+ All Categories
Home > Investor Relations > Dgc 16 01_26 - td conference

Dgc 16 01_26 - td conference

Date post: 12-Apr-2017
Category:
Upload: detourgold
View: 2,836 times
Download: 0 times
Share this document with a friend
39
1 TD Securities Mining Conference January 26-27, 2016 CANADA’S INTERMEDIATE GOLD PRODUCER
Transcript
Page 1: Dgc 16 01_26 - td conference

1

TD Securities Mining Conference

January 26-27, 2016

CANADA’S INTERMEDIATE GOLD PRODUCER

Page 2: Dgc 16 01_26 - td conference

2

Forward Looking Information This presentation contains certain forward-looking information and statements as defined in applicable securities law (referred to herein as

“forward-looking statements”). Forward-looking statements include, but are not limited to, statements with respect to the 2016 guidance

(gold production, total cash costs, all-in sustaining costs, and capital expenditures), updated mine plan and economic analysis of the Detour

Lake mine including, but not limited to, the life of mine plan, the waste to ore ratio, processing and production rates, grades, metallurgical

recovery rates, operating and capital costs, the projected life of mine, the net present value, opportunities to optimize the mine operation,

the success and continuation of exploration activities, the future price of gold, reclamation obligations, government regulations and

environmental risks.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance

or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-

looking statements. These risks, uncertainties and other factors include, but are not limited to, assumptions and parameters underlying the

life of mine plan not being realized, a decrease in the future gold price, discrepancies between actual and estimated production, changes in

costs (including labour, supplies, fuel and equipment), changes to tax rates; environmental compliance and changes in environmental

legislation and regulation, exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and

development industry, as well as those risk factors discussed in the related Technical Report and section entitled “Description of Business -

Risk Factors” in Detour Gold’s 2014 AIF and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at

www.sedar.com.

Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, including, but not limited to,

assumptions about the following: the availability of financing for exploration and development activities; operating and sustaining capital

costs; the Company’s ability to attract and retain skilled staff; sensitivity to metal prices and other sensitivities; the supply and demand for,

and the level and volatility of the price of, gold; the supply and availability of consumables and services; the exchange rates of the Canadian

dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve

and resource estimates are based; market competition; ongoing relations with employees and impacted communities and general business

and economic conditions. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking

statements contained herein are made as of the date hereof, or such other date or dates specified in such statements.

All forward-looking statements in this presentation are necessarily based on opinions and estimates made as of the date such statements

are made and are subject to important risk factors and uncertainties, many of which cannot be controlled or predicted. Detour Gold and the

Qualified Persons who authored the associated Technical Report undertake no obligation to update publicly or otherwise revise any

forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be

required by law.

Page 3: Dgc 16 01_26 - td conference

3

Notes to Investors Non-IFRS Financial Performance Measures Detour Gold has included non-IFRS measures in this presentation. The Company believes that these measures, in addition to conventional

measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company.

The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for

measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under

IFRS, and therefore may not be comparable to other issuers. Other companies may calculate these measures differently as a result of

differences in underlying principles and policies applied.

Total site costs and total site costs per ounce

Detour Gold reports total site costs and total site costs per ounce on a produced basis in this presentation. Total site costs include

production and operating costs such as mining, processing, site general and administration, bullion shipment, refining, agreements with

Aboriginal communities, capital costs (excluding closure costs) and net of silver sales. These are exclusive of depreciation and depletion.

The Company calculates total site costs per ounce as the sum of total site costs (as described above) divided by the total gold ounces

produced. Gold ounces produced is noted before delivering the royalty in kind ounces.

Unit costs

Detour Gold reports the following unit costs:

Mining unit costs: calculated as mining costs divided by total tonnes mined (ore + waste).

Processing unit costs: calculated as process costs (excluding bullion delivery and refining) divided by the total tonnes milled.

G&A unit costs: calculated as site G&A costs (excluding costs related to agreements with Aboriginal communities) divided by total tonnes

milled.

All-in sustaining costs

The Company believes this measure more fully defines the total costs associated with producing gold. The Company calculates all-in

sustaining costs as the sum of total cash costs (as described below), share-based compensation, corporate general and administrative

expense, exploration and evaluation expenses that are sustaining in nature, reclamation cost accretion (also known as unwinding of the

discount on decommissioning and restoration provisions), sustaining capital including deferred stripping, and realized gains and losses on

hedges due to operating and capital costs, all divided by the total gold ounces sold to arrive at a per ounce figure.

