Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (August 2024)
34 slides from Equinox Gold's investor presentation, August 2024
Slide 1: Creating the Premier Americas Gold Producer
Creating the Premier Americas Gold Producer CORPORATE PRESENTATION August 2024
Slide 2: www.ridetogreenstone.com
www.ridetogreenstone.com 2
Slide 3: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking statements developments to differ materially from those expressed or implied by such forward-looking statements and information within the meaning of applicable securities
Slide 4: Creating the Premier Americas Gold Producer
Creating the Premier Americas Gold Producer In its first six years, Equinox Gold has grown from a single-asset developer to a diversified gold producer. We acquired one mine and two companies, built three mines, sold two mines, created three new companies and are commissioning one of Canada’s larges
Slide 5: Equinox Gold: A Diversified Gold Producer
Equinox Gold: A Diversified Gold Producer 8 3 GREENSTONE PRODUCING MINES EXPANSION PROJECTS CASTLE MOUNTAIN / EXPANSION ~19 ~17 MESQUITE Moz Moz P&P GOLD RESERVES M&I GOLD RESOURCES1 LOS FILOS / EXPANSION AURIZONA / EXPANSION Path to achieve SANTA LUZ 1+ Moz FAZENDA ANNUAL GOLD PRODUCTION2 RDM 1. M&
Slide 6: Consolidating Greenstone Brings Significant Benefits
Consolidating Greenstone Brings Significant Benefits Acquiring the additional 40% interest in Greenstone gives EQX • Increased gold production – Additional 160,000 oz of gold per year for first five years (144,000 per year LOM)1 • Improved cost structure – Greenstone will contribute ~40% of EQX annu
Slide 7: Additional Low-cost Gold Production Increases Cash Flow
Additional Low-cost Gold Production Increases Cash Flow Increased Production, Reduced Costs1 Increased EBITDA2 1,200 $1,800 $1,000 $800 Equinox Gold Anticipated Annual EBITDA Anticipated Annual Gold Production 900 $1,350 Anticipated All-in Sustaining Costs (Consensus Estimates ‘000 oz) (Consensus Es
Slide 8: Enhanced Diversification into Top-tier Mining Jurisdiction
Enhanced Diversification into Top-tier Mining Jurisdiction Current Consensus Net Asset Value Pro Forma Consensus Net Asset Value by Region by Region1 with Additional 40% of Greenstone1 Brazil Brazil 28% 22% Canada 39% Canada 52% 15% USA 19% 11% 14% USA Mexico Mexico 1. Based on analyst consensus dat
Slide 9: Peer-leading Growth Profile
Peer-leading Growth Profile Price to NAV (x) Total Reserves (Moz Au) 2025E Production (Moz Au) ’23A-’25E Prod. Growth (%) Alamos 1.27x Northern Star 20.2 Northern Star 1.9 PFPF EQX Equinox 78% Northern Star 1.23x PFPF EQX Equinox 19.1 Endeavour 1.4 IAMGOLD 68% Evolution 1.18x EQX Equinox 16.9 B2Gold
Slide 10: Greenstone Will Be a Cornerstone Asset for Equinox Gold
Greenstone Will Be a Cornerstone Asset for Equinox Gold ~400,000 oz gold EXPECTED PER YEAR1,2 14+ year 1.27 g/t gold INITIAL MINE LIFE AVERAGE GRADE ~5.5 Moz ~2.6 Moz P&P RESERVES2 M&I RESOURCES2 1. Average annual production for the first five years. 2. See Technical Disclosure. 10
Slide 11: Greenstone Will Be One of Canada's Largest Gold Mines
Greenstone Will Be One of Canada’s Largest Gold Mines… … And One of Canada’s Highest Grade Open-pit Gold Mines 750,000 2.50 2024F / Long-Term Gold Production (oz) 600,000 2.00 Open-Pit Reserve Grade (g/t gold) 450,000 1.50 300,000 1.00 150,000 0.50 -- -- Source: CapIQ and publicly available informat
Slide 12: Greenstone Will Be One of the World's Lowest-Cost Gold Mines
Greenstone Will Be One of the World’s Lowest-Cost Gold Mines Global Gold Mines Total Cash Cost Curve ($/oz)1 $2,500 $2,000 Greenstone will be in Cash Costs ($/oz of Gold Sold) the lowest quartile of global cash costs2 $1,500 $1,000 $500 $0 Labor Energy Reagents Other Onsite TCRC+Shipment Royalty 1.
