Slide 1: Corporate Presentation
Corporate Presentation June 2014 Innovation Performance Growth
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Notes - Information Purposes Only The information contained in this presentation is provided by OceanaGold Corporation (“OGC”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securiti
Slide 3: OceanaGold Today
OceanaGold Today Multinational gold producer generating strong free cash flows Philippines New Zealand Luzon Baguio Didipio Auckland Manila Reefton Wellington Blackwater Christchurch Macraes Round Hill Frasers Dunedin Mindanao Markets: OGC Market Capitalisation1 Shareholder Geo. Breakdown2 Australia
Slide 4: OceanaGold Value Proposition
OceanaGold Value Proposition Commitment MANAGEMENT Experience SOCIAL LICENSE STRATEGY OCEANAGOLD Discipline Execution GROWTH OPERATIONS Free Cash Flow 4 OceanaGold Corporation Innovation Performance Growth
Slide 5: Experienced Management Team
Experienced Management Team Mick Wilkes Managing Director & Chief Executive Officer • 30 years industry experience • Developed major projects in Australia & SE Asia • Strong Operations background in hard rock mining • Strong in Community and Government relations • Extensive SE Asian experience Micha
Slide 6: OceanaGold Vision & Strategy
OceanaGold Vision & Strategy We will be a mid-tier, multinational gold producer delivering superior shareholder returns in a safe and sustainable manner by developing and operating high quality assets. We will be the partner, employer and mining company of choice. Commitment to Optimise mines Sustai
Slide 7: Strategy on Growth
Strategy on Growth Investing in high quality organic or external value add opportunities Effective use of capital through investment in first and second quartile assets Leveraging experience and capabilities Focus on Asia-Pacific and Americas regions Clear definition of investment criteria Leveragin
Slide 8: 2014 Guidance
2014 Guidance On track to meet full year guidance New Zealand Didipio Total Company Combined Gold Production Guidance 85,000 – 95,000 190,000 – 210,000 275,000 – 305,000 (ounces) Copper Production Guidance 21,000 – 24,000 - 21,000 – 24,000 (tonnes) Cash Cost Guidance (per ounce) ($725) – ($650)1 $84
Slide 9: First Quarter 2014 Highlights
First Quarter 2014 Highlights Continued strong quarterly performance on the back of record results Gold Production Record quarterly revenue of $170m, EBITDA of 86,568 ounces $101m and net profit of $59m Copper Production Debt repayment of $20m, liquidity increased to 6,479 tonnes $92m including $42m
Slide 10: Financial Position
Financial Position Increasing cash and decreasing debt level Q4 2013 Q1 2014 Liquidity Cash $25m $42m Undrawn Revolving Credit Facility $30m $50m Core Debt Term Facility $129m $129m Revolving Credit Facility $20m – Repayment of Borrowings $45m $20m • Increase in cash position at end of Q1/14 total
Slide 11: Macro & Comparatives
Financial Summary Macro & Comparatives 11 OceanaGold Corporation Innovation Performance Growth
Slide 12: Global AISC Curve Comparative
Global AISC Curve Comparative 1,600 All-In Sustaining Cost Curve 1,400 Gold Price (as at 26 May 2014) 1,200 All-in Sustaining cost ($/oz Au) 1,000 800 600 OceanaGold AISC 2014 Range Combined 400 200 0 -200 -400 Q1 Q2 Q3 Q4 -600 -800 0 10 20 30 40 50 60 70 80 90 100 Cumulative Production (Percentile)
Slide 13: Share Price Performance Comparative
13 -80% -60% -40% -20% 0% 100% 20% 40% 60% 80% Osisko Mining Corp. Semafo Inc. Northern Star Resources OceanaGold Corporation Source: Paradigm & Bloomberg OceanaGold Corp. Primero Mining Corp. OZ Minerals Alacer Gold Corp. B2Gold Corp. Evolution Detour Gold Corporation Gold Spot Price (US$/oz) Beade
Slide 14: Free Cash Flow Yield Comparative
Free Cash Flow Yield Comparative Well positioned to strengthen balance sheet and invest in further value creation Free Cash Flow Yield Estimates 40% 30% 20% FCF Yield 10% 0% -10% -20% Agnico-Eagle AuRico OceanaGold SEMAFO Northern Star Beadell Newcrest Yamana Detour Gold Goldcorp Primero Medusa B2Go
Slide 15: Philippines Operations
Philippines Operations 15 OceanaGold Corporation Innovation Performance Growth
Slide 16: Philippines Overview
Philippines Overview Increasing gold production, strong copper production at Didipio Plan to mill 3 million tonnes of ore in 2014 and increase throughput rate to 3.5 Mtpa by year end Didipio’s connection to power grid on track to Q1 2014 Didipio Results commence construction in middle 2014 Gold prod
Slide 17: Didipio Mine
Didipio Mine LOM Nominal Production Gold: 100,000 oz Copper: 14,000 t Proven & Probable Reserves1 Gold: 1.59 Moz Copper: 210 kt Measured & Indicated Resources1 Gold: 2.06 Moz Copper: 260 kt Inferred Resources1 Gold: 0.30 Moz Copper: 30 kt Average Reserve Grade Gold: 1.1 g/t Copper: 0.46% Mine Type a
Slide 18: Didipio Optimisation Study
Didipio Optimisation Study Optimisation study underway to maximise value from the Didipio operations Didipio Process Plant Ramp-Up Schedule 4.0 300 Debottlenecking of process plant to achieve 3.5 3.5 250 Mtpa rate by end of 2014 Production (ounces) Throughput (Mtpa) 3.0 200 2.5 2.0 150 1.5 100 1.0 5
Slide 19: Didipio Underground Overview
Didipio Underground Overview High grade underground provides significant optionality Current Plan Development: 2016 Production: 2019 Optimisation Examining the timing and design Expected Results Q4 2014 Updated NI43-101 Underground Metrics Capex: $100m / 4 yrs Mining rate: 1 Mtpa Sub-level open stop
Slide 20: New Zealand Operations
New Zealand Operations 20 OceanaGold Corporation Innovation Performance Growth
Slide 21: New Zealand Overview
New Zealand Overview Mitigated downside risk of a lower gold price while maintained optionality with a higher gold price Production de-risked over the next two years through utilised zero cost collar hedging 2014 gold production expected lower than 2013 due to reduced movements and lower grades at M
Slide 22: New Zealand Assets
New Zealand Assets Maximising cash flows through mine re-optimisation and cost reductions Macraes Frasers Reefton NZ Combined Mine Type Open pit Underground Open pit Nominal production koz 90 – 120 40 – 55 50 – 70 180 – 245 1 P&P Reserves Moz 1.23 0.12 0.19 1.54 1 M&I Resources Moz 3.15 0.86 0.74 4.
