2018 FOURTH QUARTER AND YEAR END RESULTS March 7, 2019 PG:TSX www.premiergoldmines.com
Disclaimer This Presentation contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company’s achievement of the full-year projections for ounce production, production costs, AISC costs per ounce, cash cost per ounce and realized gold/silver price per ounce, the Company’s ability to meet annual operations estimates, and statements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this Presentation is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. This presentation has been completed by Premier. Certain corporate projects referred to herein are subject to agreements with third parties who have not prepared, reviewed nor approved this presentation. The presentation is not intended to reflect the actual plans or exploration and development programs contemplated for such projects. Please refer to Appendix A-3 for cautionary notes on non IFRS measures and production guidance. Forei eign Exchange As Assump umptions ons Effective January 1, 2018, the Company has changed its presentation currency to U.S. dollars. This change is applied retroactively to restate comparative financial statements. Unless otherwise stated, all amounts discussed herein are denominated in U.S. dollars. This Accounting policy change is discussed in Note 2(f) to the December 31, 2018 audited consolidated financial statements of the Company. Ca Caut ution onary Notes to to Inve nvestors - Reser erve and nd Resour ource Estimates In accordance with applicable Canadian securities regulatory requirements, all mineral reserve and mineral resource estimates of the Company disclosed this Presentation have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), classified in accordance with Canadian Institute of Mining Metallurgy and Petroleum's "CIM Standards on Mineral Resources and Reserves Definitions and Guidelines" (the "CIM Guidelines"). Pursuant to the CIM Guidelines, mineral resources have a higher degree of uncertainty than mineral reserves as to their existence as well as their economic and legal feasibility. Inferred mineral resources, when compared with measured or indicated mineral resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Pursuant to NI 43-101, inferred mineral resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral Reserve, or is or will ever be economically or legally mineable or recovered. Premier is not aware of any environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the Mineral Resource estimate. The scientific and technical information contained in this Presentation has been reviewed by Stephen McGibbon, P. Geo., (Executive VP Corporate and Project Development) and a Qualified Person within the meaning of National Instrument 43-101. For further information on the technical data provided in this Presentation, including the key assumptions underlying the mineral resource herein, refer to the Sedar filings as listed below: Note No e Proj Projec ect/P /Prop oper erty Com ompany Date (1) Hasaga Premier Gold Mines Limited December 30, 2016 (2) Hardrock Property Premier Gold Mines Limited December 21, 2016 (3) McCoy-Cove Premier Gold Mines Limited June 29, 2018 (4) Mercedes Premier Gold Mines Limited April 18, 2018 2
Management Participants Ewan Downie – President & Chief Executive Officer Steve Filipovic – Chief Financial Officer Brent Kristof – Senior Vice-President – Operations 3
Building a Mining Business Delivering a Production Pipeline • 100% North American focus • World-class mining districts • Safe jurisdictions • Sensible partnerships • Low-cost production: • 2 mining operations • 4 advanced-stage projects: • El Niño, Nevada Greenstone Gold • Hasaga P1 pit, Nevada Rahill-Bonanza • South-Arturo Cove, Nevada McCoy-Cove • Hardrock, Ontario Rye-Goldbanks • Strong treasury Mercedes • $43.9M (December 31, 2018) • Q1-2019 – completed $18.3M financing/silver stream as well as US$50M revolver • Focus on exploration to grow Production Exploration/Development reserves and resources See Disclaimer page for notes and forward-looking statements. 4 See the Company’s December 31, 2018 audited consolidated financial statements and 2018 year end MD&A.
Building a Mining Business Reserve & Resource Growth and Replacement 4,000 Gold Ounces 3,500 3,000 Gold Ounces (000’s) 2,500 2,000 1,500 1,000 500 - 2015 2016 2017 2018 Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade (Mt) (g/t Au) (Mt) (g/t Au) (Mt) (g/t Au) (Mt) (g/t Au) P+P 0.86 1.08 74.42 1.17 76.77 1.22 77.08 1.21 M+I 55.91 1.77 66.10 1.44 74.57 1.48 76.12 1.46 Inferred 16.38 3.69 42.10 1.94 44.41 2.50 44.96 2.47 See Disclaimer page for notes and forward-looking statements 5
Mining Operations Focused on Quality Production • Sou South Art Arturo: : 2 new mining operations in construction • Mer ercedes: s: Achieving sustainable production, replacing reserves & resources 2019 20 19 Prod oductio ion Gui uidance Gold Silver Cash Costs AISC PROPERTY (Au ozs) (Ag ozs) ($/oz Au) ($/oz Au) Mercedes 75,000 - 85,000 225,000 - 250,000 730 - 780 900 - 950 TOTAL 75, 75,00 000 – 85, 85,000 00 225,000 225, 0 - 250, 250,00 000 730 - 780 730 780 900 - 950 900 950 20 2019 19 Pre-Commercial l Prod oductio tion* Gold *Premier’s proportionate share of development capital PROPERTY at South Arturo for 2019 (excluding proceeds from pre- (Au ozs) commercial production gold sales) is $39 million. Proceeds from pre-commercial production gold sales will South Arturo 5,000 - 10,000 be credited against development capital. TOTAL 5,000 5, 000 - 10, 10,00 000 So Sout uth Art Arturo, Ne Nevada • Construction of Phase 1 Open Pit & El Niño U/G mines underway • Phase 3 & East Dee offer future production opportunities • Refining potential heap leach mining option Mer Mercedes, Me Mexic ico • Achieving sustainable production levels with low operating costs • 2019 drill program targeting resource and reserve replacement • Complete underground definition drill program at Marianas See Disclaimer page for notes and forward-looking statements 6
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