september 2009 - amazon s3 · september 2009 3 caution regarding forward-looking information this...

September 2009Steve Lang, President and CEO

September 2009 3

Caution Regarding Forward-Looking Information

This presentation and the documents incorporated by reference herein, contain statements which are not current statements or historical facts and are “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, contained or incorporated by reference in this presentation constitute forward-looking information. Wherever possible, words such as “plans”, “expects” or “does not expect”, “budget”, “forecasts”, “projections”, “anticipate” or “does not anticipate”, “believe”, “intent”, “potential”, “strategy”, “schedule”, “estimates” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved and other similar expressions have been used to identify forward-looking information. These forward-looking statements relate to, among other things Centerra’s expectations regarding, future growth, results of operations (including, without limitation, future production and sales, and operating and capital expenditures), performance (both operational and financial), business and political environment and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities.

Although the forward-looking information in this presentation reflects Centerra’s current beliefs on the date of this presentation based upon information currently available to management and based upon what management believes to be reasonable assumptions, Centerra cannot be certain that actual results, performance, achievements, prospects and opportunities, either expressed or implied, will be consistent with such forward-looking information. By its very nature, forward-looking information necessarily involves significant known and unknown risks, assumptions, uncertainties and contingencies that may cause Centerra’s actual results, assumptions, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among other things, risks relating to gold prices, replacement of reserves, reduction in reserves related to geotechnical risks, ground movements, political risk, nationalization risk, changes in laws and regulations, civil unrest, labour unrest, legal compliance costs, reserve and resource estimates, production estimates, exploration and development activities, competition, operational risks, environmental, heath and safety risks, costs associated with reclamation and decommissioning, defects in title, seismic activity, cost and availability of labour, material and supplies, increases in production and capital costs, permitting and construction to raise the tailings dam height and increase the capacity of the existing Kumtor tailing dam, illegal mining, enforcement of legal rights, decommissioning and reclamation cost estimates, future financing and personnel. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or intended. See “Risk Factors” in the Company’s 2008 Annual Information Form and Annual Management’s Discussion and Analysis available on SEDAR at www.sedar.com.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward-looking information and statements contained in this presentation. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue reliance on forward- looking information. Forward-looking information and assumptions are as of July 30, 2009. Centerra assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

All figures are in United States dollars unless otherwise stated.

September 2009 4

Agenda

P e r f o r m a n c e

T h e p l a t f o r m s

T h e f u t u r e

September 2009 5

2008: A Strong Gold Production Year…

586 555

749

2006 2007 2008

(‘000 oz gold)

5

September 2009 6

… Resulted in Revenues up 70%

$365 $373

$636

2006 2007 2008

($M)

6

September 2009 7

… Cash Flow from Operations Increased 4x

$80

$41

$166

2006 2007 2008

($M)

7

September 2009 8

First Half Highlights

Gold production (‘000 oz) 214 279

Average realized gold price ($/oz) $906 $898

Revenues $203M $255M

Earnings (loss) before unusual items $(51)M $38M

Net Earnings (loss) after unusual items $(100)M $75M

Cash from operations $(6)M $39M

1H2009

1H2008

Please refer to July 30, 2009 news release and MDA for the periods ending June 30, 2009 and 2008 and Caution Regarding Forward-Looking Information.

September 2009 9

Significant Valuation Gap

$11.4 B

$8.5 B

$6.7 B$6.2 B$5.6 B

$1.8 B$1.7 B$1.2 B$2.2 B

$1.0 B

$4.8 B

Gammon Almos Centerra Sino PeterHambro

Eldorado Iamgold Randgold LihirGold

Yamana Agnico

Market cap (Cdn$ - Sept. 4/09) of mid-tier gold producers

2009e

2008 151

Gold Production (000’ oz)

