{ "docId": "019de518-4b45-729f-8864-2b1516f7ac2a", "docSlug": "45bb294016302d177539020bae1535a6", "documentTitle": "Gatos Silver | Investor Presentation Deck | 40 slides", "authorId": "gatos-silver", "authorName": "Gatos Silver", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 38, "pageCount": 40, "prevPage": 37, "nextPage": 39, "slideType": "appendix", "function": "appendix", "density": "overcrowded", "nDataPoints": 20, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de518-4b45-729f-8864-2b1516f7ac2a/38", "deckHref": "/decks/019de518-4b45-729f-8864-2b1516f7ac2a", "deckJsonHref": "/decks/019de518-4b45-729f-8864-2b1516f7ac2a.json", "deckAnchorHref": "/decks/019de518-4b45-729f-8864-2b1516f7ac2a#slide-38", "components": [ { "bbox": { "h": 0.06, "w": 0.12, "x": 0.82, "y": 0.06 }, "kind": "image", "text": null, "attrs": {}, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "86b6d245-b22f-404a-8b0b-27b31e4febb1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.26, "w": 0.45, "x": 0.528, "y": 0.693 }, "kind": "paragraph", "text": "Slide 13: CLG Cost Optimization\n(1) Source: S&P Capital IQ. Mexico's CPI was 104.84 average in Q4 2020 and 126.62 average in Q4 2023.\n(2) Source: S&P Capital IQ. The Mexican peso exchange rage strengthened from 20.58 per USD at the end of Q4 2021 to 16.92 per USD at the end of Q4, 2023.\n(3) Source: Bank of Mexico, salary trends survey.\n(4) See Non-GAAP Financial Performance Measures slides and reconciliations on slides 32-37.\n(5) Peers include Hecla, Coeur, First Majestic, Fresnillo, and Endeavour Silver (SilverCrest and MAG are excluded as they were not in operation in 2021). CLG and Peer AISC is indexed to 100 for the year 2021. Peer AISC figures for 2023 are based on the latest available reporting which is either full-year 2023, or September 2023 YTD. Peer costs include both silver and gold operations to reflect the cost base of their operating portfolios. Where peers only report cash costs, sustaining capital has been included to calculate AISC. Peer costs include both those that report By-product AISC and Co-product AISC.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "311a92e0-4893-46b5-a0e0-1946d31120e8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.45, "x": 0.528, "y": 0.463 }, "kind": "paragraph", "text": "Slide 11: 2023 Achievements\n(1) See Non-GAAP Financial Performance Measures slides and reconciliations on slides 32-37.\n(2) Financial metrics are calculated using the 2023 LOM base case prices of $22/oz Ag, $1.20/lb Zn, $0.90/lb Pb, $1,700/oz Au, $3.50/lb Cu and an exchange rate of 20.00 Mexican Pesos per US$1.00. Financial and cost metrics exclude exploration costs related to future resource expansion and conversion. Free cash flow is on an after-tax basis.\n(3) See Non-GAAP Financial Performance Measures slides and reconciliations on slides 32-37.\n(4) Percentage is based on silver's contribution to silver equivalent production, calculated as described on slide 2.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3458cbd9-91f8-4d5c-a135-4af51838673a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.45, "x": 0.052, "y": 0.183 }, "kind": "paragraph", "text": "Slide 4: Gatos Silver, Inc.\n(1) Percentage is based on silver's contribution to silver equivalent production, calculated as described on slide 2.\n(2) See Non-GAAP Financial Performance Measures slides and reconciliations on slides 32-37.\n(3) As of January 31, 2024 which was reported with our Q4 2023 financial results. Does not include the February 2024 LGJV partner distribution, from which GSI received $21M.\n(4) As of February 23, 2024", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6bb23cc1-e655-48aa-bf6c-3309eb028956", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.45, "x": 0.052, "y": 0.74 }, "kind": "paragraph", "text": "Slide 7: Meaningful Near-Term Growth Targets\n(1) Please refer to forward looking statements on slide 2 regarding potential conversion of inferred resources to indicated or measured.\n(2) The 2023 Mineral Reserve and 2023 Mineral Resource is disclosed in the Technical Report Summary dated October 20, 2023 (the \"Los Gatos Technical Report\") which is filed with the SEC and available on the Company's website (https://gatossilver.com). A corresponding technical report has also been filed on SEDAR+.\n(3) This table presents select drill results only received since the 2023 resource database cutoff date of March 31, 2023. See press releases dated July 18, 2023, October 23, 2023 and January 25, 2024 for further information including all drilling results.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7df4f855-3dee-4217-92cc-dd045bab9bc8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.26, "w": 0.45, "x": 0.528, "y": 0.183 }, "kind": "paragraph", "text": "Slide 10: 2024 Guidance\n(1) Silver equivalent production is calculated using prices of $23/oz silver, $1.20/lb zinc, $0.90/lb lead and $1,800/oz gold to \"convert\" zinc, lead and gold production contained in concentrate to \"equivalent\" silver ounces (contained metal, multiplied by price, divided by silver price). For 2023, silver equivalent production was calculated using prices of $22/oz silver, $1.20/lb zinc, $0.90/lb lead and $1,700/oz gold. For comparative purposes, the calculated silver equivalent production for 2024 guidance at 2023 price assumptions would be 13.7-15.3 million ounces.\n(2) See Non-GAAP Financial Performance Measures and reconciliations on slide 32-37.\n(3) See Non-GAAP Financial Performance Measures on slide 32 and breakdown of cash flows used by investing activities on slide 36.\n(4) In 2023, $13.5 million was capitalized as resource development drilling and $2.9 million was expensed as exploration expense. In 2024, $9 million is expected to be capitalized as resource development drilling and $9 million is expected to be expensed as exploration expense.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "96dcf617-639a-490a-ad23-c007626c3b52", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.33, "w": 0.45, "x": 0.052, "y": 0.39 }, "kind": "paragraph", "text": "Slide 5: Cerro Los Gatos\n(1) Source: S&P Capital IQ and company filings. The group of largest operations and corresponding production is sourced from S&P Capital IQ's Metals & Mining database considering primary silver mines, ranked by silver equivalent production for 2023 where available, except for Dukat (Polymetal) where data is from 2022. Silver equivalent production is calculated as described on slide 2 for CLG and peers.\n(2) See Non-GAAP Financial Performance Measures slides and reconciliations on slides 32-37.\n(3) Peers include Hecla, Coeur, First Majestic, Fresnillo, MAG, SilverCrest and Endeavour Silver. Peer AISC figures are based on the latest available reporting which is either full-year 2023, or September 2023 YTD. Peer costs include both silver and gold operations to reflect the cost base of their operating portfolios. Where peers only report cash costs, sustaining capital has been included to calculate AISC. Some peers only report By-product AISC, while others only report Co-product AISC; both methods are shown for Gatos Silver, with the respective peers included in one or the other method based on how the peer reports.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ee92bd98-7205-4a29-ba60-08e2f076e60b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.015, "w": 0.017, "x": 0.958, "y": 0.95 }, "kind": "source-note", "text": "38", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f779a1f7-8ee4-4757-a06f-00a07eb4ebb2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.16, "x": 0.052, "y": 0.08 }, "kind": "title", "text": "Endnotes", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "893aa4b8-4639-4e16-b870-683aa3b04672", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }