Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Investor Presentation (May 2011)
23 slides from Eldorado Gold's investor presentation, May 2011
Slide 1: May 2011
May 2011 www.eldoradogold.com 1
Slide 2: Forward-looking statements
Certain of the statements made in this Presentation may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward- looking information within the meaning of applicable Canadian securities law. These forward-looking stateme
Slide 3: Eldorado Gold is a Canadian gold producer
Eldorado Gold is a Canadian gold producer with five operating mines, two mines under construction,, development p p j projects p and an extensive 2011 exploration p g program. We p y presently operate in China, Turkey, Brazil and Greece. www.eldoradogold.com 3
Slide 4: Q1 2011 highlights, resources and reserves, annual production
◦ Produced 148,577 oz of gold at a cash operating cost of $410/oz (total cash cost $462/oz) ◦ Sold 148,530 ounces of gold at an average realized price of $1,397 per ounce ◦ Sold 85,421 dry tonnes of iron ore at prices averaging $124 per dry tonne – total cash cost approx. $53 per tonne ◦ Reported ne
Slide 5: Focus on organic growth
Focus on organic growth: Increase gold production by 15 - 20% to 715,000 – 770,000 oz at a cash operating cost of $375 - $395/oz Complete construction of two new mines Advance development projects Maintain production costs in lowest quartile (under $400 per ounce) Increase dividend Incre
Slide 6: Total cash cost, cash margins and realized gold price
1600 $ , $1,397 1400 $1,223 1200 $995 1000 $876 $/oz 800 $674 $609 600 400 200 0 2006 2007 2008 2009 2010 Q1 2011 Total Cash Cost Cash Margins g Realized Gold Price www.eldoradogold.com 6
Slide 7: Production and cash operating cost forecast
1,200 $500 $385 $390 $395 $390 $400 1,000 $382 $400 800 $301 $300 x 1,000 oz $/oz 600 $200 400 $100 200 0 $0 2009A 2010A 2011E 2012E 2013E 2014E 2015E Kisladag Jinfeng Tanjianshan White Mountain Efemcukuru Eastern Dragon Perama Hill TZ Cash Operating Cost ($/oz) www.eldoradogold.com 7
Slide 8: Mine Planned Production
Mine Planned Anticipated Anticipated Production Increase (oz/yr) Timeframe ( / ) (oz/yr) Kisladag 275,000 175,000 – 200,000 2014 Efemcukuru 120,000 35,000 – 45,000 2014 White Mountain 70,000 25,000 – 35,000 2013 Eastern Dragon 80,000 70,000 – 90,000 2015 TOTAL 305 305,000 000 – 370 370,000 000 www.e
Slide 9: Expansion production
1,600 1,400 1,200 1,000 oz x 1,000 o 800 600 400 200 0 2009A 2010A 2011E 2012E 2013E 2014E 2015E Kisladag Jinfeng Tanjianshan White Mountain Efemcukuru Eastern Dragon Perama Hill TZ Expansion i Production d i www.eldoradogold.com 9
Slide 10: Kişladağ
Kişladağ is a gold porphyry deposit located in Uşak Province, Turkey, operating as an open pit heap leach gold mine. Commercial production commenced in July 2006. Q1, 2011 gold production: 50,833 Q1 50 833 oz at a cash operating cost of $386/oz. 2011 forecast ore production is 12.5 M Type Op
Slide 11: Jinfeng
Jinfeng is a Carlin-type gold deposit located in Guizhou Province, China, operating as an open pit and underground mine. Eldorado owns an 82% interest with local joint-venture partner Guizhou Lannigou Gold Mine Limited holding the remaining 18%. Q1, 2011 gold production: 48,564 oz at a cash op
Slide 12: Tanjianshan
Tanjianshan is an orogenic gold deposit located in Qinghai Province, China, operating as an open pit, float-roast-CIL operation. Partners at Tanjianshan are Qinghai Number One Geological Brigade (5%) and the Dachaidan Gold Mine (5%). Q1, 2011 gold production: 28,493 oz at a cash operating cost
Slide 13: White Mountain
White Mountain is an orogenic gold deposit located in Jilin Province,, China operating p g as an underground mine using a sub-level and cut-and-fill stoping mining method. Eldorado owns a 95% interest, with joint- venture e tu e pa partner t e JJilin Tonghua o g ua Institute st tute o of Geology
Slide 14: Vila Nova iron ore mine
Vila Nova is an iron ore open pit mine p State,, Brazil. located in the Amapa Eldorado owns 100% of Vila Nova. Production commenced in Q3, 2010. Two shipments of ore totaling 85,421 85 421 dry tonnes were sold to the Chinese spot market in 2011. Average price received was $124 per tonne. Typ
Slide 15: Efemçukuru
Efemçukuru, located in Izmir Province, y, is a high Turkey, g g p grade epithermal g gold vein deposit, suited for underground mechanized mining. Construction and underground development is ongoing, with commissioning and production planned for 2011. Underground development , which began in Q3,
Slide 16: Eastern Dragon
Eastern Dragon, located in Heilongjiang Province, China, is a high-grade, epithermal, gold-silver vein deposit. Eldorado has a 95% equity interest with a private joint venture partner holding 5%. The Environmental Impact Assessment report was approved in August 2009. Construction activities
Slide 17: Perama Hill
Perama Hill is an epithermal non-refractory oxide g p gold deposit p ratio. with a low strip Pre-Environmental Impact Assessment has been submitted; approval anticipated in 2011. Technical report NI 43-101 for the project was filed during Q1, 2010. Type Open pit P+P reserves 975,000 oz of gold
Slide 18: Tocantinzinho
Tocantinzinho is a shallow, intrusion-hosted, non-refractory gold deposit located in the prolific Tapajos district in Para state, central Brazil. On July 20, 2010, we acquired 100% interest in the Tocantinzinho project. Pre-Feasibility Pre Feasibility Study (PFS) was completed in May 2011. The
Slide 19: 2011 Exploration budget: $54 million
2011 Exploration budget: $54 million Allocation: 58% minesite and brownfield ($31 million) 42% greenfield ($23 million) www.eldoradogold.com 19
Slide 20: Brazil exploration: Tapajos Region
Brownfields: 15,000 metres Early stage/reconnaissance: 4 4,500 500 metres Tapajos Region • Tocantinzinho: brownfields targets. 2011 plan includes 15,000 metres of diamond drilling (approx. 50-60 holes) • Agua Branca, Piranhas: early stage exploration Vila Nova iron ore mine www.eldoradogold.com 20
Slide 21: China exploration programs
Minesite/brownfields: 67,500 metres Early stage: 25,500 25 500 metres Eastern Dragon Region Tanjianshan • Lode 5 resource definition • 323, QLT deeps resource definition • EL53 brownfields targets • Xijingou, j g , ZXS brownfields targets g White Mountain Region • White Mountain ore body extension •
Slide 22: Turkey exploration programs
Minesite and brownfields: 12,500 metres Early stage/reconnaissance: 15 15,000 000 metres Kişladağ Minesite Eastern Pontides Brownfields targets Atalan Prospect Şebin, Dölek prospects • Istanbul • Izmir Efemçukuru Minesite Malatya District • Northwest Kestane Beleni MH 10CG prospect • Kokarpinar Sizm
Slide 23: Listings, shares outstanding and investor relations
TSX: ELD NYSE: EGO ASX: EAU Shares Outstanding (as of March 31, 2011): 548.5 M Investor Relations: Nancy Woo (604) 601-6650 · nancyw@eldoradogold.com www.eldoradogold.com 23