160 730 477 880 1,100**GEO

590

749 394 997 790* 277154 309

216 333

881154

305 479

428

1,108

September 2009 10

P / Consensus NAV

September 2009 11

Agenda



T h e f u t u r e

September 2009 12

Boroo

2008

• 193,000 oz. gold

• Cash cost $382/oz

Two Solid Growth Platforms

• Financial resources • Operating expertise • Track record

Kumtor

2008

• 556,000 oz. gold


September 2009 13

Signed on April 24, 2009

Approved by Parliament on April 30, 2009

Signed by President on May 2, 2009

13

Closed on June 11, 2009

Recognition by the Constitutional Court that ANT conforms to the Kyrgyz Constitution on June 2, 2009

K U M T O R

Agreement on New Terms

September 2009 14

K U M T O R

Kumtor: New Agreement

Major Terms

• Stable, simplified tax regime

• Expanded mining concession

• Centerra to issue 18.2 million shares to Kyrgyz Government

• Cameco to transfer up to 25.3 million shares

• Upfront payment of $22.4 million

• An additional independent director Nominated

14

September 2009 15

N E W A G R E E M E N T:

Share and Ownership Profile

• Symbol CG on the TSX

• 234.8 million outstanding shares reflecting new agreement

Oringal CG Ownership

Kyrgyzaltyn16%

Cameco53%

Public Shareholders

31%

New CG Ownership

Public shareholders

29%

Kyrgyzaltyn33%

Cameco38%

September 2009 16

K U M T O R

Untapped Exploration Potential

• Expanded mining concession

• Area of 26,300 hectares

Decline Portal

September 2009 17

K U M T O R

Significant Potential for Reserve Expansion

Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

Holes Drilled Prior to 2009Soviet Drill Holes

Decline in Progress

Holes Drilled in 2009Holes Drilled Prior to 2009Soviet Drill Holes

Proposed Holes

Holes in Progress

Holes Drilled in 2009Holes Drilled Prior to 2009Soviet Drill Holes

September 2009 18

K U M T O R

Central Pit Area

KS9 Final Pit

SB Underground High-Grade Zone1.6M oz Inferred

Stockwork Underground Zone

0.8M oz InferredApprox. 1 kilometre

Portal

SB Underground Development

Stockwork

Underground

Development


Approx. 1.5 kilometre

2nd Portal

September 2009 19

K U M T O R

SB Underground Development

Stockwork Underground

Zone

KS9 Final Pit

>30km Underground Drilling

Approximately 2km

Underground Development

Development to Date


Exploration drilling commenced June 09

September 2009 20

K U M T O R

Stockwork Underground Development

SB Zone

KS9 Final Pit

>20km Underground

Drilling

StockworkUnderground

Zone

Approximately 2km Underground Development

D1320

D132220.6g/t / 22.1m

incl 32.6g/t / 13.2m

11.1g/t / 20.3mincl 16.2g/t / 13.4m


2nd Portal - 3Q09

September 2009 21

K U M T O R

SB Zone SW Extension

KS9 Final Pit

SB Zone

16.0g/t / 3.7m

3.4g/t / 2.5m

GD1259

4.7g/t / 1.9m

2.6g/t / 5.1m

2.1g/t / 14.0m

5.0g/t / 11.0mincl 9.9g/t / 4.0m

Ian Atkinson is the Qualified Person for purposes of NI 43-101please see Centerra’s AIF and technical reports filed on SEDAR.

September 2009 22

4400

m

4000

3800

3400

4200

3600

NE

32003200

SW

4200

3600

3800

4000

4400

3400

m

PETROV GLACIER

NORTHEASTAREA

LYSIIAREA

LYSYI GLACIER

"NB" zone

"North"

"Stockwork"

CENTRAL PIT

"South"Waste dump

"SB" zoneDesign Decline

DAVIDOV GLACIER

SOUTHW ESTPIT

SARYTORAREA

SARYTOR GLACIER

BORDOOAREA

BORDOO GLACIERVALLEY

AKBELAREA

WEST-BORDOO GLACIERVALLEY

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROV G

LACIER

PETROVPETROVPETROVPETROVPETROVPETROVPETROVPETROVPETROV

NORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEASTNORTHEAST

PETROVLAKE

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

LYSIY GLA

CIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DAVIDOV GLACIER

DECLINEDECLINEDECLINEDECLINEDECLINEDECLINEDECLINEDECLINEDECLINEPORTALPORTALPORTALPORTALPORTALPORTALPORTALPORTALPORTAL

DAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOVDAVIDOV

DESIGN DECLINEDESIGN DECLINEDESIGN DECLINEDESIGN DECLINEDESIGN DECLINEDESIGN DECLINEDESIGN DECLINEDESIGN DECLINEDESIGN DECLINE

