote is higher than L6 released in Phoenix a few months
DMM3 80,000 $ 2,800 ago ($3,502K) which is supposedly delivered and commissioned.
As Is Case
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
GARDNER DENVER
Gardner Denver Fleet Size 0 4 4 2 2 2 3 2 0 0 0 0 0 0 0 0 0
Fleet Operating Hours 0 15,575 15,394 6,164 5,251 6,776 8,598 7,008 0 0 0 0 0 0 0 0 0
Operating Hrs/Drill 0 0 3894 3848 3082 2626 3388 2866 3504 0 0 0 0 0 0 0 0 0
Drill 1
Cumulative Meter Hr Estimate 67,534 67,534 67,534 3,894 7,742 10,824 13,450 16,838 19,704 23,208 23,208 23,208 23,208 23,208 23,208 23,208 23,208 23,208 23,208
Rebuild Cost ($K) $ -
Salvage ($K) $ 500 $ -
Drill 2
Cumulative Meter Hr Estimate 75,016 75,016 0 3,894 7,742 10,824 13,450 16,838 19,704 23,208 23,208 23,208 23,208 23,208 23,208 23,208 23,208 23,208 23,208
Rebuild Cost ($K) $ - $ 450
Salvage ($K) $ 339 $ -
Drill 3
Rebuild Cost ($K) $ 450 $ 630 $ 882
Salvage ($K) $ 1,806
Drill 5
Salvage ($K) $ 319
Total GD Rebuild Costs ($K) $ - $ 450 $ 900 $ - $ 630 $ - $ - $ 882 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

Total GD Salvage ($K) $ - $ - $ - $ 500 $ - $ - $ 339 $ - $ 319 $ 1,806 $ - $ - $ - $ - $ - $ - $ - $ -
Downtime Caused by Rebuilds (hrs) 1,999 1,999 0 666 0 0 666 0 0 0 0 0 0 0 0 0 0
BE-49
BE-49 Fleet Size 0 4 4 4 4 4 5 4 3 2 2 2 1 2 2 2 1
Fleet Operating Hours 0 14,711 15,339 14,383 12,253 15,811 16,165 16,044 9,275 5,903 5,834 4,860 2,564 6,460 6,381 6,066 1,104
Drill 6 (R10)
Rebuild Cost ($K) $ 450 $ 630 $ 882 $ 1,235
Drill 7 (R11)
Rebuild Cost ($K) $ - $ 630 $ 882 $ -
Salvage ($K) $ 1,436 $ -
Drill 8 (R12)
Rebuild Cost ($K) $ - $ 630 $ 882 $ 1,235
Salvage ($K) $ - $ 2,647
Drill 9 (R14)
Rebuild Cost ($K) $ - $ 630 $ 882 $ 1,235
Total BE-49 Rebuild Costs ($K) $ - $ 450 $ - $ - $ 2,520 $ - $ - $ 882 $ 2,646 $ - $ - $ 3,705 $ - $ - $ - $ - $ - $ -
TotalBE-49 Salvage ($K) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1,436 $ - $ - $ 2,647 $ - $ - $ - $ - $ 4,616
Downtime Caused by Rebuilds (hrs) 666 1,337 666 2,666 0 0 666 1,999 0 0 2,248 0 0 0 0 0 0
file:///conversion/tmp/scratch/443328352.xls Replacement Schedules

Proposed Case
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
DMM3
DMM3 Fleet Size 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Fleet Operating Hours 0 2,776 4,547 1,206 2,566 3,917 4,568 3,724 1,570 1,099 708 594 323 731 3,765 3,593 751
Cumulative Meter Hrs 0 0 0 2776 7323 8529 11094 15011 19579 23303 24873 25972 26681 27275 27598 28329 32094 35687 36438
Drill Purchases 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Capital Required ($K) - Base $ - $ - $ 2,800 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Captial Required ($K) w/ ARDVARC $ - $ - $ 3,277 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Salvage Value ($K) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
PV351
PV351 Fleet Size 0 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Fleet Operating Hours 0 4,380 4,780 869 2,215 2,944 4,502 2,956 1,172 767 513 422 312 559 2,698 2,546 482
Cumulative Meter Hrs 0 0 0 4380 6770 7639 9855 12799 17300 20256 21428 22194 22707 23129 23441 24000 26698 29244 29726
Replacements Required 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Capital Required ($K) - Base $ - $ - $ 3,880 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Captial Required ($K) w/ ARDVARC $ - $ - $ 4,362 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Salvage Value ($K) $ 2,438
GARDNER DENVER
Gardner Denver Fleet Size 0 2 3 2 2 1 2 0 0 0 0 0 0 0 0 0 0
Fleet Operating Hours 0 5,558 9,175 4,110 5,777 2,259 7,911 0 0 0 0 0 0 0 0 0 0
Operating Hrs/Drill 0 2779 3058 2055 2888 2259 3955 0 0 0 0 0 0 0 0 0 0
Drill 1
Rebuild Cost ($K) $ -
Salvage ($K) $ 500 $ -
Drill 2
Rebuild Cost ($K) $ 450 $ - $ -
Salvage ($K) $ - $ 339
Drill 3
Rebuild Cost ($K) $ 450 $ 630 $ 882
Salvage ($K) $ - $ 1,806
Drill 5
Salvage ($K) $ - $ 319
Total GD Rebuild Costs ($K) $ - $ 450 $ 900 $ - $ 630 $ - $ - $ 882 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

Total GD Salvage ($K) $ - $ - $ - $ 500 $ - $ - $ 339 $ - $ 319 $ 1,806 $ - $ - $ - $ - $ - $ - $ - $ -
Downtime Caused by Rebuilds (hrs) 1,333 2,005 0 1,333 0 0 1,333 0 0 0 0 0 0 0 0 0 0
BE-49
BE-49 Fleet Size 4.00 4.0 5.0 4.0 2.0 3.0 4.0 4.0 2 1 2 2 1 2 0 0 0
Fleet Operating Hours 0 15,359 16,410 12,512 6,098 11,814 15,034 14,071 5,652 3,605 4,068 3,389 1,676 4,505 0 0 0
Operating Hrs/Drill 0 3840 3282 3128 3049 3938 3759 3518 2826 3605 2034 1694 1676 2253 0 0 0
Drill 6 (R10)
Cumulative Meter Hr Estimate 49,468 49,468 0 3,840 7,122 3,082 6,131 10,069 2,866 6,384 9,210 12,815 0 1,694 3,370 5,623 5,623 5,623 5,623
Rebuild Cost ($K) $ 450 $ 630 $ 882 $ 1,235
Salvage ($K) $ - $ 2,028
Drill 7 (R11)
Cumulative Meter Hr Estimate 55,810 55,810 55,810 3,894 7,176 3,082 6,131 10,069 2,866 6,384 9,210 12,815 0 1,694 3,370 5,623 5,623 5,623 5,623
Rebuild Cost ($K) $ - $ 630 $ 882 $ 1,235
Salvage ($K) $ - $ 2,028
Drill 8 (R12)
Rebuild Cost ($K) $ - $ 630 $ 882 $ 1,235
Salvage ($K) $ - $ 1,148
Drill 9 (R14)
Rebuild Cost ($K) $ - $ 630 $ 882 $ 1,235
Salvage ($K) $ -
Total BE-49 Rebuild Costs ($K) $ - $ 450 $ - $ - $ 2,520 $ - $ - $ 2,646 $ 882 $ - $ - $ 4,940 $ - $ - $ - $ - $ - $ -
TotalBE-49 Salvage ($K) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 4,056 $ - $ - $ 1,148
BE-49 Fleet ARDVARC Cost $ 1,600
Downtime Caused by Rebuilds (hrs) 666 1,337 666 2,666 0 0 1,999 666 0 0 2,248 0 0 0 0 0 0
file:///conversion/tmp/scratch/443328352.xls Replacement Schedules

ARDVARC
Include ARDVARC in Drill Capex?
One touch drilling

YES 1
Auto level $K
Data Collection
Path Finding $ 296
Installation $ 84
Novariant Reciever $ 46 Terralite System Cost $ -

Installation Cost $ -
Full Sensor Package $ - Total Terralite System Cost $ -
ARDVARC Per Unit (Diesel Drill) $ 477 Annual Maintenance Cost $ -
Control Center $ - Electric Drill ARDVARC

