OceanaGold CorporationOceanaGold CorporationUnlocking Embedded Value
Corporate PresentationCorporate PresentationJanuary 2010
Paul BibbyChief Executive Officer
M E lb htMarcus EngelbrechtChief Financial Officer
Darren Klinck
OceanaGold CorporationTSX, ASX, NZX : OGC
VP, Corporate & Investor Relations
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Cautionary NoteCautionary NoteCautionary NotesThe information contained in this presentation is provided by OceanaGold Corporation (“OGC”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of anoffer to issue, securities of OGC or other financial products. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investmentdecision. The views, opinions and advice provided in this presentation reflect those of the individual presenters, and are provided for information purposes only. The presentation has been prepared without takinginto account the investment objectives financial situation or particular needs of any particular person No representation or warranty express or implied is made as to the fairness accuracy completeness orinto account the investment objectives, financial situation or particular needs of any particular person. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness orcorrectness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of OGC or its directors, officer, employees or agents, nor any other personaccepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation.This presentation contains "forward-looking information" or “forward-looking statements”, which may include, but is not limited to, statements with respect to the future financial and operating performance of OGCand its subsidiaries, its mining projects, the future price of commodities, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and resource estimates, costs of production,estimates of initial capital, sustaining capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of the development of new mines, costs and timing offuture exploration, requirements for additional capital, governmental regulation of mining operations and exploration operations, timing and receipt of approvals, consents and permits under applicable minerallegislation, environmental risks, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Forward-looking information orstatements involve known and unknown risks uncertainties and other factors which may cause the actual results performance or achievements of OGC and/or its affiliated companies to be materially differentstatements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of OGC and/or its affiliated companies to be materially differentfrom any future results, performance or achievements expressed or implied by the forward-looking information or statements, including those risk factors outlined under the heading “Risk Factors” in OGC’s currentannual information form filed with Canadian securities regulators on www.sedar.com. Forward-looking information or statements contained herein are made as of the date of this presentation and OGC disclaimsany obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as may be required under applicable securities laws. There is noassurance that forward-looking information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, no unduereliance should be placed on forward-looking information or statements due to the inherent uncertainty therein.This presentation does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person (as defined in Regulation S under the UnitedStates Securities Act of 1933, as amended (the "Securities Act")) ("U.S. Person"), or in any other jurisdiction in which such an offer would be illegal. OGC’s shares have not been and will not be registered underthe Securities Actthe Securities Act.Cautionary Notes regarding Technical InformationThis presentation includes disclosure of scientific and technical information, as well as information in relation to the calculation of reserves and resources, with respect to OGC’s mineral projects. OGC's disclosureof mineral reserve and mineral resource information is governed by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) under the guidelines set out in the Canadian Institute ofMining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time by the CIM (“CIM Standards”). Thedisclosure of mineral reserve and mineral resource information relating to OGC’s properties is based on the reporting requirements of the 2004 Edition of the “Australasian Code for Reporting of ExplorationResults, Mineral Resources and Ore Reserves” (“JORC Code”).CIM definitions of the terms “mineral reserve”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”,are substantially similar to the JORC Code corresponding definitions of the terms “ore