Yamana Gold provided a corporate summary for Q3 2019 that included the following key points:
1. Yamana has a portfolio of five producing gold and silver mines located in Brazil, Canada, Chile and Argentina that are expected to produce over 1 million gold-equivalent ounces annually.
2. The mines - Jacobina, Canadian Malartic, El Peñón, Cerro Moro, and Minera Florida - have long mine lives and provide geographic and commodity diversification.
3. Yamana is uniquely positioned with both producing assets and a pipeline of development projects that can be advanced or monetized to provide additional value.
This corporate summary from Yamana Gold provides an overview of the company's operations and strategic initiatives. Key points include:
1) Yamana Gold has a production platform of over 1 million gold-equivalent ounces annually from its portfolio of high-quality, long-life assets diversified across Canada, Brazil, Chile and Argentina.
2) The company has implemented organizational enhancements, upgraded its asset portfolio by adding Canadian Malartic and optimizing Jacobina, and changed its board and management to a more experienced team.
3) Yamana Gold has a track record of on-time, on-budget project delivery and is optimizing development plans for future projects like Agua Rica. The company has also improved its
Canadian Malartic Investor and Analyst Tour - General PresentationAgnico Eagle Mines
The document provides information from an investor and analyst tour of Agnico Eagle's Canadian Malartic mine held on September 30, 2014. It includes forward-looking statements about estimates, costs, and production targets. The tour agenda covers topics like human resources, health and safety, geology, reserves, mining operations, environment, and questions. Statistics on the workforce, safety, and mine facilities like the pit, mill, and tailings area are also presented. Opportunities for improvements in mining, milling, and costs in the second half of 2014 are discussed.
BMO Capital Markets 27th Global Mining & Metals Conferenceyamanagold2016
The document provides an overview of Yamana Gold's operations and outlook. Some key points:
- Yamana exceeded its 2017 production guidance for gold, silver, and copper.
- For 2018, Yamana guidance is 940k oz gold production at cash costs of $561-820/oz and AISC of $725-745/oz.
- Cerro Moro is expected to ramp up in Q2 2018 and be a significant contributor to cash flow going forward.
- Chapada provides long-term potential through exploration and expansion studies to be updated in Q2 2018.
- Cash flow is expected to significantly increase in the second half of 2018 and beyond as operations ramp up.
- Yamana Gold exceeded its 2017 production guidance for gold, silver, and copper. Production costs were in line with or better than guidance.
- In 2018, Yamana expects to increase gold and silver production compared to 2017, with gold production guidance of 900,000 ounces and silver production guidance of 8.15 million ounces. Copper production is expected to remain steady at 120 million pounds.
- All-in sustaining costs for 2018 are forecast to be between $725-745 per ounce of gold and $10.50-$10.80 per ounce of silver, expected to decrease in 2019 with the ramp-up of Cerro Moro and productivity improvements.
- Yamana Gold is a gold and silver producer with increasing production guidance over the next three years through 2020, representing an 8.8% CAGR for gold equivalent ounces.
- Costs are expected to decrease in 2018, with by-product cash costs of $460-480/GEO and AISC of $725-745/GEO on a gold equivalent ounce basis.
- Expansionary capital is decreasing, representing only 63% of total capital in 2018, and expected to further decrease to a future run rate of $50-75M absent new projects.
The document provides an overview of Auryn Resources Inc. and summarizes a preliminary economic assessment for its Homestake Ridge gold project. Key highlights include:
- Indicated resource of 166,000 oz gold and 1.8M oz silver and inferred resource of 816,700 oz gold and 17.8M oz silver for Homestake Ridge.
- The PEA shows a pre-tax IRR of 23.6% and NPV of $108M at a gold price of $1,350/oz for Homestake Ridge.
- Auryn is also exploring two projects in Peru, Sombrero and Curibaya, which show potential for large copper-gold porphyry and high-grade
Pan American Silver held its annual general meeting on May 8, 2019 to celebrate its 25th anniversary. The presentation discussed the company's diversified portfolio of silver mines across the Americas and highlighted its 2018 financial and operational results. It also summarized the benefits of Pan American's recent acquisition of Tahoe Resources, which increased the company's silver reserves and production per share. Preliminary results for the first quarter of 2019, which included contribution from the newly acquired Tahoe mines, showed higher revenue and metal sales compared to Q1 2018. The presentation provided Pan American's full-year 2019 production and cost guidance.
The document discusses Yamana Gold's operations and outlook. It provides production and cost guidance for 2017 that Yamana is tracking well against through the first half of the year. Production is expected to increase in the second half to meet full-year guidance. Cash flows are also expected to be higher in the second half and step higher again in 2018 as expansions come online. The balance sheet is projected to strengthen with decreasing net debt to EBITDA ratios through cash flow generation and asset sales.
This corporate summary from Yamana Gold provides an overview of the company's operations and strategic initiatives. Key points include:
1) Yamana Gold has a production platform of over 1 million gold-equivalent ounces annually from its portfolio of high-quality, long-life assets diversified across Canada, Brazil, Chile and Argentina.
2) The company has implemented organizational enhancements, upgraded its asset portfolio by adding Canadian Malartic and optimizing Jacobina, and changed its board and management to a more experienced team.
3) Yamana Gold has a track record of on-time, on-budget project delivery and is optimizing development plans for future projects like Agua Rica. The company has also improved its
Canadian Malartic Investor and Analyst Tour - General PresentationAgnico Eagle Mines
The document provides information from an investor and analyst tour of Agnico Eagle's Canadian Malartic mine held on September 30, 2014. It includes forward-looking statements about estimates, costs, and production targets. The tour agenda covers topics like human resources, health and safety, geology, reserves, mining operations, environment, and questions. Statistics on the workforce, safety, and mine facilities like the pit, mill, and tailings area are also presented. Opportunities for improvements in mining, milling, and costs in the second half of 2014 are discussed.
BMO Capital Markets 27th Global Mining & Metals Conferenceyamanagold2016
The document provides an overview of Yamana Gold's operations and outlook. Some key points:
- Yamana exceeded its 2017 production guidance for gold, silver, and copper.
- For 2018, Yamana guidance is 940k oz gold production at cash costs of $561-820/oz and AISC of $725-745/oz.
- Cerro Moro is expected to ramp up in Q2 2018 and be a significant contributor to cash flow going forward.
- Chapada provides long-term potential through exploration and expansion studies to be updated in Q2 2018.
- Cash flow is expected to significantly increase in the second half of 2018 and beyond as operations ramp up.
- Yamana Gold exceeded its 2017 production guidance for gold, silver, and copper. Production costs were in line with or better than guidance.
- In 2018, Yamana expects to increase gold and silver production compared to 2017, with gold production guidance of 900,000 ounces and silver production guidance of 8.15 million ounces. Copper production is expected to remain steady at 120 million pounds.
- All-in sustaining costs for 2018 are forecast to be between $725-745 per ounce of gold and $10.50-$10.80 per ounce of silver, expected to decrease in 2019 with the ramp-up of Cerro Moro and productivity improvements.
- Yamana Gold is a gold and silver producer with increasing production guidance over the next three years through 2020, representing an 8.8% CAGR for gold equivalent ounces.
- Costs are expected to decrease in 2018, with by-product cash costs of $460-480/GEO and AISC of $725-745/GEO on a gold equivalent ounce basis.
- Expansionary capital is decreasing, representing only 63% of total capital in 2018, and expected to further decrease to a future run rate of $50-75M absent new projects.
The document provides an overview of Auryn Resources Inc. and summarizes a preliminary economic assessment for its Homestake Ridge gold project. Key highlights include:
- Indicated resource of 166,000 oz gold and 1.8M oz silver and inferred resource of 816,700 oz gold and 17.8M oz silver for Homestake Ridge.
- The PEA shows a pre-tax IRR of 23.6% and NPV of $108M at a gold price of $1,350/oz for Homestake Ridge.
- Auryn is also exploring two projects in Peru, Sombrero and Curibaya, which show potential for large copper-gold porphyry and high-grade
Pan American Silver held its annual general meeting on May 8, 2019 to celebrate its 25th anniversary. The presentation discussed the company's diversified portfolio of silver mines across the Americas and highlighted its 2018 financial and operational results. It also summarized the benefits of Pan American's recent acquisition of Tahoe Resources, which increased the company's silver reserves and production per share. Preliminary results for the first quarter of 2019, which included contribution from the newly acquired Tahoe mines, showed higher revenue and metal sales compared to Q1 2018. The presentation provided Pan American's full-year 2019 production and cost guidance.
The document discusses Yamana Gold's operations and outlook. It provides production and cost guidance for 2017 that Yamana is tracking well against through the first half of the year. Production is expected to increase in the second half to meet full-year guidance. Cash flows are also expected to be higher in the second half and step higher again in 2018 as expansions come online. The balance sheet is projected to strengthen with decreasing net debt to EBITDA ratios through cash flow generation and asset sales.
This presentation by Pan American Silver Corp. provides cautionary notes about non-GAAP measures used, reporting currency and financial information, and forward-looking statements. It discusses key assumptions around production, costs, capital investments, commodity prices, currency exchange rates, and operational risks. Technical information is reviewed by qualified persons and based on technical reports filed with securities regulatory authorities.
This presentation by Pan American Silver Corp. provides cautionary notes about non-GAAP measures used, reporting currency and financial information, and forward-looking statements. It discusses key assumptions around production, costs, capital investments, commodity prices, currency exchange rates, and operational risks. Technical information is reviewed by qualified persons and based on technical reports filed with securities regulatory authorities.
Pan American Silver Q4 FY 2016 Unaudited Results Conference Call Danielle Connor
This document provides an unaudited summary of Pan American Silver Corp.'s results for the fourth quarter of 2016. It includes consolidated financial highlights showing improved net earnings and cash flows compared to Q4 2015. Operating cash flow was sufficient to fund sustaining capital expenditures, taxes, and dividends. Production results for Q4 and full-year 2016 are provided for silver, gold, zinc, lead, and copper. Cash costs per ounce of silver are reported for each mine. The La Colorada and Dolores expansion projects are outlined, noting expected increases in production and estimated economics.
The document is an investor presentation for Pan American Silver Corp.'s annual meeting of shareholders on May 9, 2017. It provides an overview of Pan American Silver, including its portfolio of assets, production and cost profiles, financial strength, and highlights from 2016 including operating and reserve replacement performance, and corporate social responsibility programs. The presentation cautions investors that certain statements constitute forward-looking information subject to risks and uncertainties.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
Pan american investor presentation june 2019.pptxcsandovalduran
This presentation by Pan American Silver provides an overview of the company and includes cautionary notes about non-GAAP measures, forward-looking statements, and mineral reserves and resources. Some of the key points covered include non-GAAP measures used to evaluate performance, assumptions and risks associated with forward-looking statements, and information regarding QA/QC processes and parameters used to estimate reserves and resources for Pan American and recently acquired Tahoe assets. The presentation also notes that mineral reserve and resource estimates will be updated to include Tahoe assets going forward.
This document is an investor presentation by Pan American Silver from May 16, 2019. It includes cautionary notes about non-GAAP measures used, reporting currency, and forward-looking statements. It also includes cautions about technical information and mineral reserves and resources. The presentation provides an overview of Pan American Silver, including its recent acquisition of Tahoe Resources, and discusses non-GAAP measures, reporting currency, assumptions, risks, and qualifications related to forward-looking statements and technical/reserve information.
This document provides information about the Denver Gold Forum taking place from September 19-21, 2016. It includes cautionary notes about non-GAAP measures, reporting currency, forward-looking statements, and mineral reserves being reported. Technical information is reviewed by Pan American Silver's qualified person. A cautionary note about mineral reserves and resources for US investors is also provided.
Pan American Silver provides an investor presentation for its annual general and special meeting of shareholders. The presentation cautions readers that it refers to non-GAAP measures and reporting currency. It also notes the integration of Tahoe Resources Inc. in 2019. Finally, it provides extensive cautionary notes regarding the use of forward-looking statements and information, noting the assumptions used and risk factors that could cause actual results to differ materially.
