Gatos Silver Investor Presentation Deck
Non-GAAP Financial Performance Measures
Cash Cost and AISC Reconciliation
The following table presents a reconciliation between the most comparable GAAP measure of the LGJV's expenses to the non-GAAP measures of (i) cash costs, (ii) cash costs, net of by-product credits, (iii)
co-product AISC and (iv) by-product AISC for the Company's operations. The Company is unable to provide without unreasonable efforts a reconciliation of forward-looking AISC and related measures on a
per-year basis to cost of sales due to the inherent difficulty in forecasting and quantifying certain amounts, some of which may be material, that are necessary for such reconciliation.
Cash Costs and All-In Sustaining Costs
Mining Costs
Milling Costs
Transportation Costs
Cost of Sales
Royalties
General and Administrative
Expenses
Treatment and Refining Costs
Cash Costs
Sustaining Capital
Accretion Expense
All-in Sustaining Costs (AISC)(¹)(2)
By-product Credits (3)
Payable Silver
Cash Costs before By-product Credits
AISC before By-product Credits
By-product Credits(³)
By-product Cash Cost
By-product AISC(¹)
Payable Silver Equivalent(3)(4)
Co-product Cash Cost
Co-product AISC(¹)
(1)
(2)
(3)
(4)
Units
$M
$M
$M
$M
$M
$M
$M
$M
$M
$M
$M
$M
$M
Moz
$/oz Ag payable
$/oz Ag payable
$/oz Ag payable
$/oz Ag payable
$/oz Ag payable
Moz
$/oz AgEq payable
$/oz AgEq payable
2023 LOM Plan
(H2'23+)
$356.7
$215.3
$116.4
$688.5
$3.9
$144.6
$837.0
$146.9
$983.8
$160.2
$0.0
$1,144.0
$(846.9)
44.9
$21.89
$25.45
$(18.84)
$3.05
$6.61
83.4
$11.79
$13.71
2022 LOM Plan
(H2'23+)
$230.7
$131.3
$79.9
$442.0
$3.7
$85.7
$531.4
$115.1
$646.5
$67.6
$7.2
$721.3
$(536.9)
30.9
GATOS
SILVER
$20.96
$23.38
$(17.40)
$3.55
$5.98
55.3
$11.70
$13.05
Excludes LGJV management fee and administration costs of approximately $6 million per year, equivalent to $1.09 / oz Ag payable and $0.59 / oz AgEq payable, respectively in the 2023 LOM Plan and
$0.89 / oz Ag payable and $0.50 /oz AgEq payable, respectively in the 2022 LOM Plan.
Excludes any exploration costs related to future resource expansion and conversion.
Assumes prices of $22.00/oz silver, $1.20/lb zinc, and $0.90/lb lead, $1,700/oz gold and $3.50/lb copper.
Payable silver equivalent ounces include copper aligned to current payable terms for copper in lead concentrate.
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