Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Denver Gold Forum 2017

55 slides from Ssr Mining's conference presentation, Sep 26, 2017

  1. Slide 1: Creating Value

    CREATING VALUE September 2017 Corporate Presentation

  2. Slide 2: Cautionary Notes

    Cautionary Notes Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “f

  3. Slide 3: Track Record of Delivering Value and Growth

    Track Record of Delivering Value and Growth  Strong financial performance and balance sheet with $354M in cash  Diversified suite of operations in good jurisdictions with exploration upside  Capable management team with a track record of capital discipline  Five-year production growth to +440,00

  4. Slide 4: Evolution to a 'Tier 1' Intermediate Producer

    Evolution to a ‘Tier 1’ Intermediate Producer 500 1,600 1,400 400 1,200 Gold-Equivalent Production (k oz) Cash Costs ($/oz Gold-Equivalent) 1,000 300 800 200 600 400 100 200 0 0 2012A 2013A 2014A 2015A 2016A 2017E 2018E 2019E 2020E 2021E POI MMC SGO Cash Costs Notes: Production and cash costs for 20

  5. Slide 5: Improved 2017 Production and Cash Costs Guidance

    Improved 2017 Production and Cash Costs Guidance Marigold Seabee Puna SSR Mining Gold Gold Silver Gold Equivalent Production 205K – 215K oz 75K – 85K oz 5.0M – 6.0M oz 350K – 380K oz Cash Costs $12.50/oz – $640/oz – $670/oz $575/oz – $625/oz $680/oz – $725/oz (US$/oz) $14.00/oz* Mid-point Guidance 3

  6. Slide 6: Operational Excellence Focusses on the Process

    Operational Excellence Focusses on the Process Employee-centric, data driven … fast and structured Float / Final Drill Blast Load Haul Dump Crush Grind Leach Product  Focus on process stability before adding new capacity High Variability Stabilize Improve SSRM:NASDAQ/TSX PAGE 6

  7. Slide 7: Marigold Mine

    MARIGOLD MINE GROWTH IN NEVADA

  8. Slide 8: Marigold: Large Scale, Low-Cost Producer

    Marigold: Large Scale, Low-Cost Producer  Open pit, run-of-mine heap leach gold operation  2017 guidance: 205,000 to 215,000 ounces of gold produced at cash costs of $640 to $670 per ounce  ~200,000 tonnes of material moved per day Twin Creeks Goldstrike MARIGOLD Maverick Springs  Strong safety

  9. Slide 9: Marigold: Operating Outlook

    Marigold: Operating Outlook 2017 2018 2019 2020 2021 Gold production (Koz) 205 – 215 200 – 210 225 – 235 205 – 215 230 – 240 Cash costs ($/oz) $655 – $705 $830 – $880 $740 – $790 $660 – $710 $550 – $600 Capital investment ($M) $30 $35 $25 $20 $25 Capitalized deferred $20 $15 $15 $30 $70 stripping ($

  10. Slide 10: Marigold: Operating Cost Summary

    Marigold: Operating Cost Summary By process and by cost category (five-year outlook) G&A 8% Processing 13% $/tonne processed Mine Operations $5.36 Mine Processing $0.88 Operations 79% Royalties 15% G&A $0.54 Labour & Contractors Other Site 34% Total $6.78 Costs 11% Maintenance Parts 8% Fuel 13% Cons

  11. Slide 11: Creating Value with Operational Excellence

    Creating Value with Operational Excellence DRILL BLAST LOAD HAUL Reduced drills to four Improved blasting pattern / Used most effective shovel Implemented a ‘hot shift from six products and loading operator to train others change’ for truck operators sequence Cost per Foot Drilled Total Blasting Cos

  12. Slide 12: Marigold: Opportunities / Mining Cost per Tonne

    Marigold: Opportunities  Continue to deliver robust operating margins  Equipment replacement study  Mine-life extension through exploration at Valmy, East Basalt and Red Dot  Deep sulphide exploration $1.92 Mining Cost per Tonne $1.74 $1.70 $1.65 $1.65 $1.67 $1.61 $1.62 $1.57 $1.54 $1.55 $1.52 $

