Florida Canyon Gold — Argonaut Gold — Q1 2022 Earnings Presentation
16 slides from Florida Canyon Gold's earnings presentation, May 12, 2022
Slide 1: Webcast Presentation: First Quarter Ended March 31, 2022
TSX:AR WEBCAST PRESENTATION First Quarter Ended March 31, 2022 Conference Call May 12, 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: Magino Construction Update
Magino Construction Update ROM Pad Process Plant Following Larry Radford's appointment as President, CEO and Director, the Company initiated a review of the estimated cost to completion ("EAC"). While the update EAC is not finalized, Argonaut estimates it will likely be approximately 15% higher than
Slide 4: Recent Highlights & Current Focus
Recent Highlights & Current Focus • Filing of Updated Technical Reports for Mexican Operations and RECENT Exploration Updates for Magino, La Colorada and Florida Canyon HIGHLIGHTS ◦ Announced February 14, 2022 • Filing of Updated Magino Technical Report ◦ Announced March 3, 2022 • C$51.8M Bought Dea
Slide 5: Financial Performance
Financial Performance Three Months Ended March 31, 2022 2021 % Change Sales (GEO)1 56,373 59,116 (5%) Revenue ($M) 105.8 105.3 —% Net income (loss) ($M) 5.6 27.0 (79%) Earnings (loss) per share - basic 0.02 0.09 (78%) Adjusted net income2 ($M) 8.2 7.0 17% Adjusted earnings per share – basic 0.03 0.0
Slide 6: Q1 2022 Capital Spending and Cash Flow ($M)
Q1 2022 Capital Spending and Cash Flow ($M) Investing in the future Q1 Cash Flow Reconciliation ($M) Q1 Capital Spend ($M) Opening balance cash 199.2 Sustaining Expansion Stripping El Castillo 0.4 — 3.3 Cash flow from operations excl. working capital 25.1 La Colorada 0.2 — 0.4 Changes in working cap
Slide 7: Operations Overview
Operations Overview Three Months Ended March 31, Production (GEO)1 2022 2021 % Change El Castillo 11,611 12,228 (5%) San Agustin 19,902 18,947 5% La Colorada 13,783 16,516 (17%) Florida Canyon 10,220 12,013 (15%) TOTAL 55,516 59,704 (7%) Cash Cost (per Au oz.)2 El Castillo $ 1,226 $ 1,049 17% San Ag
Slide 8: 2022 Guidance
2022 Guidance 2022 Production and Cost Guidance Q1 2022 Actual 2022E GEO production (in 000s) 55,516 200 - 230 Cash cost per gold ounce sold1 $1,153 $1,100 - $1,190 AISC per gold ounce sold1 $1,430 $1,415 - $1,525 2022 production and cost guidance maintained. Due to the current inflationary environm
Slide 9: Argonaut's Commitment to Sustainability
Argonaut’s Commitment to Sustainability Awarded Socially Responsible RECENT CSR HIGHLIGHTS Company for the 10th year in a row. Florida Canyon Sustainability Highlights & Ongoing Programs • By switching to solar alternative power: ◦ In 2021: 24% reduction in greenhouse gas emissions at La Colorada an
Slide 10: Near Term Growth Through Magino Development
Near Term Growth Through Magino Development Overview • Economically robust and tier 1 jurisdiction • 19 year mine life • Processing Expansion: Potential expansion to 20ktpd processing facility. Reserves & Resources • Underground Mining: Deep exploration Tonnes Contained Au Category Au Grade (g/t) ta
Slide 11: Magino to Catalyze Argonaut's Vision & Strategy
Magino to Catalyze Argonaut’s Vision & Strategy Meaningful Increase to Existing Production Significant Reduction to Current AISC 160 $1,500 143% 143% 142 $1,311 $1,311 28% (27%) AISC Per Gold Ounce Sold $1,200 120 Production (koz Au) $963 $900 80 58 $600 40 $300 -- Average 2021 Production Magino Ini
Slide 12: Lassonde Curve - Slingshot Re-Rate Potential Opportunities
Lassonde Curve - Slingshot Re-Rate Potential Opportunities TSX:AR Q1 2022 Results Ended March 31, 2022 Conference Call – May 12, 2022 | ARGONAUT GOLD 12
Slide 13: Additional Information
TSX:AR Diversified Intermediate Producer and Developer in North America ADDITIONAL INFORMATION /ArgonautGoldInc @Argonaut_Gold Dan Symons Vice President, Corporate Development & Investor Relations @ArgonautGoldInc Argonaut Gold Inc. company/Argonaut-Gold-Inc First Canadian Place 100 King St. West, S
Slide 14: 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 15: Mineral Resource Notes and Disclosures
Mineral Resource Notes and Disclosures (1) Mineral Reserves and Mineral Resources have been estimated as at December 31, 2020 for Florida Canyon, Cerro del Gallo, Ana Paula and San Antonio, as at October 1, 2021 for El Castillo and La Colorada and as at August 1, 2021 for San Agustin in accordance w
Slide 16: 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 Q1 2022 Results Ended March 31, 2022 Conference Call – May 12, 2022 | ARGONAUT GOLD 16