Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2022

Subsequent Events

Schedule of variation in the copper price will determine the margin rate as well as the composition of interest payments (being either cash and/or capitalized to the principal

LME Copper Price	Margin		Payment
<$3.40/lb	12.00	%	100% capitalized / 0% Cash
>$3.40/lb to $3.85/lb	10.00	%	60% capitalized / 40% Cash
>$3.85/lb	8.00	%	0% capitalized / 100% Cash

Schedule of proportions of total payable copper

Time Period	% Payable Copper
Closing to 1st Anniversary of the Closing Date	0%
1st Anniversary of the Closing Date to 5th Anniversary	3.00%
5th Anniversary until 33,000 metric tonnes of Refined Copper delivered to the Purchaser (the “Threshold Quantity”)	4.875%
Thereafter from the date that the Threshold Quantity has been met	2.25%