  13. Slide 13: Marigold: Exploration Success and Resource Conversion

    Marigold: Exploration Success and Resource Conversion N 8N 8D 8SX HideOut Mud Pits Valmy Battle Cry Mackay Pit East Basalt A’ B’ Basalt Pit A Reserve Pits Terry Zone North 2016 Resource Outline Resource Targets B 1 km Higher-grade discoveries since 2014  8SX: 91.4 m at 2.48 g/t Au  Valmy: 59.4 m a

  14. Slide 14: East Basalt Drill Results

    East Basalt Drill Results A EOY 2016 Resource Pit Shell A’ Original Surface Current Pit Surface MR6488 54.9 m at 0.69 g/t Incl. 6.1 m at 1.87 g/t Gold Grade (g/t) < 0.06 0.06 – 0.6 MRA6453 0.6 – 1.0 79.2 m at 1.36 g/t > 1.0 Incl. 6.1 m at 1.77 g/t Incl. 15.2 m at 2.49 g/t 75 meters W Incl. 10.7 m at

  15. Slide 15: Mackay Pit Drill Results

    Mackay Pit Drill Results B B’ EOY 2016 EOY 2016 Gold grade EOY 2016 Mackay July 2017 Pit Surface Original Surface Resource Pit Shell model Reserve Pit 1 km Terry Zone North Gold Grade (g/t) < 0.06 0.06 – 0.6 MRA6461 0.6 – 1.0 35.1 m at 0.86 g/t > 1.0 MRA6502 MRA6503 MRA6444 75 meters 59.4 m at 0.47

  16. Slide 16: Marigold: Equipment Replacement Study

    Marigold: Equipment Replacement Study In 2018, evaluate mine fleet investment plan  Scenario A: Replace existing mine fleet with like-for-like equipment consistent with current life of mine plan  Scenario B: Expand mine fleet with additional rope shovel, haul trucks and related support gear potent

  17. Slide 17: Seabee Gold Operation

    SEABEE GOLD OPERATION HIGH GRADE GOLD MINE

  18. Slide 18: Seabee: Overview

    Seabee: Overview High-margin underground operation in a stable jurisdiction  High-grade, underground mine in Saskatchewan, Canada  Mill operated at 870 tpd in 2016 (subsequent to acquisition on May 31, 2016)  2017 guidance: 75,000 to 85,000 ounces of gold produced at cash costs of $575 to $625 pe

  19. Slide 19: Seabee: Preliminary Economic Assessment

    Seabee: Preliminary Economic Assessment Expanded margins from higher throughput and grade  Increases mining rate by 21% to 1,050 tpd by 2019, compared to 2016  Mines 62% of Inferred Mineral Resources  Increases estimated LOM average gold production by 29% to 100,000 ounces per year (for the perio

  20. Slide 20: Increasing Production at Lower Costs

    Increasing Production at Lower Costs 140 $1,200 120 120 Acquired $1,000 the Seabee Gold Operation 108 $998 May 31, 2016 $954 100 100 89 $800 Cash Costs ($/ounce gold) Gold Production (k oz) $757 80 80 77 75 $663 $600 63 $600 $590 60 $540 $525 $504 50 45 $442 $400 40 $200 20 0 $- 2012A 2013A 2014A 20

  21. Slide 21: Seabee: Production from Inferred Mineral Resources

    Seabee: Production from Inferred Mineral Resources 100% 80% 60% 40% 20% 0% 2017 2018 2019 2020 2021 2022 2023 2024 % of Ounces Attributable to Measured and Indicated Mineral Resources % of Ounces Attributable to Inferred Mineral Resources Notes: The Seabee Gold Operation PEA is preliminary in nature

  22. Slide 22: Seabee: Reserves and Resources

    Seabee: Reserves and Resources As of December 31, 2016 Proven and Probable  1.37 Mt grading 8.19 g/t gold Mineral Reserves  Contained gold of 0.36 Moz Measured and Indicated  2.07 Mt grading 8.02 g/t gold Mineral Resources  Contained gold of 0.54 Moz Inferred  2.50 Mt grading 7.66 g/t gold Mine

