Centerra Gold Inc. · TSX:CG
Centerra Gold — Q1 2018 Earnings Presentation
23 slides from Centerra Gold's earnings presentation, May 1, 2018
Slide 1: First Quarter Results Conference Call - May 1, 2018
First Quarter Results Conference Call - May 1, 2018 TSX: CG www.centerragold.com
Slide 2: Senior Management Participants
Senior Management Participants Industry Background Experience SCOTT PERRY • Appointed Chief Executive Officer in November, 2015 President and Chief Executive +20 years • Former Chief Executive Officer at AuRico Gold Officer GORDON REID +30 years • Appointed Chief Operating Officer in January, 2013 C
Slide 3: Caution Regarding Forward-Looking Information
Caution Regarding Forward-Looking Information Information contained in this presentation which are not statements of historical facts, and the documents incorporated by reference herein, may be “forward-looking information” for the purposes of Canadian securities laws. Such forward-looking informati
Slide 4: First Quarter Results - Scott Perry, President & CEO
First Quarter Results – May 1, 2018 Scott Perry - President & CEO TSX: CG www.centerragold.com
Slide 5: Q1 - 2018 Corporate Highlights
Q1 - 2018 Corporate Highlights Safety – Kumtor achieved 1 full year & 6 million man-hours without a lost time injury Apr 11, 2018 Closed AuRico Metals Acquisition and Fully Integrated Assets Mount Milligan Mill Operating Both Ball Mill Circuits Averaging 40,000 tpd Started Construction at Ök
Slide 6: Q1 - 2018 Corporate Update
Q1 - 2018 Corporate Update 2018 YTD Cash Flow (US$MM’s) Liquidity Profile March 31, 2018 (US$MM’s) 600 125 246 500 417 $3353 400 76 US$458MM 300 55 200 3 29 2 9 123 $123 100 0 2 3 2017 YE Drawn AMI Repay Mt Milligan Kumtor Other Finance 2018 Q1 Cash Reserves Undrawn Credit Facilities Cash 1 Facility
Slide 7: Centerra: Lower-Cost Asset Base
Centerra: Lower-Cost Asset Base • Kemess Underground represents a potential fourth Centerra mine in the bottom quartile of global gold producers • Royalty cash flow provides additional margin enhancement AISC Industry Curve (By-P roduct Basis) 0% 25% 50% 75% 100% $2,500 Centerra Gold (US$799-885/oz
Slide 8: First Quarter Operating Results - Gordon Reid, VP & COO
First Quarter Operating Results – May 1, 2018 Gordon Reid - VP & COO TSX: CG www.centerragold.com
Slide 9: Q1-2018 Operating Highlights
Q1-2018 Operating Highlights Q1 2018 gold production - Kumtor 100,220 ounces, Mount Milligan 29,544 ounces Q1 2018 copper production - Mount Milligan 6,143,000 pounds Mount Milligan operating both ball mills averaging 40,000 tpd throughput Kumtor achieved 1 full year & 6 million man-hours without a
Slide 10: Q1-2018 Mount Milligan - Update
Q1-2018 Mount Milligan - Update Restarted milling at partial capacity Feb.5, 2018 ramping up to approximately 30,000 tpd; Second ball mill started March 23, 2018, throughput averaging 40,000 tpd; Expect to return to full capacity after spring melt; 2nd half 2018 expect to average 55,000 tpd Go
Slide 11: Q1-2018 Mount Milligan Exploration
Q1-2018 Mount Milligan Exploration C. Paul Jago, a Member of the Engineers and Geoscientists British Columbia, is Centerra’s qualified person for the purpose of National May 2018 Instrument 43-101. 11
Slide 12: Q1-2018 Öksüt Construction
Q1-2018 Öksüt Construction Mobilizing Construction Equipment Site Safety Protocol Main Access Road Construction Pre-Shift Safety Meeting Main Access Road Construction Site Road Construction May 2018 12
Slide 13: First Quarter Financial Results - Darren Millman, VP & CFO
First Quarter Financial Results – May 1, 2018 Darren Millman - VP & CFO TSX: CG www.centerragold.com
Slide 14: Q1-2018 Financial Highlights
Q1-2018 Financial Highlights1 Quarter Ended Quarter Ended (in thousands, except ounces, per share amounts, and average realized price2) March 31, 2018 March 31, 2017 Revenue $235,399 $285,342 Total gold ounces sold 132,432 187,914 Total copper pounds sold (000’s) 4,506 13,612 Operating cash flow bef
Slide 15: Q1-2018 Other Financial Highlights
Q1-2018 Other Financial Highlights Gold Sales of 132,432 ounces / Copper Sales of 4.5 million pounds in Q1, 2018 Consolidated First Quarter 2018 AISC1 of $932 per ounce Q1, 2018 AISC1 of $758 per ounce at Kumtor and $1,554 per ounce at Mount Milligan March 31, 2018 Total Liquidity $458 Million Succe
Slide 16: First Quarter Results Summary - Scott Perry
First Quarter Results – May 1, 2018 Summary – Scott Perry TSX: CG www.centerragold.com
Slide 17: Centerra: Lower-Cost Asset Base
Centerra: Lower-Cost Asset Base • Kemess Underground represents a potential fourth Centerra mine in the bottom quartile of global gold producers • Royalty cash flow provides additional margin enhancement AISC Industry Curve (By-P roduct Basis) 0% 25% 50% 75% 100% $2,500 Centerra Gold (US$799-885/oz
Slide 18: Centerra: Built For Success
Centerra: Built For Success Corporate Highlights Consensus Asset NAV Breakdown Internationally Diversified Gold Producer Mongolia U.S. Australia 2% 2% 1% Turkey 9% Two Cornerstone Lower-Cost Quartile Assets 2017 Gold Production 785koz at AISC1 of $688 per ounce and 53.6M lbs of copper Canada Kyrgyz
Slide 19: Q & A Session and Appendix
First Quarter Results – May 1, 2018 Q & A Session and Appendix TSX: CG www.centerragold.com
Slide 20: Centerra: 2018 Guidance
Centerra: 2018 Guidance 2018 Production Guidance Units Kumtor Mount Milligan(1) Centerra Gold Total Gold Payable Production(2) (Koz) 450 – 500 195 – 215 645 – 715 Copper Total Copper Payable Production(3) (Mlb) – 47 – 52 47 – 52 2018 All-in Sustaining Unit Costs (5) Kumtor Mount Milligan(1) Centerra
Slide 21: Centerra: 2018 Guidance Sensitivities
Centerra: 2018 Guidance Sensitivities Impact on Impact on ($ millions) ($ per ounce sold) Change Net Earnings AISC(3) on by-product Costs Revenues Cash flows (after tax) basis Gold price(1) $50/oz 3.7 – 4.3 21.5 – 24.7 17.8 – 20.4 17.8 – 20.4 0-1 Copper price(1) 10% 2.1 – 2.5 7.5 – 8.7 5.4 – 6.2 5.4
Slide 22: Centerra: Mineral Reserves - Proven & Probable
Centerra: Mineral Reserves - Proven & Probable1 Proven and Probable Gold Mineral Reserves Increase to 16.3 million ounces Proven and Probable Copper Mineral Reserves Increase to 2,568 million pounds Gold Mineral Reserves Proven Probable Total Proven and Probable Property Tonnes Grade Contained Tonne
Slide 23: TSX: CG www.centerragold.com
TSX: CG www.centerragold.com