Slide 1: Q3 2021 Earnings Release
Q3 2021 Earnings Release November 22, 2021 MINEROS: CB TSX: MSA
Slide 2: Cautionary Statement
Cautionary Statement Certain statements made and information contained herein constitute “forward-looking information”. Such statements and information relate to future events, including the company’s future performance, business prospects or opportunities. Forward-looking statements involve known a
Slide 3: Management
Management Andrés Restrepo Isaza CEO Alan Wancier CFO Ana Isabel Gaviria General Secretary Eduardo Flores Zelaya VP of Business Development and Strategy Country Manager Chile Santiago Cardona Country Manager Colombia Carlos Mario Gómez Country Manager Nicaragua John Jairo Cuervo Muñoz Country Manage
Slide 4: Agenda
AGENDA o Highlights o Operative Indicators o Financial Performance o Detail per Operation o Going Forward
Slide 5: Highlights
Highlights
Slide 6: Dual Listing
Dual Listing After filling the Final Prospectus regading the IPO in Canada, Mineros began trading on the Toronto Stock Exchange on November 19th The IPO in Canada was for $20 million and the offer in Colombia was for $11.5 (including over allotment) 6
Slide 7: Approval of environmental permits
Approval of environmental permits o On October 19, 2021, ANLA granted environmental permits sufficient to support planned operations at Nechi Alluvial Property (Colombia) within a 141- hectare area covered by the environmental management plan amendments o Approved permits are for the área named “Sta
Slide 8: Acquisition of remaining 15% of Vesmisa
Acquisition of remaining 15% of Vesmisa On July 27, we acquired the remaining 15% interest in Vesubio Mining S.A. (Vesmisa), for 1.5 million, consolidating for Hemco 100% of property in all processing infrastructure at the Hemco Property in Nicaragua. Vesmisa is a processing plant, fully dedicated t
Slide 9: Gold Price Behavior
Gold Price Behavior Daily Behavior Gold Spot Price (US$/oz) 1,840 1,820 1,800 $1,829 1,780 1,760 1,740 1,720 1,700 $1,726 1,680 1,660 Jul-2021 Ago -2021 Sept-2021 9
Slide 10: Operative Indicators
Operative Indicators
Slide 11: Production, Price and cost
Production, Price and cost Produced Ounces (koz) AISC (USD/oz) 70 koz Cash Cost (USD/oz) Average Selling Price (USD/oz) Lower production in Argentina 68 koz 67 koz 3,1 00 65 koz Higher costs due to the purchase of 65 koz artisanal and formalized material and 66 koz 64 koz 64 koz higher sustaining ca
Slide 12: Financial Performance
Financial Performance
Slide 13: Adj. EBITDA and EBITDA Margin
Adj. EBITDA and EBITDA Margin Lower EBITDA Adjusted EBITDA MUSD generation, due to EBITDA Margin higher costs in Argentina, cost of 52 artisanal and 10 0% 90 % formalization ore 45 80 % 42 40 - 38% 70 % 60 % 32 50 % EBITDA Q3 2021 vs. Q3 2020 40 % 43% 36% 30 % 33% 33% - 37% 27% 20 % 10 % 10 0% EBITD
Slide 14: Debt
Debt Net Debt (MUSD) Debt (MUSD) / EBITDA (LTM MUSD) New debt used in the acquisition of the Luna Roja Project 0.3 0.2 0.0 0x 0.2 0.1 0.1 47 -1.00 x + 6% -2.00 x NET DEBT 33 35 Q3 2021 vs. Q3 2020 -3.00 x 19 11 -4.00 x 20% Net Debt/EBITDA Q3 2021 vs. Q3 2020 - -5.00 x Q3 2020 Q4 2020 Q1 2021 Q2 2021
Slide 15: Financial Results Q3 2021
Financial Results Q3 2021 Margins Q3 2021 Q3 2020 Q3 2020 (MUSD) Gross 21.1% 35.2% EBITDA 27.0% 42.8% o Lower income explained mainly Q3 2021 (MUSD) Net 6.8% 20.4% by a 6% decrease in price of 121.3 120.2 gold, partially offset by more ounces sold in 4% and higher income from energy sales and 94.8 h
Slide 16: Financial Results 2021
Financial Results 2021 Margins 2020 2019 2020 (MUSD) Gross 26.3% 35.7% 2021 (MUSD) EBITDA 31.9% 40.5% Net 8.6% 13.6% 363.8 374.0 275.7 234.0 147.5 129.8 119.3 98.4 49.5 32.3 Revenues Costs Gross Profit Adj. EBITDA Net Profit +3% +18% -24% -19% -35% 16
Slide 17: Detail per Operation
Detail per Operation
Slide 18: Colombia
Colombia 25 koz 3,0 00 Q3 2021 vs. Q3 2020 2,5 00 17 koz 15 koz 2,0 00 Production + 10,3% 15 koz 1,5 00 AISC + 18,8% Gross Profit - 14,8% 1,0 00 1,226 1,032 Gross Margin - 21,2% 50 0 5 koz - Q3 2020 Q3 2021 o Increase in production explained by material from Produced Ounces (koz) AISC (USD/oz) forma
Slide 19: Nicaragua
Nicaragua 40 koz 3,0 00 32 koz 33 koz 2,5 00 Q3 2021 vs. Q3 2020 30 koz 2,0 00 Production + 1,2% 1,5 00 AISC + 16,0% 1,384 20 koz 1,0 00 Gross Profit - 33,6% 1,193 50 0 Gross Margin - 32,2% 10 koz - Q3 2020 Q3 2021 Produced Ounces (koz) AISC (USD/oz) o Production for the quarter was similar to that
Slide 20: Argentina
Argentina 3,0 00 Q3 2021 vs. Q3 2020 2,5 00 25 koz 17 koz 2,0 00 Production - 14,,7% AISC + 28,9% 15 koz 14 koz 1,5 00 Gross Profit - 89,5% 1,453 1,0 00 1,873 Gross Margin - 88,8% 50 0 5 koz - Q3 2020 Q3 2021 Produced Ounces (koz) AISC (USD/oz) o The lower production is explained by the natural depl
Slide 21: Going Forward
Going Forward
Slide 22: Going Forward
Going Forward o We are saddened to share that two fatal accidents occurred at the mines in Nicaragua and Argentina. We will continue working to reinforce security measures in all our operations o New production guidance between 257,000 – 270,00 ounces, explained by the delay in the approval of envir
Slide 23: MINEROS: CB TSX: MSA
eae: Mineros por el bienestar de todos MINEROS: CB TSX: MSA EMCO Mineros Nicaragua Fundacion pvuincieenas case + Negocios ee Minas Argentinas s.a. Gualcamayo por el bienestar de todos