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1
VALUE THROUGH GOLD
Ramping Up the High-Grade Brucejack Mine
February 25-28, 2018
BMO Capital Markets – Global Metals & Mining Conference
2
Cautionary StatementForward-Looking InformationThis Presentation contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, the anticipated production and developments in our operations in future periods, information with respect to our planned exploration and development activities, the adequacy of our financial resources, the estimation of mineral reserves and resources including the 2016 Valley of the Kings Mineral Resource estimate, realization of mineral reserve and resource estimates and timing of development of our Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Mine, timing and receipt of approvals, consents and permits under applicable legislation, our executive compensation approach and practice, the composition of our board of directors and committees and adequacy of financial resources. Wherever possible, words such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of themineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in our Annual Information Form dated March 30, 2017 filed on SEDAR at www.sedar.com and in the United States on Form 40-F through EDGAR at the SEC’s website at www.sec.gov. Forward-looking information is based on the expectations and opinions of our management on the date the statements are made. The assumptions used in the preparation of suchstatements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. CurrencyUnless otherwise indicated, all dollar values herein are in US $.
3
Notes to InvestorsNational Instrument 43-101Technical and scientific information contained herein relating to the Projects is derived from National Instrument 43-101 (“NI 43-101”) compliant technical reports (“Reports”), “Measured, Indicated, and Inferred Mineral Resource Update” dated July 21, 2016, “Feasibility Study and Technical Report on the Brucejack Project, Stewart, BC” dated June 19, 2014, “Mineral Reserve Update” dated December 15, 2016, “capital cost update” dated February 3, 2017, and . We have filed the Reports and Update under our profile at www.sedar.com. Technical and scientific information not contained within the Reports for the Projects have been prepared under the supervision of Mr. Ivor W.O. Jones, M.S.c., FAusIMM, Cpgeo, Mr. Kenneth C. McNaughton, P.Eng., Ian Chang, P.Eng., Mr. Russell Pennel, B.A.S.c., P.Eng., and Mr. Lyle Morgenthaler, B.A.S.c., P.Eng. each of whom is an independent “qualified person” under NI 43-101.This presentation uses the terms “measured resources”, “indicated resources” (together “M&I”) and “inferred resources”. Although these terms are recognized and required by Canadian regulations (under NI 43-101), the United States Securities and Exchange Commission does not recognize them. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no guarantee that all or any part of the mineral resource will be converted into mineral reserves.In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre feasibility studies, or economic studies, except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. Non-IFRS Financial Performance MeasuresThe Company has included certain non-IFRS measures in this presentation. The Company believes that these measures, in addition to measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company and to compare it to information reported by other companies. The non-IFRS measures are 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. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.The non-IFRS financial measures included in this presentation include: cash costs per ounce of gold sold, all-in sustaining cost per ounce of gold sold, adjusted earnings or loss, adjusted earnings or loss per share, and average realized price per ounce of gold sold. Please refer to the Non-IFRS Performance Measures section of the Company’s MD&A filed on SEDAR at www.sedar.com and in the United States on Form 40-F through EDGAR at the SEC’s website at www.sec.gov for a detailed discussion and reconciliation of the non-IFRS measures to the most directly comparable IFRS 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. The presentation of non-IFRS measures is not meant to be a substitute for the information presented in accordance with IFRS.
