Newmont Corporation · NYSE:NEM
Newmont — Investor Presentation (November 2023)
70 slides from Newmont's investor presentation, November 2023
Slide 1: Investor Presentation
Investor Presentation CREATING VALUE & IMPROVING LIVES NOVEMBER 2023 THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements, Including Outlook
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS, INCLUDING OUTLOOK This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to
Slide 3: 100+ Years of Value Creation Through Sustainable and Responsible Mining
SUSTAINABLE BUSINESS. ENDURING VALUE. COMMITMENT TO INDUSTRY PROVEN DISCIPLINED CAPITAL LEADING ESG PRACTICES LEADING PORTFOLIO OPERATING MODEL ALLOCATION STRATEGY Creating value and improving lives Tier 1 assets in favorable Experienced leaders with strong Balanced approach to deliver for all stake
Slide 4: Portfolio of Tier 1 Assets with Gold & Copper Exposure
TIER 1 OPERATIONS WITH GOLD & COPPER EXPOSURE PORTFOLIO OF STABLE MINING ROBUST COPPER BRUCEJACK TIER 1 ASSETS JURISDICTIONS PRODUCTION MUSSELWHITE RED CHRIS 10 ~80% ~150ktonnes ÉLÉONORE Tier 1 District Golden Triangle ~2/3 of total gold production from Gold and copper production from the Annual cop
Slide 5: Experienced Leaders with a Proven Track Record
EXPERIENCED LEADERS WITH A PROVEN TRACK RECORD GLOBAL BUSINESS SUBJECT MATTER AROUND THE CLOCK UNITS EXPERTS TECHNICAL SUPPORT 6 1,000+ 24/7 Each with a dedicated regional platform Technical team with ~75 centuries of Continuous monitoring and support to NORTH AMERICA and Managing Director combined
Slide 6: Integration Focused on Three Key Systems
INTEGRATION FOCUSED ON THREE KEY SYSTEMS FATALITY RISK MANAGEMENT PROGRAM Focused on eliminating the risks that could lead to a fatality with a laser focus on disciplined safety fundamentals RESPECT AT WORK PROGRAM Taking action to create a workplace where everyone is welcomed and safe FULL POTENTIA
Slide 7: Newcrest Transaction to Deliver Significant Synergies
NEWCREST TRANSACTION TO DELIVER SIGNIFICANT SYNERGIES ▪ G&A synergies and supply chain optimization: – Scalable operating model with existing regional $200M $500M teams in Australia and Canada – Bulk purchasing power and best-in-class pricing – Strong partnerships with key suppliers, Full Potential
Slide 8: Commitment to Leading ESG Practices
Commitment to Leading CREATING VALUE & IMPROVING LIVES ESG Practices THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 8
Slide 9: Fatality Risk Management Program: A Five-Year Lookback
FATALITY RISK MANAGEMENT PROGRAM: A FIVE-YEAR LOOKBACK FOCUSING ON CRITICAL REDUCING SIGNIFICANT LOWER INJURIES STRIVING TO REMAIN CONTROL VERIFICATIONS POTENTIAL EVENTS RECORDED FOR SPEs FATALITY FREE 1.6M 73% 82% 5 Years Verifications conducted by leaders in the Decrease in significant potential e
Slide 10: Significant Milestones in Our ESG Journey
SIGNIFICANT MILESTONES THE GOLD SECTOR’S IN OUR ESG RECOGNIZEDSUSTAINABILITY JOURNEY JOURNEY SUSTAINABILITY LEADER 2001 2004 2007 2013 2016 2020 Founding member Established Safety Appointed Adopted Conflict-Free Sustainability and Implementing Global of ICMM & Sustainability Company’s first Gold Sta
Slide 11: The Gold Sector's Recognized Sustainability Leader
THE GOLD SECTOR’S RECOGNIZED SUSTAINABILITY LEADER SAM S&P (DJSI) SUSTAINALYTICS TRANSPARENCY CLIMATE 100% Percentile ranking 22 ESG Risk Rating measures exposure and #1 Most transparent company in A- CDP Climate Scores reflective of global metals and mining sector management of material ESG risks*
Slide 12: Industry Leading Portfolio
Industry Leading CREATING VALUE & IMPROVING LIVES Portfolio THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 12
Slide 13: The Industry's Best Collection of Tier 1 Assets
