ANTIMONY-BASED LIQUID METAL BATTERIES
FEASIBILITY STUDY - HIGHLIGHTS¹
Total Recovered Gold
Component
Total Recovered Antimony
Cash Costs Net of By-Product Credits²
Early Production
Years 1-4
1,853 koz
Life-of-Mine
Years 1-15
4,238 koz
115 Mlbs
297 koz/yr
$538/koz
$636/koz
Average Annual Recovered Gold
74 Mlbs
463 koz/yr
$328/koz
All-in Sustaining Costs Net of By-Product Credits²
2
$438/koz
Initial Capital including Contingency
$1,263 million
$1,600/oz gold - $20/oz silver - $3.50/lb antimony
After-Tax Net Present Value at 5% Discount Rate
Annual Average EBITDA
2
Annual Average After Tax Free Cash Flow²
After Tax Internal Rate of Return
$1,320 million
$566 million
$500 million
After Tax Payback Period
22.3%
2.9 years
$1,850/oz gold - $24/oz silver - $3.50/lb antimony
After-Tax Net Present Value at 5% Discount Rate
$1,864 million
Annual Average EBITDA
$678 million
Annual Average After Tax Free Cash Flow²
$584 million
After Tax Internal Rate of Return
After Tax Payback Period
$292 million
$242 million
Notes:
=
=
1. In this presentation, "M"
million, "k" thousand, all
amounts in US$, gold and silver
reported in troy ounces ("oz")
2. Cash costs, All-in Sustaining
Costs, EBITDA and After Tax Free
Cash Flow are non-GAAP
measures. See "Non-GAAP
measures" at the end of this
presentation.
3. The FS assumes 100% equity
financing of the Project.
27.7%
2.5 years
$360 million
$295 million
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 contained in
the FS. See "Regulatory Information" at the
end of this presentation. For a summary of
differences between the FS and TRS, see
"Cautionary Note and Technical Disclosure"
at the beginning of this presentation.
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