Slide 1: Randall Oliphant, President and CEO
Randall Oliphant President and Chief Executive Officer CIBC Back to Basics Conference – Toronto, April 5, 2001
Slide 2: Building Value
Building Value
Slide 3: 2000 Review
2000 Review Operating earnings: $334 m Operating cash flow: $705 m
Slide 4: 2000 Review
2000 Review Free cash flow: $530 m Cash margin: $215 per oz.
Slide 5: 2000 Review
2000 Review Premium Gold Sales Program Additional revenue: $300 m
Slide 6: 2000 Review
2000 Review Goldstrike (Nevada) Pierina (Peru) Other mines (Canada & Chile)
Slide 7: 2000 Review
2000 Review Production: 3.7 million oz. Cash costs: $145 per oz. Reserves: 58.5 million oz.
Slide 8: 2000 Review
2000 Review Disciplined Decisions Pascua-Lama $1.1 b non-cash provision
Slide 9: Committed to: gold business, hedging
Committed to: -gold business -hedging
Slide 10: 2000 Review
2000 Review Goldstrike Roaster Pangea acquisition adds potential in Tanzania Bulyanhulu (Tanzania) and Rodeo (Goldstrike)
Slide 11: Flexibility, Growth, Discipline
Flexibility Growth Discipline
Slide 12: "A" rated balance sheet
“A” rated balance sheet High-quality assets Largest cash position Growing free cash flow
Slide 13: Flexibility
Flexibility
Slide 14: Bulyanhulu Financing
Bulyanhulu Financing $200 m development loan Partner with 6 global banks
Slide 15: Plan for the future
Plan for the future
Slide 16: Premium Gold Sales Program
Premium Gold Sales Program Lock in minimum prices Paid a premium
Slide 17: Premium Gold Sales Program
Premium Gold Sales Program Next two years production minimum realized price $340 Portion of future production at $360
Slide 18: Built to last… and built to grow
Built to last… and built to grow
Slide 19: Competitive Advantage
Competitive Advantage Predictable, reliable cash flow High margins Premium Gold Sales Program Growth in any environment
Slide 20: Competitive Advantage
Competitive Advantage Higher gold prices = accelerate Pascua-Lama Lower gold prices = acquisition opportunities
Slide 21: Look at Barrick
|_ = Look at Barrick | | ; |
Slide 22: Sticking with gold
Stickin 5S with goilad
Slide 23: Positioned to benefit
Positioned to benefit
Slide 24: Game plan for the future
Game plan for the future
Slide 25: Game Plan
Game Plan Increase earnings and cash flow Improve return on equity Maintain our strong balance sheet
Slide 26: Game Plan
Game Plan April 2001 Bulyanhulu start-up Underground potential at Goldstrike Potential Pascua-Lama/Veladero synergies District development programs
Slide 27: Discipline and Focus
Discipline — and Focus
Slide 28: A company in control
A company in control
Slide 29: Free cash flow
Free cash flow
Slide 30: Organic growth
Organic growth
Slide 31: Strategic acquisitions
Strategic — acquisitions, —
Slide 32: Barrick
a BARRICK