$ 188
Electric Drill Install
$ 58
Thermal Pit Parameter Cameras $ - Novariant Reciever
$ 46
Candelaria Location Adjustment
$ 58
ARDVARC Per Unit (Electric Drill) $K $ 350
ARDVARC Per Unit (Electric Drill) if Seimens Drive Upgrade Required $K $ 400
Novariant
Part Unit Descripti
Description Number Price Qty Total on
SYSTEM COMPONENTS
For one
installation,
single mine
location.
Non-
Terralite XPS Site License 100-0023-02 $150,000 1 $150,000 recurring.
Network of
six (6)
TX100
Terralite
XPS
Transmit
Stations
(“Constellati
on”)
required per
operational
area.
Includes
standard
Power/Interf
ace cables.
Power
TX100 Terralite XPS Transmit Station w/Internal Radio supplies not
Modem 170-0007-02 $96,000 6 $576,000 included.
1 required
per system.
Includes PC
software for
basic remote
monitoring
of
infrastructur
e, standard
Power/Interf
ace cable.
PC/Power
supplies not
included.
TCP/IP
Radio
connectivity
required for
IX100 Reference/Integrity Monitor Station w/Internal system
Radio Modem 170-0006-02 $105,250 1 $105,250 diagnostics.
Ex-Factory,
Fremont,
Subtotal Terralite XPS Infrastructure. $1,100,000 California
Discount of
$ 75,000 per
system.
Shipment
two weeks
after receipt
of P.O. 4
shipments in
(Dec. 1,
Special Discount Order
Pricing Increases received
for 2009 in December
thru 2011 will be tied2007 forP.P.I
to the Individual Purchase.
of the Department $756,250 2007).
of Labor at the time of order placement, Code WPU 1178.
Novariant
Part Unit Descripti
Description Number Price Qty Total on
TERRALITE XPS INFRASTRUCTURE
Does not
include
transportatio
n to and
inside the
mine.
Labor is
quoted on
the next
page, item
Terralite and Base Station Stands N/A $7,500 7 $52,500 (B).
Generators
for
Indonesia as
required for
site
Autonomous Power Supply Generators conditions.
Power for Terralites N/A $20,000 7 $140,000
Solar panels
with
Batteries
Autonomous Power and Storage
Solar panels with Battery storage $10,000 7 $70,000 Box.
Recommended Stock Inventory for Freeport Grasberg.
TX 100 Terralites $96,000 1 $96,000
IX 100 Base Station $105,250 1 $105,250
AX100 Antennas $4,111 12 $49,332
Antenna cable kit $580 12 $6,960
Pricing Ex
Factory
Fremont,
Total Recommended Stock for Grasberg $257,542 California
file:///conversion/tmp/scratch/443328352.xls ARDVARC Package

Novariant Installation Details
Lump Sum
Indonesia $150,000 $150,000 Fee.
Includes
logistics,
working
garment and
safety
equipment.
Does not
include food
or lodging or
Travel costs.
Cost for
Grasberg
including
finalization
of Site
Survey field
Chile $75,000 $75,000 verification.
Peru $80,000 $80,000
(A) On-Site installation of Novariant System and Training USA $60,000 1 $60,000
Lump Sum
Indonesia Fee.
Includes
logistics,
working
garment and
safety
equipment.
Does not
include food
or lodging or
Chile Travel costs.
Peru
(B) Stand Installation USA Included 1 Included
Lump Sum
Indonesia Fee.
Includes
logistics,
working
garment and
safety
equipment.
Does not
include food
or lodging or
Chile Travel costs.
Peru
(C) Power Installation USA Included 1 Included
Annual
Mine Site Price Per Cost Descripti
Description Location Quarter Per System on
TERRALITE XPS INFRASTURES MAINTENANCE AND SUPPORT PROGRAMS
Indonesia
Chile $15,000
Peru 12,000
USA 12,000
One week
10,000
training at
Basic on site Training N/A installation
for service
and
maintenance
Indonesia 45,000 $180,000
II. Total Maintenance and Service Agreement for local Mine-
Freeport Grasberg site facility.
Maintenance
No. of and Service
Systems agreement
minimum 36
1 - $ 37,800 month
2-$ contract
Chile 68,040 period,
Novariant
stocks all
Peru 3 - $ 95,256 $151,200 spare parts
for service
USA 4 - $133,356 272,160 and
III. Total Maintenance and Service Agreement with maintenance
381,024
sharing of a technician between site for duration of in Novariant
contract period. 533,454 local facility.
file:///conversion/tmp/scratch/443328352.xls ARDVARC Package

Datos de costo perforadoras - Candelaria
GD-120 BE-49R
2006 Jun-07-YTD 2006 Jun-07-YTD Avg-2007
# equipos 4 4 4 4
Disponibilidad (%) 81.6% 84.2% 82.1% 83.5%
Uso Disponib. 49.4% 53.6% 56.1% 56.7% 55.15%
Hrs disponibles 28,593 14,631 28,768 14,509
Hrs efectivas operación 14,125 7,842 16,139 8,227
# turnos efectivos operación 1,766 980 2,017 1,028
Costos perforadoras -Total 2006 Jun-07-YTD
Costo Operación (KU$) $6,750 $3,430
Costo Mantención (KU$) $3,746 $1,500
costo total $10,496 $4,930
Shift Eficiency shift A Shift B Shift C total
Total hrs 8 8 8 24
shift change 0.25 0.3333333333 0.333333

blasting 0 2 0
effective time 7.75 5.6666666667 7.666667 21.08333 87.85%
Shift Eficiency 87.85%
Shift Eficiency w/ ARDVARC shift A Shift B Shift C total
Total hrs 8 8 8 24
shift change
blasting 0 2 0
effective time 8 6 8 22 91.67%
Shift Eficiency w/ ARDVARC 91.67%

MINA KWH 2006
ENERO FEBRERO MARZO ABRIL MAYO JUNIO

KWH KWH KWH KWH KWH KWH
PALA 1 9,585 131,043 139,418 94,894 117,727 95,869
PALA 10 226,764 207,170 357,918 332,685 275,893 302,816
PALA 11 373,714 202,144 4,650 275,499 271,712 233,205
PALA 12 241,225 247,296 319,649 343,444 316,942 366,670
PALA 20 483,793 606,582 456,005 424,482 478,565 406,803
PALA 21 390,165 191,990 420,869 402,122 420,957 346,904
PALA 22 312,688 464,298 692,430 625,637 297,082 453,541
GD PERFORADORA 1 2380.8 126,420 173,600 194,460 47,460 123,900 174,300
GD PERFORADORA 2 0.61134454 168,840 152,040 177,660 157,920 218,400 175,980
GD PERFORADORA 3 193,620 128,100 179,340 183,960 178,080 184,800
GD PERFORADORA 4 0 0 0 0 0 0
GD PERFORADORA 5 199,920 103,320 161,280 169,260 207,480 207,900
BE PERFORADORA 10 184,380 127,260 107,520 65,940 145,320 130,620
BE PERFORADORA 11 189,000 152,040 209,580 168,840 215,040 179,760
BE PERFORADORA 12 197,820 120,120 205,800 178,920 227,640 190,680
BE PERFORADORA 14 195,300 196,140 210,420 168,840 162,960 171,360
FILTROS ARMONICOS MINA 12,000 12,000 12,000 12,000 24,000 12,000
VARIOS 100,766 100,766 119,001 107,245 134,000 100,792
PERDIDAS MINA 52,215 48,014 57,457 54,432 27,706 54,068
TUNEL NORTE 318,000 298,800 319,200 316,800 372,000 355,200
TOTAL MENSUAL (KWH) 3,976,215 3,662,723 4,344,657 4,130,380 4,215,404 4,143,268
193.0902 265.1515 297.0125 72.489 189.2412 266.2207