This document summarizes an investor presentation by Pan American Silver Corp. It notes that the presentation will take place in Boston and NYC from November 30 to December 1, 2016. It provides cautionary statements about non-GAAP measures, reporting currency, and forward-looking statements. It also includes information about Pan American Silver being the second largest primary silver producer, having a portfolio of assets in the Americas with large silver reserves and solid production profile. The strategy is focused on extracting value from assets and pursuing profitable growth.
This presentation summarizes an investor presentation by Pan American Silver Corp. It discusses key highlights including being the second largest primary silver producer, having a large reserve base of 280 million ounces of silver, and a solid production profile with growth projected through 2018. It also outlines Pan American's strategy of extracting value from its asset portfolio and improving operating margins. Financial details are provided showing a strong balance sheet with over $400 million in working capital and liquidity. Capital expenditure projections decline after 2016 with priorities on high-return projects. Recent achievements in 2016 include significantly lower cash costs and all-in sustaining costs.
- Pan American Silver is a leading primary silver mining company with diversified operations across Latin America.
- In 2017, Pan American achieved record low cash costs of $4.55/oz and strong operating cash flow while expanding production at its La Colorada and Dolores mines.
- The company has a strong balance sheet with $527.5 million in total available liquidity and plans to invest in further growth projects like COSE and Joaquin that leverage existing infrastructure.
This presentation provides an overview of Pan American Silver Corp., a leading primary silver producer. Some key points:
- Pan American is a low-risk, low-cost primary silver producer with diversified operations across 6 mines in 4 countries.
- It has large silver reserves and resources and a track record of replacing reserves at a low cost.
- In 2017, Pan American achieved record operating cash flow and decade-low cash costs, demonstrating strong execution of its mine expansions.
- The company has a strong balance sheet with over $500 million in total available liquidity providing financial flexibility.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
- The presentation discusses Pan American Silver's investor presentation from November 2019, including non-GAAP measures and cautionary notes.
- It provides an overview of Pan American's acquisition of Tahoe Resources in February 2019, which added gold mines to Pan American's portfolio.
- The presentation cautions readers that forward-looking statements involve risks and uncertainties, and actual results could differ materially from expectations due to various operational, economic, regulatory and other factors.
Silvercorp Metals Inc. is China's premier silver producer with operations focused in Henan and Guangdong Provinces. Over its 15-year mine life at the Ying Mining District, Silvercorp has produced over 77 million ounces of silver and expects to produce over 1 billion pounds of lead and zinc. Silvercorp has a track record of growing reserves and resources through exploration while generating significant organic cash flow and profits. It has distributed over $480 million to shareholders and reported $64 per tonne in profits in its most recent quarter.
The document provides an overview of Lundin Gold's corporate presentation from August 2021. It cautions readers that some statements constitute forward-looking information and are subject to risks and uncertainties. It then highlights key points from the presentation including gold production and cost guidance for 2021, progress on construction projects to increase throughput, ongoing drilling programs, and regional exploration potential.
Pan American SIlver _ February Investor Presentation csandovalduran
The document summarizes the proposed merger between Pan American Silver Corp. and Tahoe Resources Inc. to form a new company called New Pan American. Key points include:
- The merger would double Pan American's silver reserves to 576 million ounces, making New Pan American the largest publicly traded primary silver mining company.
- The portfolio would be geographically diversified across the Americas and maintain significant exposure to silver while also producing gold, zinc, and other metals.
- New Pan American is expected to have an improved cost profile and be a leading silver miner based on production, margins, and reserve base.
This presentation provides an overview of Pan American Silver Corp., including cautionary notes about forward-looking statements, non-GAAP measures, and estimates of mineral reserves and resources. It discusses the company's estimated production, cash costs, capital investments, and plans for properties in 2018. It also lists key assumptions around factors that could affect the company's performance such as metal prices, currency exchange rates, and permitting.
Yamana Gold provides a corporate summary for January 2017. It has a vision to be a recognized leader in precious metals mining in the Americas. Its portfolio includes producing mines in Canada, Chile, Brazil and Argentina that will produce over 1.2 million ounces of gold and over 7 million ounces of silver in 2016. It is well positioned for growth with the Cerro Moro project starting production in 2018, potential expansions of existing mines, and a development pipeline and exploration prospects. The company aims to have a production profile of at least 130,000 ounces of gold annually from multiple cornerstone mines.
Corporate Summary from December 2016. It discusses Yamana Gold's vision, strategy, and portfolio post the spin out of Brio Gold. Key points include:
Yamana's vision is to be a recognized leader in precious metals mining focused in the Americas. The spin out of Brio Gold will allow greater focus on Yamana's remaining high quality assets and internal growth opportunities.
Post spin out, Yamana will have a streamlined portfolio of producing, development and exploration assets in low-risk jurisdictions. This includes 3 to 4 world class mines that will provide significant cash flow and a strengthened balance sheet to fund growth.
The Brio Gold transaction is expected to maximize value for both companies' shareholders by
This presentation by Pan American Silver Corp. provides cautionary notes about non-GAAP measures used, reporting currency and financial information, and forward-looking statements. It discusses key assumptions around production, costs, capital investments, commodity prices, currency exchange rates, and operational risks. Technical information is reviewed by qualified persons and based on technical reports filed with securities regulatory authorities.
This presentation by Pan American Silver Corp. provides cautionary notes about non-GAAP measures used, reporting currency and financial information, and forward-looking statements. It discusses key assumptions around production, costs, capital investments, commodity prices, currency exchange rates, and operational risks. Technical information is reviewed by qualified persons and based on technical reports filed with securities regulatory authorities.
Pan American Silver Q4 FY 2016 Unaudited Results Conference Call Danielle Connor
This document provides an unaudited summary of Pan American Silver Corp.'s results for the fourth quarter of 2016. It includes consolidated financial highlights showing improved net earnings and cash flows compared to Q4 2015. Operating cash flow was sufficient to fund sustaining capital expenditures, taxes, and dividends. Production results for Q4 and full-year 2016 are provided for silver, gold, zinc, lead, and copper. Cash costs per ounce of silver are reported for each mine. The La Colorada and Dolores expansion projects are outlined, noting expected increases in production and estimated economics.
The document is an investor presentation for Pan American Silver Corp.'s annual meeting of shareholders on May 9, 2017. It provides an overview of Pan American Silver, including its portfolio of assets, production and cost profiles, financial strength, and highlights from 2016 including operating and reserve replacement performance, and corporate social responsibility programs. The presentation cautions investors that certain statements constitute forward-looking information subject to risks and uncertainties.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
Pan american investor presentation june 2019.pptxcsandovalduran
This presentation by Pan American Silver provides an overview of the company and includes cautionary notes about non-GAAP measures, forward-looking statements, and mineral reserves and resources. Some of the key points covered include non-GAAP measures used to evaluate performance, assumptions and risks associated with forward-looking statements, and information regarding QA/QC processes and parameters used to estimate reserves and resources for Pan American and recently acquired Tahoe assets. The presentation also notes that mineral reserve and resource estimates will be updated to include Tahoe assets going forward.
This document is an investor presentation by Pan American Silver from May 16, 2019. It includes cautionary notes about non-GAAP measures used, reporting currency, and forward-looking statements. It also includes cautions about technical information and mineral reserves and resources. The presentation provides an overview of Pan American Silver, including its recent acquisition of Tahoe Resources, and discusses non-GAAP measures, reporting currency, assumptions, risks, and qualifications related to forward-looking statements and technical/reserve information.
This document provides information about the Denver Gold Forum taking place from September 19-21, 2016. It includes cautionary notes about non-GAAP measures, reporting currency, forward-looking statements, and mineral reserves being reported. Technical information is reviewed by Pan American Silver's qualified person. A cautionary note about mineral reserves and resources for US investors is also provided.
Pan American Silver provides an investor presentation for its annual general and special meeting of shareholders. The presentation cautions readers that it refers to non-GAAP measures and reporting currency. It also notes the integration of Tahoe Resources Inc. in 2019. Finally, it provides extensive cautionary notes regarding the use of forward-looking statements and information, noting the assumptions used and risk factors that could cause actual results to differ materially.
This document summarizes an investor presentation by Pan American Silver Corp. It notes that the presentation will take place in Boston and NYC from November 30 to December 1, 2016. It provides cautionary statements about non-GAAP measures, reporting currency, and forward-looking statements. It also includes information about Pan American Silver being the second largest primary silver producer, having a portfolio of assets in the Americas with large silver reserves and solid production profile. The strategy is focused on extracting value from assets and pursuing profitable growth.
This presentation summarizes an investor presentation by Pan American Silver Corp. It discusses key highlights including being the second largest primary silver producer, having a large reserve base of 280 million ounces of silver, and a solid production profile with growth projected through 2018. It also outlines Pan American's strategy of extracting value from its asset portfolio and improving operating margins. Financial details are provided showing a strong balance sheet with over $400 million in working capital and liquidity. Capital expenditure projections decline after 2016 with priorities on high-return projects. Recent achievements in 2016 include significantly lower cash costs and all-in sustaining costs.
- Pan American Silver is a leading primary silver mining company with diversified operations across Latin America.
- In 2017, Pan American achieved record low cash costs of $4.55/oz and strong operating cash flow while expanding production at its La Colorada and Dolores mines.
- The company has a strong balance sheet with $527.5 million in total available liquidity and plans to invest in further growth projects like COSE and Joaquin that leverage existing infrastructure.
This presentation provides an overview of Pan American Silver Corp., a leading primary silver producer. Some key points:
- Pan American is a low-risk, low-cost primary silver producer with diversified operations across 6 mines in 4 countries.
- It has large silver reserves and resources and a track record of replacing reserves at a low cost.
- In 2017, Pan American achieved record operating cash flow and decade-low cash costs, demonstrating strong execution of its mine expansions.
- The company has a strong balance sheet with over $500 million in total available liquidity providing financial flexibility.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
- The presentation discusses Pan American Silver's investor presentation from November 2019, including non-GAAP measures and cautionary notes.
- It provides an overview of Pan American's acquisition of Tahoe Resources in February 2019, which added gold mines to Pan American's portfolio.
- The presentation cautions readers that forward-looking statements involve risks and uncertainties, and actual results could differ materially from expectations due to various operational, economic, regulatory and other factors.
Silvercorp Metals Inc. is China's premier silver producer with operations focused in Henan and Guangdong Provinces. Over its 15-year mine life at the Ying Mining District, Silvercorp has produced over 77 million ounces of silver and expects to produce over 1 billion pounds of lead and zinc. Silvercorp has a track record of growing reserves and resources through exploration while generating significant organic cash flow and profits. It has distributed over $480 million to shareholders and reported $64 per tonne in profits in its most recent quarter.
The document provides an overview of Lundin Gold's corporate presentation from August 2021. It cautions readers that some statements constitute forward-looking information and are subject to risks and uncertainties. It then highlights key points from the presentation including gold production and cost guidance for 2021, progress on construction projects to increase throughput, ongoing drilling programs, and regional exploration potential.
Pan American SIlver _ February Investor Presentation csandovalduran
The document summarizes the proposed merger between Pan American Silver Corp. and Tahoe Resources Inc. to form a new company called New Pan American. Key points include:
- The merger would double Pan American's silver reserves to 576 million ounces, making New Pan American the largest publicly traded primary silver mining company.
- The portfolio would be geographically diversified across the Americas and maintain significant exposure to silver while also producing gold, zinc, and other metals.
- New Pan American is expected to have an improved cost profile and be a leading silver miner based on production, margins, and reserve base.
This presentation provides an overview of Pan American Silver Corp., including cautionary notes about forward-looking statements, non-GAAP measures, and estimates of mineral reserves and resources. It discusses the company's estimated production, cash costs, capital investments, and plans for properties in 2018. It also lists key assumptions around factors that could affect the company's performance such as metal prices, currency exchange rates, and permitting.
