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Montreal Marketing – February 3, 2015
TSX; NYSE: AUQ
www.auricogold.com
Built for SUCCESS
All amounts are in US dollars unless otherwise indicated
Forward Looking Statements
Cautionary Statement
This presentation contains certain information that constitutes “forward-looking information” and “forward-looking statements” as defined under Canadian and U.S. securities
laws. All statements in this press release, other than statements of historical fact, are forward-looking statements. The words “expect”, “believe”, “anticipate”, “contemplate”,
“may”, “could”, “will”, “intend”, “estimate”, “forecast”, “target”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward-looking statements
in this presentation include, without limitation, statements with respect to our expectations on underground productivity levels, underground unit mining cost, underground
development, mill facility processing rate, cash flow, free cash flow, cash costs, capital investment and timing to completion on the final leg of the Northgate production shaft,
information as to our strategy, plans and future financial and operating performance, such as our expansion plans, project timelines, production plans, projected cash flows or
capital expenditure levels, cost estimates, mining or milling methods, projected exploration results, resource and reserve estimates, other statements that express our
expectations or estimates of future performance, the success of exploration activities, the Company’s ability to delineate additional resources and reserves as a result of such
programs, statements regarding the advancement of the Lynn Lake district, the completion of a feasibility study on the Lynn Lake Project within the indicated timeframe, mineral
reserves and mineral resources and anticipated grades, exploration expenditures, costs and timing of any future development, costs and timing of future exploration and the
Company’s intentions regarding its investment in Carlisle, the presence of and continuity of metals at Kemess East at modeled grades.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management at the time of making such
statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to
differ materially from those projected in the forward-looking statements. Such factors and assumptions underlying the forward-looking statements in this press release include,
but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold; changes in foreign exchange rates (particularly the
Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; any decision to declare a quarterly dividend; employee relations; litigation;
disruptions affecting operations; availability of and increased costs associated with mining inputs and labor; development delays at the Young-Davidson mine; operating or
technical difficulties in connection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson and El
Chanate mines may not perform as planned; uncertainty with the Company’s ability to secure capital to execute its business plans; the speculative nature of mineral exploration
and development, including the risks of obtaining necessary licenses, permits, authorizations and/or approvals from the appropriate regulatory authorities for the Kemess
Underground project; contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the Company
does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assets and
liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued by the Company, as well as those
factors discussed under “Risk Factors” in the Company’s most recent Annual Information Form.
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this presentation.
Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the assumptions set forth in our most recent Form 40-
F/Annual Information Form. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian
provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
There can be no assurance that forward-looking statements or information will prove to be accurate, accordingly, investors should not place undue reliance on the forward-
looking statements or information contained herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of
new information, future events or otherwise, except as required by applicable law.
Cautionary Note to U.S. Investors Concerning Measured, Indicated and Inferred Resources
This presentation uses the terms "measured", "indicated" and "inferred” resources. We advise investors that while those terms are recognized and required by Canadian
regulations, the United States Securities and Exchange 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 any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part
of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an
inferred mineral resource exists, or is economically or legally mineable.
2
Built for Success
Low cost, long life assets
Significant production growth
Growing free cash flow profile
Strong resource project pipeline
Strong liquidity profile
Significant Canadian tax loss pools
Favourable Canadian dollar exposure
Quarterly dividend distributions
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
FY 12 FY 13 FY 14 FY 15E FY 16E FY 17E
GoldOunces(5)
AuRico Gold: Built For Success
Significant Production Growth*
Growing Free Cash Flow*
(0.50)
(0.40)
(0.30)
(0.20)
(0.10)
0.00
0.10
0.20
0.30
0.40
FY 14E FY 15E FY 16E FY 17E FY 18E
FreeCashFlowperShare
* Source: FactSet consensus data.(5) Refer to endnote #5
3
AuRico Gold Overview
(as of Sept. 30, 2014)
Cash
$100MUndrawn
debt facility
$150M
Capital Structure
Issued and Outstanding Shares 249.6M
Options 14.2M
Share Units 1.5M
Fully Diluted 265.4M
(as of December 31, 2014)
Broker Analyst
1 Credit Suisse Anita Soni
2 RBC Capital Markets Dan Rollins
3 Morgan Stanley Brad Humphrey
4 National Bank Financial Adam Melnyk
5 BMO Capital Markets Brian Quast
6 CIBC World Markets Cosmos Chiu
7 Pareto Securities John McClintock
8 Desjardins Securities Mike Parkin
9 Raymond James Phil Russo
10 TD Securities Steve Green
11 Mackie Research Barry Allan
12 GMP Securities Ian Parkinson
13 Dundee Capital Markets Joe Fazzini
14 Canaccord Genuity Rahul Paul
15 Macquarie Research Mike Siperco
16 Scotiabank GBM Trevor Turnbull
$250M in Liquidity
Analyst Coverage
Corporate Information (AUQ:TSX,NYSE)
2015 2016 2017 2018 2019 2020
No Significant Debt Maturities until 2020
$315M
High Yield
Bond
C$20M Payment and Restructured Royalty Agreement (Jan. 2015)
4
Balanced North American Portfolio
YOUNG-DAVIDSON
Location: Ontario, Canada
Underground Mine
EL CHANATE
Location: Sonora State, Mexico
Open Pit Mine
KEMESS UNDERGROUND
Location: B.C., Canada
Advanced Development Project
LYNN LAKE GOLD CAMP
Location: Manitoba, Canada
Open Pit Development Project
Advanced high-grade open pit gold mine
development project
One of Canada’s largest
underground gold mines
Consistent, low cost
open pit mine
Advanced Copper Gold porphyry
development project 5
Young-Davidson Production Growth (5)
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 2014
Gold ounces produced (5)
28,281 29,252 30,099 33,106 35,104 40,166 40,538 40,945 156,753
Underground cash costs per oz. - - - $663 $808 $803 $656 $656 $719
Open pit cash costs per oz. $694 $716 $666 $983 $1,350 $974 $923 $994 $1,071
Total cash costs per oz. (1)(2)
$694 $716 $666 $850 $1,009 $871 $723 $719 $825
Underground mine
Tonnes mined per day 1,130 1,611 1,417 2,590 2,611 3,595 3,752 4,140 3,530
Grades (g/t) 2.7 2.5 2.8 3.1 2.8 3.3 3.1 3.0 3.1
Development metres 1,941 2,445 2,620 2,986 3,772 3,545 3,269 3,438 14,024
Mill processing facility
Tonnes processed per day 6,466 7,017 6,747 6,969 7,163 8,230 7,670 7,757 7,707
Grades (incl. open pit stockpile) 1.8 1.7 1.7 2.0 1.8 2.2 1.9 2.0 2.0
Recoveries (%) 86% 85% 89% 88% 87% 88% 90% 88% 88%
Young-Davidson Quarterly Operational Results
(1) Refer to endnote #1 (2) Refer to endnote #2 (5) Refer to endnote #5
11,950
17,825
26,363 28,281 29,252 30,099
33,106
35,104
40,166 40,538 40,945
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14
GoldOuncesProduced(5)
StrongOperations:Growing Production
6
3,000
4,140
6,000
8,000 8,000
2013 2014 2015E 2016E 2017E
OreTonnesperDay
YE target of
2,000tpd
170
U/G miners
207
U/G miners
240
U/G miners
240
U/G miners
Young-Davidson:Strategic Canadian Asset
2013 2014
Gold Production (koz) (5) 120.7 156.8
Underground Cash Costs ($/oz) (1)(2) $663 $719
Open Pit Cash Costs ($/oz) (1)(2) $757 $1,071
Cash Costs ($/oz) (1)(2) $744 $825
Capital Investment ($M)(3) $191 Up to $135
Projected Asset Life (years) +20
Underground Reserves (Moz) (4) 3.6
Au Grade (g/t) 2.81
Underground M&I (Moz) (4) 1.5
Au Grade (g/t) 2.27
Consecutive Quarterly Production Growth Profile(5)
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14
GoldOuncesProduced
Significant Gold Production Growth*(5)Production Ramp-Up (Year-End Exit Rates)
-
50,000
100,000
150,000
200,000
250,000
2012 2013 2014 2015E 2016E 2017E
GoldOunces
(1) Refer to endnote #1 (2) Refer to endnote #2 (3) Refer to endnote #3 (4) Refer to endnote #4
(5) Refer to endnote #5
* Source: FactSet consensus data.
