Perpetua Resources Corp. · TSX:PPTA
Perpetua Resources — Investor Presentation (March 2023)
25 slides from Perpetua Resources's investor presentation, March 2023
Slide 1: Investor Webinar – March 2023
Investor Webinar – March 2023 N A S DAQ : P P TA T SX : P P TA 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 * ✓ Establishing a national strategic asset with a critical mineral essential for national defense and th
Slide 5: The Stibnite Gold Project
THE STIBNITE GOLD PROJECT Our goal is to transform an area abandoned after 100 years of mining activity into a national strategic asset for critical mineral and gold production through responsible mining and a sustainable approach to restore the environment for the benefit of all stakeholders. 5
Slide 6: Mineral Resources & Reserves
MINERAL RESOURCES & RESERVES 1 Proven & Probable Mineral Reserves2: Measured & Indicated Mineral Resources3: 4.8 Mozs Gold @1.43 g/t 6.0 Mozs Gold @1.42g/t 148 Mlbs antimony at 0.06% contained in 104 Mt 206 Mlbs antimony at 0.07% contained in 132 Mt 3.500 Gold M&I Mineral Resource Gold (thousands ou
Slide 7: Idaho: A Premier Mining Jurisdiction
IDAHO: A PREMIER IDAHO Lucky Friday Mine MINING JURISDICTION Golden Chest Mine Idaho Strategic Resources Coeur d’Alene Hecla Mining Galena Complex Sunshine Mine Americas Gold and Silver Sunshine Silver Stibnite Gold • Top 10 Mining Jurisdiction in the World* Project (Au-Sb) Perpetua Resources Beartr
Slide 8: 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 9: Strong Support for the Stibnite Gold Project
STRONG SUPPORT FOR THE STIBNITE GOLD PROJECT Americans are ready to move forward with domestic critical mineral development. 16% negative ✓ Over 80% of the 19,000+ comment letters were positive ✓ Every U.S. state represented 75-Day Comment Period 84% ✓ Clear sense of urgency for domestic antimony pr
Slide 10: Changing the Face of Mining
CHANGING THE FACE OF MINING STRONG ENVIRONMENTAL, SOCIAL & GOVERNANCE PRINCIPLES BUILT INTO 67% 2020 CORE BUSINESS PLANS of executive Laurel Sayer named CEO ✓ Community Agreement signed in 2018 management are of Perpetua Resources ✓ Adopted ESG policy in 2019 female Corp & Perpetua Resources Idaho ✓
Slide 11: Restoring an Abandoned Brownfields Site
RESTORING AN ABANDONED BROWNFIELDS SITE ENVIRONMENTAL SOLUTIONS FUNDED THROUGH MINE DEVELOPMENT SEDIMENTATION METAL LEACHING BLOCKED FISH MIGRATION Early repair of the largest Pick up, reprocess, reuse and Re-establish fish migration and provide source of sedimentation safely store 10.5M tons of tem
Slide 12: Establishing a National Strategic Asset
ESTABLISHING A NATIONAL STRATEGIC ASSET ANTIMONY - IT’S CRITICAL ✓ Essential to economic and national security USES FOR ANTIMONY ✓ U.S. has no domestic mined production ✓ Clean energy & national defense applications ✓ China & Russia dominate the world supply (>70%) Energy World Antimony 2022 Product
Slide 13: Antimony in the Defense Sector
ANTIMONY IN THE DEFENSE SECTOR ANTIMONY APPLICATIONS FOR THE MILITARY ✓ Ammunitions ✓ Hardening Lead: Bullets & Shrapnel ✓ Ammunition Primers ✓ Armor Piercing Projectiles ✓ Explosive Formulations ✓ Nuclear Weapons & Reactors ✓ Night Vision Goggles ✓ Tritium Production ✓ Military Clothing ✓ Flares ✓
Slide 14: Antimony
Antimony CRITICAL FOR A SECURE FUTURE. Bullets are seen in front of an American-made F-16V fighter during a military exercise in Taiwan on Jan. 15, 2020. (Chiang Ying-ying/AP)
Slide 15: Defense Production Act (DPA) Award
DEFENSE PRODUCTION ACT (DPA) AWARD Critical minerals award of up to $24.8 million to advance construction readiness and permitting ✓Up to $24.8 million to complete environmental and engineering studies necessary to obtain a Final EIS, Final Record of Decision and other ancillary permits ✓Funding all
Slide 16: Plan to Produce ~35% of Total U.S. Demand
PLAN TO PRODUCE ~35% OF TOTAL U.S. DEMAND1,2 Stibnite Gold Project Recovered Antimony2 60,000,000 50,000,000 2022 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 Op
Slide 17: 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 18: Lowest Quartile All-In Sustaining Costs
LOWEST QUARTILE ALL-IN SUSTAINING COSTS 1 Lowest cost among 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 3 Perpetua (Stibnite) LoM $636 Skeena (Eskay Creek) $652 Novagold
Slide 19: 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 $207 Current Mkt Cap2 Only 11% of NPV2 (
Slide 20: 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 66% 67% 50% 44% 37% 39% 9% 11% 0% 1,2 Integra Perpetua Skeena Artemis Marathon Ascot NovaGold 1. Perpetua Resources market cap based on fully diluted market cap using closing price as of Februar
Slide 21: Gaining Momentum with Near-Term Catalysts
GAINING MOMENTUM WITH NEAR-TERM CATALYSTS Recent Accomplishments: Anticipated Milestones1: ✓ Signed Antimony agreement with Ambri (Aug 2021) ❑ Final Environmental Impact Statement & Draft Record of Decision (mid 2023)2 ✓ Launched Sustainability Roadmap (Apr 2022) ❑ Final Record of Decision (late 202
Slide 22: 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 * ✓ Establishing a national strategic asset with a critical mineral essential for national defense
Slide 23: Thank you.
Investor Webinar – March 2023 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 24: 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 25: 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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