Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Q3 2022 Earnings Presentation
30 slides from Ssr Mining's earnings presentation, November 2022
Slide 1: Third Quarter 2022 Financial Results
A FREE CASH FLOW FOCUSED GOLD PRODUCER Third Quarter 2022 Financial Results November 2022
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Note Regarding Forward-Looking Statements Except for statements of historical fact relating to the Company, certain statements contained in this presentation constitute forward-looking information, future oriented financial information, or financial outlooks (collectively
Slide 3: Diversified Portfolio of High Quality, Long-Life Assets
Diversified Portfolio of High Quality, Long-Life Assets Stable Operating Platform Targeting 700+ koz AuEq Annually High Stable production platform targeting 700+ koz AuEq Operations Quality ▪ Four core operating jurisdictions Projects Diversified ▪ 10+ Moz AuEq Mineral Reserves Seabee Portfolio ▪ 17
Slide 4: Our Sustainability Vision: Living Our Values
Our Sustainability Vision: Living Our Values Our Values Shape Our Culture and Support our Strategy and Vision People & Culture Sustainability Health, Safety & Risk We value our people and invest in We care for the environment and We protect and care for the people, their growth and development. comm
Slide 5: Diversified Portfolio with +17 Year Weighted Average Mine Life
Diversified Portfolio with +17 Year Weighted Average Mine Life Long-term Stable Production Platform With Additional Avenues for Growth Historical Results ** Technical Report Summaries* 1,100 Commercial Production at Çöpler Sulfide Plant 700 koz until the end 1,000 MOE with of the decade achievable A
Slide 6: Building on Proven History of Project Delivery and M&A
Building on Proven History of Project Delivery and M&A Non-Core Asset Sale Proceeds Redeployed in Core Jurisdictions Delivering Projects Building Value Through Disciplined M&A * On Time & Budget POX Plant (Çöpler) SSR Mining / Alacer Merger Non-Core Asset Sales -10% Exploration 1.2x 2.4x $744M Analy
Slide 7: Track Record of Returning Capital to Shareholders
Track Record of Returning Capital to Shareholders Peer Leading Returns Aligned With Free Cash Flow Outlook Highlights History of Significant Shareholder Returns 2022 Capital Returns * ▪ Capital returns program aligned with strong free cash flow outlook $100M $350M 2021 Capital Returns ** 2.0% Yield
Slide 8: Q3 2022 Commentary: Highlights and Operations
Q3 2022 Commentary Third Quarter Activities Set Stage for a Strong Fourth Quarter Returning to steady-state operations ▪ Q3 consolidated production of 107 koz AuEq at production costs of $1,099/oz and AISC * of $1,901/oz AuEq Highlights ▪ YTD consolidated production of 441 koz AuEq at production cos
Slide 9: Advancing High-Return Internal Growth Opportunities
Advancing High-Return Internal Growth Opportunities Steady News Flow Expected Into 2023 and Beyond 2022 Full-Year Guidance Near-term Priorities Production Guidance ▪ Update Sustainability Report highlighting progress on ESG priorities Çöpler Au koz 180 – 190 ▪ Issue inaugural 3-year guidance illustr
Slide 10: Third Quarter Financial Results
Third Quarter Financial Results Robust Free Cash Flow Expected in Fourth Quarter Financial Highlights Diluted Q3 2022 EPS Bridge * Units Q3 2022 Q3 2021 Gold Equivalent Production oz 106,919 186,941 Gold Sales oz 72,035 156,343 Silver Sales Moz 2.2 1.5 Total Gold Equivalent Sales oz 96,885 176,299 R
Slide 11: Significant Financial Strength
Significant Financial Strength Robust Balance Sheet Metrics Financial Position Net Debt to 2023E EBITDA * Capital Allocation Priorities Low Capital Intensity Growth Market Capitalization ~$2.9B (2.8x) Centerra ▪ 2022 growth capital of $61 million ▪ $69 million initial capex at Çakmaktepe Total Debt
Slide 12: Asset Overviews
MINING ASSET OVERVIEWS
Slide 13: Çöpler: Flagship Asset with a 22+ Year Mine Life
Çöpler: Flagship Asset with a 22+ Year Mine Life Resumed Production in Q3/22; Operations Return to Steady State Location: Türkiye Stage: Production Çöpler District Mining: Open Pit Ownership: 80% Processing: Heap leach, POX Land: ~26,000 ha Q3 2022 Highlights ▪ Gold production of 3.7 koz at producti
Slide 14: Marigold: Large-Scale Open Pit in Nevada
Marigold: Large-Scale Open Pit in Nevada Record Ounces Stacked in October; Poised for Strong Q4 and Into 2023 Location: USA Stage: Production Marigold Exploration Targets Mining: Open Pit Ownership: 100% Processing: ROM, Heap Leach Land: ~20,000 ha Q3 2022 Highlights ▪ Gold production of 52.2 koz at
Slide 15: Seabee: High-Grade Underground in Canada
Seabee: High-Grade Underground in Canada Underground Development Accelerated to Access High Grade Ounces N Location: Canada Stage: Production Seabee Site Plan View Mining: Underground Ownership: 100% Processing: Gravity concentration, Land: ~62,000 ha Porky Porky West Main cyanide leaching Q3 2022 H