  23. Slide 23: Seabee: PEA Capital Cost Summary

    Seabee: PEA Capital Cost Summary PEA Outlines a seven-year mine plan  Utilizes current infrastructure to reduce infrastructure capital of $50M through 2022  Capitalized development totals $23M through seven-year outlook  Capitalized exploration of $16M to convert Mineral Resources H2 2018 2019 20

  24. Slide 24: Seabee: PEA Operating Cost Summary

    Seabee: PEA Operating Cost Summary By process and by cost category (life of mine) $/tonne milled Mine G&A Operations 40% 45% Mining 1 $58 Processing $20 Processing 15% G&A $52 Other Site Costs 13% Fuel Total $130 6% Labour Power 38% 7% Consumables 15% Note: Total estimated operating costs in the Sea

  25. Slide 25: Seabee: Opportunities

    Seabee: Opportunities  Deliver on PEA expansion case to 1,050 tpd  Continue to expand the Santoy mine complex  Convert Inferred Resources to Measured and Indicated  Evaluate increasing milling capacity to 1,200 tpd  Drive Operational Excellence initiatives  Potential for near-mine site discove

  26. Slide 26: Large, Contiguous Land Package

    Large, Contiguous Land Package 23,300 Hectare land package at Seabee Carr target Seabee Mine/Mill Airstrip & camp Santoy Mine Fisher Exploration Camp 34,000 Hectare land package at Fisher Project (option agreement) 10 km All weather road Gold occurrence Santoy shear zone SSRM:NASDAQ/TSX PAGE 26

  27. Slide 27: PEA: Stope Production By Year

    PEA: Stope Production By Year Notes: The Seabee Gold Operation PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and t

  28. Slide 28: 2017 Santoy Exploration

    2017 Santoy Exploration Santoy Gap (9A, 9B, 9C) Santoy 8A 0m Elev 2.1m at 52.8g/t Gap HW 9.9m at 8.2g/t (JOY-16-749) 2.8m at 26.6g/t (SUG-17-300) -400m Elev 2.1m at 10.8g/t 5.5m at 12.4g/t 5.8m at 6.4g/t (SUG-17-919) 6.3m at 7.43g/t (SUG-17-041) (SUG-17-042) 7.0m at 7.17g/t (SUG-17-918) 2.8m at 6.5g

  29. Slide 29: Carr Exploration Target

    Carr Exploration Target Similarities to Santoy emerging  Long section looking west with vertical projection of intercepts on the 50 degree dipping inclined (plane dips to the east) South CAR-17-014 CAR-16-003 SAN-97-004 North _0m 31.64 g/t over 1.10 m 6.28 g/t over 1.50 m 9.03 g/t over 2.47 m CAR-1

  30. Slide 30: Fisher Project: Exploration Overview

    Fisher Project: Exploration Overview  Extension of the Pine Lake Greenstone Belt and the Santoy Shear  Work completed YTD 2017 Santoy Mine  Geochemistry (soils and till)  Structural mapping  Prospecting  Planned expenditures of C$700K in 2017  3,000 meters planned drilling in 2017 Santoy Shea

  31. Slide 31: Seabee: Value Creation Opportunity

    Seabee: Value Creation Opportunity Seabee Island Gold Lamaque Nevada Operations (SSR Mining) (Richmont Mines) (Eldorado Gold) (Klondex Mines)⁴ Average Mill Throughput (tpd) 1,050 1,100 1,675 772 Average Milled Grade (g/t) 8.3 9.7 7.0 20.0 Mine Life (years) 7 8 10 n.a Gold Recovery (%) 96.5% 96.5% 93

  32. Slide 32: Puna Operations

    PUNA OPERATIONS LARGE-SCALE SILVER PRODUCER

  33. Slide 33: Puna Operations

    Puna Operations Brownfields development for Pirquitas operating life extension  SSR Mining is the JV operator with a 75% controlling interest  Chinchillas is a silver-lead-zinc deposit located 45 km from the Pirquitas plant and facilities  Pirquitas plant capacity 5,000 tpd; operating life throug

  34. Slide 34: OE Case Study: Pirquitas Cost Reductions

    OE Case Study: Pirquitas Cost Reductions Results from sustained ‘OE’ activities over a 5-year period Increased Tonnes Milled by 20% Increased Grade with Collector Upgrade 6.0 20,000 Milling Rate (k tonnes) 5.0 Silver Grade (g/t) 15,000 4.0 10,000 3.0 5,000 0 2.0 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Ju

