Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (October 2024)
32 slides from Equinox Gold's investor presentation, Oct 22, 2024
Slide 1: Creating the Premier Americas Gold Producer
Creating the Premier Americas Gold Producer Corporate Presentation October 2024 Greenstone Gold Mine – August 2024
Slide 2: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking statements developments to differ materially from those expressed or implied by such forward-looking statements and information within the meaning of applicable securities
Slide 3: Equinox Gold: A Diversified Americas-focused Gold Producer
Equinox Gold: A Diversified Americas-focused Gold Producer 8 3 GREENSTONE PRODUCING MINES3 EXPANSION PROJECTS CASTLE MOUNTAIN / EXPANSION ~19 ~17 MESQUITE Moz Moz P&P GOLD RESERVES M&I GOLD RESOURCES1 LOS FILOS / EXPANSION AURIZONA / EXPANSION Path to achieve SANTA LUZ 1+ Moz FAZENDA ANNUAL GOLD PRO
Slide 4: 2024 Guidance: ~630,000 oz of Gold
2024 Guidance: ~630,000 oz of Gold1 LOS FILOS AURIZONA BAHIA COMPLEX GREENSTONE Guerrero, Mexico Maranhão, Brazil Bahia, Brazil Ontario, Canada ~165,000 oz ~75,000 oz ~142,500 oz ~120,000 oz of gold1 of gold1 of gold1 of gold1 MESQUITE, RDM AND 2024 GUIDANCE CASTLE MOUNTAIN PRODUCTION CASH COSTS AIS
Slide 5: Greenstone: A New Cornerstone Asset for Equinox Gold
Greenstone: A New Cornerstone Asset for Equinox Gold ~390,000 oz gold EXPECTED PER YEAR1,2 15+ year 1.23 g/t gold INITIAL MINE LIFE AVERAGE GRADE ~5.7 Moz ~2.2 Moz P&P RESERVES2 M&I RESOURCES2 1. Average annual production for the first five years. 2. See Technical Disclosure. 5
Slide 6: Greenstone is One of Canada's Largest Gold Mines
Greenstone is One of Canada’s Largest Gold Mines… … And One of Canada’s Highest Grade Open-pit Gold Mines 750,000 3.50 2024F / Long-Term Gold Production (oz) Primary Open-pit Gold Mine 3.00 Open-Pit Reserve Grade (g/t gold) 600,000 Primary Underground Gold Mine 2.50 450,000 2.00 1.50 300,000 1.00 15
Slide 7: Greenstone Will Be One of the World's Lowest-Cost Gold Mines
Greenstone Will Be One of the World’s Lowest-Cost Gold Mines Global Gold Mines Total Cash Cost Curve ($/oz)1 $2,500 $2,000 Greenstone will be in Cash Costs ($/oz of Gold Sold) the lower third of global cash costs2 $1,500 $1,000 $500 $0 Labor Energy Reagents Other Onsite TCRC+Shipment Royalty 1. Sour
Slide 8: Greenstone Recent Milestones
Greenstone Recent Milestones First gold pour May 22, 2024 Ride to Greenstone Fundraiser Cheque Presentation Greenstone Mine Grand Opening 8
Slide 9: Greenstone Ramp-Up Progress
Greenstone Ramp-Up Progress 30 Day Rolling Average 30 Day Rolling Average Tonnes per Day Milled Tonnes per Day Milled Ramp-up Progress April Aprilthrough August to August 31 Ramp-up First ore introduced into HPGR and 25,000 progress grinding circuit on April 6 First gold pour on May 22 20,000 Throug
Slide 10: Opportunities to Extend Greenstone Mine Life, Increase Production
Opportunities to Extend Greenstone Mine Life, Increase Production Greenstone underground • 9.79 Mt at 3.93 g/t gold (1.2 Moz Indicated) and 24.59 Mt at 3.87 g/t gold (3.1 Moz Inferred)1 • Not included in current mine life economics Western-most hole Greenstone open pit (MM170) 18.48 g/t Au over 20.5
Slide 11: Greenstone Near-mine & Belt-scale Exploration Potential