YE target of
4,000tpd
7
9890L
9590L
9400L
9200L
8900L
Young-Davidson:Underground Mining
2014 “Proof of Construct” Scorecard
140kozs to 160kozs 157kozs
UG productivity @ 4,140tpd Q4-2014
UG unit costs @ $39/tonne Q4-2014
UG cash costs @ $650/oz Q3-2014
Positive net free cash flow Q4-2014
2015 Business Plan
Gold production growth of 10-15%
UG productivity increase to 6,000tpd
UG cash costs under $650/oz
Capital expenditure decrease of approx. 30%
Growing positive net free cash flows
8
Young-Davidson: Processing Facility
18%
17%
23%
21%
37%
36%
44%
45%
53%
75%
88%
100%
100%
100%
82%
83%
77%
79%
63%
64%
56%
55%
47%
25%
13%
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 2015E 2016E 2017E
Underground Open Pit incl. Stockpile Mill Grade
4,340
5,866 5,964
6,466
7,017
6,747 6,969 7,163
8,230
7,670 7,757
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14
TonnesperDay
Mill Processing Expansion
Growing Underground Ore Feed
Commissioned capacity of 6,000 tpd
Mill capacity expanded to 8,000 tpd
Processing cash flow accretive stockpiles
Gold recovery target increased to 90%
Surface stockpiles of 2.5mt @ 0.75 g/t*
* As of Dec. 31/14 9
Location Map
Young-Davidson: Strategic Canadian Asset
Q4 Cash Flow Estimate ($M's)
Opex
$22
Total Capex
$20
Cash Flow
$9
Revenue
$51
Transitioned to Positive Net Free Cash Flow in Q4-2014
Gold Producers in Canada
Red Lake
(incl. Cochenour)
498
Porcupine
293
Eleonore
350
Musselwhite
274
Meadowbank
377
LaRonde
247
Goldex
99
Lapa
76
Canadian
Malartic (50%)
299
Detour Lake
540 Canadian
Malartic (50%)
299
Hemlo
205
Young-
Davidson
170
Goldcorp Inc. Agnico Eagle
Mines Ltd.
Detour Gold
Corp.
Yamana Gold
Inc.
Barrick Gold
Corp.
AuRico Gold
Inc.
Source: Scotiabank
(2015E Gold Production (koz))
Ontario
Quebec
Timmins
Kirkland
Lake
Matheson
Duparquet
Rouyn-
Noranda
Young-Davidson
Porcupine Destor
Gold Belt
Kirkland Larder
Lake Gold Belt
10
Young-Davidson: Strategic Canadian Asset
USD/CAD $0.95
USD/CAD $0.90
USD/CAD $0.85
400
500
600
700
800
900
1,000
1,100
1,200
0
50
100
150
200
250
2014E 2015E 2016E 2017E 2018E 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
BreakEvenCostperOunce
GoldOunces(000’s)
Gold Ounces USD/CAD $0.95 USD/CAD $0.90 USD/CAD $0.85
One of the Largest Underground Gold Mines in Canada
Long Life, Low Cost, Significant Free Cash Flow
Note: Gold ounces produced and break-even costs per ounce are estimates only and should not be considered as Company guidance. 11
El Chanate: Consistent Gold Production
2013 2014
Au Production (koz) (5) 71.9 67.3
Cash Costs ($/oz) (1)(2) $592 $669
Capital Investment ($M)(3) $39 $20 - $25
Projected Asset Life (years) 7
Reserves (Moz) (4) 1.00
Au Grade (g/t) 0.70
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
2011 2012 2013 2014
GoldProductionOunces
Consistent Gold Production(5)
(1) Refer to endnote #1 (2) Refer to endnote #2 (3) Refer to endnote #3 (4) Refer to endnote #4 (5) Refer to endnote #5
Consistent production of up to 70kozs
Industry competitive operating costs
2015 capital decrease of up to 25%
Key exploration focus
12
Mine Type Underground Block Cave
Avg. LOM Annual Prod. 105 koz Au / 44 Mlbs Cu
Avg. LOM Cash Costs (US$/oz) (1)
$213
Avg. LOM AISC (US$/oz) (1)
$352
Projected Mine Life (years) 12
Au.Eq. Reserves (Moz) (4)
3.3
Au grade (g/t) 0.56
Cu Grade (%) 0.28
Au.Eq. Grade (g/t) 1.01
Au.Eq. Resources (Moz) (4)
5.2
Au.Eq. Grade (g/t) 0.92
NPV (5%) >$225M
2013 Kemess Underground Feasibility Highlights(4)
$1B of Surface Infrastructure - 50ktpd Mill, Grid Power, Tailings Storage Facility, Camp Facilities
Kemess: High Valuation Upside Opportunity
(1) Refer to endnote #1 (4) Refer to endnote #4
Fully operational surface infrastructure
Positive Feasibility Study completed
Permitting: Phase 2 of 3 phase process
Significant new exploration discovery
Expanded $5-$10M exploration program
13
Kemess East: Significant New Discovery(4)
KEMESS EAST
Section A
Looking North
Expanded 2015 Exploration Program ($5 to $10M)
Initial Kemess East Resource of 5.5 Million Gold Equivalent Ounces(4)
Reserves and Resources of 10.6 Million Gold Equivalent Ounces at Kemess Property
(4) Refer to endnote #4 14
Lynn Lake – High Grade Open Pit Project
Project Overview(7)
Mine Type Open Pit
Au Grade (g/t) 2.2
Au M&I (Moz) 1.50
Avg. LOM Annual Mill Prod. (koz) 145
Avg. LOM Cash Costs (C$oz) $530
Initial Capex (C$M) $185
Projected Mine Life (years) 12
NPV(5%) (C$M) $257
Optimized PEA
Assumptions (US$)
$1,100 Au / $18 Ag
Source: Carlisle Goldfields Company Reports
Strategic Low-Risk Opportunity in Early-Stage, Highly Prospective Lynn Lake Mining District
Significant new value creating opportunity following inexpensive C$10M upfront investment
AuRico is the operator and has controlling representation on management committee
60% ownership interest by funding up to C$20M over 3 years and delivering a feasibility study
(7) Refer to endnote #7 15
Lynn Lake – High Grade Open Pit Project(7)
One of the highest grade open pit deposits in Canada with significant exploration potential
Existing infrastructure in place, low power rates of C$0.027/kwh
Commenced Feasibility Study with Young-Davidson project team as lead
Significant 2015 resource delineation & extension drilling program ($6M to $8M)
Source: Company Reports
16
2017
Young-Davidson Gold Mine
Operation at Full Capacity
Significant Free Cash Flow Profile
El Chanate Gold Mine
Consistent Production
Exploration Drilling Program
Kemess Development Project
Construction Decision
Kemess East Feasibility Advancement
Lynn Lake Development Project
Exploration Drilling Program Updates
Feasibility Published
Expected Receipt of Permits
Construction Decision
2016
Young-Davidson Gold Mine
Production Ramp up to 8,000tpd
Growing Free Cash Flow
El Chanate Gold Mine
Consistent Production
Exploration Drilling Program
Kemess Development Project
Expected Receipt of Permits
Kemess East Feasibility
Lynn Lake Development Project
Exploration Drilling Program Updates
Feasibility Advancement
Permitting Advancement
2015
Young-Davidson Gold Mine
Production Ramp up to 6,000tpd
Growing Free Cash Flow
El Chanate Gold Mine
Consistent Production
Exploration Drilling Program
Kemess Development Project
Initial Resource Estimate at Kemess East
Permitting Advancement
Expanded Exploration Drilling Program
Lynn Lake Development Project
Exploration Drilling Program Updates
Resource Extension & Delineation Program
Feasibility Program Advancement
AuRico: Value Creation Business Plan
Valuation Catalysts
17
Balanced Portfolio: Built for Success
150
170
190
210
230
250
270
290
310
330
350
FY 14 FY 15E FY 16E FY 17E FY 18E
OuncesProduced(000’s)
(0.50)
(0.40)
(0.30)
(0.20)
(0.10)
0.00
0.10
0.20
0.30
0.40
FY 14E FY 15E FY 16E FY 17E FY 18E
PerShare
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
FY 14E FY 15E FY 16E FY 17E FY 18E
PerShare
0.0
0.5
1.0
1.5
2.0
2.5
3.0
FY 14E FY 15E FY 16E
DividendYield(%)
Growing Operating Cash Flows*Growing Production Profile*(5)
Consensus Illustrative Dividend Yield* (6)Growing Free Cash Flows*
* Source: FactSet consensus data.(5) Refer to endnote #5 (6) Refer to endnote #6 18
Built for Success
Exclusive North American portfolio
Low cost, long life assets
Significant production growth
Growing free cash flow profile
Strong resource project pipeline
Strong liquidity profile
Significant Canadian tax loss pools
Favourable Canadian dollar exposure
Quarterly dividend distributions
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
FY 12 FY 13 FY 14 FY 15E FY 16E FY 17E
GoldOunces(5)
AuRico Gold: Built For Success
Significant Production Growth*
Growing Free Cash Flow*
(0.50)
(0.40)
(0.30)
(0.20)
(0.10)
0.00
0.10
0.20
0.30
0.40
FY 14E FY 15E FY 16E FY 17E FY 18E
FreeCashFlowperShare
* Source: FactSet consensus data.(5) Refer to endnote #5
19
Appendix
Endnotes
All amounts are in US dollars unless otherwise indicated
1. Cash Costs per Gold Ounce and All-In Sustaining Costs (“AISC”) Per Gold Ounce are Non-GAAP measures that do not have any standardized
meaning prescribed by International Financial Reporting Standards (“IFRS” or “GAAP”), and that should not be considered in isolation from or as a
substitute for performance measures prepared in accordance with GAAP. See the Non-GAAP Measures section on page 23 of the Management's
Discussion and Analysis for the year ended December 31, 2013 available on the Company website at www.auricogold.com. 2014 fourth quarter and
annual cash costs are prior to inventory net realizable adjustments and reversals, and are estimates only and subject to change.
