Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Bank of America 2022 Global Metals, Mining & Steel Conference
39 slides from Ssr Mining's conference presentation, May 2022
Slide 1: Bank of America 2022 Global Metals, Mining & Steel Conference
A FREE CASH FLOW FOCUSED GOLD PRODUCER Bank of America 2022 Global Metals, Mining & Steel Conference May 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 of 700 – 780 koz AuEq Annually (1) High Stable production platform of 700 – 780 koz AuEq (1) Operations Quality ▪ Four core operating jurisdictions Projects Diversified ▪ 10+ Moz AuEq Mineral Reserves (2) Seabee Portfo
Slide 4: ESG Strategic Priorities: Developing a Sustainable Legacy
ESG Strategic Priorities: Developing a Sustainable Legacy Focused Initiatives as Part of SSR Mining’s Sustainability Vision (9) Successful culture focused on discipline, integrity, and local partnerships Sustainability policies aligned with leading industry practices ▪ Continue implementation of an
Slide 5: Long-standing Track Record of Delivering Targets
Long-standing Track Record of Delivering Targets Three-year Guidance Showcases Stable Production Platform Continuing To Deliver Against Production Stability (6) Production Guidance (6,7) MOE with Alacer COVID-19 Suspensions Commercial Production at Çöpler Sulfide 900 Plant Three-year Guidance Range
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 Sales in Excess of US$240M Over the Past 12 Months Delivering Projects On Time & Building Value Through Disciplined M&A (11,15) Budget (10) POX Plant (Çöpler) SSRM / Alacer Merger Non-Core Asset Sales -10% Exploration 1.4x 2.4x $7
Slide 7: Peer-leading Financial Results and Significant Value Creation
Peer-leading Financial Results and Significant Value Creation 2021 Free Cash Flow Yield (11, 14) 2021 Capital Return Yield (14, 15) (i) 5.1% Total Yield +8.6% 11.9% +3.3% 3.9% 3.2% 1.8% 1.2% SSR Mining Midcap Peer Group SSR Mining Midcap Peer Group LTM Share Price Performance (12, 14) +25% +4% -7% -
Slide 8: Significant Financial Strength
Significant Financial Strength Robust Balance Sheet and Credit Metrics Net Debt to 2022E EBITDA (4) Capital Allocation Priorities Financial Position Centerra (1.5x) 1. Reinvesting in Growth Market Capitalization (12) ~$5.0B i. 2022 growth capital of $76M (1) SSR Mining (1.0x) ii. $69M initial capex
Slide 9: 2022: A Catalyst-rich Year
2022: A Catalyst-rich Year Building on Operating Milestones and Corporate Strategy from 2021 2022 Priorities 2022 Production Guidance (1) ▪ Update Sustainability Report highlighting progress on ESG priorities ▪ Issue inaugural 3-year guidance illustrating platform stability Çöpler Au koz 255 – 285 C
Slide 10: Production Profile – SK1300 Technical Report Summaries
Production Profile – SK1300 Technical Report Summaries (3,13) Clear Pathway to 700koz Annual Production through 2030 700 koz until the end of the decade achievable with modest conversion / exploration assumptions 731 737 710 716 698 112 112 20 97 95 637 623 47 8.9Moz AuEq LOM aggregate production (2
Slide 11: Robust Exploration and Growth Pipeline
Robust Exploration and Growth Pipeline Near Mine Targets To Sustain And Grow From +700koz (3) 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 Millenni
Slide 12: Asset Overviews
MINING ASSET OVERVIEWS
Slide 13: SK1300 TRS Highlighted Baseline Production Platform
SK1300 TRS Highlighted Baseline Production Platform (3) SEC Updates Included 14% Increase in Mineral Reserves (2) Mineral Reserves & Resources (2) ▪ 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
Slide 14: Çöpler District Master Plan (CDMP21): Overview
Çöpler District Master Plan (“CDMP21”): Overview (3) The Continued Evolution of a Cornerstone Asset Scope of Work Çöpler District The CDMP21 included two production scenarios that expand on the Çöpler District Master Plan from Nov. 2020 (“CDMP20”): 1. Reserve Case ▪ Incorporates maiden reserves from
