MID-TIER PRODUCER INVESTOR PRESENTATION FEBRUARY 2020 PAGE | 1 PAGE | 1
DISCLAIMER IMPORTANT NOTICES Nature o of t this d is document: : The purpose of this presentation is to provide general information about Gold Road Resources Limited (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available at www.goldroad.com.au or www.asx.com. Not an offe No fer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. No Not fina nanc ncial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products. Forw rward-lo lookin ing sta tate tements ts: Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Relevant factors which may affect the Company’s actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel. Disc isclaim imer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Un Unverified infor ormati tion on: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company. PAGE | 2
CORPORATE PROFILE CAPITAL STRUCTURE 879M 1 BOARD OF DIRECTORS ISSUED SHARES Tim Netscher Non-Executive Chairman 6M 1 PERFORMANCE RIGHTS Duncan Gibbs Managing Director & CEO A$1,410M 2 $US987M 5 MARKET CAP Justin Osborne Executive Director – Exploration & Growth A$101M 1 US$70M 5 CASH & EQUIVALENTS Sharon Warburton Non-Executive Director Brian Levet Non-Executive Director DEBT DRAWN (OF 150M FACILITY) A$80M 1 US$56M 5 Carol Marinkovich Joint Company Secretary 112 koz @ A$1,844/oz 1 US$1,290 5 HEDGING Hayden Bartrop Joint Company Secretary 1.9 Moz 4 ORE RESERVES SHAREHOLDERS 3.6 Moz 4 MINERAL RESOURCE North America 3% Retail 12% ANALYST RESEARCH SUBSTANTIAL SHAREHOLDERS 35% Broker/Advisors Argonaut BlackRock 9% UK & European Instos Bell Potter Van Eck 8% Australian Instos Canaccord 15% INDICES Macquarie Corporate ASX200 3 , GDXJ 3 RBC Board & Management MSCI 3% 1% Rest of World 1% 1 As at 31 December 2019 2 As at 10 February 2020, based on last close price of A$1.605 per share 30% 3 GOR joined the ASX200 Index & GDXJ on 23 September 2019 PAGE | 3 4 GOR Attributable 5 FX: 1AUD = US$0.70
UNLOCKING VALUE FOR SHAREHOLDERS Australia’s Newest Gold Producer • Long life, low cost production at Tier 1 gold mine 1 11 year mine life averaging ~300 kozpa* 2 3.7 Moz Reserve, 6.6 Moz Resource* 2 • First gold poured June 2019 • Commercial Production attained September 2019 3 • Ramping up to full production in early 2020 • 50:50 JV partner Gold Fields a proven global miner Successful Explorer in Undercover and Underexplored Belts • Extensive (~4,500 km 2 ) and prospective Yamarna exploration tenements (Gold Road 100%) • Cygnus JVs earning up to 75% in underexplored greenstone belt * 100% basis 1 Refer to ASX announcement dated 6 December 2019. Tier 1: Greater than 10 year mine life; greater than 300,000 ounces per annum; greater than 3.5 million ounce Ore Reserve and costs at the lower end of the cost curve 2 Refer to ASX announcement dated 12 February 2020 – Gruyere JV only – excludes 0.3Moz of 100% Gold Road Resources. PAGE | 4 3 Refer to ASX announcement dated 9 October 2019.
OUR STRATEGY Deliver r worl rld class opera rating ng p perf rform rmanc nce Gro row marg rgins ns a and nd mine ne l life GRUYERE Discover g r gold re resourc urces t tha hat tra rans nsform rm t the he company ny Valu lue a accretive tive tr transformatio tional M& M&A Build ild a and main inta tain in a a p proje ject t DISCOVERY CORPORATE pipe pi peline f for gr growt wth Gr Grow & & Dive iversif ify productio tion b base DEVELOPMENT Qu Quality, l , low risk sk asse ssets DELIVER SHAREHOLDER VALUE ESG ORANISATIONAL CAPABILITY Operat ate safe afely an and c car are fo for o our Capi pital manage gement, pe peopl ple a and d bu business peo eople, e, s stakeh eholder ers & & en environmen ent syste tems to to s support t th the s str trate tegy Positio ition Go Gold ld R Road a as an E ESG m G market t lea eader er PAGE | 5 PAGE | 5
ENVIRONMENT, SOCIAL, GOVERNANCE POSITION GOLD ROAD AS AN ESG LEADER OPERATING CARING FOR THE SUPPORTING OUR RESPONSIBLE SAFELY ENVIRONMENT COMMUNITY GOVERNANCE > 3 million manhours LTI free Obtaining Cyanide Management Gruyere employment: Established corporate culture that Gruyere construction Code and ISO certifications values integrity and ethical 350 site personnel behaviour Gruyere Total Recordable Injury Tailings Dam, low risk life of mine 8.1% indigenous, 17% female AIRA Award 2 recognising Frequency Rate 3.5 design (Integrated Waste Landform) proactive and transparent Strong relationship with the Yilka Gruyere obtaining ISO45001 stakeholder engagement people certification Gruyere utilises saline water resources Aligned to ASX Corporate Gold Road 30% female employees “Vital Behaviours” Program Governance principles Low carbon emissions from gas Gold Road Taxes & Royalties power External & Internal audit Mental Health First Aid trained contributes >A$50M pa 1 Solar Power installation at Yamarna camp, evaluating opportunities at Gruyere 1 Estimate based on A$2,300/oz gold price. Taken as average over LOM 2 Best Investor Relations: Mid Cap ASX 200 2019 Gold Road Gruyere JV PAGE | 6
$2,000 $1,000 $1,500 $1,250 $1,750 $500 $250 $750 LOW COST PRODUCTION $0 AISC calculated as at 5 February 2020 Source: RBC Capital Research estimates Gold Road Alacer Evolution Dundee A$1, GOR 2 GO B2Gold 1,10 100-A$1,200/ 202 020 Saracen 0 Gu Guida Polymetal dance 0/oz Kirkland Lake oz Pretium Regis Ramelius Newcrest Centerra Agnico Eagle RBC R Endeavour Research 2 AngloGold Eldorado Silver Lake 2020E AISC (A$/oz) Torex Northern Star Centamin Teranga Gold Fields St Barbara Barrick OceanaGold Dacian Roxgold Newmont Resolute Kinross New Gold Yamana Alamos TMAC SSR IAMGOLD Premier PAGE | 7 Guyana Sibanye
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