Centerra Gold Inc. · TSX:CG
Centerra Gold — Q1 2020 Earnings Presentation
24 slides from Centerra Gold's earnings presentation, May 1, 2020
Slide 1: First Quarter Results Conference Call
Kumtor BUILT FOR SUCCESS Mount Milligan First Quarter Results Conference Call May 1, 2020 TSX: CG Öksüt www.centerragold.com
Slide 2: Senior Management Participants
Senior Management Participants Industry Background Experience • Appointed Chief Executive Officer in November 2015 SCOTT PERRY President and Chief Executive +23 years • President and Chief Executive Officer in January 2018 Officer • Former Chief Executive Officer at AuRico Gold DAN DESJARDINS • Appo
Slide 3: Caution Regarding Forward-Looking Information
Caution Regarding Forward-Looking Information Information contained in this document 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 information i
Slide 4: First Quarter Results – Scott Perry, President & CEO
Kumtor BUILT FOR SUCCESS Mount Milligan First Quarter Results May 1, 2020 Scott Perry – President & CEO TSX: CG Öksüt www.centerragold.com
Slide 5: Q1 - 2020 Corporate Highlights
Q1 - 2020 Corporate Highlights Safety – Öksüt recently achieved one year without a lost time injury COVID-19 Implement Proactive Measures, Temporary Workforce Reductions, Increase Hygiene Protocols, Social Distancing, Extend Mine Site Rotations, Separate Work Crews on Site Öksüt First Gold Pou
Slide 6: Q1 - 2020 Corporate Update
Q1 - 2020 Corporate Update Q1 - 2020 Cash Flow (US$MM’s) Cash Flow From Operations (US$MM’s) 5 300 180 1,403 1,487 1,600 1,374 160 1,237 1,400 250 82 20 29 140 121 1,200 200 194 120 95 1,000 118 100 91 92 800 150 80 600 60 100 40 400 50 43 20 200 0 0 0 2 Q2-2019 Q3-2019 5 Q4-2019 Q1-2020 2019 YE Cas
Slide 7: Q1 2020 ESG Operations Update
Q1 2020 ESG Operations Update Continued focus on safety leadership training/awareness Maintained and strengthened our “Social Licence to Operate” at all operations with no interruptions for˜81 months. No reportable environmental incidents. Continued towards our commitment of creating a diverse and i
Slide 8: First Quarter Results – Dan Desjardins, VP & COO
Kumtor BUILT FOR SUCCESS Mount Milligan First Quarter Results May 1, 2020 Dan Desjardins – VP & COO TSX: CG Öksüt www.centerragold.com
Slide 9: Q1-2020 Operating Highlights
Q1-2020 Operating Highlights Thompson Creek Mine achieved 5 full years without a lost time injury and April 19th Öksüt achieved one year without a lost time injury Q1 2020 gold production - Kumtor 152,307 oz, Mount Milligan 33,681 oz, Öksüt 4,486 oz Q1 2020 copper production - Mount Milligan 20.1 mi
Slide 10: 2020 Operations Key Focus
2020 Operations Key Focus Improve Safety Performance Company-wide Ramp up Öksüt to Commercial Production Spring Melt Commenced; Adequate Water Expected at Mount Milligan to Run at Full Capacity for the Year Focus on Consistent and Improved Production at the Mount Milligan Mine Cost Control
Slide 11: Öksüt: Site Photos
Öksüt: Site Photos Admin Offices and Crushing Area Open Pit Mining Open Pit Mining Heap Leach Pads Stacked Ore on Heap Leach Pad Irrigating Stacked Ore May 2020 11
Slide 12: First Quarter Results – Darren Millman, VP & CFO
Kumtor BUILT FOR SUCCESS Mount Milligan First Quarter Results May 1, 2020 Darren Millman – VP & CFO TSX: CG Öksüt www.centerragold.com
Slide 13: Q1-2020 Financial Highlights