2. Cash costs for the Young-Davidson and El Chanate mines are calculated on a per gold ounce basis, net of by-product revenues and net realizable
value adjustments and reversals. Prior to 2014, gold ounces include ounces sold at the El Chanate mine and ounces produced at the Young-
Davidson mine. Commencing in 2014 cash costs for both the Young-Davidson and El Chanate mines were calculated based on ounces sold. Prior to
commissioning the underground mine at Young-Davidson, cash costs were calculated on ounces produced from the open pit only. All underground
costs were capitalized, and any revenue related to underground ounces sold was credited against capital expenditures. Subsequent to the
declaration of commercial production in the underground mine, cash costs are calculated on ounces produced from both the open pit and
underground mines, and revenue related to the sale of underground ounces is recognized in the Company’s Statement of Operations as revenue.
3. For more information regarding AuRico Gold’s 2014 operational estimates, including production, costs, and capital investments, please refer to the
press releases dated February 6, 2014 titled AuRico Gold Announces 2014 Operational Outlook and August 7, 2014 titled AuRico Gold Reports
Second Quarter Financial Results and Eighth Consecutive Quarter of Record Gold Production as Young-Davidson Ramp-Up Exceeds Expectations,
which are available on the Company website at www.auricogold.com.
4. Reserves and resources for Young-Davidson and El Chanate mines, and Orion represent gold grade as per technical reports and Company
disclosure. For more information regarding AuRico Gold’s Mineral Reserves and Resources as at December 31, 2013, please refer to the press
release dated March 3, 2014 titled AuRico Reports 2013 Reserve & Resource Update available on the Company website at www.auricogold.com.
Measured and indicated resources excludes inferred resources. For more information on the Kemess Feasibility Study, please refer to the press
release dated March 25, 2013 titled AuRico Reports 2012 Reserve & Resource Update and Kemess Feasibility Study Results. For more information
regarding drilling results from the Kemess East discovery refer to the press release issued December 15, 2014 titled AuRico Gold Announces a New
Gold-Copper Porphyry Discovery at the Kemess Project; Initial Resource Estimate Expected in Early 2015. For more information on the initial
resource for Kemess East refer to the press release issued January 21, 2015 titled AuRico Gold Announces Initial Resource of 5.5 Million Gold
Equivalent Ounces at Kemess East; Reserves and Resources of 10.6 Million gold equivalent ounces at Kemess Property.
5. Production figures include gold ounces only. 2012 and 2013 production at the Young-Davidson mine includes pre-production ounces, which include
ounces produced prior to the declaration of commercial production on September 1, 2012, and the declaration of commercial production in the
underground mine on October 31, 2013.
6. The illustrative yield assumes the share price as of January 20, 2015. Consensus data is as of January 20, 2015. 2014 to 2017 per share numbers
are based on the number of shares outstanding as of December 2014. For more information regarding AuRico Gold’s dividend policy, please refer to
the press release dated November 6, 2014, available on the Company website at www.auricogold.com.
7. For more information regarding the Lynn Lake District, please refer to the press release issued by Carlisle Goldfields dated February 27, 2014 titled
Carlisle Announces Optimized PEA of the Farley and MacLellan deposits at Lynn Lake returns Post-Tax IRR of 26.3% at US$1100 gold price.
21
Cash Flow Linked Dividend Policy
2.0%
1.8%
2.5%
FY 14E FY 15E FY 16E
Consensus Illustrative Yield* (6)
(6) Refer to endnote #6 * Source: FactSet consensus data.
20% of Operating Cash Flow beginning in 2014
• Distributed approx. $36 million in dividends since inception
• Encourages financial discipline
• Linked to changes in business profitability
• Leveraged to gold price
Includes a Dividend Reinvestment Plan (“DRIP”)
22
Industry
Experience
Background
17 years
• Appointed President and Chief Executive Officer in July 2012
• Joined AuRico in February 2008 as Chief Financial Officer
• Former Chief Financial Officer at Highland Gold Mining
• Held senior roles with Barrick in the United States, Australia,
Russia and Central Asia
21 years
• Appointed Chief Financial Officer in January 2013
• Former Vice President of Finance, Operations and Projects for
Kinross Gold since 2009
• Former Chief Financial Officer for Baffinland Iron Mines from
2006 to 2009
• Held increasingly senior positions with Barrick from 1998 to 2006
30 years
• Joined the AuRico team through the Northgate transaction,
where he was Chief Operating Officer for eight years
• Prior to joining Northgate, Mr. MacPhail held increasingly senior
roles at Noranda, Teck, Homestake and Barrick
SCOTT PERRY
President and CEO
ROBERT CHAUSSE
Executive Vice President
and CFO
PETER MACPHAIL
Executive Vice President
and COO
Executive Management
23
Institution Name Shares (AUQ_TSE) % S/O (AUQ_TSE) Dominant Style City
Van Eck Associates Corporation 42,378,167 16.98 Growth New York
Donald Smith & Company, Inc. 22,733,711 9.11 Value New York
USAA Asset Management Company 7,422,357 2.97 Specialty San Antonio
Wellington Management Company 6,000,571 2.40 Value Boston
Gabelli Funds, LLC 5,847,000 2.34 Value Rye
River Road Asset Management 5,617,208 2.25 Value Louisville
IA Michael Investment Counsel 4,900,000 1.96 Value Toronto
The Dreyfus Corporation 4,665,670 1.87 Value New York
Columbia Management 4,547,547 1.82 Value Boston
Fiera Capital Corporation 4,028,416 1.61 Value Montreal
Geologic Resource Partners, LLC 3,954,548 1.58 Alternative Boston
I.G. Investment Management, LTD (Canada) 3,598,224 1.44 Growth Winnipeg
PSP Investments 3,417,841 1.37 Value Montreal
OppenheimerFunds, Inc 3,340,000 1.34 Growth New York
Global X Management Company, LLC 2,734,847 1.10 Index New York
The Boston Company 2,574,443 1.03 Value Boston
Picton Mahoney Asset Management 2,202,640 0.88 Growth Toronto
CPP Investment Board 2,112,112 0.85 Growth Toronto
Commerzbank Corporates & Markets 2,092,860 0.84 Broker Frankfurt
Artisan Partners, L.P. 2,069,432 0.83 Growth Milwaukee
The Vanguard Group, Inc. 1,961,369 0.79 Index Malvern
Lombard Odier Asset Management 1,714,737 0.69 Alternative Petit-Lancy
BlackRock Asset Management Canada, LTD 1,711,820 0.69 Index Toronto
Eagle Boston Investment Management, Inc. 1,658,938 0.66 Value Boston
BMO Asset Management Inc. 1,591,266 0.64 Growth Toronto
Source: Ipreo (January 9, 2015)
AuRico Institutional Shareholders
24
Mineral Reserve Estimates - Gold
Category Tonnes (000’s) Grade (g/t) Ounces (000’s)
Young-Davidson Surface Proven 3,298 1.01 107
Probable 686 1.52 33
P&P 3,984 1.10 140
Underground Proven 10,626 2.90 990
Probable 28,669 2.78 2,566
P&P 39,296 2.81 3,556
Total P&P 43,280 2.66 3,696
El Chanate Proven 29,223 0.72 676
Probable 16,115 0.67 346
Total P&P 45,337 0.70 1,023
Kemess
Underground
Proven - - -
Probable 100,373 0.56 1,805
Total P&P 100,373 0.56 1,805
AuRico Total P&P 188,990 1.07 6,524
