Gold Fields Limited · JSE:GFI
Gold Fields — Denver Gold Forum 2019
17 slides from Gold Fields's conference presentation, 2019
Slide 1: Turning cash flow positive sooner than expected
Turning cash flow positive sooner than expected DENVER GOLD FORUM - 2019 Nick Holland - CEO
Slide 2: Forward looking statement
Forward looking statement Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include a
Slide 3: A globally diversified gold miner
A globally diversified gold miner H1 2019 results Gold Fields Group Mines: 9 Projects: 1 Countries: 5 Att. production: 1,083koz AIC: US$1,106/oz Mine net cash flow*: US$198m inflow West Africa region Mines: Tarkwa, Damang and Asanko Att. production: 400koz AIC: US$1,007/oz Net cash flow*: US$72m inf
Slide 4: Reinvesting for the future
Reinvesting for the future ● Over the past 2 years, Gold Fields has been focused on reinvesting for the future ● Built two new mines (Gruyere and Damang) and completed a project feasibility study (Salares Norte) ̵ Will extend life at lower cost ̵ Funded largely from operational cash flow ● Focus has
Slide 5: Turning cash positive sooner than expected
Turning cash positive sooner than expected Capital expenditure 900 ● Gold Fields turned net cash flow positive 800 700 in H1 2019 (after two years of 600 500 reinvestment), earlier than originally 400 anticipated 300 200 ● Net cash flow* of US$49m in H1 2019 100 0 ● Mine net cash flow of US$198m in
Slide 6: Balance Sheet
Balance Sheet ● Net debt (before IFRS16 adjustments) of US$1,498m at Net debt (US$m) and Net debt/EBITDA – pre IFRS16 30 June 2019 US$m 2,000 2.0 ̵ Net debt to EBITDA of 1.36x 1,800 1,600 1.5 ● Net debt (after IFRS16 adjustments) of US$1,794m at 1,400 1,200 30 June 2019 1,000 1.0 ̵ Net debt to EBITD
Slide 7: Update on projects
Update on projects
Slide 8: Australia’s newest gold mine
Australia’s newest gold mine Footprint of the Gruyere plant Denver Gold Forum 2019 | Nick Holland 8
Slide 9: Australia’s newest gold mine
Australia’s newest gold mine Denver Gold Forum 2019 | Nick Holland 9
Slide 10: Gruyere
Gruyere ● Gruyere reached the milestone of pouring first gold post the close of the June 2019 quarter ̵ Three dore gold bars totaling 1,139oz produced from the Carbon-in-Leach and elution circuits ● Practical completion achieved on 10 August 2019 ● The full processing circuit is now in operation and
Slide 11: Update on Damang
Update on Damang ● Another strong performance by Damang in H1 2019, beating plan on both production and costs ̵ H1 2019 production of 112koz at AISC of US$652/oz and AIC of US$1,061/oz ̵ On track to meet full-year guidance of 218koz ● Encouragingly, the mine generated free cash after all capital dur
Slide 12: Update on Damang
Update on Damang Damang pit West wall Denver Gold Forum 2019 | Nick Holland 12
Slide 13: Update on Damang
Update on Damang Damang pit East wall Denver Gold Forum 2019 | Nick Holland 13
Slide 14: Update on Damang
Update on Damang Damang pit North to South view Denver Gold Forum 2019 | Nick Holland 14
Slide 15: Salares Norte
Salares Norte ● Salares Norte ̵ EIA progressing – expected within the next 12 months ̵ Detailed engineering 39% complete ● Average LOM gold equivalent production Salares Norte of 350koz at AIC of US$545/oz with upfront capex of US$834m ● District drilling metres are 66% over budget YTD ● Horizonte D
Slide 16: 2019 outlook and guidance
2019 outlook and guidance 2019 Group guidance unchanged ● Attributable equivalent gold production: 2.13Moz – 2.18Moz ● AISC: US$980/oz – US$995/oz ● AIC: US$1,075/oz – US$1,095/oz (includes project capital of US$69m at Damang, US$74m at Gruyere and Salares Norte expenditure of US$57m) Focus areas fo
Slide 17: Thank you
Thank you QUESTIONS AND ANSWERS