2317.082
H 2006
JULIO AGOSTO SEPTIEMBRE OCTUBRE NOVIEMBRE DICIEMBRE TOTAL ANUAL PROMEDIO ANUAL
KWH KWH KWH KWH KWH KWH KWH x EQUIPO KWH x EQUIPO
173,053 46,357 104,821 158,052 118,732 60,381 1,249,932 104,161
248,783 307,081 360,581 207,134 300,493 265,130 3,392,448 282,704
283,653 262,241 218,619 353,366 350,333 342,154 3,171,290 264,274
391,390 344,385 68,930 349,005 228,553 273,713 3,491,202 290,934
614,254 408,478 555,004 503,032 544,367 436,555 5,917,920 493,160
248,601 465,671 425,984 466,518 392,471 4,172,252 379,296
495,638 667,934 495,205 589,827 250,198 549,738 5,894,216 491,185
196,980 133,980 132,720 112,140 177,660 179,340 1,772,960 147,747
191,940 178,920 159,600 168,840 168,840 129,360 2,048,340 170,695
133,140 174,300 162,960 139,860 174,720 148,680 1,981,560 165,130
0 0 0 0 0 0 0 0
219,660 154,140 126,840 130,620 153,720 183,540 2,017,680 168,140
88,200 31,500 157,920 198,660 158,760 196,140 1,592,220 132,685
161,280 191,520 197,400 170,940 196,560 215,880 2,247,840 187,320
185,640 131,880 207,480 178,080 165,060 142,800 2,131,920 177,660
166,320 207,480 166,740 172,620 178,920 194,040 2,191,140 182,595
12,000 12,000 12,000 24,000 12,000 12,000 168,000 14,000
104,069 33,203 169,509 120,000 104,424 120,000 1,313,775 109,481
53,084 51,172 37,620 12,006 37,499 38,419 523,693 43,641
369,600 312,000 292,800 388,800 499,200 448,800 4,291,200 357,600
4,088,684 3,897,172 4,092,420 4,402,966 4,286,557 4,329,141
TOTAL GENERA 49,569,588 KWH
Gardner Denver
BE
KWH Per Drill
KWH Per Hour
506
585
566
0
576
454
642
608
625
4562
558
582
Info Requirements for Candelaria Drill Fleet Analysis
Drill 1 Drill 2 Drill 3 Drill 4 Drill 5 Drill 6 (R10) Drill 7 (R11) Drill 8 (R12) Drill 9 (R14)
Manufacturer Gardner Denver Gardner Denver Gardner Denver Gardner Denver Gardner Denver Bucyrus-Erie Bucyrus-Erie Bucyrus-Erie Bucyrus-Erie
Model GD120 GD120 GD120 GD120 BE-49RIII BE-49RIII BE-49RIII BE-49RIII
Max Bit Load 120 120 120 120 120 120 120 120
Cumulative Operating Hours 67534 75016 67544 67806 49468 55810 53846 40631
Current Average Operating Cost ($/hr) 32.99 32.99 32.99 32.99 32.99 32.99 32.99 32.99
Lowboy Trailer Required? yes yes yes yes yes yes yes yes
Anticipated Date of Rebuild or Replacement 2010 2009 2010 Out of Service 2008 2008 2009 2011 2011
Rebuild cost (KU$) $1,180 $1,589 $1,398 $1,542 $1,263 $1,210 $1,270 $1,131
Replacement year 2009 2008 2008 2008 2008 2009 2009 2010
LOM Drill Fleet Requirements by Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Gardner Denver 4 4 4 3 3 3 3 3 2 1
Bucyrus-Erie 4 4 4 4 4 4 3 3 2 2
Drill 1 Drill 2 Drill 3 Drill 4 Drill 5 Drill 6 Drill 7 Drill 8 Drill 9

Manufacturer Gardner Denver Gardner Denver Gardner Denver Gardner Denver Gardner Denver Bucyrus-Erie Bucyrus-Erie Bucyrus-Erie Bucyrus-Erie
Model BE-49 BE-49 BE-49 BE-49
Year Purchased 1995 1995 1995 1995 1995 1995 1995 1995 1995
Purchase Price $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500
Book Value $ - $ - $ - $ - $ - $ - $ - $ - $ -
Asset Life 8 8 8 8 8 8 8 8 8
Salvage Value in 2008 $ - $ - $ - $ - $ - $ - $ - $ - $ -
Forecasted Rebuild Date (If applicable)
Forecasted Rebuild Cost (If applicable)
Capital Spending Drill Replacement Year - Budgeted
Alternatives
Alternative OEM?
Would Candelaria consider contract drilling once current fleet is no longer repairable due to life of mine?
Notes/Comments/Questions
Is there delay data available that correlates to drill cable logistical issues such as frequency of cords being cut as a result of falling rocks?
Drill Reductions 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Gardner Denver 0 0 0 1 0 0 0 0 1 1 1
Bucyrus-Erie 0 0 0 0 0 0 1 0 1 0 2
Drill Rebuilds 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Gardner Denver 0 1 1 1 0 0 0 0 0 0 0
Bucyrus-Erie 0 1 1 0 2 0 0 0 0 0 0
file:///conversion/tmp/scratch/443328352.xls Candelaria Drill Info

Drill Production Estimate BY: JIM K. GREEN
520-990-0039
COMPANY FMI Mine Technology Group AVG. 5500 FT. ELEV./MEAN TEMP. 85 F
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
imperial metric Method 1 imperial
Rock Compressive Strength (psi)/(MPa) 20319 140.0 Ideal Pulldown (lbs)/(kg): 75000
Actual Pulldown Force (lbs/kg) 75000 34020 Actual Pulldown (lbs):/ (kg) 75000
Bit Diameter (in)/(mm) 10.625 269.88 Pure Penetration Rate (ft/hr):/(m/hr) 185.4
Rotation Speed (rpm) 80
Avg. Hole-To-Hole Move Time (min) 1.25
Avg. Leveling Time (min) 0.87 TYPICAL HOLE
Avg. Steel Add Time (min) 0.00 Drill Time (min) 17.0
Avg. Steel Rack Time (min) 0.00 Steel Change, Retract Time (min): 0.5
Avg. Retract Time, Last Steel (min) 0.50 Leveling & Move Time (min): 2.6
Avg. Jack Retract Time (min) 0.50 Operator Efficiency 85%
Operator Efficiency 85% Total Time/Hole (min) 23.7
Bench Height (ft)/(m) 52.49328 16.00
Subdrilling (ft)/(m) 0 0.00 Overall Drilling Factor: 71.8%
Drill Steel Length (ft)/(m) 65 19.81 Overall Penetration Rate (ft/hr)(m/hr): 133.1
Bailing Velocity Calculation: Torque/Horsepower Calculations:

Air Compressor Volume (CFM): 3800 107.60 Torque Required (ft-lb) - Method 1 8,826
Drill Rod Diameter (in): 9.25 234.95 Horsepower Draw - Method 1 134.5
Altitude/Temp. Correction Factor 1.160 Torque Required (ft-lb) - Method 2 11,068
Additional losses cfm(m3/min) 75 2.12 Horsepower Draw - Method 2 168.7
Approximate Bailing Velocity (ft/min) (M3/min) 21561 610.52
METHOD 2
Penetration Rate Based Upon Cutting Height of Bit Bit Loading:
Carbide Height (in) 0.5 Bit Load/Inch of Bit Diameter (lb) 7059
Penetration/Rev. to CH Ratio (1.0 is optimum) 0.50 Method 1 Max Bit Load 91441
Theoretical Penetration Rate @ P/R:CH = 1.0: 98
From Method 1 Production Estimate Max Bit Load (lb/in. of bit dia.) 6000
Calculated Penetration/Rev to CH Ratio 0.95 Max Recommended Bit Load 63750
Actual Penetration/Revolution (in.) 0.46
metric
34020
34020
56.50
40.58
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
34.18
26.15
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
19.22
15.38
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
15.19
12.30
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00
Subdrilling (ft)/(m) 6.56 2.00 Overall Drilling Factor: 70.4%

METHOD 2
metric
37422
37422
62.15
43.74
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Rock Compressive Strength (psi)/(MPa) 26124.82 180.0 Ideal Pulldown (lbs)/(kg): 82500
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
37422
37422
37.59
28.15
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
37422
37422
21.15
16.54
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
37422
37422
16.71
13.23
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
41731
41731
69.30
49.75
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
41731
41731
41.92
31.79
520-990-0039
DRILL MODEL PV351
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
41731
41731
23.58
18.77
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
41731
41731
18.63
15.03
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
43.38
31.56
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
31.87
23.97
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
19.28
15.06
520-990-0039
DRILL MODEL PV271
DATE 04-Sep-07
INPUT OUTPUT
Bench Height (ft)/(m) 52.49328 16.00

