Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Silver Standard Resources — Investor Presentation (April 2013)
36 slides from Ssr Mining's investor presentation, April 2013
Slide 1: Corporate Presentation
CORPORATE PRESENTATION April 2013 SSRI:NDAQ | SSO: TSX 1
Slide 2: Cautionary Notes
Cautionary Notes Notes Regarding Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of Canadian securities laws (collectively “forward-
Slide 3: What sets Silver Standard apart
What sets Silver Standard apart ASSETS CAPITAL MANAGEMENT Production and organic Funded with cash and Capable team of growth from a cash flow for growth managers & operators diversified portfolio and opportunity delivering on plan Significant 2013 catalysts & compelling valuation SSRI:NASDAQ SSRI:ND
Slide 4: Advancing our significant portfolio to value
(a) Our Business Pipeline Maverick Berenguela Pirquitas Diablillos Springs Pitarrilla Exploration Development Production Challacollo San Marcial San Agustin San Luis Sunrise Lake Candelaria Advancing our significant portfolio to value (a) Property circle size approximately represents the combined Me
Slide 5: SSRI share price reflects Argentinian credit risk
SSRI share price reflects Argentinian credit risk Credit Risk: Argentina vs. United States (Jan. 2007 – Mar. 2013) Argentina loses court Argentina appeals U.S. Cristina Kirchner IMF censures Credit Crisis ruling on debt Court ruling on assumes office Argentina repayment requirements sovereign debt 4
Slide 6: Delivered on Plan in 2012
Delivered on Plan in 2012 PIRQUITAS ORGANIC FINANCIAL MINE GROWTH FLEXIBILITY Exceeded silver Completed Pitarrilla Strong balance production guidance feasibility study sheet with $367 million in cash (a) Generated positive Tripled reserves operating cash flow Generated positive Advance
Slide 7: Pirquitas: Large Open-Pit Silver Mine
PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 7
Slide 8: Pirquitas: Delivering on Plan
Pirquitas: Delivering on Plan 2013 Continue to deliver predictable performance 8.2 - 8.5M oz Ag production and sales > 20M lb Zn production $17.00 - $18.50 per Ag oz cash cost (a) Transition to Phase 2 of the San Miguel Open Pit Continue to focus on managing costs Add resources and res
Slide 9: Pirquitas: Moving forward
Pirquitas: Moving forward Waste Dump Cortaderas Waste Dump Pit Crushing Plant Mine Access Tailings Road Dam Jig Plant N Ball Mill, N Floatation, Drying SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 9
Slide 10: Pirquitas: 2013 Expanding the Resource
Pirquitas: 2013 Expanding the Resource (1, 2) Feb. 2012 Survey Area Aug. 2012 Survey Area Expanded Cortaderas Breccia Resource Volume 500 m San Miguel Open-Pit Gravity Anomalies (Dense Rock) 2013 Drilling Targets SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 10
Slide 11: Pitarrilla: Moving to Construction
PITARRILLA MOVING TO CONSTRUCTION SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 11
Slide 12: Pitarrilla: Low cost, long life
Pitarrilla: Low cost, long life (3) Lower cost profile Cash cost of ~$11 per oz Ag (a) Capex of $741 M Large scale project (b) ~15 M ounces Ag production (first 18 years) 32-year project life 479 M oz reserves at 95.1 g/t Ag $737 M NPV (after tax) Favorable mining jurisdiction Lo
Slide 13: Pitarrilla: Mineralization Zones
Pitarrilla: Mineralization Zones (3) Breccia Ridge South Ridge NE Cordon Colorado Javelina Creek -0m Approx. Oxide / Transitional Boundary -200 m Approx. Transitional / Sulphide Boundary -400 m Pit Shell -600 m 0 200 400 metres Viewing window width is 700 m -800 m SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TS
