The document provides an overview of Lundin Gold's virtual non-deal roadshow held on October 19, 2021. It includes standard cautionary language about forward-looking statements and references that actual results could differ from expectations. Key details summarized include:
- Lundin Gold owns the Fruta del Norte gold mine in Ecuador which is in production.
- 2021 production guidance is between 350,000-420,000 ounces of gold at an all-in sustaining cost of $770-$830 per ounce.
- The company is working to expand throughput to 4,200 tonnes per day by the fourth quarter of 2021 and continues exploration drilling and development projects.
Lundin Gold provided a corporate presentation at the Gold Forum Americas 2021 that included the following key points:
- The company is on track to meet its 2021 production guidance of 380,000-420,000 ounces of gold and all-in sustaining costs of $770-$830 per ounce.
- Exploration drilling continues at the Fruta del Norte mine with the goal of expanding resources and discovering another large deposit.
- Construction is progressing on the mill expansion project, which is expected to increase throughput to 4,200 tonnes per day by the fourth quarter of 2021.
- Lundin Gold continues to generate strong cash flows and has a robust balance sheet to fund ongoing operations and projects.
- Lundin Gold held a third quarter 2021 results conference call on November 10, 2021 to discuss strong operational and financial results.
- Production for the quarter was 107,663 ounces of gold, keeping the company on track to meet 2021 guidance of 380,000-420,000 ounces.
- The mill expansion to 4,200 tonnes per day was completed on schedule and on budget.
- Exploration drilling continued during the quarter at the Puente-Princesa target near Fruta del Norte, with initial results expected in Q1 2022.
Lundin Gold beat its 2021 gold production guidance and is providing guidance for 2022 of 405,000 to 445,000 ounces of gold production. The company generated $417.8 million in operating cash flow in 2021 and ended the year with $262.6 million in cash. Lundin Gold also continues exploration drilling and construction of the South Ventilation Raise project, with anticipated completion in Q2 2022. The company's strong cash flow positions it to deliver value to shareholders.
- Lundin Gold held a conference call to discuss its second quarter 2021 results
- The company produced over 108,000 ounces of gold in the first half of 2021 and remains on track to meet its full year guidance of 380,000-420,000 ounces
- Expansion projects continue on schedule, with the mill expected to reach 4,200 tonnes per day throughput in Q4 2021
- Exploration drilling is underway to expand resources at the Fruta del Norte deposit and test new targets, with over 7,000 meters drilled so far in 2021
The document summarizes Lundin Gold's Precious Metals Summit 2021, held November 15-16, 2021. It discusses Lundin Gold's operational excellence, reserve growth, throughput expansion, and exploration activities. Key points include producing 107,663 ounces of gold in Q3 2021, with year-to-date production of 320,599 ounces. Lundin Gold is on track to meet its 2021 production guidance of 380,000-420,000 ounces. It also discusses the company's strong cash position of $221.8 million as of September 30, 2021, ongoing construction projects, and resource expansion and regional exploration drilling programs.
Lundin Gold provided a corporate presentation in June 2021 that included the following key points:
- The company is on track to meet 2021 production guidance of 380,000-420,000 ounces of gold.
- Probable gold reserves at Fruta del Norte increased 5% to 5.24 million ounces.
- Exploration drilling is ongoing to expand resources at Fruta del Norte and test regional targets.
- Construction projects and the mill throughput expansion remain on schedule.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, 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. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five 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 Q2 Results and Corporate Update August 4 2021Equinox Gold Corp.
Equinox Gold provided an operational and financial update for Q2 2021. Key highlights included:
- Producing 122,656 ounces of gold and selling 124,712 ounces at an average realized price of $1,806 per ounce.
- Mine cash costs of $1,089 per ounce and AISC of $1,382 per ounce for the quarter.
- Net income of $325.7 million or $1.10 per share, and adjusted EBITDA of $52.4 million.
- Cash and equivalents of $333.9 million and net debt of $215.6 million at the end of June.
The company also provided an updated 2021 production and
Lundin Gold provided a corporate presentation at the Gold Forum Americas 2021 that included the following key points:
- The company is on track to meet its 2021 production guidance of 380,000-420,000 ounces of gold and all-in sustaining costs of $770-$830 per ounce.
- Exploration drilling continues at the Fruta del Norte mine with the goal of expanding resources and discovering another large deposit.
- Construction is progressing on the mill expansion project, which is expected to increase throughput to 4,200 tonnes per day by the fourth quarter of 2021.
- Lundin Gold continues to generate strong cash flows and has a robust balance sheet to fund ongoing operations and projects.
- Lundin Gold held a third quarter 2021 results conference call on November 10, 2021 to discuss strong operational and financial results.
- Production for the quarter was 107,663 ounces of gold, keeping the company on track to meet 2021 guidance of 380,000-420,000 ounces.
- The mill expansion to 4,200 tonnes per day was completed on schedule and on budget.
- Exploration drilling continued during the quarter at the Puente-Princesa target near Fruta del Norte, with initial results expected in Q1 2022.
Lundin Gold beat its 2021 gold production guidance and is providing guidance for 2022 of 405,000 to 445,000 ounces of gold production. The company generated $417.8 million in operating cash flow in 2021 and ended the year with $262.6 million in cash. Lundin Gold also continues exploration drilling and construction of the South Ventilation Raise project, with anticipated completion in Q2 2022. The company's strong cash flow positions it to deliver value to shareholders.
- Lundin Gold held a conference call to discuss its second quarter 2021 results
- The company produced over 108,000 ounces of gold in the first half of 2021 and remains on track to meet its full year guidance of 380,000-420,000 ounces
- Expansion projects continue on schedule, with the mill expected to reach 4,200 tonnes per day throughput in Q4 2021
- Exploration drilling is underway to expand resources at the Fruta del Norte deposit and test new targets, with over 7,000 meters drilled so far in 2021
The document summarizes Lundin Gold's Precious Metals Summit 2021, held November 15-16, 2021. It discusses Lundin Gold's operational excellence, reserve growth, throughput expansion, and exploration activities. Key points include producing 107,663 ounces of gold in Q3 2021, with year-to-date production of 320,599 ounces. Lundin Gold is on track to meet its 2021 production guidance of 380,000-420,000 ounces. It also discusses the company's strong cash position of $221.8 million as of September 30, 2021, ongoing construction projects, and resource expansion and regional exploration drilling programs.
Lundin Gold provided a corporate presentation in June 2021 that included the following key points:
- The company is on track to meet 2021 production guidance of 380,000-420,000 ounces of gold.
- Probable gold reserves at Fruta del Norte increased 5% to 5.24 million ounces.
- Exploration drilling is ongoing to expand resources at Fruta del Norte and test regional targets.
- Construction projects and the mill throughput expansion remain on schedule.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, 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. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five 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 Q2 Results and Corporate Update August 4 2021Equinox Gold Corp.
Equinox Gold provided an operational and financial update for Q2 2021. Key highlights included:
- Producing 122,656 ounces of gold and selling 124,712 ounces at an average realized price of $1,806 per ounce.
- Mine cash costs of $1,089 per ounce and AISC of $1,382 per ounce for the quarter.
- Net income of $325.7 million or $1.10 per share, and adjusted EBITDA of $52.4 million.
- Cash and equivalents of $333.9 million and net debt of $215.6 million at the end of June.
The company also provided an updated 2021 production and
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.
Silvercorp Metals is a Canadian mining company and China's premier silver producer. It operates three silver-lead-zinc mines in China - the Ying Mining District, GC Mine, and BYP Mine (currently on care and maintenance). Over its 15+ year mine life at the Ying District, Silvercorp has produced 79 million ounces of silver, 1.1 billion pounds of lead and zinc, and distributed $498 million in profits. Silvercorp is focused on organic growth through exploration and expanding existing operations, as well as pursuing acquisition opportunities. It also has strategic investments in other mining companies. The presentation discusses Silvercorp's operating and financial performance, reserves and resources, growth strategy, ESG objectives, and analyst
Calibre Mining Corp is a gold producer with multi-asset production and exploration opportunities in Nicaragua. It operates the Libertad and Limon processing hubs and mining spokes including Pavon Norte, which was brought into production in under 18 months. Calibre aims to grow production organically through near-mill discoveries and expanding emerging districts like Eastern Borosi, which currently hosts an inferred resource of 700,000 ounces of gold. Exploration is ongoing across Calibre's land package of over 2,000 square kilometers to discover new resources that can be fed into the surplus processing capacity at Libertad.
Equinox Gold is a gold producer with mines in the United States, Mexico, Brazil, and an upcoming mine in Canada. It aims to become the premier Americas-focused gold producer through organic growth of existing assets, development projects, and potential M&A opportunities. Key growth projects include the construction of the large Greenstone gold mine in Canada and ongoing expansions at the Los Filos, Castle Mountain, and Aurizona mines. Equinox Gold emphasizes responsible mining practices and creating value for all stakeholders.