Slide 16: Puna: Large Open-Pit Silver Producer
Puna: Large Open-Pit Silver Producer Continued Strong Operations; Near-mine Exploration Advancing in 2022 Location: Argentina Stage: Production Puna Exploration Targets Mining: Open Pit Ownership: 100% Processing: Flotation Land: ~10,000 ha Q3 2022 Highlights ▪ Silver production of 2.7 Moz Ag at pro
Slide 17: Robust Exploration and Growth Pipeline
Robust Exploration and Growth Pipeline Near Mine Targets to Sustain and Grow From +700koz AuEq for at Least 10+ Years Çöpler District Marigold Seabee Puna Çakmaktepe Mackay Santoy 8 & 9 Chinchillas Extension (Ardich) Cöpler In-Pit/Saddle Valmy GHW / SHW Cortaderas Çöpler Copper (C2) New Millennium S
Slide 18: Appendix
MINING Appendix
Slide 19: SK1300 TRS Highlighted Baseline Production Platform
SK1300 TRS Highlighted Baseline Production Platform SEC Updates Included 14% Increase in Mineral Reserves Mineral Reserves & Resources ▪ Total Gold Mineral Reserves increased 14% or 1.1 Moz over 2020, net of depletion, to 9.2 Moz ▪ Driven by maiden Mineral Reserve at Çakmaktepe Extension and Seabee’
Slide 20: Control of the Entire Çöpler District
Control of the Entire Çöpler District Recent Acquisition of 30% of Kartaltepe Delivers Significant Synergies Çöpler District Highlights Crossfire N ▪ Expands ownership of existing Çakmaktepe Extension Mineral Reserves and (Ardich) Resources at the Çakmaktepe, Valmy Aslantepe Çakmaktepe Extension, an
Slide 21: Çakmaktepe Extension: First Production Expected in 2023
Çakmaktepe Extension: First Production Expected in 2023 Potential for Further Mineral Resource Conversion and Growth Highlights From Recent Exploration Mineral Reserve & Resource ▪ 151 diamond drill holes since May 2021 Mineral Resource cut-off ▪ CDMP21 Reserve Case includes of 1.2Moz gold productio
Slide 22: Copper Hill: Greenfield Discovery
Copper Hill: Greenfield Discovery Near-surface Copper Sulfide Mineralization Overview Copper Hill Property Location ▪ Located in the Black Sea region of northeast Türkiye; 70% owned by SSR Mining ▪ Drilling started in 2018, with 35 holes (~11,000 m) drilled to-date * ▪ Highlight intercepts include:
Slide 23: Marigold: Targeting Additional Oxide Mineralization
Marigold: Targeting Additional Oxide Mineralization New Millennium Presents Opportunity for Mineral Resource Growth Recent Drilling * At New Millennium Target Recent Exploration Highlights ▪ Marigold currently hosts a mine life of +10 years, with current exploration focused on additional oxide ore t
Slide 24: First Mover Advantage in Saskatchewan
First Mover Advantage in Saskatchewan Pipeline of Regional Targets Across Underexplored Province Saskatchewan Platform Crossfire ▪ Seabee is the only producing gold mine in Saskatchewan Valmy ▪ Acquisition of Taiga Gold Corp.* significantly expanded SSR Mining’s regional platform in the province: Va
Slide 25: Seabee Exploration Program Yielding Positive Results
Seabee Exploration Program Yielding Positive Results Gap Hanging Wall Reserves Included in 2021 R&R Statement Overview Highlight Intercepts * At Seabee’s Joker Target ▪ 2021 drilling focused on brownfields development targets across Seabee and Fisher properties ▪ Gap Hanging Wall (GHW) hosts potenti
Slide 26: Endnotes
Endnotes 1. Mineral Reserves and Mineral Resources for Çöpler, Marigold, Seabee, Puna, San Luis, Pitarrilla, and Amisk as of December 31, 2021. Mineral Reserves and Mineral Resources are shown on a 100% basis. Mineral Resources are stated exclusive of Mineral Reserves. For details see our news relea
Slide 27: Non-GAAP Reconciliations: 2022 Guidance Table
Non-GAAP Reconciliations 2022 Guidance Table Çöpler Marigold Seabee Puna Other Consolidated Operating Guidance (100% basis) (15,16) Prior Updated Prior Updated Prior Updated Prior Updated Prior Updated Prior Updated Gold Production koz 220 — 250 180 — 190 215 — 245 195 — 205 150 — 160 150 — 160 — —
Slide 28: Adjusted Attributable Net Income per Share
Non-GAAP Reconciliations Adjusted Attributable Net Income per Share, Free Cash Flow Three Months Ended September 30 (in thousands, except per share) 2022 2021 Net income attributable to equity holders of SSR Mining (GAAP) ($25,793) $57,060 Interest saving on convertible notes, net of tax — $1,226 Ne
Slide 29: Cash Costs and AISC
Non-GAAP Reconciliations Cash Costs, AISC, Net Cash Three Months Ended September 30 2022 2021 (in thousands, unless otherwise noted) Çöpler Marigold Seabee Puna Corporate Total Total Production costs (GAAP) $306 $53,684 $17,894 $34,568 $0 $106,452 $154,521 By-product credits $5 ($33) ($21) ($8,448)
Slide 30: SSR Mining Inc.
SSR Mining Inc. www.ssrmining.com F. Edward Farid, Executive Vice President, Chief Corporate Development Officer Alex Hunchak, Director, Corporate Development and Investor Relations Email: invest@ssrmining.com Toll-free: +1 (888) 338-0046 SSRM:NASDAQ / TSX, SSR:ASX