Oceanagold Corporation · TSX:OGC
Oceanagold — Q1 2021 Earnings Presentation
25 slides from Oceanagold's earnings presentation, April 2021
Slide 1: Q1 2021 Results
Q1 2021 Results APRIL 2021 CONSISTENTLY DELIVERING ON COMMITMENTS INNOVATION I PERFORMANCE I GROWTH
Slide 2: Cautionary and Technical Statements
2 Cautionary and Technical Statements 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 off
Slide 3: Q1 Highlights
3 Q1 Highlights DELIVERING ON OUR COMMITMENTS IMPROVED PROFITABILITY Delivered adjusted net earnings of $22 million or $0.03 per share ON-TRACK TO ACHIEVE 2021 GUIDANCE Ingenuity of operational teams ensures we remain on-track to achieve 2021 guidance MAINTAINED OPTIMAL BALANCE SHEET Total immediate
Slide 4: Multi-Year Outlook (ex-Didipio)
4 Multi-Year Outlook (ex-Didipio) GROWING PRODUCTION, DECREASING COSTS, INCREASING MARGINS MULTI-YEAR OUTLOOK(1) (based on mid-points) 600 $1,300 Production All-in Sustaining Costs 550 $1,200 500 All-In Sustaining Costs (USD/oz) 450 Gold Production (koz) $1,100 400 350 $1,000 300 250 $900 200 150 $8
Slide 5: Sustainability
5 Sustainability FUNDAMENTAL TO THE WAY WE DO BUSINESS Q1 RESULTS Carbon Neutral by 2050 HEALTH & SAFETY • TRIFR 3.9 → focus on principal hazards (ground stability, energy mgmt. mobile equipment • Maintaining strict health and safety protocols related to COVID-19 • Supporting the local Didipio commu
Slide 6: Financial Results Overview
6 Financial Results Overview Q1 2021 Q4 2020 Q1 2020 PROFIT & LOSS REVENUE million 148.9 168.2 138.2 » Revenue decreased QoQ on lower sale volumes partially offset by higher realized gold EBITDA million 62.0 61.3 42.4 price NPAT million 16.0 3.9 (26.0) » EBITDA benefitted from lower Didipio carrying
Slide 7: Capital Allocation
7 Capital Allocation STRONG BALANCE SHEET WITH REINVESTMENT IN HIGHLY ACCRETIVE ORGANIC GROWTH USES OF CASH FLOWS TOTAL LIQUIDITY(1) TOTAL DEBT (1) CASH UNDRAWN FACILITY DRAWN FACILITY EQUIPMENT LEASES Investing free cash flows to drive long-term shareholder value… $146 $50 $200 $102 million million
Slide 8: Capital Investment Overview
8 Capital Investment Overview 2021 INVESTMENT ADVANCES ORGANIC GROWTH PROJECTS CONSOLIDATED (USDm) Q1 2021 Q4 2020 Q1 2020 GENERAL OPERATING 8.2 6.7 8.5 PRE-STRIP WAIHI & CAPITALISED MINING 16.3 12.9 18.3 GROWTH MACRAESCAPITAL 39.0 46.2 27.1 (1) EXPLORATION 5.8 5.9 4.9 (2) TOTAL 69.3 71.7 58.8 Golde
Slide 9: Haile Operations Overview
9 Haile Operations Overview Q1 2021 Q4 2020 Q1 2020 2021 OUTLOOK per million work TRIFR (12-MMA) 3.0 2.8 5.7 hours Q2 strongest quarter of production; lowest AISC GOLD PRODUCTION koz 44.3 49.0 29.4 Expecting SEIS record of decision mid-year GOLD SALES koz 45.2 46.7 33.3 HUG portal development on-tra
Slide 10: Macraes Operations Overview
10 Macraes Operations Overview Q1 2020 Q4 2020 Q1 2020 2021 OUTLOOK per million work TRIFR (12-MMA) hours 5.2 3.7 3.1 Full year guidance unchanged GOLD PRODUCTION koz 34.5 42.6 39.2 Q2 mill motor install and autoclave rebrick GOLD SALES koz 34.5 42.2 37.8 CASH COSTS per oz sold $818 $879 $695 Golden
Slide 11: Waihi Operations Overview
11 Waihi Operations Overview Q1 2021 Q4 2020 Q1 2020 2021 OUTLOOK per million work TRIFR (12-MMA) hours 10.5 8.9 4.2 35,000 to 45,000 oz from Martha UG for the full year GOLD PRODUCTION koz 4.3 7.6 12.2 Martha UG continuous milling starts late Q2/21 GOLD SALES koz 3.1 7.5 13.5 WKP Pre-feasability ex
Slide 12: Didipio Restart
12 Didipio Restart UP TO 12 MONTHS TO ACHIEVE FULL OPERATIONAL CAPACITY DRIVERS PRODUCTION CYCLE & PROCESSES FULL PRODUCTION up to 12 Months CONSUMABLES PROCESS PLANT RESTART RECRUITMENT UNDERGROUND STOPING & 110 – 120 koz GOLD EQUIPMENT READINESS 10 – 14 kt COPPER DEVELOPMENT RECOMMENCES LOGISTICS
Slide 13: 2021 Initiatives
13 2021 Initiatives FOCUSED ON DELIVERING VALUE OVER THE LONG-TERM BUILD ON OUR TOP RATED ESG PERFORMANCE Demonstrate the Company’s leadership through continued investor engagement, ESG execution DELIVER ON OUR COMMITMENTS Acutely focused on driving operational excellence while effectively managing