reserve” “proved ore reserve” “probable ore reserve” “mineral resource” “measured mineral resource” “indicated mineralare substantially similar to the JORC Code corresponding definitions of the terms ore reserve , proved ore reserve , probable ore reserve , mineral resource , measured mineral resource , indicated mineralresource” and “inferred mineral resource”, respectively. Estimates of mineral resources and mineral reserves prepared in accordance with the JORC Code would not be materially different if prepared inaccordance with the CIM definitions applicable under NI 43-101.There can be no assurance that those portions of mineral resources that are not mineral reserves will ultimately be converted into mineral reserves. Mineral resources are not mineral reserves and do not havedemonstrated economic viability.The estimates of Mineral Reserves for New Zealand were prepared by, or under the supervision of R. Redden, whilst the Mineral Reserves for the Philippines were prepared by, or under the supervision of J.Wyche. The estimates of Mineral Resources were prepared by, or under the supervision of J. G. Moore. J. G. Moore, R. Redden and J. Wyche are Members of the Australian Institute of Mining and Metallurgyand are the Qualified Persons, as defined by NI 43-101. J.G. Moore, R. Redden and J. Wyche have sufficient experience, which is relevant to the style of mineralisation and type of deposits under consideration,and to the activities which they are undertaking to qualify as Competent Persons as defined in the JORC Code J G Moore and R Redden are full-time employees of OGC whilst J Wyche is a full-timeand to the activities which they are undertaking, to qualify as Competent Persons as defined in the JORC Code. J. G. Moore and R. Redden are full time employees of OGC, whilst J. Wyche is a full timeemployee of Australian Mine Design and Development Pty Ltd.For further information regarding OGC’s properties, reference should be made to the following NI 43-101 technical reports have been filed and are available at www.sedar.com under the OGC’s name: (a)“Technical Report for the Macraes Project located in the Province of Otago, New Zealand” dated November 9th, 2009, prepared by M. D. Cadzow and J. G. Moore, both of Oceana Gold (New Zealand) Limited; (b)“Independent Technical Report for the Reefton Project located in the Province of Westland, New Zealand” dated May 9, 2007, prepared by J. S. McIntyre, I. R. White and R. S. Frew of Behre Dolbear Australia PtyLimited, B. L. Gossage of RSG Global Pty Limited and R. R. Penter of GHD Limited; and (c) “Independent Technical Report for the Didipio Gold-Copper Project located in Luzon, Philippines” dated June 23, 2008,prepared by A. van der Heyden of Hellman and Schofield Proprietary Limited, J. Wyche of Australian Mine Design and Development Proprietary Limited and J. McIntyre of Behre Dolbear Australia Pty Limited.Each of the authors of the Technical Reports is a “qualified person” for the purposes of NI 43-101.This presentation uses the terms “measured” “indicated” and “inferred” resources U S persons are advised that while such terms are recognized and required by Canadian regulations the Securities and
OceanaGold Corporation
This presentation uses the terms measured , indicated and inferred resources. U.S. persons are advised that while such terms are recognized and required by Canadian regulations, the Securities andExchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or anypart of an inferred resources will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred resources may not form the basis of feasibility or other economic studies. U.S. persons arecautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. U.S. persons are also cautioned not to assume that all or any part of an inferred mineralresource exists, or is economically or legally mineable.
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Top 4 Australasian Based Gold Producer
Didipio • Produced 300Koz in 2009 @ < US$435 / oz (original
Top 4 Australasian Based Gold Producer
( gguidance of 280-300K oz @ US$425-475/oz
• 6 quarters of consistent operational performanceoperational performance
• 1st world production platform; 20 year gold mining history
• Finalising optimisation study on Didipio project
• Significant reserve expansion program underway in NZ
Current reserves are 1 94m oz (NZ) +
M lb
• Current reserves are 1.94m oz (NZ) + 1.65m oz (Philippines)
• Current resources are 3.78m oz (M&I) + 3.01m oz (Inferred) in NZ & 2.05m
(M&I) 0 33 (I f d) i hMelbourneReefton Open Cut
Macraes Open Cut &Development Project
Existing Operation
oz (M&I) + 0.33m oz (Inferred) in the Philippines
Frasers Underground
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Corporate Overview