Greenstone Near-mine & Belt-scale Exploration Potential Belt-scale potential Near-mine potential 1 10km 1 Hosts the unexploited Kailey Deposit) • 700 koz within trucking distance1 • 680 koz high-grade Brookbank deposit1 2km • Exploration potential 1. See Measured & Indicated Mineral Resources, Infer
Slide 12: Production Growth From Mine Expansions
Production Growth From Mine Expansions GREENSTONE With a full year MINE ~400,000 oz/year1 + 400 koz1 of production Ontario, Canada 14-year mine life AURIZONA MINE ~140,000 oz/year2 + 20 koz Mining of underground and Maranhão, Brazil 11-year mine life open-pit deposits concurrently CASTLE Increase mi
Slide 13: Financial Position at June 30, 2024
Financial Position at June 30, 20241 AVAILABLE LIQUIDITY RESILIENCE DEBT Unrestricted cash Ongoing cash flow from Drawn debt3 ~$167 M2 eight producing mines4 $1,095 M Undrawn credit facility3 Undrawn accordion5 Convertible notes6 $105 M $100 M $451 M ($6.04/share avg.) ~$168 M + ~$105 M CASH & EQUIV
Slide 14: Inflection Point: Increasing Production, Lower Costs, North America Focus
Inflection Point: Increasing Production, Lower Costs, North America Focus Increasing Production, Lower Costs1 Consensus NAV by Region; Top-Tier Mining Jurisdictions2 $1,900 1,000,000 $1,700 Brazil 22% (Actual / Consensus Estimates $/oz) (Actual / Consensus Estimates, oz) 800,000 $1,500 Annual Gold P
Slide 15: Deleveraging Plan
Deleveraging Plan Near term shift in focus to debt reduction utilizing significantly increased EBITDA and cash flow Investment Deleverage Consolidation & Production at Greenstone Mine3 Substantial Acquired Premier Gold Increase in EBITDA Commenced Greenstone Production starts Castle construction 202
Slide 16: Substantial Growth, Attractive Valuation
Substantial Growth, Attractive Valuation Price to NAV (x) Total Reserves (Moz Au) 2026E Production (Moz Au) ’23A-’26E Prod. Growth (%) Evolution 1.2x Northern Star 20.2 Northern Star 2.0 IAMGOLD 82% Alamos 1.2x EQX Equinox 19.1 Endeavour 1.3 Equinox EQX 77% Northern Star 1.0x Alamos 13.0 B2Gold 1.1
Slide 17: Revaluation As Production Grows Toward 1+ Moz
Revaluation As Production Grows Toward 1+ Moz Scale, Liquidity, Cash Flow, Diversified Revalue toward a Senior Producer1 1.2x Increased Increased Long reserve production cash flow life 0.8x 0.6x Reduced Reduced Top mining costs execution risk jurisdictions EQUINOX INTERMEDIATE SENIOR GOLD PRODUCERS
Slide 18: Aligned With Investors
Aligned With Investors Equinox Gold Shareholders1 Peer-leading Insider Ownership2 7% Endeavour Mining 18.5% 9% Ross Beaty / Insiders Equinox 6.6% High Net Worth SSR Mining 1.1% 20% Retail/Other Evolution 1.0% 64% Institutional B2Gold 0.8% Eldorado 0.5% Torex 0.4% Geographic Location1 12% OceanaGold
Slide 19: 2024 Is a Transformative Year for Equinox Gold
2024 Is a Transformative Year for Equinox Gold Near-term, low-cost production growth from a world-class mine in one of the world’s best mining jurisdictions at the beginning of its mine life Exposure to strong and rising gold prices Increasing production and cash flow with lower operating costs Gree
Slide 20: Appendix
TSX: EQX NYSE-A:EOX IX Append
Slide 21: Corporate Summary
