Florida Canyon Gold — Argonaut Gold — Q4 2023 Earnings Presentation
15 slides from Florida Canyon Gold's earnings presentation, Mar 6, 2024
Slide 1: Building a Low-Cost Mid-Tier North American Gold Producer
Building a Low-Cost Mid-Tier North American Gold Producer Q4 and Year End 2023 Results TSX: AR March 6, 2024
Slide 2: Forward-Looking Information
Forward-Looking Information Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects or future financial or operating performance, constitutes “forward-looking statements”. Forward- looking statements are frequently chara
Slide 3: Magino is Our Future
Magino is Our Future ROADMAP TO RESET 1 2 3 Ramp Up Magino Strengthen Our Growth & Balance Sheet Operational Excellence Focus on mining operation and mill Refinancing our current debt package Unlocking the significant potential at optimization to bring the mine to to support short-term liquidity ena
Slide 4: Consolidated Production is Ramping Up
Consolidated GEOs Production for Fiscal 2023 100,000 $2,500 Consolidated Production is Ramping Up 80,000 $2,000 Production (Gold Equivalent Ounces(1)) • Magino making progress: fourth quarter 2023 Cost per Ounce Sold (US$/oz) production was 61,523 gold equivalent ounces (GEOs), 60,000 $1,500 an incr
Slide 5: Magino Mining Metrics Continue to Improve
Magino Mining Metrics Continue to Improve With mine tonnage approaching design rates, Daily Total Material Moved (ktpd) management focus has turned to mining accuracy 60 & efficiency 45 50.5 42.6 41.3 40.8 45.4 • Implementation of the Fleet Management System is well- 30 37.3 underway and already hav
Slide 6: Magino Mill Continues to Ramp Towards Nameplate Throughput
Magino Mill Continues to Ramp Towards Nameplate Throughput Mill Daily Tonnage (tpd) & Throughput Rate (tpoh) Mill tonnage continues to improve 12,000 470 Nameplate capacity: 439 457 437 • Shortfalls attributable to excessive unscheduled 10,000 tonnes per day 422 424 422 mill downtime which is fixabl
Slide 7: Financial Performance Reflects Current Transformation
Financial Performance Reflects Current Transformation Q4 2023A Q4 2022A Change Gold sold (oz) 59,632 50,606 18% Cost of sales ($/oz sold) $1,768 $2,383 (26%) Cash cost1 ($/oz sold) $1,437 $2,007 (28%) • Gold sold increased due to Magino All-in sustaining costs1 ($/oz sold) $1,804 $2,266 (20%) contri
Slide 8: Liquidity & 2024 Outlook
Liquidity & 2024 Outlook Liquidity Overview Refinance Loan Facilities Outstanding Undrawn • Several lenders have provided term sheets conditional on (as at Dec. 31, 2023) (as at Dec. 31, 2023) final due diligence and approval Cash and Cash Equivalents $84M - • Expect to close refinancing in April 20
Slide 9: Delivering per Share Growth through Responsible Capital Allocation
Delivering per Share Growth through Responsible Capital Allocation Major Objectives Magino Mill 1) Complete Magino Construction Expansion Provides scale for 2) Ramp Magino to Steady-State Reserve further value Expansion creation 3) Stabilize Florida Canyon Key to the Magino mill expansion Refinance
Slide 10: Appendix
APPENDIX
Slide 11: Notes & Disclosures
Notes & Disclosures Argonaut Gold is a Canadian gold company with a portfolio of operations and multi-stage assets in North America. The Company is in the final stages of construction at its Magino Project, located in Ontario, Canada. The Company also has three operating mines including the Florida
Slide 12: Notes & Disclosures Continued
Notes & Disclosures Continued NON-IFRS MEASURES The Company has included certain non-IFRS measures including “Cost of sales per ounce sold”, “Cost of sales per ounce sold”, “All-in sustaining costs per gold ounce sold” (or “AISC), “Cash cost per ounce sold”, “Adjusted net (loss) income”, and “Adjust
Slide 13: Notes & Disclosures For Mineral Resource and Reserve Estimates
Notes & Disclosures For Mineral Resource and Reserve Estimates (1) Mineral Reserves and Mineral Resources have been estimated as at December 31, 2022 in accordance with NI 43-101 as required by Canadian securities regulatory authorities. Mineral Resources are presented inclusive of Mineral Reserves.
Slide 14: Endnote
Endnote 1) Gold Equivalent Ounces (“GEOs”) are based on a conversion ratio of 80:1 for silver to gold in 2023 and 2022. The silver to gold conversion ratio is based on the three-year trailing average silver to gold ratio. Produced ounces are calculated as ounces loaded to carbon. TSX: AR | 14
Slide 15: Additional Information
TSX: AR ADDITIONAL INFORMATION /ArgonautGoldInc @Argonaut_Gold Joanna Longo Investor Relations @ArgonautGoldInc Phone: (416) 575-6965 Email: investor.relations@argonautgold.com company/Argonaut-Gold-Inc Argonaut Gold Inc. WWW.ARGONAUTGOLD.COM