Market Overview (22 Jan 2010)
Corporate Overview
Market Overview (22 Jan 2010)
Market Capitalisation US$325m
Shares Outstanding 186m
Non-listed Options 3m
Average Daily Trading Volume (last 90 days)
1.1m(last 90 days)
Financial Overview (Unaudited as of 31 Dec 2009)
Cash US$42m
Project Debt US$4m
Convertible BondsA$55M 5 75% Dec 2012
A$165m(S bj t t D 2010 P t ti )A$55M 5.75% Dec 2012
A$110M 7.0% Dec 2013
Hedge book liability (Mark to Market) US$89m
(Subject to Dec 2010 Put option)
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Management & Board Changes (2009)Management & Board Changes (2009)
Paul Bibby, CEO (joined in November 2009)• Metallurgist with broad international operations and business development
experience; previously CDO of Nyrstar in London and 23 years experience across Rio Tintoacross Rio Tinto
Marcus Engelbrecht, CFO (joined in January 2009)• 20 years experience with BHP Billiton and affiliated companies; former BHPB y p p ;
CFO for the Diamonds and Specialty Products group
Jake Klein, Director (joined the Board of Directors in December 2009)• Former CEO of Sino Gold Mining before merger with Eldorado Gold
Strengthened Operational Management team in New ZealandB l t d ith COO N Z l d NZ fi d M• Bolstered with COO-New Zealand + new NZ finance manager and Macraes operations manager
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M O C t MiMacraes Open Cut Mine
• ~ 140,000 oz annual production from , p4.6Mt ore @ 1.2 g/t
• Large open cut operation since 1990
• 3 millionth ounce to be poured in 2010
• Pressure oxidation autoclave at Macraes goldfield processes all NZMacraes goldfield processes all NZ ore
• 28 km of mineral trend; open cut i i t t d i l 1/3 f thmining concentrated in only 1/3 of the
goldfield so far
• Brownfields exploration program R 2 53m oz (M&I)As at Dec 31 2009 p p g
initiated in August 2009 has already extended mine life to 2016
Resources 2.53m oz (M&I)1.41m oz (Inferred)
Reserves 1.42m oz
Mi Lif Until 2016 (on
As at Dec 31, 2009
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Mine Life Until 2016 (on current reserves)
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F U d d MiFrasers Underground Mine• ~70,000 oz of approximate annual
d ti f 1Mt @ 2 7 /tproduction from 1Mt ore @ 2.7 g/t
• Commissioned in January 2008
O b d i th d di t i t• Ore body is the down-dip extension to Macraes, mining focused on higher grade hanging wall
• Ore body is open at depth
• Higher grade Panel 2 Deeps discovery made in April 2009 (~4g/t)discovery made in April 2009 ( 4g/t)
• Drilling from dedicated exploration drive underway
Resources 0.52m oz (M&I) 0.36m oz (Inferred)
Reserves 0.15m oz
As at Dec 31, 2009
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Mine Life 2013 (based on current reserves)
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R ft O C t MiReefton Open Cut Mine
• ~70,000 oz of approximate annual production from 1.2Mt ore @ 2.5 g/t
• Commissioned in 2007
C il d M f• Concentrate railed to Macraes for processing
• Historical mining district (production: g (p> 2M oz from hardrock; circa 8M oz from alluvials)
• 30 km of mineral tenements further• 30 km of mineral tenements – further exploration opportunities outside the immediate mining footprint
Resources 0 73m oz (M&I)As at Dec 31, 2009
• Brownfields exploration program commenced to extend mine life beyond 2013
Resources 0.73m oz (M&I)0.47m oz (Inferred)
Reserves 0.37m oz
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Mine Life 2013 (based on current reserves)
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Brownfields Exploration PotentialBrownfields Exploration Potential
C l t d A$24M it fi i i J l• Completed A$24M equity financing in July 2009 to support New Zealand brownfields exploration program
• Program commenced in August 2009. Now have 7 drills operating
• Goal to extend and maintain mine life of 7-8 years
• Preliminary resource estimate (114,000 oz) completed for Panel 2 Deeps (Fraserscompleted for Panel 2 Deeps (Frasers Underground) in September
• 876,000 oz added to reserves in December 2009 / January 2010December 2009 / January 2010
• Estimated 25,000 metre drill program to run through 2010
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Brownfields Exploration – Achieving ResultsBrownfields Exploration Achieving Results
- Updated 43-101 mineral resource announced November 2009announced November 2009
- Down-dip drill program ongoing
- Southern Pit reserves announced January 2010 (259,000 oz)
- Infill drill program to support reserve expansion
- Exploration drive commenced in Q3 2009 for drilling down dip from Panel 2
- Drill programs for Panel 2 Deeps and Panel 2 extension planned or underway
- Surface drilling for potential Panel 3 (down-dip of current mining area)
