Q1 2011 at a glance
Q1 2011 at a glance
Picture: Macraes open pit waste rock stack, NZ
OceanaGold today
Philippines Luzon Baguio
OceanaGold is a significant Australasian gold producer, with a portfolio of operating, development and exploration assets. Assets are located on the South Island of New Zealand and in northern Philippines. OceanaGold is one of the largest Australasian based, gold producers.
Didipio
Manila
HQ
Operating: Financial Results
Mindanao
Q1 „11
Q4 „10
Q1 „10
US$m
90.7
93.8
48.3
US$m
44.0
49.3
8.5
Earnings before tax
US$m
22.3
30.4
(12.9)
Net earnings
US$m
14.8
21.0
1.8
EPS (diluted)
US$
0.06
0.08
0.01
Gold Produced
oz
65,671
67,007
65,291
Gold Price (ave rec‟d)
US$ / oz
1,401
1,379
743
Cash Operating Cost
US$ / oz
687
596
551
Cash Operating Margin
US$ / oz
714
783
192
Cash
US$m
193.6
181.3
88.3
Gold sales
New Zealand
Auckland
EBITDA1 1
Reefton Open Pit
Wellington Christchurch
Macraes Open Pit Frasers Underground
Dunedin
1. Excluding gain / (loss) on undesignated hedges
Production Growth Profile
Q1 2011 Highlights
500 Cash operating cost
700 600 500
300
400 200
300 200
Cash Operating Cost US$/oz
PH
400
Gold Production (Koz)
800 NZ
100 100 0
0 2011E
2012E
2013E*
2014E*
2015E*
* Assumes Didipio first full year of production is 2013 and using copper bi-product credits of US$3.00/lb Cu
Cash operating margins, US$714/oz, up 272% vs Q1 2010, 100% production sold on spot market Processing plant throughputs up 6% at Macraes and Reefton combined, total NZ recovery rate 83.4%, up 7% on Q4 2010 US$2.3m invested in exploration program mainly in NZ Didipio development activities commenced
FY 2011 Early Stage Guidance
Production 260,000 to 280,000 oz gold Cash costs: US$645 to $685 per oz US$9m exploration program in New Zealand Didipio construction to commence mid 2011
Investment Proposition
Solid production growth with declining cash cost profile Largest gold producing operation in New Zealand Pre construction of high grade gold - copper porphyry in Philippines to commission in Q4 2012 Strong management team with significant experience and proven track record in acquiring, developing and operating gold mines Extensive history of successful commitment to sustainability
www.oceanagold.com
Q1 2011 at a glance
Picture: Macraes open pit and trucks, NZ
Mineral Reserves
Production Profile
Operating Margin
Didipio Project
Sustainability
Social integrity, environmental diversity and equitable development; real lasting value to communities beyond life cycle of project. Sponsored medical missions (health, dental, optical) to Didipio communities 103ha reforestation, >250,000 seedlings and agricultural program in Didipio region, to date Scholarships and educational support in Philippines Macraes trout hatchery est. 2004 Macraes Heritage Art Park 15ha rehabilitation planting at Reefton Rigorous and ongoing health and safety training provided
Gold (Moz) Copper (t) Total Reserves
3.56
- New Zealand
2.15
170,000
- Philippines
1.41
170,000
Total Resources
9.47
326,000
M&I
6.61
271,000
- New Zealand
4.61
- Philippines
2.00
271,000
Inferred
2.86
55,000
- New Zealand
2.55
- Philippines
0.31
55,000
New Zealand Operations Macraes
Frasers
Reefton
Mine Type
Open Cut
Underground
Open Cut
Current Mine Life
~2019
~2014
~2017
120 -130
55 - 65
75 - 95
Au Prod ‟000 oz/p.a
Macraes: operating > 20 years Frasers: ongoing exploration program, deposit still open down dip Reefton: significant exploration upside, >10m oz historically mined from district
Other Information
Located in northern Luzon, Philippines High grade gold–copper porphyry 20 year mine reserve life Construction to commence mid 2011 On track to commission Q4 2012 Estimated production Year 1-6: 71k oz Au and 32m lb Cu Year 7+: 67k oz Au and 12m lb Cu Estimated cash costs (net of copper bi-product credits of US$3/lb Cu)
Year 1-6: negative US$331/oz Au Life of Mine: US$128/oz Au
Share Price
Convertible Notes
Senior Management Chairman: Jim Askew CEO: Mick Wilkes COO: Mark Cadzow Share Information Listings: “OGC” on Toronto (TSX), Australian (ASX) and New Zealand (NZX) Indices: ASX 200, TSX Composite, TSX Global Gold, TSX Global Mining, Market Vector Junior Gold Miners Market capitalisation ~US$800m Shares outstanding 262m Free float 100% Investor Relations Darren Klinck e:[email protected] t:+61 3 9656 5300
Historical closing share price relative performance Jan 2010 to April 2011
A$ denominated, conversion prices range from A$3.87 to A$4.10 per share.
www.oceanagold.com
Picture: Macraes open pit waste rock stack, NZ
OceanaGold today
Philippines Luzon Baguio
OceanaGold is a significant Australasian gold producer, with a portfolio of operating, development and exploration assets. Assets are located on the South Island of New Zealand and in northern Philippines. OceanaGold is one of the largest Australasian based, gold producers.