Equinox Gold is a gold mining company with 7 producing mines and 2 growth projects. In 2022, it expects to produce 670,000 ounces of gold at an all-in sustaining cost of $1,330-$1,410 per ounce. Key assets include the Los Filos mine in Mexico, the Aurizona and RDM mines in Brazil, and the Mesquite and Castle Mountain mines in the United States. Construction is underway at the Greenstone project in Canada and the Santa Luz project in Brazil, with first gold pour expected in 2024 and Q1 2022, respectively. Equinox Gold aims to responsibly produce over 1 million ounces of gold annually through organic growth from its existing assets
Equinox Gold is a gold mining company with producing mines in the United States, Brazil, and Mexico, as well as development projects in Canada and Brazil. It has over 16 million ounces of gold reserves and is forecast to produce around 600,000 ounces of gold in 2021. Equinox Gold aims to grow annual production to over 1 million ounces through organic growth from its existing mines and projects, including expansions at Los Filos and Castle Mountain, and the development of the large Greenstone project in Canada and the Santa Luz project in Brazil. The company is well funded with over $530 million in liquidity to achieve its growth goals.
Calibre Mining is building a growth-oriented, Americas-focused mid-tier gold producer through the combination of Calibre and Fiore Gold. The combined company will have annual production of approximately 245,000 ounces at an AISC of $1,020/oz, diversified production across Nicaragua and Nevada, and a strong balance sheet with $101 million in cash and no debt. Calibre plans to grow production organically through exploration and development of its pipeline of projects including Eastern Borosi in Nicaragua and Gold Rock in Nevada.
Govi ex corporate presentation november 2021after q3_finAdnetNew
- GoviEx Uranium is an Africa-focused uranium company with two mine-permitted projects in Niger and Zambia, as well as exploration projects in Mali.
- The company has large uranium mineral resources totaling over 236 million pounds of U3O8, with over 60% in the measured and indicated categories.
- GoviEx's strategy is to advance its projects through feasibility studies and project financing to accelerate development and production.
- Augusta Gold Corp. recently changed its name and consolidated shares as it works to rapidly grow through exploration and development.
- The company has $33.2 million in cash and no debt after a recent private financing. It trades on the TSX and has an experienced board and management team with a track record of value creation.
- Augusta Gold aims to build on the success of previous companies led by the same team that discovered and developed mines in the Americas.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, 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. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five 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
Silvercorp Metals Inc. is a Canadian mining company and China's premier silver producer. The presentation provides an overview of Silvercorp's operations, including its three mines in China, financial highlights, growing reserves and resources of silver, lead and zinc, and exploration drilling results. It also discusses the company's strategy to pursue organic growth and acquisitions, incubation and investment strategy, and commitment to ESG and sustainability.
Equinox Gold is a growth-focused Canadian mining company operating entirely in the Americas, with seven gold mines and a clear path to achieve 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.
- Lundin Gold exceeded its 2020 production guidance and provided 2021 guidance of 380,000 to 420,000 ounces of gold production.
- Probable mineral reserves increased 5% to 5.24 million ounces of gold following conversion of mineable sections to long hole stoping.
- Exploration drilling continues to target resource expansion at Fruta del Norte and discovery of another high-grade deposit in the region.
- Lundin Gold exceeded its 2020 production guidance and beat its H2 2020 guidance across all metrics including gold production, average mill throughput, average head grade, and average all-in sustaining costs.
- The company provided 2021 guidance of 380,000 to 420,000 ounces of gold production with average all-in sustaining costs of $770 to $830 per ounce.
- Lundin Gold is focused on ongoing construction projects and an expansion to increase mill throughput to 4,200 tpd by Q4 2021, which is expected to increase annual gold production by 20%.
Probe Metals is a well-funded Canadian gold explorer advancing its Val-d'Or East project in Quebec. The project has over 1.8 million ounces of gold in the measured and indicated categories and over 2.3 million ounces in the inferred category. A preliminary economic assessment outlines an average annual production of 207,000 ounces of gold over a 12.5 year mine life with an after-tax NPV of C$598 million and IRR of 32.8% at a gold price of US$1,500 per ounce. The project has significant exploration potential along mineralized trends with a large land package in the prolific Abitibi gold belt of Quebec. Probe Metals is led by an experienced team with a
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, 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. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five 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.
Osisko Development Corp. - Corporate Presentation, September 2021Kevin Connan
This document contains forward-looking statements regarding Osisko Development Corp., including its ability to obtain further capital, position as a gold development company, indicative valuations, growth opportunities, and estimates regarding gold prices, costs, exploration, development, and construction. It also summarizes mineral resource estimates for some of Osisko Development's projects and discusses preliminary economic assessments. However, the document notes that many risks and uncertainties exist, actual results may differ, and mineral resources are not mineral reserves and do not demonstrate economic viability.
Silvercorp Metals provides a corporate presentation that includes the following key points:
1. Silvercorp is China's premier silver producer with over 77 million ounces of silver produced over 15 years from its Ying Mining District in China.
2. The presentation highlights Silvercorp's financial performance, growing reserves and resources, low-cost production, and competitive valuation ratios compared to peers.
3. Silvercorp's strategy is to maintain steady production while pursuing organic and acquisition growth opportunities, and it has incubation investments in other precious metal companies to pursue additional growth opportunities.
Lundin Gold hosted a conference from January 26th-28th, 2022 to discuss its Fruta del Norte gold mine in Ecuador. The presentation contained forward-looking statements regarding estimates and expectations for gold production, costs, exploration activities, and regional growth opportunities. It cautioned that actual results could differ from expectations due to risks and uncertainties. It also provided 2021 results which exceeded guidance, 2022 production guidance of 405,000-445,000 ounces of gold, and a three-year outlook showing steady production and significant free cash flow. Lundin Gold aims to create shareholder value through operational excellence, growth opportunities, and strong ESG practices.
- GoviEx is an Africa-focused uranium company with two permitted mine projects - Madaouela in Niger and Mutanga in Zambia.
- It has large mineral resources totaling over 236 million pounds of U3O8, with over 60% in measured and indicated categories.
- The company's strategy is to advance these projects through feasibility studies and de-risk them to attract project financing and offtake agreements to bring the projects into production by 2025-2027, helping to meet the growing demand for uranium.
Lundin Gold is a Canadian gold mining company with operations in Ecuador. It operates the Fruta del Norte gold mine, the first large-scale gold mine in Ecuador. Lundin Gold has outlined a three-year production outlook with annual gold production of 450,000 to 525,000 ounces at an AISC of $820-890 per ounce. It has implemented a debt reduction strategy and pays a quarterly dividend of $0.10 per share. Lundin Gold is conducting its largest exploration program to date in 2024 to grow resources and make new discoveries near Fruta del Norte and regionally.
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.
Silvercorp Metals is a Canadian mining company and China's premier silver producer. It operates three silver-lead-zinc mines in China - the Ying Mining District, GC Mine, and BYP Mine (currently on care and maintenance). Over its 15+ year mine life at the Ying District, Silvercorp has produced 79 million ounces of silver, 1.1 billion pounds of lead and zinc, and distributed $498 million in profits. Silvercorp is focused on organic growth through exploration and expanding existing operations, as well as pursuing acquisition opportunities. It also has strategic investments in other mining companies. The presentation discusses Silvercorp's operating and financial performance, reserves and resources, growth strategy, ESG objectives, and analyst
Calibre Mining Corp is a gold producer with multi-asset production and exploration opportunities in Nicaragua. It operates the Libertad and Limon processing hubs and mining spokes including Pavon Norte, which was brought into production in under 18 months. Calibre aims to grow production organically through near-mill discoveries and expanding emerging districts like Eastern Borosi, which currently hosts an inferred resource of 700,000 ounces of gold. Exploration is ongoing across Calibre's land package of over 2,000 square kilometers to discover new resources that can be fed into the surplus processing capacity at Libertad.
Equinox Gold is a gold producer with mines in the United States, Mexico, Brazil, and an upcoming mine in Canada. It aims to become the premier Americas-focused gold producer through organic growth of existing assets, development projects, and potential M&A opportunities. Key growth projects include the construction of the large Greenstone gold mine in Canada and ongoing expansions at the Los Filos, Castle Mountain, and Aurizona mines. Equinox Gold emphasizes responsible mining practices and creating value for all stakeholders.
