Centerra Gold Inc. · TSX:CG
Centerra Gold — Q3 2004 Earnings Presentation
12 slides from Centerra Gold's earnings presentation, Oct 26, 2004
Slide 1: Third Quarter Conference Call
26-Oct-04 Third Quarter Conference Call October 26, 2004 Speakers ¾ Len Homeniuk President & CEO ¾ David Petroff Executive Vice President and Chief Financial Officer 11 1
Slide 2: Forward-Looking Statements
26-Oct-04 Forward-Looking Statements Statements contained in this presentation which are not historical facts are forward looking statements that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those e
Slide 3: Third Quarter Operating Review
26-Oct-04 Third Quarter Operating Review • Strong operating quarter 9 $28.7 million in earnings or 9$28.7 $0.40 per share • Increases in: 9 Revenue 9Revenue 9 Earnings 9Earnings 9 Cash from operations 9Cash • Both mines exceeded expectations 44 Third Quarter Operating Review Kumtor – Exceeding Expec
Slide 4: Boroo – Exceeding Expectations
26-Oct-04 Third Quarter Operating Review Boroo – Exceeding Expectations • 750,000 man -hours worked man-hours without a lost-time injury lost-time • 68,774 ozs poured – 13% above expectations • Cash cost of US$135 per oz 66 Third Quarter Review Encouraging Exploration Results - Kumtor • Results conf
Slide 5: Encouraging Exploration Results - Boroo and Gatsuurt
26-Oct-04 Third Quarter Review Encouraging Exploration Results - Boroo • 18 holes drilled to further define the mineralization • Currently testing the peripheries of the open pit 88 Third Quarter Review Encouraging Exploration Results - Gatsuurt • Results confirm continuity of mineralization and the
Slide 6: Exploration - REN
26-Oct-04 Third Quarter Review Exploration - REN • $2.5 million Phase 2 drilling program approved • Drilling started in August 10 10 Speakers ¾ David Petroff Executive Vice President and Chief Financial Officer 11 11 6
Slide 7: Income Statement – Third Quarter
26-Oct-04 Centerra’s Ownership Interest* *As Reflected in the Statement of Earnings Third Quarter 2004 2003 Kumtor 100% 33% Boroo 95% - 12 12 Income Statement Third Quarter US$ millions 2004 2003 Revenue 86.7 20.6 Cost of sales 37.4 11.4 Depreciation, depletion and reclamation 18.0 4.1 Exploration 3
Slide 8: Income Statement and Balance Sheet
26-Oct-04 Income Statement Nine Months US$ millions 2004 2003 Revenue 159.3 52.5 Cost of sales 68.2 32.7 Depreciation, depletion and reclamation 33.4 10.5 Exploration 7.6 4.5 Interest and other ( 3.5) 1.0 Administration 4.0 2.3 49.6 1.5 Other expenses 3.8 - Income tax expense (recovery) 0.7 ( 0.1) M
Slide 9: Cash Provided by Operations and Statement of Cash Flows
26-Oct-04 Cash Provided by Operations Third Quarter Nine Months US$ millions 2004 2003 2004 2003 Operating activities Net earnings 28.7 2.8 40.5 2.3 Items not requiring (providing) cash: Depreciation, depletion and reclamation 18.0 4.1 33.4 10.5 Deferred charges recognized - 2.8 7.1 5.6 Loss on sett
Slide 10: Sensitivity to the Gold Price
26-Oct-04 Sensitivity to the Gold Price US$ millions Fourth Quarter 2004 Effect of $10 change in the gold price: Earnings 1.8 Cash flow 1.9 18 18 Speakers ¾ Len Homeniuk President & CEO 19 19 10
Slide 11: Outlook for 2004
26-Oct-04 Outlook for 2004 Forecast 2004 Fourth Quarter Year Ounces poured - 100% - Kumtor 136,000 655,000 - Boroo 66,000 245,000 - Total 202,000 900,000 Total cash cost - US$ per ounce - Kumtor $ 252 $ 200 - Boroo $ 150 $ 143 - Consolidated $ 218 $ 185 20 20 Question Period 21 21 11
Slide 12: 26-Oct-04
26-Oct-04 centerraGoL_op ~ ~¢ 12