THE INDUSTRY’S BEST COLLECTION OF TIER 1 ASSETS 2022 GEO PRODUCTION FROM TIER 1 ASSETS (koz) Assets Managed by Precious Metals Producers Managed Operation Non-Managed Joint Venture 1,800 1,500 1,200 900 600 Pueblo Viejo* Boddington Peñasquito Turquoise 300 Cadia** Cortez* Tanami Carlin* Lihir** Ridg
Slide 14: Boddington: A Cornerstone Gold-Copper Mine in Australia
BODDINGTON: A CORNERSTONE GOLD-COPPER MINE IN AUSTRALIA STRONG ANNUAL RECORD MILL FIRST AUTONOMOUS FIRST TO IMPLEMENT PRODUCTION PERFORMANCE HAUL FLEET FULL POTENTIAL >1 Moz Gold equivalent ounces produced >40 Mt Pushing beyond nameplate capacity 41 Trucks Fully-autonomous vehicles deliver safety >$
Slide 15: Peñasquito: Large Polymetallic Mine in Mexico
PEÑASQUITO: LARGE POLYMETALLIC MINE IN MEXICO PRODUCER OF GOLD, SYNERGIES FROM SILVER, LEAD AND ZINC GOLDCORP ACQUISITION >1 Moz Annual GEOs produced from 2020 >$700M Annual free cash flow improvements through 2022 since acquired in 2019 OPTIMIZED MILL LOAD AND HAUL PERFORMANCE IMPROVEMENTS $300M Sy
Slide 16: Tanami: A Turnaround Story in Australia
TANAMI: A TURNAROUND STORY IN AUSTRALIA HISTORY OF PROFITABLE RELIABLE, LONG-LIFE PRODUCTION ENERGY SUPPLY >20 Years Committed to first expansion in 2015 20% Lower costs and emissions from with a dual decline and mill expansion construction of a 450km gas pipeline SECOND EXPANSION INCREASING ANNUAL
Slide 17: Ahafo: District-Level Strategy in Ghana
AHAFO: DISTRICT-LEVEL STRATEGY IN GHANA LARGEST GOLD MINE REACHED TIER 1 STATUS AHAFO NORTH CREATES LONG-TERM DISTRICT IN GHANA* THROUGH INVESTMENT TOP GOLD COMPLEX STRATEGY >8 Moz Cumulative ounces produced since >500 Koz Annual production following Subika UG ~850 Koz Expected annual production fro
Slide 18: Applying Full Potential to Acquired Operations
APPLYING FULL POTENTIAL TO ACQUIRED OPERATIONS CADIA, AUSTRALIA BRUCEJACK, CANADA RED CHRIS, CANADA LIHIR, PAPUA NEW GUINEA TELFER, AUSTRALIA NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 18
Slide 19: Proven Operating Model
Proven Operating CREATING VALUE & IMPROVING LIVES THROUGH SUSTAINABLE, Model RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 19
Slide 20: Operating Model Drives Continuous Improvement
OPERATING MODEL DRIVES CONTINUOUS IMPROVEMENT Diagnose Design Deliver Refresh EXTERNAL SPEND & PROCESSING – 35% OTHER – 25% ✓ Full Potential program engrained in Newmont’s Increasing Throughput and Supply Chain, Asset Recoveries operating model and culture Management and G&A Improvements ✓ Vehicle f
Slide 21: Goldcorp Acquisition: A Four-Year Look Back
GOLDCORP ACQUISITION: A FOUR-YEAR LOOK BACK VALUE DELIVERED SINCE ACQUISITION CLOSED APRIL 18, 2019 SYNERGIES FROM PROCEEDS FROM GOLDCORP ASSETS PORTFOLIO OPTIMIZATION $1.1B $2.2B Annual value, surpassing initial Includes $1.5B in disposals within the first commitment of $365M in first 18 months 12
Slide 22: Disciplined Capital Allocation Strategy
Disciplined Capital CREATING VALUE & IMPROVING LIVES Allocation Strategy THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 22
Slide 23: Disciplined Capital Allocation Strategy Unchanged
DISCIPLINED CAPITAL ALLOCATION STRATEGY UNCHANGED MAINTAINING FINANCIAL FLEXIBILITY Sustain an Investment-Grade Balance Sheet with Strength & Flexibility BALANCED INVESTING IN SUSTAINABLE PRODUCTION CAPITAL ALLOCATION Reinvest in the Business to Improve Cash Margins Over the Long Term STRATEGY RETUR
Slide 24: The Industry's Strongest Balance Sheet
THE INDUSTRY’S STRONGEST BALANCE SHEET CASH AND CASH NET DEBT TO TOTAL LIQUIDITY* EQUIVALENTS* ADJUSTED EBITDA** $6.2B Cash Balance and Undrawn Revolving $3.2B Maintaining Strength During Time of 0.7x Substantially Below Target of Credit Facility Meaningful Reinvestment Less than 1.0x WEIGHTED AVERA
