Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (June 2022)
32 slides from Equinox Gold's investor presentation, Jun 25, 2022
Slide 1: The Premier Americas Gold Producer
equinoxgold.com The Premier Americas Gold Producer CORPORATE PRESENTATION June 25, 2022
Slide 2: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking obtain all necessary permits, licenses and regulatory approvals in a timely manner or at all, including for the RDM statements within the meaning of applicable securities l
Slide 3: Equinox Gold: The Premier Americas Gold Producer
Equinox Gold: The Premier Americas Gold Producer 6 1 4 Gold Mine in Growth Mines Commissioning Projects 30 Moz Greenstone (60%) Castle Mountain / Expansion 16 Moz Mesquite P&P Gold M&I Gold Reserves Resources1 ~625 Koz ~$465 M Aurizona / Expansion Santa Luz Los Filos / Expansion Gold Production Tota
Slide 4: Greenstone Project: Construction Underway
Greenstone Project: Construction Underway Building one of the largest gold mines in Canada • Developed by Equinox Gold (60%) and Orion (40%) • More than 5 Moz of gold over initial 14-year mine life1 • More than 400,000 oz/year production for first five years1 • Excellent infrastructure, adjacent to
Slide 5: Greenstone Project: Tracking on Time, on Budget
Greenstone Project: Tracking on Time, on Budget Capex updated in Q4 2021 before construction began • $1.23 B initial capital (C$1.53 B)1 (100% basis) - Updated from 2020 feasibility to consider inflation pressures - Used firm supplier quotes following detailed engineering - Schedule review to consid
Slide 6: Greenstone Project: Construction Progress
Greenstone Project: Construction Progress Power plant Crusher Thickening Leaching Reagent HPGR cold storage West Concrete end mill Mill building and batch plant grinding area Fuel Administration depot Construction office Water office Truck treatment shop plant 6
Slide 7: Santa Luz Mine: Ramping up to Commercial Production
Santa Luz Mine: Ramping up to Commercial Production First gold pour March 30, 2022 • Past producing mine: refurbished existing infrastructure and retrofitted processing plant • $103 M construction capex • Initial 9.5-year mine life • Average 100,000 oz gold/year • Completed construction with no lost
Slide 8: Operating Mines: USA, Mexico, Brazil
Operating Mines: USA, Mexico, Brazil Mesquite Mine, USA Aurizona Mine, Brazil 2022: 120,000-130,000 oz of gold 2022: 120,000-130,000 oz of gold Exploration for mine life extension Expansion to +150,000 oz of gold Castle Mountain, USA Fazenda Mine, Brazil 2022: 25,000-35,000 oz of gold 2022: 60,000-6
Slide 9: Investing for Growth and Long-term Production
Investing for Growth and Long-term Production ~600 Koz incremental growth from existing assets Revaluation potential with growth • Enhanced scale and diversity with Greenstone • Increased production, higher cash flow,1.1x lower costs • Catalyst rich investment plans • Enhanced diversification across
Slide 10: Committed to Responsible and Ethical Mining
Committed to Responsible and Ethical Mining 2021 Environmental, Governance & Social (ESG) Report published May 4, 2022 Launched new ESG portal at www.EquinoxGold.com ENVIRONMENT SAFETY ENERGY & GHG COMMUNITIES New Environment & Climate Beat 2021 safety targets, Achieved 2021 short-term Installed wat
Slide 11: Peer-leading Insider Ownership
Peer-leading Insider Ownership Insider Ownership2 8% 0.5% Equinox Gold Ross Beaty Equinox Gold Shareholders1 13% Other Insiders High Net Worth 56% Retail/Other 16% Corporate 6% Institutional USA Geographic 30% 35% Europe Location Australasia South America Canada 2% 2% 15% Source: Company filings, Fa
Slide 12: Funded to Deliver Growth
Funded to Deliver Growth Cash1 Bank Debt3 Cash Flow Strong balance sheet and cash Unrestricted cash Term loan 2022 all-in sustaining flow funds ~$265 M ~$80 M drawn margin4 at $1,800 Au growth >$300 M5 Corporate revolver Total liquidity $200 M drawn ~$465 M2 $200 M available ~$465 M ~$300 M Total li
Slide 13: Creating the Premier Americas Gold Producer
Creating the Premier Americas Gold Producer Canada USA 3.3 Moz Reserves2 ~240 Koz annual production2 4.6 Moz Reserves First production in H1 2024 ~155 Koz annual production >300 Koz with expansions1 Mexico Brazil 3.6 Moz Reserves 4.5 Moz Reserves ~345 Koz annual production ~170 Koz annual production
Slide 14: Appendix
Appendix 14
Slide 15: Equinox Gold: Corporate Summary
Equinox Gold: Corporate Summary Common Shares 1 303.5 M Avg. Daily Trading Value 5 ~ C$13 M + US$13 M Unlisted Warrants @ avg. C$5.30 1,2 0.6 M Cash 6 ~ US$265 M Options @ avg. C$6.62 1,2 2.1 M Net Debt 7 ~ US$385 M Restricted Share Units 3 4.5 M Convertible Notes @ avg. US$6.52 8 US$278.9 M Fully D