Yamana Gold provides a corporate summary for January 2017. It has a vision to be a recognized leader in precious metals mining in the Americas. Its portfolio includes producing mines in Canada, Chile, Brazil and Argentina that will produce over 1.2 million ounces of gold and over 7 million ounces of silver in 2016. It is well positioned for growth with the Cerro Moro project starting production in 2018, potential expansions of existing mines, and a development pipeline and exploration prospects. The company aims to have a production profile of at least 130,000 ounces of gold annually from multiple cornerstone mines.
Corporate Summary from December 2016. It discusses Yamana Gold's vision, strategy, and portfolio post the spin out of Brio Gold. Key points include:
Yamana's vision is to be a recognized leader in precious metals mining focused in the Americas. The spin out of Brio Gold will allow greater focus on Yamana's remaining high quality assets and internal growth opportunities.
Post spin out, Yamana will have a streamlined portfolio of producing, development and exploration assets in low-risk jurisdictions. This includes 3 to 4 world class mines that will provide significant cash flow and a strengthened balance sheet to fund growth.
The Brio Gold transaction is expected to maximize value for both companies' shareholders by
- The document contains forward-looking statements regarding the company's strategy, plans, performance, and portfolio that are subject to various risks and uncertainties.
- In 2016, the company met production and cost guidance, improved mine plans, advanced development projects, and increased cash flow and net free cash flow.
- For 2017, the company provides production and cost guidance for its mines that is in line with 2016 levels and outlines a three-year production plan with increasing gold, silver, and copper production through 2019.
BMO Capital Markets Global Metals & Mining Conference yamanagold2016
The document provides cautionary notes regarding forward-looking statements in a presentation for a metals and mining conference. It notes that forward-looking statements involve risks and uncertainties that could cause actual results to differ from expectations. It also cautions US investors that mineral resource classifications differ between Canadian and US standards. The document outlines non-GAAP financial measures used by the company and definitions of EBITDA and EBITDA margin. It states that all dollar amounts in the presentation are in US dollars unless otherwise indicated.
- The document summarizes a site visit to the Minera Florida mine in Chile.
- It includes an agenda for the visit with presentations on exploration, the plant operations, and a tour of the mine and exploration areas.
- The management team and six pillars approach are introduced, which focus on improving operations, advancing projects, improving finances, exploration, developing a project pipeline, and rationalizing assets.
Yamana Gold provided its third quarter 2016 results. Highlights included gold production of 305,581 ounces from continuing operations, in line with expectations. Costs were impacted by strengthening local currencies but cash flows increased from the prior year. Yamana remains on track to meet or exceed full-year guidance and has continued improving operations and developing projects like Cerro Moro and Suruca. Exploration success at existing mines also provides potential for further resource expansion.
Fourth Quarter 2016 and Full Year Results Presentationyamanagold2016
The document provides guidance and discusses operational performance for Yamana Gold for the fourth quarter and full year 2016. Key highlights include:
- Gold production for Q4 2016 was 318,368 ounces at an AISC of $928 per ounce. Silver production was 1.6 million ounces at an AISC of $14.48 per ounce.
- For the full year, Yamana met or exceeded its guidance for gold, silver and copper production and costs. Production came in at 1.27 million ounces of gold, 7 million ounces of silver and 116 million pounds of copper.
- Yamayo provides guidance for 2017-2019 that forecasts increasing gold and silver production over that period at expected lower costs
- Yamana Gold reported strong third quarter results, with gold production of 257koz, silver production of 1.4moz, and copper production of 37.1mlbs.
- Costs for the quarter were in line with guidance, with by-product cash costs of $496/oz gold and all-in sustaining costs of $729/oz gold.
- Production guidance for 2017 was increased for gold to 960koz, silver to 5.0moz, and copper to 125mlbs based on improvements across the portfolio.
The corporate summary document discusses Yamana Gold's strategy and outlook for 2017-2019. Key points include:
- Yamana has six mines producing gold and silver in four jurisdictions, and is positioned for significant production growth.
- Gold production is expected to increase 20% from 2017 to 2019, while silver production is forecasted to grow 200% over that period.
- Two development projects are advancing on schedule, with Cerro Moro expected to begin production in early 2018.
- Yamana aims to improve operations, advance projects, strengthen its balance sheet, make exploration discoveries, develop a pipeline of opportunities, and realize value from non-core assets.
- The company expects production and cost improvements
Corporate summary june 2017 final (boston)yamanagold2016
The corporate summary document discusses Yamana Gold's strategy and outlook for 2017-2019. Key points include:
- Yamana has six mines producing gold and silver in four jurisdictions, and is positioned for significant production growth.
- Gold production is expected to increase 20% from 2017 to 2019, while silver production is forecasted to grow 200% over that period.
- Two development projects are advancing on schedule to further boost production growth.
- Yamana aims to improve operations, advance projects, strengthen its balance sheet, make exploration discoveries, develop a pipeline of opportunities, and realize value from non-core assets.
- The strategy is expected to create value through achievable production and cost guidance over
- The document is Yamana Gold's first quarter report from 2017, which provides an overview of the company's performance and outlook.
- It discusses Yamana's progress on its six pillar approach, including improving operations, advancing development projects, strengthening its balance sheet, making exploration discoveries, growing its pipeline, and rationalizing non-core assets.
- Key highlights mentioned are that production and costs were better than budget in Q1, consolidated gold production guidance was increased, and significant improvements are expected in the second half of 2017 across various operations.
The document provides an overview and corporate summary of Yamana Gold Inc. It discusses Yamana's portfolio approach, with a focus on cornerstone assets that continue to meet or exceed expectations. It acknowledges challenges with some historical development projects but outlines a plan to improve performance and divest non-core assets. Key messages are around Yamana's confidence in its ability to execute its current plan and that it represents a significant value proposition.
Yamana Gold provides a corporate summary highlighting its cornerstone assets that continue to meet or exceed expectations, while admitting challenges with some historical development assets. The company has implemented cost containment initiatives that have lowered costs, and has a plan to pay down its revolving credit facility through lower costs, asset sales, and maintaining its dividend, which has increased over time.
This presentation by Pan American Silver provides an overview of the company and its operations. It cautions readers that some terms used, such as cash costs and all-in sustaining costs, are non-GAAP measures that may differ from other company's methods. It also notes that unless otherwise specified, dollar amounts refer to US dollars. Finally, it provides warnings about forward-looking statements and the risks involved in the company's projections, and discloses that technical information has been reviewed by qualified professionals.
Pan American Silver is a leading silver mining company with diversified mining and exploration assets across several countries. It has a track record of growing production through exploration success, mine construction and expansions. In 2018, Pan American expects to produce 25-26.5 million ounces of silver at cash costs of $1.04/oz and all-in sustaining costs of $6.71/oz. The company has a large reserve and resource base of over 288 million ounces of proven and probable silver reserves. Pan American is focused on increasing low-cost production through projects like the COSE and Joaquin projects in Argentina, which are expected to leverage existing infrastructure and operations.
Equinox Gold is a growth-focused Canadian mining company with seven operating gold mines, construction underway at a new project, and a clear path to achieve one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas with one property in Canada, two properties in the United States, one in Mexico and four in Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Equinox Gold is a growth-focused Canadian mining company with seven operating gold mines, construction underway at a new project, and a path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Equinox Gold is a growth-focused Canadian mining company with seven operating gold mines, construction underway at a new project, and a path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
This presentation provides an overview of Pan American Silver Corp., a leading primary silver producer. Some key points:
- Pan American is a diversified silver mining company with operating mines in Mexico, Peru, Argentina and Bolivia. It is the world's second largest primary silver producer.
- The company has a track record of growing production organically over 20+ years through mine expansions and new projects. Production is forecast to be 25-26.5 million ounces of silver in 2018.
- Pan American has a strong balance sheet with $552.7 million in total available liquidity as of Q3 2018. It focuses on investing in high-return projects while maintaining low debt and returning capital to shareholders.
Equinox Gold is a Canadian mining company with seven operating gold mines, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold production from a pipeline of development and expansion projects.
The document contains forward-looking statements regarding Yamana Gold's plans and objectives. It discusses Yamana's strategy to advance, develop, and build on its Canadian property pipeline in a strategic manner. It also notes Yamana's goal to integrate exploration and technical services to enhance shareholder value.
Q2 2016 Conference Call and Webcast Presentationyamanagold2016
- Yamana completed a technical review and drilling program at its C1 Santa Luz project in Brazil and decided to move the project to the execution phase.
- Drilling expanded and upgraded the mineral resource to contain 1.2 million ounces of proven and probable gold reserves and over 1 million ounces in measured and indicated resources.
- A new mine plan envisions increasing the processing plant capacity to 2.7 million tonnes per year to produce an average of 114,000 ounces of gold annually for the first seven years of an expected 10 year mine life.
- Economic analysis shows the project could generate an after-tax IRR of 71% and NPV of $268 million at a $1,300 gold
1) The document discusses Yamana Gold's high quality portfolio of gold and silver assets in the Americas that is poised for value accretion.
2) Preliminary Q1 2016 results are tracking well with production and costs in line with expectations despite stronger local currencies.
3) Near and medium term catalysts include continuing to meet or exceed guidance, advancing projects and exploration, and strengthening the balance sheet.
4) The acquisition of Riacho dos Machados adds critical mass to the Brio Gold division and a copper purchase agreement fully funds the acquisition and capital for the mine.
BMO Capital Markets Global Metals & Mining Conferenceyamanagold2016
- The document discusses Yamana Gold's operational results and expectations for 2016-2018.
- In 2015, Yamana achieved gold production within guidance and is positioned to meet or exceed 2016 targets following repositioning efforts.
- Yamana provides production, cost, and capital expenditure guidance for 2016 and breakdowns of expected gold production by mine for 2016-2018, projecting year over year growth at lower costs.
- The document also discusses Yamana's development pipeline and 2016 exploration program goals.
The document provides an overview of Yamana Gold Inc., outlining its high quality portfolio of mining assets positioned for value accretion. Key points include: Yamana delivered on 2015 production guidance and is well positioned for operational execution in 2016-2018; cornerstone mines include Chapada, El Peñon and Canadian Malartic; focus on the Americas and maximizing value from non-core assets; pursuit of organic growth opportunities including Cerro Moro and C1 Santa Luz projects. Cost guidance is provided for 2016, with cash costs and AISC expected to decrease year-over-year.
Yamana has a strong health, safety, environment and community program focused on achieving zero harm. The program is supported by experienced professionals and established policies. Yamana has a health, safety and environment management system in place for 10 years that has driven strong performance, including independent assessments and risk management plans. Yamana aims to maintain industry-leading safety performance through its zero harm vision and performance-driven strategy.
The document provides an overview of Yamana Gold's investor day presentation, noting that it contains forward-looking statements and cautionary notes regarding mineral reserves and resources as well as mineral reserve reporting for US investors. The presentation agenda outlines topics on health, safety, strategy, operations, projects, and the balance sheet to be covered.
2. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This presentation contains or incorporates by reference “forward-looking statements” and “forward-looking information” under applicable
Canadian securities legislation within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, but is not limited to the timing of the development
of the pyrite roaster, leverage ratios, the Gold Price Instrument, information with respect to the Company’s strategy, plans or future financial or operating performance, continued advancements at Jacobina,
Canadian Malartic, Cerro Moro, El Peñón, Minera Florida and Agua Rica, expected production and costs, future work and drilling programs, anticipated timing for the feasibility studies for the Agua Rica /
Alumbrera integrated project and the potential for future additions to mineral resources and mineral reserves. Forward-looking statements are characterized by words such as “plan,” “expect”, “budget”,
“target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the
opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown
factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the receipt of certain regulatory approvals and consent in
connection with the Company’s expectations in connection with the production and exploration, development and expansion plans at the Company's projects discussed herein being met, the impact of proposed
optimizations at the Company's projects, changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration or laws, policies and practices, and the
impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating
metal prices (such as gold, copper, silver and zinc), currency exchange rates (such as the Brazilian real, the Chilean peso, and the Argentine peso versus the United States dollar), the impact of inflation,
possible variations in ore grade or recovery rates, changes in the Company’s hedging program, changes in accounting policies, changes in mineral resources and mineral reserves, risks related to asset
disposition, risks related to metal purchase agreements, risks related to acquisitions, changes in project parameters as plans continue to be refined, changes in project development, construction, production
and commissioning time frames, unanticipated costs and expenses, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry,
failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and unanticipated
weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting timelines, government regulation and the risk of government expropriation or nationalization
of mining operations, risks related to relying on local advisors and consultants in foreign jurisdictions, environmental risks, unanticipated reclamation expenses, risks relating to joint venture operations, title
disputes or claims, limitations on insurance coverage and timing and possible outcome of pending and outstanding litigation and labour disputes, risks related to enforcing legal rights in foreign jurisdictions, as
well as those risk factors discussed or referred to herein and in the Company's Annual Information Form filed with the securities regulatory authorities in all provinces of Canada and available at
www.sedar.com, and the Company’s Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated
or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The
Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader
is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s
expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company’s plans and objectives and may not be appropriate for other purposes.
The Company has included certain non-GAAP financial measures and additional line items or subtotals, which the Company believes that together with measures determined in accordance with IFRS, provide
investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP financial measures do not have any standardized meaning prescribed under IFRS, and therefore they may
not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of
performance prepared in accordance with IFRS. The non-GAAP financial measures included in this presentation include: Free cash flow, net debt to EBITDA, cash costs per gold equivalent ounce sold, all-in
sustaining costs per gold equivalent ounce sold. Please refer to section 11 of the Company’s current annual Management’s Discussion and Analysis, which is filed on SEDAR and includes a detailed discussion of
the usefulness of the non-GAAP measures. The Company believes that in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use this
information to evaluate the Company’s performance. In particular, management uses these measures for internal valuation for the period and to assist with planning and forecasting of future operations.
Qualified Persons
Scientific and technical information contained in this presentation has been reviewed and approved by Sébastien Bernier (Senior Director, Geology and Mineral Resources). Sébastien Bernier is an employee of
Yamana Gold Inc. and a "Qualified Person" as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Data verification related to certain
scientific and technical information disclosed herein in connection with Yamana’s material properties can be found in the Company’s Annual Information Form dated March 28, 2019, available under the
Company’s profile on SEDAR at www.sedar.com and on the Company’s website.
The information presented herein was approved by management of Yamana Gold on October 4, 2019.
All amounts are expressed in United States dollars unless otherwise indicated.
CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS
Corporate Summary 2
3. DOMINANT INTERMEDIATE PRODUCER
PORTFOLIO FOR THE CURRENT AND NEXT CYCLE
Corporate Summary 3
Production platform of over 1 million gold-
equivalent ounces and growing(1,3)
Canada
Brazil
15%
34%28%
23%
Brazil
Canada
Chile
Argentina
Revenue
by Country(2)
1. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 82.5:1 for the 2020-2021 guidance period
2. Estimated 2020 run rate for revenue contribution by metal and by country.
3. See Cautionary Note Regarding Forward Looking Information.
15%
Gold
Silver
Revenue
by Metal(2)
85%
High Quality Portfolio with Long
Life Assets
Track Record of Consistency
Diversified by Jurisdiction and
Metal
Strong Balance Sheet and
Financial Flexibility
Increased Shareholder Returns
Canadian
Malartic
Chile
Minera Florida
El Peñón
Argentina
Cerro Moro
Jacobina
4. A TALE OF TWO COMPANIES
OPERATING MINES AND STRATEGIC ASSETS
Corporate Summary 4
Yamana is uniquely positioned as it offers:
High quality operations in jurisdictions strongly supportive of mining
A portfolio of non-producing assets which can be brought to production
as they advance through development process, and financial assets that
in today’s environment can be monetized
5. PRECIOUS METALS PORTFOLIO – THE FIRST COMPANY
FIVE PRODUCING MINES(1)
Corporate Summary 5
1. See Cautionary Note Regarding Forward Looking Information.
2. See Company press release dated September 5, 2019.
3. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 82.5:1 for the 2020-2021 guidance period.
JACOBINA BRAZIL EL PEÑÓN CHILE
CANADIAN MALARTIC CANADA
CERRO MORO ARGENTINA MINERA FLORIDA CHILE
Gold
Complex of underground mines with a
phased plan targeting over 200,000
ounces of gold(2)
Gold and Silver
Underground mine with over 200,000
gold equivalent ounces(3) of production
Gold 50% Ownership
Open pit mine with 660,000 ounces (100%
basis) of gold production
Gold and Silver
Open pit and underground mines with
over 200,000 gold equivalent ounces(3)
of production
Gold
Underground mine with approximately
90,000 gold equivalent ounces(3) of
production
6. PRECIOUS METALS PORTFOLIO
JACOBINA, CANADIAN MALARTIC
Corporate Summary 6
1. See Cautionary Note Regarding Forward Looking Information and Company press releases dated September 5, 3019 regarding Jacobina and September 9, 2019 regarding Canadian
Malartic.
2. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q22019.
3. Yamana reports costs on a gold equivalent ounce basis; for Jacobina and Canadian Malartic, gold equivalent ounces are equal to gold ounces.
Operations
Increased production guidance of 152,000 ounces of gold at
AISC(2) of $890/GEO(3) for 2019
Strategic Upside(1)
A two phase expansion which first, has the potential to take the
mine to a sustainable production rate of approximately 180,000
ounces per year and on approval of Phase 2, over 225,000 ounces
per year
CANADIAN MALARTIC (50% Owned)
Operations
Production guidance of 330,000 ounces of gold (50% basis) at
AISC(2) of $730/GEO(3) for 2019
Strategic Upside(1)
East Malartic, Odyssey and East Gouldie zones are being
evaluated as long life underground mining opportunities
JACOBINA
East-Gouldie Mineralized Corridor
Longitudinal View Looking North
7. PRECIOUS METALS PORTFOLIO
CERRO MORO, EL PEÑÓN, MINERA FLORIDA
Corporate Summary 7
1. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 93:1 for the second half of 2019.
2. See Cautionary Note Regarding Forward Looking Information.
3. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q22019.
4. Yamana reports costs on a gold equivalent ounce basis; for Minera Florida, gold equivalent ounces are equal to gold ounces.
CERRO MORO
MINERA FLORIDA
EL PEÑÓN
Operations
Production guidance of 200,000 GEO(1) at AISC(3) of $890/GEO(1) for 2019
Strategic Upside(2)
Targeting the addition of 1M GEO(1) of mineral resources
Operations
Production guidance of 195,000 GEO(1) at AISC(3) of $1,050/GEO(1) for 2019
Strategic Upside(2)
Targeting continued success in extending mine life through further
increases to mineral reserves and mineral resources
Operations
Production guidance of 85,000 ounces of gold at AISC(3) of $990/GEO(4) for
2019
Strategic Upside(2)
Targeting further increases to mineral reserves and mineral resources
8. 2017A 2018A 2019E 2020E 2021E Targeted
Production
PRECIOUS METALS PORTFOLIO
PRODUCTION AND OPERATING COSTS
Corporate Summary 8
1. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 79.6:1 for 2018 and for guidance 90:1 and 82.5:1 the 2019 and 2020-2021 guidance period, respectively. Excluding the Gualcamayo mine
which was sold in 2018.
2. See Cautionary Note Regarding Forward Looking Information.
3. 2018 Actuals have been adjusted to reflect the updated cost reporting methodology. Reconciliations for all non-GAAP financial measures are available at www.yamana.com/Q42018.
4. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q22019.
892K oz
1.0M oz 1.01M oz
1.02M oz 1.02M oz
Additionally, opportunities at existing operations to increase
production by 150k GEO(1)/year (+15%)
Represents Jacobina’s updated production guidance
above the 2018 production run rate
2019 Cost Guidance, $/GEO(1,2,3)
2018 Results 2019 Guidance
1,028
1,060
1,020
656
680
640
931
960
920
(4) (4)
Cost of Sales Cash Costs AISC
Production Profile, GEO(1,2,3)
Near-term production
growth at low costs
resulting in significant
growth in cash flows
Transition to positive free cash
flow occurred in the second
quarter of 2019 and cash flows
are expected to increase further
with a pronounced step change
having already commenced
Significant contributions are
expected to increasing cash flows
from Canadian Malartic and
Jacobina
9. LONG LIFE MINES
EXPECTED UPSIDE FROM INCREASED EXPLORATION
Corporate Summary 9
1. As of December 31, 2018, except for Jacobina which is as of June 30, 2019. Further details including tonnes and grade are presented in slides 34 to 39.
2. Measured and Indicated mineral resources are exclusive of Proven and Probable mineral reserves.
3. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
4. Silver converted to gold at a ratio of 89.4:1 in line with the average production guidance ratio.
5. Mineral reserves and mineral resource totals exclude Chapada which was sold and Agua Rica.
Mineral Reserves, Mineral Resources(1) and 2019 Production Guidance
0
1,000
2,000
3,000
4,000
EL PEÑÓN CANADIAN MALARTIC JACOBINA CERRO MORO MINERA FLORIDA
GEO(in000's)
Proven and Probable Mineral Reserves
Measured and Indicated Mineral Resources(2,3)
Inferred Mineral Resources(3)
2019 GEO Guidance
0
5,000
10,000
15,000
TOTAL
GEO(in000's)
(5)
(4)
(4)
10. STRATEGIC ASSETS – THE OTHER COMPANY
SIGNIFICANT VALUE BEYOND THE PRODUCING PORTFOLIO
Corporate Summary 10
AGUA RICA PROJECTS
OWNERSHIP INTERESTS FINANCIAL INSTRUMENTS
Large-scale copper, gold, silver, molybdenum
deposit located in Catamarca, Argentina
Portfolio of projects which provide a pipeline
of opportunities to advance and increase
value
Strategic investments including Leagold
Mining and a number of early stage
exploration companies
Portfolio of financial assets including the gold
price instrument, a royalty portfolio and a
number of contingent payments.
11. Corporate Summary 11
1. Copper equivalent metal includes copper with gold, molybdenum, and silver converted to copper-equivalent metal based on the following metal price assumptions: $6,614 per tonne of copper, $1,250 per ounce for gold, $24,250 per tonne for
molybdenum, and $18.00 per ounce for silver.
2. Assuming metal prices of $3.00 per pound of copper, $1,300 per ounce of gold price, $18.00 per ounce of silver, $11.00 per pound of molybdenum and using an 8% discount rate.
3. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q22019.
4. Mineral Reserves and Mineral Resources are as of June 30, 2019, further details including tonnes, grade and assumptions are presented in slides 34 to 37.
5. Gold equivalent ounces include gold plus silver at a ratio of 72:1.
6. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
STRATEGIC ASSETS
AGUA RICA
AGUA RICA REPRESENTS A SIGNIFICANT VALUE OPPORTUNITY
Large-scale copper, gold, silver, molybdenum deposit
located in Catamarca, Argentina.
Agreement to develop and operate using the existing
infrastructure at the Alumbrera mine.
Development is significantly de-risked given existing
infrastructure from Alumbrera.
The improved PFS highlights include:
A long mine life of 28 years
Annual production for the first 10 full years of
533M lbs of copper equivalent(1) production, cash
costs(3) of $1.29/lb, AISC(3) of $1.52/lb for the first
10 years
NPV of $1.935B and an IRR of 19.7%(2)
Value Seeking Stage along with a Feasibility Study, are
expected to be completed in 2019 and 2020. Permitting
also commenced.
