Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Merger or Acquisition (May 2020)
25 slides from Ssr Mining's merger presentation, May 11, 2020
Slide 1: Creating a Free Cash Flow Focused, Diversified Gold Producer
CREATING A FREE CASH FLOW FOCUSED, DIVERSIFIED GOLD PRODUCER May 11, 2020
Slide 2: Conference Call Participants
Conference Call Participants Paul Benson Rodney P. Antal President and CEO President and CEO SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX PAGE 2
Slide 3: Creating a Free Cash Flow Focused, Diversified Gold Producer
Creating a Free Cash Flow Focused, Diversified Gold Producer Zero-premium merger of two top-performing gold producers ▪ Diversified portfolio of high quality, long-life operating assets across four jurisdictions Diversified ▪ Forward-looking 3-year average annual production profile of ~780 koz AuEq(
Slide 4: Transaction Summary
Transaction Summary ▪ SSR Mining and Alacer to merge via Plan of Arrangement Proposed ▪ Combined equity value of approximately US$4.0 billion Transaction ▪ Pro Forma ownership of 57% SSR Mining and 43% Alacer ▪ Zero-premium, at-market merger based on TSX closing prices as of May 8, 2020 ▪ Implies Al
Slide 5: Diversified Portfolio of High Quality, Long-Life Assets
Diversified Portfolio of High Quality, Long-Life Assets Operating assets across four jurisdictions Production by Asset 2019A AuEq. (100% Basis) Puna 11% Seabee Seabee Gold Mine 14% Çöpler 48% Marigold Mine Marigold 27% (1) Çöpler District 2020 – 2022E Production Koz AuEq (100% Basis) Pitarrilla Ardi
Slide 6: Experienced Leadership
Experienced Leadership Track record of delivery based on a diverse technical skill set Diverse Operating & Development Skill Set Track Record of Value Creation (5) 250 +138% ▪ Large-scale open pit operations +124% Mining ▪ Narrow-vein underground mining 200 ▪ Pressure-oxidation processing Share Pric
Slide 7: Experienced Leadership
Experienced Leadership Successful cultures grounded in discipline and integrity Experienced Leadership ISS ESG Ranking (6) ▪ Top ESG rankings Peer 1 7 SSR Mining 9 Peer 2 9 ▪ Focus on shareholder value Alacer Gold 12 Peer 3 12 Peer 4 13 ▪ Strong health and safety record Peer 5 14 Peer 6 15 Peer 7 17
Slide 8: Free Cash Flow Leader
Free Cash Flow Leader Peer leading free cash flow generation 2020 – 2022E Average Production (1,7) Koz AuEq (100% basis) 1,215 978 972 970 925 780 776 769 647 521 519 510 480 433 347 Yamana Saracen Centerra B2Gold Centamin Eldorado Alacer Gold Northern Star IAMGOLD Equinox OceanaGold Alamos SSR Mini
Slide 9: Significant Financial Strength
Significant Financial Strength Peer leading balance sheet bolstered by free cash generation Over $700M of Cash & Securities (8)) Peer Leading Credit Metrics Net Debt to 2020E EBITDA (US$M) SSR Alacer MergeCo IAMGOLD (0.9x) FD Shares Centamin (0.8x) 126.3 298.5 223.2 Outstanding SSR Mining (0.8x) Mar
Slide 10: Robust Organic Pipeline for Growth
Robust Organic Pipeline for Growth Extensive land packages in proven mineral belts Çöpler District master plan Marigold growth opportunities ✓ 121,500 hectares across Turkey ✓ ~20,000 hectare land package ✓ Ardich – Potential to Add Production in 2-3 (12) ✓ Doubled land position with the acquisition
Slide 11: Enhanced Capital Markets Presence
Enhanced Capital Markets Presence Attractive trading liquidity across three global exchanges … Potential for increased Increased scale across three … Improved liquidity attracts coverage from equity research exchanges … (16) investors analysts $4.0 Overlapping Equity Research Analysts: BMO Capital M
Slide 12: Creating a Leading Intermediate Gold Producer
Creating a Leading Intermediate Gold Producer Zero-premium, at-market merger of two top-performing companies Experienced management team with a track record of creating value Financial strength with peer leading free cash flow generation Merging of ‘Tier 1’ asset and diversified portfolio with scale