Slide 13: Greenstone on Track for Commercial Production in Q3 2024
Greenstone on Track for Commercial Production in Q3 2024 First gold pour Progress at July 31, 2024 Ramp-up First ore introduced into HPGR and progress grinding circuit on April 6 First gold pour on May 22 Produced 16,247 oz in Q2 Throughput Achieved a rolling 30-day average of 59% of nameplate tonna
Slide 14: Opportunities to Extend Greenstone Mine Life, Increase Production
Opportunities to Extend Greenstone Mine Life, Increase Production Greenstone underground • 9.79 Mt at 3.93 g/t gold (1.2 Moz Indicated) and 24.59 Mt at 3.87 g/t gold (3.1 Moz Inferred)1 • Not included in current mine life economics – analysis to be advanced through 2024 Western-most hole (MM170) 18.
Slide 15: Greenstone Near-mine & Belt-scale Exploration Potential
Greenstone Near-mine & Belt-scale Exploration Potential Belt-scale potential Near-mine potential 1 10km 1 Hosts the unexploited Kailey Deposit) • 700 koz within trucking distance1 1. Northern Empire, Sand River and Leitch held 100% by Equinox Gold. • 680 koz high-grade Brookbank deposit1 2km • Explo
Slide 16: Additional ~740,000 oz Production Growth From Cornerstone Assets
Additional ~740,000 oz Production Growth From Cornerstone Assets GREENSTONE MINE ~400,000 oz/year1 With a full year + 400 koz1 of production Ontario, Canada 14-year mine life AURIZONA MINE ~140,000 oz/year2 Mining of underground and + 20 koz Maranhão, Brazil 11-year mine life open-pit deposits concu
Slide 17: Financial Position at June 30, 2024
Financial Position at June 30, 20241 AVAILABLE LIQUIDITY RESILIENCE DEBT Unrestricted cash Ongoing cash flow from Drawn debt3 ~$167 M2 eight producing mines5 $1,095 M Undrawn credit facility3 Undrawn accordion6 Convertible notes7 $105 M $100 M $451 M ($6.04/share avg.) ~$168 M + ~$105 M CASH & EQUIV
Slide 18: Deleveraging Plan
Deleveraging Plan Focus on funding growth through 2024, with a shift in focus to debt reduction 2025+ through significantly increased EBITDA and cash flow from owning 100% of Greenstone Investment focus Deleverage Consolidation & Production at Greenstone Mine3 EBITDA Acquired Premier Gold >$1B Comme
Slide 19: Revaluation As Production Grows Toward 1+ Moz
Revaluation As Production Grows Toward 1+ Moz 1 Moz = Scale, Diversified, Liquidity, Cash Flow Revalue as a Senior Producer2 1.3x Increased Increased 13-year avg. production cash flow mine life1 0.95x 0.74x Reduced Reduced Enhanced costs execution risk diversification EQUINOX INTERMEDIATE SENIOR GOL
Slide 20: 2024 Will Be a Transformative Year for Equinox Gold
2024 Will Be a Transformative Year for Equinox Gold Exposure to strong and rising gold prices Near-term, low-cost production growth from a world-class mine in one of the world’s best mining jurisdictions at the beginning of its mine life Increased cash flow with lower consolidated operating costs Gr
Slide 21: Appendix
TSX: EQX NYSE-A:EOX 1X Append
Slide 22: Corporate Summary
Corporate Summary Common Shares 1 428.5 M Avg. Daily Shares Traded 5 TSX: 1.2 M + NYSE-A: 2.4 M Options @ avg. C$6.11 1,2 0.5 M Cash (at Jun 30, 2024) ~$167 M Restricted Share Units 3 7.8 M Debt (at Jun 30, 2024) 6 Drawn $1,095 M, Available $105 M Potential Shares from Convertible Notes 4 75.4 M Con
Slide 23: 2024 Production and Cost Guidance
