Eagle’s C1 cash costs in 2020 are expected to reduce year-on-year to $0.85/lb nickel after by-product credits as higher grades from Eagle East reduce per pound unit costs.
1. Production guidance is based on certain estimates and assumptions, including but not limited to: Mineral Resources and Mineral Reserves, geological formations, grade and continuity of deposits and metallurgical characteristics.
2. 68% of Candelaria’s total gold and silver production are subject to a streaming agreement.
3. C1 cash costs are based on various assumptions and estimates, including, but not limited to: production volumes, as noted above, commodity prices (2020 - Cu: $2.35/lb, Zn: $0.85/lb, Ni: $5.25/lb, Pb: $0.75/lb, Au: $1,600/oz) foreign currency exchange rates (2020 - €/USD:1.15, USD/SEK:9.25, CLP/USD:800, SD/BRL:5.00) and operating costs. All figures in are in US$ unless otherwise noted.
4. 68% of Candelaria’s total gold and silver production are subject to a streaming agreement and as such C1 cash costs are calculated based on receipt of $412/oz and $4.12/oz, respectively, on gold and silver sales in the year. No consideration has been made for the upfront payment received in the calculation of C1 cash costs.
5. Chapada cash costs are calculated on a by-product basis and do not include the effects of copper stream agreements. Effects of copper stream agreements are reflected in copper revenue and will impact realized revenue per pound.
6. Silver production at Zinkgruvan and Neves-Corvo are also subject to streaming agreements, and cash costs are calculated based on approximately $4.40/oz and $4.30/oz.
7. Forecast capital expenditures have been reported on a cash basis. Discrepancies may exist with other external reports which have been reported on an accrual basis.