GOLD FIELDS LIMITED A DEEP VALUE OPPORTUNITY
FNB Showcase – October 2010 Nikki Catrakilis-Wagner Investor Relations
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GOLD FIELDS LIMITED A DEEP VALUE OPPORTUNITY FNB Showcase October - - PowerPoint PPT Presentation
GOLD FIELDS LIMITED A DEEP VALUE OPPORTUNITY FNB Showcase October 2010 Nikki Catrakilis-Wagner Investor Relations 1 Forward Looking Statements Certain statements in this document constitute forward looking statements within the
FNB Showcase – October 2010 Nikki Catrakilis-Wagner Investor Relations
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Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934 Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and
achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions exploration and development activities; decreases in the market price of gold acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; inflation and other i f t i d t i l ti t t f i f f t d macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document. The company undertakes no obligation to update publicly or release any revisions to these The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
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FNB Showcase October 2010
F f F2011
Sustainable gold mining
FNB Showcase October 2010
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Group Strategy
p gy
Focused on Free Focused on Free Cash Flow
Sweating our assets Growing Gold Fields Securing our future Unhedged
To be the Global Leader in Sustainable Gold Mining
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FNB Showcase October 2010
F2010 Scorecard
Attributable production up 2% to 3 5m oz
Sweating our assets
Sweating our assets
Up 2% from 13% to 15%
*Managed
Improving the margin per oz
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FNB Showcase October 2010
F2010 Scorecard
Greenfields Greenfields
Growing Gold Fields
Brownfields Growing Gold Fields
Towards 5moz in production or development by 2015
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FNB Showcase October 2010
F2010 Scorecard
Securing Our Future
Securing Our Future
To be the Global Leader in Sustainable Gold Mining
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FNB Showcase October 2010
F2010
NCE margin
1000 1200 800 1000 $/oz 400 600 200 400 Q1F2010 Q2F2010 Q3F2010 Q4F2010 Gold Price NCE Cash Cost
Focused on free cash flow
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FNB Showcase October 2010
South Deep Project p j
600 800
z)
200 400 600
roduction (oz
200
F2009 F2010 F2011 F2012 F2013 F2014 Pr
1.5 2 2.5
l (Rbn)
0.5 1 1.5
Capital F2009 F2010 F2011 F2012 F2013 F2014
Plan Actual
Achieving momentum at South Deep
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FNB Showcase October 2010
South Deep Project
p j Capital Programme F2010 to F2014
Item Year Q4 F2010 Item F2010 F2011 F2012 F2013 F2014 Status
Refrigeration Plant
Twin Vent Shaft
Tailings Storage Facility Plant Expansion
Plant Expansion New Mine Development
Total Capital Actual
R1.6bn
Base Plan
R1.8bn R1.9bn R2.1bn R1.5bn R1.2bn
Note: Capital estimates in July 2009 money
South Deep Project capital efficient and on track
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FNB Showcase October 2010
F2011 focus
Safe production
Safe profitable ounces
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FNB Showcase October 2010
Growth Strategy gy
South Africa Region Australasia Region West Africa Region South America Region
2 moz 1 moz 1 moz 1 moz
Value adding growth
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FNB Showcase October 2010
Gold Fields international exploration
p
Increased exploration commitment yielding results
FNB Showcase October 2010
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Supporting regional growth and developing new frontiers
pp g g g p g
6.2Mozeq resource announced by Orsu Metal Corp Metal Corp. Consolidated the Yanfolila Camp 5.6Mozeq discovery discovery 1.0Moz inferred resource announced
Supporting regional growth target of 1Mozpa
FNB Showcase October 2010
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Chucapaca Joint Venture - Peru
p J i t V t
Chucapaca
Joint Venture 51% Gold Fields 49% Buenaventura 163
196
Canteras del Hallazgo – 12,700Ha
MINING CONCESSIONS
Gold Fields - 94,100Ha Buenaventura – 18,400Ha Aruntani
SYMBOLOGY
Dirt Road Back Road Main Road !