Equinox Gold is a gold mining company with 7 producing mines and 2 growth projects. In 2022, it expects to produce 670,000 ounces of gold at an all-in sustaining cost of $1,330-$1,410 per ounce. Key assets include the Los Filos mine in Mexico, the Aurizona and RDM mines in Brazil, and the Mesquite and Castle Mountain mines in the United States. Construction is underway at the Greenstone project in Canada and the Santa Luz project in Brazil, with first gold pour expected in 2024 and Q1 2022, respectively. Equinox Gold aims to responsibly produce over 1 million ounces of gold annually through organic growth from its existing assets
Equinox Gold is a gold mining company with producing mines in the United States, Brazil, and Mexico, as well as development projects in Canada and Brazil. It has over 16 million ounces of gold reserves and is forecast to produce around 600,000 ounces of gold in 2021. Equinox Gold aims to grow annual production to over 1 million ounces through organic growth from its existing mines and projects, including expansions at Los Filos and Castle Mountain, and the development of the large Greenstone project in Canada and the Santa Luz project in Brazil. The company is well funded with over $530 million in liquidity to achieve its growth goals.
Calibre Mining is building a growth-oriented, Americas-focused mid-tier gold producer through the combination of Calibre and Fiore Gold. The combined company will have annual production of approximately 245,000 ounces at an AISC of $1,020/oz, diversified production across Nicaragua and Nevada, and a strong balance sheet with $101 million in cash and no debt. Calibre plans to grow production organically through exploration and development of its pipeline of projects including Eastern Borosi in Nicaragua and Gold Rock in Nevada.
Govi ex corporate presentation november 2021after q3_finAdnetNew
- GoviEx Uranium is an Africa-focused uranium company with two mine-permitted projects in Niger and Zambia, as well as exploration projects in Mali.
- The company has large uranium mineral resources totaling over 236 million pounds of U3O8, with over 60% in the measured and indicated categories.
- GoviEx's strategy is to advance its projects through feasibility studies and project financing to accelerate development and production.
- Augusta Gold Corp. recently changed its name and consolidated shares as it works to rapidly grow through exploration and development.
- The company has $33.2 million in cash and no debt after a recent private financing. It trades on the TSX and has an experienced board and management team with a track record of value creation.
- Augusta Gold aims to build on the success of previous companies led by the same team that discovered and developed mines in the Americas.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, 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. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five 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
Silvercorp Metals Inc. is a Canadian mining company and China's premier silver producer. The presentation provides an overview of Silvercorp's operations, including its three mines in China, financial highlights, growing reserves and resources of silver, lead and zinc, and exploration drilling results. It also discusses the company's strategy to pursue organic growth and acquisitions, incubation and investment strategy, and commitment to ESG and sustainability.
Equinox Gold is a growth-focused Canadian mining company operating entirely in the Americas, with seven gold mines and a clear path to achieve 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.
- Lundin Gold exceeded its 2020 production guidance and provided 2021 guidance of 380,000 to 420,000 ounces of gold production.
- Probable mineral reserves increased 5% to 5.24 million ounces of gold following conversion of mineable sections to long hole stoping.
- Exploration drilling continues to target resource expansion at Fruta del Norte and discovery of another high-grade deposit in the region.
- Lundin Gold exceeded its 2020 production guidance and beat its H2 2020 guidance across all metrics including gold production, average mill throughput, average head grade, and average all-in sustaining costs.
- The company provided 2021 guidance of 380,000 to 420,000 ounces of gold production with average all-in sustaining costs of $770 to $830 per ounce.
- Lundin Gold is focused on ongoing construction projects and an expansion to increase mill throughput to 4,200 tpd by Q4 2021, which is expected to increase annual gold production by 20%.
Probe Metals is a well-funded Canadian gold explorer advancing its Val-d'Or East project in Quebec. The project has over 1.8 million ounces of gold in the measured and indicated categories and over 2.3 million ounces in the inferred category. A preliminary economic assessment outlines an average annual production of 207,000 ounces of gold over a 12.5 year mine life with an after-tax NPV of C$598 million and IRR of 32.8% at a gold price of US$1,500 per ounce. The project has significant exploration potential along mineralized trends with a large land package in the prolific Abitibi gold belt of Quebec. Probe Metals is led by an experienced team with a
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, 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. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five 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.
Osisko Development Corp. - Corporate Presentation, September 2021Kevin Connan
This document contains forward-looking statements regarding Osisko Development Corp., including its ability to obtain further capital, position as a gold development company, indicative valuations, growth opportunities, and estimates regarding gold prices, costs, exploration, development, and construction. It also summarizes mineral resource estimates for some of Osisko Development's projects and discusses preliminary economic assessments. However, the document notes that many risks and uncertainties exist, actual results may differ, and mineral resources are not mineral reserves and do not demonstrate economic viability.
Silvercorp Metals provides a corporate presentation that includes the following key points:
1. Silvercorp is China's premier silver producer with over 77 million ounces of silver produced over 15 years from its Ying Mining District in China.
2. The presentation highlights Silvercorp's financial performance, growing reserves and resources, low-cost production, and competitive valuation ratios compared to peers.
3. Silvercorp's strategy is to maintain steady production while pursuing organic and acquisition growth opportunities, and it has incubation investments in other precious metal companies to pursue additional growth opportunities.
Lundin Gold hosted a conference from January 26th-28th, 2022 to discuss its Fruta del Norte gold mine in Ecuador. The presentation contained forward-looking statements regarding estimates and expectations for gold production, costs, exploration activities, and regional growth opportunities. It cautioned that actual results could differ from expectations due to risks and uncertainties. It also provided 2021 results which exceeded guidance, 2022 production guidance of 405,000-445,000 ounces of gold, and a three-year outlook showing steady production and significant free cash flow. Lundin Gold aims to create shareholder value through operational excellence, growth opportunities, and strong ESG practices.
- GoviEx is an Africa-focused uranium company with two permitted mine projects - Madaouela in Niger and Mutanga in Zambia.
- It has large mineral resources totaling over 236 million pounds of U3O8, with over 60% in measured and indicated categories.
- The company's strategy is to advance these projects through feasibility studies and de-risk them to attract project financing and offtake agreements to bring the projects into production by 2025-2027, helping to meet the growing demand for uranium.
Lundin Gold is a Canadian gold mining company with operations in Ecuador. It operates the Fruta del Norte gold mine, the first large-scale gold mine in Ecuador. Lundin Gold has outlined a three-year production outlook with annual gold production of 450,000 to 525,000 ounces at an AISC of $820-890 per ounce. It has implemented a debt reduction strategy and pays a quarterly dividend of $0.10 per share. Lundin Gold is conducting its largest exploration program to date in 2024 to grow resources and make new discoveries near Fruta del Norte and regionally.
Lundin Gold is a Canadian gold mining company with operations focused on its Fruta del Norte gold mine located in southeast Ecuador. The company has produced over 1 million ounces of gold since commencing commercial production in late 2019. Lundin Gold is focused on operational excellence at its mine to meet production guidance, continued exploration to replace depleted reserves, and advancing its debt reduction strategy having recently repaid its gold prepay facility and senior debt facility in full. The company generates strong cash flow and returns capital to shareholders through a quarterly dividend.
Lundin Gold is a Canadian gold mining company with its key asset being the Fruta del Norte gold mine located in Ecuador. The document discusses Lundin Gold's 2023 production outlook and cost guidance, its strong cash flow generation, growth potential through exploration, and leadership in environmental, social and governance practices. It highlights the mine's large mineral reserves, the company's goal of replacing depleted ounces through exploration, and its strategy of advancing debt reduction.
Cash flow generation is strong at Lundin Gold's Fruta del Norte mine in Ecuador. In Q1 2022, Lundin Gold produced over 121,000 ounces of gold and generated $91.8 million in free cash flow. With $336.9 million in cash as of March 31, 2022 and peer-leading free cash flow yields, Lundin Gold is well positioned to continue debt repayments, pay dividends, fund growth opportunities, and carry out exploration programs to expand resources. Near-mine exploration drilling is ongoing and regional exploration is advancing targets like Barbasco and Puente Princesa, with over 3,000 meters drilled in Q1.
Cash Flow is King at FDN
Lundin Gold generated $91.8 million in free cash flow in Q1 2022, ending the quarter with $336.9 million in cash. The company is strongly positioned to create shareholder value through debt repayment, organic growth opportunities, dividends, and potential M&A transactions. Lundin Gold approved a dividend policy with an anticipated annual payout of $100 million, representing a 5% dividend yield. Ongoing construction projects and resource expansion drilling are ramping up in 2022.
Cash Flow is King at FDN
Lundin Gold generated $91.8 million in free cash flow in Q1 2022, ending the quarter with $336.9 million in cash. The company is strongly positioned to create shareholder value through debt repayment, organic growth opportunities, dividends, and potential M&A transactions. Lundin Gold approved a dividend policy with an anticipated annual payout of $100 million. Construction of the South Ventilation Raise is ongoing and expected to be completed by the end of Q2 2022, while sustaining capital activities and resource expansion drilling are ramping up.
