Perpetua Resources Corp. · TSX:PPTA
Perpetua Resources — Investor Presentation (July 2021)
30 slides from Perpetua Resources's investor presentation, July 2021
Slide 1: Perpetua Resources Investor Presentation – July 2021
Investor Presentation – July 2021 T S X : P P TA N A S DAQ :P P TA Perpetua Resources Critical Resources. Responsible Mining. Legacy Restoration.
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Information and statement contained in this presentation that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the U
Slide 3: Why Perpetua Resources?
WHY PERPETUA RESOURCES? Redeveloping one of largest, highest grade and lowest cost gold projects in the U.S.* Superior project economics with ~15 year reserve life and <3 year payback period * Re-establishing U.S. critical mineral production Located in stable mining jurisdiction with Idaho c
Slide 4: The Stibnite Gold Project
THE STIBNITE GOLD PROJECT We can take an area abandoned after 100 years of mining activity and use a sustainable approach to restore the environment and develop a modern mining project with critical mineral production 4
Slide 5: One of the Largest Gold Reserves in the U.S.
ONE OF THE LARGEST GOLD RESERVES IN THE U.S. 1,2 Independent Gold Project Mineral Reserves1,2 Stibnite 3 4.8 Marigold 3.6 Castle Mountain 3.6 Haile 2.9 Round Mountain 2.2 Bald Mountain 1.1 0.0 1.0 2.0 3.0 4.0 5.0 2020 Year-End Proven & Probable Mineral Reserves - Gold (Moz) Source: S&P Global – Mark
Slide 6: High-Grade, Open Pit Gold Deposit
HIGH-GRADE, OPEN PIT GOLD DEPOSIT Independent Open Pit Gold Deposits1 Stibnite (Yrs 1-4)* 2.2 Haile 1.7 Stibnite (LoM)* 1.4 Gold Bar 1.1 Goldfield 1.0 Wharf 0.9 Mount Hamilton 0.8 Round Mountain 0.8 Relief Canyon 0.8 0.00 0.50 1.00 1.50 2.00 2.50 2020 Year-End Proven & Probable Mineral Reserves - Go
Slide 7: Poised to Be One of Largest U.S. Gold Mines
POISED TO BE ONE OF LARGEST U.S. GOLD MINES Independent Producing Gold Mines1 Stibnite (Yrs 1-4)* 463 Round Mountain 324 Stibnite (LOM)* 297 Marigold 234 Bald Mountain 191 Haile 137 Wharf 93 0 50 100 150 200 250 300 350 400 450 500 2020 Annual Gold Production (koz) Source: S&P Global – Market Intell
Slide 8: Lowest Quartile All-in-Sustaining Costs
LOWEST QUARTILE ALL-IN-SUSTAINING COSTS 1 $2,500 Global Gold Mine Cost Curve1 All-in-Sustaining Cost ($/oz) $2,000 $1,500 Stibnite Gold Project1 $1,000 Yr1-4 LOM $500 $0 Average Annual Gold Sales (represented as bar width) Source: S&P Global – Market Intelligence 1. Based on the 2020 Feasibility Stu
Slide 9: Significant Leverage to Higher Gold Prices
SIGNIFICANT LEVERAGE TO HIGHER GOLD PRICES TRADING AT DEEP DISCOUNT TO PROJECT NET PRESENT VALUE1 $2,350 $4,603 $2,943 $3,815 Gold Price (US$/oz) $2,100 $2,404 $1,850 $3,026 $1,864 $1,600 $2,232 NPV at 0% $1,320 NPV at 5% $1,350 $1,434 $771 Perpetua Mkt Cap2 $417 Current Mkt Cap2 Only 22% of NPV2 (5
Slide 10: U.S. Critical Minerals Supply Chain Risk
U.S. CRITICAL MINERALS SUPPLY CHAIN RISK USES FOR ANTIMONY “Critical Minerals” are metals and non-metals essential to economic and national security and are vulnerable to supply chain disruptions World Antimony 2020 Production (USGS) Turkey Australia Bolivia Burma 1% 1% 2% 4% Tajikistan 19% Russia C