4
Underground gold mine in British Columbia, Canada
Ramping up production
150,000+ ounces gold produced in first 6 months
Healthy cash position
Local and regional exploration potential
Brucejack MineAn Emerging High-Grade Gold Producer
8
Optimizing Operations
Source: See News Releases dated Nov 10, 2017 and Jan 23, 2018
Q3 2017 Q4 2017 TOTAL
Gold Produced 82,203 oz 70,281 oz 152,484 ozMill Feed Grade 10.52 g/t 8.24 g/t 9.36 g/tGold Recovery Rate 96.49 % 95.8 % 96.19 %Ore Milled 261,262 t 271,501 t 532,763 tAverage Milled Per Day 2,840 t/d 2,951 t/d 2,895 t/d
Brucejack Ramp-Up Gold Production First 6 Months
9
Optimizing Operations
Improve Long-hole Drill Availability Third long-hole drill on site
Increase Stope Inventory Underground development rate increased to 700 meters
per month
Target 10-12 stopes for mining by mid-2018
10
+1200
+1320
+1410
Meters ASL
20 g/t
10 g/t
5 g/t
15 g/t
Grade
N
Meters
Valley of Kings Mineral Reserve Estimate (LOM)1
Category Tonnes(mil)
Gold(g/t)
Silver(g/t)
ContainedGold(mil oz)
Silver(mil oz)
Proven 3.3 14.5 12.9 1.6 1.4
(1) Mineral Reserve Update, see news release dated December 15, 2016
Valley of Kings Block Model
Optimizing OperationsIncreasing Accessibility
11
Operational Grade Control
Grade Control System Sample splitting station commissioned
Development round and long-hole stope ring sampling program underway
Development round and ring assays successfully feeding back into the short-term mine planning cycle
Reverse Circulation Drilling for Stope Definition Underway
Infill drilling to 5 to 7-meter centers
Replaces planned infill diamond drilling
Lower cost, quicker, and bigger sample size than diamond drilling
12
Delivering on Guidance
(1) See News Release dated Jan 23, 2018. (2) All-in Sustaining Cost (AISC) is non-IFRS performance measure. For reconciliation to IFRS measures refer to the Company’s MD&A.
Gold Production 150,000 - 200,000 ozAll-in Sustaining Cost2 $900 - $700 /oz sold
H1 2018 Guidance1
All-in Sustaining Cost includes all costs (site and head office), other than costs related to the increase in production rate (estimated US$25 million)
Full-year Guidance mid-2018
13
Delivering on GuidanceRobust Margin
400
500
600
700
800
900
1,000
125,000 175,000 225,000
AIS
C 2 (U
S$)
2018 Gold Production (oz)
Low-range
High-range
9.8 g/t GoldHead Grade
13 g/t GoldHead Grade
150,000 200,000
H1 2018 Gold Production Guidance1
(1) See News Release dated Jan 23, 2018. Currency US$(2) All-in Sustaining Cost (AISC) is non-IFRS performance measure. For reconciliation to IFRS measures refer to the Company’s MD&A.
14
2018 Potential Impacts to AISC Strategic Decisions Additional development to build stope inventory
Contract miner during ramp-up and construction financing payback
Cost Control Opportunities Optimize mining operations
Reduce binder use for paste backfill
Evaluate material and supply contracts
Assess grind size increase
Potential snow removal savings
Delivering on Guidance
15
Balance Sheet Strategy
2018 Build Cash Position
Refinance/Pay Down Credit Facility(1)
– US$350M at 7.5% interest due Dec 31, 2018
– Extendable to Dec 31, 2019 with payment of 2.5% of principal and interest
Buy Back Precious Metals Stream(1,2)
– 1st opportunity US$237M on Dec 31, 2018
Invest in low-cost, high-return production rate increase
(1) See News Release dated Sept 15, 2015(2) Capped at 7.067 M oz and 26.279 M oz refined gold and silver, less production to Dec 31, 2019. Based on refined gold and silver that were
estimated to be available for sale in the June 2014 Feasibility Study for the Brucejack Project
16
Low Capital Investment of ~US$25M: 40% Increase in Production Rate(1)
(1) Increase production rate to 3,800 t/d from 2,700 t/d. Pending permit application approval; see News Release dated Dec 21, 2017.
96.7% GOLD RECOVERY (LOM)
3,800 t/d
Balance Sheet Strategy
17
Balance Sheet StrategyRobust Margin with Increased Production Rate
500
550
600
650
700
750
800
400,000 450,000 500,000 550,000 600,000
AIS
C2
(US$
)
Annual Gold Production (oz)
(- 25% Grade)
Reserve Grade
Projected 2019 Production Window
at 3,800 t/d1
(1) Projected production range for 2019 based on 3,800 t/d. Pending permit application approval; see News Release dated Dec 21, 2017. (2) All-in Sustaining Cost (AISC) is non-IFRS performance measure. For reconciliation to IFRS measures refer to the Company’s MD&A. AISC Guidance excludes capex required for production increase to 3,800 t/d.
