ANTIMONY-BASED LIQUID METAL BATTERIES
LOWEST QUARTILE ALL-IN SUSTAINING COSTS¹
Among lowest cost North American developers...
...and lowest cost relative to senior producers
3
3
Perpetua (Stibnite) Yrs 1-4
$438
Perpetua (Stibnite) Yrs 1-4
3
Perpetua (Stibnite) LoM
$636
3
Perpetua (Stibnite) LoM
Skeena (Eskay Creek)
$652
Agnico Eagle
Novagold (Donlin)
Ascot (Premier)
Artemis (Blackwater)
Integra (Delamar)
$692
Newmont
$769
Barrick
$850
$955
Kinross
$0
$300
$600
$900
$1,200
$438
$636
$1,090
$1,211
$1,222
$1,271
$0 $300 $600
$600 $900 $1,200 $1,500
North American Gold Developer All-in Sustaining Costs ($/oz) 1,2
North American Senior Gold Producer All-in Sustaining Costs ($/oz) 1,2
Valuable antimony by-product credit of $70/oz over life of mine³
1. All-in Sustaining Cost ("AISC") is a non-GAAP measure. See "Non-GAAP measures" at the end of this presentation.
2. North American gold developer project all-in sustaining costs are based on the most recent available technical reports. North American senior gold producer all-in sustaining costs represent FY 2022 actuals from company reports and filings.
3. 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. Antimony by-product credit is calculated using antimony price of $3.50/lb.
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