METHOD 2
metric
34020
34020
15.62
12.34
Phelps Dodge Mining Company Entering Asset Lives for Tax Depreciation Entering Asset Lives for Book Depreciation Entering UOP Unit of Production Hyperlinks to Depreciation Page
CE-1 Financial Evaluation - Project : 1 PV351, 1 PV271 & 6 ARDVARC Systems
Depreciation Worksheet
Depreciation Method Selection Delay Start of Depreciation Until Project Complete in Year 1 Details
Applies only to the Proposed Case (leave set at 1 for no delay)
Tax
3 Undefined Choice ManualEntry Calculated Using Rates
AMT 150% Declining Balance
Book
2 Check Book Depreciation Schedule Below ManualEntry SLTable UOPEntry
Straight Line - Half Year Convention
Guidance to Select Tax and Book Depreciation <<- For Additional Assistance
Capital Expenditures for Depreciation (k$) No Depreciation Delay

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Total
(Proposed Case) 11,040 0 3,150 0 0 3,528 882 0 0 4,940 0 0 0 0 0 0 0 0 0 0 23,540
(As Is Case) 1,800 0 3,150 0 0 1,764 2,646 0 0 3,705 0 0 0 0 0 0 0 0 0 0 13,065
Depreciation Results (k$/y) - Transfers to the CE-1 Form Dictated by the Depreciation Method Selected and Project Life (written off in final period)
If This Investment is Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Total
Tax Depreciation 0 1,182 2,112 1,997 1,955 1,826 2,116 2,508 1,762 951 1,262 1,485 1,283 929 659 605 908 0 0 0 0 23,540
Book Depreciation 0 690 1,380 1,577 1,774 1,774 1,994 2,270 2,325 1,635 1,254 1,366 1,169 1,169 948 673 1,544 0 0 0 0 23,540
Tax minus Book Depr (for deferred tax) 0 492 732 420 181 52 122 238 (563) (684) 9 120 114 (239) (289) (67) (636) 0 0 0 0 0
If This Investment is Not Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Total

Tax Depreciation 0 193 344 608 823 694 795 1,227 1,268 1,000 1,130 1,249 1,097 886 616 454 681 0 0 0 0 13,065
Book Depreciation 0 113 225 422 619 619 729 1,005 1,170 1,058 1,177 1,211 1,014 1,014 904 629 1,158 0 0 0 0 13,065
Tax minus Book Depr (for deferred tax) 0 80 119 186 204 75 66 223 98 (58) (46) 38 83 (128) (288) (175) (477) 0 0 0 0 0
Area for Manual Entry or Pasting of Depreciation Schedules - Optional : Not Used in this Analysis
If This Investment is Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Tax Depreciation (k$/y) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Book Depreciation (k$/y) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
If This Investment is Not Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Tax Depreciation (k$/y) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Book Depreciation (k$/y) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Area for Manual Entry of Production Data (UOP Basis) - Optional : Not Used in this Analysis
Annual Production for Depreciation Basis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
% of Remaining Production 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
If This Investment is Not Made 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Total

Annual Production for Depreciation Basis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
% of Remaining Production 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Guidance for UOP Deprec Method <<- For Additional Assistance
7 3 4 0 0
Tax Depreciation Schedule > Enter the depreciation life by year in Column C for both the "Proposed" (Rows 61 to 81) and
As Is Case (Row 88 to 108) tables.
Guidance for Tax Depreciation Asset Life <<- For Additional Assistance

Year CapEx Amount (k$) Life
0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1 11,040 7 1,182 2,112 1,659 1,352 1,352 1,352 1,352 677 0 0 0 0 0 0 0 0 0 0 0 0 11,040
2 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 3,150 7 337 603 473 386 386 386 386 193 0 0 0 0 0 0 0 0 0 0 3,150
4 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 3,528 7 378 675 530 432 432 432 432 216 0 0 0 0 0 0 0 3,528
7 882 7 94 169 133 108 108 108 108 54 0 0 0 0 0 0 882
8 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0
10 4,940 7 529 945 742 605 605 605 605 303 0 0 0 4,940
11 0 7 0 0 0 0 0 0 0 0 0 0 0
12 0 7 0 0 0 0 0 0 0 0 0 0
13 0 7 0 0 0 0 0 0 0 0 0
14 0 7 0 0 0 0 0 0 0 0
15 0 7 0 0 0 0 0 0 0
16 0 7 0 0 0 0 0 0
17 0 7 0 0 0 0 0
18 0 7 0 0 0 0
19 0 7 0 0 0
20 0 7 0 0
Total 23,540 0 1,182 2,112 1,997 1,955 1,826 2,116 2,508 1,762 951 1,262 1,485 1,283 929 659 605 605 303 0 0 0 23,540
1
443328352.xls Depr Printed 10/22/2019 14:11:33


0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1 1,800 7 193 344 271 221 221 221 221 110 0 0 0 0 0 0 0 0 0 0 0 0 1,800
2 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 3,150 7 337 603 473 386 386 386 386 193 0 0 0 0 0 0 0 0 0 0 3,150
4 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 1,764 7 189 337 265 216 216 216 216 108 0 0 0 0 0 0 0 1,764
7 2,646 7 283 506 398 324 324 324 324 162 0 0 0 0 0 0 2,646
8 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0
10 3,705 7 397 709 557 454 454 454 454 227 0 0 0 3,705
11 0 7 0 0 0 0 0 0 0 0 0 0 0
12 0 7 0 0 0 0 0 0 0 0 0 0
13 0 7 0 0 0 0 0 0 0 0 0
14 0 7 0 0 0 0 0 0 0 0
15 0 7 0 0 0 0 0 0 0
16 0 7 0 0 0 0 0 0
17 0 7 0 0 0 0 0
18 0 7 0 0 0 0
19 0 7 0 0 0
20 0 7 0 0
Total 13,065 0 193 344 608 823 694 795 1,227 1,268 1,000 1,130 1,249 1,097 886 616 454 454 227 0 0 0 13,065
1
Book Depreciation Schedule (SL Basis) > Enter the depreciation life by year in Column C for both the "Proposed" (Rows 135 to 155) and
As Is Case (Row 162 to 182) tables.
Guidance for Book Depreciation Asset Life <<- For Additional Assistance

0 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1 11,040 8 690 1,380 1,380 1,380 1,380 1,380 1,380 1,380 690 0 0 0 0 0 0 0 0 0 0 0 11,040
2 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 3,150 8 197 394 394 394 394 394 394 394 197 0 0 0 0 0 0 0 0 0 3,150
4 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 3,528 8 221 441 441 441 441 441 441 441 221 0 0 0 0 0 0 3,528
7 882 8 55 110 110 110 110 110 110 110 55 0 0 0 0 0 882
8 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0
10 4,940 8 309 618 618 618 618 618 618 618 309 0 0 4,940
11 0 8 0 0 0 0 0 0 0 0 0 0 0
12 0 8 0 0 0 0 0 0 0 0 0 0
13 0 8 0 0 0 0 0 0 0 0 0
14 0 8 0 0 0 0 0 0 0 0
15 0 8 0 0 0 0 0 0 0
16 0 8 0 0 0 0 0 0
17 0 8 0 0 0 0 0
18 0 8 0 0 0 0
19 0 8 0 0 0
20 0 8 0 0
Total 23,540 0 690 1,380 1,577 1,774 1,774 1,994 2,270 2,325 1,635 1,254 1,366 1,169 1,169 948 673 618 618 309 0 0 23,540
1

0 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1 1,800 8 113 225 225 225 225 225 225 225 113 0 0 0 0 0 0 0 0 0 0 0 1,800
2 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 3,150 8 197 394 394 394 394 394 394 394 197 0 0 0 0 0 0 0 0 0 3,150
4 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 1,764 8 110 221 221 221 221 221 221 221 110 0 0 0 0 0 0 1,764
7 2,646 8 165 331 331 331 331 331 331 331 165 0 0 0 0 0 2,646
8 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 0 8 0 0 0 0 0 0 0 0 0 0 0 0 0
10 3,705 8 232 463 463 463 463 463 463 463 232 0 0 3,705
11 0 8 0 0 0 0 0 0 0 0 0 0 0
12 0 8 0 0 0 0 0 0 0 0 0 0
13 0 8 0 0 0 0 0 0 0 0 0
14 0 8 0 0 0 0 0 0 0 0
15 0 8 0 0 0 0 0 0 0
16 0 8 0 0 0 0 0 0
17 0 8 0 0 0 0 0
18 0 8 0 0 0 0
19 0 8 0 0 0
20 0 8 0 0
Total 13,065 0 113 225 422 619 619 729 1,005 1,170 1,058 1,177 1,211 1,014 1,014 904 629 463 463 232 0 0 13,065
1
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Book Depreciation Schedule (UOP Basis)