Corporate Summary Common Shares 1 453.3 M Avg. Daily Shares Traded 5 TSX: 1.2 M + NYSE-A: 2.4 M Options @ avg. C$6.11 1,2 0.5 M Cash (at Jun 30, 2024) ~$167 M Restricted Share Units 3 7.8 M Debt (at Jun 30, 2024) 6 Drawn $1,095 M, Available $105 M Potential Shares from Convertible Notes 4 50.6 M Con
Slide 22: 2024 Production and Cost Guidance
2024 Production and Cost Guidance Production Cash Costs1,2 AISC1,2 Sustaining Non-sustaining (ounces) ($/ounce) ($/ounce) Expenditures ($M) 1,2 Expenditures ($M)2 Greenstone3 110,000 – 130,000 $690 - $790 $840 - $940 $32 $159 Mesquite 55,000 - 65,000 $1,345 - $1,445 $1,410 - $1,510 $5 $60 Castle Mou
Slide 23: Consolidating Greenstone Brings Significant Benefits
Consolidating Greenstone Brings Significant Benefits Acquiring the additional 40% interest in Greenstone gives EQX • Increased gold production – Additional 160,000 oz of gold per year for first five years (144,000 per year LOM)1 • Improved cost structure – Greenstone will contribute ~40% of EQX annu
Slide 24: Bahia: District-scale Potential Between Fazenda and Santa Luz Mines
Bahia: District-scale Potential Between Fazenda and Santa Luz Mines 24
Slide 25: Aurizona: Advancing an Underground Expansion
Aurizona: Advancing an Underground Expansion1 Extend mine life and increase production by mining underground deposit and satellite open- pit deposits concurrently with existing open pit Permits in place for three portal locations Advancing feasibility study Starting portal development in 2025 1. See
Slide 26: Aurizona: Mine Life Extension Along Strike and to North
Aurizona: Mine Life Extension Along Strike and to North2 Numerous deposits within trucking distance of existing plant and surface infrastructure Unexplored structure north of existing Piaba open pit 1. Exploration composites are calculated on uncapped assay values. The samples are from the saprolite
Slide 27: Aurizona: District-scale Potential on EQX Land Package
Aurizona: District-scale Potential on EQX Land Package Numerous regional targets on ~1,100 km2 land package with potential to establish a mining district 27
Slide 28: Proven & Probable Mineral Reserves
Proven & Probable Mineral Reserves1 Proven Probable Proven & Probable Mine/Project Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Mesquite 34 0.79 1 30,264 0.48 470 30,298 0.48 471 Castle Mountain 84,910 0.55 1,4
Slide 29: Measured & Indicated Mineral Resources
Measured & Indicated Mineral Resources1,2 Measured Indicated Measured & Indicated Mine Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Mesquite 81 0.77 2 104,910 0.41 1,382 104,991 0.41 1,384 Castle Mountain 781 0
Slide 30: Inferred Mineral Resources
Inferred Mineral Resources1 Tonnes Grade Contained Mine (kt) (g/t) Gold (koz) Mesquite 84,030 0.34 912 Castle Mountain 69,890 0.63 1,422 Los Filos 135,935 0.74 3,237 Aurizona 12,689 2.19 895 Fazenda 3,283 1.50 158 RDM 3,614 1.95 226 Santa Luz 7,254 2.09 490 Greenstone 26,371 3.26 2,763 Brookbank 751
Slide 31: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Los Filos Mine Complex is summarized, derived, or Scientific and technical information concerning the Santa Luz Project is summarized, derived, or extracted from the “Updated Technical Report for the
Slide 32: Contact
+1 604.558.0560 x 119 ir@equinoxgold.com TSX: EQX | NYSE-A: EQX www.equinoxgold.com