9,944
2,687
Gold Equivalent Ounces
13,453
3,767
Copper Pounds
(inmillions)
(in000’s)
Measured and Indicated Mineral Resources Inclusive
of Proven and Probable Mineral Reserves(4)
Inferred Mineral Resources(4,6)
(5)
12. STRATEGIC ASSETS
PROJECTS
Corporate Summary 12
Canadian
Malartic
Jacobina
El Peñón
Minera Florida
Cerro Moro
Monument Bay
Agua Rica
Suyai
Arco Sul
Lavra Velha
Agua de la Falda
In addition to Agua Rica,
ownership in a portfolio of
projects which provide a pipeline
of opportunities to advance and
increase value including:
Monument Bay
Agua de la Falda
Suyai
Don Sixto
Arco Sul
Lavra Velha
Don Sixto
Projects
Operating Mines
Projects
13. STRATEGIC ASSETS
OWNERSHIP INTERESTS
Corporate Summary 13
1. FactSet market data as of September 23, 2019.
2. Indexed returns for LMC converted to USD to compare with gold price.
Initiated a strategy of
investing in early stage
exploration companies.
Targeting America’s
focused companies with
the potential for
significant growth
through exploration
success.
Portfolio of InvestmentsInterest in Leagold Mining
-20%
0%
20%
40%
60%
80%
Jan-19 Apr-19 Jul-19
LMC Gold Price, $/oz
Leagold Mining Analyst Coverage(1) Rating Target Price
BMO Capital Markets Outperform $4.50
CIBC Capital Markets Neutral $3.50
Cormark Securities Overweight $5.50
GMP Securities Buy $3.10
National Bank Financial Sector Perform $3.25
Scotiabank GBM Sector Outperform $3.25
TD Securities Buy $4.50
YTD Share Performance
Leagold continues to deliver its expansion initiatives on plan,
creating value for all stakeholders
(1,2)
14. Corporate Summary 141. FactSet market data as of September 23, 2019.
STRATEGIC ASSETS
FINANCIAL INSTRUMENTS
The Gold Price Instrument is a financial instrument that is monetizable
$5M per year up to $25M, average Gold Price $1450/oz
$10M per year up to $50M, average gold price $1400/oz
$10M per year up to $50M, average gold price $1350/oz
Gold Price after Chapada closing date
The Gold Price Instrument
GoldPrice,$/oz
Up to $125M in payments
based on the price of gold
over the 5 year period from
the Chapada sale close
Present value and
monetizable value would
be less than $125M based
on discounting and forward
gold price
Gold Price Instrument
NSR royalties including:
Suruca
Gualcamayo Oxides
Gualcamayo Deep
Carbonates Project
RDM
Royalties
$100M on development of a
pyrite roaster at Chapada
$30M on declaration of
commercial production of
the Deep Carbonates project
at Gualcamayo
Contingent Payments
(1)
15. Corporate Summary 151. See Cautionary Note Regarding Forward Looking Information.
CATALYSTS
UPCOMING DATES(1)
Upcoming Catalysts Expected
Continue to deliver on production and costs expectations Ongoing
Continue to deliver free cash flow Ongoing
Continue to evaluate strategic assets, delivering value through advancing, developing
and monetizing
Ongoing
Exploration update at El Peñón and Minera Florida Q4 2019
Updated Mineral Reserves and Mineral Resources with optimized LOM plans Q1 2020
Results of Jacobina pre-feasibility study Q1 2020
East Malartic and Odyssey internal study Q1 2020
Agua Rica feasibility study completed 2020
16. WHAT ARE OUR PRINCIPLES
Corporate Summary 16
Sustainable mining and development with focus on
community, environmental support, health and safety
Strong operational performance with focus on
optimizations, effective mine plans
Capital discipline on investment and mine development
Focused on mining friendly jurisdictions
Maintaining financial flexibility
Reducing risk across all measures
Increasing shareholder returns
Maintaining and increasing dividends
Financial flexibility is a core value and of strategic importance toward delivery of
operational excellence, production growth and returns and value to shareholders
17. SIGNIFICANT VALUE PROPOSITION
RE-RATING OPPORTUNITY
Corporate Summary 17
1. Based on FactSet Consensus estimates as of October 3, 2019. Peer group includes: Agnico Eagle, Alamos Gold, B2 Gold, Barrick Gold, Detour Gold
IAMGOLD, Kinross Gold, Kirkland Lake Gold, Newmont Goldcorp
Multiple Re-Rating Opportunity
1. Sustainable, strong cash flows from stable
mining jurisdictions
2. Increasing production adding to a
proportionally greater increase in cash flows
3. Strong contribution to cash flow from
Canadian Malartic attracts a higher multiple
for our partner than us although for the same
cash flow
4. Recent meaningful improvements to balance
sheet will attract a higher multiple
5. Modest expansionary capital requirements
means more free cash flow resulting from
sustainable and increasing operating cash flow
Yamana
Peer
Group
Average
Highest
Multiple
Peers
0x
3x
6x
9x
12x
Price to 2020E Cash Flow per Share
18. APPENDIX
TABLE OF CONTENTS
Corporate Summary 18
Slide
Responsible Gold Mining Principles 19
Health, Safety, Environment & Community – 2018 Highlights 20
Mine by Mine Overview 21
New Cost Metrics 26
Copper Advanced Sales Program 29
Currency Hedging 30
Second Quarter Review 31
Mineral Reserve and Mineral Resource Estimates 34
19. RESPONSIBLE GOLD MINING PRINCIPLES
ADVANCING TOWARDS FULL COMPLIANCE
An over-arching framework that
sets out clear expectations as to
what constitutes responsible gold
mining.
Designed to provide confidence to
investors and supply chain
participants that gold has been
produced responsibly.
Implementing companies will be
required to publicly disclose
conformance and obtain external
assurance on this.
Reflects the commitment of the
world’s leading gold mining
companies to responsible mining.
Corporate Summary 19
20. HEALTH, SAFETY, ENVIRONMENT & COMMUNITY
2018 HIGHLIGHTS
Corporate Summary 20
20%
Reduction in TRIR
94%
Host Country
Procurement Rate
99%
Workforce from
Host Countries
21. CANADIAN MALARTIC
SIGNIFICANT PRODUCTION AND CASH FLOWS
CANADIAN MALARTIC CANADA
50% Yamana Owned
21
1. A non-GAAP measure, additional line item or subtotal. As of December 31, 2018, further details including tonnes, grade and assumptions are presented in the Company’s press release issued on February 14, 2019. Please refer to the mineral reserves and mineral resources estimates commencing on slide 33.
2. Measured and Indicated mineral resources are exclusive of Proven and Probable mineral reserves, please refer to the mineral reserves and mineral resources Estimates on slide 33.
3. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
4. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
5. 2018 Actuals have been adjusted to reflect the updated methodology. Reconciliations for all non-GAAP financial measures are available at www.yamana.com/Q42018 see section 11 of the Company’s annual 2018 Management’s Discussion & Analysis, which has been filed on SEDAR.
6. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 79.6:1 and 82.5:1 for 2018 and the forecast for 2019 guidance, respectively.
7. See Cautionary Note Regarding Forward Looking Information.
Corporate Summary
50% Basis
Tonnes
(000’s)
Grade
(g/t)
Contained Ounces
(000’s)
Total Proven and Probable Mineral Reserves(2)
Gold 78,829 1.10 2,780
Total Measured and Indicated Mineral Resources(2,3,4)
Gold 15,500 1.74 869
Inferred Mineral Resources(2,3,4)
Gold 36,210 1.99 2,319
50% Basis
Q3 2018 Q4 2018 Q1 2019 Q2 2019
Gold Production (oz) 88,603 84,732 83,670 84,311
Cost of Sales per GEO
Sold ($/GEO)
- - 1,036 961
Cash Cost per GEO Sold
($/GEO)
- - 602 568
AISC per GEO Sold
($/GEO)
- - 716 757
Sustaining Capital ($M) 10.9 11.4 7.4 9.8
Exploration Capital ($M) 0.9 0.4 0.3 0.3
Expansion Capital ($M) 8.7 8.9 7.7 8.9
2018
2019E
Guidance(7)
348,600 330,000
967 965
573 560
732 730
46.4 47.0
4.3 2.0
31.4 37.0
Gold
Open Pit Mine
(1,5,6)
(1,5,6)
(6)
22. JACOBINA
LONGER TERM SUSTAINABLE PRODUCTION
JACOBINA BRAZIL
100% Yamana Owned
22
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
2. As of June 30, 2019, further details including tonnes, grade and assumptions are presented in the Company’s press release issued on September 5, 2019. Please refer to the mineral reserves and mineral resources estimates commencing on slide 33.
3. Measured and Indicated mineral resources are exclusive of Proven and Probable mineral reserves, please refer to the mineral reserves and mineral resources estimates on slide 33.
4. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
5. 2018 Actuals have been adjusted to reflect the updated methodology. Reconciliations for all non-GAAP financial measures are available at www.yamana.com/Q42018 see section 11 of the Company’s annual 2018 Management’s Discussion & Analysis, which has been filed on SEDAR.
6. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 79.6:1 and 82.5:1 for 2018 and the forecast for 2019 guidance, respectively.
7. See Cautionary Note Regarding Forward Looking Information.
Corporate Summary
Tonnes
(000’s)
Grade
(g/t)
Contained Ounces
(000’s)
Total Proven and Probable Mineral Reserves(2)
Gold 29,588 2.40 2,279
Total Measured and Indicated Mineral Resources(2,3,4)
Gold 41,867 2.45 3,292
Inferred Mineral Resources(2,3,4)
Gold 11,998 2.58 995
Q3 2018 Q4 2018 Q1 2019 Q2 2019
Gold Production (oz) 35,368 37,071 38,617 38,951
Cost of Sales per GEO Sold
($/GEO)
- - 1,077 1,019
Cash Cost per GEO Sold
($/GEO)
- - 637 674
AISC per GEO Sold
($/GEO)
- - 831 921
Sustaining Capital ($M) 8.2 5.1 3.4 6.3
Exploration Capital ($M) 1.3 1.7 1.0 1.1
Expansion Capital ($M) 3.3 9.4 10.4 4.7
2018 2019E Guidance(7)
144,695 152,000
967
1,005
675
700
891
890
21.0 21.0
5.9 8.0
20.6 28.0
Gold
Complex of Underground Mines
(1,5,6)
(1,5,6)
(6)
23. CERRO MORO
CONTRIBUTING TO A STEP CHANGE IN CASH FLOWS
CERRO MORO ARGENTINA
100% Yamana Owned
23
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
2. As of December 31, 2018, further details including tonnes, grade and assumptions are presented in the Company’s press release issued on February 14, 2019. Please refer to the mineral reserves and mineral resources estimates commencing on slide 33.
3. Measured and Indicated mineral resources are exclusive of Proven and Probable mineral reserves, please refer to the mineral reserves and mineral resources Estimates on slide 33.
4. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
5. 2018 Actuals have been adjusted to reflect the updated methodology. Reconciliations for all non-GAAP financial measures are available at www.yamana.com/Q42018 see section 11 of the Company’s annual 2018 Management’s Discussion & Analysis, which has been filed on SEDAR.
6. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 79.6:1 and 82.5:1 for 2018 and the forecast for 2019 guidance, respectively.