REEFTON
- Structural geologic mapping (in-pit) program ongoing
- In-pit exploration program at Empress and Souvenir Pits for additional reserves Drill
Frasers Underground
Mine
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Souvenir Pits for additional reserves. Drill program underway
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Philippines - Didipio Gold Copper ProjectPhilippines Didipio Gold Copper Project
• High grade gold-copper porphyry; future open pit and undergroundfuture open pit and underground operation
• Finalising Optimisation study (scope and capital cost) p )
• US$80M spent to date; majority of long lead-time items held; 60% bulk earth works completed;
• Ongoing collaboration with Philippines National Government –FTAA & mining permits being
i t i dmaintained• FTAA comprises 215 km2 with
additional 110 km2 in surrounding exploration permits
Based on June 2008 43-101 Tech. Report:
Reserves: 1.65m oz gold + 0.19mt copperResources: (M&I) 2.05m oz gold + 0.28mt Cu, (Inferred) 0 33m oz gold + 0 06mt Cuexploration permits
• Continued focus on community relations & environmental initiativesReviewing strategic options to
(Inferred) 0.33m oz gold + 0,06mt Cu
Reserve Grade: 1.48g/t Au + 0.56% Cu
2.5Mt ore processed pa
15 i lif ith l d ti f
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• Reviewing strategic options to maximize value
15 year mine life with annual production of 120,000 oz gold ; Copper 15,000 tonnes
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Philippines - Didipio Gold Copper Project
1.60
Didipio, Philippines (OGC)
Philippines Didipio Gold Copper ProjectSource: Wellington West Capital Markets
1.00
1.20
1.40
OK Tedi, PNG (IMN)
p , pp ( )
One of the higher grade gold-copper porphyries
rade
s (g
/t)
0 40
0.60
0.80 New Afton, B.C. (NGD)
Alumbrera, Argentina (G)O T l i M li (IVN)
Grasberg, Indonesia (FCX)
Cerro Casale, Chile (ABX/K)
Cadia Hill, Australia (NCM)
Brisas, Venezuela (GRZ) Xietongmen, China (KMK)
Mount Milligan B C (TRX) El Morro Chile (NGD)
Gol
d G
-
0.20
0.40
0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60
Mirador, Ecuador (CTQ)Mount Polley, B.C. (III)
Kemess North, B.C. (NGX)
Oyu Tolgoi, Mongolia (IVN)Agua Rica, Argentina (NNO)
Pebble, AL(TKO) Galore Creek, B.C. (NG)Mount Milligan, B.C. (TRX) El Morro, Chile (NGD)
Petaquila, Panama (IMN)Copper Grades (%)
A number ofA number of prospective targets within a 2 km radius of Didipio (Dinkidi)
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Production ProfileProduction Profile
Reefton commissioned
Frasers commissioned
556532
435475 490
400
500
500
600UNHEDGED
1
2
commissioned commissioned
435
300
400
ctio
n (k
oz)
400
(US$
/oz)
1
264300 280 280 280
200
old
Prod
uc
200
300
Cas
h C
osts
183264 280 280 280
100
Go
100
C
02007A 2008A 2009E 2010E 2011E 2012E
0
Gold Production (koz) Cash Cost (US$/oz)
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1 2009 Guidance of US$405 - US$435 per ounce2 2010 Guidance of US$455 - US$495 per ounce
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Consistent Operational PerformanceConsistent Operational Performance
31.0100,000 35
Reliable production from 3 operating mines
19 0
24.322.5
24.4
60 000
80,000
on (o
z)
25
30
mill
ions
)
62 75374,816 81,093 75,319 71,492 72,140
19.0
40,000
60,000
d Pr
oduc
tio
10
15
20
TDA
(USD
m
62,753
0
20,000Gol
d
0
5
10
EBIT
0Sep Qtr 08 Dec Qtr 08 Mar Qtr 09 Jun Qtr 09 Sep Qtr 09 Dec Qtr 09
0
Gold Production (oz) EBITDA (USD millions)
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2009 Overall Focus2009 Overall Focus
Pro ide stabilit and established the fo ndations for impro ed performance and gro thProvide stability and established the foundations for improved performance and growth
• Management delivered on commitments- 300K oz of production for 2009; lower cash costs of < $435/oz
• Completed organisational transition/renewal• Strengthened the balance sheet• Strengthened the balance sheet
- Generated positive cash flow and paid down project debt (US$9.8m)- Hedge book reduced by 98,000 oz
Raised A$24m via equity capital raising in July 2009- Raised A$24m via equity capital raising in July 2009
• Established additional mine life- Reserves increased by 876,000 oz (as at January 2010)
E l ti l ti f d i lif t i- Exploration evaluation focused on mine life extension
• Maintained the Didipio FTAA and associated permits• Increased shareholder value
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Focus for 2010 and BeyondFocus for 2010 and Beyond
Management aiming to extract further value by:Management aiming to extract further value by:
• Moving to a 100% unhedged producer, generating > US$100M operating cashflow per annum
