ebook img

ssr mining investor day PDF

150 Pages·2017·12.65 MB·English
Save to my drive
Quick download
Download
Most books are stored in the elastic cloud where traffic is expensive. For this reason, we have a limit on daily download.

Preview ssr mining investor day

SSR MINING INVESTOR DAY EVOLUTION TO A ‘TIER 1’ INTERMEDIATE PRODUCER September 12, 2017 Cautionary Notes CautionaryNoteRegardingForward-LookingStatements Thispresentationcontainsforward-lookinginformationwithinthemeaningofCanadiansecuritieslawsandforward-lookingstatementswithinthemeaningoftheU.S.PrivateSecuritiesLitigationReformActof1995(collectively,“forward-lookingstatements”).All statements,otherthanstatementsofhistoricalfact,areforward-lookingstatements.Generally,forward-lookingstatementscanbeidentifiedbytheuseofwordsorphrasessuchas“expects,”“anticipates,”“plans,”“projects,”“estimates,”“assumes,”“intends,” “strategy,”“goals,”“objectives,”“potential,”“believes,”orvariationsthereof,orstatingthatcertainactions,eventsorresults“may,”“could,”“would,”“might”or“will”betaken,occurorbeachieved,orthenegativeofanyofthesetermsorsimilarexpressions.These forward‐lookingstatementsorinformationrelateto,amongotherthings:futureproductionofpreciousmetals;futurecostsofinventory,andcashcostsandall-insustainingcosts(“AISC”)perpayableounceofpreciousmetalssold;expectedoperating,exploration anddevelopmentexpenditures;thepricesofpreciousmetals;theeffectsoflaws,regulationsandgovernmentpoliciesaffectingouroperationsorpotentialfutureoperations;futuresuccessfuldevelopmentofourprojects;thesufficiencyofourcurrentworkingcapital, anticipatedoperatingcashfloworourabilitytoraisenecessaryfunds;estimatedproductionratesforpreciousmetals;timingofdevelopmentandproductionandthecashcostsandtotalcostsofproductionattheMarigoldmine,theSeabeeGoldOperation,Puna Operationsandourotherprojects;theestimatedcostofsustainingcapital;ourabilitytodiscovernewmineralization,toupgradeMineralResourcesandconvertMineralResourcestoMineralReserves,toextendforecastedminelifeandtoincreaseoperational flexibilityfortheMarigoldmine,theSeabeeGoldOperationandPunaOperations;opportunitiestoincreasetheeconomicsoftheMarigoldmine,theSeabeeGoldOperationandPunaOperations;ourexpecteddrillprogramsateachoftheMarigoldmine,theSeabee GoldOperation,PunaOperationsandourotherprojects;expectedimpactsoffluctuationsincurrencyanddieselandpropaneprices;resultsofourhedgepositions;expansionoftheSeabeeGoldOperationbasedontheresultsofthePreliminaryEconomic Assessment(“PEA”);thePEArepresentingproductiongrowth,improvedmarginsandexpansionofMineralResources;timing,amountanddurationoffutureproductionofgoldunderthePEA;theestimatedcapitalandoperatingcostsunderthePEA;theestimates ofnetcashflow,netpresentvalueandeconomicreturnsfromtheSeabeeGoldOperationunderthePEA;expectationsregardingtheabilitytoobtainthenecessaryenvironmentalapprovalsforthePEA;timingforandpotentialofMarigoldmineexpansionstudy; timingandresultsofMarigoldmineequipmentreplacementstudy;timingandoutcomeofpermittingprocessfortheMarigoldmineEISdevelopment;timingofPirquitasundergroundandChocaya/OplocastudiesandthepotentialforaPirquitasunderground operationtoprovideanadditional,highgradeorestreamtothePirquitasplant;anticipatedproductionattheChinchillasprojectandprocessingfacilities,includingconstructionbeginninginthefourthquarterof2017andoredeliverytothePirquitasmillinthesecond halfof2018,andeventsthatmayaffectthejointventure’soperations;estimatedinitialcapitalexpendituresattheChinchillasproject;expectedoresupplygeneratedfromtheChinchillasproject;expectedcompositionofminingfleetattheChinchillasproject; outcomeofpermittingprocessfortheChinchillasproject;ongoingorfuturedevelopmentplansandcapitalreplacement,improvementorremediationprograms;theestimatesofexpectedoranticipatedeconomicreturnsfromourminingprojects,includingfuture