Slide 23: New Zealand Studies
New Zealand Studies Maximising value from New Zealand through organic growth opportunities Round Hill Gold/Tungsten M&I Resource1 of 1.26 Moz gold, sterilised by current location of process plant Resource definition and metallurgical test work underway Conceptual design includes build of new but rel
Slide 24: Sustainability
Sustainability 24 OceanaGold Corporation Innovation Performance Growth
Slide 25: Investing in Our Local Communities
Investing in Our Local Communities Working together with our communities to leave a positive, long lasting legacy Employment Education Infrastructure • Hire locally policy • Teachers salaries • New roads and improvements • 98% Filipino workforce • Scholarship programs • Bridges, waterways Health Ent
Slide 26: Sustainable Development Today and Beyond
Sustainable Development Today and Beyond An unwavering commitment to our social responsibilities beyond mining Agroforestry Environment Rehabilitation • Reforestation initiatives • Reducing GhG emissions • Restoring lands to match area • Commercial plantations • Effective water management • Preservi
Slide 27: Outlook
Outlook Didipio throughput rates ramping up to planned 3.5 Mtpa capacity by end of 2014 Strong start to 2014 and on track to meet full year production guidance Continued focus on optimising operations to maximise cash flows Strengthen balance sheet through further debt repayment Identify and evaluat
Slide 28: oceanagold.com
oceanagold.com Innovation Performance Growth
Slide 29: Board of Directors
Board of Directors Jim Askew (Chairman) - Mr. Askew is a mining engineer with over 35 years broad international experience as a Director/CEO for a wide range of international publicly listed mining, mining finance, and other mining related companies. He has served on the board of numerous resource p
Slide 30: El Salvador
El Salvador Nominal investment in a high quality resource w/ significant upside potential Measured & Indicated Resources1 Belize Guatemala Gold: 1.30 Moz Silver: 9.48 Moz Honduras Inferred Resources1 El Salvador Gold: 0.30 Moz Silver: 1.9 Moz Nicaragua M&I Average Grade Costa Rica Gold: 9.42 g/t Sil
Slide 31: FTAA Exploration Opportunities
FTAA Exploration Opportunities Drilling Highlights (MetEx): 31m @ 0.35 g/t Au & 0.85% Cu 28m @ 0.65 g/t Au & 0.27% Cu 13m @ 0.75 g/t Au & 0.25% Cu Cabinwangan Mogambos 7m @ 1.16 g/t Au & 0.57% Cu 1.6 KM Rock Sampling Highlights: 8.09 g/t Au & 4.21% Cu 1 KM 3.20 g/t Au & 1.73% Cu 2.86 g/t Au & 2.09%
Slide 32: Q1 2014 Results Summary
Q1 2014 Results Summary Total Didipio Macraes Reefton Company Gold Production (ounces) 30,480 40,668 15,420 86,568 Copper Production (tonnes) 6,479 – – 6,479 Gold Sales (ounces) 36,264 39,242 18,544 94,050 Copper Sales (tonnes) 7,752 – 7,752 Cash Cost (per ounce sold) ($490)1 $584 $1701 All-In Susta
Slide 33: Q1 2014 Financial Results
Q1 2014 Financial Results USDm Q1 2014 Q4 2013 Q1 2013 Revenue 170.4 170.1 95.6 Operating costs1 (69.4) (73.6) (48.5) EBITDA2 101.0 96.5 47.1 Depreciation & amortisation (33.4) (34.9) (29.5) Net interest & finance costs (2.4) (8.0) (6.4) Earnings before tax2 65.2 53.7 11.2 Income tax expense (5.4) (
Slide 34: Q1 2014 Cash Flows
Q1 2014 Cash Flows USDm Q1 2014 Q4 2013 Q1 2013 Opening cash balance 24.8 14.7 96.5 Operating cash inflows 73.3 89.0 21.4 Investing expenditure (24.1) (33.2) (65.0) Financing cash inflows/(outflows) (25.2) (50.0) (25.7) Foreign exchange effect (6.7) 4.3 0.2 Net cash (decrease)/increase 17.3 10.1 (69
Slide 35: Mineral Resources and Reserves (as at Dec 31, 2013)
Mineral Resources and Reserves (as at Dec 31, 2013) RESOURCES MEASURED INDICATED MEASURED & INDICATED INFERRED RESOURCE Au Au Ag Ag Cu Cu Au Au Ag Ag Cu Cu Au Au Ag Ag Cu Cu Au Au Ag Ag Cu Cu AREA Mt g/t Moz g/t Moz % Mt Mt g/t Moz g/t Moz % Mt Mt g/t Moz g/t Moz % Mt Mt g/t Moz g/t Moz % Mt MACRAES