2013 Mineral Reserve Estimates - Gold
25
Note: Mineral Resources are in addition to Mineral Reserves
Mineral Resource Estimates - Gold
Category Tonnes (000’s) Grade (g/t) Ounces (000’s)
Young-Davidson Surface Measured 233 0.96 7
Indicated 535 1.41 24
M&I 769 1.28 32
Underground Measured 5,300 2.95 504
Indicated 11,659 2.62 981
M&I 16,960 2.72 1,484
Total M&I 17,729 2.66 1,516
Surface Inferred 31 0.99 1
Underground Inferred 3,689 2.72 323
Total Inferred 3,720 2.71 324
El Chanate Measured 2,158 0.31 22
Indicated 2,129 0.40 27
Total
M&I 4,287 0.36 49
Inferred 579 0.75 14
Kemess
Underground
Measured - - -
Indicated 65,432 0.41 854
Total
M&I 65,432 0.41 854
Inferred 9,969 0.39 125
Orion (50%) M&I - - -
Inferred 554 3.66 65
Total
M&I 554 3.66 65
Inferred 91 3.33 10
AuRico Total M&I 88,001 0.88 2,484
Inferred 14,357 1.02 472
2013 Mineral Resource Estimates - Gold
26
Mineral Reserve and Resource Estimates – Copper and Silver
Grade Contained Metal
Category Tonnes (000’s) Ag (g/t) Cu (%) Ag (000’s) oz Cu (000’s) lbs
Kemess
Underground
Probable Reserves 100,373 2.0 0.28 6,608 619,151
Indicated Resources 65,432 1.8 0.24 3,811 346,546
Inferred Resources 9,969 1.6 0.21 503 46,101
Orion (50%) Indicated Resources 554 309 - 5,503 -
Inferred Resources 91 95 - 275 -
2013 Mineral Resource Estimates –
Copper and Silver
Note: Mineral Resources are in addition to Mineral Reserves
27
Notes to Mineral Reserve and Resource tables:
• Mineral Reserves and Resources have been stated as at December 31, 2013.
• Mineral Resources are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
• El Chanate and Young-Davidson assumed a gold price of $1,250 per ounce for reserves and $1,450 per ounce for resources.
• Kemess Underground assumed a gold price of $1,300 per ounce, a silver price of $23.00 per ounce for silver, and a copper price of $3.00 per pound
for reserves. Kemess assumed a $13.00 NSR cutoff for resources.
• Orion assumed a gold price of $850 per ounce and a silver price of $13.00 per ounce for resources.
• Mineral Reserves assume the following cutoff grades and process recoveries:
• Young-Davidson – Surface: 0.50 gpt cutoff, 91% mill recovery
• Young-Davidson – Underground: 2.05 gpt cutoff, 91% mill recovery
• El Chanate: 0.15 gpt cutoff, 30%-65% leach recovery
• Kemess Underground: $15 NSR cutoff, mill recovery of 72% for gold and 91% for copper
• Reserves have been reported in accordance with NI 43-101, as required by Canadian securities regulatory authorities. In addition, while the terms
“Measured”, “Indicated and “Inferred” Mineral Resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian
standards differ significantly from the requirements of the SEC, and mineral resource information contained herein is not comparable to similar
information regarding mineral reserves disclosed in accordance with the requirements of the SEC. Investors should understand that “Inferred” Mineral
Resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition,
investors are cautioned not to assume that any part or all of AuRico’s Mineral Resources constitute or will be converted into Reserves.
• Orion Mineral Resources are reflected on a 50% basis. Following the completion of a joint venture agreement, Minera Frisco, S.A.B. de C.V. has a
50% interest in the Orion project.
• Mineral Reserve and Resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add
due to rounding.
• Mineral Resources were prepared under the supervision of Jeffrey Volk, CPG, FAusIMM, the Director of Reserves and Resources, for AuRico Gold
Inc. Mineral Reserves were prepared under the supervision of Chris Bostwick, FAusIMM, the Senior Vice President Technical Services, for AuRico
Gold Inc. Both Messrs Volk and Bostwick are “Qualified Persons” as defined by National Instrument 43-101.
Notes to Reserves and Resources
28
Kemess East Initial Resource
Kemess East Mineral Resource Estimates
Category
Tonnes
(000’s)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Au
(000's) oz.
Ag
(000’s) oz.
Cu
(000’s) lbs.
Au eq.
(000’s) oz.
Indicated Resources 55,864 0.52 2.00 0.41 939 3,601 503,663 2,101
Inferred Resources 117,152 0.38 1.79 0.34 1,424 6,739 871,407 3,435
Notes to Kemess East Resources
• Gold equivalent grade and ounces were calculated using assumed metal prices of US$1,300 per ounce for gold, US$23.00 per ounce for silver, and USD 3.00 per pound for copper. No
metallurgical recoveries were applied.
• Samples were prepared at an on-site sample preparation lab. The majority of prepared 250 g samples, crushed to 80% passing 10-mesh and pulverized to 85% passing 150-mesh, were
shipped in security sealed pails to ALS Chemex Laboratory in North Vancouver for analysis, with some 2007 samples submitted to Assayers Canada Laboratories in Vancouver. At both
accredited laboratories, samples were analyzed for a suite of 35 elements, including iron, molybdenum, and silver, using 2-acid digestion and ICP atomic emission spectroscopy on a one
gram sub-sample prior to 2010 and a 4-acid digestion thereafter. Copper analyses were completed by AA spectrometry, following a 3-acid digestion. Gold analyses were completed by
standard 1-assay-ton fire assay with an AA finish. Samples from significantly mineralized zones were also submitted for molybdenum assay, which included 4-acid digestion with an AA
finish.
• Quality control (QC) samples (blanks, duplicates, and certified reference materials) were inserted into the sample stream at regular intervals such that 1 in 25 (4%) samples were
submitted for quality control purposes. QC sample performance was monitored on a regular basis, independently of the laboratories, and failures addressed in a timely manner. All
sample batches were also subjected to each laboratory’s internal quality control procedures, for an additional 40% QC sample volume.
• Initial testwork for Kemess East has yielded similar metallurgical recoveries and concentrate grades to those exhibited for Kemess Underground. Metallurgical recoveries assumed for the
calculations of NSR’s are 91% for copper, 72% for gold and 65% for silver. Metallurgical testwork is ongoing.
• Resources were generated from 27 holes drilled at Kemess East in 2006, 2007, 2013 and 2014.
• The block model was constrained within a US$15 NSR grade shape. The resources reported herein were further constrained within block caving shapes of varying potential footprint
geometries and potential cave heights.
• Potential caving blocks were generated using the floating stope optimizer within Vulcan. Operating cost assumptions were similar to those determined within the Kemess Underground
Feasibility Study, with additional costs applied to mining to account for additional depth below surface.
• Resources reported herein are reported at a zero NSR cutoff, and as such includes internal dilution within the potential caving blocks. External dilution has not been included or
calculated.
• A National Instrument 43-101 compliant technical report is being prepared and will be filed on SEDAR at www.sedar.com within 45 days.
• Exploration activities by AuRico at the Kemess East Project have been conducted under the supervision of Wade Barnes, PGeo, Kemess Project Geologist, for AuRico Gold Inc. Mr.
