Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Silver Standard Resources — Investor Presentation (November 2015)

40 slides from Ssr Mining's investor presentation, Nov 19, 2015

  1. Slide 1: Right Company, Right Time

    RIGHT COMPANY, RIGHT TIME November 2015 Corporate Presentation SSRI:NDAQ | SSO: TSX 1

  2. Slide 2: Cautionary Notes

    Cautionary Notes Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively

  3. Slide 3: Why Silver Standard?

    Why Silver Standard? ASSETS CAPITAL MANAGEMENT Free cash flow $200M in cash Experienced team Two large mines $108M in marketable In-country expertise securities Focused portfolio Deliver to plan Strong balance sheet Strong operating performance & free cash flow SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX T

  4. Slide 4: On Track to Meet Improved 2015 Guidance

    On Track to Meet Improved 2015 Guidance  Delivered strong production at lower costs YTD  Marigold: 41Koz gold at $719/oz cash cost in Q3  Pirquitas: 2.6Moz silver at $11.02/oz cash cost in Q3  $67.2M of cash generated by operating activities YTD (before taxes & interest)  Cash balance increased

  5. Slide 5: Strong Production and Cost Profile

    Strong Production and Cost Profile 8.0 $16 $14.34 $14.29 6.9 6.8 5.6Moz Silver Equivalent Cash Costs ($/oz) 6.0 Silver Equivalent Production (Moz) 6.0 5.6 $12 $12.36 $10.78 5.1 $10.32 Silver Eq. Production in 3Q15 $9.57 $9.74 4.0 $8 3.5 1.9 2.0 $4 $10.32/oz 0.0 $0 Silver Eq. Cash Costs in 3Q15 Q1 Q2

  6. Slide 6: Marigold: Established Gold Mine

    MARIGOLD ESTABLISHED GOLD MINE SSRI:NDAQ | SSO: TSX 6

  7. Slide 7: Improved Operating and Political Profile

    Improved Operating and Political Profile  Open pit, run-of-mine heap leach gold operation  Continuous production since 1988  Strong safety and environmental practices Twin Creeks Goldstrike MARIGOLD Maverick Springs Phoenix  Excellent infrastructure Cortez Carlin Trend  Probable Mineral Reserve

  8. Slide 8: Invested $160M in 2012 and 2013

    Invested $160M in 2012 and 2013 Shovel Capacity Hauling Capacity Haul Truck Maintenance (Cubic Yards) (Tonnes) (Hours) 150 5,000 20 Maintain Wash 18 Trucks 100 3 Shovels 12 Trucks 2,500 2 Shovels 10 50 0 0 0 2012 2014 2012 2014 2012 2014 Operational Excellence for increased efficiency and lower cost

  9. Slide 9: Operational Excellence: Long-term Cost Savings

    Operational Excellence: Long-term Cost Savings $1.92 Total cost per tonne mined $1.74 $1.70 $1.65 $1.61 $1.62 $1.57 $1.48 $1.50 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 LOM Savings of 1₵ cost per tonne mined = $750,000 annually Notes: Annual savings of $750,000 based on assumptio

  10. Slide 10: Improved 2015 Gold Guidance

    Improved 2015 Gold Guidance Gold Production (Koz) Cash Cost per Ounce of Capital ($M) Gold Sold ($/oz) $40 195 - 205 200 $900 $838 $700 - $750 $11 $30 150 $25 130 $600 $20 100 $300 $25 $10 50 $13 $0 0 $0 2014 2015 2014 2015 2014 2015 Guidance Guidance Guidance Capital Capitalized Stripping Improved

  11. Slide 11: Marigold Going Forward

    Marigold Going Forward  Operational excellence to drive costs down  Assay Program increases 2015 gold production by 12%  Add oxide Mineral Reserves through drilling  Explore depth for sulphide mineralization Focused on increasing reserves and margin SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 11

  12. Slide 12: Assay Program – Increases Ore Zones

    Assay Program – Increases Ore Zones Pit Outline as of October 2015 Mackay Phase 3 Pit Outline Mineralized Ore as at December 2014 Additional Ore Tonnage 75 meters and Ounces W E Increases tonnage 21%; Increases ounces 12% Notes: See news release dated July 6, 2015 for additional information on the M