Slide 14: Organic Growth
14 Organic Growth ROBUST PIPELINE IN ATTRACTIVE JURISDICITONS HAILE WAIHI MACRAES South Carolina, United States North Island, New Zealand South Island, New Zealand 2023 2023 2023 Haile Underground (1) Martha Underground Golden Point Underground » Earthworks underway » First production achieved » Por
Slide 15: Multi-Year Outlook (ex-Didipio)
15 Multi-Year Outlook (ex-Didipio) GROWING PRODUCTION, DECREASING COSTS, INCREASING MARGINS MULTI-YEAR OUTLOOK(1) (based on mid-points) 600 $1,300 Production All-in Sustaining Costs 550 $1,200 500 All-In Sustaining Costs (USD/oz) 450 Gold Production (koz) $1,100 400 350 $1,000 300 250 $900 200 150 $
Slide 16: Corporate Headquarters
Corporate Headquarters Americas Corporate Office Level 14, 357 Collins Street Suite 350 4725 South Monaco Street Melbourne, Victoria, 3000 Denver, Colorado, 80237 Australia United States of America T: +61 3 9656 5300 F: +61 3 9656 5333 info@oceanagold.com oceanagold.com
Slide 17: Cautionary and Technical Statements
17 Cautionary and Technical Statements TECHNICAL CAUTIONARY STATEMENT TECHNICAL DISCLOSURE Waihi. Mineral Resources for Waihi have been verified, reviewed and approved by, or are based upon information prepared by or under the supervision of, P. Church. Information relating to Waihi exploration resu
Slide 18: 2021 Guidance (ex-Didipio)
18 2021 Guidance (ex-Didipio) YOY 20% PRODUCTION INCREASE AT 12% LOWER AISC PRODUCTION & COSTS Haile Waihi Macraes Consolidated(1) Gold Production koz 150 – 170 35 – 45 155 – 165 340 – 380 All-in Sustaining Costs $/oz 950 – 1,100 1,350 – 1,450 1,000 – 1,100 1,050 – 1,200 Cash Costs $/oz 750 – 850 1,
Slide 19: Haile UG Development
19 Haile UG Development UNDERGROUND PRODUCTION PROVIDES OPERATING OPTIONALITY P&P RESERVES (1) M&I RESOURCES (1) INFERRED RESOURCES (1) 0.42 Moz @ 3.8 g/t 0.53 Moz @ 5.0 g/t 0.3 Moz @ 4.4 g/t PROJECT DELIVERABLES 2021 2022 H1 H2 H1 H2 UG Mining & EPCM Contractor Selected Surface Earthworks Surface I
Slide 20: Haile Exploration
20 Haile Exploration THE FUTURE AT HAILE IS EXPANDING THE UNDERGROUND N Champion Horseshoe Deposit 0.42Moz Reserves @ 3.78g/t Au 0.53Moz M&I @ 4.95 g/t Au Horseshoe Deposit 0.3Moz Inferred Mill Zone @ 4.4 g/t Au Ledbetter Snake Aquarius Exploration Target Horseshoe Extension Target Palomino Deposit
Slide 21: Martha Underground
21 Martha Underground MUG UNDERPINS ADVANCEMENT OF GREATER WAIHI DISTRICT P&P RESERVES (1) INDICATED RESOURCES (1) INFERRED RESOURCES (1) 0.62 Moz @ 4.3 g/t 1.0 Moz @ 5.2 g/t 0.38 Moz @ 4.7 g/t FIRST PRODUCTION ACHIEVED CONTINUOUS MILLING EXPECTED LATE Q2/21 FIRST RESERVE DECLARED AND FEASIBILITY ST
Slide 22: WKP Project
22 WKP Project HIGH-GRADE PROJECT LEVERAGING EXISTING PROCESSING INFRASTRUCTURE SELECT 2020 DRILL RESULTS(2) INDICATED RESOURCES (1) INFERRED RESOURCES (1) 48.9m @ 22.8g/t Au 3.1m @ 169.0g/t Au WKP96A WKP95A 0.4 Moz @ 13.4 g/t 0.7 Moz @ 12.0 g/t 2.2m @ 45.6g/t Au 9.0m @ 41.4g/t Au WKP97 WKP97 UPGRAD
Slide 23: Golden Point UG Development
23 Golden Point UG Development GPUG TO SUPPLEMENT AND REPLACE EXISTING FRUG PRODUCTION P&P RESERVES (1) M&I RESOURCES (1) 0.17 Moz @ 2.1 g/t 0.34 Moz @ 2.6 g/t FIRST PRODUCTION EXPECTED IN Q4/21 Round Hill Stage 1 EVENTUALLY Open Pit REPLACES FRUG UTILISES EXISTING INFRASTRUCTURE 2021 EXPLORATION PR
Slide 24: Macraes Exploration
24 Macraes Exploration ROBUST RESOURCE UNDERPINS LEVERAGE TO THE GOLD PRICE CURRENT LIFE OF MINE ORE SOURCES » Coronation North » Frasers Underground » Frasers West » Golden Point Underground » Gay Tan Multiple Phases » Innes Mills » Deepdell » Round Hill Stage 1 » Golden Bar MINE LIFE EXTENSION OPP
Slide 25: Corporate Headquarters
Corporate Headquarters Americas Corporate Office Level 14, 357 Collins Street Suite 350 4725 South Monaco Street Melbourne, Victoria, 3000 Denver, Colorado, 80237 Australia United States of America T: +61 3 9656 5300 F: +61 3 9656 5333 info@oceanagold.com oceanagold.com