18
Organic Growth Opportunities
Brucejack Reserve Expansion - 2019
Exploration Drill Program for Source Porphyry -underway
Bowser Regional Exploration Potential –summer 2018
19
N
250 m(1) Outline of Measured, Indicated, and Inferred Mineral Resource as at 21 July 2016.(2) Outline of Proven and Probable Mineral Reserve, based on June 19, 2014 Feasibility Study.(3) Regional exploration drill results; see News Release dated Oct 8, 2015
SU-658
SU-661
SU-654
SU-668
2.05m @ 2,100 g/t Au(Inc 0.5m @ 8,600 g/t Au)
1.18m @ 10.75 g/t Au
9.0m @ 21.87 g/t Au(Inc 0.5m @ 203 g/t Au)
1.5m @ 16.9 g/t Au
0.5m @ 137 g/t Au
Mineral Resource1
Mineral Reserve2
Exploration PotentialDrill Intercepts3
Organic Growth OpportunitiesReserve Expansion
20
Flow Dome Zone
250 m
E
Valley of the Kings Development
W
9.0m @ 21.87 g/t Au(Inc 0.5m @ 203 g/t Au)
2.05m @ 2,100 g/t Au(Inc 0.5m @ 8,600 g/t Au)
SU-6571
SU-6661
2018 Exploration Drill Holes
(1) Regional exploration drill results; see News Release dated Oct 8, 2015
Organic Growth Opportunities Exploration Drilling for Source Porphyry
21
5km
Surface Sampling20172016201520142011/13 Pre 2011
NN
Boulder Zone
Koopa Zone
American Creek Zone
5 km
Brucejack
Organic Growth Opportunities Bowser Regional Exploration
Regional exploration program; see News Release dated Dec 5, 2017
22
Positioning Relative to PeersEmerging Low-cost Producer in 2019
Alamos
B2 Gold
DetourIAM Gold
Kirkland
Oceana SemafoAlacer
Argonaut Asanko
Guyana
Leagold
TMAC
Randgold
PretiumProjected 2019(3)
Agnico
400
500
600
700
800
900
1000
1100
1200
0 200 400 600 800 1000 1200 1400 1600
AIS
C2
(US$
)
Gold Production (000’s oz)
)
(1) Source: Company websites and Scotiabank estimates - 2018 guidance for AISC and gold production. (2) All-in Sustaining Cost (AISC) is non-IFRS performance measure. For reconciliation to IFRS measures refer to the Company’s MD&A.(3) Pretium projected production range for 2019 based on 3,800 t/d. AISC Guidance excludes capex required for production increase to 3,800 t/d. Pending permit approval;
see News Release dated Dec 21, 2017.
Pretium Guidance Range at 3,800 t/d vs Peers Production(1)
23
2018 Catalysts for Success
Grade Control Program
Delivering on Guidance
3,800 t/d Production Rate Increase
Exploration Drilling for Source Porphyry
Grass Roots Exploration
25
Shareholding & Analyst Coverage
(1) As of February 22, 2018; ownership calculated on an undiluted basis.(2) As of February 22, 2018. Source: IPREO, Morningstar Inc. & SEDAR.
Top Shareholders(2)` (% S/O)
Black Rock Asset Management 15.8Van Eck Associates 9.9M&G Investment Management 3.8SSR Mining 3.0BMO Asset Management 2.7Orion Mine Finance 2.5Sun Valley Gold 2.2Anchor Bolt Capital 1.9Pretivm Management 1.9The Vangaurd Group 1.8
Equity Structure(1)(shares in millions)
Issued & Outstanding 182.4Fully Diluted 194.2
Market Cap (Feb 22, 2018) US$1.18 B
Analyst CoverageBMO Andrew KaipCanaccord Genuity Rahul PaulCIBC David HaughtonCiti Alexander HackingCormark Securities Richard GrayCredit Suisse Robert ReynoldsGlobal Mining Research David CotterellH.C. Wainwright Heiko F. IhleNumis Jonathan GuyRBC Dan RollinsRoth Capital Partners Joseph ReagorScotiabank Ovais Habib
26
Third Quarter 2017
Source: See News Release dated Nov 10, 2017. Currency US$
3rd Quarter 2017
Gold Sold 55,413 ozRevenue $70.9 MEarnings from Mine Operations $26.0 MWorking Capital $7.2 MAdjusted Earnings $8.3 M