Barnes is a “Qualified Person” as defined by National Instrument 43-101.
• Mineral Resources were prepared under the supervision of Jeffrey Volk, CPG, FAusIMM, the Director of Reserves and Resources, for AuRico Gold Inc. Mr. Volk is a “Qualified Person”
as defined by National Instrument 43-101.
Chris Bostwick, FAusIMM, Senior Vice President, Technical Services for AuRico Gold Inc. has reviewed and approved the scientific and technical information contained
within this press release. Mr. Bostwick is a “Qualified Person” as defined by National Instrument 43-101.
29

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Montreal Marketing

  • 1. Montreal Marketing – February 3, 2015 TSX; NYSE: AUQ www.auricogold.com Built for SUCCESS All amounts are in US dollars unless otherwise indicated
  • 2. Forward Looking Statements Cautionary Statement This presentation contains certain information that constitutes “forward-looking information” and “forward-looking statements” as defined under Canadian and U.S. securities laws. All statements in this press release, other than statements of historical fact, are forward-looking statements. The words “expect”, “believe”, “anticipate”, “contemplate”, “may”, “could”, “will”, “intend”, “estimate”, “forecast”, “target”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward-looking statements in this presentation include, without limitation, statements with respect to our expectations on underground productivity levels, underground unit mining cost, underground development, mill facility processing rate, cash flow, free cash flow, cash costs, capital investment and timing to completion on the final leg of the Northgate production shaft, information as to our strategy, plans and future financial and operating performance, such as our expansion plans, project timelines, production plans, projected cash flows or capital expenditure levels, cost estimates, mining or milling methods, projected exploration results, resource and reserve estimates, other statements that express our expectations or estimates of future performance, the success of exploration activities, the Company’s ability to delineate additional resources and reserves as a result of such programs, statements regarding the advancement of the Lynn Lake district, the completion of a feasibility study on the Lynn Lake Project within the indicated timeframe, mineral reserves and mineral resources and anticipated grades, exploration expenditures, costs and timing of any future development, costs and timing of future exploration and the Company’s intentions regarding its investment in Carlisle, the presence of and continuity of metals at Kemess East at modeled grades. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management at the time of making such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors and assumptions underlying the forward-looking statements in this press release include, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold; changes in foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; any decision to declare a quarterly dividend; employee relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining inputs and labor; development delays at the Young-Davidson mine; operating or technical difficulties in connection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson and El Chanate mines may not perform as planned; uncertainty with the Company’s ability to secure capital to execute its business plans; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits, authorizations and/or approvals from the appropriate regulatory authorities for the Kemess Underground project; contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the Company does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued by the Company, as well as those factors discussed under “Risk Factors” in the Company’s most recent Annual Information Form. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this presentation. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the assumptions set forth in our most recent Form 40- F/Annual Information Form. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. There can be no assurance that forward-looking statements or information will prove to be accurate, accordingly, investors should not place undue reliance on the forward- looking statements or information contained herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Cautionary Note to U.S. Investors Concerning Measured, Indicated and Inferred Resources This presentation uses the terms "measured", "indicated" and "inferred” resources. We advise investors that while those terms are recognized and required by Canadian regulations, the United States Securities and Exchange 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 any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. 2
  • 3. Built for Success Low cost, long life assets Significant production growth Growing free cash flow profile Strong resource project pipeline Strong liquidity profile Significant Canadian tax loss pools Favourable Canadian dollar exposure Quarterly dividend distributions - 50,000 100,000 150,000 200,000 250,000 300,000 350,000 FY 12 FY 13 FY 14 FY 15E FY 16E FY 17E GoldOunces(5) AuRico Gold: Built For Success Significant Production Growth* Growing Free Cash Flow* (0.50) (0.40) (0.30) (0.20) (0.10) 0.00 0.10 0.20 0.30 0.40 FY 14E FY 15E FY 16E FY 17E FY 18E FreeCashFlowperShare * Source: FactSet consensus data.(5) Refer to endnote #5 3
  • 4. AuRico Gold Overview (as of Sept. 30, 2014) Cash $100MUndrawn debt facility $150M Capital Structure Issued and Outstanding Shares 249.6M Options 14.2M Share Units 1.5M Fully Diluted 265.4M (as of December 31, 2014) Broker Analyst 1 Credit Suisse Anita Soni 2 RBC Capital Markets Dan Rollins 3 Morgan Stanley Brad Humphrey 4 National Bank Financial Adam Melnyk 5 BMO Capital Markets Brian Quast 6 CIBC World Markets Cosmos Chiu 7 Pareto Securities John McClintock 8 Desjardins Securities Mike Parkin 9 Raymond James Phil Russo 10 TD Securities Steve Green 11 Mackie Research Barry Allan 12 GMP Securities Ian Parkinson 13 Dundee Capital Markets Joe Fazzini 14 Canaccord Genuity Rahul Paul 15 Macquarie Research Mike Siperco 16 Scotiabank GBM Trevor Turnbull $250M in Liquidity Analyst Coverage Corporate Information (AUQ:TSX,NYSE) 2015 2016 2017 2018 2019 2020 No Significant Debt Maturities until 2020 $315M High Yield Bond C$20M Payment and Restructured Royalty Agreement (Jan. 2015) 4
  • 5. Balanced North American Portfolio YOUNG-DAVIDSON Location: Ontario, Canada Underground Mine EL CHANATE Location: Sonora State, Mexico Open Pit Mine KEMESS UNDERGROUND Location: B.C., Canada Advanced Development Project LYNN LAKE GOLD CAMP Location: Manitoba, Canada Open Pit Development Project Advanced high-grade open pit gold mine development project One of Canada’s largest underground gold mines Consistent, low cost open pit mine Advanced Copper Gold porphyry development project 5
  • 6. Young-Davidson Production Growth (5) Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 2014 Gold ounces produced (5) 28,281 29,252 30,099 33,106 35,104 40,166 40,538 40,945 156,753 Underground cash costs per oz. - - - $663 $808 $803 $656 $656 $719 Open pit cash costs per oz. $694 $716 $666 $983 $1,350 $974 $923 $994 $1,071 Total cash costs per oz. (1)(2) $694 $716 $666 $850 $1,009 $871 $723 $719 $825 Underground mine Tonnes mined per day 1,130 1,611 1,417 2,590 2,611 3,595 3,752 4,140 3,530 Grades (g/t) 2.7 2.5 2.8 3.1 2.8 3.3 3.1 3.0 3.1 Development metres 1,941 2,445 2,620 2,986 3,772 3,545 3,269 3,438 14,024 Mill processing facility Tonnes processed per day 6,466 7,017 6,747 6,969 7,163 8,230 7,670 7,757 7,707 Grades (incl. open pit stockpile) 1.8 1.7 1.7 2.0 1.8 2.2 1.9 2.0 2.0 Recoveries (%) 86% 85% 89% 88% 87% 88% 90% 88% 88% Young-Davidson Quarterly Operational Results (1) Refer to endnote #1 (2) Refer to endnote #2 (5) Refer to endnote #5 11,950 17,825 26,363 28,281 29,252 30,099 33,106 35,104 40,166 40,538 40,945 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 GoldOuncesProduced(5) StrongOperations:Growing Production 6