Total cash costs

Total cash costs are reported on a sales basis. Total cash costs include production costs such as mining, processing, refining and site

administration, agreements with Aboriginal communities, less non-cash share-based compensation and net of silver sales divided by gold

ounces sold to arrive at total cash costs per gold ounce sold. The measure also includes other mine related costs incurred such as mine

standby costs and current inventory write downs. Production costs are exclusive of depreciation and depletion. Production costs include the

costs associated with providing the royalty in kind ounces.

Page 4: Dgc 16 01_26 - td conference

4

Notes to Investors The mineral reserve and resource estimates reported in this presentation were prepared in accordance with Canadian National Instrument

43-101Standards of Disclosure for Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory authorities. For United

States reporting purposes, the United States Securities and Exchange Commission (“SEC”) applies different standards in order to classify

mineralization as a reserve. In particular, while the terms “measured,” “indicated” and “inferred” mineral resources are required pursuant to

NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are

cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In

addition, “inferred” mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and

legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under

Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources,

except in rare cases.

Technical Report On January 25, 2016, Detour Gold announced an updated life of mine plan for the Detour Lake operation and filed a NI 43-101 compliant

Technical Report on SEDAR. The Technical report was prepared by the following Qualified Persons from Detour Gold: Drew Anwyll, P.Eng.,

Senior VP Technical Services (lead author); Andrew Croal, P.Eng., Director Technical Services; Ruben Wallin, P.Eng., Vice President

Environment and Sustainability; David Ritchie, M.Eng., P.Eng., Principal Geotechnical Engineer for AMEC Foster Wheeler acting as TMA

Engineer of Record; and Jacques McMullen, P.Eng. Corporate Technical Advisor.

Qualified Persons The scientific and technical content of this presentation was reviewed, verified and approved by Drew Anwyll, P.Eng., Senior Vice President

Technical Services, a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of

Disclosure for Mineral Projects”.

All costs are presented in United States dollars except as noted.

Information Containing Estimates of Mineral Reserves and Resources

Page 5: Dgc 16 01_26 - td conference

5

Unique Investment Opportunity

Mining-friendly Jurisdiction

Large-scale, long mine life

Strong cash flow profile

Production growth opportunities

Favourable exposure to

Canadian Dollar

Largest gold producing mine not

controlled by a senior producer

DOMINANT

GOLD PRODUCER

IN CANADA

Page 6: Dgc 16 01_26 - td conference

6

Gold production of 505,558 ounces

All-in sustainable costs declined ~35%

during 2015

Debt reduced by $123 million

Cash position increase to ~$161 M

Electricity contract extended 5 years

to end of 2024

Encouraging high-grade gold intercepts

at Lower Detour

2015 Highlights

Delivering strong performance at Detour Lake Mine

232

457 506

0

100

200

300

400

500

2013 2014 2015

2013-2015 Gold

Production (k oz)

Page 7: Dgc 16 01_26 - td conference

7

Year-Over-Year Improvements

2015 2014

Total mined (Mt) 90.7 76.8

Strip ratio (waste:ore) 2.9 3.7

Mining rate (tpd) 249,000 210,000

Ore milled (Mt) 19.8 17.7

Mill grade (g/t Au) 0.88 0.88

Recovery (%) 91 91

Mill throughput (tpd) 54,114 48,563

Ounces produced (oz) 505,558 456,634

11% Increase in Gold Production

Page 8: Dgc 16 01_26 - td conference

8

2015 BUDGET

238,000 tpd

(87 Mt total mined)

2015 Key Targets Realized

249,000 tpd (91 Mt total mined)

54,000 tpd

(2,600 tpoh at 87% availability)

1 MINING RATE 2 MILL THROUGHPUT RATE

54,114 tpd (2,680 tpoh at 84% availability)

ACHIEVED ACHIEVED

Page 9: Dgc 16 01_26 - td conference

9

106

125 128

146

0

20

40

60

80

100

120

140

Q1 Q2 Q3 Q4

2015 Ending with Strong Q4

2015 Gold Production (k oz)

Record performance in last quarter

Gold production:

146,417 oz Improved grades:

0.98 g/t

Access to higher grades

from Phase 1 pit

Page 10: Dgc 16 01_26 - td conference

10

106 125 128 146

$1,321

$1,030 $1,071

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

0

50

100

150

200

Q1 Q2 Q3 Q4

2015 All-in Sustaining Costs

Meeting low end of 2015 guidance

1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.

2. 2015 estimates subject to year-end audit.

