Hudbay Minerals Inc · TSX:HBM
Hudbay Minerals — Q1 2024 Earnings Presentation
14 slides from Hudbay Minerals's earnings presentation, May 14, 2024
Slide 1: Q1 2024 Results Presentation
Q 1 2 0 2 4 R E S U LT S P R E S E N TAT I O N May 14, 2024
Slide 2: Cautionary Information
CAUTIONARY INFORMATION This presentation contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this presentation, other than statements of current and historical fact, is forward-looking information. Ofte
Slide 3: Strong Financial Performance
STRONG FINANCIAL PERFORMANCE DELIVERED ANOTHER CONSECUTIVE QUARTER OF STRONG OPERATING, FINANCIAL AND DELVERAGING RESULTS 2024 PRODUCTION AND COST GUIDANCE AFFIRMED KEY RESULTS SUMMARY Q1 2024 Q4 2023 Q1 2023 $214M 35kt $0.16/lb Production1, 2 Q1 Adj. EBITDA2 Q1 Cu production Q1 Cash Cost Copper kt
Slide 4: Peru Operations Review
PERU OPERATIONS REVIEW OPERATING ACCORDING TO PLAN WITH IMPRESSIVE COST PERFORMANCE SUMMARY OF PERU OPERATING STATISTICS Q1 production of 24,576 tonnes Cu and Q1 2024 Q4 2023 Q1 2023 29,144 ounces Au Constancia ore mined (million tonnes)1 2.6 1.0 3.4 Pampacancha ore mined (million tonnes)1 2.2 5.6 0
Slide 5: Manitoba Operations Review
MANITOBA OPERATIONS REVIEW BETTER THAN EXPECTED Q1 GOLD PRODUCTION SUMMARY OF SNOW LAKE OPERATING STATISTICS Q1 production of 56,831 ounces Au Q1 2024 Q4 2023 Q1 2023 exceeded expectations Ore mined (kt) 407.7 372.4 373.6 Combined Ore milled (kt) 389.8 393.8 385.7 Successful implementation of Gold g
Slide 6: British Columbia Operations Review
BRITISH COLUMBIA OPERATIONS REVIEW PROGRESSING OPERATIONAL STABILIZATION PLANS AND ON TRACK TO ACHIEVE 2024 GUIDANCE Realizing early benefits of stabilization plans SUMMARY OF COPPER MOUNTAIN OPERATING STATISTICS Q1 2024 Q4 2023 Above-target Cu recoveries of 83.4% in Q1 Ore mined (million tonnes)1 3
Slide 7: Copper Mountain Stabilization
COPPER MOUNTAIN STABILIZATION ON TRACK TO ACHIEVE OPERATING EFFICIENCIES TO DRIVE SUSTAINABLE LONG-TERM VALUE MINE PRODUCTIVITY MILL THROUGHPUT Quarterly Total Material Moved (Mt) Avg. Daily Mill Throughput (tpd) 20 2024 Target 25Mt 40,000 2024 Target 41.1k tpd 15 35,000 10 19.0 30,000 39,780 15.8 3
Slide 8: Stable Production Outlook
STABLE PRODUCTION OUTLOOK 3-YEAR PRODUCTION OUTLOOK1 Strong and stable operating portfolio with three long-life 2024 Guidance 2025 Guidance 2026 Guidance operations in tier 1 mining PERU jurisdictions in the Americas Copper tonnes 98,000 - 120,000 94,000 - 115,000 80,000 - 100,000 Gold ounces 76,000
Slide 9: Attractive Copper Positioning
ATTRACTIVE COPPER POSITIONING SIGNIFICANT COPPER PRODUCTION AT FIRST QUARTILE CASH COSTS MEANINGFUL COPPER PRODUCTION LEADING LOW-COST PROFILE 2024E COPPER PRODUCTION1 2024E COPPER AISC2 400 +$75M increase in cash flow and EBITDA for +$25M increase in cash flow and EBITDA for 350 every $0.25/lb chan
Slide 10: Potential Sanctioning Decision
PRUDENTLY ADVANCING COPPER WORLD DISCIPLINED THREE PREREQUISITES (“3-P”) PLAN FOR SANCTIONING COPPER WORLD Completed Underway To Come In late 2022, Hudbay unveiled a 2022 2023 2024 2025 Objective prudent financial plan with three ✓ ✓ PERMITS PLAN key prerequisites to be achieved Definitive feasibili
Slide 11: Constancia Exploration Potential
CONSTANCIA EXPLORATION POTENTIAL SEVERAL OPPORTUNITIES EXIST ON HUDBAY’S EXTENSIVE LAND PACKAGE IN PERU CONSTANCIA SATELLITE EXPLORATION TARGETS Maria Reyna Constancia & Caballito Pampacancha 3.3Mt Cu Leviatan Constancia DELINEATED TO-DATE 1.0Mt Cu MINED TO-DATE PERU Pampacancha Lima Tintaya Paquita
Slide 12: Snow Lake Regional Exploration
SNOW LAKE REGIONAL EXPLORATION LARGE EXPLORATION PROGRAM UNDERWAY WITH MODERN GEOPHYSICS AND SURFACE DRILLING Largest Hudbay Geophysics Program Surface EM surveys using modern technology to target depths up to 1,000m Regional fly program completed for Cook Lake areas 8 Drill Rigs Turning Resul
Slide 13: Diversified Mid-Tier Copper Producer
DIVERSIFIED MID-TIER COPPER PRODUCER ANNUAL COPPER PRODUCTION & CASH COSTS1,2 REVENUE AND RESERVES BY METAL + Copper $1.15 World (92kt) Revenue3 Reserves4 $0.86 4% 5% 2% 4% Consolidated Copper Cash $0.80 157 168 Production (000 tonnes) $0.74 6% 152 151 153 2% Consolidated Copper 150 kt 132 Costs (US
Slide 14: Questions
QUESTIONS 14