Slide 15: CDMP21: Reserve Case Overview
CDMP21: Reserve Case Overview (3) Robust Production Platform Builds on CDMP20 CDMP21 Reserve Case Life of Mine Production Summary 391 Average of 2022 – 2031 10-Year Profile: 258 koz 329 37% increase in LOM production 327 318 310 314 301 versus remaining years of 302 2020 CDMP Reserve Case 268 264 23
Slide 16: CDMP21: Initial Assessment Case Overview
CDMP21: Initial Assessment Case Overview (13) Robust Production Platform Builds on CDMP20 CDMP Initial Assessment Case Life of Mine Production Summary (3,13) Average of 2022 – 2031 10-Year Profile: 300 koz 401 391 375 358 351 26% increase in LOM production 327 329 320 323 versus remaining years of 2
Slide 17: Marigold Updated Technical Report Summary: Overview
Marigold Updated Technical Report Summary: Overview (3) Long-life Open Pit With Significant Exploration Upside Scope of Work Marigold Exploration Targets The Marigold Technical Report Summary reports the Mineral Reserves base case production profile Assumptions ▪ Economic analysis uses consensus gol
Slide 18: Marigold Updated Technical Report Summary
Marigold Updated Technical Report Summary (3) Exploration Targeting Oxide Reserve Growth and Higher Grades Marigold SK1300 Life of Mine Production Summary (3) Average of 2022 – 2031 10-Year Profile: 222koz 303 72% increase in LOM 279 260 production over remaining period in 2018 technical 234 235 230
Slide 19: Seabee Updated Technical Report Summary: Overview
Seabee Updated Technical Report Summary: Overview (3) Underground Gold Mine With History of Mineral Reserve Conversion Scope of Work Track Record of Reserve and Resource Replacement (2) The Seabee Technical Report Summary reports the Mineral Reserves base case production profile, and incorporates im
Slide 20: Seabee TRS: Reserve Overview
Seabee TRS: Reserve Overview (3) Considerable Exploration Potential to Extend and Expand TRS Mine Plan Seabee SK1300 Life of Mine Production Summary (3) Average of 2022 – 2026 Five-Year Profile: 96koz 127 119 122 151% increase in 112 LOM production over remaining 96 93 production from 2017 PEA 82 69
Slide 21: Puna Updated Technical Report Summary
Puna Updated Technical Report Summary (3) Refreshed LOM Plan Reflecting Recent Outperformance Scope of Work Puna Exploration Targets The Puna Technical Report Summary reports the Mineral Reserves base case production profile Assumptions ▪ Economic analysis uses consensus silver prices averaging $22.
Slide 22: Puna TRS: Reserve Overview
Puna TRS: Reserve Overview (3) Steady Production Platform at Baseline 4,500tpd Throughput Puna SK1300 Life of Mine Production Summary (3) Average of 2022 – 2026 Five-Year Profile: 7.0 Moz 8.4 8.0 8.1 7.7 7.6 7.4 5.6 3.7 3.7 2018A 2019A 2020A 2021A 2022E 2023E 2024E 2025E 2026E Actual Results 2021Tec
Slide 23: Appendix
MINING Appendix
Slide 24: Executive Team and Board of Directors
Executive Team and Board of Directors Depth of Experience and Track Record of Delivery Executive Team Rodney Antal Alison White Stewart Beckman F. Edward Farid Michael Sparks President, Chief EVP, Chief EVP, Chief EVP, Chief Corporate EVP, Chief Legal & Executive Officer Financial Officer Operating
Slide 25: First Quarter 2022 Highlights
First Quarter 2022 Highlights Strong Operating Results Include Quarterly Production Record at Seabee (5) Robust quarterly operating performance Operational ▪ Q1 consolidated production of 174 koz AuEq at AISC * of $1,093/ oz AuEq ▪ Record quarterly production of over 52 koz at Seabee on grades and o
Slide 26: Strong Quarterly Financial Results
Strong Quarterly Financial Results Free Cash Flow Remains Weighted to Second Half Financial Highlights (5,6) Diluted Q1 2022 EPS Bridge (5) Units Q1 2022 Q1 2021 Gold Equivalent Production oz 173,675 196,094 Gold Sales oz 157,179 173,370 Silver Sales Moz 1.8 1.9 Total Gold Equivalent Sales (6) oz 17