Slide 13: Contact Info
Contact Info NASDAQ/TSX:SSRM TSX:ASR, ASX:AQG Paul Benson Rodney P. Antal President & CEO, Director President & CEO, Director W. John DeCooman, Jr. F. Edward Farid SVP, Business Development & Strategy SVP, Business Development & Investor Relations Lisa Maestas Director, Investor Relations E-Mail: in
Slide 14: Appendix
APPENDIX
Slide 15: Marigold Mine: Overview
Marigold Mine: Overview Fact Sheet (21) Location Nevada, United States Mining Open pit Processing Run-of-mine heap leach (no crushing) Material Moved ~200,000 tpd Turquoise Ridge Goldstrike Operation Start 1989 (in continuous operation) MARIGOLD Phoenix Current Mine Life Early 2030’s (including Red
Slide 16: Çöpler Gold Mine: Overview (100% Basis)
Çöpler Gold Mine: Overview (100% Basis) (22) (23) Fact Sheet Oxide Sulfide Consolidated Mining Open Pit Open Pit – Pressure Processing Heap Leach – Oxidation Capacity ~17,000 tpd ~6,000 tpd – Operation Start 2011 2018 – Current Mine Life – – 18 years Land Package – – 16,573 ha Çöpler Mine 2020E Guid
Slide 17: Seabee Gold Operations: Overview
Seabee Gold Operations: Overview Fact Sheet (24) Location Saskatchewan, Canada Mining Underground Processing Gravity concentration and cyanide leaching Mill Throughput Targeting 1,050 tpd Operation Start 1991 (in continuous operation) Current Mine Life 2024 (significant extension potential with more
Slide 18: Puna Operations: Overview
Puna Operations: Overview Fact Sheet (24) Location Jujuy Province, Argentina Mining Open pit Processing Flotation plant to produce concentrate Mill Capacity +5,000 tpd Pirquitas Operation Operation Start 2018 (Pirquitas processing plant started in 2009) Jujuy, Argentina Current Mine Life +2025 Chinc
Slide 19: Consolidated Mineral Reserves
Consolidated Mineral Reserves Tonnes Grade Contained Deposit (25) (kt) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) Au (koz) Ag (koz) Cu (klbs) Pb (klbs) Zn (klbs) Proven Mineral Reserves Marigold -- -- -- -- -- -- -- -- -- -- -- Marigold (Leach Pad Inventory) -- -- -- -- -- -- -- -- -- -- -- Seabee 370 9
Slide 20: Consolidated Measured & Indicated Resources
Consolidated Measured & Indicated Resources Tonnes Grade Contained Deposit (27) (kt) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) Au (koz) Ag (koz) Cu (klbs) Pb (klbs) Zn (klbs) Measured Mineral Resources Marigold -- -- -- -- -- -- -- -- -- -- -- Marigold (Leach Pad Inventory) -- -- -- -- -- -- -- -- -- -
Slide 21: Consolidated Inferred Resources
Consolidated Inferred Resources Tonnes Grade Contained Deposit (28) (kt) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) Au (koz) Ag (koz) Cu (klbs) Pb (klbs) Zn (klbs) Inferred Mineral Resources Marigold 16,194 0.35 -- -- -- -- 182 -- -- -- -- Seabee 2,132 8.50 -- -- -- -- 583 -- -- -- -- Chinchillas 22,172
Slide 22: Reserves and Resources Notes to Tables
Reserves and Resources Notes to Tables Alacer Gold Mineral Reserves and Mineral Resources are quoted after mining depletion through December 31, 2019 and Mineral Resources are inclusive of Mineral Reserves. Mineral Reserves and Mineral Resources are shown on a 100% basis. The key assumptions, parame
Slide 23: Endnotes
Endnotes 1. Based on the aggregate of the “street” consolidated consensus estimates of average annual production over 3 years (2020 to 2022 inclusive) for Alacer and SSR Mining sourced from Capital IQ (www.capitaliq.com) (“Capital IQ”) as at May 8, 2020. Consolidated consensus estimates are intended
Slide 24: Cautionary Statements
Cautionary Statements Certain statements contained in this document constitute “forward-looking information”, “future oriented financial information” or “financial outlooks” (collectively, “forward looking information”) within the meaning of applicable securities laws. Forward looking information of
Slide 25: SSR Mining Inc.
SSR Mining Inc. www.ssrmining.com Email: invest@ssrmining.com Alacer Gold Corp. www.alacergold.com Email: info@alacergold.com