This corporate presentation from Lundin Gold provides an overview of the company and its key asset, the Fruta del Norte gold mine in Ecuador. Some key points:
- Fruta del Norte is a high-grade, underground gold mine that is currently in production.
- In 2022, Lundin Gold exceeded its production guidance and generated significant free cash flow.
- The mine has a mineral reserve of over 5 million ounces of gold and an estimated mine life of 11 years.
- Lundin Gold has a strong balance sheet with $363 million in cash as of December 2022 and is focused on further debt repayment and organic growth.
Lundin Gold is a Canadian gold mining company with its key asset being the Fruta Del Norte mine in Ecuador, one of the largest gold discoveries of the last 50 years. The presentation discusses Lundin Gold's strong operating and financial performance in 2022, with 269,752 ounces of gold produced and industry-leading low costs. Lundin Gold also has an advanced ESG strategy focused on becoming carbon neutral by 2030 and creating benefits for local communities. The company is generating significant free cash flow that is being used to pay dividends above the industry average and reduce debt to position Lundin Gold for further growth opportunities.
- Lundin Gold reported strong Q2 2022 results from its Fruta del Norte gold mine in Ecuador, including gold production of 111,890 ounces.
- Based on the strong performance, Lundin Gold increased its 2022 production guidance to 430,000-460,000 ounces of gold and lowered its AISC guidance to $820-$870 per ounce.
- The company also announced its inaugural dividend of $0.20 per share to be paid in September 2022, representing an industry-leading dividend yield of over 5%.
Lundin Gold held a conference call to discuss its fourth quarter and full year 2023 results. Key highlights included producing 481,274 ounces of gold for the full year, generating $263 million in free cash flow, and completing significant drilling and construction projects. Lundin Gold also provided an outlook estimating gold production between 450,000-500,000 ounces for 2024 with cash costs of $680-740 per ounce and AISC of $820-890 per ounce.
Lundin Gold is presenting at a virtual investor conference to discuss its gold mining operations. The document discusses Lundin Gold's Fruta del Norte mine in Ecuador, which is one of the few multi-million ounce, high-grade gold assets currently in production. It also provides details on Lundin Gold's 2022 production outlook, cash flows, growth plans including exploration, and environmental, social and governance strategies. The document contains forward-looking statements and non-IFRS financial measures and includes cautionary language about the risks and uncertainties inherent in such forward-looking information.
- Lundin Gold exceeded its 2021 gold production and cost guidance, producing over 428,000 ounces of gold
- Throughput at the Fruta del Norte mine was expanded from 3,500 tonnes per day to 4,200 tonnes per day, on time and on budget
- 2022 guidance is for gold production of 405,000-445,000 ounces at a cash operating cost of $860-$930 per ounce and average throughput of 4,200 tonnes per day
- Lundin Gold held a conference call to discuss its first quarter 2021 results and ongoing operations at its Fruta del Norte gold mine in Ecuador.
- Production and financial results for Q1 2021 were positive, meeting or exceeding guidance. The company is on track to meet its full-year 2021 production and cost guidance.
- Ongoing construction projects like the south ventilation raise and a bridge over the Zamora River are progressing on schedule and budget. An expansion to increase throughput is also on track.
- Exploration drilling started during Q1 at targets near Fruta del Norte, with the aim of expanding resources and finding new deposits.
- Lundin Gold reported strong Q1 2022 results including record quarterly gold production of 121,665 oz.
- Cash costs of $619/oz and AISC of $696/oz were below guidance. Cash flow from operations was $127 million and free cash flow was nearly $92 million.
- Construction of the south ventilation raise is ongoing and expected to be completed by end of Q2 2022. Other capital projects including the third raise of the tailings dam are ramping up.
- Exploration drilling continued during the quarter near FDN and at regional targets Barbasco and Puente Princesa.
Lundin Gold operates the Fruta del Norte gold mine in Ecuador, which is the first large-scale gold mine in the country. The company updated its 2022 production guidance to 405,000-445,000 ounces of gold, with an all-in sustaining cost of $860-$930 per ounce sold. Lundin Gold also provided a three-year outlook showing continued strong production and free cash flow potential through 2024.
Lundin Gold's Fruta del Norte mine in Ecuador has achieved industry-leading safety performance through consistent communication that safety is more important than production, excellent training programs, tools to identify risks before work begins, and clear accountability. In the first quarter of 2023, the mine achieved over 1.2 million work hours with only 1 minor injury, maintaining its total recordable incident rate well below the annual limit.
- Lundin Gold declared commercial production at its Fruta del Norte gold mine in Ecuador ahead of schedule in Q1 2020.
- The mine is expected to produce an average of 325,000 ounces of gold per year with an all-in sustaining cost of $621/oz and generate $20.9 million from initial gold sales in 2019.
- Exploration potential exists within the company's land holdings near Fruta del Norte, with priority targets including Barbasco that shows similarities to the existing mine.
- Lundin Gold reported record gold production of 140,021 ounces for Q1 2023 from its Fruta del Norte mine in Ecuador. Cash operating costs were $644 per ounce and all-in sustaining costs were $728 per ounce.
- Conversion drilling at Fruta del Norte successfully replaced all mined mineral reserves since the start of operations and added additional reserves. Proven and probable reserves now total 5.02 million ounces.
- Sustaining capital projects like the fourth raise of the tailings dam and resource conversion drilling are ramping up. Near-mine exploration is also in full swing focusing on expanding resources and testing new targets.
Strategic Resources - Corporate Presentation December 2023AdnetNew
The document is a corporate presentation for Strategic Resources Inc. outlining their BlackRock Project in Quebec, Canada. The key points are:
1) The BlackRock Project is a fully permitted multi-metallic ferroalloy project located in Quebec that will produce high purity pig iron, vanadium, and titanium.
2) It has a large mineral resource, favorable infrastructure access, and is expected to have low operating costs.
3) The feasibility study shows an after-tax NPV of C$1.9 billion and average annual production of over 500kt of pig iron, 4kt of vanadium, and 118kt of titanium slag over its 39-year mine life.
Silver One Corporate Presentation - March 2023AdnetNew
The document provides information on Silver One Resources, including its flagship Candelaria Mine Project in Nevada. It summarizes the historic mineral resource estimate reported for the Candelaria Project in 2001, which estimated measured, indicated, and inferred resources. The qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. The document also gives an overview of the company's goals to update resource estimates, conduct economic studies, and continue exploration work with the aim of advancing the Candelaria Project.
Q4 2022 Conference Call Presentation FINAL (updated).pdfAdnetNew
- Lundin Gold held a conference call to discuss its fourth quarter 2022 results.
- In 2022, Lundin Gold beat its gold production and cost guidance for the second year in a row. It is guiding for increased throughput in 2023.
- Lundin Gold generated $269 million in free cash flow in 2022 and has a three-year outlook that underscores its potential for continued free cash flow.
- Sustaining capital activities like tailings dam raises and resource conversion drilling are ramping up. Near-mine exploration is also in full swing to expand resources.
Clean Air Metals - Corporate Presentation - feb2023.pdfAdnetNew
The document discusses Clean Air Metals' Thunder Bay North Critical Minerals Project Preliminary Economic Assessment. Key points include:
- The PEA shows a 10-year mine life with $425M pre-tax NPV and 31% IRR, producing over 600k oz platinum, 600k oz palladium and other metals.
- Metallurgical test work shows the minerals can be recovered through a conventional flowsheet to produce separate copper and bulk sulphide concentrates.
- The project offers a domestic source of critical minerals like platinum, palladium and copper for clean energy technologies in North America.
This document provides an overview of Silver One Resources and its projects. Silver One is building a silver-focused mining company with assets in Nevada, USA. Its flagship project is the past-producing Candelaria Mine in Nevada, which has a large unexploited historic silver resource that remains open along strike and at depth. Silver One plans metallurgical testing and an economic study at Candelaria in the next 12 months to evaluate opportunities for silver oxide, silver sulphide, and porphyry exploration. Silver One also owns the Cherokee silver-gold project in Nevada and has an option on the high-grade Phoenix Silver Project in Arizona.
- Lundin Gold operates the Fruta del Norte gold mine in Ecuador, which is the first large-scale gold mine in the country.
- In the first half of 2022, the mine produced over 233,000 ounces of gold at an all-in sustaining cost of $770 per ounce, placing it in the lowest quartile of the global cost curve.
- Lundin Gold has upgraded its 2022 production guidance to 405,000 to 445,000 ounces of gold and lowered its all-in sustaining cost guidance to between $860 to $930 per ounce.