Didipio
Manila
HQ
Operating: Financial Results
Mindanao
Q1 „11
Q4 „10
Q1 „10
US$m
90.7
93.8
48.3
US$m
44.0
49.3
8.5
Earnings before tax
US$m
22.3
30.4
(12.9)
Net earnings
US$m
14.8
21.0
1.8
EPS (diluted)
US$
0.06
0.08
0.01
Gold Produced
oz
65,671
67,007
65,291
Gold Price (ave rec‟d)
US$ / oz
1,401
1,379
743
Cash Operating Cost
US$ / oz
687
596
551
Cash Operating Margin
US$ / oz
714
783
192
Cash
US$m
193.6
181.3
88.3
Gold sales
New Zealand
Auckland
EBITDA1 1
Reefton Open Pit
Wellington Christchurch
Macraes Open Pit Frasers Underground
Dunedin
1. Excluding gain / (loss) on undesignated hedges
Production Growth Profile
Q1 2011 Highlights
500 Cash operating cost
700 600 500
300
400 200
300 200
Cash Operating Cost US$/oz
PH
400
Gold Production (Koz)
800 NZ
100 100 0
0 2011E
2012E
2013E*
2014E*
2015E*
* Assumes Didipio first full year of production is 2013 and using copper bi-product credits of US$3.00/lb Cu
Cash operating margins, US$714/oz, up 272% vs Q1 2010, 100% production sold on spot market Processing plant throughputs up 6% at Macraes and Reefton combined, total NZ recovery rate 83.4%, up 7% on Q4 2010 US$2.3m invested in exploration program mainly in NZ Didipio development activities commenced
FY 2011 Early Stage Guidance
Production 260,000 to 280,000 oz gold Cash costs: US$645 to $685 per oz US$9m exploration program in New Zealand Didipio construction to commence mid 2011
Investment Proposition
Solid production growth with declining cash cost profile Largest gold producing operation in New Zealand Pre construction of high grade gold - copper porphyry in Philippines to commission in Q4 2012 Strong management team with significant experience and proven track record in acquiring, developing and operating gold mines Extensive history of successful commitment to sustainability
www.oceanagold.com
Q1 2011 at a glance
Picture: Macraes open pit and trucks, NZ
Mineral Reserves
Production Profile
Operating Margin
Didipio Project
Sustainability
Social integrity, environmental diversity and equitable development; real lasting value to communities beyond life cycle of project. Sponsored medical missions (health, dental, optical) to Didipio communities 103ha reforestation, >250,000 seedlings and agricultural program in Didipio region, to date Scholarships and educational support in Philippines Macraes trout hatchery est. 2004 Macraes Heritage Art Park 15ha rehabilitation planting at Reefton Rigorous and ongoing health and safety training provided
Gold (Moz) Copper (t) Total Reserves
3.56
- New Zealand
2.15
170,000
- Philippines
1.41
170,000
Total Resources
9.47
326,000
M&I
6.61
271,000
- New Zealand
4.61
- Philippines
2.00
271,000
Inferred
2.86
55,000
- New Zealand
2.55
- Philippines
0.31
55,000
New Zealand Operations Macraes
Frasers
Reefton
Mine Type
Open Cut
Underground
Open Cut
Current Mine Life
~2019
~2014
~2017
120 -130
55 - 65
75 - 95
Au Prod ‟000 oz/p.a
Macraes: operating > 20 years Frasers: ongoing exploration program, deposit still open down dip Reefton: significant exploration upside, >10m oz historically mined from district
Other Information
Located in northern Luzon, Philippines High grade gold–copper porphyry 20 year mine reserve life Construction to commence mid 2011 On track to commission Q4 2012 Estimated production Year 1-6: 71k oz Au and 32m lb Cu Year 7+: 67k oz Au and 12m lb Cu Estimated cash costs (net of copper bi-product credits of US$3/lb Cu)
Year 1-6: negative US$331/oz Au Life of Mine: US$128/oz Au
Share Price
Convertible Notes
Senior Management Chairman: Jim Askew CEO: Mick Wilkes COO: Mark Cadzow Share Information Listings: “OGC” on Toronto (TSX), Australian (ASX) and New Zealand (NZX) Indices: ASX 200, TSX Composite, TSX Global Gold, TSX Global Mining, Market Vector Junior Gold Miners Market capitalisation ~US$800m Shares outstanding 262m Free float 100% Investor Relations Darren Klinck e:[email protected] t:+61 3 9656 5300
Historical closing share price relative performance Jan 2010 to April 2011
A$ denominated, conversion prices range from A$3.87 to A$4.10 per share.
www.oceanagold.com
