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Sandfire Resources : MATSA Site Tour Investor Presentation

06/29/2022 | 09:52pm EDT

ersonal use only

MATSA Copper Operations

Site Tour Information Pack

30 June 2022

Important Information and Disclaimer

This presentation has been prepared by Sandfire Resources Ltd (Sandfire or the Company) and contains information about Sandfire current at the date of this presentation. The presentation is in summary form, has not been independently verified and does not purport to be all inclusive or complete. The Company is not responsible for providing updated information and assumes no responsibility to do so. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

onlyThis presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction and may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the pinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when

deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Sandfire, its related bodies corporate, and each of their officers, employees, agents and advisers expressly disclaim, to the maximum extent permitted by law, all liabilities (however caused, including negligence) in respect of, make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information,

usestatements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified.

This presentation should be read in conjunction with the Company's other ASX announcements, available via the Company Announcements Platform (ASX Code: SFR) and Sandfire's website at www.sandfire.com.au.

This presentation is authorised for market release by Sandfire's Managing Director and CEO, Mr Karl Simich.

Any information in this presentation that relates to the MATSA Mineral Resource estimate for 2021 is extracted from the report titled '147Mt Mineral Resource sets strong foundation for optimisation

nd long-term growth at MATSA' released to the Australian Securities Exchange (ASX) on 30 June 2022 and is available to view at www.sandfire.com.auand for which Competent Person's consent was obtained. Competent Person's consent remains in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.


Key assumptions

The following assumptions apply to information in this presentation unless otherwise stated.

Currency: unless otherwise stated, all figures are in USD.

Figures, amounts, percentages, estimates, calculations of value and other factors used in this presentation are subject to the effect of rounding.


Important Information and Disclaimer

Forward-Looking Statements

This presentation may include forward-looking statements regarding Sandfire's Mineral Resources and Reserves, exploration and project development, operations, production rates, life of mine, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as well as general market outlook. Although Sandfire believes that the expectations

reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results,


performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements and no assurance can be given that such expectations will prove to have

been correct. There is also continuing uncertainty as to the full impact of the COVID-19 pandemic on Sandfire's business, the Australian economy, share markets and the economies in which Sandfire

conducts business.

Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in

project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and

business and operational risk management.

Except for statutory liability which cannot be excluded, each of Sandfire, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material

contained in these forward-looking statements and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any


information in forward-looking statements or any error or omission. Sandfire undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or

circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly, you should not place undue

reliance on any forward-looking statement.



MATSA | A cornerstone copper mining operation in a Tier 1 jurisdiction

MATSA is comprised of three

Description of MATSA

underground mines, and one

central processing facility


100% Sandfire effective 1 February 2022

located at Aguas Teñidas


43 exploitation concessions covering 53.3km2 and application for four additional1

• Three producing mines (Aguas Teñidas, Magdalena and Sotiel)

Significant exploration footprint


Underground mining using a combination of longitudinal and transverse longhole open stoping

• Significant automation and state-of-the-art infrastructure


A world class central processing facility that was expanded to 4.7Mtpa with flexibility to treat


cupriferous and polymetallic ore


Close to major towns (Huelva 85km, Seville 130km); access to national power and water


utilities; road and port logistics

Key Operating Metrics


2022 Resources: 147Mt; 2.1Mt Cu @1.4%, 4.4Mt Zn @3.0%, 1.5Mt Pb @1.0%

Resources &

2020 Reserves: 36Mt; 0.6Mt Cu @1.8%, 0.9Mt Zn @2.6%, 0.3Mt Pb @0.8%

Ore Reserves2


12 years based on reserves and M&I resources

Mine Life


Cu: ~27kt; Zn: ~38kt; Pb: ~3kt; Ag: ~1.1Moz contained


Payability: Cu 95%, Zn 83%, Pb 88%, Ag 61%


guidance (from

1 Feb 2022)

FY2022 Cost

C1 USD0.98/lb Cu payable (net of by-product)

guidance (from

Gross operating costs USD3.11/lb Cu payable

1 Feb 2022)

• USD32m underground development, USD11m sustaining capital

Notes: (1) Pending approval, (2) Refer to ASX release dated 23 September 2021 "Transformational Acquisition of the MATSA Mining Complex" for Ore Reserves and ASX release dated 30 June 2022


"147Mt Mineral Resource sets strong foundation for optimisation and long-term growth at MATSA".