  35. Slide 35: Puna Operations: Near-Term Production Growth by 2019

    Puna Operations: Near-Term Production Growth by 2019 Attributable Silver-Equivalent Production Increasing to ~7.0M Ounces 12 $20 $18.90 10.9 10.4 $18 10.3 10 9.2 $16 8.9 $13.25 $13.83 Cash Costs ($/oz Silver-Equivalent) Silver-Equivalent Production (Moz) $14 8 $13.45 $12.19 $12.72 6.9 6.9 $12 6.8 $1

  36. Slide 36: Pirquitas Underground Opportunity

    Pirquitas Underground Opportunity Focused on mine-life extension and high grade silver  Potential for small-scale, high-grade ore supply from Cortaderas  Additional studies to be performed on Chocaya and Oploca Pirquitas Cortaderas open pit (mined out Jan 2017) San Miguel 600 meters Oploca Notes:

  37. Slide 37: Cortaderas: Geology

    Cortaderas: Geology  Zinc-rich silver mineralization  Resources to depth of 400 meters Cortaderas  Pre-feasibility would require:  1.5 km of lateral development  12.6 km infill drilling decision Drill bays Portal Pit Notes: Please refer to our news releases dated September 21, 2015 and February

  38. Slide 38: Puna Operations Looking Ahead

    Puna Operations Looking Ahead  Chinchillas: ‘brownfields-like’ development for near-term production growth  Represents operating life extension to 2025 with limited capex  Construction expected Q4 2017 (subject to permitting)  First ore production expected H2 2018 (subject to permitting)  Pirqu

  39. Slide 39: Portfolio Rationalization

    Portfolio Rationalization Maximizing value of portfolio with property sales 10 2 7 8. Maverick Springs 1 8 9. San Marcial Brucejack 7. Amisk Snowfield 1. Marigold 9 (Pretium) 5. San Luis 6 10. Sunrise Lake 4. Chinchillas Berenguela 2. Seabee Diablillos Candelaria 3. Pirquitas Bowdens San Agustin 6.

  40. Slide 40: SSR Mining Inc. Share Structure and Relative Performance

    SSR Mining Inc. Share capital structure, convertible note and top shareholders overview Top 10 Shareholders % of Shares Outstanding Institutional Holdings by Country 14% Van Eck Value 11.0% Renaissance Technologies 3.9% United States 9% Canada Investec Asset Management 2.5% Deutsche Bank 2.1% United

  41. Slide 41: Delivering value and growth for our shareholders

    SSR Mining Inc. Delivering value and growth for our shareholders Strong Track Record of Production Delivering Value Growth and Cost and Growth Profile Strong Financial Potential Mine Position and Life Extension Disciplined M+A and Exploration Approach Upside SSRM:NASDAQ/TSX PAGE 41

  42. Slide 42: Value & Growth

    Value & Growth SSRM:NASDAQ/TSX PAGE 42

  43. Slide 43: Seabee: PEA Financial Summary and Sensitivity Analysis

    Seabee: PEA Financial Summary and Sensitivity Analysis Cash Flows ($M) Pre-tax NPV (5%) Sensitivities ($M) Net Revenue $893.5 Gold Price ($/oz) Operating Costs $(346.0) $1,200 $1,300 $1,400 Royalties and Other $(28.5) 1.20:1 $289 $346 $403 Canadian Δ in Working Capital $10.3 Exchange 1.25:1 $307 $36

  44. Slide 44: Chinchillas Project: Data Sheet

    Chinchillas Project: Data Sheet (100% Basis) Near-term Production with Positive Pre-Feasibility Results Mine life: 8 years N Total material mined: 66.6 M tonnes Strip ratio: 4.7 Processing rate: 4,000 tpd 6.1 Moz Silver Average annual 35.0 Mlb Lead production (8 years active mining): 12.3 Mlb Zinc 8

  45. Slide 45: Pirquitas Underground Opportunity

    Pirquitas Underground Opportunity Focused on Mine Life Extension  Potential small-scale, high-grade ore feed from the Chocaya, Oploca and Cortaderas veins  Positive drill results from 2015 drill program:  3.16 meters at 1,436 g/t silver  1.93 meters at 1,890 g/t silver  0.83 meters at 2,670 g/t

