Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (March 2022)
28 slides from Equinox Gold's investor presentation, March 2022
Slide 1: The Premier Americas Gold Producer
equinoxgold.com The Premier Americas Gold Producer CORPORATE PRESENTATION March 2022
Slide 2: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, statements within the meaning of applicable securities legisla
Slide 3: Creating the Premier Americas Gold Producer
Creating the Premier Americas Gold Producer Canada USA 3.3 Moz Reserves2 ~240 Koz annual production2 4.6 Moz Reserves First production in H1 2024 ~155 Koz annual production >300 Koz with expansions1 Mexico3 Brazil 3.6 Moz Reserves 4.5 Moz Reserves ~345 Koz annual production ~170 Koz annual productio
Slide 4: Significant Production and Reserve Growth in Four Years
Significant Production and Reserve Growth in Four Years 1,200,000 16.4 Moz Annual Gold Production Attributable Gold Reserves Annual Gold Production (oz) 12.1 Moz 600,000 5.7 Moz 5.6 Moz 0.9 Moz 0 2018 2018 2019 2019 2020 2020 2021 2021 2022E 2022 1 Mid-2020s 2023 2 + Mesquite + Aurizona + Leagold +
Slide 5: Value Add Per Share
Value Add Per Share Reserve/Resource Growth Operating Cash Flow Growth Production Growth per 1,000 Shares per 1,000 Shares per 1,000 Shares 120 $1,200 4 Mineral Reserves & Resources (oz Au/1,000 shares) Annual Production (oz Au/1,000 shares) Operating Cash Flow ($/1,000 shares) 1 100 $800 3 80 60 $4
Slide 6: Peer-leading Growth Profile
Peer-leading Growth Profile P/NAV1 (x) 2024E Production1 (Moz Au) 2021A - 2024E Prod. Growth1 (%) Total Reserves2 (Moz Au) Equinox Gold Equinox Gold Equinox Gold Equinox Gold 1. Based on analyst consensus estimates and market data as at February 28, 2022. Source: Thomson One Analytics, FactSet, BMO.
Slide 7: Peer-leading Insider Ownership
Peer-leading Insider Ownership Insider Ownership2 Endeavour Mining 20.2% 8% 0.5% Equinox Equinox Gold 8.5% Equinox Gold Ross Beaty Shareholders1 13% Other Insiders Northern Star 1.4% High Net Worth B2Gold 1.3% 56% Evolution 1.0% Retail/Other 16% IAMGOLD Corporate 0.8% Institutional Torex 0.5% 6% Yam
Slide 8: Operating Mines: USA
Operating Mines: USA Mesquite Mine, California • Opening up new ore body, exploration in multiple deposits, constructing new leach pad to support mine life extension • 2022 guidance: 120,000-130,000 oz of gold Castle Mountain, California • Introducing crushing and agglomeration to increase recoverie
Slide 9: Operating Mines: Mexico
Operating Mines: Mexico Los Filos Mine, Guerrero • Continuous operations since August 2021 • Mining new Guadalupe open pit and Bermejal underground deposits for higher grade ounces • 2022 guidance: 160,000-180,000 oz of gold Mercedes Mine, Sonora • Agreement to sell the mine to Bear Creek Mining for
Slide 10: Operating Mines: Brazil
Operating Mines: Brazil Aurizona Mine, Maranhão • Installing pebble crusher, continuing exploration, advancing underground expansion • 2022 guidance: 120,000-130,000 oz of gold Fazenda Mine, Bahia • Exploration focused on mine life extension and Fazenda-Santa Luz mining district • 2022 guidance: 60,
Slide 11: Santa Luz Project: Commissioning Underway
Santa Luz Project: Commissioning Underway Construction on time, on budget • Past producing mine: refurbishing existing infrastructure and retrofitting processing plant • Avg. 110,500 oz/yr first five years, 95,000 oz/yr LOM • $103 M construction capex • Construction >95% complete - Commissioning und
Slide 12: Greenstone Project: Construction Underway
Greenstone Project: Construction Underway Building one of Canada’s largest gold mines1 • Developed by Equinox Gold (60%) and Orion (40%) • 5.5 Moz gold reserves, significant exploration upside • > 5 Moz gold production over initial 14-year mine life - > 400,000 oz/year for first five years - > 360,0
Slide 13: Committed to Responsible and Ethical Mining
Committed to Responsible and Ethical Mining ESG data published quarterly at www.EquinoxGold.com ENVIRONMENT SAFETY ENERGY & GHG COMMUNITIES Beat 2021 environmental targets, Beat 2021 safety targets, Achieved 2021 short-term Installed water treatment plant for no off-site environmental impacts reduce
Slide 14: Investing for Growth and Long-term Production
