Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Silver Standard Resources — Investor Presentation (June 2014)
32 slides from Ssr Mining's investor presentation, June 2014
Slide 1: Corporate Presentation
CORPORATE PRESENTATION June 2014 SSRI:NDAQ | SSO: TSX 1
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities laws (collectively
Slide 3: Our Business Portfolio
Our Business Portfolio 10 1 8 1. Marigold 7 8. Maverick 6. Berenguela 5. Diablillos Springs 3 3. Pitarrilla 9 Exploration Development Production 2. Pirquitas 9. San Marcial 4. San Luis 4 6 10. Sunrise Lake 7. Candelaria 2 5 San Agustin Challacollo Snowfield Bowdens Brucejack Balanced growth portfoli
Slide 4: Marigold: Established Gold Mine
MARIGOLD ESTABLISHED GOLD MINE SSRI:NDAQ | SSO: TSX 4
Slide 5: Marigold Mine: Upgrades our Portfolio
Marigold Mine: Upgrades our Portfolio Acquisition for $275M in cash, April 2014 Continuous production since 1988 Open pit, run-of-mine heap leach operation Twin Creeks Goldstrike MARIGOLD Maverick Springs Phoenix Adds operating cash flow and reserves Cortez Carlin Trend Improves operating
Slide 6: Marigold Mine: Activity and Guidance
Marigold Mine: Activity and Guidance Mine plan for the future April 4 – December 31 Resource model complete Q3 2014 2014 Reserve and LOM plan complete Q4 2014 Gold production 105,000 – 115,000 ozs Material moved at lowest cost per tonne Cash costs per New P&H shovel and truck fleet payable
Slide 7: Marigold Mine: Getting Back to Reserve Grade
Marigold Mine: Getting Back to Reserve Grade $1,200 0.7 $1,117 $1,000 - $1,100 0.61 0.58 0.6 $1,000 0.55 Average Grade Processed (g / t) $914 0.52 0.5 $784 $776 Cash Costs ($ / oz) $800 $678 0.4 0.37 $600 0.32 0.3 $400 0.2 $200 0.1 $0 0 2010 2011 2012 2013 Q1 2014 2014 Reserve Guidance Grade Note: A
Slide 8: New large-scale equipment at Marigold
New large-scale equipment at Marigold SSRI:NDAQ | SSO: TSX 8
Slide 9: Long-life mine operated to world-class standards
Long-life mine operated to world-class standards SSRI:NDAQ | SSO: TSX 9
Slide 10: Pirquitas: Large Open-Pit Silver Mine
PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NDAQ | SSO: TSX 10
Slide 11: Pirquitas Mine: Overview and Opportunities
Pirquitas Mine: Overview and Opportunities 100% owned and operated silver and zinc mine In commercial production since December 2009 Focus on operational excellence Contracts, operational performance, people Lower strip ratio going forward Pirquitas Mine Benefitting from Argentine peso d
Slide 12: Pirquitas Mine: Performance Update
Pirquitas Mine: Performance Update (1) First Quarter 2014 2014 Guidance Deliver consistent performance 8.2 – 8.6M oz Ag production Focused on operational excellence 25 – 30M lb Zn production $12.50 – $13.50 / oz cash cost (2) Produced 1.9M oz Ag (per payable ounce of silver sold) Produ
Slide 13: Pirquitas Mine: Lowered Cost Profile
Pirquitas Mine: Lowered Cost Profile $19.70 Cash costs per payable $16.88 ounce of silver sold $12.87 $12.36 2011 2012 2013 Q1 2014 Note: Cash costs are a non-GAAP financial measure. Please see "Cautionary Note Regarding Non-GAAP Measures” in this presentation. Information for 2011 has not been rest
Slide 14: Pitarrilla: Going Forward
Pitarrilla: Going Forward Parral Mining District Defining best way forward for the Chihuahua, Mexico Pitarrilla project Option evaluation continues Re-prioritized Pitarrilla Project Durango, Mexico SSRI:NASDAQ SSRI:NDAQ | |SSO: SSO:TSX TSX 14
Slide 15: San Luis: Dual Option to Value
San Luis: Dual Option to Value Going forward N Ecash community agreement pursued Drilling the Bonita Zone (2014) Ecash Community Cochabamba agreement extended (2Q13) Ayelén Vein EIA approved (3Q12) Consolidated interest (3Q11) San Simon Vein Feasibility study (2Q10) Bonita Zone Cochaba
Slide 16: Silver Standard: Pro Forma Liquidity
Silver Standard: Pro Forma Liquidity Cash $396 Plus: Marketable Securities $161 Total Cash and Marketable Securities $558 Less: Marigold Purchase Price ($275) Less: Acquisition Costs ($5) Total Costs ($280) Available Liquidity $278 All figures are in millions of U.S. dollars. Financial capacity for
Slide 17: Strong Technical and Commercial Experience
Strong Technical and Commercial Experience Management Team John Smith Gregory Martin Alan Pangbourne John DeCooman President, CEO SVP and Chief SVP, Projects VP, Business Development and Director Financial Officer and Strategy Andrew Sharp Ed Kirwan Kelly Stark-Anderson Bruce Huber VP, Technical VP,