Slide 16: 2022 Guidance: Investing for Growth and Long-term Production
2022 Guidance: Investing for Growth and Long-term Production Production Cash Costs1 AISC1,2 Sustaining Growth (ounces) ($/ounce) ($/ounce) Capital ($M)1 Capital ($M)1 Fourth consecutive year of production Los Filos 160,000-180,000 $1,400-$1,475 $1,625-$1,700 $38 $62 growth Mesquite 120,000-130,000 $
Slide 17: 2022 Guidance: Investing for Growth and Long-term Production
2022 Guidance: Investing for Growth and Long-term Production Non-sustaining capex lower in H2 following Santa Luz completion Sustaining Capex Sustaining Capex Non-Sustaining • Los Filos: Open-pit waste stripping ($13M), underground development ($7M), (M$) Capex (M$) fleet rebuilds and processing equ
Slide 18: Delivering on our Growth & Diversification Strategy
Delivering on our Growth & Diversification Strategy 2018 2019 2020 2021 • Financed and commenced • Refinanced our debt • Added four producing mines and a • Added Greenstone project, construction of Aurizona Mine • Mubadala as strategic development-stage project with Mercedes mine and portfolio of •
Slide 19: Significant Production and Reserve Growth in Four Years
Significant Production and Reserve Growth in Four Years 1,200,000 16.4 Moz Annual Gold Production Attributable Gold Reserves Annual Gold Production (oz) 12.1 Moz 600,000 5.7 Moz 5.6 Moz 0.9 Moz 0 2018 2018 2019 2019 2020 2020 2021 2021 2022E 2022 1 Mid-2020s 2023 2 + Mesquite + Aurizona + Leagold +
Slide 20: Value Add Per Share
Value Add Per Share Reserve/Resource Growth Operating Cash Flow Growth Production Growth per 1,000 Shares per 1,000 Shares per 1,000 Shares 120 $1,200 4 Mineral Reserves & Resources (oz Au/1,000 shares) Annual Production (oz Au/1,000 shares) Operating Cash Flow ($/1,000 shares) 1 100 $800 3 80 60 $4
Slide 21: Track Record of Value Creation
Track Record of Value Creation1 2018 2019 2020 2021 Buy: Mesquite Build: Aurizona Launch: Solaris Resources Create: i-80 Gold Acquisition cost: Construction cost: Spin-out to shareholders: Created new company: $158 M $160 M $160 M3 (Equinox Gold interest) $130 M3 (Equinox Gold interest) Value creati
Slide 22: Greenstone Project: Highlights (100% basis)
Greenstone Project: Highlights (100% basis)1 Substantial gold resource Average annual gold production Long-life low-cost mine 5.5 Moz P&P Reserves >400 koz first five years 5.1 Moz life-of-mine production 7.1 Moz M&I Resource (inclusive) >360 koz life of mine AISC in lowest industry quartile Constru
Slide 23: Santa Luz: Site Facilities
Santa Luz: Site Facilities Crushing area Mine pit Plant area 23
Slide 24: Aurizona Underground Expansion: Highlights (Sept 2021 PFS)
Aurizona Underground Expansion: Highlights (Sept 2021 PFS) • After-tax NPV5% of $314 M at $1,500/oz gold ($600 M at $1,800/oz gold) • $464 M after-tax LOM cumulative net cash flow at $1,500/oz gold ($830 M at $1,800/oz gold) • $803/oz avg LOM cash costs • $944/oz avg AISC from Year 3 onward and $1,0
Slide 25: Aurizona: Near-mine and District Exploration Potential
Aurizona: Near-mine and District Exploration Potential 25
Slide 26: Bahia: District-scale Potential Between Fazenda – Santa Luz Mines
Bahia: District-scale Potential Between Fazenda – Santa Luz Mines 26
Slide 27: Castle Mountain: Easy Site Access, Synergies with Mesquite Mine
Castle Mountain: Easy Site Access, Synergies with Mesquite Mine Phase 2 permitting underway Castle Expansion will be Mountain contained within existing approved mine boundary Mesquite 27
Slide 28: Equinox Gold: Proven & Probable Mineral Reserves
Equinox Gold: Proven & Probable Mineral Reserves 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) Aurizona 16,581 1.39 740 15,749 1.82 920 32,330 1.60 1,660 Castle Mou
Slide 29: Equinox Gold: Measured & Indicated Mineral Resources
Equinox Gold: Measured & Indicated Mineral Resources1 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) Aurizona 19,849 1.40 892 29,994 1.86 1,797 49,844 1.67 2,689 Castl
Slide 30: Equinox Gold: Inferred Mineral Resources
Equinox Gold: Inferred Mineral Resources Contained Gold Mine Tonnes (kt) Grade (g/t) (koz) Aurizona 13,067 2.18 915 Castle Mountain 86,271 0.58 1,608 Mesquite 85,419 0.34 928 Los Filos 98,204 0.83 2,633 RDM 3,614 1.94 226 Fazenda 3,296 1.51 160 Santa Luz 7,265 2.07 483 1 Greenstone 15,300 3.78 1,857
Slide 31: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Los Filos Mine Complex is summarized, derived, or Scientific and technical information concerning the Hasaga Property is summarized, derived, or extracted extracted from the “Independent Technical Rep
Slide 32: ir@equinoxgold.com www.equinoxgold.com
+1 604.558.0560 ir@equinoxgold.com www.equinoxgold.com 32 TSX: EQX | NYSE-A: EQX