2024 Production and Cost Guidance Production Cash Costs1,2 AISC1,2 Sustaining Non-sustaining (ounces) ($/ounce) ($/ounce) Expenditures ($M) 1,2 Expenditures ($M)2 Greenstone3 175,000 - 205,000 $690 - $790 $840 - $940 $32 $159 Mesquite 55,000 - 65,000 $1,345 - $1,445 $1,410 - $1,510 $5 $60 Castle Mou
Slide 24: Aligned With Investors
Aligned With Investors Equinox Gold Shareholders1 Peer-leading Insider Ownership2 6.3% 0.3% Endeavour Mining 18.1% 9% Ross Beaty Equinox 6.6% Other Insiders High Net Worth Evolution 1.0% 53% 20% Retail/Other B2Gold 0.9% Corporate Institutional Eldorado 0.8% 12% SSR Mining 0.7% Geographic Location1 A
Slide 25: Committed to Responsible Mining
Committed to Responsible Mining SAFETY ENVIRONMENT SOCIAL Improved TRIFR1 by 31% Improved SEIFR2 by 54% 99% of employees are from compared to 2022 compared to 2022 country of operations Four sites had no lost-time Five sites had no significant 72% of direct employees are injuries in 2023 incidents i
Slide 26: Bahia: District-scale Potential Between Fazenda and Santa Luz Mines
Bahia: District-scale Potential Between Fazenda and Santa Luz Mines 26
Slide 27: Aurizona: Advancing an Underground Expansion
Aurizona: Advancing an Underground Expansion1 Extend mine life and increase production by mining underground deposit and satellite open- pit deposits concurrently with existing open pit Permits in place for three portal locations Advancing feasibility study Starting portal development in 2025 1. See
Slide 28: Aurizona: Mine Life Extension Along Strike and to North
Aurizona: Mine Life Extension Along Strike and to North2 Numerous deposits within trucking distance of existing plant and surface infrastructure Unexplored structure north of existing Piaba open pit 1. Exploration composites are calculated on uncapped assay values. The samples are from the saprolite
Slide 29: Aurizona: District-scale Potential on EQX Land Package
Aurizona: District-scale Potential on EQX Land Package Numerous regional targets on ~1,100 km2 land package with potential to establish a mining district 29
Slide 30: Proven & Probable Mineral Reserves
Proven & Probable Mineral Reserves1 Proven Probable Proven & Probable Mine/Project Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Mesquite 34 0.79 1 30,264 0.48 470 30,298 0.48 471 Castle Mountain 84,910 0.55 1,4
Slide 31: Measured & Indicated Mineral Resources
Measured & Indicated Mineral Resources1,2 Measured Indicated Measured & Indicated Mine Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Mesquite 81 0.77 2 104,910 0.41 1,382 104,991 0.41 1,384 Castle Mountain 781 0
Slide 32: Inferred Mineral Resources
Inferred Mineral Resources1 Tonnes Grade Contained Mine (kt) (g/t) Gold (koz) Mesquite 84,030 0.34 912 Castle Mountain 69,890 0.63 1,422 Los Filos 135,935 0.74 3,237 Aurizona 12,689 2.19 895 Fazenda 3,283 1.50 158 RDM 3,614 1.95 226 Santa Luz 7,254 2.09 490 Greenstone 24,949 3.83 3,072 Brookbank 751
Slide 33: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Hasaga Property is summarized, derived, or Scientific and technical information concerning the Los Filos Mine Complex is summarized, derived, or extracted from the “National Instrument 43-101 Technica
Slide 34: Contact
+1 604.558.0560 x 119 ir@equinoxgold.com TSX: EQX | NYSE-A: EQX www.equinoxgold.com