Slide 14: Pitarrilla: Mine Design
Pitarrilla: Mine Design (3) SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 14
Slide 15: Pitarrilla: Simplified Flow Sheet
(3) Pitarrilla: Simplified Flow Sheet 175,000 tonnes material moved per day Strip ratio: 6:1 Crush 16,000 tpd 12,000 tpd Grind Leach Lead Flotation Zinc Flotation CCD Merrill-Crowe Cyanide Rec. Refining & Destruction Tailings Lead Concentrate (a) Zinc Concentrate (a) Doré (a) 29.1 Mlbs Pb per year 7
Slide 16: Pitarrilla: Next Steps
Pitarrilla: Next Steps Acquire remaining surface rights Obtain environmental and operating permits Continue with engineering and infrastructure work Implement financing plan Advancing to construction SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 16
Slide 17: San Luis: High-Grade Gold and Silver
SAN LUIS HIGH-GRADE GOLD AND SILVER SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 17
Slide 18: San Luis at a Glance
San Luis at a Glance (4) Estimated 1.9M oz Ag Average Annual Production 78,000 oz Au Resources 8.9M oz Ag at 595.5 g/t (M + I) 0.35M oz Au at 25.2 g/t Estimated Mine Life 3.5 Years (Ayelén vein only) Estimated Capital Expenditures $90 - $100M Estimated Construction Time <2 Years SSRI:NASDAQ SSRI:NDA
Slide 19: San Luis: Advancing Toward Value
San Luis: Advancing Toward Value Feasibility study (2Q10) LA LIBERTAD Consolidated interest (3Q11) Cochabamba agreement (4Q11) ANCASH EIA approved (3Q12) San Luis Antamina Agreement to expand exploration on Pierina (Barrick) HUÁNCO Cochabamba property (1Q13) Next steps: Ecash community
Slide 20: Successful Exploration Track Record
Successful Exploration Track Record Reserves(a) 566M oz Ag Measured & Indicated(a) 1,188M oz Ag (Inclusive of reserves) Inferred(a) 344M oz Ag Snowfield + Cash Proceeds: $400M Brucejack Retained Interest: $136M(b) Bowdens Sold for A$75M = Exploration Properties (a) Refer to the Reserve and Resources
Slide 21: Building Strength: achievements 2010 – 2013
Building Strength: achievements 2010 – 2013 Bowdens Pretium IPO sold for Pirquitas cash of A$75M reserves $217M Pretium Added Secondary in-country Offering $183M expertise Pirquitas Pirquitas Pitarrilla exceeded delivering feasibility 2012 on plan study guidance Added Pitarrilla moving to San Luis m
Slide 22: Experienced Management Team
Experienced Management Team John Smith Gregory Martin Alan Pangbourne Ron Burk John DeCooman Andrew Sharp President, CEO SVP and Chief SVP, Projects VP, Exploration VP, Business VP, Technical and Director Financial Officer Development and Services Strategy Keenan Hohol David Smith Bruce Kennedy Robe
Slide 23: Capital for Growth and Opportunity
Capital for Growth and Opportunity Share Price 1 $9.86 Solid balance sheet Basic Shares Outstanding 2 80.7 Market Capitalization $796 Well-funded for growth Less: Cash 3 ($367) 3 Plus: Convertible Note $138 4 Less: Pretium Interest ($136) Creating value via portfolio Less: Other Marketable Sec
Slide 24: Key Goals for 2013
Key Goals for 2013 2013 Continue to deliver predictable performance at Pirquitas Move the Pitarrilla project towards construction Increase reserves Maintain strong balance sheet to enable growth Continue creating value from asset portfolio Delivering to plan in 2013 SSRI:NASDAQ SSRI:NDAQ |
Slide 25: Now: Building Performance
NOW BUILDING PERFORMANCE SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 25
Slide 26: Diversified Assets
