Florida Canyon Gold — Argonaut Gold — Q3 2022 Earnings Presentation
19 slides from Florida Canyon Gold's earnings presentation, Nov 4, 2022
Slide 1: Webcast Presentation: Third Quarter Ended September 30, 2022
TSX:AR WEBCAST PRESENTATION Third Quarter Ended September 30, 2022 Conference Call November 4, 2022
Slide 2: Forward Looking Information
FORWARD LOOKING INFORMATION This presentation may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All information, other than statements of historical facts, included in this presentation that address activities, events or developments that the
Slide 3: Recent Highlights
Recent Highlights Significant Construction Progress ◦ Construction is 70% ◦ Formal Operational Readiness and Commissioning progressing Magino Financed ◦ Completed over $500 million in total financing in 2022: ▪ $41M flow through equity raise in March ▪ $150 million equity raise in July ▪ $250 millio
Slide 4: Magino Financing Completed
Magino Financing Completed Financing completed and announced October 27, 2022 • Closed on US$200M term loan and US$50M corporate revolver • First draw down to repay balance on former credit facility complete = US$80M • Hedged gold ounces: ◦ 25k Au oz. per quarter starting Q3 2023 for 6 quarters at U
Slide 5: Magino Update
Magino Update The Magino construction project was estimated at approximately 70% complete. Key activities and milestones are: Process Plant Advancing Stage 1A of the TMF and starting Stage 1B. Received major process equipment for the mill - the mills and tanks are in place. Pumping, piping, and elec
Slide 6: Magino Construction Update
Magino Construction Update TMF Generators Stockpile Feed Conveyor Secondary Crusher Goudreau Lake Fish Habitat TSX:AR Q3 2022 Results Ended September 30, 2022 Conference Call – November 4, 2022 | ARGONAUT GOLD 6
Slide 7: Magino Ore Control Drilling
Magino Ore Control Drilling Magino Ore Control Volumetric Drilling Reconciliation September 8, 2022 TSX:AR Q3 2022 Results Ended September 30, 2022 Conference Call – November 4, 2022 | ARGONAUT GOLD 7
Slide 8: Financial Performance
Financial Performance Three Months Ended September 30 Nine Months Ended September 30 % % 2022 2021 2022 2021 Change Change Sales (GEO)1 39,930 60,606 (34%) 155,543 185,372 (16)% Revenue ($M) 75.3 108.6 (31%) $292.5 $334.0 (12)% Net income (loss) ($M) (1.3) 15.0 (109%) $22.7 $63.8 (64)% (Loss) Earnin
Slide 9: Q3 2022 Capital Spending and Cash Flow ($M)
Q3 2022 Capital Spending and Cash Flow ($M) Investing in the future Q3 Cash Flow Reconciliation ($M) Q3 Capital Spend ($M) Opening balance cash 75.8 Sustaining Expansion Stripping El Castillo (0.1) — — Cash flow from operations excl. working capital 13.6 La Colorada 0.3 — 6.0 Changes in working capi
Slide 10: Operations Overview
Operations Overview Three Months Ended September 30, Nine Months Ended September 30, 2022 Production (GEO)1 2022 2021 % Change 2022 2021 % Change El Castillo 8,615 11,246 (23%) 32,402 36,403 (11)% San Agustin 16,616 17,626 (6%) 55,653 56,307 (1)% La Colorada 8,657 15,802 (45%) 35,830 49,606 (28)% Fl
Slide 11: 2022 Guidance
2022 Guidance Argonaut maintains its 2022 GEO production guidance and, primarily due to inflationary pressures on key consumable costs, is adjusting its cost guidance higher as outlined in the table below. Original Full Year Revised Full Year 2022 Guidance 2022 Guidance GEO production In 000s 200 –
Slide 12: Argonaut's Commitment to Sustainability
Argonaut’s Commitment to Sustainability Mexico Operations and Magino Project Safety RECENT CSR HIGHLIGHTS Performance achieves significant milestones Magino Continued engagement with local and Indigenous communities at all of Argonaut’s mine and project locations in Canada, the US, and Mexico. Susta
Slide 13: We Built a Scalable Company: Catalysts to Drive Value
WE BUILT A Scalable Company Catalyst to Drive Value PRODUCTION UNLOCKING VALUE Continue to drive low cost, profitable By reviewing life of mine improvements mining at all mines and development projects DEVELOPING EXPLORING Magino first gold and production ramp Growth opportunities to gain critical m
Slide 14: TSX:AR Additional Information
TSX:AR Diversified Intermediate Producer and Developer in North America ADDITIONAL INFORMATION /ArgonautGoldInc @Argonaut_Gold Joanna Longo Investor Relations @ArgonautGoldInc Phone: (416) 575-6965 Email: investor.relations@argonautgold.com company/Argonaut-Gold-Inc Argonaut Gold Inc. www.ArgonautGo
Slide 15: Notes and Disclosures
Notes and Disclosures Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production. Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Flo
Slide 16: Mineral Resource Notes and Disclosures
Mineral Resource Notes and Disclosures (1) Mineral Reserves and Mineral Resources have been estimated as at December 31, 2021 in accordance with NI 43-101 as required by Canadian securities regulatory authorities. Mineral Resources are presented inclusive of Mineral Reserves. Numbers may not sum due
Slide 17: Consolidated Mineral Resources & Mineral Reserves
Consolidated Mineral Resources & Mineral Reserves(1) 1 Please refer to slide titled “Mineral Resource Notes and Disclosure” for notes and disclosures. TSX:AR Q3 2022 Results Ended September 30, 2022 Conference Call – November 4, 2022 | ARGONAUT GOLD 17
Slide 18: Consolidated Mineral Resources & Mineral Reserves
Consolidated Mineral Resources & Mineral Reserves(1) 1 Please refer to slide titled “Mineral Resource Notes and Disclosure” for notes and disclosures. TSX:AR Q3 2022 Results Ended September 30, 2022 Conference Call – November 4, 2022 | ARGONAUT GOLD 18
Slide 19: Consolidated Mineral Resources & Mineral Reserves
Consolidated Mineral Resources & Mineral Reserves(1) 1 Please refer to slide titled “Mineral Resource Notes and Disclosure” for notes and disclosures. TSX:AR Q3 2022 Results Ended September 30, 2022 Conference Call – November 4, 2022 | ARGONAUT GOLD 19