salesofmetals,concentrateorotherproducts;andourplansandexpectationsforourpropertiesandoperations. Theseforward-lookingstatementsaresubjecttoavarietyofknownandunknownrisks,uncertaintiesandotherfactorsthatcouldcauseactualeventsorresultstodifferfromthoseexpressedorimplied,including,withoutlimitation,thefollowing:uncertaintyof production,developmentplansandcostestimatesfortheMarigoldmine,theSeabeeGoldOperation,PunaOperationsandourotherprojects;ourabilitytoreplaceMineralReserves;ourabilitytoobtainnecessarypermitsfortheChinchillasproject;commodityprice fluctuations;politicaloreconomicinstabilityandunexpectedregulatorychanges;currencyandinterestratefluctuations;thepossibilityoffuturelosses;generaleconomicconditions;fullyrealizingthevalueofourshareholdingsinPretiumResourcesInc.andour othermarketablesecurities,duetochangesinprice,liquidityordisposalcostofsuchmarketablesecurities;counterpartyandmarketrisksrelatedtothesaleofourconcentrateandmetals;uncertaintyintheaccuracyofMineralReservesandMineralResources estimatesandinourabilitytoextractmineralizationprofitably;differencesinU.S.andCanadianpracticesforreportingMineralReservesandMineralResources;lackofsuitableinfrastructureordamagetoexistinginfrastructure;futuredevelopmentrisks,including start-updelaysandcostoverruns;ourabilitytoobtainadequatefinancingforfurtherexplorationanddevelopmentprogramsandopportunities;uncertaintyinacquiringadditionalcommerciallymineablemineralrights;delaysinobtainingorfailuretoobtain governmentalpermits,ornon-compliancewithourpermits;ourabilitytoattractandretainqualifiedpersonnelandmanagement;potentiallabourunrest,includinglabouractionsbyourunionizedemployeesatPunaOperations;theimpactofgovernmental regulations,includinghealth,safetyandenvironmentalregulations,includingincreasedcostsandrestrictionsonoperationsduetocompliancewithsuchregulations;reclamationandclosurerequirementsforourmineralproperties;failuretoeffectivelymanageour tailingsfacilities;socialandeconomicchangesfollowingclosureofaminemayleadtoadverseimpactsandunrest;unpredictablerisksandhazardsrelatedtothedevelopmentandoperationofamineormineralpropertythatarebeyondourcontrol;indigenous peoples’titleclaimsandrightstoconsultationandaccommodationmayaffectourexistingoperationsaswellasdevelopmentprojectsandfutureacquisitions;assessmentsbytaxationauthoritiesinmultiplejurisdictions;recoverabilityofVATandsignificantdelaysin thecollectionprocessinArgentina;claimsandlegalproceedings,includingadverserulingsinlitigationagainstusand/orourdirectorsorofficers;compliancewithanti-corruptionlawsandinternalcontrols,andincreasedregulatorycompliancecosts;complyingwith emergingclimatechangeregulationsandtheimpactofclimatechange,includingextremeweatherconditions;fullyrealizingourinterestindeferredconsiderationreceivedinconnectionwithrecentdivestitures;uncertaintiesrelatedtotitletoourmineralproperties andtheabilitytoobtainsurfacerights;thesufficiencyofourinsurancecoverage;civildisobedienceinthecountrieswhereourmineralpropertiesarelocated;operationalsafetyandsecurityrisks;actionsrequiredtobetakenbyusunderhumanrightslaw; competitionintheminingindustryformineralproperties;ourabilitytocompleteandsuccessfullyintegrateanannouncedacquisition;aneventofdefaultunderourconvertiblenotesmaysignificantlyreduceourliquidityandadverselyaffectourbusiness;failureto meetcovenantsunderourseniorsecuredrevolvingcreditfacility;conflictsofinterestthatcouldarisefromcertainofourdirectors’andofficers’involvementwithothernaturalresourcecompanies;informationsystemssecuritythreats;andthoseothervariousrisks anduncertaintiesidentifiedundertheheading“RiskFactors”inourmostrecentAnnualInformationFormfiledwiththeCanadiansecuritiesregulatoryauthoritiesandincludedinourmostrecentAnnualReportonForm40-FfiledwiththeU.S.Securitiesand