Slide 1: Full Year & Fourth Quarter 2014 Results
Full Year & Fourth Quarter 2014 Results 20 February 2015
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: Strong Performance Continues
Strong Performance Continues Strong Production Achieved record revenue of $563.3m and net profit of Gold: 307,463 ounces $111.5m despite continued lower commodity prices Copper: 25,010 tonnes Declared annual dividend of US$0.04 per share or CDI Sector Low Costs1 for 2014 Cash Costs: $418 / oz AISC:
Slide 4: Results Summary
Results Summary 2014 2014 Q4 2014 Guidance New New Combined Didipio Company Didipio Company Zealand Zealand Gold 275,000 to oz 106,256 201,207 307,463 34,783 57,929 92,712 production 305,000 Copper 21,000 to t 25,010 – 25,010 6,747 – 6,747 production 24,000 Gold sales oz – 110,510 208,462 318,972 33
Slide 5: Strong Margins
Strong Margins 2014 Free Cash Flow Margins have increased despite lower (USDm) commodity prices $214.9 Generated $105.5m in free cash flow after all $105.5 capital & corporate costs in 2014 Strengthened balance sheet through total debt repayment of $149.4m over last two years -$109.4 Increased cash
Slide 6: Dividend Declared
Dividend Declared Dividend policy Board of Directors approve sustainable dividend implemented policy Includes ordinary dividend of US$0.02 per share plus a discretionary payment 2014 dividend of US$0.04/share declared Discretionary payment dependent on profitability and taking into account capital a
Slide 7: Philippines Operations
Philippines Operations 7 OceanaGold Corporation Innovation Performance Growth
Slide 8: Philippines Highlights
Philippines Highlights Exceeded production guidance in 2014 Record quarterly gold production of 34,783 ounces in Q4 Record quarterly mill feed of 870,617 tonnes 2014 Didipio Results in Q4 Gold produced oz 106,256 Copper produced t 25,010 Gold equivalent ounces Process plant operating at annualised o
Slide 9: Didipio Operating Statistics
Didipio Operating Statistics Year Year Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 2013* Lost time injuries 1 0 1 0 2 0 Gold production oz 34,783 26,207 14,786 30,480 106,256 66,277 Copper production t 6,747 7,078 4,706 6,479 25,010 23,059 Total ore mined Mt 2.52 2.79 1.40 1.67 8.38 8.79 Total waste mined
Slide 10: Didipio 2015 Guidance
Didipio 2015 Guidance Gold Production 100,000 to 120,000 In 2015, 25% of operating costs are associated with ounces diesel consumption Copper Production 10¢ / pound change in copper price AISC margin 21,000 to 23,000 changes by $40/oz tonnes Cash Costs1 10¢ / litre change in diesel price AISC marg
Slide 11: Philippines Looking ahead
Philippines Looking ahead Increased gold production, steady copper production expected in 2015 Q1 & Q4 are expected to be the strongest quarters for production, Q3 softest Development of underground portal expected to commence in Q1 2015 Power grid connection on track for completion in Q3 2015 Com
Slide 12: New Zealand Operations
New Zealand Operations 12 OceanaGold Corporation Innovation Performance Growth
Slide 13: New Zealand Highlights
New Zealand Highlights 2014 New Zealand Results Achieved production guidance despite geotechnical issues at both operations in Q2 Gold produced oz 201,207 Cash costs per oz $862 AISC per oz $1,255 Increased quarterly production due mainly to Reefton operational improvement New Zealand Financial De-r
Slide 14: Macraes Goldfield Operating Statistics
Macraes Goldfield Operating Statistics Year Year Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 2013 Lost time injuries 0 0 0 1 1 3 Gold production oz 41,798 35,403 35,641 40,668 153,510 198,820 Total ore mined from open Mt 0.28 0.38 0.19 1.09 1.95 6.08 pit Total ore mined from Mt 0.25 0.27 0.21 0.21 0.94 0.8
Slide 15: Reefton Goldfield Operating Statistics
Reefton Goldfield Operating Statistics Year Year Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 2013 Lost time injuries 0 3 0 0 3 5 Gold production oz 16,131 5,742 10,404 15,420 47,697 60,635 Total ore mined Mt 0.51 0.34 0.20 0.45 1.50 1.69 Total waste mined Mt 1.73 2.48 4.03 4.73 12.97 17.82 Ore mined grade
Slide 16: New Zealand 2015 Guidance
New Zealand 2015 Guidance Gold Production Over next two years, approximately 80% of gold production in NZ is hedged 195,000 to 215,000 ounces In 2015, 8-10% of operating costs are associated with diesel consumption Cash Costs1 $850 to $900 per ounce 10¢ / litre change in diesel price AISC margin c
Slide 17: New Zealand Looking ahead
New Zealand Looking ahead Production at Macraes will be steady in 2015, lower in Q1/15 vs Q4/14 Production at Reefton expected to be higher in 2015 Reefton costs expected to be significantly lower due to lower waste mined Mining of ore from the Coronation Pit expected in Q1 Frasers underground min
Slide 18: Sustainability
Sustainability 18 OceanaGold Corporation Innovation Performance Growth
Slide 19: Sustainability Highlights
Sustainability Highlights 2014 Presidential Mineral Industry Environment Awards (PMIEA) – received prestigious safest mining operation award in the Philippines El Salvador based employees at Accelerated Education Class ISO14001 Environment Management System (EMS) certification received 19 OceanaGold
Slide 20: Financial Results
Financial Results 20 OceanaGold Corporation Innovation Performance Growth
Slide 21: Financial Position (as at Dec 2014)
Financial Position (as at 31 Dec 2014) LIQUIDITY Declared annual dividend of US$0.04/share for 2014 at aggregate cost of US$12m; dividend policy in place Cash $51m Undrawn Revolving Credit Facility $112m Reduced total debt by $77.4m in 2014; approx. $149.4m in last 2 years TOTAL LIQUIDITY $163m DEBT
Slide 22: Consolidated Financial Results
Consolidated Financial Results Year Year Consolidated Financial Results (USDm) Q4 2014 Q3 2014 Q4 2013 2014 2013 Gold sales (ounces) 88,386 64,241 100,410 318,972 308,081 Copper sales (tonnes) 6,271 6,690 6,461 25,886 21,290 Gold price received ($ per ounce) 1,201 1,271 1,262 1,273 1,382 Copper pric
Slide 23: Consolidated Cash Flows
Consolidated Cash Flows Year Year USDm Q4 2014 Q3 2014 Q4 2013 2014 2013 Opening cash balance 46.8 46.2 14.7 24.8 96.5 Operating cash inflows 60.7 28.2 89.0 214.9 159.4 Investing expenditure (26.5) (27.6) (33.2) (109.4) (158.8) Free cash flow 34.2 0.6 55.8 105.5 0.6 Financing cash outflows (35.5) (2
Slide 24: Looking Ahead
Looking Ahead Dividend of US$0.04 per share payable on 30 Apr 2015 for shareholders on record close of business on 2 Mar 2015 2014 dividend declared Overall increase in gold production expected in 2015 Significant free cash Development of Didipio underground expected to flow generation commence in Q
Slide 25: oceanagold.com
oceanagold.com Innovation Performance Growth