  46. Slide 46: San Luis Project

    San Luis Project A unique high-grade gold reserve with exploration upside Feasibility Study Results (June 2010) Mine life: 3.5 years Average annual 1.9M oz Ag production: 78,000 oz Au Cash cost: $313 / oz Au 9.0M oz Ag at 578.1 g/t Resources (M+I): 0.35M oz Au at 22.4 g/t Capital: $90 -$100M Mill th

  47. Slide 47: Pitarrilla Project

    Pitarrilla Project One of the largest undeveloped silver resources in the world Feasibility Study Results (December 2012) Mine life: 32 years Average annual 15M oz Ag (1st 18 years) production: Cash cost: $10.01 / oz Ag 497.3M oz Ag at 96.7 g/t (open pit) Resources (M+I): 28.8M oz Ag at 173.5 g/t (U

  48. Slide 48: Mineral Reserves

    Mineral Reserves (as of December 31, 2016) Location Tonnes Silver Gold Zinc Silver Gold millions g/t g/t % million oz million oz Proven Mineral Reserves Seabee Canada 0.52 6.97 0.12 Total 0.12 Probable Mineral Reserves Marigold U.S. 185.00 0.45 2.67 Marigold Leach Pad Inventory U.S. 0.17 Seabee Cana

  49. Slide 49: Mineral Resources: Measured and Indicated

    Mineral Resources: Measured and Indicated (as of December 31, 2016) Location Tonnes Silver Gold Lead Zinc Silver Gold millions g/t g/t % % million oz million oz Measured Mineral Resources (Inclusive of Proven Mineral Reserves) Seabee Canada 0.81 7.71 0.20 Pitarrilla Mexico 10.13 91.7 0.70 1.23 29.8

  50. Slide 50: Mineral Resources: Inferred

    Mineral Resources: Inferred (as of December 31, 2016) Location Tonnes Silver Gold Lead Zinc Silver Gold millions g/t g/t % % million oz million oz Inferred Mineral Resources Marigold U.S. 53.60 0.41 0.70 Seabee Canada 2.50 7.66 0.62 Pirquitas Argentina 0.91 80.3 1.88 2.3 Pirquitas UG Argentina 0.94

  51. Slide 51: Reserves and Resources Notes to Tables

    Reserves and Resources Notes to Tables All estimates set forth in the Mineral Reserves and Mineral Resources table have been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The estimates of Mineral Reserves and Mineral Resources fo

  52. Slide 52: Chinchillas Mineral Reserves and Resources

    Chinchillas Mineral Reserves and Resources 100% Project Basis Mineral Resources Tonnes AgEq Ag Pb Zn AgEq Ag Pb Zn (as at Oct. 2, 2016) (Mt) (g/t) (g/t) % % (Moz) (Moz) (Mlb) (Mlb) Measured 3.1 160 128 0.60 0.41 16 13 41 28 Indicated 26.2 148 98 0.94 0.62 124 83 540 358 Total (M+I) 29.3 149 101 0.90

  53. Slide 53: SSR Mining Board of Directors

    SSR Mining Board of Directors Depth of experience and a top governance rating Michael Anglin Brian Booth Gustavo Herrero Beverlee Park Richard Paterson Steven Reid Paul Benson Chairman, Safety & Corporate Audit Audit Committee Compensation Director Corporate Sustainability Governance & Committee, Ch

  54. Slide 54: SSR Mining Executive Team

    SSR Mining Executive Team Paul Benson Nadine J. Block W. John DeCooman, Jr. Gregory J. Martin Alan N. Pangbourne President and CEO VP, Human Resources VP, Business Development SVP and CFO COO and Strategy BSc Geology and BA Psychology, BSc Mineral MBA, CPA, CGA, BApSc Metallurgy, Exploration MBA Eco

  55. Slide 55: SSR Mining Inc. www.ssrmining.com

    SSR Mining Inc. www.ssrmining.com Toll-free: +1 888.338.0046 Telephone: +1 604.689.3846 Email: invest@ssrmining.com

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