Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Silver Standard Resources — Investor Presentation (March 2013)
36 slides from Ssr Mining's investor presentation, March 2013
Slide 1: Corporate Presentation
CORPORATE PRESENTATION March 2013 SSRI:NDAQ | SSO: TSX 1
Slide 2: Notes Regarding Forward Looking Statements
Notes 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 “forward-looking statement
Slide 3: Cautionary Note to U.S. Investors
Cautionary Note to U.S. Investors The disclosure included in this presentation uses Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and Mineral Resources estimates are made in accordance with Canadian National Instru
Slide 4: Significant 2013 catalysts & compelling valuation
What sets Silver Standard apart ASSETS CAPITAL MANAGEMENT Production and organic Funded with cash and Capable team of growth from a cash flow for growth managers & operators diversified portfolio and opportunity delivering on plan Significant 2013 catalysts & compelling valuation SSRI:NASDAQ SSRI:ND
Slide 5: Delivered on Plan in 2012
Delivered on Plan in 2012 PIRQUITAS ORGANIC FINANCIAL MINE GROWTH FLEXIBILITY Exceeded silver Completed Pitarrilla Strong balance production guidance feasibility study sheet with $367 million in cash (a) Generated positive Tripled reserves operating cash flow Generated positive Advance
Slide 6: Pirquitas: Large Open-Pit Silver Mine
PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 6
Slide 7: Pirquitas: Delivering on Plan
Pirquitas: Delivering on Plan 2012 – Deliver results Consistent quarterly operating performance Implement long-term sales strategy Manage import / export supply chain Add reserves 2013 – Continue to deliver predictable performance at Pirquitas Continue to deliver on plan Transition
Slide 8: Pirquitas: 2013 Guidance
(1,5) Pirquitas: 2013 Guidance 9.0 8.6 8.2 - 8.5 2013 guidance 8.0 7.1 8.2 - 8.5M oz Ag 7.0 production and sales Ounces Produced (millions) 6.3 6.0 > 20M lb Zn production 5.0 4.0 $17.00 - $18.50 per Ag ounce cash cost (a) 3.0 2.0 Ongoing drilling / exploration 1.1 1.0 0.0 2009 2010 2011 20
Slide 9: Pirquitas: Expanding the Resource
Pirquitas: Expanding the Resource (1, 2) Feb. 2012 Survey Area Aug. 2012 Survey Area +53,000m DRILLED IN 2012 Expanded Cortaderas Breccia Resource 24 meters(a) Volume 500 m AVERAGING 1,764g/t SILVER San Miguel 4.9% ZINC Open-Pit 78 meters(a) AVERAGING 756g/t SILVER 9.8% ZINC Gravity Anomalies (Dense
Slide 10: Pitarrilla: Feasibility Complete
PITARRILLA FEASIBILITY COMPLETE SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 10
Slide 11: Pitarrilla: Transformational Opportunity
Pitarrilla: Transformational Opportunity (3) Lower cost profile Average annual cash costs of ~$10/oz payable silver (a) Capital costs of $741 million Low technical risk – open pit, conventional flotation and leach Large scale project 32-year project life producing ~15M ounces of silver p
Slide 12: Pitarrilla: Mineralization Zones
Pitarrilla: Mineralization Zones (3) Breccia Ridge South Ridge NE Cordon Colorado Javelina Creek -0m Approx. Oxide / Transitional Boundary -200 m Approx. Transitional / Sulphide Boundary -400 m Pit Shell -600 m 0 200 400 metres Viewing window width is 700 m -800 m SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TS
Slide 13: Pitarrilla: Simplified Flow Sheet
(3) Pitarrilla: Simplified Flow Sheet 175,000 tonnes material moved per day Strip ratio: 6:1 Crush 16,000 tpd 12,000 tpd Grind Lead Flotation Zinc Flotation Leach CCD M-C Refining Cyanide Rec. & Destruction Tailings Lead Concentrate (a) Zinc Concentrate (a) Doré (a) 29.1 Mlbs Pb per year 76.3 Mlbs Z
Slide 14: Pitarrilla: Next Steps
Pitarrilla: Next Steps Acquire remaining surface rights Obtain environmental and operating permits Continue with engineering and infrastructure work Implement financing plan Advancing to construction SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 14
Slide 15: San Luis: High-Grade Gold and Silver
SAN LUIS HIGH-GRADE GOLD AND SILVER SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 15
Slide 16: San Luis at a Glance
San Luis at a Glance (4) Estimated 1.9M oz Ag Average Annual Production 78,000 oz Au Resources 8.9M oz Ag at 595.5 g/t (M + I) 0.35M oz Au at 25.2 g/t Estimated Mine Life 3.5 Years (Ayelén vein only) Estimated Capital Expenditures $90 - $100M Estimated Construction Time <2 Years SSRI:NASDAQ SSRI:NDA
Slide 17: San Luis: Advancing Toward Value
San Luis: Advancing Toward Value Feasibility study completed in Q2 2010 LA LIBERTAD Consolidated interest in Q3 2011 ANCASH Cochabamba community agreement signed in Q4 2011 San Luis Antamina EIA approved in Q3 2012 Pierina (Barrick) HUÁNCO Next steps Ecash community agreement PASCO Dri
Slide 18: Our Future
Our Future 400K HECTARES $15M OF UNDEREXPLORED, PROSPECTIVE LAND 2013 EXPLORATION INVESTMENT SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 18
Slide 19: Successful Exploration Track Record
Successful Exploration Track Record Reserves(a) 566M oz Ag Measured & Indicated(a) 1,188M oz Ag (Inclusive of reserves) Inferred(a) 344M oz Ag Snowfield + Cash Proceeds: $400M Brucejack Retained Interest: $152M(b) = Budgeted 2013 Bowdens Sold for A$75M Drilling Programs (a) Refer to the Reserve and