■ AISC ($/oz sold)1

■ Gold Production (k oz)

2015 Estimated AISC 1,2

$1,040-1,060 /oz sold

with Q4 at $850-875/oz sold

Estimated sustaining capital costs 2

$90 M

Capitalized stripping costs

$10 M

$850-875

Page 11: Dgc 16 01_26 - td conference

11

2016 Guidance1

TCC2

$675-

$750

AISC/oz sold2

$840-$940

540,000 -

590,000

Gold ounces

ESTIMATED

COSTS

ESTIMATED

PRODUCTION

1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.

Cost assumptions:

Gold price of $1,075/oz, US$/C$ exchange rate of 1.33, diesel fuel price of

C$0.75/L, and power cost of C$0.04/kWh

2016 Strong production growth

Page 12: Dgc 16 01_26 - td conference

12

2016 Operating Plan

1 MINE 2 MILL

Mining target:

90-100 Mt total Strip ratio (SR) projected:

3.3:1

Milling target:

>20 Mt ore Plant improvement plan

› 410-conveyor: modify to

2 separate conveyor units

Quarterly production range: 125-150 k oz

Page 13: Dgc 16 01_26 - td conference

13

2016 Sustaining Capital

Mine

$15 M

TMA

$30 M

Mill

$10 M

Other

$10 M

13

2016 All-in Sustaining Costs (AISC)

Forecast

Total Cash Costs (TCC) $675-750/oz sold1

Sustaining Capital $60-70 M

Capitalized Stripping $5-10 M

Corporate G&A $25 M

Exploration $2-4 M

AISC $840-940/oz sold1

Additional, non-sustaining capital of ~$8 M for West Detour

& $8-10 M for Lower Detour definition drilling

1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.

Page 14: Dgc 16 01_26 - td conference

14

Detour Lake Mine

New Life of Mine (LOM) Plan

Assumptions Long-Term

Gold price $1,200/oz

US$/C$ 1.23

Diesel C$0.80/L

Power cost C$0.08/kWh

Page 15: Dgc 16 01_26 - td conference

15

LOM Plan Goals

New LOM Plan: De-risks with West Detour

Optimizes cash flow

Improves NPV

De-risk execution plan

Incorporate gained experience

Include West Detour

Improve production profile

Defer near-term capital

Page 16: Dgc 16 01_26 - td conference

16

De-risked New LOM Plan

Key differences from prior study:

Lowered maximum mining rate from 140 to 124 Mt

Reduced operational risks:

› Reduced strip ratio for the first 9 yrs from 4.8:1 to 4.0:1

(deferring 160 Mt of waste)

› Incorporated second feed source from West Detour

Increased plant throughput capacity to 23 Mt (post-2018) from

22.3 Mt (post-2017)

Rationalized capital profile

Added processing of fines

Potential use West Detour pit for waste stockpiles and tailings

deposition

Page 17: Dgc 16 01_26 - td conference

17

LOM Summary

Key Statistics 01/2016

Proven & Probable Reserves (M oz) 1 16.4

Average gold grade (g/t) 0.99

Estimated gold recovery (%) 92

Mine life (years) 23

Average annual gold production (oz) 655,000

Total Site Costs 2 $690/oz

1. Estimated using a gold price of $1,000/oz and a US$/C$ exchange rate of 1.10. Refer to Slide 28 for additional details.

2. Total site costs are reported in per ounce produced. Refer to the section on Non-IFRS Performance Measures on slide 3.

Mining rates peaking at 124 Mt/yr with next 9 yrs averaging 114 Mt/yr

Mill throughput increasing from 56,000 tpd to 63,000 tpd in 2019

West Detour mine life of ~10 yrs

Page 18: Dgc 16 01_26 - td conference

18

617 607 721

655

0

100

200

300

400

500

600

700

2016-18 2019-21 2022-24 LOM

LOM Gold Production Profile

Addition of West Detour

provides second feed

source (pre-stripping in

2018)

Processing of ‘fines’

adds third source of ore

(starting in 2019 at

maximum of 1 Mt/yr)

Average gold production

over next 9 years:

648 k oz

Yearly average gold production (k oz) per period

0.98 g/t 0.89 g/t 1.06 g/t 0.99 g/t Grade

Page 19: Dgc 16 01_26 - td conference

19

19

LOM Operating Costs

1. Includes all site costs including bullion delivery, refining and costs related to agreements with Aboriginal communities.