ExchangeCommission(“SEC”). Theforegoinglistisnotexhaustiveofallfactorsandassumptionswhichmayhavebeenused.Wecannotassureyouthatactualevents,performanceorresultswillbeconsistentwiththeseforward-lookingstatements,andmanagement’sassumptionsmayproveto beincorrect.Ourforward-lookingstatementsreflectcurrentexpectationsregardingfutureeventsandoperatingperformanceandspeakonlyasofthedatehereofandwedonotassumeanyobligationtoupdateforward-lookingstatementsifcircumstancesor management’sbeliefs,expectationsoropinionsshouldchangeotherthanasrequiredbyapplicablelaw.Forthereasonssetforthabove,youshouldnotplaceunduerelianceonforward-lookingstatements. Allreferencesto“$”inthispresentationaretoU.S.dollars unlessotherwisestated. QualifiedPersons Exceptasotherwisesetoutherein,thescientificandtechnicalinformationcontainedinthispresentationrelatingtoeachofthe:MarigoldminehasbeenreviewedandapprovedbyThomasRiceandJamesN.Carver,eachofwhomisaSMERegisteredMember,a qualifiedpersonunderNational Instrument43-101–StandardsofDisclosureforMineralProjects(“NI43-101”)andouremployee;SeabeeGoldOperationPEAhasbeenreviewedandapprovedbyMichaelSelby,P.Eng.,PrincipalConsultant(Mining),SRK Consulting(Canada)Inc.,andDominicChartier,P.Geo.,SeniorConsultant(Geology),SRKConsulting(Canada)Inc.,eachofwhomisaqualifiedpersonunderNI43-101;andSeabeeGoldOperationandPunaOperationshasbeenreviewedandapprovedbyF. CarlEdmunds,P.Geo.,aqualifiedpersonunderNI43-101andouremployee.Thequalifiedpersonshaveverifiedtheinformationdisclosedherein,includingthesampling,preparation,securityandanalyticalproceduresunderlyingsuchinformation,andarenot awareofanysignificantrisksanduncertaintiesthatcouldbeexpectedtoaffectthereliabilityorconfidenceintheinformationdiscussedherein. CautionaryNotetoU.S.Investors ThispresentationincludesMineralReservesandMineralResourcesclassificationtermsthatcomplywithreportingstandardsinCanadaandtheMineralReservesandtheMineralResourcesestimatesaremadeinaccordancewithNI43-101.NI43-101isarule developedbytheCanadianSecuritiesAdministratorsthatestablishesstandardsforallpublicdisclosureanissuermakesofscientificandtechnicalinformationconcerningmineralprojects.ThesestandardsdiffersignificantlyfromtherequirementsoftheSECsetout inSECIndustryGuide7.Consequently,MineralReservesandMineralResourcesinformationincludedinthispresentationisnotcomparabletosimilarinformationthatwouldgenerallybedisclosedbydomesticU.S.reportingcompaniessubjecttothereportingand disclosurerequirementsoftheSEC.UnderSECstandards,mineralizationmaynotbeclassifiedasa“reserve”unlessthedeterminationhasbeenmadethatthemineralizationcouldbeeconomicallyproducedorextractedatthetimethereservedeterminationis made.Inaddition,theSEC’sdisclosurestandardsnormallydonotpermittheinclusionofinformationconcerning“MeasuredMineralResources,”“IndicatedMineralResources”or“InferredMineralResources”orotherdescriptionsoftheamountofmineralizationin mineraldepositsthatdonotconstitute“reserves”byU.S.standardsindocumentsfiledwiththeSEC. CautionaryNoteRegardingNon-GAAPMeasures ThispresentationincludescertaintermsorperformancemeasurescommonlyusedintheminingindustrythatarenotdefinedunderInternationalFinancialReportingStandards(“IFRS”),includingcashcostsandAISCperpayableounceofpreciousmetalssoldand realizedmetalprices.Non-GAAPfinancialmeasuresdonothaveanystandardizedmeaningprescribedunderIFRSand,therefore,maynotbecomparabletosimilarmeasuresreportedbyothercompanies.Webelievethat,inadditiontoconventionalmeasures preparedinaccordancewithIFRS,certaininvestorsusethisinformationtoevaluateourperformance.Thedatapresentedisintendedtoprovideadditionalinformationandshouldnotbeconsideredinisolationorasasubstituteformeasuresofperformance preparedinaccordancewithIFRS.Thesenon-GAAPmeasuresshouldbereadinconjunctionwithourconsolidatedfinancialstatements.Readersshouldrefertoourmanagement’sdiscussionandanalysis,availableunderourcorporateprofileatwww.sedar.comor