  • 7. 3,000 4,140 6,000 8,000 8,000 2013 2014 2015E 2016E 2017E OreTonnesperDay YE target of 2,000tpd 170 U/G miners 207 U/G miners 240 U/G miners 240 U/G miners Young-Davidson:Strategic Canadian Asset 2013 2014 Gold Production (koz) (5) 120.7 156.8 Underground Cash Costs ($/oz) (1)(2) $663 $719 Open Pit Cash Costs ($/oz) (1)(2) $757 $1,071 Cash Costs ($/oz) (1)(2) $744 $825 Capital Investment ($M)(3) $191 Up to $135 Projected Asset Life (years) +20 Underground Reserves (Moz) (4) 3.6 Au Grade (g/t) 2.81 Underground M&I (Moz) (4) 1.5 Au Grade (g/t) 2.27 Consecutive Quarterly Production Growth Profile(5) - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 GoldOuncesProduced Significant Gold Production Growth*(5)Production Ramp-Up (Year-End Exit Rates) - 50,000 100,000 150,000 200,000 250,000 2012 2013 2014 2015E 2016E 2017E GoldOunces (1) Refer to endnote #1 (2) Refer to endnote #2 (3) Refer to endnote #3 (4) Refer to endnote #4 (5) Refer to endnote #5 * Source: FactSet consensus data. YE target of 4,000tpd 7
  • 8. 9890L 9590L 9400L 9200L 8900L Young-Davidson:Underground Mining 2014 “Proof of Construct” Scorecard 140kozs to 160kozs 157kozs UG productivity @ 4,140tpd Q4-2014 UG unit costs @ $39/tonne Q4-2014 UG cash costs @ $650/oz Q3-2014 Positive net free cash flow Q4-2014 2015 Business Plan Gold production growth of 10-15% UG productivity increase to 6,000tpd UG cash costs under $650/oz Capital expenditure decrease of approx. 30% Growing positive net free cash flows 8
  • 9. Young-Davidson: Processing Facility 18% 17% 23% 21% 37% 36% 44% 45% 53% 75% 88% 100% 100% 100% 82% 83% 77% 79% 63% 64% 56% 55% 47% 25% 13% Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 2015E 2016E 2017E Underground Open Pit incl. Stockpile Mill Grade 4,340 5,866 5,964 6,466 7,017 6,747 6,969 7,163 8,230 7,670 7,757 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 TonnesperDay Mill Processing Expansion Growing Underground Ore Feed Commissioned capacity of 6,000 tpd Mill capacity expanded to 8,000 tpd Processing cash flow accretive stockpiles Gold recovery target increased to 90% Surface stockpiles of 2.5mt @ 0.75 g/t* * As of Dec. 31/14 9
  • 10. Location Map Young-Davidson: Strategic Canadian Asset Q4 Cash Flow Estimate ($M's) Opex $22 Total Capex $20 Cash Flow $9 Revenue $51 Transitioned to Positive Net Free Cash Flow in Q4-2014 Gold Producers in Canada Red Lake (incl. Cochenour) 498 Porcupine 293 Eleonore 350 Musselwhite 274 Meadowbank 377 LaRonde 247 Goldex 99 Lapa 76 Canadian Malartic (50%) 299 Detour Lake 540 Canadian Malartic (50%) 299 Hemlo 205 Young- Davidson 170 Goldcorp Inc. Agnico Eagle Mines Ltd. Detour Gold Corp. Yamana Gold Inc. Barrick Gold Corp. AuRico Gold Inc. Source: Scotiabank (2015E Gold Production (koz)) Ontario Quebec Timmins Kirkland Lake Matheson Duparquet Rouyn- Noranda Young-Davidson Porcupine Destor Gold Belt Kirkland Larder Lake Gold Belt 10
  • 11. Young-Davidson: Strategic Canadian Asset USD/CAD $0.95 USD/CAD $0.90 USD/CAD $0.85 400 500 600 700 800 900 1,000 1,100 1,200 0 50 100 150 200 250 2014E 2015E 2016E 2017E 2018E 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E BreakEvenCostperOunce GoldOunces(000’s) Gold Ounces USD/CAD $0.95 USD/CAD $0.90 USD/CAD $0.85 One of the Largest Underground Gold Mines in Canada Long Life, Low Cost, Significant Free Cash Flow Note: Gold ounces produced and break-even costs per ounce are estimates only and should not be considered as Company guidance. 11
  • 12. El Chanate: Consistent Gold Production 2013 2014 Au Production (koz) (5) 71.9 67.3 Cash Costs ($/oz) (1)(2) $592 $669 Capital Investment ($M)(3) $39 $20 - $25 Projected Asset Life (years) 7 Reserves (Moz) (4) 1.00 Au Grade (g/t) 0.70 - 10,000 20,000 30,000 40,000 50,000 60,000 70,000 2011 2012 2013 2014 GoldProductionOunces Consistent Gold Production(5) (1) Refer to endnote #1 (2) Refer to endnote #2 (3) Refer to endnote #3 (4) Refer to endnote #4 (5) Refer to endnote #5 Consistent production of up to 70kozs Industry competitive operating costs 2015 capital decrease of up to 25% Key exploration focus 12
  • 13. Mine Type Underground Block Cave Avg. LOM Annual Prod. 105 koz Au / 44 Mlbs Cu Avg. LOM Cash Costs (US$/oz) (1) $213 Avg. LOM AISC (US$/oz) (1) $352 Projected Mine Life (years) 12 Au.Eq. Reserves (Moz) (4) 3.3 Au grade (g/t) 0.56 Cu Grade (%) 0.28 Au.Eq. Grade (g/t) 1.01 Au.Eq. Resources (Moz) (4) 5.2 Au.Eq. Grade (g/t) 0.92 NPV (5%) >$225M 2013 Kemess Underground Feasibility Highlights(4) $1B of Surface Infrastructure - 50ktpd Mill, Grid Power, Tailings Storage Facility, Camp Facilities Kemess: High Valuation Upside Opportunity (1) Refer to endnote #1 (4) Refer to endnote #4 Fully operational surface infrastructure Positive Feasibility Study completed Permitting: Phase 2 of 3 phase process Significant new exploration discovery Expanded $5-$10M exploration program 13
  • 14. Kemess East: Significant New Discovery(4) KEMESS EAST Section A Looking North Expanded 2015 Exploration Program ($5 to $10M) Initial Kemess East Resource of 5.5 Million Gold Equivalent Ounces(4) Reserves and Resources of 10.6 Million Gold Equivalent Ounces at Kemess Property (4) Refer to endnote #4 14
  • 15. Lynn Lake – High Grade Open Pit Project Project Overview(7) Mine Type Open Pit Au Grade (g/t) 2.2 Au M&I (Moz) 1.50 Avg. LOM Annual Mill Prod. (koz) 145 Avg. LOM Cash Costs (C$oz) $530 Initial Capex (C$M) $185 Projected Mine Life (years) 12 NPV(5%) (C$M) $257 Optimized PEA Assumptions (US$) $1,100 Au / $18 Ag Source: Carlisle Goldfields Company Reports Strategic Low-Risk Opportunity in Early-Stage, Highly Prospective Lynn Lake Mining District Significant new value creating opportunity following inexpensive C$10M upfront investment AuRico is the operator and has controlling representation on management committee 60% ownership interest by funding up to C$20M over 3 years and delivering a feasibility study (7) Refer to endnote #7 15
  • 16. Lynn Lake – High Grade Open Pit Project(7) One of the highest grade open pit deposits in Canada with significant exploration potential Existing infrastructure in place, low power rates of C$0.027/kwh Commenced Feasibility Study with Young-Davidson project team as lead Significant 2015 resource delineation & extension drilling program ($6M to $8M) Source: Company Reports 16
  • 17. 2017 Young-Davidson Gold Mine Operation at Full Capacity Significant Free Cash Flow Profile El Chanate Gold Mine Consistent Production Exploration Drilling Program Kemess Development Project Construction Decision Kemess East Feasibility Advancement Lynn Lake Development Project Exploration Drilling Program Updates Feasibility Published Expected Receipt of Permits Construction Decision 2016 Young-Davidson Gold Mine Production Ramp up to 8,000tpd Growing Free Cash Flow El Chanate Gold Mine Consistent Production Exploration Drilling Program Kemess Development Project Expected Receipt of Permits Kemess East Feasibility Lynn Lake Development Project Exploration Drilling Program Updates Feasibility Advancement Permitting Advancement 2015 Young-Davidson Gold Mine Production Ramp up to 6,000tpd Growing Free Cash Flow El Chanate Gold Mine Consistent Production Exploration Drilling Program Kemess Development Project Initial Resource Estimate at Kemess East Permitting Advancement Expanded Exploration Drilling Program Lynn Lake Development Project Exploration Drilling Program Updates Resource Extension & Delineation Program Feasibility Program Advancement AuRico: Value Creation Business Plan Valuation Catalysts 17
  • 18. Balanced Portfolio: Built for Success 150 170 190 210 230 250 270 290 310 330 350 FY 14 FY 15E FY 16E FY 17E FY 18E OuncesProduced(000’s) (0.50) (0.40) (0.30) (0.20) (0.10) 0.00 0.10 0.20 0.30 0.40 FY 14E FY 15E FY 16E FY 17E FY 18E PerShare 0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 FY 14E FY 15E FY 16E FY 17E FY 18E PerShare 0.0 0.5 1.0 1.5 2.0 2.5 3.0 FY 14E FY 15E FY 16E DividendYield(%) Growing Operating Cash Flows*Growing Production Profile*(5) Consensus Illustrative Dividend Yield* (6)Growing Free Cash Flows* * Source: FactSet consensus data.(5) Refer to endnote #5 (6) Refer to endnote #6 18
