Çöpler Gold Mine

APRIL 2012
Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
1
Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
2
Lidya Mining
 Lidya established in 2006, based in Istanbul, fully owned
by Çalık Holding.
 Focused on metals and precious metals in and around
Turkey.
 People, assets and partnerships; 3 pillars of strategy
 An emerging mining company through Çöpler experience
and cashflow
 Committed to create a valuable portfolio of
gold, copper, molybdenum, and nickel.
3
Vision & Mission
 We
Mission
Vision
Values
are
committed
to
create
value
for
our
shareholders,
employees
and
social
partners
through
discovery, acquisition and development of high quality metal
assets and operation of profitable mines.
 We will be the most valuable and respected mining company in
Eurasia.
Sustainable and Socially Responsible Development
 Win-Win Relationship with Communities and Partners
 Integrity
 Overriding Commitment to Safety and Environment
 Fostering Team-Spirit in the Pursuit of Excellence
4
Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
5
Çöpler Gold Mine
6
Çöpler Gold Mine
 Çalık&Alacer Gold (TSX:ASR) joined forces in August 2009 in the first major
international partnership in Turkish mining industry
 First operation is a gold project in eastern Turkey, Erzincan
 Çöpler is the second biggest gold mines in Turkey with 7.3Mozs resources
(inclusive of reserves)
Çöpler sits on a comfortable margin with a cash cost of US$350
Open Pit
Leach Pad
7
Çöpler Gold Mine
Çöpler New Gold-Copper District
YAKUPLU
BAHÇE
SABIRLI
BAYRAMDERE
AKSEKİ
DEMİRMAĞARA
Au-Cu prospect in-line
with major Çöpler
structure
Çöpler
+7.3Moz Au
deposit, closed only
to immediate east
Multiple Cu-Au
prospects along 6km
contact zone
FIDIKLIDERE
Karakartal
Target large Au-Cu
porphyry.
3 rigs 2H11 following up
235m at 1.0g/t Au,
0.43% Cu
8
Past, Present, Future…
Çalık & ASR
strategic
partnership
1930
5/2006
Çalık
Mining
established
8/2009
Sulfide
feasibility
starts
1994
12/2010
First gold at Çöpler
6/2011
Sulfide
feasibility
completed
First drilling
in 50/50 JVs
9/2011
New JVs into
16 projects
10/2011
1/2012
Shares in
Anagold raised
to 20%
2007
12/2012
Çöpler
produces
400K ozs Au
2008
1/2013
1/2015
Sulfide
construction
starts
9
9
Çöpler Gold Mine
Investment
Employment
• 250 M$
• 700 employees
(255 from İliç and around)
Reserves
• 4,6 Mozs (≈130t)
Cash Cost
• 350 $/oz
2011 Production
2011 Turnover
2012 Production
(Estimated)
• 185.417 ozs (≈5,3t)
• 288 M$
• 200.000 ozs (≈5,7t)
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Çöpler Gold Mine
Exploration Investment
30 M$
Completed Total Drilling in meters
182.236m
Completed Total Drilling in Holes
1.238 holes
Total Capital Investment (1,3Mozs oxide ore)
220 M$
Drilling Works
2011 Completed
2012(H1) Planned
51.060m
48.000m
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Çöpler Gold Mine
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Çöpler Gold Mine
13
Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
14
Çöpler Sulfide Project
Probable Reserves
2.2 Moz
4.6 Moz
LOM Production
1.3 Moz
3.7 Moz
Mine Life
9 years
16 years
Facility construction starts; 2013
Facility construction period; 28 months
Full capacity production; 2015
Additional production per year; 220.000 oz
15
Çöpler Sulfide Project
410 milyon $
• CAPEX
739 milyon $
• Net Cash Flow *
430 $/ons
% 24,6
• Cash Cost
• IRR
•Accepted Au price 1.035 $/oz
•Based on prefeasibility report
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Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
17
New JVs
18
New JVs
Çöpler
PRODUCTION
Oxide
Çöpler Sulfide
FEASIBILITY
Cevizlidere, Karakartal
Fındıklıdere, Bayramdere
Polimetal:
Fol-Ken, Kabadüz, Yelekkaya
Bursa-West, Balışeyh, Akoluk
Dursunbey, İvrindi, Torul, Artvin
ADVANCED
EXPLORATION
INITIAL
EXPLORATION
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New JVs
KARAKARTAL EXPLORATION
Properties
Location:
15km southeast of Çöpler
Primary Target: Porphyry Cu-Au
Ownership:
50% Lidya Mining
Drilling Works
Previous terms:
9.541 m
2011 Completed
4.301 m
2012 Planned:
26.500 m
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Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
21
Gold Market
* Estimated
Source: Assosiation of Gold Miners
22
Gold Producers of Turkey
2011 Production
Anagold
25%
Tüprag
38%
2012 Estimate*
Anagold
21%
Koza
37%
Koza
37%
2011
Tüprag
42%
2012
*Estimate
23
Gold Market
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