Investing for Growth and Long-term Production ~600 Koz incremental growth from existing assets Revaluation potential with growth • Enhanced scale and diversity with Greenstone • Increased production, higher cash flow,1.1x lower costs • Catalyst rich investment plans • Enhanced diversification across
Slide 15: Funded to Deliver Growth
Funded to Deliver Growth Cash1 Bank Debt3 Cash Flow Strong balance sheet and cash Unrestricted cash Term loan4 2022 all-in sustaining flow funds ~$305 M ~$87 M drawn margin at $1,800 Au growth >$300 M Corporate revolver Total liquidity $200 M drawn ~$505 M2 $200 M available ~$505 M ~$450 M Total liq
Slide 16: Bullish Macro Fundamentals for Higher Gold Price
Bullish Macro Fundamentals for Higher Gold Price • Macroeconomics: Debt, inflation, interest rates, USA recession risk • Demand: India, China, US Mint, Central banks, GLD ETF all buying gold • Supply: Gold supply flat since 2014, no new discoveries, mine development slow Gold will run following a ca
Slide 17: Equinox Gold: The Premier Americas Gold Producer
Equinox Gold: The Premier Americas Gold Producer 7 5 Producing Growth Mines1 Projects 30 Moz Greenstone (60%) Castle Mountain / Expansion 16 Moz Mesquite P&P Gold M&I Gold Reserves1 Resources2 Mercedes1 ~670 Koz ~$505 M Aurizona Santa Luz Los Filos / Expansion Gold Production Total Liquidity4 in 202
Slide 18: Appendix
Appendix 18
Slide 19: Equinox Gold: Corporate Summary
Equinox Gold: Corporate Summary Common Shares 1 302.2 M Avg. Daily Trading Value 5 ~ C$12 M + US$12 M Unlisted Warrants @ avg. C$8.15 1,2 1.3 M Cash 6 ~ US$305 M Options @ avg. C$7.20 1,2 3.4 M Net Debt 6 ~ US$235 M Restricted Share Units 3 1.9 M Convertible Notes @ avg. US$6.52 7 US$278.9 M Fully D
Slide 20: Track Record of Value Creation
Track Record of Value Creation1 2018 2019 2020 2021 Buy: Mesquite Build: Aurizona Launch: Solaris Resources Create: i-80 Gold Acquisition cost: Construction cost: Spin-out to shareholders: Created new company: $158 M $160 M $300 M3 (Equinox Gold interest) $150 M3 (Equinox Gold interest) Value creati
Slide 21: Delivering on Objectives: 2021 Report Card
Delivering on Objectives: 2021 Report Card Operations Development Exploration Produce 560,000-625,000 oz of gold Santa Luz construction Extend Aurizona mine life • Achieved guidance with 602,100 oz of • Construction on budget and on • Increased Reserves by 73% by Sold two non-core gold produced trac
Slide 22: 2022 Guidance: Investing for Growth and Long-term Production
2022 Guidance: Investing for Growth and Long-term Production Production Cash Costs1 AISC1,2 Sustaining Growth (ounces) ($/ounce) ($/ounce) Capital ($M)1 Capital ($M)1 Fourth consecutive year of production Los Filos 160,000-180,000 $1,400-$1,475 $1,625-$1,700 $38 $62 growth Mesquite 120,000-130,000 $
Slide 23: 2022 Guidance: Investing for Growth and Long-term Production
2022 Guidance: Investing for Growth and Long-term Production Non-sustaining capex lower in H2 following Santa Luz completion Sustaining Capex Sustaining Capex Non-Sustaining • Los Filos: Open-pit waste stripping ($13M), underground development ($7M), (M$) Capex (M$) fleet rebuilds and processing equ
Slide 24: Equinox Gold: Mineral Reserves
Equinox Gold: Mineral Reserves1 Proven Probable Proven & Probable Mine/Project Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) Aurizona 16,581 1.39 740 15,749 1.82 920 32,330 1.60 1,660 Castle Mountain 84,910 0.55
Slide 25: Equinox Gold: Measured & Indicated Mineral Resources
Equinox Gold: Measured & Indicated Mineral Resources1 Measured Indicated Measured & Indicated Mine Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) Aurizona 19,849 1.40 892 29,994 1.86 1,797 49,844 1.67 2,689 Castl
Slide 26: Equinox Gold: Inferred Mineral Resources
Equinox Gold: Inferred Mineral Resources1 Contained Gold Mine Tonnes (kt) Grade (g/t) (koz) Aurizona 13,067 2.18 915 Castle Mountain 86,271 0.58 1,608 Mesquite 85,419 0.34 928 Los Filos 98,204 0.83 2,633 RDM 3,614 1.94 226 Fazenda 3,296 1.51 160 Santa Luz 7,265 2.07 483 2 Greenstone 15,300 3.78 1,85
Slide 27: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Los Filos Mine Complex is summarized, derived, or Scientific and technical information concerning the Mercedes Mine is summarized, derived, or extracted extracted from the “Independent Technical Repor
Slide 28: Contact: ir@equinoxgold.com
+1 604.558.0560 ir@equinoxgold.com www.equinoxgold.com 28 TSX: EQX | NYSE-A: EQX