  13. Slide 13: Resource Discovery and Reserve Conversion

    Resource Discovery and Reserve Conversion  Three new higher-grade mineralized HideOut 8SX Valmy and Mud Pits centers discovered in last 12 months  Selected drill results: A’ 8D  8SX: 91.4 meters at 2.48 g/t Au  8D: 164.6 meters at 1.70 g/t Au 1 km A N  HideOut: 76.2 meters at 2.47 g/t Au Reserv

  14. Slide 14: Pirquitas: Large Open-Pit Silver Mine

    PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NDAQ | SSO: TSX 14

  15. Slide 15: Proven Capability and Delivery

    Proven Capability and Delivery  100% owned and operated silver and zinc mine  2010: Invested capital  2011/12: Delivered predictable production  2013: Improved cost structure, completed push back Pirquitas Mine Jujuy, Argentina  2014: Repositioned on cost curve, record annual production Diablil

  16. Slide 16: Improved 2015 Silver Guidance

    Improved 2015 Silver Guidance Silver Production (Moz) Cash Cost per Ounce Capital ($M) of Silver Sold ($/oz) 12.0 9.5 - 10.5 $12.08 $10.50 - $11.50 $20 8.7 $10 $11 8.0 $10 4.0 $5 $10 $10 $0 0.0 $0 2014 2015 2014 2015 2014 2015 Guidance Guidance Guidance Capital Capitalized Stripping Increased produc

  17. Slide 17: Exploration Emphasis: Pirquitas Underground

    Exploration Emphasis: Pirquitas Underground  Pirquitas Underground  2015 drill program complete. Positive drill results  3.16 meters at 1,436 g/t silver Cortaderas San Miguel Open Pit  1.93 meters at 1,890 g/t silver Chocaya & Oploca  0.83 meters at 2,670 g/t silver  Conceptual study underway

  18. Slide 18: Exploration Emphasis: Chinchillas Project

    Exploration Emphasis: Chinchillas Project  Agreement to evaluate the Chinchillas project (Oct 2015)  Silver-zinc-lead deposit located 30 km from Pirquitas  5,000 meters infill drilling planned for Q4  Initial geotechnical and environmental studies underway Potential to extend Pirquitas operating

  19. Slide 19: Properties, Projects and Production

    Properties, Projects and Production 10 1 8 7 7. Candelaria 11 3 9 1. Marigold 8. Maverick Springs 5. Diablillos 3. Pitarrilla 9. San Marcial 2. Pirquitas 6. Berenguela 4 4. San Luis 6 10. Sunrise Lake 2 5 11. Parral + $570M SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 19

  20. Slide 20: San Luis: Dual Option to Value

    San Luis: Dual Option to Value Ancash Region, Peru  High grade mineralization N with Mineral Resources of:  8.9M oz Ag at 595.5 g/t Ecash Community  0.35M oz Au at 25.2 g/t  Already secured  EIA Ayelén Vein  Feasibility study  Going forward San Simon Vein  Pursuing community agreements Bonit

  21. Slide 21: Pitarrilla: Large Option

    Pitarrilla: Large Option Parral Mining District  Open pit project Chihuahua  Conventional flotation and leaching Pitarrilla Project Durango  695 Moz silver Mineral Resources Mexico (Measured and Indicated)  Evaluating optimization of mine plan  Continued exploration of land position  Water mor

  22. Slide 22: Why Silver Standard in 2015

    Why Silver Standard in 2015  Management team  Corporate level that delivers free cash flow  Focus on operational  Strong balance excellence sheet  Cost discipline  Strategy for growth SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 22

  23. Slide 23: Authentic

    (2) Authentic SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 23

  24. Slide 24: Mineral Reserves

    Mineral Reserves (as at December 31, 2014) Mineral Reserves Location Tonnes Silver Gold Zinc Silver Gold millions g/t g/t % million oz million oz Proven Mineral Reserves San Luis Peru 0.06 604.5 28.3 1.1 0.05 Total 1.1 0.05 Probable Mineral Reserves Pirquitas Argentina 5.37 220.10 0.47 38.0 Pirquita

  25. Slide 25: Mineral Resources: Measured and Indicated

    Mineral Resources: Measured and Indicated (as at December 31, 2014) Mineral Resources Location Tonnes Silver Gold Lead Zinc Copper Silver Gold millions g/t g/t % % % million oz million oz Measured Mineral Resources (Inclusive of Proven Mineral Reserves) Pitarrilla Mexico 20.30 95.40 62.3 San Luis Pe