Slide 27: Çöpler: Flagship Asset With a 22+ Year Mine Life
Çöpler: Flagship Asset With a 22+ Year Mine Life Location: Turkey Stage: Production Ownership: 80% Çöpler Mine Mining: Open pit Processing: Heap leach, POX Land: ~27,000 ha Q1 2022 Highlights ▪ Gold production of 71 koz at $955/oz AISC (5) ▪ Record throughput of 645 kt processed through sulfide plan
Slide 28: Marigold: Large-scale Open Pit in Nevada
Marigold: Large-scale Open Pit in Nevada Location: Nevada, USA Stage: Production Ownership: 100% Marigold Rope Shovel Mining: Open pit Processing: ROM, heap leach Land: ~20,000 ha Q1 2022 Highlights ▪ Gold production of 34 koz at $1,564/oz AISC (5); Stacked 46 koz of recoverable gold to the heap lea
Slide 29: Seabee: High-grade Underground in Canada
Seabee: High-grade Underground in Canada Location: Saskatchewan, Canada Stage: Production Ownership: 100% Seabee Mill Mining: Underground Processing: Gravity concentration, Land: ~62,000 ha cyanide leaching Q1 2022 Highlights ▪ Quarterly gold production of 53 koz at $596/oz AISC (5) ▪ Mill feed grad
Slide 30: Puna: Large Silver Producer
Puna: Large Silver Producer Location: Argentina Stage: Production Ownership: 100% Chinchillas Mine Mining: Open pit Processing: Flotation Land: ~10,000 ha Q1 2021 Highlights ▪ Silver production of 1.3 Moz Ag at AISC (5) of $14.67/ oz ▪ Production impacted by unfavorable weather conditions limiting a
Slide 31: Çakmaktepe Extension: Progressing to 1st Production in 2023
Çakmaktepe Extension: Progressing to 1st Production in 2023 Strong Potential for Further Conversion and Resource Growth Overview Çakmaktepe Extension Geological Cross Section * ▪ Çakmaktepe Extension located ~6 km from Çöpler ▪ 2021 Initial Mineral Reserve included in CDMP21 (2,3) ▪ 1.68Moz Au in to
Slide 32: Copper Hill: Greenfield Discovery
Copper Hill: Greenfield Discovery Near-surface Copper Sulfide Mineralization Overview 2021 Exploration Drilling & Sampling ▪ Located in the Black Sea region of northeast Turkey; 70% owned by SSR Mining ▪ Drilling started in 2018, with 35 holes (~11,000 m) drilled to-date * ▪ Highlight intercepts inc
Slide 33: Marigold: Targeting Additional Oxide Mineralization
Marigold: Targeting Additional Oxide Mineralization New Millennium Target Presents Opportunity for 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 th
Slide 34: 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 expands SSR Mining’s regional platform in the province: Va
Slide 35: 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 36: Endnotes
Endnotes 1. Please see our news release dated January 31, 2022 titled “SSR Mining achieves top end of 2021 Production Guidance, Beats AISC Guidance, Outlines Three-Year Outlook and Intends to Increase 2022 Dividend by 40%”. Gold equivalent production and AISC are based on a gold to silver ratio of 7
Slide 37: Adjusted Attributable Net Income per Share
Non-GAAP Reconciliations Adjusted Attributable Net Income per Share, Free Cash Flow Three months ended March 31, (in thousands, except per share) 2022 2021 Net income attributable to equity holders of SSR Mining (GAAP) $67,563 $108,861 Interest saving on convertible notes, net of tax $1,215 $1,575 N
Slide 38: Cash Costs and AISC
Non-GAAP Reconciliations Cash Costs, AISC, Net Cash Three Months Ended March 31, 2022 March 31, 2021 (in thousands, unless otherwise noted) Çöpler Marigold Seabee Puna Corporate Total Total Production costs (GAAP) $62,584 $38,735 $16,410 $35,791 — $153,520 $161,863 By-product credits ($1,464) ($41)
Slide 39: 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 SSRM:NASDAQ / TSX, SSR:ASX
SSR Mining — Bank of America 2022 Global Metals, Mining & Steel Conference on 6ix