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Lundin Mining Corporation (LUN:CA) Discusses Preliminary Economic Assessment and Development Plan for Vicuna Project Transcript

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Lundin Mining unveiled a preliminary economic assessment (PEA) for its Vicuña copper project on February 17, 2026, outlining a full-scale development plan during a CEO-led investor call. The PEA highlights Vicuña’s potential as a high-grade copper asset, with updated mineral resource estimates supporting a 15-year mine life and projected annual production of 100,000+ tonnes of copper equivalent. CEO Jack Lundin emphasized the project’s strategic value amid rising copper demand, positioning it as a key growth driver for the company’s long-term portfolio in South America. Analysts from major banks (Scotiabank, Goldman Sachs, UBS) participated in the call, probing financial viability, capex estimates, and timeline risks, signaling strong institutional interest in the project’s economics. The company cautioned that the PEA remains preliminary, with further feasibility studies and permitting required before final investment decisions, though initial feedback suggests robust investor confidence.
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SA Transcripts158.45K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Lundin Mining Corporation (LUN:CA) Discusses Preliminary Economic Assessment and Development Plan for Vicuna Project February 17, 2026 10:00 AM EST Company Participants Jack O. Lundin - President, CEO & DirectorTeitur Poulsen - Executive VP & CFO Conference Call Participants Orest Wowkodaw - Scotiabank Global Banking and Markets, Research DivisionRalph Profiti - Stifel Nicolaus Canada Inc., Research DivisionIoannis Masvoulas - Morgan Stanley, Research DivisionDavid DicaireLawson Winder - BofA Securities, Research DivisionJohannes GrunseliusCraig Hutchison - TD Cowen, Research DivisionAnita Soni - CIBC Capital Markets, Research DivisionStefan Ioannou - ATB Cormark Capital Markets Inc., Research DivisionDalton Baretto - Canaccord Genuity Corp., Research DivisionMatthew Greene - Goldman Sachs Group, Inc., Research DivisionDaniel Major - UBS Investment Bank, Research Division Presentation Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lundin Mining project update. [Operator Instructions] Please be advised that today's conference is being recorded. I would like now to turn the conference over to Jack O. Lundin, President and Chief Executive Officer. Please go ahead. Jack O. LundinPresident, CEO & Director Thank you very much, and good morning, everyone. It's an honor to be here today to be able to present the results of the preliminary economic assessment for the Vicuna project. I will be making forward-looking statements as well as the team that will be with me today, and answering questions. And so therefore, we encourage you all to look at this press release, look at this slide and go on to our website for more details on the cautionary statements. So the agenda today is as follows. We're going to walk through the highlights of the PEA. We're going to get into the details of the full-scale Vicuna project. We'll also talk about the recently updated mineral resource estimate that supports this preliminary economic assessment. We're going to get

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