MATSA | Three mines and a central processing facility

Aquas Teñidas Mine

Sotiel mine

Commercial Production1


Commercial production



Ore type

Cupriferous & polymetallic

Ore Type

Cupriferous, stockwork & polymetallic

Mining method

• Bottom-up longhole open stoping with

Mining Method

• Transverse open stoping with paste backfill

unconsolidated rockfill

Mining rate

~2.0Mtpa ore

Mining rate

~0.5Mtpa ore

Mineral Resources


• 51.3Mt; 0.7Mt Cu @1.1%, 1.5Mt Zn @3.3%, 0.5Mt

Mineral Resources2

• 51.0Mt; 0.6Mt Cu @1.1%, 1.6Mt Zn @3.3%,

0.7Mt Pb @1.4% (2022)

Pb @0.9% (2022)

Ore Reserves


• 14.5Mt; 0.2Mt Cu @1.3%, 0.4Mt Zn @2.8%, 0.1Mt

Ore Reserves2

• 3.4Mt; 0.05Mt Cu @1.4%, 0.1Mt Zn @2.3%,

0.03Mt Pb @1.0% (2020)

Pb @0.8% (2020)


Max current depth


Max Current Depth


Magdalena Mine

Central processing facility

Commercial Production



4.7Mtpa (capacity)

Ore Type

Cupriferous, stockwork & polymetallic

Mining Method

• Bottom-up longhole open stoping with

Cu (cupriferous): 87%


unconsolidated rockfill


Cu (polymetallic): 72%

Mining rate

~2.2Mtpa ore

Zn: 76%

Mineral Resources2

• 25.2Mt; 0.6Mt Cu @2.4%, 0.8Mt Zn @2.8%, 0.2Mt

Pb: 19%

Pb @0.8% (2022)

Ore Reserves2

• 18.1Mt; 0.4Mt Cu @2.2%, 0.5Mt Zn @2.5%, 0.1Mt

Pb @0.7% (2020)


• Cu, Zn, Pb concentrate (polymetallic ore)

Max Current Depth


Cu concentrate (cupriferous ore)

Notes: (1) This is the first time commercial production was achieved by MATSA (2) Refer to ASX release dated 23 September 2021 "Transformational Acquisition of the MATSA Mining Complex" for Ore Reserves and ASX release dated 30 June 2022 "147Mt Mineral Resource sets strong foundation for optimisation and long-termgrowth at MATSA".


This is an excerpt of the original content. To continue reading it, access the original document here.


Sandfire Resources NL published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 01:51:01 UTC.

© Publicnow 2022
07/27TRANSCRIPT : Sandfire Resources Limited, Q4 2022 Earnings Call, Jul 28, 2022
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Sales 2022 1 362 M 939 M 939 M
Net income 2022 264 M 182 M 182 M
Net Debt 2022 482 M 332 M 332 M
P/E ratio 2022 7,08x
Yield 2022 2,77%
Capitalization 1 870 M 1 289 M 1 289 M
EV / Sales 2022 1,73x
EV / Sales 2023 2,12x
Nbr of Employees 251
Free-Float 96,1%
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Karl Matthew Simich Chief Executive Officer, MD & Executive Director
Matthew Leslie Fitzgerald Chief Financial Officer & Secretary
John Richards Non-Executive Chairman
Jason Grace Chief Operating Officer
Roric Smith Independent Non-Executive Director
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