Calibre Investor Presentation July 2022 FINAL.pdfAdnetNew
This document provides an overview of Calibre Mining Corp., a mid-tier gold producer focused in the Americas. Calibre operates two mines in Nicaragua, Libertad and Limon, which have produced over 5.5 million ounces of gold historically. Calibre is focused on organic growth through resource expansion and new discoveries at its Nicaraguan assets. It is also advancing the Gold Rock project in Nevada as a potential new source of production. The company has a strong balance sheet and is trading at a significant discount to peers, representing an attractive investment opportunity.
Calibre Investor Presentation May 2022 Final.pdfAdnetNew
This document provides an overview of Calibre Mining Corp., a mid-tier gold producer focused in the Americas. Some key points:
- Calibre owns three gold mining operations across Nicaragua and Nevada that have produced over 5.5 million ounces of gold historically.
- The company has increased Nicaraguan gold reserves by over 254% to over 1 million ounces and is focused on expanding resources and discoveries through an 85,000+ meter drilling program across its properties.
- Growth opportunities include the development of the high-grade Pavon Central and Eastern Borosi projects in Nicaragua as well as expanding production at the Gold Rock project near its Pan Mine in Nevada.
This document introduces Coppernico Metals, a South American exploration company focused on copper, gold, and nickel projects. It summarizes the company's flagship Sombrero project in Peru, which it believes has potential to be a world-class copper-gold discovery based on geological similarities to major mines in the area. The company also discusses its Takana project in Peru, which features high-grade rock samples identifying copper-nickel-platinum prospects over multi-kilometer trends. Coppernico is working to renew community agreements needed to begin drilling programs at its projects and plans to pursue a public listing in 2022.
- Ero Copper is a high-growth clean copper producer with operations in Brazil focused on organic growth and strong returns.
- The company's portfolio includes the long-life MCSA Mining Complex, the NX Gold Mine, and the Boa Esperança project currently under construction, with a track record of doubling copper production every 4 years through exploration success and low-cost expansions.
- Ero Copper aims to continue outperforming peers through its high-quality assets in a mining-friendly jurisdiction, strong balance sheet, and aligned management team focused on returns.
- IMPACT Silver Corp. is a silver mining company that derives over 90% of its revenues from silver. It operates the Royal Mines of Zacualpan silver district in Mexico.
- The presentation provides an overview of IMPACT's operations, including processing facilities and multiple mining areas that have seen over 500 years of silver production. It also discusses the company's exploration potential from numerous historic mine workings across its large land package.
- IMPACT has a strong balance sheet with no debt and over $22 million in cash, positioning it to fund continued exploration and development. Management is experienced in Mexico with a track record of success in exploration and production.
- Ero Copper is a high-growth clean copper producer with operations in Brazil focused on organic growth and strong returns.
- Production is expected to double every 4 years from 20,000 tonnes in 2017 to 46,000 tonnes in 2021 and 97,000 tonnes by 2025 through projects like the new Boa Esperança mine.
- The company has a high quality portfolio of low-cost assets in Brazil with a focus on exploration driving further growth and returns.
20220223 calibre fy 2021 earnings and outlook deck (fin v2AdnetNew
Calibre Mining provided a business update and discussed its goals of becoming a growth-oriented, Americas-focused mid-tier gold producer. Some highlights include: increasing gold production to 180,000-190,000 ounces in 2022; growing mineral reserves in Nicaragua to over 1 million ounces; advancing high-grade projects like Eastern Borosi and Pavon Central to fuel production and cash flow growth in 2023-2024; and conducting exploration drilling to expand resources and make new discoveries across its Nicaraguan and Nevada assets.
20220223 calibre fy 2021 earnings and outlook deck (finAdnetNew
Calibre Mining provided a business update and conference call for Q4 and full year 2021. Some key highlights include:
- Produced 182,755 ounces of gold for the full year, exceeding guidance.
- Increased mineral reserves in Nicaragua to over 1 million ounces of gold after depletion.
- Advancing projects like Pavon Central and Eastern Borosi that are expected to fuel production and cash flow growth in 2023-2024.
- Exploration is ongoing at properties in Nicaragua and Nevada to identify new resources and extend mine lives.
Clean air metals corporate presentation - full versio-jan27AdnetNew
The document presents a preliminary economic assessment for Clean Air Metals' Thunder Bay North Project. Key highlights include:
- A 10 year mine life with average annual production of 629k oz platinum, 618k oz palladium, and other metals.
- Total initial capital costs of $367.2 million and operating costs of $86.61/tonne.
- Pre-tax NPV of $425 million and IRR of 31.1%, after-tax NPV of $293 million and IRR of 25.2%.
- Metallurgical test work indicates the minerals can be effectively concentrated into bulk sulphide and copper concentrates for smelting.
Clean air metals corporate presentation - jan262022AdnetNew
The document presents a preliminary economic assessment for Clean Air Metals' Thunder Bay North Project. Key highlights include:
- A 10 year mine life with average annual production of 2.4M oz PtEq and total LOM production of 2.4B oz PtEq.
- Pre-tax NPV of $425M and IRR of 31.1% and post-tax NPV of $293M and IRR of 25.2%.
- Initial capital costs of $367M and total capital costs of $536M with a post-tax payback period of 2.6 years.
- Metallurgical test work indicates the mineralization can be upgraded into high-grade bulk sulphide
Clean air metals corporate presentation - full versioAdnetNew
- Clean Air Metals conducted a preliminary economic assessment for its Thunder Bay North Project which indicated a pre-tax NPV of $425 million and IRR of 31.1%.
- The project is expected to have a 10 year mine life producing over 600k oz of platinum and palladium along with other metals.
- Metallurgical testing indicated potential recoveries of over 80% for platinum and palladium and over 90% for copper. Concentrates produced would contain valuable byproducts like cobalt, rhodium, and gold.
- Next steps involve upgrading resources, optimization studies to reduce costs and increase revenues, and advancing the project to pre-feasibility in 2023.
- Purest Silver Publicly Listed Company +90% Revenues from Silver is a corporate presentation for IMPACT Silver Corp, a silver mining production and exploration company based in Mexico.
- IMPACT owns two contiguous mining districts covering 211 square kilometers in Mexico, with over 16 years of exploration and production success. Over 90% of revenues come from silver.
- Operations include the 535 tonne per day Guadalupe processing plant and three underground mines (Guadalupe, San Ramon, and Cuchara), as well as the open pit Veta Negra mine. Exploration continues across the large land package with potential for new discoveries.
Clean air metals corporate presentation - full versio-dec-23-2021AdnetNew
- Clean Air Metals released a preliminary economic assessment and path forward for its Thunder Bay North Project in December 2021.
- The PEA outlined a 10 year mine life with strong economics including an after-tax IRR of 29.8% and NPV of $378.4 million.
- Metallurgical test work showed potential recoveries of 95.5% for copper, 52.1% for nickel, and over 80% for platinum, palladium, and gold.
Bitterroot Resources Ltd. owns the Coyote Sinter gold/silver project in Nevada. The project contains sinter and geothermal features at surface that indicate a preserved low-sulfidation epithermal system is present. Previous shallow drilling was anomalous but untested the priority 200-400m depth range. Recent work included mapping of 4 geothermal vents, CSAMT geophysics, and relogging of historic holes. This work defined drill targets along structures below the vents and along a 1.5km fault. Bitterroot is permitted and plans a core drilling program in 2022 to test for a bonanza zone at the projected optimal depth range for this type of system.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
2. Caution Regarding Forward-Looking Information and Statements
All statements, other than statements of historical fact, made and information contained in this
presentation and responses to questions constitute “forward-looking information” or “forward-
looking statements” as those terms are defined under Canadian securities laws (“forward-
looking statements”). Forward-looking statements may be identified by terminology such
“believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”,
“intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”, “would”, “will”, “should”
“might”, “will be taken”, or “occur” and similar expressions).
By their nature, forward-looking statements involve assumptions, inherent risks and
uncertainties, many of which are difficult to predict, and are usually beyond the control of
management, that could cause actual results to be materially different from those expressed
by these forward-looking. Lundin Gold believes that the expectations reflected in these
forward-looking statements are reasonable as of the date made, but no assurance can be
given that these expectations will prove to be correct. In particular, this presentation
contains forward-looking statements pertaining to: estimates of gold production, grades,
recoveries and costs, expected sales receipts, cash flow forecasts and financing obligations,
capital costs and the expected timing and impact of completion of capital projects including
the south ventilation raise, the throughput expansion project, the timing and the success of
its drill program at Fruta del Norte and its other exploration activities and the Company’s
efforts to protect its workforce from COVID-19.
