Slide 1: Third Quarter 2023 Update: Consistent and determined
THIRD QUARTER 2023 UPDATE Q3 Consistent and determined
Slide 2: Cautionary disclaimers
F O R WA R D L O O K I N G S TAT E M E N T S A R E M A D E I N T H I S P R E S E N TAT I O N Cautionary disclaimers This presentation contains forward-looking statements and information within the meaning of Canadian securities law and United States securities laws, rules and legislation, including
Slide 3: Cautionary disclaimers
F O R WA R D L O O K I N G S TAT E M E N T S A R E M A D E I N T H I S P R E S E N TAT I O N Cautionary disclaimers CAUTIONARY NOTE TO U.S. READERS This document and shall not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdi
Slide 4: Performing, Advancing, Strengthening
OPERATIONS EXPLORATION & DEVELOPMENT BALANCE SHEET Performing Advancing Strengthening
Slide 5: Annual production guidance increased
Q 3 O P E R AT I N G H I G H L I G H T S Annual production guidance increased 32koz 0.85g/t 19.2ktpd Mining Q3-2023 YTD-2023 GOLD PRODUCTION AU GRADE STACKED AVG STACKING TPT Total Ore Mined tonnes 1,840,224 5,575,892 Ore – processed tonnes 1,716,820 5,092,788 Continued strong mining and processing
Slide 6: Strong operating margins
Q3 FINANCIAL HIGHLIGHTS Strong operating margins 31koz $743/oz $133m Operating Q2-2023 YTD-2023 GOLD SOLD All-IN SUSTAINING COSTS 1 CASH BALANCE Gold Production ounces 32,425 87,393 Gold Sold ounces 31,061 87,693 1 Average Realized Gold Price per ounce $1,921 $1,929 Continued low-cost operations dri
Slide 7: Net income Q3-2023
Q U A R T E R O V E R Q U A R T E R E A R N I N G S VA R I A N C E Net income Q3-2023 Revenues $1.0 $12.8 -$3.4 Cost of sales FX -$4.0 $2.4 $5.4 Exploration -$0.4 -$1.5 Other Refinancing -$1.6 credit facility Tax expense Q2 2023 Q3 2023 Net Income – Quarter over quarter variance 7 Please refer to Ap
Slide 8: Strengthening balance sheet
YEAR OVER YEAR IMPROVEMENTS Strengthening balance sheet $139m Balance sheet strength and flexibility established • Repaid $36 million of debt year-to date $100m Credit Facility refinancing completed in Q3 $78m • $150 million revolving credit facility $57m $50m Net debt1 has improved significantly Yo
Slide 9: Our people approach
Our people approach Foster a culture where employees want the Company to succeed Our commitment to our employees: • Safe and healthy work environment • Clearly defined work • Fair and competitive compensation & benefits • Access to training and development, merit- based growth opportunities • Fair t
Slide 10: Exploration: Increasing resources and making discoveries, $35 million
2 0 2 3 E X P L O R AT I O N Increasing resources and making discoveries $35 million MEXICO USA (NEVADA) PANAMA $22 million 1 $10 million $3 million 50,000 – 60,000 metres drilling 15,000 metres drilling 5,500 metres drilling Oxide Layback: Satellite Deposits: La Pelona: confirm & delineate minerali
Slide 11: 2023 sulphide infill & extension programs
C A M I N O R O J O – E X P L O R AT I O N & D E V E L O P M E N T 2023 sulphide infill & extension programs Camino Rojo Sulphides infill • Wide-widths of higher-grade gold intersections continues (program completion planned Q4) Sulphide Extensions • Drilling testing potential beneath existing resou
Slide 12: Significant resource expansion opportunities
SOUTH RAILROAD – CARLIN TREND PROSPECTIVITY Significant resource expansion opportunities Second largest contiguous land package on the Carlin Trend – 21,000 hectares Target rich environment, favourable regional structures & stratigraphic horizons Multiple zones of oxide and sulphide mineralization I
Slide 13: A depth of assets that can generate long-term value
South Railroad Nevada A depth of RESERVES assets that USA 1.6 Moz Au can generate RESOURCES (M&I)3 1.8 Moz Au Cerro Quema long-term Panama value LAND PACKAGE RESERVES Camino Rojo 21,000 ha 0.6 Moz Mexico RESOURCES (M&I)2 1.0 Moz Au RESERVES 1.4 Moz Au 676 Mlbs CuEq RESOURCES (M&I)1 LAND PACKAGE 9.2
Slide 14: Upcoming catalysts
2023 PLANS Upcoming catalysts APPROACHING ON TRACK TO ACHIEVE GUIDANCE Net cash positive 110-120 koz 2 Final payment to Fresnillo upcoming ($22.8m) $700-$800 /oz AISC 2 INVESTMENT INTO BUSINESS Advancing Mexico & Nevada exploration & development across portfolio1 14 1. Includes expensed and capitali
Slide 15: The right formula for value creation
T H E R I G H T F O R M U L A F O R VA L U E C R E AT I O N Proven strategy + Quality partners + Quality projects
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Slide 17: Non-GAAP measures
NOTES Non-GAAP measures The Company has included herein certain performance measures (“non-GAAP measures”) which are not specified, defined, or determined under generally accepted accounting principles (in our case, International Financial Reporting Standards, or “IFRS”). These are common performanc