Year CapEx Amount (k$)
0 0 0
1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 0 0 0 0 0 0 0 0 0 0 0 0 0
11 0 0 0 0 0 0 0 0 0 0 0 0
12 0 0 0 0 0 0 0 0 0 0 0
13 0 0 0 0 0 0 0 0 0 0
14 0 0 0 0 0 0 0 0 0
15 0 0 0 0 0 0 0 0
16 0 0 0 0 0 0 0
17 0 0 0 0 0 0
18 0 0 0 0 0
19 0 0 0 0
20 0 0 0
Total 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0

0 0 0
1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 0 0 0 0 0 0 0 0 0 0 0 0 0
11 0 0 0 0 0 0 0 0 0 0 0 0
12 0 0 0 0 0 0 0 0 0 0 0
13 0 0 0 0 0 0 0 0 0 0
14 0 0 0 0 0 0 0 0 0
15 0 0 0 0 0 0 0 0
16 0 0 0 0 0 0 0
17 0 0 0 0 0 0
18 0 0 0 0 0
19 0 0 0 0
20 0 0 0
Total 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0
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Depreciation Options Listings
Tax
Manual Entry/Paste
MACRS (Do not use)
AMT 150% Declining Balance
Book
Manual Entry/Paste
Units of Production
MACRS Depreciation Factors

CapEx Year Years after Capital Expenditure >
Life 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Check
3 33.330% 44.450% 14.810% 7.410% 1
5 20.000% 32.000% 19.200% 11.520% 11.520% 5.760% 1
7 14.290% 24.490% 17.490% 12.490% 8.930% 8.920% 8.930% 4.460% 1
10 10.000% 18.000% 14.400% 11.520% 9.220% 7.370% 6.550% 6.550% 6.560% 6.550% 3.280% 1
15 5.000% 9.500% 8.550% 7.700% 6.930% 6.230% 5.900% 5.900% 5.910% 5.900% 5.910% 5.900% 5.910% 5.900% 5.910% 2.950% 1
20 3.750% 7.219% 6.677% 6.177% 5.713% 5.285% 4.888% 4.522% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 2.231% 1
AMT Depreciation Factors - 150% Declining Balance - Half Year Convention

Life 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Check
3 25.000% 37.500% 25.000% 12.500% 1
5 15.000% 25.500% 17.850% 16.660% 16.660% 8.330% 1
7 10.710% 19.130% 15.030% 12.250% 12.250% 12.250% 12.250% 6.130% 1
10 7.500% 13.880% 11.790% 10.020% 8.740% 8.740% 8.740% 8.740% 8.740% 8.740% 4.370% 1
15 5.000% 9.500% 8.550% 7.700% 6.930% 6.230% 5.900% 5.900% 5.910% 5.900% 5.910% 5.900% 5.910% 5.900% 5.910% 2.950% 1
20 3.750% 7.219% 6.677% 6.177% 5.713% 5.285% 4.888% 4.522% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 4.462% 4.461% 2.231% 1
Straight Line Depreciation Factors - Half Year Convention

Life 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Check
3 16.667% 33.333% 33.333% 16.667% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
4 12.500% 25.000% 25.000% 25.000% 12.500% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
5 10.000% 20.000% 20.000% 20.000% 20.000% 10.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
6 8.333% 16.667% 16.667% 16.667% 16.667% 16.667% 8.333% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
7 7.143% 14.286% 14.286% 14.286% 14.286% 14.286% 14.286% 7.143% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
8 6.250% 12.500% 12.500% 12.500% 12.500% 12.500% 12.500% 12.500% 6.250% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
10 5.000% 10.000% 10.000% 10.000% 10.000% 10.000% 10.000% 10.000% 10.000% 10.000% 5.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% 1
15 3.333% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 6.667% 3.333% 0.000% 0.000% 0.000% 0.000% 0.000% 1
20 2.500% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 5.000% 2.500% 1
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Phelps Dodge Mining Company
Tax Worksheet
24% Standard Tax Rate
PDMC Domestic Projects
Tax Rate Selection Variable (Entered by Year)
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Variable
2
(Entered by Year)
35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
1 Standard 24% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0% 24.0%
2 Variable (Entered by Year) 1 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
3
4
5
6
7
For Additional Assistance See ->> Guidance for Selecting Tax Rates
443328352.xls Tax Printed 10/22/2019 14:11:34

Parameters/Assumptions for PDMC CE-1 Form
12/13/2005 Major Revision Date for this Master CE-1 Form

5/30/2007 Minor Revision Date - Cosmetic changes and guidelines update
v 07-05 Version Number
Parameters Entered
Discount Rates
12% Discount Rate - Base - Selected on Sheet AR-1
10% Discount Rate - Alternative for NPV Calculation
MIRR Calculation Rates

10% Finance Rate
12% Reinvestment Rate
Key Assumptions Made in this Analysis - Revise and add as appropriate
1 Tax credits from earning losses are used in the same year within PDC - no tax losses are carried forward.
2 Capital expenditures are fully depreciated. Balances are written off at the end of the defined project life.
3 NPV determination is by discrete end-of-period discounting, with year zero undiscounted.
4 As Time Zero is considered to be an instantaneous initial investment, depreciation will not start until Year One.
5
6
7
8
9
10
11
12
443328352.xls Tax Printed 10/22/2019 14:11:34

Appropriation Request and Economic Analysis Checklist
Yes No N/A
General
(1) Does the project meet the requirements for capitalization, not operating expenses such as
major repairs?
(2) Is the Project Category marked correctly on the AR-1 per the defined guidelines, and are
economics done if there is a cost savings justification regardless of the category?
(3) If the asset is needed to maintain production, reduce maintenance costs, or increase
revenue, is it justified on the basis of sound economics and logic? (For example, new
equipment purchase v. rebuild of existing unit.)
(4) Are all of the key assumptions in the analysis listed in the documentation? (For example,
power rates, copper prices, recoveries, etc.)
(5) Are major decision points and approval milestones defined?
(6) Does the construction and operating plan timing match the capital expenditure schedule
on the CE-1?
(7) Are all opportunity costs/revenues included in the As Is Case? (For example, transferred
equipment economics should be done on the basis of market values.)
(8) Is the proposal a stand-alone project, without investments that could and should be
independently analyzed?
(9) Is the analysis complete with all downstream and upstream effects? For example, a mill
expansion could require more mining equipment, or the value of surplus mining
equipment would be taken into account in the As Is case.
(10) Is a full-cycle analysis completed (in addition to point forward) if the proposal is
associated with earlier investments?
(11) If any other currencies are involved, has the conversion been done properly? Is a
hedging program recommended and costs included? (PDC Treasury Review)
(12) For SX-EW projects, is the timing of mining and copper production adequately reflected
over the project life? (Inventory build, slopes, etc.)
Alternatives Considered
(1) Are all reasonable alternatives to the As Is (investment not made) and Proposed
investment cases identified, documented and evaluated?
(2) Are the alternatives considered mutually exclusive of each other and evaluated on an
incremental basis?
(3) Are comparable project lives used in the As Is and Proposed cases, so that all economic
effects are on an equivalent basis?
(4) If this a lease (or rent) v. buy decision, is the acquisition justified on a purchased basis?
(Lease v. buy is a financing decision separate from the investment decision.)
(5) Is the As Is Case fully optimized and engineered as well as the Proposed case?
443328352.xls AR Chk - Page 186

Yes No N/A
Capital
(1) Are pre-feasibility and/or study costs included point forward? (Ignoring sunk costs)
(2) Are feasibility study, test work, and consulting costs included?
(3) Are land acquisition and legal costs included?

(4) Are permitting and bonding costs included?
(5) Are environmental compliance costs included?
(6) Are engineering costs included?
(7) Are procurement and freight costs included?