Yearly Average Cost per Period

2016-18 2019-21 2022-24 LOM

Mining (C$/t mined) 2.74 2.58 2.54 2.76

Processing (C$/t milled) 8.34 7.20 7.19 8.14

G&A (C$/t milled) 2.83 2.45 2.43 2.47

Site Operating Costs1 (C$ M) 529 539 534 512

Higher LOM mining costs than prior study (C$2.76/t vs C$2.60/t)

mined due to lower assumed productivities and increased

operating costs for smaller sized West Detour fleet

~75% of costs in Canadian dollars

Un

it C

osts

Page 20: Dgc 16 01_26 - td conference

20

Yearly Average per Period (C$M) Total (C$M)

2016-18 2019-21 2022-24 LOM LOM

Capital costs 105 62 28 53 1,225 1

LOM Capital Costs

Total 2016-18 capital costs of ~C$314 M, including C$80 M

for West Detour

Total LOM capital of ~C$104 M for West Detour

~60% of capital costs in Canadian dollars

1. Includes closure costs.

Page 21: Dgc 16 01_26 - td conference

21

LOM Economic Analysis1

(in C$)

Yearly Average per Period Total

2016-18 2019-21 2022-24 LOM LOM

Pre-tax cash flow $242 M $278 M $481 M $381 M $8.8 B

NPV 5% (pre-tax) $4.8 B

NPV 5% (after tax) C$3.9 B

Exchange Rate

Gold price

1.10 1.23 1.30 1.40

After Tax NPV 5% (C$ Billion)

$1,000/oz 1.9 2.5 2.9 3.3

$1,100/oz 2.6 3.2 3.6 4.0

$1,200/oz 3.2 3.9 4.2 4.8

$1,300/oz 3.8 4.5 4.9 5.5

$1,400/oz 4.3 5.1 5.6 6.2

1. LT gold price (2018+) and LT exchange rate (2018+).

Increase in $100/oz ≈

Increase C$500 M

After-Tax NPV5%

Page 22: Dgc 16 01_26 - td conference

22

LOM Opportunities

Main opportunities not included in LOM Plan

Mine

Improve productivities and reduce

maintenance costs

Block model performance giving more

ounces

Plant

Bring low grade fines earlier than 2019

Consider reclaim of fines from medium

grade stockpiles

Accelerate mill ramp-up and improve

operating time (> 23 Mt/yr)

Improve gold recovery (>92%)

Page 23: Dgc 16 01_26 - td conference

23

2016 Drilling Program

Zone 58N = 60,000 m

25-metre in-fill program

› Upper 250 metres

› Test continuity

50-metre in-fill program

› Lower 450 metres

› Define extent and tonnage

Additional drilling if positive results

Lower Detour trend = 8,000-10,000 m

Test targets on 25 km trend

Regional = 5,000-7,000 m

Zone 58N - Qtz-tourmaline

stockworks in altered

feldspar porphyry

Page 24: Dgc 16 01_26 - td conference

24

Objectives

Execute at Detour Lake

› Growing cash flows

Disciplined capital allocation:

Balance between internal growth

› Development of Block A

› Exploration of Lower Detour and

large claim block

and debt reduction

Longer term…assess when external

growth opportunities are appropriate

Near-term Strategic Focus

Increase production

Lower costs

Optimize our assets

Page 25: Dgc 16 01_26 - td conference

25

PRODUCTION GROWTH /

DECLINING UNIT COSTS

REALIZE VALUE-ENHANCING

OPPORTUNITIES

GROWING CASH FLOW

A GREAT TIME TO BE A

GOLD PRODUCER!

Page 26: Dgc 16 01_26 - td conference

26

ADDITIONAL information

2015 Safety Performance

2015 Operational Statistics

LOM Production Plan

Year-End 2015 Reserves and

Resources

Detour Lake & West Detour

Processing of Fines

Exploration Focus: Lower Detour

Benefiting from a Weak $Cdn

Shareholder Information

Analyst Coverage

Management & Directors

Contact Information

Page 27: Dgc 16 01_26 - td conference

27

3.9

2.5 2.3

0

0.5

1

1.5

2

2.5

3

3.5

4

2014 ON

Average2

Total Recordable Injury

Frequency Rate (TRIFR)1

2015 Safety Performance

2015 2014

1. Total recordable injury frequency rate = Total recordable injuries x 200,000 hours divided by total man hours worked.

2. 2014 Ontario Mining Industry average (source: Workplace Safety North, WSIB).