MUZDUSOOMUZDUSOOMUZDUSOOMUZDUSOOMUZDUSOOMUZDUSOOMUZDUSOOMUZDUSOOMUZDUSOO

MILLMILLMILLMILLMILLMILLMILLMILLMILL

%%%%%%%%%

SARYTO

R GLA

CIERSAR

YTOR G

LACIER

SARYTO

R GLA

CIERSAR

YTOR G

LACIER

SARYTO

R GLA

CIERSAR

YTOR G

LACIER

SARYTO

R GLA

CIERSAR

YTOR G

LACIER

SARYTO

R GLA

CIERSAR

YTOR G

LACIER

W ASTEW ASTEW ASTEW ASTEW ASTEW ASTEW ASTEW ASTEW ASTEDUMPDUMPDUMPDUMPDUMPDUMPDUMPDUMPDUMP

SOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTSOUTHWESTPITPITPITPITPITPITPITPITPITPIT

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

BORD

OO GLAC

IER

WEST-BO

RD

WEST-BO

RW

EST-BOR

WEST-BO

RD

WEST-BO

RW

EST-BOR

DW

EST-BOR

WEST-BO

RW

EST-BOR

SARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORSARYTORDESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN

PITPITPITPITPITPITPITPITPITPIT

ADMINISTRATIONADMINISTRATIONADMINISTRATIONADMINISTRATIONADMINISTRATIONADMINISTRATIONADMINISTRATIONADMINISTRATIONADMINISTRATIONAND MAINTENANCEAND MAINTENANCEAND MAINTENANCEAND MAINTENANCEAND MAINTENANCEAND MAINTENANCEAND MAINTENANCEAND MAINTENANCEAND MAINTENANCE

AREAAREAAREAAREAAREAAREAAREAAREAAREA &&&&&&&&&

BORDOOBORDOOBORDOOBORDOOBORDOOBORDOOBORDOOBORDOOBORDOO

AKBELAKBELAKBELAKBELAKBELAKBELAKBELAKBELAKBEL

WASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMPWASTE DUMP

CENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PITCENTRAL PIT

1 2

kilometres0

K U M T O R

Exploration Targets

Longitudinal Section Through Kumtor License Area

Longitudinal Section LineLongitudinal Section Line

16 kilometres

PHASE 2 DECLINE

September 2009 23

Boroo

2008

• 193,000 oz. gold

• Cash costs $382/oz

Two Solid Growth Platforms

• Financial resources • Operating expertise • Track record

Kumtor

2008

• 556,000 oz. gold


September 2009 24

Mongolia Update

Actions• Windfall Profit Tax repealed as of Jan. 2011

• Resolved license suspension

• Advancing discussions on Gatsuurt Investment Agreement

• Q2 Started for road construction

Strategy• Expand processing options

• Develop ten years of production for mill

24

September 2009 25

M O N G O L I A

Large Land Package, Next Development Gatsuurt

• Gatsuurt development– 55 km road from Boroo– Initial oxide production

by mid- 2010

• Current Reserves (000’s oz)– Boroo 778– Gatsuurt 1,005

1,783

• Current M&I Resources – 849,000 ounces

• Current Inferred Resources– 489,000 ounces

• Land package– 130,000 hectares


September 2009 26

0000000000000000000000000

kilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometreskilometres

250250250250250250250250250250250250250250250250250250250250250250250250250 500500500500500500500500500500500500500500500500500500500500500500500500500

UzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistanUzbekistan

IndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaIndiaPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistanPakistan

ChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChinaChina

TurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistanTurkmenistan

AfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistanAfghanistan

RussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussiaRussia

KazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstan

nianianianianiaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaoniaKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstanKyrgyzstan

IranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIranIran

SyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyriaSyria

MoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldovaMoldova

RomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomania

BulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgaria

AzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanAzerbaijanArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmeniaArmenia

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CyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprusCyprus

GeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgiaGeorgia

Gaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza StripGaza Strip

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JordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordanJordan

KuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwait

LebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanonLebanon

LithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuania

TajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistanTajikistan

TurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkey

UkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraineUkraine

West BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest BankWest Bank

Asia – Significant Exploration Potential

Copler6 M oz

Kisladag8 M oz

Ovacik1 M oz

Efemcukuru2 M oz

Vasilkovskoe11 M oz Bakyrchik

13 M oz

Muruntau180 M oz

Amantaytau3.5 M oz

Daugyztau6 M oz

Kochbulak3 M ozJilau

3 M ozZarmitan

8 M oz

Kuru-Tegerek2 M oz

Jerooy3 M oz

Axi2.2 M ozTaldybulak Lev.

5 M oz

Kumtor19 M oz

OksutSTI JV

ArtvinKefi JV

ElmaliEMX JV

AkarcaEMX JV

26

Varvarinskoye5 M oz

September 2009 27

Exploration Initiatives

• Tonopah Divide – Nevada, USA

• Elmali/Akarca (EMX) – Turkey

• Artvin (KEFI) – Turkey

• Oksut (Stratex) - Turkey

• Kara Beldyr – Tyva Republic, Russia

• Illichy – Amur Oblast, Russia

September 2009 28

Agenda



T h e f u t u r e

September 2009 29

Our Focus is Clearly on Growth

1. Secure the current assets

2. Maximize existing operations

3. Expand our exploration

4. Acquisitions or JV’s

September 2009 30

Expanding Our Project Pipeline

Kumtor – Open Pit

Boroo – Oxide Mill

Kara-Beldyr (Russia)

Tonopah (Nevada)

Artvin (Turkey)

Akarca/Elmali (Turkey)

Gatsuurt - Oxide

Kumtor – SB Underground

Kumtor – Stockwork Underground

Gatsuurt – Bio-Oxidation

Boroo – Heap Leach

Exploration Feasibility Development Operations

Kumtor – Regional

Mongolia – Regional

Oksut (Turkey)

Illichy (Russia)

September 2009 31

Priorities for 2009

• Kumtor– resolved issues– expand exploration– accelerate underground

development

• Boroo/Gatsuurt– Investment Agreement– complete road/oxide

development– build bio-oxidation

circuit

• Investment– increase regional

exploration– pursue acquisitions

September 2009 32

I N S U M M A R Y

Centerra: The Future is Bright

2008 results – demonstrate strong performance record

Financially strong – an advantage today

Operations – advancing on all fronts

Growth – more aggressive stance

Current low valuation – opportunity

Appendix

September 2009 35

Price Volume History Since Jan 09

TD & UBS issue BUYReports on speculationof a Kumtor deal

September 2009 36

Share and Ownership Profile

Institutional OwnershipGeographic Breakdown

Other1%

US28%

Europe67%

Canada4%

Centerra Ownership

Institutional20%

Insiders72%

Retail8%

(20 million shares)

(46 million shares)

September 2009 37

Providing Social and Economic Support

Kyrgyz Republic

• 96% of employees are Kyrgyz nationals

• Issyk-Kul region set up an agro engineering centre and projects to improve pasture management, vegetable production and processing

• Established a micro crediting agency

• Increase local fish stocks and encourage fishing industries

• Biodiversity conservation to improve the Sary-Chat Ertash National Wildlife Park

Mongolia

• 94% of employees are Mongolian nationals

• Partners in the World Vision Sprinkles program to improve the health of Mongolian children

– Eg. Vitamin D additives to combat Rickets

• Community development programs– Centre for traditional medicine– Small/family business loan program– Agricultural Educational Centre– Community Centre & Hospital

improvement projects

September 2009 38

2008 Highlights

Gold production (‘000 oz) 749 555

Average realized gold price ($/oz) $853 $691

Revenues $636M $374M

Earnings before unusual items $97M $39M

Net Earnings (loss) after unusual items $135M ($93)M

Cash from operations $166M $41M

2008 2007

Please refer to 2008 Annual Report, MDA and AIF for the periods ending December 31, 2008 and 2007 and Caution Regarding Forward-Looking Information.