(8) Are sales taxes, transaction privilege taxes or VAT included?
(9) Are construction management costs included?
(10) Are capital contingencies included and are they consistent with the levels of engineering
detail?
(11) Are commissioning costs included?
(12) Are the start up/ramp up costs accounted for (capital per SOP 98-5 - most are
expensed)?
(13) Are infrastructure and utility requirements included?
(14) Is all sustaining capital included? Does equipment and component economic life match
the replacement schedule?
(15) Are the labor costs of dedicated PD resources included?
(16) Are all working capital elements adequately forecasted?

(17) Accounts receivable?
(18) Accounts payable?
(19) Material and supplies inventory increases/decreases, including the recommended
spare parts inventory?
(20) Are product inventories included, both work in progress and finished goods?
(21) Is the working capital in the last year of the project taken to zero for A/P, A/R, and
product inventory and to residual value for M&S inventory for all cases?
(22) For computer software project costs, are the amounts expensed or capitalized properly
(per SOP 98-1)?
443328352.xls AR Chk - Page 187

Yes No N/A
Discounting/Risks
(1) Does the discount rate(s) match the appropriate PD hurdle rate if this is a standard
domestic project? (NPVs at multiple discount rates calculated - 10, 12 & 15%.)
(2) Does the initial capital investment appropriately reflect the time value of money, if
material? (An investment over period of longer than a six months may need discounted
instead of assuming time 0. Also, very short lived projects < 3 years may need monthly
discounting.)
(3) Does the timing of the start of depreciation reflect the mid-year convention for the period
the asset is placed in service?
(4) Are the correct formulas used if discrete discounting is applied? (full year end-of-period
convention)
(5) Are the correct formulas used if continuous discounting is applied?
(6) Does the incremental NPV equal the difference between the proposed Project Case NPV
and the As Is Case NPV?
(7) If the project has any negative cash flows beyond the initial investment period (multiple
IRR potential), is the IRR properly calculated or noted?
(8) Is the quality of data sufficient to provide appropriately accurate analysis results? Is
adequate backup information provided to support the forecasts for all cases?
(9) Was a risk profile developed and documented for each alternative considered?
(10) Was a fatal flaw analysis completed?
(11) Are major risk issues examined (and corporate or local review completed as appropriate
or if required) and addressed in the AR documentation, such as the following?
(12) Business/economic
(13) Construction (PDMC Engineering Review)
(14) Engineering (PDMC Engineering Review - required if >$5 million in
construction/design)
(15) Environmental (PDC Environmental Review if an environmental category 2)

(16) Financial (PDC Treasury Review)
(17) Geology (PDMC Engineering Review)
(18) Labor Risks (HR Review)
(19) Legal – Permitting (PDC Land and Water Resources Review)
(20) Marketing (PD Sales Company Review)
(21) Operations
(22) Political
(23) Safety (Safety Department Review)
(24) Tax (PDC Tax Review)
(25) Technology (PDMC Engineering/PTC Review)
(26) Weather
(27) Is the discount rate used appropriate for the risk level?
443328352.xls AR Chk - Page 188

Yes No N/A
Sensitivity Analysis
(1) Do the elements chosen for sensitivity analysis correspond to the most significant risks
identified?
(2) Do reasonable ranges of values applied in the sensitivity analyses correspond to the
relative project risks?
(3) Are independent sensitivities applied separately (e.g. acid price, pit slope angle, and
process recovery) and dependent sensitivities applied in combination (e.g. copper price
and external TC/RCs)?
Safety/Environmental
(1) Are all safety issues considered and addressed in the proposal?
(2) If permitting will be required, is the timing and cost of all activities included?
(3) Are all environmental costs included at the end of the project life (closure, remediation,
reclamation, holding cost, and/or disposal)?
(4) Are ongoing environmental compliance costs identified and included in the cash flow
analysis?
(5) Is the impact and timing of the closure cost accrual and cash expenditures included in the
project economics?
Ore Reserve
(1) Do the reserve totals in the evaluation match the declared SEC reserves reported?
(2) Do the reserve economic parameters for floating cones (For example, acid price, mining
and processing costs, sustaining capital, cutoff grades, etc.) match those in the AR project
economics?
(3) Do long range stripping ratios and ore grades match (As Is v Proposed Case)?
Key Performance Indicators

(1) Are operating KPIs that have a direct relationship to financial results documented for both
the As Is and the Proposed Cases?
(2) Are all measurement tools in place for accurate monitoring of the project successes?
(3) Are project management control systems in place? (PDMC Engineering)
(4) Do the financial KPIs (income, cash flow, EVA, etc.) appropriately reflect the incremental
financial results to be reported for PDMC?
443328352.xls AR Chk - Page 189

Yes No N/A
Retired Assets
If the transfer or other disposal of any equipment or facilities are caused or affected by the
Proposed Case:
(1) Is salvage value gain or loss incorporated into the project cash flow and separate
from required capital expenditures?
(2) Is the salvage gain or loss reasonably estimated? (PDMC Global Sourcing review)
(3) For transferred equipment, has the receiving branch included the cost of all
refurbishments and other modifications planned?
(4) Are appropriate undepreciated book values for the items correctly written off?
(5) Are dismantling, demolition, tax implications, and all other costs and/or benefits
associated with the asset accounted for?
(6) Does form AR-2 accompany any proposal to retire or dispose of capital
equipment? (If not, credit should not be taken for salvage in economics.)
Depreciation/Taxes
(1) Is the project capital fully depreciated on a tax and book basis in the evaluation? Does
the incremental depreciation total equal the incremental capital expenditures (exclusive of
land purchases)?
(2) Are the proper depreciation periods correctly applied for all property, plant, and equipment
according to current guidelines (or reviewed by the PDC Tax department for special
projects)?
(3) Is the deferred tax total over the project life equal zero for all cases?
(4) Have corporate income taxes been correctly calculated according to current guidelines (or
reviewed by the PDC Tax department for special projects)?
(5) For foreign operations, are financial results based on the repatriation of capital? Are all
appropriate federal and state taxes on foreign dividends correctly applied?
Post Completion Evaluation

(1) If the appropriation amounts to $5 million or more and is a cost saving or expansion
project, is the "Subject to PCE" marked "Yes" on the AR-1 form?
(2) If an PCE will be required, are all operational and financial expectations clearly defined
with the key performance indicators to be measured against actual results?
(3) Is there sufficient detail and a financial model prepared and retained for a post completion
evaluation?
443328352.xls AR Chk - Page 190

Check Worksheet - Completeness and Accuracy
AR Descriptions Completed
Unit Done
Project Title Done
Location Done
Appropriation Number Not Done
Budget Reference Number(s) Not Done
Date Done
Depreciation
The incremental capital is equal to the incremental tax depreciation 1
The incremental capital is equal to the incremental book depreciation 1
Incremental total deferred tax is zero 1
Working Capital
Incremental Change in Working Capital is Zero 1
Financial Metrics
Year Zero initial investment made (negative incremental net cash flow) 1
Single IRR solution - No negative incremental cash flows in the out years 0
Single Payback solution - No negative cumulative incremental cash flows in the out years 1
Guidance on Check <<- For Additional Assistance
443328352.xls Chk Printed 10/22/2019 14:11:34

CE-1 Incremental Economic Analysis Form
Document Change History
Revision 04-01
Made cosmetic changes to forms
Included worksheet that included guidance and instruction on completing CE-1 form
Included hyperlinks that connect worksheets
Broke link between tax and book depreciation asset lives on "Depr" worksheet that calculate book and tax depreciation
Added "Book Depreciation Asset Lives" worksheet
Revision 04-02
Changed hyperlinks on <CE-1> tab from words to objects that will not print in final version elimanating a column and reducing clutter
Fixed logic on <Depr> tab
Revision 04-03
Revised Hyperlinks on CE-1 tab to objects so they do not print
Revision 04-04
Added AR Checklist in Spanish
Added MIRR calculation and MIRR Reinvestment Rate cell
Revision 04-05
Added CCC and PDW&C asset depreciation lives
Added cells to enter the reinvestment and finance rates for calculating MIRR
Revision 04-06
Cosmetic changes and cell reference revisions
Revision 05-01
Changed the Standard Tax Rate to 24% per LAS's request
Revision 05-02
Change names on tabs and moved checklist to parameters per C. Maxwell
Revision 05-12
Added the RE-1 tab
Preparation for distributing with the new Capital Expenditure Guide
Revision 06-01a
Changed referenc in CE1 Guide for Project Life and Starting year to cells D12 and D13
Revision 06-03 (3/15/2006)

