Perpetua Resources Corp. · TSX:PPTA
Perpetua Resources — Investor Presentation (November 2022)
22 slides from Perpetua Resources's investor presentation, November 2022
Slide 1: Investor Webinar – November 2022
Investor Webinar – November 2022 N A S DAQ : P P TA T SX : P PTA Perpetua Resources Responsible Mining. Critical Resources. Clean Future.
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Information and statements contained in this presentation that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the
Slide 3: Cautionary Note & Technical Disclosure
CAUTIONARY NOTE & TECHNICAL DISCLOSURE The presentation has been prepared by Perpetua Resources management and does not represent a recommendation to buy or sell these securities. Investors should always consult their investment advisors prior to making any investment decisions. All references to “d
Slide 4: Why Perpetua Resources?
WHY PERPETUA RESOURCES? ✓ Redeveloping one of largest, highest grade and lowest cost gold projects in the U.S.* ✓ Superior project economics with ~15 year reserve life and <3 year payback period * ✓ Providing a U.S critical mineral to power batteries enabling the low-carbon energy transition and for
Slide 5: The Stibnite Gold Project
THE STIBNITE GOLD PROJECT Our goal is to take an area abandoned after 100 years of mining activity and use a sustainable approach to restore the environment and develop a modern mining project helping power a lower carbon future through critical mineral production. 5
Slide 6: Path Forward for the Stibnite Gold Project
PATH FORWARD FOR THE STIBNITE GOLD PROJECT1 U.S. Forest Service identified Perpetua’s Proposed Plan as Preferred Alternative2 in Supplemental EIS 2024 2027 Construction Commercial operations Early 2024 Decision and ongoing restoration Ancillary permits and Project Financing Late 2023 / Early 2024 Fi
Slide 7: NEPA Scope Narrowed Following SDEIS
1 NEPA SCOPE NARROWED FOLLOWING SDEIS 2022 Supplemental Preferred Alternative 2020 DEIS Identified DEIS Modified Mine Plan – Burntlog Route Modified Mine Plan – Burntlog Route Plan of Restoration and Operations (PRO) Alternative Alternative Modified Mine Plan - Johnson Creek 2022 SDEIS Preferred Alt
Slide 8: Net Environmental Benefits Identified in SDEIS
NET ENVIRONMENTAL BENEFITS IDENTIFIED IN SDEIS Increases Access to Fish Habitat: Improves Water Quality and Mitigates Effects on Water Temperature: ✓ Permanent, regional, and beneficial effect on Chinook salmon, steelhead, bull trout and westslope cutthroat trout ✓ Greatly reduced the volume and dur
Slide 9: Gaining Momentum with Near-Term Catalysts
GAINING MOMENTUM WITH NEAR-TERM CATALYSTS Recent Accomplishments: Anticipated Milestones1: ✓ Signed agreement to begin legacy waste cleanup (Jan 2021) ❑ SDEIS Comment Period Closes (January 2023) ✓ US listing on NASDAQ approved (Feb 2021) ❑ Final Environmental Impact Statement & Draft Record of Deci
Slide 10: Valuation Expected to Re-rate Once Permitted
VALUATION EXPECTED TO RE-RATE ONCE PERMITTED 100% Pre-Permitting Permitted Market Cap As % of Spot NAV3,4 68% 50% 43% 35% 37% 27% 9% 10% 0% 1,2 Perpetua Integra Ascot Artemis Skeena Marathon NovaGold 1. Perpetua Resources market cap based on fully diluted market cap using closing price as of Novembe
Slide 11: One of the Largest Gold Reserves in the U.S.
