Çöpler Gold Mine

August 2012
Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
2
Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
3
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.
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Mission & Vision & Values
 We are committed to create value for our shareholders,
Mission
Vision
Values
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
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Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
6
Çöpler Gold Mine
Çöpler
Gold Mine
7
Çöpler Gold Mine
 Çalık&Alacer Gold (TSX:ASR) joined forces in August 2009 is 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
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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
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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
9/2011
New JVs into
16 projects
10/2011
Çöpler
produces
400K ozs Au
Sulfide
feasibility
completed
First drilling
in 50/50 JVs
1/2012
Shares in
Anagold raised
to 20%
2007
12/2012
2008
1/2013
1/2015
Sulfide
construction
starts
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Çöpler Gold Mine
Investment
Employment
Reserve
Cash Cost
• $250M
• 700 employees
(255 from Ilic and around)
• 4.6 Mozs (≈130t)
• 350 $/oz
2011 Production • 185.417 ozs (≈5,3t)
2011 Turnover
• $288M
2012 Production
• 200.000 ozs (≈5,7t)
(estimated)
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Çöpler Gold Mine
Exploration Investment
$30M
Completed Total Drilling in meters
188.083m
Completed Total Drilling in Holes
1.250 holes
Total Capital Investment (1,3Mozs oxide ore)
$220M
2012 Drilling Works
Budget
Planned
Completed (YTD)
$10M
48.000m
33.112m
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Çöpler Gold Mine
Production by Years
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Çöpler Gold Mine
Open Pit
Crusher Plant
Manganese Zone
ADR Plant
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Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
15
Çöpler Sulfide Project
Probable
Reserves
2.2Mozs
4.6Mozs
LOM
Production
1.3Mozs
3.7Mozs
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
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Çöpler Sulfide Project
$410M
• CAPEX
$739M
• Net Cash Flow *
430 $/oz
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
18
New JVs
19
New JVs
Çöpler
PRODUCTION
Oxide
Çöpler Sulfide
FEASIBILITY
Cevizlidere, Karakartal
Fındıklıdere, Bayramdere
Polimetal:
Akoluk, Balışeyh, Dursunbey, Eğrikar,
Güvemli, Fol-Ken, Ken-Fol, Kabadüz,
Kurttepe, İvrindi, Yelekkaya,
Taşlıkyayla, Sarıçayıryayla, Şiran
ADVANCED
EXPLORATION
INITIAL
EXPLORATION
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New JVs
KARAKARTAL EXPLORATION
Properties
Location:
12km 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 Completed (YTD)
5.848 m
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Agenda
Lidya Mining
Çöpler Gold Mine
Çöpler Sulfide Project
New JVs
Gold Market
22
Gold Market
* Estimated
Source: Assosiation of Gold Miners
23
Top Gold Producers of Turkey
2011 Production
Anagold
25%
Tüprag
38%
2012 Estimate
Anagold
21%
Koza
37%
Koza
37%
2011
Tüprag
42%
2012
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Gold Market
25
Thank You