Modified Chk C6:C11 to also check for blank cells
Increased entry area for AR-1 O14:O15
Referenced information on the AR-1 from sheet CE-1 to eliminate double entry of project, date, unit, location, budget reference and AR numbers,
added prompts to the right
Added a selector to specify the base NPV discount rate for the project - sheet AR-1 cell O20
Referenced discount rate table to eliminate hardwired discount rates - sheet AR-1 cell Q20
Modified AR-1 K21:K23 to eliminate hardwired discount rates
Referenced IRR from the CE-1 on AR-1 cell M20 and formatted as a percentage
Referenced PVR from the CE-1 on AR-1 cell M24 and formatted
Sheet RE-1 - Added commentary on weighting factor options. Added a total and check cells on row 35
Reworded row label on CE-1 cell B50 to include Opportunity Costs
Revision 06-04 (4/18/2006)

Changed file name to designate the inclusion of the CE-1 form
Removed example data from Depr row 52
Updated revision stamp on footers and Tax A27
Revision 06-12 (12/14/2006)

Updated the Depreciation Lives Tab
Revision 07-05 (5/30/2007)

Referenced the hardcoded MIRR discount rates on sheet CE-1 cells D10 and D11 to the data entry fields on sheet Tax (A37:A38)
443328352.xls - Doc Hist printed 10/22/2019

Made the label on sheet CE-1 cell B75 dynamic to the base discount rate selected
Made the labels on sheet CE-1 cells I10:I12 dynamic to show the base discount rate selected
Made the PVR calculation reference the selected base discount rate rather than only 10%
Adjusted the printed footers on the AR-1 form
443328352.xls - Doc Hist printed 10/22/2019

PHELPS DODGE CORPORATION
DEPRECIATION QUICK REFERENCE
Financial (Book)
Accounting Policy
Guideline
Initial
Method
Asset
Life1
Deprec-
iated
Not
N/A
Life of
Pooled Units of
Mine
Production
2
Only long-lived, life-of-mine Phelps Dodge Mining Company assets are depreciated in this category. Other depre
straight line, even if not specifically listed in the table below. If an asset being depreciated on this UOP basis is rep
that the replacement asset should not be considered a long-lived, life-of-mine asset. The Climax Molybdenum Co
utilizes the units-of-production depreciation method on a non-pooled basis.
3 years
4 years
5 years
6 years
7 years
Straight Line, Half-Year Convention 4
8 years
10 years
Straight Line, Half-
10 years
12 years
15 years
20 years
30 years
1
The lives shown in this table are guidelines only, and in no case should an asset's depreciation life exceed its use
assigned to a straight-line asset is to be equal to the remaining useful life of the asset, and may periodically require
information becomes known. Straight-line assets are depreciated to their expected residual salvage value (fair val
require prospective adjustment as new information becomes known. A change in estimate of an asset's salvage v
never result in a change in the asset's historical accumulated depreciation.
3
Other than long-lived, life-of-mine assets
4
The assets listed here are not an all-inclusive list of assets to be depreciated on a straight-line basis.
(see above for financial book treatment)
- U.S. Tax Rules
Other Financial Analysis Guidance
PHELPS DODGE CORPORATION
DEPRECIATION QUICK REFERENCE
Type of Asset
Non-mining land
Long-lived, life-of-mine assets2

2
Only long-lived, life-of-mine Phelps Dodge Mining Company assets are depreciated in this category. Other depreciable assets are depr
straight line, even if not specifically listed in the table below. If an asset being depreciated on this UOP basis is replaced, there is a stron
that the replacement asset should not be considered a long-lived, life-of-mine asset. The Climax Molybdenum Company Ft. Madision lo
utilizes the units-of-production depreciation method on a non-pooled basis.
Automobiles and pickups, including light trucks for road use

Computer hardware and PCs
PC software if purchased separately from hardware
Ultra light truck beds
Portable lighting
Transportation equipment, other than for road use 3
Forklifts
Heavy trucks for road use
Major software applications
Tractor units for road use
Trailers and trailer-mounted containers
Loaders
Certified haul truck rebuilds, if specifically authorized as capital
Other mobile mining and exploration equipment
Track and wheel dozers
Drills
Graders
Haul trucks, below 150 tons
Mobile dewatering equipment
Mobile generating equipment
Underground roof bolters
Farm machinery
Haul trucks, 150 tons and above
Hydraulic shovels
Low boy trailers
Mobile communications equipment
Mobile compressors and ventilation equipment
Mobile power centers and electrical distribution equipment
Portable conveyors and stackers
Rock dusters
Welders
Lab equipment 3
Land improvements 3
Mobile cranes
Rail cars and locomotives
Electric shovels
Buildings 3
1
The lives shown in this table are guidelines only, and in no case should an asset's depreciation life exceed its useful life. The remaining
assigned to a straight-line asset is to be equal to the remaining useful life of the asset, and may periodically require prospective adjustm
information becomes known. Straight-line assets are depreciated to their expected residual salvage value (fair value), which may period
require prospective adjustment as new information becomes known. A change in estimate of an asset's salvage value or remaining use
never result in a change in the asset's historical accumulated depreciation.
3
Other than long-lived, life-of-mine assets
4
The assets listed here are not an all-inclusive list of assets to be depreciated on a straight-line basis.
Miscellaneous mining assets (Includes all assets used in the mining and quarrying of metallic and non-
metallic minerals and the milling, beneficiation and other primary preparation of such materials)
Assets used for the manufacturing of primary non-ferrous metals (Includes assets used in the smelting,
refining and electrolysis of nonferrous metals from ores, the rolling, drawing and alloying of nonferrous metals
and the manufacture of structural shapes, wire and cable)
Land improvements (Includes improvements to or directly added to land, provided such improvements are
depreciable, including roads, drainage facilities, fences, landscaping, etc.)
Industrial steam and electric generation facilities (Includes assets used in the production and / or
distribution of electricity > 500 Kw or steam > 12,500 pounds per hour for use by the taxpayer in its industrial
manufacturing process and not ordinarily available for sale to others. If smaller, apply life as per manufacturing
activity. Steam and chemical recovery boiler systems in excess of the above are depreciated by the
manufacturing activity.)
Water reduction and resource recovery plants (water treatment)
Office equipment (Furniture and fixtures not a structural component, excluding communication and IT
equipment)
Copiers
Financial Analysis
Guidance - U.S. Tax
Rules
AMT
AMT
Life
Method
(Years)
N/A N/A
See below
reciable assets are depreciated