Q1-2020 Financial Highlights1 Quarter Ended Quarter Ended (in thousands, except ounces, per share amounts, and average realized price3) March 31, 2020 March 31, 2019 Revenue $374,045 $334,040 Total gold ounces sold(2) 203,258 196,451 Total copper pounds sold (000’s) 20,423 12,522 Cash provided by op
Slide 14: Q1-2020 Other Financial Highlights
Q1-2020 Other Financial Highlights Gold Sales2 of 203,258 ounces / Copper Sales of 20.4 million pounds in Q1 2020 Q1 2020 Net Earnings of $20.0MM, $0.07 Cents Per Share (basic), Adjusted Net Earnings1 for Q1 2020 of $46.4MM, $0.16 per common share (basic) Q1 2020 Production Costs of $423 per ounce s
Slide 15: Summary – Scott Perry
Kumtor BUILT FOR SUCCESS Mount Milligan First Quarter Results May 1, 2020 Summary – Scott Perry TSX: CG Öksüt www.centerragold.com
Slide 16: Centerra: Built For Success
Centerra: Built For Success Corporate Highlights Q1 - 2020 Cash Flow (US$MM’s) 300 20201 estimated gold production up to 820koz, copper 82 20 250 29 production up to 90Mlbs, AISC2 of $820 to $870 per ounce 200 194 118 150 Öksüt Mine first gold pour January 31, 2020 100 50 43 Q1 2020 gold production
Slide 17: Q & A and Appendix
Kumtor BUILT FOR SUCCESS Mount Milligan First Quarter Results May 1, 2020 Q & A and Appendix TSX: CG Öksüt www.centerragold.com
Slide 18: COVID-19 Update
COVID-19 Update • Priority is the health and safety and well-being of employees, contractors, communities and other stakeholders, and to minimize spread of virus • Working remotely where possible • Restrict access to mine sites • Increased cleaning and hygiene protocols at all sites, including tempe
Slide 19: Committed to Responsible Gold Mining
Committed to Responsible Gold Mining • Centerra is implementing the World Gold Council’s Responsible Gold Mining Principles (RGMP) across our operations • RGMP was designed to provide confidence to our investors and supply chain participants that our gold has been produced responsibly • In Q1, Cente
Slide 20: Centerra: Low-Cost Asset Base
Centerra: Low-Cost Asset Base 20201 estimated gold production up to 820koz, copper production up to 90Mlbs, AISC2 of $820 to $870 per ounce Au Positioned to generate meaningful cash flow through the price cycles AISC2 Industry Curve (By-P roduct Basis) $2,500 25% 50% 75% 100% $2,250 $2,000 Cente
Slide 21: Centerra: 2020 Guidance
Centerra: 2020 Guidance6 Mount 2020 Production Guidance Units Kumtor Öksüt Centerra Milligan(1) Gold Total Gold Payable Production(2) (Koz) 520-560 140-160 80-100 740-820 Copper Total Copper Payable Production(2) (Mlb) - 80-90 - 80-90 2020 All-in Sustaining Unit Costs Units Kumtor Mount Milligan(1)
Slide 22: Centerra: 2020 Guidance Sensitivities and Assumptions
Centerra: 2020 Guidance5 Sensitivities and Assumptions Impact on Impact on ($ per ounce ($ millions) sold) Production Costs Net Earnings AISC(2)(3) on Capital Costs Financing Costs Revenues Cash flows & Taxes (after tax) by-product basis Gold price $50/oz 5.1 - 5.6 - 1.5 - 1.6 34.5 - 38.2 27.9 - 31.
Slide 23: Centerra: Mineral Reserves - Proven & Probable
Centerra: Mineral Reserves - Proven & Probable1 Gold Mineral Reserves Proven Probable Total Proven and Probable Property Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Mount Milligan 114,753 0.41 1,525 76,275 0.3
Slide 24: Built For Success
Kumtor BUILT FOR SUCCESS Mount Milligan TSX: CG Öksüt www.centerragold.com