Slide 1: 2013 First Quarter Results Conference Call Presentation
2013 First Q Quarter Results Conference Call Presentation 30 April 2013
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: OceanaGold Today
OceanaGold Today DIDIPIO Luzon Didipio Philippines Baguio Manila MACRAES Mindanao HQ Auckland New Zealand Reefton Open Pit Wellington REEFTON Blackwater Christchurch Macraes M Open O Pit & Underground U d d Dunedin Note: All amounts in the presentation stated in USD unless otherwise stated 3 OceanaG
Slide 4: 2013 Guidance
2013 Guidance Philippines New Zealand Total Company 2013E 2013E 2013E 2012A GOLD PRODUCTION 50 – 70 235 – 255 285 – 325 233 (‘000 ounces) COPPER PRODUCTION 15 – 18 – 15 – 18 – (‘000 ttonnes)) CASH COSTS (US$ / ounce) $(370)–$(50)* $880 – $950 $650 – $800* $940 Note: * 2013 cash costs are net of copp
Slide 5: First Quarter 2013 Operating Results
First Quarter 2013 Operating Results Total T t l Didipio Macraes Reefton Company Gold Production 6,877 48,139 12,447 67,463 (ounces) Copper C Production 3,663 - - 3,663 (tonnes) Gold Ounces Sold - 48,489 10,096 58,585* (ounces) Cash Operating Costs $687* ((US$ / ounce)) * New Zealand only 5 OceanaGo
Slide 6: Pro Forma Net Cash Flow
Pro Forma Net Cash Flow Per ounce Au sold Q1 2013 Q4 2012 Q1 2012 Average gold price received $1,632 $1,706 $1,708 Cash cost reported $687 $638 $1,126 Capitalised Cash Mining Expenditure* $430 $233 $267 Total cost/oz (including capitalised mining) $1,117 $871 $1,393 Pro forma net cash flow $515 $835
Slide 7: Philippines Operations
Philippines Phili i Operations 7 OceanaGold Corporation
Slide 8: Didipio Commissioning Timeline
Didipio Commissioning Timeline Beginning October 2012 Commissioning commences on schedule End November 2012 Milling commences Early December 2012 Processing of first ore through mill Mid December 2012 Construction completed on schedule Mid December 2012 First concentrate produced End January 2013 Fi
Slide 9: Didipio Mine
Didipio Mine Q1 2013 Q4 2012 Lost time injuries 0 0 Gold production (oz) 6 877 6,877 374 Copper production (t) 3,663 203 03 Total ore mined (t) • Process plant continues to ramp up 1,837,081 1,273,870 Steady state throughput rate of • Steady-state Mill feed (t) ~7,000tpd • Concentrate grade of ~28%
Slide 10: Concentrate Production Profile
Concentrate Production Profile 8,000 7,000 6,000 onnes Dry to 5,000 4,000 3,000 2,000 1,000 0 December January February March April Increasing Cash Flow Shipment #1 5,000 dry tonnes Early April 2013 Current concentrate inventory ~14,000 dry tonnes as at April 27, 2013 Shipment #2 5,000 dry tonnes Ea
Slide 11: Philippines Exploration Update
Philippines Exploration Update • Several significant g areas of anomalous Au-Cu grid soil geochemistry • 2013 exploration budget: US$10m • Commencing drilling of D’Beau target ~ 1.0 km from Didipio and within ithi mining i i permit it • Awaiting exploration permit for pe o remaining e a g FTAA area
Slide 12: Investment In Our Local Communities
Investment In Our Local Communities EDUCATION INFRASTRUCTURE HEALTH PROGRAMS VELOPMENT T MENT PLAN SOCIAL DEV MANAGEM S Subsidising S b idi i salaries l i off 39 US$0.6m US$0 6 off US$1 US$1.4m 4 spentt on Medical M di l outreach t h programs and d teachers in 17 schools new road in Nueva Vizcaya he
Slide 13: New Zealand Operations
New Zealand Operations 13 OceanaGold Corporation
Slide 14: Macraes Goldfield
