Kodiak Copper Corp. (KDK) Earnings Call Transcript & Summary

Hello, and welcome. My name is Claudia Tornquist. I'm the President and CEO of Kodiak Copper. Today, I'm joined by Dave Skelton, our Vice President of Exploration, to talk about our most recent news, the positive results from our initial metallurgical test program at our MPD Copper-Gold Porphyry Project in Southern British Columbia.

So right over to you, Dave, please give us a quick overview of the test work, what we did, the results and what it all means.

Sure. Thanks, Claudia. So the test work involves collecting representative samples of drill core from 6 zones across the MPD project. And from those samples, we created 3 composite samples that have different grades ranging from low to high grades. Those samples were then subjected to industry standard flotation methods to assess how well the copper, gold and silver could be recovered. And as you say, the results were positive. The results confirmed that the MPD mineralization is amenable to conventional processing and can produce a clean salable concentrate, which is quite important. We saw copper rougher recoveries in the tests up to 90%, strong gold and silver recovery, and we also produced a high-quality copper concentrate exceeding 26% copper.

So all in all, very encouraging. One of the results that stood out for me was the gold content in the copper concentrate. Can you speak some more about that?

Yes. So all 3 of the samples had meaningful gold values. They range between 6.2 and 16.9 grams per tonne, which is important because having gold credits in your concentrate has a potential to enhance the economics for the project. So it's quite important. We also believe there's upside because we found that some of the gold follows the sulfides in the samples. And we believe that there's an opportunity for further recovery. We just need to do some more testing to determine that.

All in all, a very positive first metallurgical program. There will be more metallurgical testing as we advance and optimize the MPD project. But for now, we have the inputs we need for our maiden resource estimate that we are working on. And I'm looking forward to reporting back on this important milestone and catalysts for our company in the very near future. So for now, thanks for listening in. If you have any further questions, there's always our website and social media, and please don't hesitate to get in touch anytime.