S O OG
Growing Gold Fields in South America
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FNB Showcase October 2010
Chucapaca Joint Venture - Peru
2008 p
Canahuire
2008
Canahuire
Cerro Chucapaca
targets
112
Katrina
20
20
GF
Katrina South
y
BVN
Canahuire inferred resource 5.6Mozeq
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FNB Showcase October 2010
Cerro Corona Mine - Peru
Oxide stockpile treatment
Construction early 2011 Resource conversion project
Expansion and life extension opportunities
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FNB Showcase October 2010
St Ives Gold Mine - Argo-Athena Camp g p
Argo 1 moz Produced Athena 771 koz Resource Hamlet 1 moz Resource C t ti Q1 2011 889 koz Resource Under Construction Construction Q1 2011
Yorrick Yorrick Yorrick Yorrick
Defined Endowment +3.5 moz – With Significant Potential
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FNB Showcase October 2010
Far South East Project - Philippines
j pp
g
FNB Showcase October 2010
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World class potential
Far South East Project - Philippines
j pp
Southwest Northeast
18 month option
750 m
studies
AuEq g/t
Final payment of $220m prior to expiry
900 m 691m @ 2.5 g/t Au and 0.9% Cu 907m @ 1.5 g/t Au and 0.5% Cu 953 @ 1 3 /t A d 0 6% C
FNB Showcase October 2010
20 900 m 953m @ 1.3 g/t Au and 0.6% Cu
Yanfolila Project in Mali
j 163
196
112 163
112 163 20
YANFOLILA PROJECT Sadiola Essakane
20
20
Loulo Morila Syama Siguiri Sadiola Syama
An emerging camp in elephant country
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FNB Showcase October 2010
Yanfolila Project - Mali j
KW
Komana West Komana East
Gonka
Targeting 2moz Resource in 30km radius of Komana in 3yrs
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FNB Showcase October 2010
Yanfolila Project - Mali
11m@2.6g/t from 34m
j
18m@4.5g/t from 33m 2m@5 7g/t from 34m
2m@5.7g/t from 34m 22m@4.8g/t from 7m
depth
21m@20.8g/t from 53m 51m@4.1 g/t from 0m 53m@6.5 g/t from 8m 35m@2.1 g/t from 32m
Komana East
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FNB Showcase October 2010
Balance Sheet
10 0
Debt maturity as at June 2010
8.0 10.0 6.0 Rbn 2.0 4.0
F2011 F2012 F2013 F2014+ F2011 F2012 F2013 F2014+
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FNB Showcase October 2010
One of the best Balance Sheets in the industry
US$ Bond Issue – Salient Features
$ Amount $1bn Notes Senior unsecured Maturity October 2020 C 4 875% Coupon 4.875% Interest Payment Dates Semi-annual Interest Payment Dates Semi annual Ratings Moody’s - Baa3 (Stable) Ratings S&P – BBB- (Stable)
Strengthens liquidity
FNB Showcase October 2010
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Balance Sheet
Pro-forma Debt maturity as at June 2010
12.0 14.0 8.0 10.0 Rbn 4.0 6.0
F2011 F2012 F2013 F2014+ F2011 F2012 F2013 F2014+
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FNB Showcase October 2010
Significantly improved
Investment case
Sustainable gold mining
FNB Showcase October 2010
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Good value
16X
2009 Trailing EV/EBITDA
16X 10.6X 6.2X
AngloGold Ashanti Barrick Gold Gold Fields
Source: BMO Nesbitt Burns
A deep value opportunity
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FNB Showcase October 2010
Investor Relations Nikki Catrakilis-Wagner Investor Relations ( ffi ) 27 11 562 9706 (office) +27 11 562 9706 (mobile) +27 83 309 6720 nikki.catrakilis-wagner@goldfields.co.za
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