  • 19. Built for Success Exclusive North American portfolio Low cost, long life assets Significant production growth Growing free cash flow profile Strong resource project pipeline Strong liquidity profile Significant Canadian tax loss pools Favourable Canadian dollar exposure Quarterly dividend distributions - 50,000 100,000 150,000 200,000 250,000 300,000 350,000 FY 12 FY 13 FY 14 FY 15E FY 16E FY 17E GoldOunces(5) AuRico Gold: Built For Success Significant Production Growth* Growing Free Cash Flow* (0.50) (0.40) (0.30) (0.20) (0.10) 0.00 0.10 0.20 0.30 0.40 FY 14E FY 15E FY 16E FY 17E FY 18E FreeCashFlowperShare * Source: FactSet consensus data.(5) Refer to endnote #5 19
  • 21. Endnotes All amounts are in US dollars unless otherwise indicated 1. Cash Costs per Gold Ounce and All-In Sustaining Costs (“AISC”) Per Gold Ounce are Non-GAAP measures that do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS” or “GAAP”), and that should not be considered in isolation from or as a substitute for performance measures prepared in accordance with GAAP. See the Non-GAAP Measures section on page 23 of the Management's Discussion and Analysis for the year ended December 31, 2013 available on the Company website at www.auricogold.com. 2014 fourth quarter and annual cash costs are prior to inventory net realizable adjustments and reversals, and are estimates only and subject to change. 2. Cash costs for the Young-Davidson and El Chanate mines are calculated on a per gold ounce basis, net of by-product revenues and net realizable value adjustments and reversals. Prior to 2014, gold ounces include ounces sold at the El Chanate mine and ounces produced at the Young- Davidson mine. Commencing in 2014 cash costs for both the Young-Davidson and El Chanate mines were calculated based on ounces sold. Prior to commissioning the underground mine at Young-Davidson, cash costs were calculated on ounces produced from the open pit only. All underground costs were capitalized, and any revenue related to underground ounces sold was credited against capital expenditures. Subsequent to the declaration of commercial production in the underground mine, cash costs are calculated on ounces produced from both the open pit and underground mines, and revenue related to the sale of underground ounces is recognized in the Company’s Statement of Operations as revenue. 3. For more information regarding AuRico Gold’s 2014 operational estimates, including production, costs, and capital investments, please refer to the press releases dated February 6, 2014 titled AuRico Gold Announces 2014 Operational Outlook and August 7, 2014 titled AuRico Gold Reports Second Quarter Financial Results and Eighth Consecutive Quarter of Record Gold Production as Young-Davidson Ramp-Up Exceeds Expectations, which are available on the Company website at www.auricogold.com. 4. Reserves and resources for Young-Davidson and El Chanate mines, and Orion represent gold grade as per technical reports and Company disclosure. For more information regarding AuRico Gold’s Mineral Reserves and Resources as at December 31, 2013, please refer to the press release dated March 3, 2014 titled AuRico Reports 2013 Reserve & Resource Update available on the Company website at www.auricogold.com. Measured and indicated resources excludes inferred resources. For more information on the Kemess Feasibility Study, please refer to the press release dated March 25, 2013 titled AuRico Reports 2012 Reserve & Resource Update and Kemess Feasibility Study Results. For more information regarding drilling results from the Kemess East discovery refer to the press release issued December 15, 2014 titled AuRico Gold Announces a New Gold-Copper Porphyry Discovery at the Kemess Project; Initial Resource Estimate Expected in Early 2015. For more information on the initial resource for Kemess East refer to the press release issued January 21, 2015 titled AuRico Gold Announces Initial Resource of 5.5 Million Gold Equivalent Ounces at Kemess East; Reserves and Resources of 10.6 Million gold equivalent ounces at Kemess Property. 5. Production figures include gold ounces only. 2012 and 2013 production at the Young-Davidson mine includes pre-production ounces, which include ounces produced prior to the declaration of commercial production on September 1, 2012, and the declaration of commercial production in the underground mine on October 31, 2013. 6. The illustrative yield assumes the share price as of January 20, 2015. Consensus data is as of January 20, 2015. 2014 to 2017 per share numbers are based on the number of shares outstanding as of December 2014. For more information regarding AuRico Gold’s dividend policy, please refer to the press release dated November 6, 2014, available on the Company website at www.auricogold.com. 7. For more information regarding the Lynn Lake District, please refer to the press release issued by Carlisle Goldfields dated February 27, 2014 titled Carlisle Announces Optimized PEA of the Farley and MacLellan deposits at Lynn Lake returns Post-Tax IRR of 26.3% at US$1100 gold price. 21
  • 22. Cash Flow Linked Dividend Policy 2.0% 1.8% 2.5% FY 14E FY 15E FY 16E Consensus Illustrative Yield* (6) (6) Refer to endnote #6 * Source: FactSet consensus data. 20% of Operating Cash Flow beginning in 2014 • Distributed approx. $36 million in dividends since inception • Encourages financial discipline • Linked to changes in business profitability • Leveraged to gold price Includes a Dividend Reinvestment Plan (“DRIP”) 22
  • 23. Industry Experience Background 17 years • Appointed President and Chief Executive Officer in July 2012 • Joined AuRico in February 2008 as Chief Financial Officer • Former Chief Financial Officer at Highland Gold Mining • Held senior roles with Barrick in the United States, Australia, Russia and Central Asia 21 years • Appointed Chief Financial Officer in January 2013 • Former Vice President of Finance, Operations and Projects for Kinross Gold since 2009 • Former Chief Financial Officer for Baffinland Iron Mines from 2006 to 2009 • Held increasingly senior positions with Barrick from 1998 to 2006 30 years • Joined the AuRico team through the Northgate transaction, where he was Chief Operating Officer for eight years • Prior to joining Northgate, Mr. MacPhail held increasingly senior roles at Noranda, Teck, Homestake and Barrick SCOTT PERRY President and CEO ROBERT CHAUSSE Executive Vice President and CFO PETER MACPHAIL Executive Vice President and COO Executive Management 23
  • 24. Institution Name Shares (AUQ_TSE) % S/O (AUQ_TSE) Dominant Style City Van Eck Associates Corporation 42,378,167 16.98 Growth New York Donald Smith & Company, Inc. 22,733,711 9.11 Value New York USAA Asset Management Company 7,422,357 2.97 Specialty San Antonio Wellington Management Company 6,000,571 2.40 Value Boston Gabelli Funds, LLC 5,847,000 2.34 Value Rye River Road Asset Management 5,617,208 2.25 Value Louisville IA Michael Investment Counsel 4,900,000 1.96 Value Toronto The Dreyfus Corporation 4,665,670 1.87 Value New York Columbia Management 4,547,547 1.82 Value Boston Fiera Capital Corporation 4,028,416 1.61 Value Montreal Geologic Resource Partners, LLC 3,954,548 1.58 Alternative Boston I.G. Investment Management, LTD (Canada) 3,598,224 1.44 Growth Winnipeg PSP Investments 3,417,841 1.37 Value Montreal OppenheimerFunds, Inc 3,340,000 1.34 Growth New York Global X Management Company, LLC 2,734,847 1.10 Index New York The Boston Company 2,574,443 1.03 Value Boston Picton Mahoney Asset Management 2,202,640 0.88 Growth Toronto CPP Investment Board 2,112,112 0.85 Growth Toronto Commerzbank Corporates & Markets 2,092,860 0.84 Broker Frankfurt Artisan Partners, L.P. 2,069,432 0.83 Growth Milwaukee The Vanguard Group, Inc. 1,961,369 0.79 Index Malvern Lombard Odier Asset Management 1,714,737 0.69 Alternative Petit-Lancy BlackRock Asset Management Canada, LTD 1,711,820 0.69 Index Toronto Eagle Boston Investment Management, Inc. 1,658,938 0.66 Value Boston BMO Asset Management Inc. 1,591,266 0.64 Growth Toronto Source: Ipreo (January 9, 2015) AuRico Institutional Shareholders 24