Slide 20: Experienced Management Team
Experienced Management Team John Smith Gregory Martin Alan Pangbourne Ron Burk John DeCooman President, CEO SVP and Chief SVP, Projects VP, Exploration VP, Business and Director Financial Officer Development and Strategy Andrew Sharp Bruce Kennedy Robert Byrd Wade Stogran Trevor Yeomans VP, Technica
Slide 21: Capital for Growth and Opportunity
Capital for Growth and Opportunity Share Price 1 $10.67 Solid balance sheet Basic Shares Outstanding 2 80.7 Market Capitalization $862 Well-funded for growth Less: Cash 3 ($367) Plus: Convertible Note 3 $138 Less: Pretium Interest 4 Creating value via portfolio ($152) Less: Other Marketable Se
Slide 22: Key Goals for 2013
Key Goals for 2013 2013 Continue to deliver predictable performance at Pirquitas Move the Pitarrilla project towards construction Increase reserves Maintain strong balance sheet to enable growth Continue creating value from asset portfolio Delivering to plan in 2013 SSRI:NASDAQ SSRI:NDAQ |
Slide 23: Now: Building Performance
NOW BUILDING PERFORMANCE SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 23
Slide 24: Diversified Assets
Diversified Assets PRODUCTION Pirquitas Argentina DEVELOPMENT Pitarrilla Mexico San Luis Peru Diablillos Argentina San Agustin Mexico EXPLORATION Berenguela Peru Challacollo Chile Veta Colorada Mexico Candelaria United States Maverick Springs United States Sunrise Lake Canada SSRI:NASDAQ SSRI:NDAQ |
Slide 25: Mineral Reserves
Mineral Reserves (as at December 31, 2012) Mineral Reserves Metal grade Contained metal Tonnes Silver Gold Lead Zinc Silver Gold (mil.) (g/t) (g/t) (%) (%) (mil. oz) (mil. oz) Proven 8.3 180.8 - - 0.51 48.1 - Pirquitas Probable 4.8 169.1 - - 1.03 25.9 - Stockpiles (a) 1.4 137.3 - - 0.74 6.1 - Pitarr
Slide 26: Mineral Resources: Measured & Indicated
Mineral Resources: Measured & Indicated (as at December 31, 2012) 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 11.1 150.3 - - 0.49 - 53.6
Slide 27: Mineral Resources: Inferred
Mineral Resources: Inferred (as at December 31, 2012) 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 2.8 160.5 - - 5.38 - 14.2 - Pitarrilla 22.1 62.1 - 0.21 0.49 - 44.1 - San Luis 0.0
Slide 28: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables All estimates of Mineral Reserves and Mineral Resources in the Reserves and Resources have been prepared in accordance with NI 43-101 under the supervision of a Qualified Person named below for the respective properties. Mineral Resources which are not Mineral R
Slide 29: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables Diablillos Mineral Resources estimate was completed by Gilles Arseneau, Ph.D., P.Geo., a Qualified Person, in accordance with the standards of NI 43-101, in a technical report completed by Wardrop, a TetraTech company, entitled “Technical Report on the Diablillo
Slide 30: Pitarrilla: Key Operating / Financial Measures
(3) Pitarrilla: Key Operating / Financial Measures Pitarrilla Feasibility Study – December 2012 Life of Project (LOP) 32 Years Silver Reserves (Mozs) 479 Average Annual Silver Production (Mozs) 10.1 Average Annual Cash Costs (Net of By-Products) ($ / oz Payable Ag) $10.01 Capital Costs ($ MM) $741 L
Slide 31: Pitarrilla Mineral Reserves
Pitarrilla Mineral Reserves (Effective December 4, 2012) (a) Mineral Reserves Tonnage Metal grade Contained metal Category Process Type Tonnes Silver Lead Zinc Ag Pb Zn (Mt) (g/t) (%) (%) (Mozs) (Mlbs) (Mlbs) Probable Direct Leach 43.4 91.5 0.169 0.422 127.5 161.6 403.9 Probable Flotation / Leach 11
Slide 32: Pitarrilla Mineral Resources
Pitarrilla Mineral Resources (Effective December 4, 2012) (a) Mineral Resources (inclusive of Mineral Reserves) (b) Tonnage Metal grade Contained metal Category Tonnes Ag Pb Zn Ag Pb Zn (Mt) (g/t) (%) (%) Moz (Mlbs) (Mlbs) Measured 20.31 95.42 - - 62 - - 240.00 81.94 - - 632 - - Indicated 260.31 - 0
Slide 33: Pitarrilla Reserves: Notes to Table
Pitarrilla Reserves: Notes to Table Andrew W. Sharp, B.Eng, FAusIMM, is the Qualified Person for the reported Mineral Reserve estimate. All Mineral Reserves have been classified in accordance with current CIM definition standards. Mineral Reserves are contained within Measured and Indicated Re
Slide 34: Pitarrilla Resources: Notes to Table
Pitarrilla Resources: Notes to Table Jeremy D. Vincent, B.Sc. (Hons), P.Geo., is the Qualified Person for the reported Mineral Resources estimate. All Mineral Resource estimates have been classified in accordance with current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definitio
Slide 35: Presentation Footnotes
Presentation Footnotes 1) See the NI 43-101 Technical Report on the Pirquitas Mine, Jujuy Province, Argentina, dated December 23, 2011 filed on SEDAR and available on the company’s website. See news release dated January 8, 2013 for cost guidance. 2) Jeremy D. Vincent, B.Sc. (Hons), P.Geo., is the Q
Slide 36: Corporate Presentation
CORPORATE PRESENTATION SSRI:NDAQ | SSO: TSX 36
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