Centerra Gold Inc. · TSX:CG
Centerra Gold — Q1 2017 Earnings Presentation
20 slides from Centerra Gold's earnings presentation, May 2, 2017
Slide 1: Q1 2017 Results
Q1 2017 Results Conference Call – May 2, 2017 TSX: CG www.centerragold.com
Slide 2: Senior Management Participants
Senior Management Participants SCOTT PERRY Chief Executive Officer FRANK HERBERT President GORDON REID Chief Operating Officer DARREN MILLMAN Chief Financial Officer May 2017 2
Slide 3: Caution Regarding Forward-Looking Information
Caution Regarding Forward-Looking Information Information contained in this presentation which are not statements of historical facts, and the documents incorporated by reference herein, may be “forward-looking information” for the purposes of Canadian securities laws. Such forward-looking informati
Slide 4: Q1 2017 Results – May 2, 2017
Q1 2017 Results – May 2, 2017 Scott Perry – CEO TSX: CG www.centerragold.com
Slide 5: Q1 2017 Corporate Update
Q1 - 2017 Corporate Update Safety – Continue to roll out “Work Safe : Home Safe” Program Across the Company Achieved Q1 2017 Net Earnings of $57 Million or $0.20 Cents Per Share, (basic) Strong Gold Production of 172,644 Ounces and Copper Production of 12.6 million pounds Centerra’s Q1 2017
Slide 6: Q1 2017 Corporate Update: Cash Flow and Balance Sheet
Q1 - 2017 Corporate Update Q1 - 2017: May 2017 Internally Funded Business (US$) Balance Sheet (US$) 550 32 46 (as of March 31, 2017) 102 Unrestricted 69 Cash 500 $81MM 450 25 409 13 US$ Millions 400 32 358 Debt 350 $438MM Restricted Cash 300 $277MM 250 200 1 2016 Cash Kumtor Ops Mt Milligan Working
Slide 7: Q1 2017 Operating Results – Gordon Reid, COO
Q1 2017 Operating Results – May 2, 2017 Gordon Reid – COO TSX: CG www.centerragold.com
Slide 8: Operating Highlights
Operating Highlights Q1 2017 gold production - Kumtor 127,400 ounces, Mount Milligan 45,244 ounces1 Q1 2017 copper production - Mount Milligan 12,595,000 pounds1 Kumtor received the necessary permits to raise its tailings dam and the MAD approval for discharging treated effluent in 2017 Mount Millig
Slide 9: Mount Milligan - Update
Mount Milligan - Update Continue to optimize comminution circuit Focus on optimizing the mine and mill to increase gold and copper recoveries Mill throughput averaged 53,000 tpd for Q1, highest monthly average of 58,000 tpd May 2017 9
Slide 10: Öksüt: Powerline Construction
Öksüt: Powerline Construction May 2017 10
Slide 11: Q1 2017 Financial Results – Darren Millman, CFO
Q1 2017 Financial Results – May 2, 2017 Darren Millman – CFO TSX: CG www.centerragold.com
Slide 12: Financial Highlights
Financial Highlights1 Quarter Ended Quarter Ended (in thousands, except ounces, per share amounts, and average realized price3) March 31, 2017 March 31, 20162 Revenue $285,342 $73,221 Total gold ounces sold 187,914 61,744 Total copper pounds sold (000’s) 13,612 - Operating cash flow before changes i
Slide 13: Other Financial Highlights
Other Financial Highlights Debt repayments of US$37.5 Million, outstanding debt US$437.5 Million at March 31, 2017 Implemented a balanced copper hedging program Executed 19,000 gold ounces zero cost collar hedges for Mount Milligan gold production On Track to Achieve 2017 Production and Cost Guidanc
Slide 14: Q1 2017 Results Summary – Scott Perry, CEO
Q1 2017 Results – May 2, 2017 Summary – Scott Perry, CEO TSX: CG www.centerragold.com
Slide 15: Centerra: Built For Success
Centerra: Built For Success Corporate Highlights Consensus Asset NAV Breakdown US Internationally Diversified Gold Producer 0% Kyrgyzstan 33% Closed Thompson Creek Acquisition Canada 46% Up to 795kozpa gold at AISC1 of $743 to $824 per ounce and 60M lbs of copper Turkey Significant operational cash
Slide 16: Question and Answer Session & Appendix
Q1 2017 Results – May 2, 2017 Question and Answer Session & Appendix TSX: CG www.centerragold.com
Slide 17: Centerra: 2017 Guidance
Centerra: 2017 Guidance 2017 All-in Sustaining 2017 Gold Production 2017 Copper Production Costs on a By-product basis1 (ounces) (millions pounds) (per ounce sold) Kumtor Mine 455,000 – 505,000 - $836 – $925 Mount Milligan 260,000 – 290,000 55 – 65 $457 – $508 Centerra 715,000 – 795,000 55 – 65 $743
Slide 18: 2017 Guidance: Sensitivities
2017 Guidance: Sensitivities Impact on Impact on ($ millions) ($ per ounce sold) Change Costs Revenues Cash flows Net Earnings AISC(2) on by- (after tax) product basis Gold Price $50/oz 2.6 - 3.0 24.2 – 27.7 24.2 – 27.7 21.6 – 24.5 0.3 Copper Price(3) 10% 0.1 3.9 – 5.4 3.7 – 5.2 3.7 – 5.2 3.7 – 5.2
Slide 19: Mineral Reserves: Proven & Probable Dec.31, 2016
Mineral Reserves: Proven & Probable Dec.31, 2016 Proven and Probable Gold Mineral Reserves Increase to 16 million ounces Proven and Probable Copper Mineral Reserves are 2,049 million pounds Copper Mineral Reserves Proven Probable Total Proven and Probable Tonnes Grade Contained Tonnes Grade Containe
Slide 20: TSX: CG www.centerragold.com
TSX: CG www.centerragold.com