Slide 25: 2023 Dividend Payout Range Set Within Established Framework
2023 DIVIDEND PAYOUT RANGE SET WITHIN ESTABLISHED FRAMEWORK INDUSTRY-LEADING DIVIDEND FRAMEWORK 2023 DIVIDEND PAYOUT RANGE* ▪ Base dividend of $1.00/share at a $1,400 gold reserve price $2.00 – 3.00 ▪ Variable component based on incremental Free Cash Flow ▪ Calibrated on gold price, evaluated in inc
Slide 26: Q3 2023 Results
Q3 2023 Results CREATING VALUE & IMPROVING LIVES THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 26
Slide 27: Third Quarter 2023 Highlights
THIRD QUARTER 2023 HIGHLIGHTS Produced 1.3M attributable ounces of Advancing near-term development gold* and 10k tonnes from copper; projects and achieved significant building momentum for a strong Q4 project milestones in Q3 Generated $933M in Adjusted EBITDA Peñasquito workforce has begun the and
Slide 28: Third Quarter Financial Performance
THIRD QUARTER FINANCIAL PERFORMANCE CASH FROM REVENUE CONTINUING OPS $2.5B $1.0B ADJUSTED CAPITAL EBITDA* SPEND $933M $604M CASH & CASH FREE CASH EQUIVALENTS FLOW* $3.2B $397M *See endnotes. Maintained Net Debt to Adjusted EBITDA Ratio of 0.7x* and Received First-Time A- Rating From Fitch NOVEMBER 2
Slide 29: 2023 Outlook for Newmont Stand-Alone Portfolio
2023 OUTLOOK FOR NEWMONT STAND-ALONE PORTFOLIO*** ATTRIBUTABLE GOLD PRODUCTION FROM SUSTAINING PRODUCTION* OTHER METALS CAPITAL 5.3Moz $1.4B 100Mlbs Copper Produced 15Moz Silver Produced 100Mlbs Lead Produced Expecting to finish the year with the Higher spend anticipated in Q4, driven year’s stronge
Slide 30: Considerations for 2024 Outlook
CONSIDERATIONS FOR 2024 OUTLOOK 2024 outlook for the combined portfolio to be provided in February 2024 with Q4 2023 earnings 2024 dividend payout range to be calibrated based on 2024 outlook; assessed annually and effective for the Q4 dividend declared Taking time to assess and integrate the Newcre
Slide 31: Appendix
Appendix CREATING VALUE & IMPROVING LIVES THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 2023 INVESTOR PRESENTATION NEWMONT CORPORATION 31
Slide 32: Newcrest Acquisition Underpinned by Clear Strategy
NEWCREST ACQUISITION UNDERPINNED BY CLEAR STRATEGY STRATEGIC DRIVERS NEWCREST PORTFOLIO NEWMONT 2050 Responsible Gold Tier 1 Assets & Leading Portfolio of Tier 1 Leadership Projects Assets & Projects Global Megatrends Industry World’s Most Favorable STRATEGIC Australia & Canada Consolidation Mining
Slide 33: Newmont & Newcrest – A Powerful Value Proposition
NEWMONT & NEWCREST – A POWERFUL VALUE PROPOSITION The New World-Class Delivering Driving SUSTAINABILITY STANDARD PORTFOLIO SYNERGIES CAPITAL ALLOCATION The Gold Sector’s Recognized 10 Tier 1 Operations with Proven Track Record of Newmont Committed to Leading Shareholder Sustainability Leader Gold &
Slide 34: Combined Two of Australia's Top Gold Producers
COMBINED TWO OF AUSTRALIA’S TOP GOLD PRODUCERS ▪ Long history and shared heritage in Australia; Newmont established the subsidiary in 1966 that would become Newcrest 25 years later ▪ Combined two of Australia’s top gold miners to create a multi-decade gold and TANAMI copper production profile TELFER
Slide 35: Boddington: Site Facts
BODDINGTON: SITE FACTS TANAMI Ownership: 100% TELFER Location: 81 miles southeast of Perth, Western Australia AKYEM Operations: Two open pits – North and South Process: Milling: three-stage crushing facility, four ball mills, flotation circuit and carbon-in-leach (CIL) circuit CADIA Reserves: Gold 1
Slide 36: Tanami: Site Facts
TANAMI: SITE FACTS Ownership: 100% TANAMI Location: 342 miles northwest of Alice Springs, Northern Territory TELFER Operations: One underground mine at Dead Bullock Soak Process: Processing plant consists of crushing and grinding circuit, gravity carbon-in- pulp tanks Reserves: Gold 5.7Moz CADIA Res