There can be no assurance that such statements will prove to be accurate, as Lundin
Gold's actual results and future events could differ materially from those anticipated in this
forward-looking information as a result of the factors discussed in the "Risk Factors" section
in Lundin Gold's Annual Information Form dated March 2, 2021, which is available
at www.lundingold.com or on SEDAR. Forward-looking information should not be unduly
relied upon.
Except as noted, the technical information contained in this presentation relating to the
Fruta Del Norte Project is based on a Technical Report prepared for the Company entitled
“Fruta del Norte Project, Ecuador, NI 43-101 Technical Report on Feasibility Study” dated
June 15, 2016 with an effective date of April 30, 2016. Information of a scientific and
technical nature in this presentation was reviewed and approved by Ron Hochstein, P.Eng.,
Lundin Gold’s President and Chief Executive Officer, who is a Qualified Persons within the
meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI
43-101”).
Unless otherwise indicated, all dollar values herein are in US dollars.
Important Information for US Investors
This presentation may use the terms “measured", “indicated“, “inferred" and “historical”
mineral resources. U.S. investors are advised that, while such terms are recognized and
required by Canadian regulations, the Securities and Exchange Commission does not
recognize them. “Inferred mineral resources" and “historical estimates” have a great
amount of uncertainty as to their existence and great uncertainty as to their economic
feasibility. It cannot be assumed that all or any part of an inferred mineral resource or a
historical estimate will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of feasibility or other
economic studies. Further, historical estimates are not recognized under Canada’s NI 43-
101. U.S. investors are cautioned not to assume that all or any part of measured or indicated
mineral resources will ever be converted to mineral reserves.
This presentation is not an offer of securities for sale in the United States or in any other
jurisdiction. The Company’s securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States absent registration or an application exemption from registration.
2
TSX: LUG / OMX: LUG
3. 3
Fruta del Norte: The first large-
scale modern gold mine in Ecuador
Location:
Zamora Chinchipe Province, Southeast Ecuador
Ownership:
100%
Stage:
Producing
Mine Type:
Underground
Life of Mine:
~14 years
Probable Reserves:
5.24 million oz of gold grading 8.03 g/t
2021 Production Guidance:
350,000 – 420,000 oz
2021 AISC Guidance:
US$770 - $830 per oz
TSX: LUG / OMX: LUG
4. Corporate Structure
4
1. Data presented on slide as at October 18, 2021
Symbol TSX: LUG / OMX: LUG
Share price (CAD/sh) 11.35
52 Week Trading Range 9.11/12.93
Shares Outstanding 233.1 M
Market Capitalization C$2,640 M
Cash Position US$192.2 M
LT Debt US$555.9 M
BMO Capital Markets Outperform, $16.00
CIBC World Markets Outperform, $15.00
Cormark Securities Buy, $15.00
Desjardins Securities Buy, $14.50
Haywood Securities Buy, $14.00
National Bank of
Canada
Perform, $13.50
Scotiabank Outperform, $14.50
Stifel GMP Buy, $15.50
SpareBank 1 Markets Buy, SEK 100 / CAD $15.00
TD Securities Buy, $15.50
TSX: LUG / OMX: LUG
59%
5%
23%
13%
Strategic
Management
Institutional
Retail
CAPITAL MARKETS DATA ANALYST COVERAGE SHAREHOLDERS
5. Non-Executive Board of Directors, Management and Operations Team
5
Lukas Lundin Carmel Daniele Ian Gibbs Chantal Gosselin Ashley Heppenstall Paul McRae Craig Jones Bob Thiele Gillian Davidson
Chairman Director Director Director Director Director Director Director Director
Ron F. Hochstein Alessandro Bitelli Sheila Colman Nathan Monash David Dicaire Iliana Rodriguez Chester See
President, CEO &
Director
EVP, CFO VP, Legal and
Corporate Secretary
VP, Business
Sustainability
VP, Projects VP, Human
Resources
VP, Finance
Doug Moore Juan Carlos Contreras Murray Wright Guy Bédard
Mine Manager Mill Manager Supply Chain Manager General Manager
TSX: LUG / OMX: LUG
6. Delivering Through Volatile Times
6
Operational
Excellence
Reserve Growth
Throughput
Expansion
Exploration
3,500 to 4,200 tpd
Current mining rate is 4,200 tpd.
Stockpiling excess ore.
Mill throughput of 4,200 tpd to
be achieved in Q4 2021
Fruta del Norte Probable
Mineral Reserves: 5.24 Moz1
Increase of 5% compared to
FY2019 reconciliation
Ongoing 10,000m underground
drilling program offers further
upside
9,000m drill program costing
$11m started in Q1 2021
High priority targets: Barbasco
and Puente-Princesa
Targeting discovery of another
Fruta del Norte type deposit
Expect to meet upper range of
2021 production guidance
Focused on continued
optimization of operations
Positioned to deliver many
years of significant free cash
flow
1. See the Company’s Annual Information Form dated March 2, 2021, available under the Company’s profile at www.sedar.com TSX: LUG / OMX: LUG
7. FDN’s Strong Performance Continues in Q3
7
Three Months ended September 30, 2021 Three Months ended September 30, 2020
107,663 oz
Gold produced
365,312
Tonnes milled
10.3 g/t
Average Head Grade
88.8%
Average recovery
3,971 tpd
Average Mill Throughput
76,837 oz
Gold as concentrate
TSX: LUG / OMX: LUG
30,826 oz
Gold as doré
94,250 oz
Gold produced
324,143
Tonnes milled
10.4 g/t
Average Head Grade
86.8%
Average recovery
3,340 tpd
Average Mill Throughput
66,790 oz
Gold as concentrate
27,460 oz
Gold as doré
8. Company is Firmly on Track to Meet its 2021 Guidance
8
1. Please refer to the Company's MD&A for the second quarter of 2021 for an explanation of non-IFRS measures used
380,000 – 420,000
oz gold
2021 Gold Production
$770 – 830
per oz gold
AISC per oz sold1
TSX: LUG / OMX: LUG
9. Lundin Gold Continues to Generate Strong Cash Flows
9
In H1 2021, Lundin Gold generated $217 million in operating cash flow and ended the quarter with a cash balance of $192.2
million, which supports debt repayments, exploration and planned capital expenditures, including the expansion project
74.2
68.8
79.6
94.4
192.2
142.0
8.3 (36.3)
(16.7)
Cash as at June
30, 2020
Cash as at Sept.
30, 2020
Cash as at Dec.
31, 2020
Cash as at March
31, 2021
Cash generated from
operating activities
Proceeds from stock
option exercises
Principal and interest
payments made under
the loan facilities
Capital expenditures Cash as at June
30, 2021
TSX: LUG / OMX: LUG
10. +99%
10
Vaccination campaigns by Ecuador’s Ministry of Public
Health have been ongoing directly at site since Q2
2021, for the Company’s employees and contractors
Vaccinations Underway at FDN
Partially Vaccinated Employees and Contractors1
Fully Vaccinated1
97%
1. As at October 18, 2021 TSX: LUG / OMX: LUG
11. 11
Zamora River Bridge Now Fully Operational
Inaugurated during the second
quarter and is now being used
to access site
Will reduce transportation
costs
Enables a more efficient route
for trucks and vehicles to come
in and out of Fruta del Norte
TSX: LUG / OMX: LUG
12. Ongoing Construction Projects – South Ventilation Raise
12
Q2 2022
Updated SVR Completion
None
Impact on Production
Plan to complete the SVR has been revised
due to ongoing issues
New plan includes a smaller diameter 2.1
metre raise followed by slashing to 5.1
metres and concrete lining
There is no impact on production forecasts
for 2021 or 2022 as a result of this revised
work plan
TSX: LUG / OMX: LUG
13. Throughput Expansion on Track For Completion in Q4
13
Construction completion was at 76% as of August 31, 2021
Mine ramped up to 4,200 tpd
Mill equipment arrived on site
and commissioning underway
Mill reaching 4,200 tpd in Q4
2021
The 4,200 tpd expansion project continues on schedule and on budget
Q4
Q3 2021
TSX: LUG / OMX: LUG
14. 10,000 m underground drill program – 5,400 metres drilled as at August 31st, 2021
Fruta del Norte Resource Expansion Drilling Program well underway
14
Drill program focused on opportunities within existing current reserve and expansion of Inferred Resources
TSX: LUG / OMX: LUG
15. 15
Objective is to discover another Fruta del Norte type
gold-silver epithermal deposit
Regional Exploration Potential
Suarez Pull
Apart Basin –
38 km2
FDN East
FDN SW
Alejandro
La Negra Norte
Barbasco
Emperador
El Puma
Fruta del Norte
Gata Salvaje
Puente-Princesa
La Negra
Guayacan
Lora
Key exploration ground is the 38 km2 Suarez Pull-Apart Basin
The Basin remains essentially untested and geological
conditions are similar to those at Fruta del Norte
In Q3 2020, permits for drilling two high priority targets,
Barbasco and Puente-Princesa, were received
Many more additional targets yet to be evaluated
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16. 16
9,000m Drill Program Progressing
Barbasco
• Similar surface expressions,
structural location and
orientation to Fruta del Norte
• Small scale epithermal gold-
silver stockwork veins in the
area have assayed up to 10.4
g/t Au
• 6,000 m drill program
• 6 holes now completed
Puente-Princesa
• Outcropping epithermal Au-Ag
mineralization along Basin
margin
• Untested pathfinder element
anomalies exist in the Suarez
basin conglomerates
• 3,000 m drill program will test
geochemical anomalies
• Two rigs currently turning
Six holes completed on the Barbasco anomaly.
