Fresnillo Plc · LSE:FRES
Fresnillo — 2024 RBC Capital Markets Precious Metals Conference
19 slides from Fresnillo's conference presentation, Nov 12, 2024
Slide 1: 2024 RBC Capital Markets Precious Metals Conference
2024 RBC CAPITAL MARKETS PRECIOUS METALS CONFERENCE 12 NOVEMBER 2024 LSE: FRES BMV: FRES www.fresnilloplc.com
Slide 2: Disclaimer
DISCLAIMER 2 This document includes statements that are, or may be deemed to be, “forward-looking A number of factors could cause results and developments to differ materially from those statements”. These forward-looking statements can be identified by the use of forward- expressed or implied by th
Slide 3: Fresnillo at a Glance
F R E S N I L L O AT A GLANCE
Slide 4: Fresnillo at a Glance
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 4 F R E S N I L L O AT A G L A N C E Operating Mines Reserves Reserves 2 Asset Type Main metal EBITDA 4 4 Year (Silver) (Gold) 1 Fresnillo Underground Silver primary US$93.1m 98.8 moz 272 koz 1554 2 Saucito Under
Slide 5: Investment Proposition
INVESTMENT PROPOSITION
Slide 6: Delivering Long-Term Value – Operational and Financial Highlights
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 6 DELIVERING LONG-TERM VALUE – OPERATIONAL AND FINANCIAL HIGHLIGHTS WORLD’S #1 SILVER SUBSTANTIAL GOLD HIGH QUALITY PRODUCER PRODUCTION MINING ASSETS 56.3 Moz of silver in 2023 28.2 Moz of silver in 1H24 610.6 ko
Slide 7: Demand for Silver and Gold Has Continued to Increase
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 7 D E M A N D F O R S I LV E R A N D G O L D H A S C O N T I N U E D T O I N C R E A S E GLOBAL DEMAND FOR GOLD (MOZ) DEMAND FOR GOLD HAS REMAINED STABLE IN SPITE OF VOLATILITY • Increased demand for consumer ele
Slide 8: High Quality Assets
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 8 HIGH QUALITY ASSETS 160 200 PRODUCTION (EQ AG OZ) PER THOUSAND SHARES PRODUCTION EQ AG MOZ) PRODUCTION (EQ AG OZ) PER THOUSAND SHARES 120 150 80 100 40 50 - - 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2
Slide 9: Disciplined Approach to Development
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 9 DISCIPLINED APPROACH TO DEVELOPMENT Commercial production at Commercial production at Saucito II San Julián phase II Juanicipio project construction Soledad-Dipolos began Noche Buena began commissioning commiss
Slide 10: Operational Performance Highlights
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 10 O P E R AT I O N A L P E R F O R M A N C E H I G H L I G H T S ATTRIBUTABLE JAN-SEP SILVER ATTRIBUTABLE JAN-SEP GOLD PRODUCTION PRODUCTION 42.6MOZ 427.6KOZ • Short term challenges in Q2 in Herradura have been
Slide 11: Disciplined Approach to Development
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 11 DISCIPLINED APPROACH TO DEVELOPMENT 2024 Forecast: US$170m 51% Mine Operations Development Projects 24% PEA Feasibility (Rodeo, Tajitos, (Orisyvo) Guanajuato) Advanced exploration (Pilarica/Perú, San Juan, Can
Slide 12: Solid Project Pipeline for the Future
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E PROJECTS 12 SOLID PROJECT PIPELINE FOR THE FUTURE ORISYVO (GOLD) RODEO (GOLD) GUANAJUATO (SILVER / GOLD) TAJITOS (GOLD) Promising results in 1H24 from studies Good metallurgical recoveries have Continued explorat
Slide 13: Sustainability Is Core to Our Purpose
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E – H S E C R 13 S U S TA I N A B I L I T Y I S C O R E T O O U R P U R P O S E : “ T O C O N T R I B U T E T O T H E W E L L B E I N G O F P E O P L E T H R O U G H T H E S U S TA I N A B L E M I N I N G O F S I L
Slide 14: Strong Balance Sheet, Underlined by Demonstrated Solid Financials
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E - S T R O N G 14 B A L A N C E S H E E T, U N D E R L I N E D B Y D E M O N S T R AT E D S O L I D F I N A N C I A L S REVENUES EBITDA and EBITDA MARGIN US$mm US$mm 2,500 1,200 60% 48% 45% 2,000 900 40% 1,500 31%
Slide 15: 2024 Outlook
2024 OUTLOOK
Slide 16: Expected Attributable Production Profile
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 16 E X P E C T E D AT T R I B U TA B L E P R O D U C T I O N P R O F I L E Production guidance range +/- 5% * Including Silverstream production.
Slide 17: Capex Spend Expectations
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 17 C A P E X S P E N D E X P E C T AT I O N S • Total sustaining capex for 20244 for all of the mines, along with a small part for new projects approved, is expected to be US$410m • Projects not approved are not
Slide 18: Consolidated Outlook
1 2 2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 18 C O N S O L I D AT E D O U T L O O K 1 Greenfield project development to be complemented with brownfield growth possibilities at the Herradura and Guanajuato Centro Districts. (1) Total annual average prod
Slide 19: Concluding Remarks
2 0 2 4 R B C C A P I TA L M A R K E T S P R E C I O U S M E TA L S C O N F E R E N C E 19 CONCLUDING REMARKS CONTINUE ENHANCING DELIVERING COST INCREASED DIVIDEND INVESTING IN CONTINUED THE SAFETY CULTURE REDUCTION AND TO SHAREHOLDERS IN BROWNFIELD PROGRESS AT OUR ACROSS THE OPERATIONAL LINE WITH O
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