Slide 37: Tanami Expansion 2: Investing in Future Growth and Profitability
TANAMI EXPANSION 2: INVESTING IN FUTURE GROWTH AND PROFITABILITY OPERATIONAL EFFICIENCY IMPROVES MARGINS PROGRESSING TANAMI EXPANSION 2 ▪ Delivers a 1.5km deep production shaft, reducing operating costs ▪ Supports Tanami’s future as a long-life, low-cost producer and unlocks by ~10% through efficien
Slide 38: Integrating a Tier 1 Gold Mine in Papua New Guinea
INTEGRATING A TIER 1 GOLD MINE IN PAPUA NEW GUINEA ▪ Lihir is one of the world’s top gold mines with a track record of stable production and near-mine organic growth opportunities ▪ Wafi-Golpu project adds gold and copper optionality with several of the best LIHIR copper-gold porphyry intersections
Slide 39: Strengthening Newmont's Position in Canada
STRENGTHENING NEWMONT’S POSITION IN CANADA ▪ Solidified leadership position in Canada through 5 operating mines and development projects in British Colombia ▪ Creating a Tier 1 district in the highly prospective Golden Triangle region of British Columbia GALORE CREEK ▪ Leveraging Newmont’s existing
Slide 40: Musselwhite: Site Facts
MUSSELWHITE: SITE FACTS Ownership: 100% Location: Ontario, Canada Operations: Underground - long-hole open stoping, longitudinal retreat (Avoca) GALORE CREEK and raise mining (Alimak) SADDLE NORTH Process: Crushing, grinding, leaching by cyanidation, carbon-in-pulp recovery RED CHRIS Reserves: Gold
Slide 41: Éléonore: Site Facts
ÉLÉONORE: SITE FACTS Ownership: 100% Location: Quebec, Canada Operations: Underground GALORE CREEK SADDLE NORTH Process: Crushing, grinding, gravity flotation and cyanidation RED CHRIS Reserves: Gold 1.6Moz Resources: Gold 0.9Moz** BRUCEJACK ÉLÉONORE Reserve Grade and Recovery: 5.22 grams/tonne, 92%
Slide 42: Porcupine: Site Facts
PORCUPINE: SITE FACTS Ownership: 100% Location: Ontario, Canada Operations: Underground GALORE CREEK SADDLE NORTH Process: Crushing, grinding, gravity flotation and cyanidation RED CHRIS Reserves: Gold 2.3Moz Resources: Gold 7.3Moz** BRUCEJACK ÉLÉONORE Reserve Grade and Recovery: 1.93 grams/tonne, 9
Slide 43: Cripple Creek & Victor (CC&V): Site Facts
CRIPPLE CREEK & VICTOR (CC&V): SITE FACTS Ownership: 100% Location: Near the towns of Cripple Creek and Victor, Colorado Operations: Four open pits CC&V Process: Heap leaching only (ceased milling operations in Q1 2021) Reserves: Gold 1.6Moz Resources: Gold 1.8Moz* Reserve Grade and Recovery: 0.52 g
Slide 44: Akyem: Site Facts
AKYEM: SITE FACTS Ownership: 100% Location: 80 miles northwest of Accra, Ghana Operations: Single open pit mine AKYEM Process: Conventional mill and standard carbon-in-leach circuit for processing ore Reserves: Gold 1.5Moz Resources: Gold 1.7Moz** AHAFO SOUTH Reserve Grade and Recovery: 1.33 grams/t
Slide 45: Ahafo South: Site Facts
AHAFO SOUTH: SITE FACTS Ownership: 100% Location: 180 miles northwest of Accra, Ghana Operations: Open pits – Subika, Amoma, Apensu, Awonsu; Underground – Subika AKYEM Process: Conventional mill and standard carbon-in-leach circuit for processing ore Reserves: Gold 5.7Moz Resources: Gold 5.1Moz** AH
Slide 46: Ahafo North: Best Unmined Deposit in West Africa
AHAFO NORTH: BEST UNMINED DEPOSIT IN WEST AFRICA EXPANDING CURRENT FOOTPRINT IN GHANA PROGRESSING AHAFO NORTH ▪ Open pit mine, stand-alone mill for processing 3.8Mozs of Reserve ▪ Investment of $950-$1,050M; commercial production anticipated in and 1.4Mozs of Resource late 2025 ▪ 13-year mine life w
Slide 47: Peñasquito: Site Facts
PEÑASQUITO: SITE FACTS Ownership: 100% Location: 200km northeast of the city of Zacatecas, Mexico Operations: Two open pits – Peñasco and Chile Colorado Process: Two identical parallel circuits with semi-autogenous grinding and ball milling with a high-pressure grinding roll for augmenting feed rate
