Compania De Minas Buenaventura Saa · BVL:BUENAVC1
Compania De Minas Buenaventura Saa — Compañía de Minas Buenaventura — Q4 2023 Earnings Presentation
15 slides from Compania De Minas Buenaventura Saa's earnings presentation, Mar 1, 2024
Slide 1: 4Q23 Earnings Results Conference Call
4Q23 Earnings Results Conference Call
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains certain information that may constitute forward-looking information under applicable U.S. securities legislation, including but not limited to information about costs applicable to sales, general and administrative expenses; production volumes; current
Slide 3: Agenda
Agenda 1 FY23 Highlights 2 Resources and Reserves 3 2024 Guidance 4 San Gabriel Progress 5 Closing remarks 3
Slide 4: FY23 Highlights
FY23 Highlights EBITDA Direct Operations (1) Successful 2023 explorations replenished In US$ millions US$ 127.3 M FY23 CAPEX investment in Cu, Ag and Au resources & reserves with 238.3 San Gabriel confirms construction ramp-up remarkable results in Yumpag +38% and to produce first gold bar by 2H25 1
Slide 5: All-in Sustaining Cost and Costs Applicable to Sales
All-in Sustaining Cost(1) Costs Applicable to Sales ↓10% Copper AISC (US$/TMF-Cu Eq) 6,631 6,787 6,687 6,571 6,738 6,613 6,227 6,031 5,964 El Brocal: Copper 6,427 US$/TMF-Cu 10.8ktpd ramp-up in ↓8% 5,884 5,047 underground mine 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 FY22 FY23 ↓3% 25.5 24.4 FY22 FY23
Slide 6: Free cash flow generation
Free cash flow generation FY23 Cash generation FY23 EBITDA to FCF reconciliation In US$ millions In US$ millions (1) Notes: (1) Considers US$ 33 M of advanced payments related to San Gabriel project
Slide 7: Focus on four flagship assets, building our pipeline of diverse projects
Focus on four flagship assets, building our pipeline of diverse projects and increased LOM position us as a mining leader... Ag Yumpag Yumpag completed construction Cu El Brocal El Brocal underground mine expansion @ 12ktpd by 2025 Au San Gabriel ramp-up and San Gabriel first gold bar by 2H25 Cu Cer
Slide 8: Flagship mines: 10 years of uninterrupted reserves and resources extraction
Flagship mines: ↑10 years of uninterrupted reserves and resources extraction Copper Silver Gold Others Others El Brocal 8% 35% 4% San 1.9 Mton 128 MOz 2.8 MOz Gabriel 69% Trapiche Uchucchacua 65% El Brocal & Yumpag El Brocal 33% 59% 27% Reserves Resources Others 8% Others San El Brocal 10% Gabriel 3
Slide 9: 2024 Guidance: stable copper, Yumpag boosting silver, lower gold
2024 Guidance: stable copper production at El Brocal, Yumpag boosting silver and lower gold production driven by lower grades Copper Silver Gold Kton-Cu MOz-Ag kOz-Au 60 15.2 +3% 155 -12% 58 137 +65% 13.5 55 9.2 123 FY23 FY24E FY23 FY24E FY23 FY24E CAPEX Growth ~$20M $320M San Gabriel ~$220M - $300M
Slide 10: San Gabriel: Our next large gold project
San Gabriel: Our next large gold project Cumulative progress: Project Milestones Item Description 1Q23 2Q23 3Q23 4Q23 1 Engineering 66% 81% 90% 92% Authority admitted Start of UG Concrete Plant 2 Procurement 85% 85% 89% 89% power line EIA mining contractor installation completed 3 Construction 3% 7%
Slide 11: San Gabriel: Our next large gold project 3Q23
San Gabriel: Our next large gold project 3Q23 Processing Plant Earth movement
Slide 12: San Gabriel: Our next large gold project 4Q23
San Gabriel: Our next large gold project 4Q23 Processing Plant Earth movement
Slide 13: San Gabriel: Our next large gold project 3Q23 4Q23
San Gabriel: Our next large gold project 3Q23 4Q23 San Gabriel Campsite Main Storage Area
Slide 14: Closing Remarks
Closing Remarks 1 San Gabriel allow us to stabilize gold production at 130k – 150k Oz-Au yearly in the mid term. On track as we aim for our first gold bar by 2H25 2 The ongoing success of Yumpag confirms its status as a world-class asset, marked by consistently high silver grades. Definitive operati
Slide 15: Q&A
Bucnave NTURA Q&A
Compañía de Minas Buenaventura — Q4 2023 Earnings Presentation on 6ix