Gold Fields Limited · JSE:GFI
Gold Fields — Denver Gold Forum September 2020
18 slides from Gold Fields's conference presentation, September 2020
Slide 1: Gold Fields – Denver Gold Forum
Gold Fields – Denver Gold Forum Nick Holland: CEO September 2020
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: Covid-19 update
Covid‐19 update Current status South West Americas Australia Group Africa Africa Tested 16 534 11 5 127 4 689 26 361 Positive 913 ‐ 372 329 1 614 Negative 15 605 11 4 665 4 326 24 607 Awaiting results 16 ‐ 90 34 140 Active cases 27 ‐ 10 23 60 In hospital 1 ‐ ‐ ‐ 1 Recovered 885 ‐ 361 305 1 551 Died
Slide 4: A globally diversified gold miner
A globally diversified gold miner H1 2020 results Gold Fields Group Mines: 9 Projects: 1 Countries: 5 Att. production: 1,087koz AIC: US$1,065/oz Mine net cash flow: US$405m inflow Net cash flow**: US$320m inflow West Africa region Mines: Tarkwa, Damang and Asanko Att. production: 384koz AIC: US$1,09
Slide 5: Delivered on reinvestment plan
Delivered on reinvestment plan ● The Group has more or less achieved cost and production guidance over last 7 years ● Implemented the turnaround at South Deep which included a labour restructuring ● Reinvested in the future of the business ̵ Delivered Gruyere which was ramped up ahead of plan – low
Slide 6: Strong organic growth within the portfolio
Strong organic growth within the portfolio ● Extended the life‐of‐mine of Cerro Corona to 2030 ̵ Exploring potential upside ● St Ives: life extension driven by growth at the Invincible complex ● Exploration success at Agnew – best position the mine has been in for many years ● Have addressed concern
Slide 7: Tarkwa potential
Tarkwa potential Untapped Down Dip Potential along 22km Strike Length And Room For New Discoveries N Awonaben (PAMTA) Pepe – Atuabo – Mantraim –Tebberebie‐ Pepe Central Pepe East 1 Kottraverchy Pit Ulap‐Pepe Dozer Build Yard Ulap Nth Ext 2 Akon Nth Ulap Nth Ext 1 Pepe East 2 West Hill Kottra‐Ridge W
Slide 8: Damang complex
Damang complex W‐E Section (25896mN) Assay (g/t) 0.3 0.6 1.0 2.0 Aug FC 771 RL As‐mined (17th Aug) Huni Sandstone 25896m Tarkwa Phyllite N Intrusive/Dolerite DRP LoM Banket Hangingwall Banket K1 Banket K2 Banket Footwall Denver Gold Forum | September 2020 8
Slide 9: Greater Agnew Project
Greater Agnew Project Gold Fields has made 2 strategic investments for the long term at Agnew ● A$112m sustainable power solution – hybrid Gas, Solar, Wind Power solution ● A$38m for new accommodation camp – investment for our people Next Investment Phase (2021‐2023): Reserves, Process plant upgrade
Slide 10: Resource Potential – Greater Waroonga
Resource Potential – Greater Waroonga 2013 2019 Order of magnitude Resource Potential of North South Priority 1 500koz to 1.0Moz (over 3‐year window) Order of magnitude Resource Potential of Priority 2 500koz to 1.0Moz (Over 5‐year plus window) Saint Main/FBH Stated boreholes South are selected to i
Slide 11: Resource Potential – New Holland
Resource Potential – New Holland Greater New Holland Complex 2013 2017 EMSD1873W1 3m @ 32.64g/t 2019 North South Himitsu 200 Series Hidden Secret EMSD1867 4.07m @ 7.45g/t Genesis Lower Sheba South & Spitfire Sheba North Sheba Lower EMSD1632 – 5.3m @ 26.85g/t EMSD1632 – 300m 3.56m @ 3.52g/t Priority
Slide 12: Resource Potential – Redeemer Complex
Resource Potential – Redeemer Complex Greater Redeemer Complex Zone 2 North – southern infill North South Barren Lands Zone 2 North Zone 2 South EMSD1929 0.68m @ 33.1g/t, FW lode EMSD1929 1.81m @ 33.34g/t 1.81m @ 33.34g/t, FW lode EMSD1934 17.08m @ 1.94g/t from 874m – (Basalt) Redeemer North EMSD193
Slide 13: St. Ives
St. Ives LD830171: 22m at Invincible Camp Exploration 6.66g/t N S Invincible Invincible South Invincible Footwall South Invincible Stage 6 Fenton Drake 0m RL LD83046 42m at 1.99g/t Greater Invincible North Invincible Mids Invincible Deeps Invincible Deeps Invincible South ADEX Extensions -750m RL 20
Slide 14: Strong cash generation in H1 2020
Strong cash generation in H1 2020 Capital expenditure ● Strong cash generation 900 ̵ Mine cash flow: US$414m in 2019, 800 700 US$405m in H1 2020 600 500 ̵ Net cash flow: US$249m in 2019, 400 300 US$320m in H1 2020 200 100 ● De‐geared faster than expected – 0 2013 2014 2015 2016 2017 2018 2019 H1 202
Slide 15: Balance sheet
Balance sheet ● Net debt (including lease liabilities) amounts to US$1,239m at end‐June 2020 (leases relate to Genser, Gruyere power plant and gas pipeline, Granny Smith power plant), compared to US$1,664m at 31 December 2019 ̵ Net debt (excl. lease liabilities) was US$876m, compared to US$1,331m at
Slide 16: Salares Norte update
Salares Norte update ● Engineering progress 74.7% at end‐June (plan: 76.0%) ● Camp Phase 1 progress 80.8% at end‐March (plan: 84.3%) ̵ Camp Phase 1 spend of US$11m, in line with plan ● H1 pre‐development cost of US$11m vs plan of US$12m, all spent in Q1 ● Mining contract awarded to ICV after a rigor
Slide 17: Salares Norte update continued
Salares Norte update continued Progress in pictures Diversion channel assembly Channel trenching Camp phase I Camp phase II structural excavation Denver Gold Forum | September 2020 17
Slide 18: Thank You
Thank You QUESTIONS AND ANSWERS