7. See Cautionary Note Regarding Forward Looking Information.
Corporate Summary
Tonnes (000’s) Grade (g/t) Contained Ounces (000’s)
Total Proven and Probable Mineral Reserves(2)
Gold 1,809 11.61 675
Silver 1,809 652.6 37,959
Total Measured and Indicated Mineral Resources(2,3,4)
Gold 1,241 5.22 208
Silver 1,241 393.5 15,704
Inferred Mineral Resources(2,3,4)
Gold 1,706 3.84 211
Silver 1,706 257.8 14,139
Q3 2018 Q4 2018 Q1 2019 Q2 2019
Production
(oz)
Gold 38,083 45,066 38,471 29,643
Silver 1,656,550 2,077,906 2,021,489 1,328,251
Cost of Sales per GEO sold ($/GEO) - - 1,215 1,188
Cash Cost per GEO sold ($/GEO) - - 701 677
AISC per GEO sold ($/GEO) - - 841 836
Sustaining Capital ($M) 5.6 9.4 2.2 3.6
Exploration Capital ($M) 3.5 3.0 1.7 5.6
Expansion Capital ($M) - 2.7 0.5 0.4
2018 2019E Guidance(7)
92,793 130,000
4,119,085 6,000,000
1,096 1,240
629 690
848 890
15.0 28.0
11.3 15.0
61.3 2.0
Gold-Silver
Open Pit and Underground
(1,5,6)
(1,5,6)
(6)
24. EL PEÑÓN
DELIVERING QUALITY PRODUCTION
EL PEÑÓN CHILE
100% Yamana Owned
24
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
2. As of December 31, 2018, further details including tonnes, grade and assumptions are presented in the Company’s press release issued on February 15, 2019.
3. Measured and Indicated mineral resources are exclusive of Proven and Probable mineral reserves, please refer to the mineral reserves and mineral resources estimates commencing on slide 33.
4. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
5. 2018 Actuals have been adjusted to reflect the updated methodology. Reconciliations for all non-GAAP financial measures are available at www.yamana.com/Q42018 see section 11 of the Company’s annual 2018 Management’s Discussion & Analysis, which has been filed on SEDAR.
6. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 79.6:1 and 82.5:1 for 2018 and the forecast for 2019 guidance, respectively.
7. See Cautionary Note Regarding Forward Looking Information.
Corporate Summary
Tonnes (000’s) Grade (g/t) Contained Ounces (000’s)
Total Proven and Probable Mineral Reserves(2)
Gold 5,478 4.55 800
Silver 5,478 141.3 24,893
Total Measured and Indicated Mineral Resources(2,3,4)
Gold 2,830 4.35 396
Silver 2,830 141.8 12,904
Inferred Mineral Resources(2,3,4)
Gold 16,719 1.74 933
Silver 16,719 60.6 32,570
Q3 2018 Q4 2018 Q1 2019 Q2 2019
Production
(oz)
Gold 35,746 37,956 34,025 34,646
Silver 892,461 1,186,789 994,809 843,585
Cost of Sales per GEO sold ($/GEO) - - 1,328 1,394
Cash Cost per GEO sold ($/GEO) - - 816 917
AISC per GEO sold ($/GEO) - - 1,081 1,287
Sustaining Capital ($M) 7.3 7.4 6.8 7.9
Exploration Capital ($M) 5.5 4.7 3.9 5.7
Expansion Capital ($M) - 1.0 - 0.2
2018 2019E Guidance(7)
151,893 150,000
3,903,961 4,000,000
1,314 1,100
851 800
1,117 1,050
31.8 27.0
17.9 17.0
1.1 2.0
Gold-Silver
Underground Mine
(1,5,6)
(1,5,6)
(6)
25. MINERA FLORIDA
TRANSITIONING TO HIGHER GRADE ZONES
MINERA FLORIDA CHILE
100% Yamana Owned
25
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
2. As of December 31, 2018, further details including tonnes, grade and assumptions are presented in the Company’s press release issued on February 14, 2019. Please refer to the mineral reserves and mineral resources estimates commencing on slide 33.
3. Measured and Indicated mineral resources are exclusive of Proven and Probable mineral reserves, please refer to the mineral reserves and mineral resources Estimates on slide 33.
4. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
5. 2018 Actuals have been adjusted to reflect the updated methodology. Reconciliations for all non-GAAP financial measures are available at www.yamana.com/Q42018 see section 11 of the Company’s annual 2018 Management’s Discussion & Analysis, which has been filed on SEDAR.
6. Gold equivalent ounces (“GEO”) include gold plus silver at a ratio of 79.6:1 and 82.5:1 for 2018 and the forecast for 2019 guidance, respectively.
7. See Cautionary Note Regarding Forward Looking Information.
Corporate Summary
Tonnes
(000’s)
Grade
(g/t)
Contained Ounces
(000’s)
Total Proven and Probable Mineral Reserves(2)
Gold 4,449 2.82 404
Total Measured and Indicated Mineral Resources(2,3,4)
Gold 5,036 5.05 817
Inferred Mineral Resources(2,3,4)
Gold 6,445 5.01 1,038
Q3 2018 Q4 2018 Q1 2019 Q2 2019
Gold Production (oz) 21,909 24,526 19,654 16,293
Cost of Sales per GEO Sold
($/GEO)
- - 1,206 1,396
Cash Cost per GEO Sold
($/GEO)
- - 832 890
AISC per GEO Sold ($/GEO) - - 1,208 1,299
Sustaining Capital ($M) 3.6 4.4 3.0 3.3
Exploration Capital ($M) 3.3 3.9 2.9 2.1
Expansion Capital ($M) 15.6 10.5 2.6 2.8
2018 2019E Guidance(7)
81,635 85,000
1,398 1,225
917 760
1,327 990
14.5 14.0
14.0 5.0
32.2 10.0
Gold-Silver
Underground Mine
(1,5,6)
(1,5,6)
(6)
26. NEW COST METRIC
BRIDGING OUR OLD AND NEW REPORTING
Corporate Summary 26
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at
www.yamana.com/Q22019.
With our 2019 Guidance, we have introduced a number of changes to the reporting of our
non-GAAP financial measures for periods after January 1, 2019:
• Production
• Silver ounces will now be treated as gold equivalent ounces (“GEO”)
• GEO will be based on an average realized gold-to-silver price ratio for the quarter. H2 2019
guidance uses an assumed ratio of 93:1
• Cash Costs(1)
• Now calculated on a per GEO sold basis
• New metric more closely aligns with GAAP financial measures. Equal to Cost of Sales excluding
Depletion, depreciation, and amortization (“DD&A”), net of treatment and refining charges
• All-in Sustaining Costs (“AISC”) (1)
• Now calculated on a per GEO sold basis
• Changes to metric result from the adoption of the recently updated Guidance Note from the
World Gold Council. Notable additions include capitalized exploration spending, closure related
expenses, and stock-based compensation
27. NEW AISC COST METRIC
CERRO MORO AS AN EXAMPLE
Corporate Summary 27
1. See Press Release from February 15, 2018, entitled “Yamana Gold Provides 2018-2020 Outlook” for prior guidance.
2. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
3. See Cautionary Note Regarding Forward Looking Information.
$650/oz
Gold
+$40
+$74 -$4
$760/GEO
+$130
$890/GEO
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
Prior 2019 Co-
Product
AISC/Oz
Produced
Guidance(1,2)
Historical
Bocamina
Sales Tax
Exploration
CAPEX
Others New
Argentina
Export Tax
New 2019
AISC/GEO
Sold(2,3)
CerroMoro
Change in Accounting Treatment/Reclassification Items
Change in Accounting Treatment items do
not affect cash flow and FCF of the asset
Export tax of ~$30M per year is manageable,
ends in 2020, and greater than our fiscal
stability agreement which is being discussed
with Argentinean government
28. NEW CASH COST METRIC
MORE CLOSELY ALIGNS WITH GAAP REPORTING
Corporate Summary 28
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at
www.yamana.com/Q42018.
2. See Cautionary Note Regarding Forward Looking Information.
$690/GEO Sold
+$550/GEO
$1,240/GEO
Sold
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
2019 Cash Costs(1) per GEO
sold Cerro Moro Guidance
DDA per GEO sold 2019 Cost of Sales per GEO sold
Cerro Moro Guidance (3)
CerroMoro
Non-cash DDA does not impact cash flow or FCF of
the mine; strategic target of adding 1M GEO to
mineral inventory will reduce DDA/GEO
29. COPPER ADVANCED SALES PROGRAM
DELIVERIES COMPLETED IN Q2
29
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q42018.
2. For illustration purposes only; the Company intends to provide information each subsequent period reflecting the impact due to copper advanced sales program over its term.
(In millions)
March 31,
2018
June 30,
2018
September 30,
2018
December 31,
2018
March 31,
2019E(2)
June 30,
2019E(2)
Cumulative
Expected
Impact
Copper pounds to be
delivered per contract
(millions)
13.2 10.7 8.2 8.2 40.3
Cash flows from
operating activities
before net change in
working capital(1)
$206.4 $157.5 $86.6 $115.8 $113.2 $156.0 -
Impact due to copper
advanced sales program
(125.0) - 41.7 33.3 25.1 24.9 -
Cash flows from
operating activities
before net change in
working capital,
normalized for the
copper advanced sales
program(1)
$81.4 $157.5 $128.3 $149.1 $128.3 $180.9 -
Corporate Summary
30. CURRENCY TAILWINDS
FOREIGN EXCHANGE BENEFITS
Corporate Summary 301. Evenly split by month.
Key Currencies vs USD
Zero Cost Collar Contracts:
Forward Contracts:
July 2019 – December 2019, CLP 30.96B(1) at a weighted average forward rate of CLP 652.42 per USD, expected to cover ~50% of
CLP denominated operating costs.
Average call price Average put strike price Total
BRL to USD
July 2019 to December 2019 R$3.75 R$4.75 R$192.0 million
January 2020 to December 2020 R$3.90 R$4.45 R$59.7 million
(1)
-70%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19
ARS BRL CAD CLP
31. SECOND QUARTER
OPERATIONAL HIGHLIGHTS
Corporate Summary 31
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at
www.yamana.com/Q22019.
2. Gold equivalent ounces include gold plus silver at a ratio of 87.98:1 for Q2 2019.
Production Q2 2019
Total Gold Equivalent Production, in thousands of ounces(2) 258
Total Gold Equivalent Sales, in thousands of ounces(2) 294
Gold Production, in thousands of ounces 233
Gold Sales, in thousands of ounces 256
Silver Production, in millions of ounces 2.2
Silver Sales, in millions of ounces 3.3
Copper Production, in millions of pounds 31.2
Copper Sales, in millions of pounds 30.7
Costs Q2 2019
Cost of Sales per GEO sold $1,076
Cash costs per GEO sold(1) $670
AISC per GEO sold(1) $941
32. FINANCIAL PERFORMANCE
SECOND QUARTER HIGHLIGHTS
32
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q22019.
2. Attributable to Yamana equity holders.
3. Certain non-cash and other items that may not be reflective of current and ongoing operations were $5.7 million or $0.01 per share for Q2 2019.
(In millions except per share figures) Q2 2019 Q2 2018 Change
Revenue $463.5 $435.7 $27.8
Gross margin excluding DD&A $219.4 $197.4 $22.0
DD&A $122.4 $93.9 $28.5
G&A expense $16.8 $23.9 $(7.1)
Net earnings(2) $14.1 $18.0 $(3.9)
Net earnings per share(2) $0.01 $0.02 $(0.01)
Adjusted earnings per share(1,2,3) $0.02 $0.05 $(0.03)
Sustaining capital $43.7 $43.7 $0.0
Expansionary capital $26.0 $41.0 $(15.0)
Exploration capitalized/expensed $16.5/$2.7 $19.3/$3.2 $(2.8)/$(0.5)
Corporate Summary
33. FINANCIAL PERFORMANCE
SECOND QUARTER HIGHLIGHTS
33
1. A non-GAAP measure, additional line item or subtotal. A reconciliation of the IFRS measure to the non-GAAP measure can be found at www.yamana.com/Q22019.
2. Cash flows from operating activities for the three months ended June 30, 2019 include the impact of $32.8 million in non-cash deferred revenue recognized in respect of metal sales agreements and other, including $26.6
million associated with the copper advanced sales program.
3. A cautionary note regarding non-GAAP performance measures is included in Section 10: Non-GAAP Performance Measures. The $13.1 million reduction in net debt for the period includes cash and cash equivalents classified
as held for sale of $3.8 million.
