Pan American Silver Corp. · TSX:PAAS
Pan American Silver — Q1 2023 Earnings Presentation
16 slides from Pan American Silver's earnings presentation, May 11, 2023
Slide 1: Conference Call, May 11
1 CONFERENCE CALL // MAY 11, 2022
Slide 2: Cautionary Note and Non-GAAP Measures
2 expenditures in 2023; future anticipated prices for gold, silver and other metals and hazards, industrial accidents, equipment breakdown, unusual or unexpected and assumed foreign exchange rates; whether Pan American is able to maintain geological or structural formations, cave-ins, flooding and s
Slide 3: Cautionary Note Continued: Technical Information
3 CONTINUED Technical Information Scientific and technical information contained in this presentation with respect to Pan American Silver Corp. has been reviewed and approved by Martin Wafforn, P.Eng., SVP Technical Services and Process Optimization, and Chris Emerson, FAusIMM, VP Business Developme
Slide 4: Production and costs in line with management expectations
4 NYSE: PAAS // TSX: PAAS Production and costs in line with Total available liquidity of $733.4M(1) management expectations Released consolidated production, Declared dividend of $0.10 per cost and capex guidance following common share(2) the Yamana acquisition La Colorada Skarn drill results Revenu
Slide 5: Q1 2023 Financial Results: Revenue, Mine Operating Earnings, Net Income
5 in millions of US$, except per share amounts Q1 2023 Revenue 390.3 Mine operating earnings 77.2 Net income 16.5 Basic income per share(1) 0.08 Adjusted income(2) 21.2 Basic adjusted income per share(1)(2) 0.10 Net cash generated from operating activities 51.3 1. Per share amounts are based on basi
Slide 6: Silver and Gold Production
6 Silver Production Gold Production (ounces ‘000s) (ounces ‘000s) La Colorada 1,432 0.7 Huaron 922 0.3 San Vicente(1) 725 – Manantial Espejo(2) 191 1.7 Dolores 544 26.5 Shahuindo 66 38.8 La Arena 9 20.1 Timmins 4 34.5 Total 3,891 122.7 1. San Vicente data represents Pan American's 95.0% interest in
Slide 7: Cash Costs and AISC
7 Cash Costs(1) AISC(1) ($ per ounce) ($ per ounce) 1. Cash Costs and AISC are non-GAAP measures. Please refer to the “Alternative Performance (Non-GAAP) Measures” section of this La Colorada 15.58 17.94 MD&A for a detailed description of these measures and where appropriate a reconciliation of the
Slide 8: Q1 2023 Realized Metal Prices
8 Realized Metal Payable Metal Quantities of Metal Q1 2023 Prices(1) Produced(2,3,4) Sold(2) Silver $22.75 3,667 4,446 Gold $1,895 122.1 133.4 Zinc $3,133 8.9 10.8 Lead $2,160 4.9 5.3 Copper $8,903 0.9 0.9 1. Metal price stated as dollars per ounce for silver and gold, and dollars per tonne for zinc
Slide 9: Payable Metal Produced, Sold and Inventory Build/Draw
9 Silver Gold Mine/Product Payable Metal Quantities of Inventory Produced(1,2) Metal Sold build/(draw) 779.5 thousand ounces 11.3 thousand ounces drawn drawn Silver (thousand ounces) La Colorada 1,349.9 1,629.1 (279.2) Huaron 810.3 830.7 (20.4) San Vicente 695.4 728.4 (32.9) Metal Metal Sold Mananti
Slide 10: Cash Flow Performance
10 Growth, Business Development, and Other Sustaining Cash Flow Performance $700 $59 $7 $600 $105 ($49) ($20) $513 $500 ($19) ($11) $260 $400 Millions $300 $116 $8 ($32) $200 $181 ($31) $142 ($21) ($1) $100 $0 Cash and STI Adjusted Net changes in Sustaining Net income Dividends paid Net other (e.g.
Slide 11: Q1 2023 Basic Adjusted Net Earnings $0.10/share
11 Q1 2023 Basic Adjusted Net Earnings $0.10/share (1) $60 $2.6 $0.4 $50 $12.7 ($0.2) ($0.4) ($0.7) ($1.8) ($3.9) $40 $18.9 ($6.9) Millions $30 $21.2 $20 $16.5 ($16.0) $10 $0 Net earnings for Transaction and Severance Closure and Loss from Mineral property, Effect of taxes on Unrealized Unrealized g
Slide 12: 2023 Production and Cost Guidance
12 Silver Production Gold Production Cash Costs AISC (million ounces) (thousand ounces) ($ per ounce)(1) ($ per ounce) (1) Silver Segment: La Colorada (Mexico) 5.5 – 5.9 3 14.00 – 15.50 17.00 – 18.50 Cerro Moro (Argentina)(2) 3.6 – 3.9 77 – 85 5.50 – 8.80 11.00 – 14.50 Huaron (Peru) 3.6 – 3.8 – 5.80
Slide 13: 2023 Capital Expenditures Guidance
13 Expenditures ($ millions) Sustaining Capital Project capital invested to advance La Colorada (Mexico) 15.0 – 16.0 strategic goals: Cerro Moro (Argentina) 20.0 – 21.0 Huaron (Peru) 17.0 – 18.0 • Continued exploration and in- San Vicente (Bolivia)(1) 3.5 – 4.5 fill drilling on the La Colorada Jacob
Slide 14: Total Available Liquidity
14 Cash + Short Term Investments(3) //Prudent balance sheet management reduces risk, improves long-term shareholder returns TOTAL AVAILABLE LIQUIDITY $425.0M $308.4M $733.4M (3) Balance sheet management √ Total debt(2) of $1,187M related to senior notes, the SL- Credit Facility, and construction loa
Slide 15: To join the queue
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Slide 16: Audio and presentation archive
The audio and presentation archive of this conference call and webcast will be accessible on our website at: https://www.panamericansilver.com/investors/events-and-presentations/