• Continuing brownfields exploration program success; to maintain an unhedged reserve life of at least 7-8 yearsg y
• Ongoing strengthening of the balance sheet• Finalizing Didipio optimisation studies and pursue options to extract
maximum valuemaximum value • Maintaining reliable operating platform and attacking costs
OUTCOME: Meeting these objectives to provide the basis for further growth and continued share price appreciation
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Moving Towards 100% Unhedged in FY2011
Hedged Unhedged
Moving Towards 100% Unhedged in FY2011
350 000
Hedged UnhedgedFY2011 OceanaGold is 100% unhedged
Gold ProductionOunces
250 000300,000350,000
150 000200,000250,000
50 000100,000150,000
050,000
2009 2010 2011
OceanaGold Corporation
2009 2010 2011
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I d t C bl
EV/Production 2010E1,2
Industry Comparables
7,500
5,734
4,659 4,612 4,289 4,225
2 8574,000
6,000
8,000
$/oz
2,8572,357
1,612 1,269
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2,000
,
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6 8048,000
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EV/Production 2011E1,2
6,804
4,634 4,327 4,3243,784
3,2342,649
1,921 1 590
4,000
6,000
US
$/oz
1,921 1,5901,107
0
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1. Based on gold equivalent production forecasts per BMO Capital Markets Research (see below)2. EV: fully diluted in the money market capitalisation – fully diluted in the money working capital + long term debt. Market data as at 8 January 2010. As per BMO Capital Markets Research (see below)
Source: BMO Capital Markets, “Materials – Precious Metals & Minerals” (11th January 2010)
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I d t C blIndustry Comparables
P/Operating Cash Flow 2010E1,2
16.72x
11.28x 10.93x 10.66x 10.00x8 56x
12.0
16.0
20.0
p g
8.56x 7.57x 6.66x 6.20x 5.53x
0.0
4.0
8.0
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14.17x16.0
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P/Operating Cash Flow 2011E1,2
8.50x 8.22x 7.90x 7.89x
4.98x 4.82x 4.28x 3.65x
8.0
12.0
2.68x
0.0
4.0
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1. Market data as at 8 January 2010 per BMO Capital Markets research (see below)2. Cash flow per share adjusted to exclude any non-recurring items per BMO Capital Markets research (see below)
Source: BMO Capital Markets, “Materials – Precious Metals & Minerals” (11th January 2010)
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I d t C bl
859 825900 0
Industry Comparables EV/Reserves1
859 825 779
624 613
384 346 330259
450.0
600.0
750.0
900.0
US
$/oz
259 217
0.0
150.0
300.0
emaf
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1.81x1.57x
1 6
2.0P/NAV2
1.25x1.10x 1.01x 0.96x 0.94x 0.86x
0.65x 0.57x
0.4
0.8
1.2
1.6
0.0
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O
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1. Based on proven and probable reserves. EV: fully diluted in the money market capitalisation – fully diluted in the money working capital + long term debt. Market data as at 8 January 2010. As per BMO Capital Markets Research (see below)
2. Price / Net asset value using a 10% discount rate, price as of 8 January 2010, as quoted by BMO Capital Markets research (see below)
Source: BMO Capital Markets, “Materials – Precious Metals & Minerals” (11th January 2010)
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M t’ FManagement’s Focus
“Unlocking Embedded Value”Unlocking Embedded Value
• Using exploration success to build a long term• Using exploration success to build a long term sustainable business
• Releasing the intrinsic value of Didipio• Releasing the intrinsic value of Didipio• Developing a strong balance sheet to pursue further
long term growthlong term growth• Moving towards 100% unhedged producer; with re-
rating upsiderating upside
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Unlocking Embedded Valueg
OceanaGold Corporation
[email protected] www.oceanagold.com
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M tManagement
Paul Bibby (CEO) – Mr. Bibby is a metallurgist with broad international operations and business development experience across many commodities, with recent leadership roles at Zinifex and as London based Chief Development Officer with Nyrstar, which was created through the IPO of Zinifex’s smelting operations. Prior to this, he had some 23 years at Rio Tinto in a broad range of operating and business development roles.
Marcus Engelbrecht (CFO) – Mr. Engelbrecht has 20 years experience in resources with BHP Billiton and affiliated companies operating in North America, Europe, Africa and Latin America. Before leaving BHPB, Marcus held the position of CFO, Diamonds and Specialty Products, based in Melbourne.