Diversified Assets PRODUCTION Pirquitas Argentina DEVELOPMENT Pitarrilla Mexico San Luis Peru Diablillos Argentina San Agustin Mexico EXPLORATION Berenguela Peru Challacollo Chile Veta Colorada Mexico Candelaria United States Maverick Springs United States Sunrise Lake Canada SSRI:NASDAQ SSRI:NDAQ |
Slide 27: Mineral Reserves
Mineral Reserves (as at December 31, 2012) Mineral Reserves Metal grade Contained metal Tonnes Silver Gold Lead Zinc Silver Gold (mil.) (g/t) (g/t) (%) (%) (mil. oz) (mil. oz) Proven 8.3 180.8 - - 0.51 48.1 - Pirquitas Probable 4.8 169.1 - - 1.03 25.9 - Stockpiles (a) 1.4 137.3 - - 0.74 6.1 - Pitarr
Slide 28: Mineral Resources: Measured & Indicated
Mineral Resources: Measured & Indicated (as at December 31, 2012) Measured & Indicated Mineral Resources (inclusive of Mineral Reserves) Metal grade Contained metal Tonnes Silver Gold Lead Zinc Copper Silver Gold (mil.) (g/t) (g/t) (%) (%) (%) (mil. oz) (mil. oz) Measured 11.1 150.3 - - 0.49 - 53.6
Slide 29: Mineral Resources: Inferred
Mineral Resources: Inferred (as at December 31, 2012) Inferred Mineral Resources Metal grade Contained metal Tonnes Silver Gold Lead Zinc Copper Silver Gold (mil.) (g/t) (g/t) (%) (%) (%) (mil. oz) (mil. oz) Pirquitas 2.8 160.5 - - 5.38 - 14.2 - Pitarrilla 22.1 62.1 - 0.21 0.49 - 44.1 - San Luis 0.0
Slide 30: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables All estimates of Mineral Reserves and Mineral Resources in the Reserves and Resources have been prepared in accordance with NI 43-101 under the supervision of a Qualified Person named below for the respective properties. Mineral Resources which are not Mineral R
Slide 31: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables Diablillos Mineral Resources estimate was completed by Gilles Arseneau, Ph.D., P.Geo., a Qualified Person, in accordance with the standards of NI 43-101, in a technical report completed by Wardrop, a TetraTech company, entitled “Technical Report on the Diablillo
Slide 32: Pitarrilla: Key Operating / Financial Measures
(3) Pitarrilla: Key Operating / Financial Measures Pitarrilla Feasibility Study – December 2012 Life of Project (LOP) 32 Years Silver Reserves (Mozs) 479 Average Annual Silver Production (Mozs) 10.1 Average Annual Cash Costs (Net of By-Products) ($ / oz Payable Ag) $10.01 Capital Costs ($ MM) $741 L
Slide 33: Pitarrilla Mineral Reserves
Pitarrilla Mineral Reserves (Effective December 4, 2012) (3, a) Mineral Reserves Tonnage Metal grade Contained metal Category Process Type Tonnes Silver Lead Zinc Ag Pb Zn (Mt) (g/t) (%) (%) (Mozs) (Mlbs) (Mlbs) Probable Direct Leach 43.4 91.5 0.169 0.422 127.5 161.6 403.9 Probable Flotation / Leach
Slide 34: Pitarrilla Mineral Resources
Pitarrilla Mineral Resources (Effective December 4, 2012) (3, a) Mineral Resources (inclusive of Mineral Reserves) (b) Tonnage Metal grade Contained metal Category Tonnes Ag Pb Zn Ag Pb Zn (Mt) (g/t) (%) (%) Moz (Mlbs) (Mlbs) Measured 20.31 95.42 - - 62 - - 240.00 81.94 - - 632 - - Indicated 260.31
Slide 35: Presentation Footnotes
Presentation Footnotes 1) See the NI 43-101 Technical Report on the Pirquitas Mine, Jujuy Province, Argentina, dated December 23, 2011 filed on SEDAR and available on the company’s website. See news release dated January 8, 2013 for cost guidance. 2) Jeremy D. Vincent, B.Sc. (Hons), P.Geo., is the Q
Slide 36: Corporate Presentation
CORPORATE PRESENTATION SSRI:NDAQ | SSO: TSX 36
Silver Standard Resources — Investor Presentation (April 2013) on 6ix