Slide 48: Cerro Negro: Site Facts
CERRO NEGRO: SITE FACTS MERIAN Ownership: 100% Location: 250 miles southwest of the coastal city of Comodoro Rivadavia, Argentina YANACOCHA Operations: Eureka, Mariana Central and Mariana Norte undergrounds (long hole open stoping) Process: Crushing, grinding, leaching by cyanidation, carbon-in-pulp
Slide 49: Merian: Site Facts
MERIAN: SITE FACTS MERIAN Ownership: 75% owned and operated; Joint Venture with Staatsolie Location: 66 kilometers south of Moengo, Suriname YANACOCHA Operations: Two open pits – Merian 2 and Maraba Process: : Conventional mill and standard carbon-in-leach circuit for processing ore Reserves (attrib
Slide 50: Yanacocha: Site Facts
YANACOCHA: SITE FACTS MERIAN Ownership: 100% (acquired remaining ownership in 2022 – 43.56% from Buenaventura and 5% from Sumitomo) YANACOCHA Location: 375 miles north of Lima, Peru in Cajamarca region Operations: La Quinua and Carachugo Process: : Heap leaching – La Quinua and Carachugo Reserves: G
Slide 51: Yanacocha Sulfides: Assessing Optionality
YANACOCHA SULFIDES: ASSESSING OPTIONALITY POSSIBILITIES WITHIN CURRENT FOOTPRINT REVIEWING THE SULFIDES PROJECT ▪ First phase includes Yanacocha Verde and Chaquicocha deposits ▪ Evaluating further opportunities to resequence project capital and to profitably extend Yanacocha operations beyond 2040 r
Slide 52: Non-Managed Joint Ventures: Nevada Gold Mines Site Facts
NON-MANAGED JOINT VENTURES: NEVADA GOLD MINES SITE FACTS NEVADA GOLD MINES Ownership: 38.5% (non-operator); Joint Venture with Barrick Location: Northern Nevada PUEBLO VIEJO Operations: Eight mines, including three Tier 1 assets (Carlin, Cortez and Turquoise Ridge); open pit and underground Proce
Slide 53: Non-Managed Joint Ventures: Pueblo Viejo Site Facts
NON-MANAGED JOINT VENTURES: PUEBLO VIEJO SITE FACTS NEVADA GOLD MINES Ownership: 40% (non-operator); Joint Venture with Barrick Location: Dominican Republic PUEBLO VIEJO Method: Equity method investment (production only) Reserves (attributable): Gold 8.2Moz, Silver 51.0Moz Resources (attributabl
Slide 54: Nevada Joint Venture Processes
NEVADA JOINT VENTURE PROCESSES FOR CONTRIBUTING EXCLUDED ASSETS FOUR MILE (BARRICK), FIBERLINE (NEWMONT) AND MIKE (NEWMONT): ▪ Party that owns asset has obligation to contribute upon completion of successful Feasibility Study, which requires a project IRR of at least 15% ▪ Feasibility Study must be
Slide 55: Broad Management Experience
BROAD MANAGEMENT EXPERIENCE EXECUTIVE LEADERSHIP TEAM BOARD OF DIRECTORS Tom Palmer Karyn Ovelmen Peter Toth Greg Boyce, Chair Bruce R. Brook Maura Clark René Médori President and CEO Chief Financial Officer Chief Development Officer Natascha Viljoen Rob Atkinson Suzy Retallack Chief Operating Offic
Slide 56: Expanding Shareholder Outreach with ASX Listing
EXPANDING SHAREHOLDER OUTREACH WITH ASX LISTING MAINTAINING A STRONG PRESENCE IN NORTH AMERICA ▪ Publicly traded on the NYSE since 1925 and the only gold producer listed in the S&P 500 Index ▪ Corporate headquarters in the U.S. ▪ Participation in major investor conferences and road shows in U.S, Can
Slide 57: ASX CDI Mechanics
ASX CDI MECHANICS CDI OVERVIEW STOCK-HOLDING STRUCTURE (Excluding TSX + PDI holders*) ▪ A Chess Depositary Interest (CDI) is a type of depositary receipt that is similar to an American Depositary Interest ▪ A CDI is an instrument through which investors can acquire an interest in Newmont that will b
Slide 58: 2023 Standalone Newmont Outlook