(In millions) Q2 2019 Q2 2018 Change
Cash flows from operating activities $147.6 $102.4 $45.2
Cash flows from operating activities before net change in working capital(1) $156.0 $157.5 $(1.5)
Cash flows from operating activities before net change in working capital and
adjusted deferred revenue relating to the copper advanced sales program(1,2) $180.9 $157.5 $23.4
Corporate Summary
NET DEBT(3) DECREASED BY $13.1 MILLION
FREE CASH FLOW(1) BEFORE DIVIDEND AND DEBT REPAYMENTS DURING THE QUARTER WAS
$51.2 MILLION
34. MINERAL RESERVES AND MINERAL RESOURCES ESTIMATES
SUMMARY(1)
Corporate Summary 341. As of December 31, 2018. All Mineral Resources are exclusive of Mineral Reserves. Mineral reserves and mineral resource totals include Chapada
which was subsequently sold and exclude Agua Rica.
Tonnes (000s) Grade (g/t) Contained oz. (000s)
Gold 865,653 0.45 12,496
Silver 11,736 174.5 65,828
Tonnes (000s) Grade (%) Contained lbs (M)
Copper 673,357 0.25 3,784
Tonnes (000s) Grade (g/t) Contained oz. (000s)
Gold 771,033 0.64 15,941
Silver 13,807 84.1 37,317
Tonnes (000s) Grade (%) Contained lbs (M)
Copper 277,649 0.22 2,090
Tonnes (000s) Grade (g/t) Contained oz. (000s)
Gold 333,516 0.95 10,162
Silver 25,770 64.4 53,377
Tonnes (000s) Grade (%) Contained lbs (M)
Copper 156,928 0.23 785
Measured and Indicated Mineral Resources
Inferred Mineral Resources
Proven and Probable Mineral Reserves
35. PROVEN AND PROBABLE MINERAL RESERVES
AS OF DECEMBER 31, 2018(1)
Corporate Summary 35
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Go ld (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Alumbrera (12.5%) 8,435 0.39 106 294 0.37 4 8,728 0.39 109
Canadian M alartic (50%) 23,029 0.89 658 55,799 1.18 2,122 78,829 1.10 2,780
Cerro M oro 43 10.57 15 1,766 11.64 661 1,809 11.61 675
Chapada Zones 388,701 0.17 2,103 275,928 0.16 1,381 664,629 0.16 3,484
Suruca Zones 11,454 0.42 153 53,741 0.53 908 65,195 0.51 1,062
Total Chapada 400,155 0.18 2,256 329,669 0.22 2,289 729,824 0.19 4,546
El Peñón Ore 693 5.11 114 3,738 5.38 646 4,431 5.33 760
El Peñón Stockpiles 17 2.41 1 1,029 1.18 39 1,047 1.20 40
Total El Peñón 710 5.04 115 4,768 4.47 685 5,478 4.55 800
Jacobina 18,565 2.32 1,385 9,290 2.39 714 27,855 2.34 2,099
Jeronimo (57%) 6,350 3.91 798 2,331 3.79 284 8,681 3.88 1,082
M inera Florida Ore 690 3.61 80 2,512 3.54 286 3,202 3.56 366
M inera Florida Tailings 0 0.00 0 1,248 0.94 38 1,248 0.94 38
Total M inera Florida 690 3.61 80 3,760 2.68 324 4,449 2.82 404
T o tal Go ld M ineral R eserves 457,977 0.37 5,413 407,677 0.54 7,083 865,653 0.45 12,496
Agua Rica 587,200 0.25 4,720 517,600 0.16 2,663 1,104,800 0.21 7,382
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Silver (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Cerro M oro 43 620.7 857 1,766 653.3 37,102 1,809 652.6 37,959
El Peñón Ore 693 166.1 3,700 3,738 171.7 20,630 4,431 170.8 24,330
El Peñón Stockpiles 17 107.2 60 1,029 15.2 502 1,046 16.7 562
Total El Peñón 710 164.7 3,760 4,768 137.9 21,133 5,478 141.3 24,893
M inera Florida Ore 690 28.1 623 2,512 21.9 1,770 3,202 23.2 2,393
M inera Florida Tailings 0 0.0 0 1,248 14.6 584 1,248 14.6 584
Total M inera Florida 690 28.1 623 3,760 19.5 2,353 4,449 20.8 2,976
T o tal Silver M ineral R eserves 1,443 112.9 5,240 10,294 183.1 60,588 11,736 174.5 65,828
Agua Rica 587,200 3.02 57,014 517,600 2.63 43,766 1,104,800 2.84 100,781
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
C o pper (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 8,435 0.40 74 294 0.39 3 8,728 0.40 77
Chapada Zones 388,701 0.25 2,138 275,928 0.26 1,568 664,629 0.25 3,707
Suruca Zones 0 0.00 0 0 0.00 0 0 0.00 0
Total Chapada 388,701 0.25 2,138 275,928 0.26 1,568 664,629 0.25 3,707
T o tal C o pper M ineral R eserves 397,136 0.25 2,212 276,222 0.26 1,571 673,357 0.25 3,784
Agua Rica 587,200 0.57 4,779 517,600 0.43 4,450 1,104,800 0.48 11,829
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Z inc (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
M inera Florida Ore 690 1.53 23 2,512 1.13 62 3,202 1.21 85
M inera Florida Tailings 0 0.00 0 1,248 0.58 16 1,248 0.58 16
T o tal Z inc M ineral R eserves 690 1.53 23 3,760 0.94 78 4,449 1.04 102
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
M o lybdenum (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 8,435 0.013 2.45 294 0.014 0.09 8,728 0.013 2.54
T o tal M o ly M ineral R eserves 8,435 0.013 2.45 294 0.014 0.09 8,728 0.013 2.54
Agua Rica 587,200 0.03 279 517,600 0.03 342 1,104,800 0.03 731
P ro ven M ineral R eserves P ro bable M ineral R eserves T o tal P ro ven & P ro bable
1. Mineral Reserves and Mineral Resources are reported as of December 31, 2018, except Agua Rica where Mineral Reserves and Mineral Resources are
reported as of June 30, 2019.
36. MEASURED, INDICATED AND INFERRED MINERAL RESOURCES
AS OF DECEMBER 31, 2018(1)
Corporate Summary 36
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Go ld (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Alumbrera (12.5%) 6,792 0.39 85 1,917 0.54 33 8,709 0.42 118 848 0.46 13
Arco Sul 0 0.00 0 0 0.00 0 0 0.00 0 5,000 4.02 646
Canadian M alartic (50%) 1,885 1.36 83 13,615 1.80 786 15,500 1.74 869 36,210 1.99 2,319
Cerro M oro 18 10.83 6 1,224 5.14 202 1,241 5.22 208 1,706 3.84 211
Chapada Zones 58,885 0.12 222 363,929 0.14 1,676 422,814 0.14 1,898 156,081 0.08 422
Suruca Zones 1,284 0.39 16 81,039 0.54 1,416 82,323 0.54 1,432 12,565 0.48 194
Total Chapada 60,169 0.12 238 444,968 0.22 3,092 505,137 0.21 3,330 168,646 0.11 616
El Peñón M ine 232 8.02 60 1,579 5.88 298 1,811 6.15 358 2,953 7.25 689
El Peñón Tailings 0 0.00 0 0 0.00 0 0 0.00 0 13,767 0.55 245
El Peñón Stockpiles 0 0.00 0 1,019 1.13 37 1,019 1.13 37 0 0.00 0
El Peñón Total 232 8.04 60 2,598 4.02 336 2,830 4.35 396 16,719 1.74 933
Jacobina 24,999 2.48 1,994 15,711 2.45 1,238 40,710 2.47 3,232 12,145 2.58 1,008
Jeronimo (57%) 772 3.77 94 385 3.69 46 1,157 3.74 139 1,118 4.49 161
La Pepa 15,750 0.61 308 133,682 0.57 2,452 149,432 0.57 2,760 37,900 0.50 620
Lavra Velha 0 0.00 0 0 0.00 0 0 0.00 0 3,934 4.29 543
M inera Florida 1,207 5.87 228 3,829 4.79 590 5,036 5.05 817 6,445 5.01 1,038
M onument Bay 0 0.00 0 36,581 1.52 1,787 36,581 1.52 1,787 41,946 1.32 1,781
Suyai 0 0.00 0 4,700 15.00 2,286 4,700 15.00 2,286 900 9.90 274
T o tal Go ld M ineral R eso urces 111,823 0.86 3,095 659,210 0.61 12,849 771,033 0.64 15,941 333,516 0.95 10,162
Agua Rica 53,600 0.13 224 206,300 0.11 730 259,900 0.11 954 742,900 0.09 2,150
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Silver (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Cerro M oro 18 1,253.0 707 1,224 381.2 14,997 1,241 393.5 15,704 1,706 257.8 14,139
El Peñón M ine 232 194.6 1,450 1,579 207.1 10,512 1,811 205.4 11,962 2,953 254.8 24,190
El Peñón Tailings 0 0.0 0 0 0.0 0 0 0.0 0 13,767 18.9 8,380
El Peñón Stockpiles 0 0.0 0 1,019 28.8 942 1,019 28.8 942 0 0.0 0
El Peñón Total 232 194.6 1,450 2,598 137.1 11,454 2,830 141.8 12,904 16,719 60.6 32,570
M inera Florida 1,207 41.0 1,592 3,829 29.2 3,594 5,036 32.0 5,186 6,445 29.4 6,093
Suyai 0 0.0 0 4,700 23.0 3,523 4,700 23.0 3,523 900 21.0 575
T o tal Silver M ineral R eso urces 1,457 80.1 3,749 12,351 84.5 33,568 13,807 84.1 37,317 25,770 64.4 53,377
Agua Rica 53,600 1.55 2,671 206,300 1.80 12,337 259,900 1.80 15,008 742,900 1.62 38,693
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
C o pper (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 6,792 0.37 55 1,917 0.24 10 8,709 0.34 65 848 0.21 4
Chapada Zones 58,885 0.20 261 363,929 0.22 1,765 422,814 0.22 2,025 156,081 0.23 781
Suruca Zones 0 0.00 0 0 0.00 0 0 0.00 0 0 0.00 0
Total Chapada 58,885 0.20 261 363,929 0.22 1,765 422,814 0.22 2,025 156,081 0.23 781
T o tal C o pper M ineral R eso urces 65,676 0.22 316 365,846 0.22 1,775 431,522 0.22 2,090 156,928 0.23 785
Agua Rica 53,600 0.22 260 206,300 0.30 1,364 259,900 0.28 1,624 742,900 0.23 3,767
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Z inc (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
M inera Florida 1,207 2.22 62 3,829 1.63 138 5,036 1.77 197 6,445 1.32 187
T o tal Z inc M ineral R eso urces 1,207 2.22 62 3,829 1.63 138 5,036 1.77 197 6,445 1.32 187
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
M o lybdenum (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 6,192 0.014 1.94 462 0.013 0.13 6,654 0.014 2.07 85 0.014 0.03
T o tal M o ly M ineral R eso urces 6,192 0.014 1.94 462 0.013 0.13 6,654 0.014 2.07 85 0.014 0.03
Agua Rica 53,600 0.02 24 206,300 0.03 136 259,900 0.03 160 742,900 0.03 491
Inferred M ineral R eso urcesM easured M ineral R eso urces Indicated M ineral R eso urces T o tal M easured & Indicated
1. Mineral Reserves and Mineral Resources are reported as of December 31, 2018, except Agua Rica where Mineral Reserves and Mineral Resources are
reported as of June 30, 2019.
37. Corporate Summary 37
Yamana Gold Inc. Mineral Reserve and Mineral Resource Reporting Notes:
Mine Mineral Reserves Mineral Resources
Alumbrera Projects
(12.5%)
Alumbrera Deposit Price assumption: $1,250 gold, $2.91 copper Price assumption: $1,250 gold, $2.95 copper.
Underground cut-off at 0.5% copper equivalent Underground cut-off at 0.43% copper equivalent
Metallurgical recoveries average 87.85% for copper and 72.31% for gold
Bajo El Durazno
Deposit
N/A Price assumption: $1,250 gold, $2.95 copper.
