Investor Presentaiton
SPRINGPOLE - 2021 PFS RESULTS (1)
Base Case Highlights:
Au Price:
US$1,600/oz
After-Tax NPV5
5%
US$995 million
Ag Price:
US$20/oz
After-Tax IRR
29.4%
S
Production
LOM
Year 1 to 9
Mine Life
yr
11.3
9.0
FX:
LOM Strip Ratio
W:0
2.36
2.30
0.75
Daily Throughput
tpd
30,000
Gold
Gold Head Grade
g/t
0.97
1.12
Gold Recovery
%
85.7%
87.0%
Total Payable Gold
koz
3,225
3,018
LOM
Year
1-9
Pre-Tax NPV.
5%
US$1.5 billion
Annual Production
335 koz
Annual Production
287 koz
Initial Capex
US$718mm
Pre-Tax IRR
36.4%
AISC (net of silver)
US$577/oz
AISC (net of silver)
US$645/oz
Sustaining Capex
US$55mm
Economic Sensitivity to Gold Price
AISC (net)
Cash Costs
AISC
Capital Cost
Average Annual Gold
koz
287
335
Peak Gold Production (Year 3)
koz
400
400
Silver
Silver Head Grade
g/t
5.2
5.7
Silver Recovery
%
89.5%
89.8%
Total Payable Silver
koz
18,117
16,077
Average Annual Silver
koz
1,610
1,786
Operating Costs
US$/oz
$618
$558
US$/oz
$645
$577
US$/oz AuEq
$673
$612
US$/oz AuEq
$698
$631
Pre-Tax
Pre-Tax
After-Tax
Gold Price
NPV 5%
IRR
NPV 5%
After-Tax
IRR
Initial Capex
US$mm
$718
Sustaining Capex
US$mm
$55
US$/oz
US$mm
%
US$mm
%
Closure Cost
US$mm
$29
$1,300
$822
24.8%
$537
20.0%
Total Capital
US$mm
$803
$1,400
$1,042
28.9%
$690
23.3%
$1,600
$1,482
36.4%
$995
29.4%
$1,800
$1,921
43.2%
$1,297
35.0%
$2,000
$2,361
49.5%
$1,599
40.1%
IRR
Economics
NPV (5%)
Payback
Pre-Tax
Post Tax
US$mm
$1,482
$995
%
36.4%
29.4%
yr
2.2
2.4
Cash Costs (net)
(1) See page 28 for further details and disclosure regarding the 2021 Springpole PFS
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FIRST MINING
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