Fresnillo Plc · LSE:FRES
Fresnillo — Gold Forum Americas 2024
19 slides from Fresnillo's conference presentation, Sep 16, 2024
Slide 1: Gold Forum Americas 2024
GOLD FORUM AMERICAS 2024 O C TAV I O A LV Í D R E Z , C E O 16 SEPTEMBER 2024 LSE: FRES BMV: FRES www.fresnilloplc.com
Slide 2: Disclaimer
DISCLAIMER 2 This document includes statements that are, or may be deemed to be, “forward-looking A number of factors could cause results and developments to differ materially from those statements”. These forward-looking statements can be identified by the use of forward- expressed or implied by th
Slide 3: Fresnillo at a Glance
F R E S N I L L O AT A GLANCE
Slide 4: Fresnillo at a Glance
G O L D F O R U M A M E R I C A S 2 0 2 4 - F R E S N I L L O AT A G L A N C E 4 Operating Mines Reserves Reserves 2 Asset Type Main metal EBITDA 4 4 Year (Silver) (Gold) 1 Fresnillo Underground Silver primary US$93.1m 98.8 moz 272 koz 1554 2 Saucito Underground Silver primary US$123.5m 110.9 moz 41
Slide 5: Investment Proposition
INVESTMENT PROPOSITION
Slide 6: Delivering Long-Term Value – Operational and Financial Highlights
GOLD FORUM AMERICAS 2024 6 DELIVERING LONG-TERM VALUE – OPERATIONAL AND FINANCIAL HIGHLIGHTS WORLD’S #1 SILVER SUBSTANTIAL GOLD HIGH QUALITY PRODUCER PRODUCTION MINING ASSETS 56.3 Moz of silver in 2023 28.2 Moz of silver in 1H24 610.6 koz of gold in 2023 270.9 koz of gold in 1H24 2.2Boz 37.9Moz Silv
Slide 7: Silver & Gold Markets
G O L D F O R U M A M E R I C A S 2 0 2 4 – S I LV E R & G O L D M A R K E T S 7 D E M A N D F O R S I LV E R A N D G O L D H A S C O N T I N U E D T O I N C R E A S E GLOBAL DEMAND FOR GOLD (MOZ) DEMAND FOR GOLD HAS REMAINED STABLE IN SPITE OF VOLATILITY +0.4% CAGR • Increased demand for consumer e
Slide 8: Production – High Quality Assets
GOLD FORUM AMERICAS 2024 - HIGH QUALITY ASSETS 8 160 200 PRODUCTION (EQ AG OZ) PER THOUSAND… PRODUCTION EQ AG MOZ) PRODUCTION (EQ AG OZ) PER THOUSAND SHARES 120 150 PRODUCTION 80 100 40 50 - - 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 6,000 8.0 RESOURCES (E
Slide 9: Disciplined Approach to Development
GOLD FORUM AMERICAS 2024 – DISCIPLINED APPROACH TO 9 DEVELOPMENT Commercial production at Commercial production at Saucito II San Julián phase II Juanicipio project construction Soledad-Dipolos began Noche Buena began commissioning commissioning completed in 4Q21 n Peñoles acquired Commissioning and
Slide 10: 1H Operational Performance Highlights
G O L D F O R U M A M E R I C A S 2 0 2 4 – 1 H 2 4 O P E R AT I O N A L P E R F O R M A N C E 10 HIGHLIGHTS ATTRIBUTABLE HALF YEAR SILVER ATTRIBUTABLE HALF YEAR GOLD PRODUCTION PRODUCTION 28.2MOZ 270.9KOZ • Short term challenges in Q2 in Herradura have been overcome, with a promising outlook in H2
Slide 11: Disciplined Approach to Development
GOLD FORUM AMERICAS 2024 – DISCIPLINED APPROACH TO DEVELOPMENT 11 2024 Forecast: US$170m 51% Mine Operations Development Projects 24% PEA Feasibility (Rodeo, Tajitos, (Orisyvo) Guanajuato) Advanced exploration (Pilarica/Perú, San Juan, Candameña, Lucerito) 18% Early stage drilling (14) (Mexico Nuevo
Slide 12: Projects – Solid Project Pipeline for the Future
GOLD FORUM AMERICAS 2024 – PROJECTS 12 SOLID PROJECT PIPELINE FOR THE FUTURE ORISYVO (GOLD) RODEO (GOLD) GUANAJUATO (SILVER / GOLD) TAJITOS (GOLD) Promising results in 1H24 from studies Good metallurgical recoveries have Continued exploration in 1H24, with core During 1H24, 10,524 metres of core and
Slide 13: Environment, Community Relations – HSECR
GOLD FORUM AMERICAS 2024 – HSECR 13 S U S TA I N A B I L I T Y I S C O R E T O O U R P U R P O S E : “ T O C O N T R I B U T E T O T H E W E L L B E I N G O F P E O P L E T H R O U G H T H E S U S TA I N A B L E M I N I N G O F S I LV E R A N D G O L D ” HEALTH ENVIRONMENT COMMUNITY & SAFETY RELATIO
Slide 14: Strong Balance Sheet, Underlined by Demonstrated Solid Financials
G O L D F O R U M A M E R I C A S 2 0 2 4 - S T R O N G B A L A N C E S H E E T, U N D E R L I N E D B Y 14 D E M O N S T R AT E D S O L I D F I N A N C I A L S REVENUES EBITDA and EBITDA MARGIN US$mm US$mm 2,500 1,200 60% 48% 45% 2,000 900 40% 1,500 31% 2,703 2,705 600 1,206 24% 2,430 2,433 1,169 1
Slide 15: 2024 Outlook
2024 OUTLOOK
Slide 16: Expected Attributable Production Profile
G O L D F O R U M A M E R I C A S 2 0 2 4 – E X P E C T E D AT T R I B U TA B L E P R O D U C T I O N P R O F I L E 16 Production guidance range +/- 5% * Including Silverstream production.
Slide 17: Capex Spend Expectations
G O L D F O R U M A M E R I C A S 2 0 2 4 – C A P E X S P E N D E X P E C TAT I O N S 17 • Total sustaining capex for 20244 for all of the mines, along with a small part for new projects approved, is expected to be US$410m • Projects not approved are not considered
Slide 18: Consolidated Outlook
1 2 G O L D F O R U M A M E R I C A S 2 0 2 4 – C O N S O L I D AT E D O U T L O O K 18 1 Greenfield project development to be complemented with brownfield growth possibilities at the Herradura and Guanajuato Centro Districts. (1) Total annual average production Subject to pre-feasability and feasab
Slide 19: Concluding Remarks
GOLD FORUM AMERICAS 2024 – CONCLUDING REMARKS 19 CONTINUE ENHANCING DELIVERING COST INCREASED DIVIDEND INVESTING IN CONTINUED THE SAFETY CULTURE REDUCTION AND TO SHAREHOLDERS IN BROWNFIELD PROGRESS AT OUR ACROSS THE OPERATIONAL LINE WITH OUR PROJECTS TO ADVANCED ORGANISATION EFFICIENCIES IN LINE POL