onourwebsiteatwww.ssrmining.com,undertheheading“Non-GAAPandAdditionalGAAPFinancialMeasures”foramoredetaileddiscussionofhowwecalculatesuchmeasuresandforareconciliationofsuchmeasurestoIFRSterms. SSRM:NASDAQ/TSX PAGE 2 Today’s Agenda  Welcome and Introduction  Strategy and Outlook  Financial Review  Operational Overview  Operational Excellence  Exploration and Development  Closing Remarks and Q+A SSRM:NASDAQ/TSX PAGE 3 Today’s Speakers A. E. Michael Anglin Paul Benson Gregory J. Martin Alan N. Pangbourne Chairman President and CEO SVP and CFO COO Cameron Chapman Jon Gilligan Duane Peck Carl Edmunds James Carver General Manager General Manager General Manager Chief Geologist Chief Geologist Seabee Puna Operations Marigold Mine Marigold Mine SSRM:NASDAQ/TSX PAGE 4 Introduction Mike Anglin, Chairman SSRM:NASDAQ/TSX PAGE 5 Transformation to an Intermediate Precious Metals Producer  Attractive management team with an operational discipline Management  Experienced across regions, cultures and operations  Operational Excellence is fundamental to our approach  Consistent operational performance was a focus early on Assets  Diversified portfolio of operations with exploration growth  Rationalized portfolio of exploration stage assets  Focused on growth and profitability Capital  Created a disciplined capital allocation model  Lean, de-centralized corporate platform SSRM:NASDAQ/TSX PAGE 6 Transformation to an Intermediate Precious Metals Producer Strong operating Three operating mines Building cash while platform and “OE” focus located in the Americas investing in the future SSRM:NASDAQ/TSX PAGE 7 SSR Mining Board of Directors Depth of experience and a top governance rating Michael Anglin Brian Booth Gustavo Herrero BeverleePark Richard Paterson Steven Reid Paul Benson Chairman, Safety & Corporate Audit Audit Committee Compensation Director Corporate Sustainability Governance & Committee, Chair, Corporate Committee President and Governance & Committee Nominating Compensation Governance & Chair, Safety & CEO Nominating Chair, Committee Chair, Committee, Nominating Sustainability Committee Compensation Audit Committee Safety & Committee Committee Committee Sustainability Committee BSc Mining BSc Geology BBA, MBA BCom, FCPA/FCA, BCom BSc Mineral BSc Geology and Engineering, MSc MBA Engineering, MBA Exploration Geophysics, BE Mining, MSc BHP Billiton Inco, Lake Shore IVA S.A., Zucamor TimberWest GenstarCapital Goldcorp, Placer BHP Billiton, Rio Gold, Pembrook S.A./PapelMisionero Dome, Kingsgate, Tinto, Troy S.A., TyrusCapital Newcrest Resources and RenisonGoldfields SSRM:NASDAQ/TSX PAGE 8 Strategy and Outlook Paul Benson, President and CEO SSRM:NASDAQ/TSX PAGE 9 SSR Mining Executive Team Paul Benson Nadine J. Block W. John DeCooman, Jr. Gregory J. Martin Alan N. Pangbourne President and CEO VP, Human Resources VP, Business Development SVP and CFO COO and Strategy BSc Geology and BA Psychology, BSc Mineral MBA, CPA, CGA, BApScMetallurgy, Exploration MBA Economics, MSc P.Eng, BAScCivil Graduate Diploma in Geophysics, BE Mineral Economics Engineering Mineral Processing Mining, MSc Troy Resources, TimberWest, Echo Bay Mines, Placer Dome, Kinross, BHP Billiton, BHP Billiton, Rio Finning, Pan Bankers Trust, and NovaGold, Zincore, Signet Engineering, Tinto and Renison American Silver, and Deutsche Bank and Finning Marvel Loch Gold Goldfields Quadra FNX Mines, Seltrust/ BP Minerals SSRM:NASDAQ/TSX PAGE 10

Description:
Note: Portfolio divestments include San Agustin, Challacollo, Diablillos, M-18, Parral, San Agustin. Brucejack. Snowfield. (Pretium). Silvertip. 4. Chinchillas. 4 Also see “Technical Report for the San Luis Project Feasibility Study,
See more

The list of books you might like

Most books are stored in the elastic cloud where traffic is expensive. For this reason, we have a limit on daily download.