Slide 1: Q1 2014 Results Presentation
Q1 2014 Results Presentation 30 April 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: Key Q1 2014 Highlights
Key Q1 2014 Highlights Revenue of $170 million with record quarterly EBITDA of $101 million and net profit of $59 million Debt repayment of $20 million and increase in available liquidity from cash and available facilities to $92 million including $42m in cash Record quarterly gold production of 30,
Slide 4: 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 5: 2014 Guidance
2014 Guidance Didipio New Zealand Total Company 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 $840 – $9252 $400 – $4501,2 All-In Sustaining Co
Slide 6: Philippines Operations
Philippines Operations 6 OceanaGold Corporation Innovation Performance Growth
Slide 7: Philippines Q1 2014 Highlights
Philippines Q1 2014 Highlights Record quarterly gold production of 30,480 ounces Gold equivalent production of 64,616 ounces Cash costs of negative ($490)1 per ounce sold, co-product cash cost of $483 per ounce AISC of negative ($332)1 per ounce sold, co- product AISC of $556 per ounce Achieved over
Slide 8: Didipio Operating Statistics
Didipio Operating Statistics Q1 2014 Q4 2013 Q1 2013 Lost time injuries 0 0 0 Gold production oz 30,480 27,713 6,877 Copper production t 6,479 7,536 3,663 Total ore mined Mt 1.67 2.62 1.84 Total waste mined Mt 4.44 3.47 2.75 Ore mined grade gold g/t 0.83 0.69 0.49 Ore mined grade copper % 0.61 0.53
Slide 9: Didipio – Looking ahead
Didipio – Looking ahead Plan to mill 3 million tonnes of ore and 2 increase throughput rate to 3.5 Mtpa by 3 end of 2014 4 5/6 Expect production Q2 < Q1 due to mining & milling lower grades, planned plant shutdown for maintenance Power grid connection development work advancing well lower operatin
Slide 10: New Zealand Operations
New Zealand Operations 10 OceanaGold Corporation Innovation Performance Growth
Slide 11: New Zealand Q1 2014 Highlights
New Zealand Q1 2014 Highlights Gold production of 56,088 ounces Cash costs of $584 per ounce sold, AISC of $941 per ounce Re-optimised mine plans at New Zealand have resulted in significantly lower costs Strong New Zealand dollar persists, partly offset by New Zealand dollar gold hedges Subsequent t
Slide 12: Macraes Goldfield Operating Statistics
Macraes Goldfield Operating Statistics Q1 2014 Q4 2013 Q1 2013 Lost time injuries 1 0 0 Gold production oz 40,668 68,419 48,139 Total ore mined from open pit Mt 1.09 1.80 1.43 Total ore mined from underground Mt 0.21 0.22 0.21 Total waste mined Mt 2.93 7.84 12.39 Ore mined grade g/t 1.21 1.55 1.28 M
Slide 13: Reefton Goldfield Operating Statistics
Reefton Goldfield Operating Statistics Q1 2014 Q4 2013 Q1 2013 Lost time injuries 0 1 0 Gold production oz 15,420 19,087 12,477 Total ore mined Mt 0.45 0.53 0.34 Total waste mined Mt 4.73 4.60 4.00 Ore mined grade g/t 1.38 1.45 1.47 Mill feed Mt 0.42 0.41 0.34 Mill feed grade g/t 1.38 1.79 1.35 Reco
Slide 14: New Zealand – Looking ahead
New Zealand – Looking ahead Macraes production Q2 < Q1 and steady for remainder of the year Less ore and at lower grades to be mined from Macraes open pit; mill feed to be supplemented with low grade stockpile Production from Frasers Underground recommenced on April 24 Reefton production H2 > H1 wit
Slide 15: Sustainability
Sustainability 15 OceanaGold Corporation Innovation Performance Growth
Slide 16: Q1 2014 Sustainability Highlights
Q1 2014 Sustainability Highlights Nearly $1 million invested in community Received Gold Award for Women Empowerment initiatives and programs in the Philippines at 6th Annual Global CSR Summit and Awards 12 scholars from Company education program Joined the Philippine Watershed Management in the Phil
Slide 17: Financial Results
Financial Results 17 OceanaGold Corporation Innovation Performance Growth
Slide 18: Financial Position (as at 31 March 2014)
Financial Position (as at 31 March 2014) Liquidity Cash $42m Undrawn Revolving Credit Facility $50m Core Debt Term Facility $129m Revolving Credit Facility – • Repaid $20m of the Revolving Credit Facility in Q1/14 • Increase in cash position at end of Q1/14 total liquidity now stands at $92m • Q1/
Slide 19: Q1 2014 Group Financial Results
Q1 2014 Group 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 (
Slide 20: 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 21: Outlook
Outlook Didipio throughput rates ramping up to planned 3.5 Mtpa capacity by end of 2014 Lower production expected in Q2 as planned; on track to meet full year production guidance Continued focus on optimising operations to maximise cash flows Strengthen balance sheet through further debt repayment I
Slide 22: oceanagold.com
oceanagold.com Innovation Performance Growth