Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Shareholder Meeting (May 2013)
17 slides from Eldorado Gold's shareholder meeting presentation, May 2, 2013
Slide 1: Solid Foundations, Disciplined Growth
Solid Foundations Disciplined Growth Annual General Meeting, Vancouver BC May 2nd, 2013 Kişladağ, Gold Mine, Turkey
Slide 2: Forward Looking Statement
Forward Looking Statement Certain of the statements made in this Presentation may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities law. Thes
Slide 3: Operating on Solid Foundations: Where we are Today
Operating on Solid Foundations Where we are Today Kişladağ, Gold Mine, Turkey 660,000 oz/year gold producer with 20 years of international operating experience Leading low Experienced Track record of Solid reserve value creation Transparent cost operator management and resource through dividend poli
Slide 4: Our Assets: Diversified, Well-Balanced Global Portfolio
Our Assets Diversified, Well-Balanced Global Portfolio www.eldoradogold.com 4
Slide 5: Proven Track Record
Proven Track Record Significant Growth at Low Costs Increasing Reserves & Resources 60 40,000 35,000 50 Oz / 1,000 Shares 30,000 Thousand Ounces Over the past 5 years we have: 40 25,000 30 20,000 15,000 Doubled production 20 10,000 10 5,000 Materially increased reserves 0 0 and resources per sha
Slide 6: Q1 Highlights: Solid Quarter, Robust Financial Position
Q1 Highlights Solid Quarter, Robust Financial Position Financial and Operating Results Q1 2013 Q1 2012 Revenues (M) $338.1 $271.5 Gold produced (oz) 163,768 155,535 Gold sold (oz) 189,346 150,661 Average realized gold price ($/oz) $1,622 $1,707 Cash operating costs ($/ozsold)(1) $505 $452 Total cash
Slide 7: Strong Profit Margins
Strong Profit Margins Reflects Quality of Assets and Cost Management Expanding Margins per Ounce Strong Gross Profit Margins vs Peer Group 1,800 75% 1,600 70% 1,400 1,200 65% Gross Profit Margin (%) 1,000 US$/oz 60% 800 600 55% 400 50% 200 0 45% 2008 2009 2010 2011 2012 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Opera
Slide 8: 2013 Guidance: Focusing on Delivery
2013 Guidance Focusing on Delivery Production/Sales Unit Low High Development Capital ($488m) Kisladag oz 290,000 300,000 Kışladağ Efemcukuru oz 125,000 135,000 Skouries Tanjianshan oz 90,000 100,000 27% 16% Perama Hill White Mountain oz 60,000 70,000 Olympias Jinfeng oz 105,000 115,000 14% Efemçuku
Slide 9: All-In Cash Costs: Eldorado vs Peers
All-In Cash Costs Eldorado vs Peers Historic Industry All-In Cash Cost ($/oz) 2013E All-In Cash Cost ($/oz) 1,500 1,500 1,400 1,400 1,300 1,300 1,200 1,200 1,100 1,100 1,000 1,000 Eldorado All-In Cash Costs ($/oz) All-In Cash Costs ($/oz) 900 2013E 900 (company estimate) 800 800 700 700 600 600 500
Slide 10: A Leading Growth Profile: Expanding Production while Reducing Costs
A Leading Growth Profile Expanding Production while Reducing Costs Gold Production and Cash Costs 2012-2016 CAGR 2012-2016 (%) 1,800 30% 25% 1,600 Gold Production (Koz) / Operating Cash Cost ($/oz) 20% 1,400 15% 1,200 10% 1,000 5% 800 0% 600 Source: Morgan Stanley 400 200 Over 1.5 million ounces o
Slide 11: A Leading Growth Profile: Increasing Production at Low All-In Costs
A Leading Growth Profile Increasing Production at Low All-In Costs 7,500 $5.6B 7,300 7,100 Barrick, $19.3B 6,900 $5.6B 3,500 2013E Production (Koz) 3,250 6,700 3,000 2,750 6,500 2,500 400 500 600 700 800 900 1,000 1,100 1,200 1,300 1,400 2,250 Goldcorp, $23.4B Kinross, $6.1B 2,000 1,750 1,500 Yamana
Slide 12: Multiple Sources of Growth
Multiple Sources of Growth Low Risk Expansion and Flexible Development Growth Through Development & Expansion 1,600,000 Eastern Dragon Number of projects and 1,400,000 China phased development provide high option value 1,200,000 Development in Greece & Romania Adds ~500,000 oz of Annual Producti
Slide 13: Disciplined Capital Outlay
Disciplined Capital Outlay Development Capital Spread Across Multiple Projects Total Development Capex Split – $2B Spending $2 billion globally across 4% 5 operating mines and 5 development 16% Greece projects Turkey 52% Romania Spending ~$1 billion in Greece across 28% China 3 projects (~50% of
Slide 14: Highly Capital Efficient Projects
Highly Capital Efficient Projects Lowest Capex per Incremental Ounce of Production Peer Group Eldorado Projects* $7,000 $6,000 Capex / Avg Annual Gold Production $5,000 $4,000 $3,000 $2,000 $1,000 $0 Eastern Olympias Skouries Kisladag Perama Certej Dragon Phase II Open-Pit Expansion Hill Source: TD
Slide 15: Returning Capital to Shareholders
Returning Capital to Shareholders High Dividend Payout Ratio Dividend as % of Adjusted Earnings Sustainable dividend 35% formula – linked to gold price and ounces sold 30% Formula encourages capital discipline and 25% improved capital return predictability 20% Gold Price Dividend 15% (US$/oz) (C
Slide 16: Why Invest in Eldorado?
Why Invest in Eldorado? Our Competitive Strengths 3. Disciplined 2. Growth Balance Sheet 1. Strength Diversified, well- balanced portfolio Solid Low risk, near-term $827.5M in Cash and growth from Kisladag Foundations Term Deposits expansion $375M in available Flexible development Strong
Slide 17: Thank You
Thank You TSX: ELD NYSE: EGO Investor Relations: Nancy Woo (604) 601 6650 nancyw@eldoradogold.com Total Shares Outstanding: 714.6M (at March 31, 2013) Efemcukuru Processing Plant, Turkey