Hudbay Minerals Inc · TSX:HBM
Hudbay Minerals — Q2 2024 Earnings Presentation
15 slides from Hudbay Minerals's earnings presentation, Aug 13, 2024
Slide 1: Q2 2024 Results Presentation
Q 2 2 0 2 4 R E S U LT S P R E S E N TAT I O N August 13, 2024
Slide 2: Cautionary Information
CAUTIONARY INFORMATION This presentation contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this presentation, other than statements of current and historical fact, is forward-looking information. Ofte
Slide 3: Continued Execution in Q2 2024
CONTINUED EXECUTION IN Q2 2024 DELIVERED ON OPERATING PLAN, ACCELERATED DELEVERAGING, REAFFIRMED 2024 PRODUCTION GUIDANCE AND IMPROVED 2024 CASH COST GUIDANCE KEY RESULTS SUMMARY $145M $31M 29kt $1.14/lb Production1, 2 Q2 2024 Q1 2024 Q2 2023 Q2 Adj. EBITDA1 Q2 Free Cash Flow2 Q2 Cu Production Q2 Ca
Slide 4: Accelerated Deleveraging
ACCLERATED DELEVERAGING TRANSFORMED BALANCE SHEET TO POSITION AS ONE OF THE LOWEST LEVERAGE VS. PEERS $150M OF DEBT AND GOLD PREPAY REDUCTION IN Q2 4.0x Jun. 30, 2023 $90M $34M $24M 3.0x 2.0x Balance Repaid Under Buy Back of Senior Reduction in Gold 3.4 3.5 Revolving Credit Unsecured Notes Prepay Fa
Slide 5: Peru Operations Review
PERU OPERATIONS REVIEW NEXT PHASE OF STRIPPING AT PAMPACANCHA ADVANCING AS PLANNED; 2024 GUIDANCE REAFFIRMED SUMMARY OF PERU OPERATING STATISTICS Q2 production of 19,217 tonnes Cu and Q2 2024 Q1 2024 Q2 2023 10,672 ounces Au Constancia ore mined (million tonnes)1 5.3 2.6 3.6 Pampacancha ore mined (m
Slide 6: Manitoba Operations Review
MANITOBA OPERATIONS REVIEW STEADY OPERATIONS DELIVERING STRONG RESULTS FROM MILL EFFICIENCIES AND COST CONTROL SUMMARY OF SNOW LAKE OPERATING STATISTICS Q2 production of 43,488 ounces Au Q2 2024 Q1 2024 Q2 2023 Maintain steady production despite Ore mined (kt) 385.5 407.7 413.3 Combined Ore milled (
Slide 7: British Columbia Operations Review
BRITISH COLUMBIA OPERATIONS REVIEW PROGRESSING STABILIZATION PLANS TO IMPROVE OPERATIONAL EFFICIENCIES AND INCREASE PRODUCTION SUMMARY OF COPPER MOUNTAIN OPERATING STATISTICS Realizing early benefits of stabilization plans Q2 2024 Q1 2024 Above-target Cu recoveries of 82.3% Ore mined (million tonnes
Slide 8: Copper Mountain Stabilization on Track
COPPER MOUNTAIN STABILIZATION ON TRACK ON TRACK TO ACHIEVE OPERATING EFFICIENCIES TO DRIVE SUSTAINABLE LONG-TERM VALUE MINE PRODUCTIVITY* MILL AVAILABILITY Quarterly Mine Productivity *(Mt) 24 2024 Target 25Mt 95% Mill Availability (%) 20 2024 Target 92% 90% 16 94.0% 19.9 21.4 85% 90.4% 12 15.8 13.2
Slide 9: Copper World Project
COPPER WORLD PROJECT HIGHEST GRADE OPEN PIT COPPER PROJECT IN THE AMERICAS PHASE I FOOTPRINT REQUIRES STATE AND LOCAL PERMITS ONLY Phase I PFS shows enhanced project economics, optimized 1.2Bt M&I TONNAGE flow sheet and simplified permitting process and extended mine life to 20 years. 85kt ANNUAL CU
Slide 10: Potential Sanctioning Decision
PRUDENTLY ADVANCING COPPER WORLD DISCIPLINED THREE PREREQUISITES (“3-P”) PLAN FOR SANCTIONING COPPER WORLD Completed Underway To Come In late 2022, Hudbay unveiled a 2022 2023 2024 2025 Objective prudent financial plan with three ✓ ✓ PERMITS PLAN key prerequisites to be achieved Definitive feasibili
Slide 11: Snow Lake 2024 Regional Geophysics
SNOW LAKE 2024 REGIONAL GEOPHYSICS 2024 Regional Geophysical Survey Completed on Cook Lake North Area Completed of 25 km2 of Geophysical Surveying Program focused on recently acquired land including Cook Lake and former Rockcliff claims Surface electromagnetic surveys uses cutting-edge technique
Slide 12: Lalor Northwest Drilling
LALOR NORTHWEST DRILLING FOLLOW UP DRILLING CONFIRMS NEW DISCOVERY NORTHWEST OF THE LALOR DEPOSIT Lalor Section View with New Discovery Located ~400m from Underground Infrastructure Intersected Significant Lalor Northwest Copper-Gold Mineralized Mineralization Intercepts 2024 follow up drilling co
Slide 13: Manitoba Growth Opportunities
MANITOBA GROWTH OPPORTUNITIES ADVANCING ACCESS TO THE 1901 DEPOSIT FLIN FLON TAILINGS REPROCESSING Opportunity to reprocess Flin Flon tailings where more than 100Mt of tailings have been deposited over 90 years. Zinc Plant Potential for additional metal Tailings production while reducing long- Prior
Slide 14: Diversified Mid-Tier Copper Producer
DIVERSIFIED MID-TIER COPPER PRODUCER ANNUAL COPPER PRODUCTION & CASH COSTS1,2 REVENUE AND RESERVES BY METAL + Copper World (92kt) Revenue3 Reserves4 $0.90-$1.10 $0.86 4% 5% 2% 4% Consolidated Copper Cash $0.80 168 Production (000 tonnes) $0.74 6% 137-176 132-172 134-168 153 2% Consolidated Copper 15
Slide 15: Questions
QUESTIONS 15