  • 25. Mineral Reserve Estimates - Gold Category Tonnes (000’s) Grade (g/t) Ounces (000’s) Young-Davidson Surface Proven 3,298 1.01 107 Probable 686 1.52 33 P&P 3,984 1.10 140 Underground Proven 10,626 2.90 990 Probable 28,669 2.78 2,566 P&P 39,296 2.81 3,556 Total P&P 43,280 2.66 3,696 El Chanate Proven 29,223 0.72 676 Probable 16,115 0.67 346 Total P&P 45,337 0.70 1,023 Kemess Underground Proven - - - Probable 100,373 0.56 1,805 Total P&P 100,373 0.56 1,805 AuRico Total P&P 188,990 1.07 6,524 2013 Mineral Reserve Estimates - Gold 25
  • 26. Note: Mineral Resources are in addition to Mineral Reserves Mineral Resource Estimates - Gold Category Tonnes (000’s) Grade (g/t) Ounces (000’s) Young-Davidson Surface Measured 233 0.96 7 Indicated 535 1.41 24 M&I 769 1.28 32 Underground Measured 5,300 2.95 504 Indicated 11,659 2.62 981 M&I 16,960 2.72 1,484 Total M&I 17,729 2.66 1,516 Surface Inferred 31 0.99 1 Underground Inferred 3,689 2.72 323 Total Inferred 3,720 2.71 324 El Chanate Measured 2,158 0.31 22 Indicated 2,129 0.40 27 Total M&I 4,287 0.36 49 Inferred 579 0.75 14 Kemess Underground Measured - - - Indicated 65,432 0.41 854 Total M&I 65,432 0.41 854 Inferred 9,969 0.39 125 Orion (50%) M&I - - - Inferred 554 3.66 65 Total M&I 554 3.66 65 Inferred 91 3.33 10 AuRico Total M&I 88,001 0.88 2,484 Inferred 14,357 1.02 472 2013 Mineral Resource Estimates - Gold 26
  • 27. Mineral Reserve and Resource Estimates – Copper and Silver Grade Contained Metal Category Tonnes (000’s) Ag (g/t) Cu (%) Ag (000’s) oz Cu (000’s) lbs Kemess Underground Probable Reserves 100,373 2.0 0.28 6,608 619,151 Indicated Resources 65,432 1.8 0.24 3,811 346,546 Inferred Resources 9,969 1.6 0.21 503 46,101 Orion (50%) Indicated Resources 554 309 - 5,503 - Inferred Resources 91 95 - 275 - 2013 Mineral Resource Estimates – Copper and Silver Note: Mineral Resources are in addition to Mineral Reserves 27
  • 28. Notes to Mineral Reserve and Resource tables: • Mineral Reserves and Resources have been stated as at December 31, 2013. • Mineral Resources are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. • El Chanate and Young-Davidson assumed a gold price of $1,250 per ounce for reserves and $1,450 per ounce for resources. • Kemess Underground assumed a gold price of $1,300 per ounce, a silver price of $23.00 per ounce for silver, and a copper price of $3.00 per pound for reserves. Kemess assumed a $13.00 NSR cutoff for resources. • Orion assumed a gold price of $850 per ounce and a silver price of $13.00 per ounce for resources. • Mineral Reserves assume the following cutoff grades and process recoveries: • Young-Davidson – Surface: 0.50 gpt cutoff, 91% mill recovery • Young-Davidson – Underground: 2.05 gpt cutoff, 91% mill recovery • El Chanate: 0.15 gpt cutoff, 30%-65% leach recovery • Kemess Underground: $15 NSR cutoff, mill recovery of 72% for gold and 91% for copper • Reserves have been reported in accordance with NI 43-101, as required by Canadian securities regulatory authorities. In addition, while the terms “Measured”, “Indicated and “Inferred” Mineral Resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the SEC. Investors should understand that “Inferred” Mineral Resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of AuRico’s Mineral Resources constitute or will be converted into Reserves. • Orion Mineral Resources are reflected on a 50% basis. Following the completion of a joint venture agreement, Minera Frisco, S.A.B. de C.V. has a 50% interest in the Orion project. • Mineral Reserve and Resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding. • Mineral Resources were prepared under the supervision of Jeffrey Volk, CPG, FAusIMM, the Director of Reserves and Resources, for AuRico Gold Inc. Mineral Reserves were prepared under the supervision of Chris Bostwick, FAusIMM, the Senior Vice President Technical Services, for AuRico Gold Inc. Both Messrs Volk and Bostwick are “Qualified Persons” as defined by National Instrument 43-101. Notes to Reserves and Resources 28
  • 29. Kemess East Initial Resource Kemess East Mineral Resource Estimates Category Tonnes (000’s) Au (g/t) Ag (g/t) Cu (%) Au (000's) oz. Ag (000’s) oz. Cu (000’s) lbs. Au eq. (000’s) oz. Indicated Resources 55,864 0.52 2.00 0.41 939 3,601 503,663 2,101 Inferred Resources 117,152 0.38 1.79 0.34 1,424 6,739 871,407 3,435 Notes to Kemess East Resources • Gold equivalent grade and ounces were calculated using assumed metal prices of US$1,300 per ounce for gold, US$23.00 per ounce for silver, and USD 3.00 per pound for copper. No metallurgical recoveries were applied. • Samples were prepared at an on-site sample preparation lab. The majority of prepared 250 g samples, crushed to 80% passing 10-mesh and pulverized to 85% passing 150-mesh, were shipped in security sealed pails to ALS Chemex Laboratory in North Vancouver for analysis, with some 2007 samples submitted to Assayers Canada Laboratories in Vancouver. At both accredited laboratories, samples were analyzed for a suite of 35 elements, including iron, molybdenum, and silver, using 2-acid digestion and ICP atomic emission spectroscopy on a one gram sub-sample prior to 2010 and a 4-acid digestion thereafter. Copper analyses were completed by AA spectrometry, following a 3-acid digestion. Gold analyses were completed by standard 1-assay-ton fire assay with an AA finish. Samples from significantly mineralized zones were also submitted for molybdenum assay, which included 4-acid digestion with an AA finish. • Quality control (QC) samples (blanks, duplicates, and certified reference materials) were inserted into the sample stream at regular intervals such that 1 in 25 (4%) samples were submitted for quality control purposes. QC sample performance was monitored on a regular basis, independently of the laboratories, and failures addressed in a timely manner. All sample batches were also subjected to each laboratory’s internal quality control procedures, for an additional 40% QC sample volume. • Initial testwork for Kemess East has yielded similar metallurgical recoveries and concentrate grades to those exhibited for Kemess Underground. Metallurgical recoveries assumed for the calculations of NSR’s are 91% for copper, 72% for gold and 65% for silver. Metallurgical testwork is ongoing. • Resources were generated from 27 holes drilled at Kemess East in 2006, 2007, 2013 and 2014. • The block model was constrained within a US$15 NSR grade shape. The resources reported herein were further constrained within block caving shapes of varying potential footprint geometries and potential cave heights. • Potential caving blocks were generated using the floating stope optimizer within Vulcan. Operating cost assumptions were similar to those determined within the Kemess Underground Feasibility Study, with additional costs applied to mining to account for additional depth below surface. • Resources reported herein are reported at a zero NSR cutoff, and as such includes internal dilution within the potential caving blocks. External dilution has not been included or calculated. • A National Instrument 43-101 compliant technical report is being prepared and will be filed on SEDAR at www.sedar.com within 45 days. • Exploration activities by AuRico at the Kemess East Project have been conducted under the supervision of Wade Barnes, PGeo, Kemess Project Geologist, for AuRico Gold Inc. Mr. Barnes is a “Qualified Person” as defined by National Instrument 43-101. • Mineral Resources were prepared under the supervision of Jeffrey Volk, CPG, FAusIMM, the Director of Reserves and Resources, for AuRico Gold Inc. Mr. Volk is a “Qualified Person” as defined by National Instrument 43-101. Chris Bostwick, FAusIMM, Senior Vice President, Technical Services for AuRico Gold Inc. has reviewed and approved the scientific and technical information contained within this press release. Mr. Bostwick is a “Qualified Person” as defined by National Instrument 43-101. 29