  26. Slide 26: Mineral Resources: Inferred

    Mineral Resources: Inferred (as at December 31, 2014) Mineral Resources Location Tonnes Silver Gold Lead Zinc Copper Silver Gold millions g/t g/t % % % million oz million oz Inferred Mineral Resources Pirquitas UG Argentina 2.85 174.0 3.61 15.9 Marigold U.S. 18.20 0.44 0.26 Pitarrilla Mexico 22.10 6

  27. Slide 27: Reserves & Resources: Notes to Tables

    Reserves & Resources: Notes to Tables All estimates set forth in the Mineral Reserves and Mineral Resources tables have been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The estimates of Mineral Reserves and Mineral Resources fo

  28. Slide 28: HideOut: New High Grade Mineralized Area

    HideOut: New High Grade Mineralized Area Notes: See news release dated September 18, 2015 for additional details on the HideOut area at the Marigold mine. See also “Cautionary Notes” in this presentation. SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 28

  29. Slide 29: View NW of 8 South and HideOut Centers

    View NW of 8 South and HideOut Centers Drillhole 8S pit Backfill 8SX A Old Leach A’ Pads HideOut Rock Ultimate Stockpiles Pit Shell Structural Trend Notes: See news releases dated July 6, 2015 and September 18, 2015 for drillhole highlights and reference data for the Marigold exploration drill progr

  30. Slide 30: Illustrative Cross Section through HideOut Center

    Illustrative Cross Section through HideOut Center W E 485590 486090 Conceptual Pit Shell 1600 Rock Stockpile 61m at 0.1 g/t 1500 91m inter-burden 76m at 2.5 g/t 1400 Pre-Mining Gold (g/t) Surface <0.06 0.06 - 0.6 0.6 – 1.2 Illustrative Gold 485840 > 1.2 1300 Grade Model 100 meters Notes: See news re

  31. Slide 31: Valmy Property Location

    Valmy Property Location Notes: See news release dated August 11, 2015 announcing the acquisition of the Valmy Property. See also “Cautionary Notes” in this presentation. SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 31

  32. Slide 32: Pirquitas: Actively Managing Costs Down for Long Term

    Pirquitas: Actively Managing Costs Down for Long Term $19.70 Cash costs per payable $16.88 ounce of silver sold $12.87 $12.08 $10.50 - $11.50 $11.25 $11.02 $9.45 2011 2012 2013 2014 Q1 2015 Q2 2015 Q3 2015 Guidance 2015 Note: Cash costs are a non-GAAP financial measure. Please see "Cautionary Note R

  33. Slide 33: Chinchillas Project Location

    Chinchillas Project Location Notes: See news release dated October 1, 2015 announcing the agreement to evaluate the Chinchillas project. See also “Cautionary Notes” in this presentation. SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 33

  34. Slide 34: San Luis Project

    San Luis Project San Luis Feasibility Study Results (June 2010)  3.5-year life: Underground mine  Avg. annual 1.9M oz Ag production: 78,000 oz Au  Cash cost: $313 / oz Au  Resources (M+I): 9.0M oz Ag at 578.1 g/t 0.35M oz Au at 22.4 g/t  Capital: $90 -$100M  Mill throughput: 400 tpd  NPV: $39

  35. Slide 35: Increased Financial Strength

    Increased Financial Strength $383M $265M Cash, Marketable Securities and Credit Facility Convertible Notes Source: $383 million includes $200 million of Cash and Cash Equivalents, $108 million of marketable securities and $75 million of undrawn senior secured credit facility. Cash and marketable sec

  36. Slide 36: Ownership Summary

    Ownership Summary Top 10 Shareholdes % of Shares Outstanding Holdings by Investor Class Van Eck 6.9% Kopernik Global Investors 3.8% Investec Asset Management 2.4% Institutional Wells Capital Management 2.2% Global X Management 2.1% 45% Retail and Other Sun Valley Gold 2.1% 55% Frank Russell Thrust 1

  37. Slide 37: Strong Technical and Commercial Experience

    Strong Technical and Commercial Experience Board of Directors Management Team Peter Tomsett Paul Benson Chairman President, CEO and Director Michael Anglin Gregory Martin SVP and CFO Gustavo Herrero Alan Pangbourne Beverlee Park SVP, Operations Richard Paterson Jonathan Gilligan VP, Technical and Pr

  38. Slide 38: Notes

    Notes SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 38

  39. Slide 39: Notes

    Notes SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 39

  40. Slide 40: Corporate Presentation

    CORPORATE PRESENTATION SSRI:NDAQ | SSO: TSX 40

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