0.74 g/t Aueq cutoff within underground economic envelope
Arco Sul N/A Price assumption: $1,500 gold
2.5 g/t Au cutoff
Canadian Malartic
(50%)
Price assumption: $1,200 gold Price assumption: $1,200 gold
Open pit cut-off grades range from 0.374 to 0.384 g/t Au
Cut-off grades range from 0.35 g/t Au inside pit to 1.0 g/t Au outside
or below pit
Metallurgical recoveries for gold range from 87% to 96.7% depending on
zone
Underground Cut-off grade at Odyssey is 1.15 g/t Au (stope optimized)
and at East Malartic Underground is 1.25 g/t Au (stope optimized)
Cerro Moro Price assumption: $1,250 gold and $18.00 silver Price assumption: $1,600 gold and $24.00 silver
Open pit cut-off at 3.27 g/t gold and Underground cut-off at 5.71 g/t
gold
3.0 g/t Aueq cut-off
Metallurgical recoveries average 95% for gold and 93% for silver
Chapada
Chapada Zone Price assumption: $1,250 gold, $3.00 copper Price assumption: $1,600 gold , $4.00 copper
Open pit cut-off at $4.06/t (Main Pit, Corpo Sul, Cava Norte and
Sucupira)
Open pit cut-off at $4.06/t (Chapada pits and Suruca SW)
Metallurgical recoveries at Chapada are dependent on zone and average
83.11% for copper and 56.94% for gold.
Metallurgical recoveries at Chapada are dependent on zone and average
83.11% for copper and 56.94% for gold.
Suruca Zone Price assumption: $1,300 gold Price assumption: $1,600 gold
Cut-off grade 0.19 g/t gold for Suruca oxide. Cut-off grade 0.16 g/t gold for Suruca oxide.
Cut-off grade 0.3 g/t gold for Suruca sulfide. Cut-off grade 0.23 g/t gold for Suruca sulphide.
Metallurgical recoveries for Suruca oxide average 85% for gold. Metallurgical recoveries for Suruca oxide average 85% for gold.
Metallurgical recoveries for Suruca sulphide average 88% for gold. Metallurgical recoveries for Suruca sulphide average 88% for gold.
El Peñón Price Assumption:$1,250 gold, $18.00 silver, Price Assumption:$1,600 Au, $24.00 Ag,
Open Pit cut-off at 1.75 g/t gold equivalent
Underground cut-off at 2.78 g/t gold equivalent except for Pampa Agusta
Victoria (2.88 g/t), Chiquilla Chica (2.87 g/t), Laguna (2.85 g/t )
Underground cut-off ranging from 3.57 g/t gold equivelent to 3.70 g/t
gold equevalent
and Fortuna-Dominador zones (2.84 g/t). Mill recoveries of 95% and 86.5%
used for Mineral Resource Estimation
Low grade stockpiles cut-off 0.95 g/t gold equivalent
Mineral Resources contained in tailings and stockpiles reported at cut-
offs of 05.0 g/t and 0.79 g/t gold equivalent respectively
Metallurgical recoveries for open pit ores range from 89.0% to 95.6%
for gold and from 80.7% to 97.7% for silver
Metallurgical recoveries range from 87.2% to 99.0% for gold and from
59.8% to 92.6% for silver
Metallurgical recoveries for underground ores range from 87.2% to 99.0%
for gold and from 59.8% to92.6% for silver
Metallurgical recoveries for tailings estimated to be 60% for gold and
30% for silver
Metallurgical recoveries for low grade stockpiles are 95.2% for gold
and 83.0% for silver
Metallurgical recoveries forstockpiles estimated to be 88.0% for gold
and 80.8% for silver
38. Corporate Summary 38
Yamana Gold Inc. Mineral Reserve and Mineral Resource Reporting Notes:
Mine Mineral Reserves Mineral Resources
Jacobina Price assumptions: $1,250 gold Price assumptions: $1600 gold
Underground cut-off grade is 1.20 g/t gold
Underground cut-off grade is 1.0 g/t gold with a minimum mining width of
1.5 meters
Metallurigical recovery is 96%
Jeronimo (57%) Price Assumption:$900 Au
Cut-off grade at 2.0 g/t gold Cut-off grade at 2.0 g/t gold
Metallurgical recovery for Au is 86%.
La Pepa N/A Price Assumption: $780 Au
cut-off grade at 0.30 g/t gold
Lavra Velha N/A Price assumption: $1,300 gold and $3.50 copper
cut-off grade at 0.2g/t gold and 0.1% copper
Minera Florida Price assumption: $1,250/oz gold, $18.00/oz silver and $1.25/lb Zn. Price assumption: $1,250/oz gold, $18.00/oz silver and $1.25/lb Zn.
Underground cut-offs for Las Petaguas Zone USD90.75/t and for the Core
Mine Zones USD94.79/t
Underground cut-off grade is 2.50 g/t gold
Metallurgical recoveries are 90.16% for gold, 52.31% for silver and
68.80% for zinc
Metallurgical recoveries are 90.16% for gold, 52.31% for silver and
68.80% for zinc
Monument Bay N/A Price Assumption: $1,200 Au
Cut-off grades are 0.4 g/t gold aand 0.7 g/t gold for the open pits and
4.0 g/t gold for underground
Suyai N/A 5.0 g/t Au cut-off inside mineralized wireframe modeling
Agua Rica Open pit mineral reserves are reported at a variable cut off value,
which averages $8.42/t. The cut off value is based on metal assumptions
of $3.00/lb for copper, $1,250/oz for gold, $18.00/oz for silver, and
$11.00/lb for molybdenum. A life of mine average open pit costs of
$1.72/t moved, processing and G&A cost of $6.70/t of run of mine
processed. The strip ratio of the mineral reserves is 1.66 with overall
slope angles varying from 39 to 45 degrees depending on the geotechnical
sector.
Mineral resources are constrained by an optimized pit shell based on a
metal assumption of $4.00/lb for copper, $1,600/oz for gold, $24.00/oz
for silver, and $11.00/lb for molybdenum. Open pit mineral resources are
reported at a variable cut off value, which averages $8.42/t with
overall slope angles varying from 39 to 45 degrees depending on the
geotechnical sector.
1. Mineral reserves and mineral resources are estimated using a variable
metallurgical recovery. A life of mine average metallurgical recoveries
are 86% for copper, 35% for gold, 43% for silver and 44% for molybdenum
were considered.
1. Mineral reserves and mineral resources are estimated using a variable
metallurgical recovery. A life of mine average metallurgical recoveries
are 86% for copper, 35% for gold, 43% for silver and 44% for molybdenum
were considered.
1. Metal Price, Cut-off Grade, Metallurgical Recovery
Canadian Malartic Sylvie Lampron, Canadian Malartic Corporation Pascal Lehouiller, Canadian Malartic Corporation
Chapada Luiz Pignatari, EDEM Engenharia Felipe Machado de Araújo, Yamana Gold Inc.
El Peñón Sergio Castro, Yamana Gold Inc. Jorge Camacho, Yamana Gold Inc.
2. All Mineral Reserves and Mineral Resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and
3. All Mineral Resources are reported exclusive of Mineral Reserves.
4. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
5. Mineral Reserves and Mineral Resources are reported as of December 31, 2018, except Agua Rica where Mineral Reserves and Mineral Resources are reported as of June
6. For the qualified persons responsible for the Mineral Reserve and Mineral Resource estimates, see the qualified persons list below.
Property Qualified Persons for Mineral Reserves Qualified Persons for Mineral Resources
39. JACOBINA MINERAL RESERVES AND MINERAL RESOURCES
UPDATED AS OF JUNE 30, 2019
Corporate Summary 39
M ineral R eserves (Proven and Probable)
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Go ld (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Jacobina 19,451 2.39 1,489 10,173 2.41 790 29,588 2.40 2,279
M ineral R eso urces (M easured, Indicated and Inferred)
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Go ld (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Jacobina 28,781 2.38 2,203 13,086 2.59 1,089 41,867 2.45 3,292 11,998 2.58 995
P ro ven M ineral R eserves P ro bable M ineral R eserves T o tal P ro ven & P ro bable
M easured M ineral R eso urces Indicated M ineral R eso urces T o tal M easured & Indicated Inferred M ineral R eso urces
Yamana Gold Inc. Mineral Reserve and Mineral Resource Reporting Notes:
Mine Mineral Reserves Mineral Resources
Jacobina
The initial design was based on economic cut-off grades by zone, ranging
from 1.12 g/t Au to 1.30 g/t Au. Cut-off grades are estimated using an
average long-term gold price of $1,250 per ounce, and variable operating
costs by zone of between $42.60/t and $49.52/t. Lower grade stopes were
then excluded from the life of mine plan to optimize the cash flow
model. A minimum mining width of 3.0 metres was used. Bulk density
varies from 2.59 t/m3 to 2.68 t/m3. Mineral reserves are stated at a
mill feed reference point and include for diluting material and mining
losses.
Mineral resources are estimated at a cut-off grade of 1.0 g/t of gold
based on a long-term price of $1,500/oz of gold, an average operating
cost of $45.20/tonne, and a total recovery of 96.0%. A minimum mining
width of 1.5 metres was used, and results are reported inclusive of
internal dilution. Composite samples were generated for each respective
mineralized solid. Capping was applied on the composite data.
1. CIM (2014) definitions were followed for mineral reserves and mineral resources.
2. All mineral resources are reported exclusive of mineral reserves.
3. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
4. Mineral reserves and mineral resources are reported as of June 30, 2019.
5. Due to rounding, numbers may not add precisely to the totals.
6. Mineral reserves have been validated by Scott Ladd, (P. Eng.) a full-time employee of RPA Inc. and a Qualified Person as defined by National Instrument 43-101.
Mineral resources have been validated by Reno Pressacco, (P. Geo.) a full-time employee of RPA Inc., and a Qualified Person as defined by National Instrument 43-101.
40. ODYSSEY AND EAST MALARTIC MINERAL RESOURCES
AS OF DECEMBER 31, 2018
Corporate Summary 40
M ineral R eso urces (50% basis)
Tonnes Grade Contained Tonnes Grade Contained
Go ld (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Odyssey
Above 1,000 metres 932 2.11 64 7,019 1.99 449
Below 1,000 metres 77 2.05 5 4,479 2.50 360
T o tal 1,009 2.11 69 11,498 2.19 809
East M alartic
Above 1,000 metres 5,265 2.13 361 22,021 1.98 1,403
Below 1,000 metres 23,695 1.94 1,481
T o tal 5,265 2.13 361 45,716 1.96 2,885
Indicated M ineral R eso urces Inferred M ineral R eso urces
Yamana Gold Inc. Reporting Notes:
Mine Mineral Resources
Odyssey and East
Malartic
Price assumption: $1,200 gold Metallurgical recoveries for gold is 95.5%
1. Mineral resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101.
Cut-off grades range from 0.35 g/t Au inside pit to 1.0 g/t Au outside or below pit
Underground Cut-off grade at Odyssey ranges from 1.15 to 1.30 g/t Au (stope optimized) and at East Malartic Underground ranges from 1.25 to
1.40 g/t Au (stope optimized)
2. Mineral resources are reported exclusive of any mineral reserves.
3. Mineral resources which are not mineral reserves and do not have demonstrated economic viability.
4. Mineral resources are reported as of December 31, 2018. The inferred mineral resource figures at East Malartic below 1,000 metres have not been previously
reported.
5. Results are reported inclusive of internal dilution.
6. Pascal Lehouiller, P.Geo., of Canadian Malartic Corporation is the qualified persons responsible for the mineral resource estimates.
41. Corporate Summary 41
Investor Relations
200 Bay Street, Suite 2200
Toronto, Ontario
M5J 2J3
416-815-0220/1-888-809-0925
investor@yamana.com
www.yamana.com