A sustainable and scalable operation for ~17 years with

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Ulf53
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A sustainable and scalable operation for ~17 years with strong cash flow The Rovina Valley Project, is one of the largest undeveloped copper-gold assets in the world, with 10.1 Moz of gold equivalent (7 million ounces of gold and 233 thousand tonnes of copper), RVP’s porphyry system allows ESM to construct a simple and large-scale operation. RVP is the 14th largest undeveloped asset in the world and the 2nd largest undeveloped asset in Europe.



Definitive Feasibility Study 2021 base case
increased since then, expansion done

Gold US$1,550/oz & Copper US$3.30/lb
Pre-tax NPV: $447M
(Gold and Copper's prices are higher today!)

IRR: 19.2%

Free cash flow: $713mln


Well financed with very strong majori .shareholders

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Robert