Macraes Goldfield Q1 2013 Q4 2012 Lost time injuries 0 1 Gold production (oz) 48,139 58,872 Open pit total ore mined (t) 1,431,045 1,608,167 Underground total ore mined (t) • Mill grades returning to more normalised levels after Q4/12 212,387 207,420 • Pit wall movement in early January but Q1 Mill
Slide 15: Reefton Goldfield
Reefton Goldfield Q1 2013 Q4 2012 Lost time injuries 0 0 Gold production (oz) 12,447 17,972 Total ore mined (t) 341,898 404,030 • Lower production as expected compared to Q4/12 Mill feed (t) – lower grades and fewer milled 336,207 372,791 tonnes Feed grade (g/t) – higher pre-stripping in preparation
Slide 16: New Zealand Operations Moving Forward
New Zealand Operations Moving Forward • Q1 production was in line with plan • Quarterly production variability expected to continue • Impact of Macraes pit wall movement in January: – Mine sequencing has been adjusted – Q2 production d ti expected t d to t be b lower l than th Q1 – Q3 production exp
Slide 17: Blackwater
Blackwater Selected Drill Results* D Depth h True T G d Grade Drill # (m) Width (m) (g/t Au) Historic 0 – 700 0.7 14.6 WA11 980 0.5 24.5 WA21A 1,316 0.5 23.3 WA22C 1 632 1,632 05 0.5 15 6 15.6 WA22D 1,624 1.0 85.2 WA25 1,134 0.3 62.4 WA25A 1,136 0.5 134.0 • Testing continuity below historic workings
Slide 18: Financial Summary
Financial Summary 18 OceanaGold Corporation
Slide 19: Financial Overview
Financial Overview Corporate debt (US$) Cash and bank facilities (US$) Convertible note $112m Undrawn term facility $112m Term facility $60m Available credit facilities $55m Revolving credit facilities $20m Cash $27m • Convertible note – A$110m @ 7.0% coupon – Matures in December 2013 – Covered by u
Slide 20: Group Results Q1 2013
Group Results Q1 2013 USDm Q1 2013 Q4 2012 Q1 2012 Revenue 95.6 119.0 88.6 Operating costs1 (48.5) (51.9) (65.3) EBITDA2 47 1 47.1 67 1 67.1 23 3 23.3 Depreciation & Amortisation (29.5) (27.6) (21.8) Net interest & Finance Costs ((6.4)) ((7.7)) ((4.0)) Earnings before tax2 11.2 31.8 (2.5) Income tax
Slide 21: Cash Flows for Q1 2013
Cash Flows for Q1 2013 USDm Q1 2013 Q4 2012 Q1 2012 Opening cash balance 96.5 24.2 170.0 Operating cash inflows 21 4 21.4 60 2 60.2 24 1 24.1 Capital expenditure (65.0) (91.4) (68.4) Financing cash inflows/(outflows) (25.7) 110.3 (3.6) Forex effect 0.2 (6.8) 1.2 Net cash (decrease)/increase (69.1) 7
Slide 22: Cash Flows for Q1 2013
Cash Flows for Q1 2013 • Operating cash flows were lower than in Q4 2012 mainly due to fewer ounces of gold sold • Investing g cash flows: New Zealand Philippines Pre-stripping Pre stripping & capitalised mining 25 2 25.2 - Capitalised development and - 30.4 operating costs g capex Sustaining p & re
Slide 23: Looking Ahead
Looking Ahead • Quarterly production from New Zealand operations to be variable: – Q2 expected to be lower – Q3 expected to be higher • Didipio ramp-up ramp up to continue – Commercial production expected in Q2 – Optimising concentrate transportation logistics to port for shipment and sale • Reviewi
Slide 24: 2013 Upcoming Events
2013 Upcoming Events Didipio commercial production Q2 Didipio optimisation study H2 Blackwater technical study H2 A Annual lGGenerall Meeting M ti (AGM) M 17 May Didipio site visit June 4 New Zealand site visits June 6 & 7 S Second d quarter t 2013 results lt J l 25 July 24 OceanaGold Corporation
Slide 25: OceanaGold
4) OCEANAGOLD oceanagold.com ee Innovation Performance Growth ») ey, A "ate a a >.