Broad propylitic alteration and narrower zones of proximal epithermal
alteration intersected.
Both rigs have now been moved to Puente Princesa, where 1 hole has
been completed and 1 hole is in progress.
Initial assay results expected to be released in the fourth quarter
Exploration Update
Drill Hole
Locations
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17. 5 Year Sustainability Strategy
17
Climate Change
Community
Infrastructure
Community
Well-being
Environmental
Stewardship
Health & Safety
Human Rights
Lasting Economic
Opportunities
Responsible
Resource
Governance
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18. A leading ESG strategy
18
• The Environmental Stewardship Program implements industry best practices for water
management, waste and tailings management, and emissions reductions while protecting
biodiversity.
• Adopting TCFD recommendations and incorporating climate-related risk into disclosures.
Environment Guidelines and Associations
• 1,766 direct jobs as of August 2021 (Zamora Chinchipe: 51% / Rest of Ecuador: 39%).
• The Company spent $23M on local procurement in the Zamora Chinchipe Province in 2020. $393M
was spent in Ecuador.
• Between 2015 and 2020, Lundin Gold invested $20M in domestic economy strengthening projects.
Social
• Lundin Gold is committed to maintaining a high standard of corporate governance that fosters
accountability, ethical behavior, and transparent disclosure.
• 15% female representation in the workforce / +50% director independence / 30% female director
representation.
• Recently published 2020 Sustainability Report, available on www.lundingold.com
Governance
19. 19
Progress Continues on the Estamos Conectados Connectivity Project
Lundin Gold is appreciative of the numerous partners who have committed to
supporting this connectivity project through the Lundin Foundation, including:
All 1,370 tablets have been distributed
to students in the Los Encuentros parish
as well as several other rural
communities close to Fruta del Norte
Installation of fibre optic infrastructure
to provide improved internet service to
the local communities is underway
Internet service has also been improved
for a local school in the area
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20. 20
Since assuming office in May, reconciliation and vaccinations have earned
Guillermo Lasso a +70% approval rating
Lasso Off to a Strong Start
AUG
Established the Executive Decree Nº 151 that contains
the Mining Policy for Ecuador. The Decree lays out an
action plan and timeframe that has a primary
objective of developing an efficient, environmentally
and socially responsible mining industry in Ecuador.
SEPT
Ecuador and the IMF reach
agreement resulting in $1.5 billion
in new disbursements this year
MAY
Guillermo Lasso inaugurated as
the 47th President of Ecuador
SEPT
Guillermo Lasso announces his
economic bill named Creating
Opportunities
SEPT
Achieved goal of vaccinating 9 million of
Ecuador’s 17.7 million citizens against
COVID-19 in his first 100 days in office
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21. 21
Mining playing an important part
in Ecuadorian economic growth
Mineral Resources now represent one of Ecuador’s top five exports
$810 million1
Total exports generated
by mining sector in
Ecuador during 2020
$430 million1
Taxes paid in 2020 by
mining companies in
Ecuador
$374 million1
Direct foreign investment
for Ecuador during 2020
The Zamora Chinchipe economy can benefit as a direct result of Fruta
del Norte
8.5x
Projected growth of Yantzaza’s
economy over the next 7 years
$160 million
Local fiscal resources over the LOM (vs.
2018 Yantzaza budget of $10m)
$1 billion
LOM royalties and taxes
expected to be paid
$626 million
Lundin Gold domestic
purchases (2017 – 2020)
$3.6 - 5.7
billion
FDN contribution to
Ecuador’s GDP over LOM
1. Source: Bloomberg
Lundin Gold will contribute to Ecuador’s economy for years to come
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22. Lundin Gold – Value Creation Opportunities
2021 production estimated between 380,000 - 420,000 oz based on an
average head grade of 10.4 g/t Au and an average gold recovery of 90%
Increasing mine and mill throughput 20% from 3,500 to 4,200 tpd at a cost
of $18.6 million
Continuing with underground resource expansion drill program
Preliminary results from the regional exploration drill program at high-
priority Barbasco target
22
Operational
Excellence
Reserve Growth
Throughput
Expansion
Exploration
2021 Catalysts
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25. Second Quarter of 2021 Financial Highlights
25
1. Please refer to the Company's MD&A for the second quarter of 2021 for an explanation of non-IFRS measures used
(Tables are expressed in $’000, except share and per share amounts, or unless
otherwise stated)
Three Months ended
June 30, 2021
Six Months ended
June 30, 2021
Net revenues 216,145 356,136
Income from mining operations 110,604 174,635
Net income (loss) 49,984 135,964
Operating cash flow 142,005 217,088
Average gold sale price ($/oz sold)1 1,773 1,770
Average cash operating cost ($/oz sold)1 596 626
Average all-in sustaining costs ($/oz sold)1 720 764
Operating cash flow per share1 0.61 0.94
Adjusted net earnings1 74,800 112,209
Adjusted net earnings per share1 0.32 0.48
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26. All-In Sustaining Costs1
26
(Tables are expressed in $’000, or unless otherwise stated)
Three Months ended June
30, 2021
Six Months ended June
30, 2021
Cash operating costs 74,779 129,753
Corporate social responsibility 276 568
Treatment and refining charges 9,080 15,914
Accretion of restoration provision 26 153
Sustaining capital 8,989 17,186
Less: silver revenues (2,854) (5,262)
All-in sustaining costs (“AISC”)1 90,296 158,212
Gold oz sold 125,412 207,217
AISC per oz sold1 $ 720 $ 764
1. Please refer to the Company's MD&A for the second quarter of 2021 for an explanation of non-IFRS measures used TSX: LUG / OMX: LUG
27. 0
200
400
600
800
1000
1200
1400
1600
1800
2000
0 10 20 30 40 50 60 70 80 90 100
All-In
Sustaining
Cost
(US$/oz)
Percentage (%) of Global Production
Lundin Gold in the Lower Quartile of the Global Gold AISC Curve1
2021 AISC Cash Costs
(per oz Au sold)3
On site operating costs 555 - 585
Royalties & production taxes 90 – 100
Treatment and refining 74 - 83
Corporate Social Responsibility 2 - 4
Silver by product credit (23 - 25)
Cash operating costs 696 - 749
Sustaining Capital & Closure 74 - 81
2021 All-In Sustaining costs 770 - 830
27
Gold Price ~$1,786/oz2
1. SNL Metals and Mining, public company filings 2. Spot gold as at September 10, 2021 3. Please refer to the Company's MD&A for the second quarter of 2021 for an explanation of non-IFRS measures used
28. Probable Mineral Reserves of 5.24 Moz of
Gold at 8.03 g/t1
28
Result of converting a portion of Drift and Fill mineable orebody sections to
Long Hole Stoping, due to good ground conditions experienced in the mine
December 31,
2019
2020 Reserve2
Processed in
Remainder of
20203
December 31,
20204
Mt 17.6 20.8 0.6 20.3
Au (g/t) 8.74 8.1 9.84 8.03
Au (Moz) 4.99 5.41 0.18 5.24
Ag (g/t) 12.1 11.8 12.04 11.45
Ag (Moz) 6.92 7.68 0.22 7.46
1. See slide 37 for information regarding the assumptions, parameters and risks associated
with the FY2020 reconciliation, along with other disclosure in accordance with NI-43-101
2. As at July 31, 2020
These changes have also resulted in a slight increase to dilution and decrease
in average grade
Mineral Resources estimates at Fruta del Norte were not affected
3. Corresponds to mill feed from August 1, 2020 to December 31, 2020
4. See the Company’s Annual Information Form dated March 2, 2021, available under the
Company’s profile at www.sedar.com.