Mark Cadzow (COO – New Zealand) – Mr Cadzow is a metallurgist with over 30 years experienceMark Cadzow (COO – New Zealand) – Mr. Cadzow is a metallurgist with over 30 years experience in mineral processing, precious metals, sulphide minerals and coal. Mark joined the predecessor company to OceanaGold in 1991 and has held various technical roles in New Zealand prior to being appointed COO - New Zealand in 2009.
Matthew Salthouse (General Counsel & Corporate Secretary) - Matthew Salthouse (General Counsel & Company Secretary) Mr Salthouse has extensive experience acting for andCounsel & Company Secretary) - Mr Salthouse has extensive experience acting for and advising large resource companies and investors on corporate finance, project and governance issues; with a particular emphasis on the Asia-Pacific region. Prior to joining OceanaGold, Matthew worked as a senior lawyer with Herbert Smith and Corrs Chambers Westgarth (amongst others).
D Kli k (VP C t & I t R l ti ) M Kli k h d i t l tiDarren Klinck (VP, Corporate & Investor Relations) – Mr. Klinck has managed investor relations, media and corporate affairs for precious metals companies based both in Canada and Australia. Prior to joining OceanaGold in 2007, Darren was VP, Corporate and Investor Relations at Vancouver-based Kimber Resources Inc., a gold and silver development and exploration company listed on the American and Toronto stock exchanges.
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B d f Di tBoard of DirectorsJim Askew (Non Executive Chairman) - Mining engineer with over 30 years broad
international e perience as a Director/Chief E ec ti e Officer for a ide range ofinternational experience as a Director/Chief Executive Officer for a wide range of Australian and international publicly listed companies. He currently sits on the board of Eldorado Gold, Ausdrill Ltd, Asian Mineral Resources Ltd and Golden Star Resources Ltd.
Terry Fern (Director) – Terry is Chairman and Managing Director of Petsec Energy Ltd. He has over 25 years of extensive international experience in petroleum and minerals exploration, development and financing.
Jake Klein (Director) - Jake Klein was most recently President and CEO of Sino Gold Limited, a company he helped found in 2000 until it merged with Eldorado Gold in 2009. Prior to founding Sino Gold, Jake worked in the banking and international finance arena i S th Af i d A t li f 16in South Africa and Australia for 16 years.
Joey Leviste (Director) - Joey is the current Chairman of OceanaGold's wholly-owned subsidiary company in the Philippines, OceanaGold (Philippines), Inc. Mr. Leviste is also y p y pp , ( pp ),a director of the Philippine Tobacco Flu-Curing Corporation and the Philippine Resident Representative of the Australia-Philippine Business Council.
Denham Shale (Director) – Mr. Shale is a lawyer in practice in Auckland, New Zealand. He
OceanaGold Corporation
( ) y p ,was previously Chairman of Kensington Swan, a leading New Zealand law firm, and has been a director of listed companies for 20 years.
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Mi l R d RMineral Resources and Reserves (Dec 31, 2009)
Total Resources
Grades Contained Metal
Measured and Indicated
MtAug/t
Cu%
AuM
CuMt
Grades
Inferred
MtAug/t
Cu%
AuM
CuMt
Resources – NZ 95.42 1.23 3.78
Mt g/t % Moz Mt
59.85 1.56 3.01
Mt g/t % Moz Mt
63.27 0.44 0.28 23.80 0.25 0.06Resources – PHP 1.01 2.05 0.43 0.33
Total Reserves
G d C t i d M t l
Proven and Probable
Reserves - NZ
Grades Contained Metal
45.25 1.33 1.94
MtAug/t
Cu%
AuMoz
CuMt
Reserves - PHP 34.82 1.48 0.56 1.65 0.19
• Resources stated inclusive of reserves
OceanaGold Corporation 25
• NI 43-101 Technical Reports published May 2007(Reefton), June 2008 (Didipio),
November 2009 (Macraes)
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H d b kHedgebook (as at January 1, 2010)
Gold Hedge Positions 2010 Total*
Fixed Forwards (oz) 99,840 99,840
Price (NZD) 773( )
Calls (Sold) (oz) 104,024 104,024
P i (NZD) 1062Price (NZD) 1062
* Represents 5.7% of total reserves (as at January 1, 2010)
OceanaGold Corporation 26
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