2023 Standalone Newmont Outlooka Guidance Metrics 2023E a 2023 outlook projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of October 26, Gold ($1,900/oz price assumption) 2023, excluding Newcrest Minin
Slide 59: Adjusted Net Income (Loss)
Adjusted net income (loss) Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows: (1) Per share measures may not recalculate due to rounding. (2) Reclamation and remediation charges, included in Reclamation and remediation, represent revisions
Slide 60: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows: (1) Reclamation and remediation charges, included in Reclamation and remediation, represent revisions to reclamation and remediation plans at the Company's former
Slide 61: Free Cash Flow
Free cash flow The following table sets forth a reconciliation of Free Cash Flow to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure most directly comparable to Free Cash Flow, as well as information regarding Net cash provided by (used
Slide 62: Attributable Free Cash Flow
Attributable free cash flow Management uses Attributable Free Cash Flow as a non-GAAP measure to analyze cash flows generated from operations that are attributable to the Company. Attributable Free Cash Flow is Net cash provided by (used in) operating activities after deducting net cash flows from o
Slide 63: Costs Applicable to Sales
Costs Applicable to Sales Costs applicable to sales per ounce/gold equivalent ounce are calculated by dividing the costs applicable to sales of gold and other metals by gold ounces or gold equivalent ounces sold, respectively. These measures are calculated for the periods presented on a consolidated
Slide 64: All-in Sustaining Costs
All-in Sustaining Costs All-in sustaining costs represent the sum of certain costs, recognized as GAAP financial measures, that management considers to be associated with production. All-in sustaining costs per ounce amounts are calculated by dividing all-in sustaining costs by gold ounces or gold e
Slide 65: All-in Sustaining Costs
All-in Sustaining Costs All-in sustaining costs represent the sum of certain costs, recognized as GAAP financial measures, that management considers to be associated with production. All-in sustaining costs per ounce amounts are calculated by dividing all-in sustaining costs by gold ounces or gold e
Slide 66: Gold All-In Sustaining Costs - 2023 Outlook
Gold All-In Sustaining Costs - 2023 Outlook A reconciliation of the 2023 Gold AISC outlook to the 2023 Gold CAS outlook is provided below. The estimates in the table below are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Sec
Slide 67: Net Debt to Adjusted EBITDA Ratio
Net Debt to Adjusted EBITDA Ratio Management uses net debt to Adjusted EBITDA as non-GAAP measures to evaluate the Company’s operating performance, including our ability to generate earnings sufficient to service our debt. Net debt to Adjusted EBITDA represents the ratio of the Company’s debt, net o
Slide 68: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with the most recent Form 10-Q for the quarter ended September 30, 2023 filed with the SEC on October 26, 2023. Investors are reminded that expectations regarding outlook and guidance, including f
Slide 69: Endnotes
Endnotes Adjusted Net Income. Adjusted Net Income is a non-GAAP metric. Adjusted Net Income per share refers to Adjusted Net Income per diluted share. See appendix or more information and reconciliation to the nearest GAAP metric. Free Cash Flow. FCF is a non-GAAP metric and is generated from Net ca
Slide 70: Endnotes
Endnotes Cautionary Statement Regarding Mineral Reserve and Resource Estimates. The reserve and resource estimates herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the SEC and represent the amount of gold, copper, silver, lead, zinc and molybdenum estimated at Decemb