ONE OF THE LARGEST GOLD RESERVES IN THE U.S. 1 Independent Gold Project Mineral Reserves1 2 Perpetua (Stibnite) 4.8 Castle Mountain 4.2 Marigold 3.4 Round Mountain 3.0 Haile 2.6 Bald Mountain 0.8 0.0 1.0 2.0 3.0 4.0 5.0 2021 Year-End Mineral Reserves - Gold (Moz) Source: Latest available company mat
Slide 12: Poised to be One of Largest U.S. Gold Mines
POISED TO BE ONE OF LARGEST U.S. GOLD MINES Independent Producing Gold Mines1 3 Perpetua (Stibnite) Yrs 1-4 463 3 Perpetua (Stibnite) LoM 297 Round Mountain 257 Marigold 235 Bald Mountain 205 Haile 190 Wharf 91 0 50 100 150 200 250 300 350 400 450 500 2021 Annual Gold Production2 (koz) Source: Lates
Slide 13: Lowest Quartile All-in Sustaining Costs
LOWEST QUARTILE ALL-IN SUSTAINING COSTS 1 Among lowest cost North American developers… …and lowest cost relative to senior producers 3 3 Perpetua (Stibnite) Yrs 1-4 $438 Perpetua (Stibnite) Yrs 1-4 $438 3 Perpetua (Stibnite) LoM $636 Perpetua (Stibnite) LoM 3 $636 Skeena (Eskay Creek) $652 Barrick $
Slide 14: Annual After-Tax Cash Flow (@ $1,850 Gold Price)
ANNUAL AFTER-TAX CASH FLOW (@ $1,850 GOLD PRICE) 1 1. Based on the 2020 Feasibility Study (FS) which is intended to be read as a whole and sections should not be read or relied upon out of context. The information in this presentation is subject to the assumptions, exclusions and qualifications cont
Slide 15: Significant Leverage to Higher Gold Prices
SIGNIFICANT LEVERAGE TO HIGHER GOLD PRICES TRADING AT DEEP DISCOUNT TO PROJECT NET PRESENT VALUE 1 $2,350 $4,603 $2,943 Gold Price (US$/oz) $2,100 $3,815 $2,404 $1,850 $3,026 $1,864 $1,600 $2,232 NPV at 0% $1,320 NPV at 5% $1,350 $1,434 $771 Perpetua Mkt Cap2 $160 Current Mkt Cap2 Only 9% of NPV2 (5
Slide 16: U.S. Critical Minerals Supply Chain Risk
U.S. CRITICAL MINERALS SUPPLY CHAIN RISK USES FOR ANTIMONY “Critical Minerals” are metals and non-metals essential to economic and national security Energy and are vulnerable to supply chain disruptions World Antimony 2021 Production (USGS) CRITICAL Flame Ceramics Turkey Other Australia Bolivia Reta
Slide 17: Expected to Average ~35% of U.S. Demand
EXPECTED TO AVERAGE ~35% OF U.S. DEMAND1,2 Stibnite Gold Project Recovered Antimony2 60,000,000 50,000,000 2021 U.S. Annual Consumption1 40,000,000 Antimony (lbs) 51% 30,000,000 44% 33% 34% 20,000,000 21% 15% 10,000,000 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Stibnite Gold Project - Year of Oper
Slide 18: Our Approach
OUR APPROACH Responsible mining is essential to a more sustainable future • Restore and develop abandoned brownfield site • Leave the area better than we found it • Create a legacy of economic benefits for the region • Provide critical minerals needed for secure supply chains • Be transparent, liste
Slide 19: A Unique American Opportunity
A UNIQUE AMERICAN OPPORTUNITY ✓ Redeveloping one of largest, highest grade and lowest cost gold projects in the U.S.* ✓ Superior project economics with ~15 year reserve life and <3 year payback period * ✓ Providing a U.S critical mineral to power batteries enabling the low-carbon energy transition a
Slide 20: Thank you.
Investor Webinar – November 2022 N A S DAQ : P P TA T SX : P PTA Thank you. www.perpetuaresources.com Twitter: @Perpetua_Idaho info@perpetuacorp.us Facebook: @PerpetuaResources LinkedIn: Perpetua Resources Tour the Stibnite Gold Project Virtually: www.perpetuaresources.com/virtual-site-tour/
Slide 21: Regulatory Information
REGULATORY INFORMATION The FS was compiled by M3 Engineering & Technology Corporation (“M3”) in accordance with NI 43-101 under the direction of independent qualified persons (as defined in NI 43-101) (“Independent QPs”). Independent QPs for the FS include: Richard Zimmerman, SME-RM (onsite and offs
Slide 22: Non-GAAP Measures
NON-GAAP MEASURES NON-GAAP MEASURES To provide investors with additional information in connection with our results as determined in accordance with generally accepted accounting principles in the United States (“GAAP”), we disclose certain projected non-GAAP financial measures. The projected non-GA
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