Andre Lauzon: Yeah, sure. It’s a good question. So there’s some further optimization around the plans. Pending, getting our permits, as Eugene had mentioned previously, is we’ll be really accelerating getting a partner and moving into feasibility. So Javier and team, pending the timing of those permits, we’ll be looking at building our team in Arizona to support those feasibility studies and advancing it to the next stages pre-construction. So the first steps will be wrapping up the team, getting the right people in place to deliver those feasibility studies, and that’ll probably be later in the year.
Peter Kukielski: But the work… [Multiple Speakers]
Jackie Przybylowski : That was fantastic. Thanks very much.
Peter Kukielski: The work really right now is focused on supporting the permitting application process and readiness for the JV process.
Andre Lauzon: Correct.
Jackie Przybylowski : Got it.
Operator: And your next question – sorry, [Operator Instructions]. And your next question comes from the line of Stefan Ioannou from Cormark Securities. Your line is open.
Stefan Ioannou : Great. Thanks very much. And again, congratulations on a great quarter as promised. Just maybe a sort of a general question that might not have a simple answer, but just kind of curious. Obviously, a lot of focus on still deleveraging and the balance sheets, health and stuff. Just wondering if you could maybe comment on sort of just your strategic sort of hierarchical thinking of various opportunities. Mainly how does exploration stack up against some other things like Copper World and deleveraging itself and sort of the grand scheme of how you plan to spend money over the foreseeable future?
Peter Kukielski: Hi, Stefan. Morning, and thanks for your kind words. I think if I step back, right now what we’re doing is all about delivery. Exploration of course is a key component of planning for the future. And like Andre said, we are super excited by both, the scale and intensity and potential of the exploration efforts in Manitoba. We will continue to do some exploratory work associated with the Mason Project through the rest of this year and into next year in order to bring that along, but those are not big dollar numbers. Outside of that, we are razor focused on getting access to the Maria Reyna and Caballito properties to start exploring as soon as possible. And so, that’s a key initiative to advance that. But the spending there is more in the context of associated with the regulatory regime of getting the drilling permits in hand.
But strategically, once we have those, we’re going to go flat out. So exploration does comprise a big part of our strategy going forward. But as I said, delivery is key. So delivery in the context of Copper Mountain, stabilizing and optimizing that is a key strategic initiative for us and advancing Copper World towards a sanctioning decision. I would also say that – I mean I’ve always said that we have a very skilled team when it comes to efficient operations and development of projects. And I do continue to feel that we can create value, both from operating and at least from both, improving what we have, developing our project pipeline, but also adding another operating asset to our portfolio if indeed we can find one and if it’s going to be accretive to our shareholders.
So we continue to look for those assets, but we’re very, very focused on delivery at that point, because we think that will provide us with the license for the other stuff that we want to do.
Stefan Ioannou : Okay, great. That’s helpful. Thanks very much.
Operator: Your next question comes from the line of Dalton Baretto from Canaccord Genuity. Your line is open.
Dalton Baretto : Thanks. Good morning, Peter, and team. I wanted to start by asking about Copper Mountain. There’s some language in the disclosure that suggests that your estimates around reserves will be closer to the old Jan 2019 estimate versus the September 22, and it’s a considerably lower number. I’m just wondering, what’s driving that? Is it just the removal of the expansion or is there something else that’s driving that?
Peter Kukielski: I’ll start with a sort of broader comment, Dalton. First, morning, and thank you for that. The 2022 technical report that Copper Mountain issued was based on very optimistic assumptions on all aspects of the 2022 Life of Mine Plan, and that’s the reason why we never endorsed it. Our acquisition process was based on an internal mine developed by a mine plan that was developed by us from the information made to us – available to us by Copper Mountain and was more in line with the reserves and mill throughput assumptions in technical reports published by Copper Mountain prior to 2020. So we never, absolutely never endorsed their 2022 plan. And as I say, the work that we did was more aligned with their prior plans. But Andre, do you want to expand on that?
Andre Lauzon: I think you covered it off quite well. The teams have used the same approach in resource modeling that we do at all of our operations, whether it’s in Peru at Constancia, where we’ve been mining for a number of years and our models as you know reconcile very, very well to our forecasts and what we produce. We use the same methodology at Copper World. And so the teams have worked rigorously on database validation, generating models and we actually have a model now that reconciles very, very well to the mill. Over the last couple of months, our new model has reconciled very, very close, and that gives us a lot of confidence in terms of building our technical report and plans and forecasts going forward. I think that’s something that Copper Mountain has struggled with in the past, was the reconciliation of their block models to the mill.
And so I would say that we’ve applied our technologies. We haven’t tried to justify the 2022 resource, I think, in terms of the overall, but I feel very strongly on the ones that we have today. So in terms of the overall, we’re not planning, as Peter kind of talked, to mention a little bit is about the endorsement of their 2022 plan. Our intention is, why we say back to the 2019 is, it’s about a 45,000 ton a day technical report, and we’re leaning towards something like that with some potential expansion potential, but not the 65,000 ton a day plan that’s currently in – that was posted in the 2022 model.
Dalton Baretto : Got it. Thank you for that. And then I know the report’s coming out in the next couple of weeks, but can you give us some sense on the accelerated stripping campaign, just in terms of scope and what the capital implications are for next year for that mine?
Andre Lauzon: We’re still working on it, we’re still working on it. But with the ramp up that we’re planning to get to, like Peter said, to the 26 trucks by December, that throughput will be very, very close to the stripping rate that’s required on an annual basis. So we’re still doing a little bit of fine tuning. So it’s a little bit premature to say exactly the amount, but it’s in that range. And so like, by December we should be in the 200,000 to 250,000 tons a day of total material movement in that range.