Per Share Adjusted Earnings $0.05/shareTotal Cash Costs $656/oz soldAll-in Sustaining Cost $788/oz sold
Financial Summary
27
Local Employment
Brucejack Mine Workforce
As of Dec 2017
83% British Columbia
51% NW British Columbia
35% First Nations
28
Longhole Stoping
Active Stopes 12 stopes in the mining and
backfill cycle at all times
Dimensions 30 meter level spacing 45 meter maximum length 15 meter widths
Dilution Factors Primary Stopes
Target: 7%To Date: 10-12%
Secondary Stopes: Target: 15%
30 M SPACING
29
Underground Development
Asbuilt September 2017
1200 LVL Stopes
1230 LVL Stopes
1260 LVL Stopes
1320 LVL Stopes
1350 LVL Stopes
1380 LVL Stopes
Ore Flow DirectionView facing North West
Valley of The Kings Portal
Ventilation Raise
Ventilation Raise
VentilationRaise
Truck Dump to Crusher
30
Debt Structure
(1) See News Release dated Sept 15, 2015(2) Capped at 7.067 M oz and 26.279 M oz refined gold and silver, less production to Dec 31, 2019. Based on refined gold and silver that were
estimated to be available for sale in the June 2014 Feasibility Study for the Brucejack Project (3) See News Release dated Feb 14, 2017
Credit Facility(1)
US$350M loan 7.5% fixed interest Due Dec 2018 Option to extend to 2019 with payment of 2.5% of
principal and accrued interest
Offtake Agreement(1)
Option to repurchase 50% or 75% Dec 2018 for $11/oz or Dec 2019 for $13/oz
Capped at 7.067M oz gold
Callable 8% Stream(1,2)
US$150M advance payment 100% buyout option
Dec 2018 for $237M or Dec 2019 for $272M
Capped at 7.067M oz gold(2)
Convertible Notes(3)
US$100M offering at 2.25% due 2022 Conversion price of US$16.00
31
Brucejack Feasibility Study Profile
Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014; Mineral Reserve Update, see news release dated Dec. 15, 2016.
Mine Life 18 years
Feasibility Study Gold Production 7.27 million oz
Average Annual Gold Production
504,000 oz (years 1-8)
404,000 oz (life of mine)Gold and Silver Recoveries 96.7% and 90.0%
Processing Rate 2,700 tonnes per day
32
Mineral Reserve Estimate (LOM)1
Category Tonnes(mil)
Gold(g/t)
Silver(g/t)
Contained
Gold(mil oz)
Silver(mil oz)
Proven 1.4 7.2 383 0.3 17.4
Probable 1.5 6.5 181 0.3 8.6
Total P&P 2.9 6.9 279 0.6 26.0
Valley of the Kings
West Zone
(1) Source: Mineral Reserve Update, see news release dated December 15, 2016
Category Tonnes(mil)
Gold(g/t)
Silver(g/t)
Contained
Gold(mil oz)
Silver(mil oz)
Proven 3.3 14.5 12.9 1.6 1.4
Probable 12.3 16.5 11.3 6.5 4.5
Total P&P 15.6 16.1 11.1 8.1 5.9
33
Brucejack - Robust Economics
(1) Based on updated forecast of capital cost (see News Release dated February 3, 2017) and operating cost assumptions from the Feasibility Study and Technical Report Update on the Brucejack Project, with an effective date of June 19, 2014
(2) NPV is discounted to Dec 31, 2015.
Economic Results by Metal Price (1)
Low Case Base Case High Case
Gold Price (US$/oz) $800 $1,100 $1,400Silver Price (US$/oz) $10 $14 $18NPV(2) (5% US$M) Pre-Tax $1,050 $2,340 $3,620
After Tax $690 $1,530 $2,360Internal Rate of Return Pre-Tax 19.9% 34.4% 47.5%
After-Tax 16.5% 28.5% 39.1%Net Cash Flow (US$M) Pre-Tax $2,110 $4,220 $6,320
After-Tax $1,470 $2,820 $4,170Payback Pre-Tax 5.0 3.3 2.5
After-Tax 5.2 3.5 2.7
Exchange Rate (US$:C$) 0.75 0.75 0.75
34
Brucejack Mine
PVG : TSX/NYSEpretivm.com
Pretium Resources Inc.Suite 2300 – 1055 Dunsmuir St.Four Bentall CentrePO Box 49334Vancouver, BC, Canada V7X 1L4
Phone: 604-558-1784Fax: 604-558-4784Toll-free: 1-877-558-1784