Slide 11: Securing America's Critical Supply Chains
SECURING AMERICA’S CRITICAL SUPPLY CHAINS President Biden’s Executive Order and report concludes a secure critical minerals supply chain is essential to our national and economic security Semiconductor manufacturing ANTIMONY IS A KEY MINERAL High-capacity batteries IN THREE OF THE FOUR FOCUS AREAS C
Slide 12: Expected to Average >35% of U.S. Demand
EXPECTED TO AVERAGE >35% OF U.S. DEMAND 1 Stibnite Gold Project Recovered Antimony2 50,000,000 45,000,000 2020 U.S. Annual Consumption1 40,000,000 35,000,000 Antimony (lbs) 59% 30,000,000 51% 25,000,000 38% 39% 20,000,000 15,000,000 24% 17% 10,000,000 5,000,000 0 Year 1 Year 2 Year 3 Year 4 Year 5 Y
Slide 13: A Green Economy Starts at the Source
A GREEN ECONOMY STARTS AT THE SOURCE ANTIMONY (Sb): A “critical mineral” that is vital to U.S. national security supporting a green economy $5.25 Antimony Price $11,000 $4.75 $10,000 Price ($/lb.) Price ($/mt) $4.25 $9,000 $3.75 $8,000 $3.25 $7,000 $2.75 $6,000 $2.25 $5,000 Source: Bloomberg “A low-
Slide 14: Restoring an Abandoned Brownfields Site
RESTORING AN ABANDONED BROWNFIELDS SITE ENVIRONMENTAL SOLUTIONS FUNDED THROUGH MINE DEVELOPMENT SEDIMENTATION METAL LEACHING BLOCKED FISH MIGRATION Early repair of the largest Pick up, reprocess, reuse and Re-establish fish migration and provide source of sedimentation safely store 10.5M tons of tem
Slide 15: Extensive Stakeholder Engagement
EXTENSIVE STAKEHOLDER ENGAGEMENT 15
Slide 16: Gaining Momentum with Near-Term Catalysts
GAINING MOMENTUM WITH NEAR-TERM CATALYSTS Recent Accomplishments: Upcoming Milestones: Draft Environmental Impact Statement (Aug 2020) Inclusion in multiple indices due to Nasdaq listing (2021/22) Successful comment period (Aug-Oct 2020) Supplemental Environmental Impact Statement (Q1 2022)*
Slide 17: Valuation Set to Re-Rate Once Permitted
VALUATION SET TO RE-RATE ONCE PERMITTED 200% Pre-Permitting Permitted Market Cap As % of Spot NAV3,4 150% 136% 119% 100% 78% 65% 58% 50% 41% 22% 24% 0% 1,2 Perpetua Integra Gold Standard Skeena Ascot Marathon NovaGold Orla 1. Perpetua Resources Market Cap based on Fully Diluted Market Cap as of June
Slide 18: A Unique American Opportunity
A UNIQUE AMERICAN OPPORTUNITY Redeveloping one of largest, highest grade and lowest cost gold projects in the U.S.* Superior project economics with ~15 year reserve life and <3 year payback period* Re-establishing U.S. critical mineral production Located in stable mining jurisdiction with Id
Slide 19: Appendix
Perpetua Resources Appendix
Slide 20: Diverse, Experienced Leadership Team
DIVERSE, EXPERIENCED LEADERSHIP TEAM EXECUTIVE TEAM Laurel Sayer Alan Haslam Mckinsey Lyon John Meyer Jessica Largent Michael Bogert Tanya Nelson Board Director & CEO VP, Permitting VP, External Affairs VP, Development VP, Investor General Counsel VP, Human Resource Relations & Finance & Corporate S
Slide 21: Idaho: A Premier Mining Jurisdiction
IDAHO: A PREMIER IDAHO MINING JURISDICTION Lucky Friday Mine Coeur d’Alene Hecla Mining Company New Jersey Mining Golden Chest Galena Complex Sunshine Mine Americas Silver Sunshine Silver Mines Stibnite Gold • Top 10 Mining Jurisdiction in the World* Project (Au-Sb) Perpetua Resources Beartrack Mine
