Gatos Silver Investor Presentation Deck
All-in Sustaining Cost Curve for Primary Silver Mines (2023)
$40
$35
$30
$25
$20
$15
$10
$5
Competitive Cost Position
CLG is a low cost, high margin operation
$0
($5)
($10)
2023 Guidance
$11.00-$13.00/ oz Ag pay.
LOM Plan
$7.70/oz Ag pay.
Silver Payable (Moz)
180
Source: S&P Capital IQ Mine Cost Service for Primary Silver Mines for 2023; data represents all-in sustaining
costs. Cerro Los Gatos is added using the mid-point of the Company's 2023 AISC(1) guidance of $11.00 -
$13.00/oz Ag payable. Primary silver mines represent -28%(2) of global mined silver production; remainder is
primarily as a by-product from copper, lead/zinc and gold mines.
+ CLG is well positioned on cost curve
Profitability through price cycles
■
+LOM cost position supported by:
GATOS
SILVER
I
High silver grades with substantial by-products
▪ Deposit geometry and vein widths which allow
for productive, mechanized mining methods
▪ Lower go-forward capital requirements
▪ Continuous improvement process and culture
with potential for further cost improvements
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