Centerra Gold Inc. · TSX:CG
Centerra Gold — FY2016 Earnings Presentation
21 slides from Centerra Gold's earnings presentation, Feb 24, 2017
Slide 1: Q4 and Year-end 2016 Results
Q4 and Year-end 2016 Results Conference Call – February 24, 2017 TSX: CG www.centerragold.com
Slide 2: Senior Management Participants
Senior Management Participants SCOTT PERRY Chief Executive Officer FRANK HERBERT President GORDON REID Chief Operating Officer DARREN MILLMAN Chief Financial Officer February 2017 2
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: Q4 & 2016 Financial Results – February 24, 2017
Q4 & 2016 Financial Results – February 24, 2017 Scott Perry - Chief Executive Officer TSX: CG www.centerragold.com
Slide 5: Q4 & 2016 Corporate Update
Q4 & 2016 Corporate Update Safety – Continue to roll out “Work Safe : Home Safe” Program Across the Company Strong Gold Production of 598,677 Ounces, including 550,960 Ounces at Kumtor 2016 All-In Sustaining Cost1 of $682 Per Ounce, Kumtor achieved $640 Per Ounce, both lower than revised guida
Slide 6: 2016 Corporate Update
2016 Corporate Update 2016: Internally February 2017 Funded Business (US$) Strong Balance Sheet (US$) 900 2 (as of December 31 2016) 74 318 8 800 237 700 Cash 1 US$ Millions 600 542 111 $409MM 500 23 Debt 400 409 $475MM 300 200 2015 Cash 1 Kumtor Mt Milligan EBRD debt TCM Other Shareholder 2016 Cash
Slide 7: Operational Excellence
Operational Excellence 2016 GUIDANCE vs ACTUAL: GROWING PRODUCTION AND DECLINING COSTS Production increase: up to 7%; Costs decline: up to 26%; 2016 Gold Production exceeds mid-point of revised guidance, AISC lower than mid-point of revised guidance › Underpins strong financial performance 2016 Kumt
Slide 8: Q4 & 2016 Operating Results – February 24, 2017
Q4 & 2016 Operating Results – February 24, 2017 Gordon Reid - Chief Operating Officer TSX: CG www.centerragold.com
Slide 9: Operating Highlights
Operating Highlights 2016 gold production - Kumtor 550,960 ounces, Mount Milligan 47,717 ounces1 2016 copper production - Mount Milligan 10,399,000 pounds1 Kumtor received the necessary permits and approvals for 2017 mine plan 2017 Company-wide guidance, 715,000 – 795,000 oz gold @ AISC4 $743 - $824
Slide 10: Mount Milligan
Mount Milligan Continue to optimize the permanent secondary crushing plant Focus on optimizing the mine and mill to increase gold and copper recoveries February 2017 10
Slide 11: Mineral Reserves - Proven & Probable
Mineral Reserves - Proven & Probable Proven and Probable Gold Mineral Reserves Increase to 16 million ounces Proven and Probable Copper Mineral Reserves are 2,049 million pounds Copper Mineral Reserves Proven Probable Total Proven and Probable Tonnes Grade Contained Tonnes Grade Contained Tonnes Gra
Slide 12: Q4 & 2016 Financial Results – February 24, 2016
Q4 & 2016 Financial Results – February 24, 2016 Darren Millman - Chief Financial Officer TSX: CG www.centerragold.com
Slide 13: Financial Highlights
Financial Highlights1 Quarter Quarter Ended Ended Year Ended Year Ended Dec.31, Dec.31, Dec.31, Dec.31, (in thousands, except ounces, per share amounts, and average realized price3) 2016 2015 2016 2015 Revenue(2) $305,723 $148,332 $760,758 $623,950 Total gold ounces sold(3) 225,996 135,064 580,496 5
Slide 14: Other Financial Highlights
Other Financial Highlights US$150 Million Project Financing Facility For Öksüt, EBRD joins UniCredit Facility Acquisition of TCM now complete. Focus now shifts to realisation of synergies identified New US$325 Million Revolver and Term Loan Facility with lending syndicate (5-year term) Implemented a
Slide 15: Q4 and 2016 Financial Results – February 24, 2016
Q4 and 2016 Financial Results – February 24, 2016 Scott Perry - Chief Executive Officer TSX: CG www.centerragold.com
Slide 16: Centerra: Built For Success
Centerra: Built For Success Corporate Highlights Consensus Asset NAV Breakdown Internationally Diversified Gold Producer US 0% Kyrgyzstan Closed Thompson Creek Acquisition 33% Canada Up to 795kozpa gold at AISC1 of $743 to $824 per ounce 46% and 60M lbs of copper Significant operational cash flow pr
Slide 17: Question & Answer Session
Q4 and 2016 Financial Results – February 24, 2016 Question & Answer Session TSX: CG www.centerragold.com
Slide 18: Appendix
Appendix
Slide 19: Centerra: 2017 Guidance
Centerra: 2017 Guidance 2017 All-in Sustaining 2017 Gold Production 2017 Copper Production Costs on a By-product basis1 (ounces) (millions pounds) (per ounce sold) Kumtor Mine 455,000 – 505,000 - $836 – $925 Mount Milligan 260,000 – 290,000 55 – 65 $457 – $508 Centerra 715,000 – 795,000 55 – 65 $743
Slide 20: 2017 Guidance: Sensitivities
2017 Guidance: Sensitivities Impact on Impact on ($ millions) ($ per ounce sold) Change Costs Revenues Cash flows Net Earnings AISC(2) on by- (after tax) product basis Gold Price $50/oz 3.4 - 3.8 31.2 – 34.7 27.7 - 30.7 27.7 - 30.7 1.0 Copper Price(3) 10% 0.1 - 0.2 4.6 – 6.7 4.5 – 6.6 4.5 – 6.6 6.3
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