Kinross Gold Corporation · TSX:K
Kinross Gold — BMO Capital Markets Sales Desk Presentation 2013
21 slides from Kinross Gold's conference presentation, May 23, 2013
Slide 1: Cautionary Statement on Forward-Looking Information
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 May 23 KINROSS GOLD CORPORATION 2013 BMO CAPITAL MARKETS SALES DES K PRESENTATION 11 www.kinross.com CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION All statements, other than statements of historical fact, contain
Slide 2: Kinross Today
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 KINROSS TODAY • Total gold resource base of 94 million ounces(1) • 9 mines produced 2.6 million ounces in 2012(2) • Solid record of operational performance • Portfolio of development projects with significant potential
Slide 3: Operational Fundamentals
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 OPERATIONAL FUNDAMENTALS OPERATING MINES IN 4 CORE REGIONS • Diversified portfolio of assets located in some of the world’s best gold districts producing RUSSIA Dvoinoye Kupol Fort Knox Kettle River - Buckhorn Round Mo
Slide 4: North America
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 OPERATIONAL FUNDAMENTALS NORTH AMERICA • Region on track to meet both production and production cost of sales guidance for 2013 Fort Knox FIRST QUARTER 2013 OPERATING RESULTS Kettle River - Buckhorn • Slightly harder o
Slide 5: South America
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 OPERATIONAL FUNDAMENTALS SOUTH AMERICA • Region on track to meet both production and production cost of sales guidance for 2013 Paracatu FIRST QUARTER 2013 OPERATING RESULTS La Coipa Maricunga • Mill recoveries and thr
Slide 6: West Africa
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 OPERATIONAL FUNDAMENTALS WEST AFRICA WEST AFRICA • Region on track to meet both production and production cost of sales 2013E(3): 415-480koz. at $890-950/oz. guidance for 2013 FIRST QUARTER 2013 OPERATING RESULTS Tasia
Slide 7: Russia
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 OPERATIONAL FUNDAMENTALS RUSSIA • Region on track to meet both production and production cost of sales Kupol guidance for 2013 FIRST QUARTER 2013 OPERATING RESULTS • As anticipated, Kupol mined an area of lower-grade m
Slide 8: Capital Expenditures (US$ Billions)
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 FOCUS ON COST MANAGEMENT CAPITAL DISCIPLINE CONTINUES IN 2013 2012 estimate following project resequence Identified $200 million of Actual 2012 $2.2 capital reductions spend Continued focus $2.0 on disciplined $1.9 spe
Slide 9: Maximizing Margins & Cash Flow
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 MAXIMIZING MARGINS & CASH FLOW THE KINROSS WAY FORWARD • 7 key areas form the basis of The Kinross Way Forward: • Prioritizing cash flow 1. MINE PLAN OPTIMIZATION • Optimizing pushback widths, mine sequencing • Exploit
Slide 10: Maintaining a Strong Balance Sheet
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 MAINTAINING A STRONG BALANCE SHEET SOLID FINANCIAL POSITION • Preserving balance sheet strength a priority objective • Repurchased convertible senior notes totaling $455 million on March 15, 2013 Redeemed in cash the
Slide 11: Tasiast Advances to Feasibility Study
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 DISCIPLINED PROJECT DEVELOPMENT TASIAST ADVANCES TO FEASIBILITY STUDY • Pre-feasibility study selected optimum mill size for Tasiast expansion Proceeding to a feasibility study on a 38,000 tpd mill Expected to be c
Slide 12: Dvoinoye Remains on Schedule
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 DVOINOYE • Dvoinoye continues to progress on budget and on schedule RUSSIA • Full production is expected to commence in the second half of 2013 2323 www.kinross.com DISCIPLINED PROJECT DEVELOPMENT DVOINOYE REMAINS ON S
Slide 13: Tasiast District Exploration
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 ENCOURAGING EXPLORATION RESULTS TASIAST DISTRICT EXPLORATION(6) • Drilling at step-out targets confirm presence of Fennec narrow, high-grade veins at C67, Fennec and C68 C67 C68 WEST C68E C68W • Drilling completed alon
Slide 14: Action Plan for Building Value
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 TAKING RESPONSIBILITY MAINTAINING OUR SOCIAL LICENSE TO OPERATE • Member of the Dow Jones Sustainability World Index • Member of the Jantzi Social Index • Listed among Canada’s top corporate citizens by both Maclean’s
Slide 15: All-In Sustaining Costs – Q1 2013
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 APPENDIX 2929 www.kinross.com APPENDIX ALL-IN SUSTAINING COSTS – Q1 2013 $1,135 $1,115 $1,038 $919 $856 $ per ounce Goldcorp Newmont Kinross Barrick Yamana Source: Company reports. For more information regarding Kinros
Slide 16: Relative Valuation
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 APPENDIX RELATIVE VALUATION ENTERPRISE VALUE / 2013E EBITDA 8.8 7.8 7.7 6.9 5.4 4.7 3.8 GG EGO AEM AUY NEM ABX KGC Source: BMO Capital Markets Weekly Gold Pages - May 21, 2013. 3131 www.kinross.com UNITED STATES FORT K
Slide 17: Round Mountain (50%) Kettle River – Buckhorn (100%)
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 UNITED STATES ROUND MOUNTAIN (50%) • Kinross-operated JV with Barrick • Bulk tonnage open-pit operation • Commercial production began in 1977 OPERATING RESULTS PRODUCTION PRODUCTION COST (Au eq. oz.) OF SALES ($/oz.) (
Slide 18: Kupol (100%) Paracatu (100%)
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 RUSSIA KUPOL (100%) • Completed transaction increasing ownership to 100% from 75% on April 27, 2011 • High-grade underground mine with 3,500 tpd mill OPERATING RESULTS PRODUCTION PRODUCTION COST (Au eq. oz.) OF SALES (
Slide 19: La Coipa (100%) Maricunga (100%)
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 CHILE LA COIPA (100%) • Expect to suspend mining of the existing orebody in the second half of 2013 • Continuing to assess the remaining reserves, resources and exploration potential Including the future potential of
Slide 20: Tasiast (100%) Chirano (90%)
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 MAURITANIA TASIAST (100%) • Open-pit mine ~300 km north of the city of Nouakchott • Remote, flat, sparsely populated desert OPERATING RESULTS PRODUCTION PRODUCTION COST (Au eq. oz.) OF SALES ($/oz.)(4) FY 2012 185,334
Slide 21: Endnotes
KINROSS GOLD CORPORATION BMO Capital Markets Sales Desk Presentation May 23, 2013 ENDNOTES 1) For more information regarding Kinross’ mineral reserve and mineral resources estimates please refer to our Annual Mineral Reserve and Mineral Resource Statement as at December 31, 2012 contained in our new
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