Page 28: Dgc 16 01_26 - td conference

28

2015 Operational Statistics

Q1 Q2 Q3 Q4 2015

Ore mined (Mt) 3.8 6.4 6.5 6.3 23.0

Waste mined (Mt) 16.0 19.1 17.0 15.7 67.7

Total mined (Mt) 19.8 25.5 23.5 22.0 90.7

Strip ratio (waste:ore) 4.2 3.0 2.6 2.5 2.9

Mining rate (tpd) 220,000 280,000 255,000 239,000 249,000

Ore milled (Mt) 4.3 5.2 5.2 5.1 19.8

Mill grade (g/t Au) 0.84 0.82 0.86 0.98 0.88

Recovery (%) 91 91 90 91 91

Mill throughput (tpd) 47,797 57,015 56,015 55,522 54,114

Mill availability (%) 78 88 85 86 84

Ounces produced (oz) 105,572 125,348 128,222 146,417 505,558

Ounces sold (oz) 104,497 123,296 126,241 132,209 486,243

Page 29: Dgc 16 01_26 - td conference

29

LOM Production Plan

Yearly Average per Period Total

2016-

18

2019-

21

2022-

24

2025-

27

2028-

30

2031-

33

2034-

36

2037-

38 LOM LOM

Ore milled (Mt) 21.4 23.0 23.0 23.0 23.0 23.0 23.0 18.1 22.4 514

Head grade (g/t Au) 0.98 0.89 1.06 0.89 0.87 1.06 1.15 1.08 0.99 0.99

Gold recovery (%) 91.5 92.0 92.0 92.0 92.0 92.0 92.0 92.0 91.9 91.9

Gold production (k oz) 617 607 721 604 589 719 781 580 655 15,072

Total mined (Mt) 104.8 119.4 118.8 123.2 118.7 88.5 51.5 19.4 96.3 2,214

Strip ratio (waste:ore) 3.8 4.9 3.5 4.9 5.5 2.5 1.4 0.5 3.5 3.5

Page 30: Dgc 16 01_26 - td conference

30

Year-end 2015 Reserves & Resources Notes:

1. Mineral resources and reserves were

completed by Detour Gold in conformity

with generally accepted definitions and

guidelines given in the Canadian Institute

of Mining, Metallurgy and Petroleum (CIM)

Standards on Mineral Resources and

Mineral Reserves as required by NI 43-

101.

2. Mineral reserves were estimated using a

gold price of $1,000/oz and mineral

resources were estimated using a gold

price of $1,200/oz at a US$/C$ exchange

rate of 1.10.

3. Mineral reserves and resources were

based on a cut-off grade of 0.50 g/t Au.

4. Mineral reserves included an average

mining dilution of 5.3% from 2016 to 2018

and 4% for 2018+, at a diluting grade of

0.20g/t Au. Mining ore loss of 5% also

included.

5. Only Probable LG Fines scheduled in the

mine plan were reported as mineral

reserves. The LG fines reserves were

based on a cut-off grade of 0.40 g/t Au.

6. Mineral resources are reported exclusive

of mineral reserves. Mineral resources

that are not mineral reserves do not have

demonstrated economic viability.

7. Totals may not add due to rounding.

At Dec. 31, 2015

Reserves Tonnes

(millions)

Grade

(g/t Au)

Contained

Gold Ounces

(000’s oz)

Detour Lake Mine Proven 89.2 1.26 3,603

Probable 351.6 0.95 10,779

Stockpiles 4.8 0.64 98

Total P&P 445.5 1.01 14,480

West Detour Proven 1.8 0.99 56

Probable 47.0 0.97 1,473

Total P&P 48.8 0.98 1,529

LG Fines Probable 20.0 0.60 386

Total P&P 514.3 0.99 16,395

Resources

Detour Lake Mine Measured 17.4 1.33 746

Indicated 66.2 1.00 2,125

M+I 83.6 1.07 2,871

West Detour Measured 0.4 0.85 10

Indicated 36.5 0.86 1,005

M+I 36.9 0.86 1,015

Total M+I 120.5 1.00 3,886

Detour Lake Mine Inferred 33.7 0.81 875

West Detour Inferred 8.6 0.89 246

Total Inferred 42.3 0.82 1,121

Page 31: Dgc 16 01_26 - td conference

31

Detour Lake & West Detour

US$1,000/oz

US$1,200/oz

14.5 Moz

@ 1.01 g/t Au P+P

1.5 Moz

@ 0.98 g/t Au P+P

~5.5 km

Phase 1 Pit

1. Includes LG Fines (386,000 oz @ 0.60 g/t Au). Mineral reserves as of December 31, 2015.

Total P+P = 16.4 Moz @ 0.99 g/t Au1

Page 32: Dgc 16 01_26 - td conference

32

Segregation of fines

Gold concentrates in the fine material on the

top portion of the low grade stockpile

Tests validating grade and milling rate

improvement

41% grade improvement (from 0.44 g/t to 0.62 g/t)

25% of fine material displaces fresh feed ore

Incorporated into LOM plan

Up to 1 Mt/yr starting in 2019

Processing of Fines (LG Fines)

Low-grade stockpile

(avg. grade 0.44 g/t)

Natural segregation of fines

from unloading truck

Page 33: Dgc 16 01_26 - td conference

33

Lower Detour Area

630 km2

Exploration Focus: Lower Detour

Block A

Resource

Detour Lake

OP Mine

Page 34: Dgc 16 01_26 - td conference

34

Exploration Focus: Lower Detour*

*For 2015 results for holes previously released, refer to long section in press release dated October 20, 2015.

Page 35: Dgc 16 01_26 - td conference

35

Benefiting from a Weak Cdn $

Gold Price in US Dollars

vs Canadian Dollars

$1,372

$1,467

$1,551

$Cdn

Now

Gold Performance

2015 to Date

$Cdn: +13%

$US: -7%

1-Jan-15 31-Dec-15 22-Jan-16

FX rate 1.16 1.38 1.42

$1,182

$1,060 $1,096

$US

Page 36: Dgc 16 01_26 - td conference

36

1. Conversion price for the Notes is $38.50.

2. Approximate cash and short-term investments at December 31, 2015.

Shareholder Information

>80% INSTITUTIONS TOTAL

8.1 M Share options

13.0 M Convertible notes 1

192.1 M FULLY DILUTED

171.0 M Issued & outstanding

Share Structure (03/31/2014) Top Shareholders

10%

C$2.6

6

BILLION market cap $161.0 MILLION

cash position2

Share Structure (December 31, 2015) Top Shareholders

Blackrock

9% Paulson & Co.

Page 37: Dgc 16 01_26 - td conference

37

Initiating

Research Firm Analyst Target Price at

January 25, 2016

07.06.11 Haywood Kerry Smith $18.75

07.07.09 Paradigm Don Blyth/Don MacLean $22.50

07.08.07 Raymond James Phil Russo $19.25

07.11.26 National Bank Steve Parsons $17.50

07.12.20 Macquarie Mike Siperco $21.00

08.01.14 Canaccord Rahul Paul $20.00

08.07.14 TD Dan Earle $22.00

08.09.04 RBC Dan Rollins $19.00

08.11.06 BMO NB Brian Quast $16.75

09.06.17 Laurentian Pierre Vaillancourt $17.00

10.05.19 CIBC World Markets Cosmos Chiu $21.00

10.07.22 Credit Suisse Anita Soni $19.50

13.04.16 Scotiabank Trevor Turnbull $19.00

13.08.14 Desjardins Michael Parkin $17.50

13.11.12 Beacon Securities Michael Curran $16.00

13.12.09 GMP Securities Ian Parkinson $13.25

14.02.06 Cormark Securities Richard Gray/Tyron Breytenbach $24.50

14.04.22 Goldman Sachs Andrew Quail $17.00

14.06.17 Dundee Capital Markets Josh Wolfson $22.50

Average target C$19.16

Analyst Coverage (19)

Page 38: Dgc 16 01_26 - td conference

38

Paul Martin President and CEO

Pierre Beaudoin COO

James Mavor CFO

Drew Anwyll Sr VP Technical Services

Julie Galloway Sr VP General Counsel &

Corporate Secretary

Derek Teevan Sr VP Corporate &

Aboriginal Affairs

Jean-François Métail VP Mineral Resource

Management

Rachel Pineault VP HR & Aboriginal Affairs

Ruben Wallin VP Environment &

Sustainability

Charles Hennessey Mine General Manager

Laurie Gaborit Director Investor Relations

Alberto Heredia Controller

Lisa Colnett

Robert E. Doyle

André Falzon

Alex G. Morrison

Jonathan Rubenstein

Graham Wozniak

Ingrid Hibbard

Michael Kenyon

Paul Martin

Management & Directors

Management

Directors

Page 39: Dgc 16 01_26 - td conference

39

Laurie Gaborit Director Investor Relations

Email: [email protected]

Phone: 416.304.0581

Paul Martin President and Chief Executive Officer

Email: [email protected]

Phone: 416.304.0800

www.detourgold.com

Contact Information


Recommended