Slide 1: Q3 2015 Conference Call
Q3 2015 CONFERENCE CALL November 6, 2015 SSRI:NDAQ | SSO: TSX 1
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
Slide 3: Focused on Growth
Focused on Growth Production and cash costs to plan On track to meet improved guidance Strong balance sheet and liquidity Exploration success at Marigold and Pirquitas Completed Valmy Property acquisition Signed agreement to evaluate Chinchillas SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 3
Slide 4: Marigold: Q3 2015
MARIGOLD: Q3 2015 Produced 41,262 oz gold as planned Reported cash costs of $719/oz of gold sold Increased ore tonnes at higher grade to leach pads Completed leach pad construction and maintenance capital Well positioned for a strong Q4 * Cash costs are a non-GAAP financial measure. Please s
Slide 5: Pirquitas: Q3 2015
PIRQUITAS: Q3 2015 Produced 2.6M oz silver On track for record annual production Reported cash costs of $11.02/oz of silver sold Increased milling throughput * Cash costs are a non-GAAP financial measure. Please see "Cautionary Note Regarding Non-GAAP Measures” in this presentation. SSRI:NAS
Slide 6: Marigold: Brownfields Exploration Success
Marigold: Brownfields Exploration Success Drilled +13,000 meters in Q3 Discovered the HideOut and 8D higher grade mineralized areas Assay program continues to define increased ore tonnage Valmy exploration drilling planned for 2016 N Valmy and Mud New Mineralized Pits Zones 8SX HideOut Reser
Slide 7: Pirquitas: Brownfields Exploration Success
Pirquitas: Brownfields Exploration Success Pirquitas Underground 2015 drill program completed Conceptual study underway Potential high-grade ore feed from the Chocaya, Oploca and Cortaderas veins Select drill results 3.16 meters at 1,436 g/t silver 1.93 meters at 1,890 g/t silver 0.83
Slide 8: Pirquitas: Potential to Extend Operating Life
Pirquitas: Potential to Extend Operating Life Agreement to evaluate the Chinchillas project 5,000 meters infill drilling planned Initial geotechnical and environmental studies underway SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 8
Slide 9: Selected Operating and Financial Results
Selected Operating and Financial Results Units Q3 2015 Q2 2015 Q3 2014** Silver Production Moz 2.6 2.4 2.6 Silver Sales Moz 2.8 2.6 1.9 Gold Production oz 41,262 48,685 40,442 Gold Sales oz 39,525 48,121 38,245 Revenue $M $77.2 $95.8 $79.3 (Loss) Income from Mine Operations * $M ($7.4) $16.3 $6.3 Ne
Slide 10: Financial Strength for Growth
Financial Strength for Growth Q3 2015 Q2 2015 YE 2014 Cash $200M $217M $185M Marketable Securities* $108M $98M $104M Total Assets* $955M $997M $986M Current Liabilities $135M $124M $123M Working Capital* $373M $380M $369M * Inclusive of Pretium Resources Inc. investment of $104 million and Argonaut
Slide 11: Strong Production and Cost Profile
Strong Production and Cost Profile 8.0 $16 $14.34 $14.29 6.9 6.8 5.6Moz Silver Equivalent Cash Costs ($/oz) 6.0 Silver Equivalent Production (Moz) 6.0 5.6 $12 $12.36 $10.78 5.1 $10.32 Silver Eq. Production in 3Q15 $9.57 $9.74 4.0 $8 3.5 1.9 2.0 $4 $10.32/oz 0.0 $0 Silver Eq. Cash Costs in 3Q15 Q1 Q2
Slide 12: Well Positioned for Q4 2015
Well Positioned for Q4 2015 Management team Corporate level that delivers free cash flow Focus on operational Strong balance excellence sheet Cost discipline Strategy for growth SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 12
Slide 13: Q3 2015 Conference Call
Q3 2015 CONFERENCE CALL SSRI:NDAQ | SSO: TSX 13