eplaced, there is a strong indication
Company Ft. Madision location
150% DB 5
150% DB 5
Straight Line 3
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 5
Straight Line 3
150% DB 3
150% DB 5
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 5
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 7
150% DB 15
150% DB 7
150% DB 7
150% DB 7
Straight Line 39
seful life. The remaining life
uire prospective adjustment as new
value), which may periodically
value or remaining useful life will
150% DB 7
150% DB 7
150% DB 15
150% DB 20
150% DB 7
150% DB 7
150% DB 5
Guide to Completing v 07-05
1 Text in blue signifies the cells or fields that must be input by the user. Black text signifies cells with formulas or references that should not be altered.
2 Small red triangles represent comments that have been added for the benefit of the user. The comments provide background on the user's input requirements and
the mechanics used to calculate data in that particular row. Placing the cursor on the cell with the red triangle will reveal the hidden comment.
3 Data entry should begin by entering project information related to the analysis at the top of the CE-1 form including the project title, location, documentation numbers,
and the date.
4 Enter the project life or number of years for the analysis in cell D12. If the project life is greater than 20 years, rather than expanding the form, the cashflows from the
additional years can be discounted to year 20, or a terminal value can be included.
5 Enter the year that signifies the first full year of project operation in cell D13. The year should represent the first period that cash flow items will be discounted. The
first data column labeled "0 - Initial" is only for time zero or "instantaeous" cash flows that are not discounted. Cash flows are discounted end of period.
6 Beginning with the "Proposed case", enter the annual revenues and/or savings associated with the project in row 1, followed by the annual operating costs in row 2
and general/administrative costs in row 3. You can link cells in blue to new tabs with more detailed data, calculations or sensitivity tables.
7 Enter the changes in working capital on row 9. Decreases in working capital should be entered as a positive number while increases in working capital should be
negative. (Note: The sum of row 9 will normally be zero by the end of the project life.)
8 Capital expenditures should be entered as negative values in the years they are incurred on row 11.
9 Salvage value or opportunity costs associated with the project should be entered on row 12. Salvage value at the end of the project's life should be entered on a net
salvage basis with gains entered as positive values and costs being negative . Opportunity costs represent the value or positive cashflow given up or foregone that
would occur if the investment is not made. For example, the transfer of a piece of surplus equipment has a market value that could be realized if the investment is not
made and the asset sold, which is an "opportunity cost" that must be included in the evaluation.
10 Steps 6 through 9 regarding the input of data into the "Proposed Case" portion of the form should be performed in the "As Is Case" section of the CE-1 form entering
the annual revenue, cost and capital data.
11 After input of data for the proposed case, depreciation methods need to be addressed on the "Depr" worksheet. Begin by selecting the method of depreciation for tax
and book purposes from the drop-down boxes. For tax purposes, calculation factors for AMT 150% declining balance (U.S.) and straight-line methods have been built
into the spreadsheet to calculate annual tax depreciation. For book depreciation purposes, there are two primary methods for calculating depreciation, straight-line or
units of production (UOP).
12 Cell L5 allows the user to control the year depreciation should be initiated. The initial setting for cell L5 is 1, which should be used for projects with short construction
periods (<one/half year), where the capital is shown in the initial t=0 column and depreciation starts the first full year. If initial cash outflows cover more than one-half
year, then the capital spending should start in year 1. Depreciation should not begin until the year assets are placed in service, which is effected by changing cell L5
as necessary.
13 After selecting from the drop-down boxes, each method of tax depreciation (AMT 150% declining balance and straight-line) requires the user to enter the asset life or
number of years of depreciation to be considered for depreciating the asset. In many tax jurisdictions, the tax asset life is dependent on the type of asset and
generally varies from one asset to another. Refer to the US Master Depreciation Guide or your accounting department for additional assistance in establishing an
appropriate asset life. The asset life should be entered in column C between rows 61 and 81 for the "Proposed Case" and rows 88 and 108 for the "As Is Case" next
to the corresponding capital expenditure you entered on the CE-1 form. For multiple capital expenditures occurring in one particular year, the asset life factor should
represent the closest to the weighted average of the combined asset lives. Standardized rates for straight-line and AMT 150% declining balance methods are located
at the bottom of the "Depr" tab.
14 For book depreciation, only the straight-line method requires an asset life. A list of commonly used equipment and their asset lives are included on the "Book
Depreciation Asset Lives" worksheet in this workbook or contact your accounting department for additional assistance in establishing an appropriate asset life. The
appropriate asset life should be entered in column C on the depreciation worksheet between rows 135 and 155 for the "Proposed Case" and rows 162 and 182 for
the "As Is Case "next to the corresponding capital expenditure you entered on the CE-1 form. For multiple capital expenditures occurring in one particular year, the
asset life factor should represent the closest to the weighted average of the combined asset lives. If units of production is the selected method of book depreciation,
the annual production should be entered on row 47 for the "Proposed Case" and row 51 for the "As Is Case". The worksheet will calculate the annual book
depreciation based on an annual percentage of the total production for the life of the project.
15 Income Tax and Deferred Tax calculated on the CE-1 form is based a tax rate established on the "Tax" worksheet. The worksheet provides two options, a standard
24% rate, most commonly used for PD domestic projects (AMT plus state taxes), and a manually entered rate that can be selected by the user for non-US locations.
To enter an alternative tax rate schedule, select the manual alternative in the drop-down box and enter the rates in row 10 for each year. The deferred tax merely
reflects timing differences between book and tax depreciation and has no impact on cash flow or the IRR. It does, however, allow one to appropriately calculate the
impact on earnings and implied costs.
16 Returning to the "CE-1" worksheet, all the necessary information for both the "Proposed" and "As Is" cases should now be complete and ready for review. The CE-1
form has a number of checks and error messages in cells P9 to P11. Error messages in this column indicate a problem with the annual cash flows, most frequently
due to negative cash flows in the later project years that results in multiple IRR solutions or prevention of calculating Average ROI and Payback. Additionally, the
"Checks" worksheet provides a number of error messages based on the users input data. Errors on this page are related to proper treatment of capital and
depreciation to confirm that all capital has been appropriately depreciated over the project life. Also inconsistencies with working capital and reporting metrics are
reported to the "Checks" worksheet to flag any potential additional errors the user may need to address.
17 The remaining two worksheets, "Parameters" and "AR Checklist" provide general assumptions used in the workbook and a checklist that the user should review and
complete. The checklist provides a reminder to the user of additional considerations and alternatives that need to be properly addressed in the analysis.
18 Finally, if you have additional questions or comments regarding the form or need assistance, contact your accounting department or the Financial and Operational
Analysis Group in Phoenix.
443328352.xls CE1 Guide

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VERSION OFICIAL

Fcast Fcast Fcast

Optimal Cutoff 0.33% 0.33% 0.33%

Total Material Mined Ex-Pit (kt) 9,175 8,069 9,172

avg ktpd ex-pit 295,963 278,254 295,856

Waste (kt) 7,039 5,051 5,839

Ore Hauled: from mine benches (kt) 1,503 1,580 1,547

Low Grade Hauled (kt) 190 661 809

from mine to Stock / High Grade Tobas(kt) 262 604 797

Rehandle from STOCKPILES (kt) 75 102 140

from COEMIN (kt) 30 30 30

from ALCAPARROSA (kt) 124 116 124

INCREMENTO DEL I.O.S 153.72 - -

WIP End of Month (Kt) 77,728 78,288 78,957

Non-Ore : Ore Ratio 5.1 4.1 4.9

Total Ore to Crusher (Kt) 1,913 2,001 2,021

Tailings - kton 1,713 1,955 1,966

Detail Payable Cu Production ('000 lbs)

Gross Cu Production ('000 lbs) 31,172 31,382 37,172

Gross Total Au Production (gr) 269,181 274,507 329,809

Gross Total Ag Production (gr) 5,170,254 5,337,806 5,018,364

Payable Cu Production ('000 lbs) 30,081 30,284 35,871

RESUMEN PLANTA DE PROCESOS Jan/08 Feb/08 Mar/08

RESUMEN MOVIMIENTO DE MATERIALES Jan/08 Feb/08 Mar/08

CANDELARIA PD-1 Jan/08 Feb/08 Mar/08

Gross Total Ag Production (gr) 4,982,428 5,131,174 4,847,556

Conc -Ag (Grms/DMT) 118.96 120.79 96.73

Gross Metal Produced

Cu Payable (klbs) 27,623 28,017 33,050

ALCAPARROSA PD-1 Jan/08 Feb/08 Mar/08

Cu Recovery Plant 94.000% 94.000% 94.000%

Gross Total Ag Production (gr) 187,826 206,632 170,807

Conc -Ag (Grms/DMT) 50.41 60.13 39.93

Gross Metal Produced

Cu Payable (klbs) 2,457 2,267 2,821

MINA SANTOS PD-1 Jan/08 Feb/08 Mar/08

Cu Recovery Plant 93.200% 93.200% 93.200%

Gross Total Ag Production (gr) 251,404 220,138 369,117

Conc -Ag (Grms/DMT) 71.12 69.80 95.57

Gross Metal Produced

Cu Payable (klbs) 2,350 2,160 2,342

OJOS DEL SALADO Jan/08 Feb/08 Mar/08

Cu Recovery Plant 93.607% 93.608% 93.635%

Gross Total Ag Production (gr) 439,230 426,770 539,924

Conc -Ag (Grms/DMT) 58.73 61.98 67.34

Gross Metal Produced

Cu Payable (klbs) 4,808 4,426 5,163

DISTRITO MINERO Jan/08 Feb/08 Mar/08

Gross Metal Produced

Cu Payable (klbs) 32,431 32,443 38,213

0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33%

9,002 9,103 9,033 9,212 9,185 9,351 9,589 8,993 9,279

300,083 293,633 301,102 297,174 296,290 311,686 309,325 299,760 299,335

6,060 6,011 6,073 6,140 6,766 6,750 6,949 6,708 7,479

1,540 1,521 1,651 1,898 1,404 1,481 1,668 1,778 1,413

645 827 500 452 75 253 231 315 189

578 564 629 543 760 687 550