Slide 22: Feasibility Study - Highlights
FEASIBILITY STUDY - HIGHLIGHTS Early Production Life-of-Mine Notes: Component Years 1-4 Years 1-15 1. In this presentation, “M” = million, “k” = thousand, all amounts in US$, Total Recovered Gold 1,853 koz 4,238 koz gold and silver reported in troy ounces (“oz”) Total Recovered Antimony 74 Mlbs 115
Slide 23: Feasibility Study - Capital Cost Summary
FEASIBILITY STUDY - CAPITAL COST SUMMARY Initial Sustaining Closure Total Notes: Area Detail CAPEX CAPEX CAPEX CAPEX 1. Initial mining CAPEX includes (M $) (M $) (M $) (2) (M $) environmental remediation costs. 2. Closure and mitigation assume self- Mine Costs (1) 84 119 - 203 performed costs, which
Slide 24: Feasibility Study - Operating Cost Summary
FEASIBILITY STUDY - OPERATING COST SUMMARY Years 1-4 Life of Mine Total Production Cost Item ($/t milled) ($/oz Au) ($/t milled) ($/oz Au) Notes: 1. Defined as non-sustaining reclamation Mining 9.71 156 8.22 205 and closure costs in the post- operations period. Processing 13.13 211 12.76 318 2. Init
Slide 25: Annual After-Tax Cash Flow (@ $1,850 Gold Price)
ANNUAL AFTER-TAX CASH FLOW (@ $1,850 GOLD PRICE) 1 1. Based on the 2020 Feasibility Study (FS) which is intended to be read as a whole and sections should not be read or relied upon out of context. The information in this presentation is subject to the assumptions, exclusions and qualifications cont
Slide 26: Mineral Resources & Reserves
MINERAL RESOURCES & RESERVES 1 Measured & Indicated Mineral Resources: 6.0 Mozs Proven & Probable Mineral Reserves: 4.8 Mozs gold gold at 1.42 g/t with 206 Mlbs antimony at 0.07% at 1.43 g/t with 148 M lbs antimony at 0.06% contained in 132 Mt contained in 104 Mt 3500 3000 Gold M&I Mineral Resource
Slide 27: Exploration Upside
EXPLORATION UPSIDE* EXPANSIVE LAND PACKAGE EXISTING DEPOSITS: • North East of Yellow Pine Deposit • Below Hangar Flats pit & Old Defense Minerals Exploration Act (DMEA) working area • West End along strike and at dept P R I O R I T Y E X P LO R AT I O N TA R G E T S : • High grade targets (Garnet, S
Slide 28: Improving a Legacy
IMPROVING A LEGACY C LO S U R E P L A N : P O S T M I N I N G L A N D U S ES I N C LU D E W I L D L I F E , F I S H E R I ES & D I S P E RS E D R EC R EAT I O N • Create a self-sustaining natural environment • Support healthy fish and wildlife population • Significant concurrent reclamation & restor
Slide 29: Strong & Supportive Shareholder Base
STRONG & SUPPORTIVE SHAREHOLDER BASE SHAREHOLDERS* SHARE STRUCTURE ** BlackRock Franklin 1.8% 1.6% Issued & Outstanding 51.99 Million Sun Valley Options 2.72 Million Gold 9.9% Warrants 0.20 Million Barrick 10.4% Paulson Fully Diluted 54.91 Million 40.3% Public Float 35.7% *Based on most rece
Slide 30: Regulatory Information
REGULATORY INFORMATION The FS was compiled by M3 Engineering & Technology Corporation (“M3”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) under the direction of independent qualified persons (as defined in NI 43-101) (“Independent QPs”).
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