Slide 18: Key Goals for 2014
Key Goals for 2014 Successfully integrate and optimize Marigold Advance operational excellence at Pirquitas Define pathways for San Luis and Pitarrilla Maintain strong balance sheet and cost discipline Focus on growth opportunities Elements for Growth SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX T
Slide 19: SSRI:NASDAQ SSRI:NDAQ | | SSO: SSO:TSX
SSRI:NASDAQ SSRI:NDAQ | |SSO: SSO:TSX TSX 19
Slide 20: Silver Standard: Enhanced Reserve Profile
Silver Standard: Enhanced Reserve Profile Silver Equivalent (3) Pro Forma Silver Equivalent Mineral Reserves Mineral Reserves Argentina Peru 9% 4% Argentina 14% USA 34% Peru 3% Mexico 54% Mexico 82% Total: 583M AgEq oz Total: 879M AgEq oz Lower geopolitical risk Note: Silver equivalent mineral reser
Slide 21: Silver Standard: Production and Cost Profile
Silver Standard: Production and Cost Profile 20.0 $1,600 $1,503 17.9 18.0 Silver Equivalent Production (Moz) 16.0 $589 $1,167 $1,200 14.0 $253 Cash Costs ($ / oz) 12.0 $914 10.0 $800 8.2 8.0 6.0 $914 $400 4.0 2.0 0.0 $0 2013 2013 Pro Forma (4) Cash Cost Capital Capital (2013) (2013) (Avg. 2008 - 201
Slide 22: Marigold Mine: Production and Financial Profile
Marigold Mine: Production and Financial Profile 180 150% $1,000 $200 162 $914 154 144 $784 $776 137 Earnings from Operations ($M) $750 $150 $678 Total Cash Cost ($ / oz) Gold Ounces Produced (koz) 120 100% Gold Recoveries (%) 73% 73% 73% 73% $101 $500 $92 $100 60 50% $47 $44 $250 $50 0 0% $0 $0 (5)
Slide 23: Pirquitas Mine: Pit Transition
Pirquitas Mine: Pit Transition Oploca Potosí San Miguel Pit Legend Phase 1 Pit Phase 2 Pit Pit at Sep. 30, 2013 Ore SSRI:NASDAQ SSRI:NDAQ | |SSO: SSO:TSX TSX 23
Slide 24: Pitarrilla: Geology and Feasibility Pit Outline
Pitarrilla: Geology and Feasibility Pit Outline Breccia Ridge Cordon Colorado Javelina Creek Pit Shell Exploration Decline Legend Oxide/Transition Sulphide Existing Exploration Decline Phased Pit Designs SSRI:NASDAQ SSRI:NDAQ | |SSO: SSO:TSX TSX 24
Slide 25: Development Project Portfolio
Development Project Portfolio Pitarrilla Feasibility Study Results San Luis Feasibility Study Results (December 2012) (June 2010) 32-year life: 479M oz Ag reserves 3.5-year life: Underground mine Avg. production: 15M oz Ag (1st 18 years) Avg. annual 1.9M oz Ag production: 78,000 oz Au Cash
Slide 26: Mineral Reserves
Mineral Reserves (as at December 31, 2013) Mineral Reserves Metal grade Contained metal Tonnes Silver Gold Lead Zinc Silver Gold (mil.) (g/t) (g/t) (%) (%) (mil. oz) (mil. oz) Proven 7.1 208.0 - - 0.55 47.3 - Pirquitas Probable 2.9 179.0 - - 1.28 16.6 - Stockpiles (a) 1.1 125.0 - - 1.39 4.5 - Pitarr
Slide 27: Mineral Resources: Measured & Indicated
Mineral Resources: Measured & Indicated (as at December 31, 2013) Measured & Indicated Mineral Resources (inclusive of Mineral Reserves) Metal grade Contained metal Tonnes Silver Gold Lead Zinc Copper Silver Gold (mil.) (g/t) (g/t) (%) (%) (%) (mil. oz) (mil. oz) Measured 7.9 210.0 - - 0.35 - 53.2 -
Slide 28: Mineral Resources: Inferred
Mineral Resources: Inferred (as at December 31, 2013) Inferred Mineral Resources Metal grade Contained metal Tonnes Silver Gold Lead Zinc Copper Silver Gold (mil.) (g/t) (g/t) (%) (%) (%) (mil. oz) (mil. oz) Pirquitas 5.4 162.0 - - 2.38 - 28.3 - Pitarrilla 22.1 62.1 - 0.21 0.49 - 44.1 - San Luis 0.0
Slide 29: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables All estimates of Mineral Reserves and Mineral Resources in the Mineral Reserves and Mineral Resources tables have been prepared in accordance with National Instrument 43-101—Standards of Disclosure for Mineral Projects (“NI 43-101”) and have been reviewed and ap
Slide 30: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables Diablillos Mineral Resources estimate was completed in a technical report entitled “Technical Report on the Diablillos Property-Salta and Catamarca Provinces, Argentina” dated July, 2009. Mineral Resources are reported above a recoverable metal value (“RMV”) cut
Slide 31: Presentation Endnotes
Presentation Endnotes All amounts are in U.S. dollars unless otherwise stated. 1) See news release dated January 14, 2014 for cost guidance. 2) Cash costs guidance for 2014 at Pirquitas is based on $20/oz silver price and $0.85/lb zinc price. 3) Refer to slides entitled “Mineral Reserves”, “Mineral
Slide 32: Corporate Presentation
CORPORATE PRESENTATION SSRI:NDAQ | SSO: TSX 32
Silver Standard Resources — Investor Presentation (June 2014) on 6ix