29. Fruta del Norte one of the few Multi-Million Ounce, High-Grade Gold
Assets in Production1
29
1. Source: S&P Global Market Intelligence Metals and Mining, company reports, Lundin Gold Annual Information Form dated March 2, 2021
Producers with gold reserves > 4 million ounces
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30. Responsible Mining
30
Lundin Gold Inc is committed to responsible mining, and therefore operates our facilities
according to 3 fundamental principles: working safely, environmental stewardship, and
respect in each of our activities
We seek to create enduring relationships with local communities and stakeholders and to
address social challenges that are priorities both for communities and for the business
through partnerships, and in doing so, help create value for a range of stakeholders.
Mining Is a Catalyst for Sustainable Business Development
Local Hiring Local Procurement Impact Investing
+90% of Lundin Gold’s
workforce is from Ecuador1:
− 51% from the province
− 39% rest of Ecuador
− 10% foreign personnel
1. As at July 2021 2. January 2017 – November 2020
Spent ~$88 million on goods
and services in the in the
province2.
During development, over 300
Ecuadorian suppliers provided:
− Construction materials
− Transportation
− Site support services
− Food and other perishables
Lundin Gold and the Lundin Foundation
work with local enterprises to increase
economic diversification:
− Takataii: agricultural development
program focused on producing and
selling of short cycle agricultural
products supplies multiple vendors
− Nexo, Conexión Empresarial: education
program that strengthens the skills of
local micro-entrepreneurs so that they
can access new business opportunities
https://lundingold.com/site/assets/files/16806/sustainability_report_2019_september.pdf -
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31. Impact Investing to deal with COVID-19
In 2021, Lundin Gold continued to invest in local development with a wide range of partners
Focus has been on direct COVID-19 response and mitigating its impacts on local communities
31
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32. Lundin Gold Contributed to the Set Up of the First ICU in Zamora Chinchipe
32
Donated critical care equipment for the creation of an ICU at the Yantzaza hospital, the first critical
care facility in the Province of Zamora Chinchipe
Over $1 million invested in partnership with Newcrest Mining and the SolGold Group
136
State of the art medical devices
donated
12
Fully equipped ICU beds will be in the
unit
76,600
Residents in the province will directly
benefit from the ICU
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33. 27 km of Underground Mine Development Completed1
33
2,360 km developed during the second quarter / Rates averaged 25.9 m per day in the second quarter of 2021
1. As at June 30, 2021 TSX: LUG / OMX: LUG
35. Newcrest Financing Package and Senior Debt Facility
35
Gold Pre-Pay and Stream Finance Package
Gold Prepay Credit Facility of US$150 million, repayable in 19 fixed
quarterly principal and interest instalments equivalent to the value of
9,775 oz gold (raising to 11,500 oz and 13,225 if the gold price is less
than $1,436 and less than $1,062, respectively) based on spot at time
of payment starting December 2020 and ending 2025.
− First payment made under the gold prepay in December 2020.
Stream Credit Agreement of US$150 million, repayable in variable
monthly principal and interest instalments equivalent to the delivery of
7.75% gold production and 100% silver production, based on spot at
time of payment less US$400/ounce Au and US$4.00/ounce Ag, up to a
maximum of 350,000 oz of gold and 6 million oz of silver.
− Payments commenced upon achievement of Commercial Production in
February 2020
− Option to buy back 50% of the stream in June 2024 and 50% in June 2026
Offtake agreement for up to 2.5 million ounces refined gold
Senior Debt Facility
$350 million from lenders syndicate
− 7 lenders and 1 export credit agency
− Tranche A: US$250 million senior commercial facility.
− Tranche B: US$100 million senior covered facility under a raw
material guarantee provided export credit agency.
− Term: eight and half years, maturing in June 2026.
− Annual interest: 3 or 6 month LIBOR plus an average margin of
approx. 5.05% (Tranche A) and 2.50% (tranche B) over the term.
Fully drawn at end of 2019.
Repayable in variable quarterly instalments starting at the end of 2020
and maturing in June 2026.
First payment made in December 2020
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36. Government Agreements
The Company has all the major agreements and permits with the Government of Ecuador in place
36
The Exploitation Agreement The Investment Protection Agreement
• The Exploitation Agreement sets out the rights and obligations of the
Government of Ecuador and Aurelian as mining concessionaire with respect to
the Project and incorporates:
• Term: affords the mining concessionaire the right to develop and produce
gold from the Project for 25 years
• Fiscal Terms: describing royalties, windfall tax and sovereign adjustment
mechanisms
• Security: acknowledges the financing requirements and provides the ability
and authorisation to grant security
• Enforcement: provides acknowledgement that the Lenders are entitled to
foreclose without authorisation from the mining concessionaire or the
Government of Ecuador
• Dispute Resolution Procedures: arbitration under UNICTRAL rules (in
Santiago, Chile)
• The Investment Protection Agreement primarily deals with tax and mining
regulatory stabilisation and other investment protection mechanisms. Key
benefits include:
• Income tax rate fixed at 22%
• Exemption from the capital outflow tax of 5% on payments of principal and
interest to financial institutions outside of Ecuador
• The ability to obtain benefits granted by the Government of Ecuador through
future investment protection agreements with other investors in similar
projects in Ecuador
• No restrictions to transfer or assign all or part of the investment, including
the right to assign its rights to any financing parties
• Other benefits granted to Aurelian include no restriction to:
• produce and sell minerals;
• import and export goods; and
• establish, maintain, control, or transfer funds abroad, provided statutory
remittances and obligations have been met
Both the Exploitation Agreement and the Investment Protection Agreement were signed in December 2016
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37. Mineral Resources
NI 43-101 Mineral Resources - Mineral Resources, inclusive of
Mineral Reserves as at December 15, 2015
37
Category
Tonnage
(M t)
Grade
(g/t Au)
Contained Metal
(M oz Au)
Grade
(g/t Ag)
Tonnage
(M oz Ag)
Indicated 23.8 9.61 7.35 12.9 9.89
Inferred 11.6 5.69 2.13 10.8 4.05
Notes:
1. The Qualified Person for the estimate is Mr. David Ross, P.Geo., an employee of RPA. The estimate has
an effective date of 31 December, 2015.
2. Mineral Resources are reported inclusive of Mineral Reserves; Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability.
3. Mineral Resources are reported at a cut-off grade of 3.5 g/t Au; which was calculated using a long term
gold price of US$1,500/oz.
4. Mineral Resources are constrained within underground mineable shapes that assume a minimum
thickness of 2 m; metallurgical recovery of 94%; total operating costs of US$145/t milled (mining cost
of US$60/t milled; process costs of US$35/t milled; G&A costs of US$15/t milled; surface infrastructure
costs of US$28/t milled; concentrate transport and treatment costs of US$7/t milled); royalties of
US$71/oz and selling costs of US$65/oz.
5. Numbers may not add due to rounding.
6. For information with respect to the key assumptions, parameters and risks associated with the results
of the Technical Report for the Project, the Mineral Resource and Mineral Reserve estimates included
therein and other technical information, please refer to the Technical Report.
1. The 2020 Reserve has been estimated in accordance with CIM Standards and NI 43-101. The 2020 Reserve is as at July 31,
2020 and reflects mill feed from January 1, 2020 to July 31, 2020.
2. Additional information on Mineral Resource and Mineral Reserve estimates for Fruta del Norte is contained in the in the
Technical Report which is available under the Company's profile on SEDAR. Except as set out below, the assumptions,
parameters and risks associated with the Company's Mineral Resource and Mineral Reserve estimates set out herein are as
set out in the Technical Report.
3. All Mineral Reserves presented are Probable Mineral Reserves. No Proven Mineral Reserves were estimated.
4. Mineral Reserves were estimated using key inputs listed in the top right table.
5. Gold cut-off grades for the different mining methods are listed in the bottom right table.
6. Silver was not considered in the calculation of the cut-off grade.
7. Tonnages are rounded to the nearest 1,000 t, gold grades are rounded to two decimal places, and silver grades are rounded
to one decimal place. Tonnage and grade measurements are in metric units; contained gold and silver are reported as
thousands of troy ounces.
8. Rounding as required by reporting guidelines may result in summation differences.
Notes to Probable Mineral Reserve Update
Key Input
December
31, 2019
2020
Reserve
December
31, 2020
Unit
Gold Price 1,250 1,400 1,400 $/oz
TS 48 47 47 $/t
D&F 81 69 69 $/t
Process, Surface Ops, G&A 58 57 57 $/t
Dilution Factor 10 8 8 Percent
Concentrate Transport & Treatment 68 92 92 $/oz
Royalty 71 77 77 $/oz
Gold Metallurgical Recovery 91.7 91.7 91.7 Percent
Gold Cut-off Grade
December
31, 2019
2020
Reserve
December
31, 2020
Unit
Transverse Stope 3.8 3.8 3.8 g/t
Drift and Fill 5.0 4.4 4.4 g/t
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