September 2009 39

Reserves and Resources

5.8

4.4

7.0

IPO 04 05 06 07 08

Reserves(M oz)

M+I Resources(M oz)

Inferred Resources(M oz)

4.9

5.8

2.6

IPO 04 05 06 07 08

3.12.8

1.7

IPO 04 05 06 07 08

Year-end Year-end Year-end

Reserves and resources as at December 31-100%. Resources do not include reserves. Ian Atkinson is the Qualified Person for NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

September 2009 40

K U M T O R

High-Potential Exploration 4M oz Proven & Probable Reserves


September 2009 41

K U M T O R

High-Potential Exploration 4M oz Proven & Probable Reserves

Bordoo Target (5 km)

Sarytor Pit (4 km)

Stockwork Underground


SB Zone

NE Target (3 km)

Petrov Target (5 km)

Akbel Target (8 km)

Central Pit

September 2009 42

K U M T O R

Underground Development

Phase 2 Decline

September 2009 43

Gatsuurt – Pending Development

• 100% owned by Centerra

• 35 km east of Boroo mine

• Feasibility study completed

• Reserves and resources registered with Government

• Development subject to investment agreement

• Reserves: 1.0 M contained ounces (9.1Mt @ 3.4 g Au/t)

• Resources(1): 0.6 M contained ounces(6.2 Mt @ 3.0 g Au/t)

• Production at Boroo facility

• Subject to 3% NSR

• Capital cost to build about $75 million

Reserves and resources as at December 31, 2008. Resources do not include reserves. Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see AIF and technical reports filed on SEDAR.(1) Measured and Indicated

EXPANSION

September 2009 44

Gatsuurt Project Pit Designs

September 2009 45

YEROOGOL

TREN

D

Mongolia – Exploration 2009Mongolia – Exploration 2009

Khuder: Drilling, Trenching & Geophysics

Yeroogol Trend: Target

Definition

Yalbag: Trenching & Drilling

Shiver: Trenching

Gatsuurt: Drilling, Trenching,

Geophysics & Geochemistry

Bukh Uul: Limestone Resource

Confirmation

Ulaan Bulag: Resource

Delineation

Boroo:Target

Definition

Mining License

Exploration License

September 2009 46

Turkey - Four Joint Venture Projects

Joint Venture Project200 kilometres

Elmali - EMX

Akarca - EMX

Artvin - Kefi

PONTIDES

ANATOLIDES

ARABIAN PLATFORM

CENTRALANATOLIANCOMPLEX

ISTANBUL

TERRANE

Copler

Kisladag

Ovacik

Istanbul

ANKARA

Oksut - STI

September 2009 47

Russia Joint Ventures

KazakhstanKazakhstan

ChinaChina

MongoliaMongolia

RussiaRussia

KyrgyzstanKyrgyzstan

Known Au Mines/Deposits

BorooBoroo

KumtorKumtor

IllichyIllichy

AmurTyva

Kara BeldyrKara Beldyr

September 2009 48

Kara Beldyr – Q1 Shallow Drilling, Au in Soil

EG Zone

Conglomerate Zone

170 holes, 1,597 m

2000 metres

September 2009 49

Nevada: JV Tonopah

Centerra Property

Carlin-type Deposit Trend

Centerra Property

Reno

Elko

100 miles

100 kilometres

Las Vegas

Carlin

Getchell

Independence

BattleMtn-

Eureka

NEVADA

Hice

Cortez

REN

Redrock

TonopahDivide

September 2009 50

Tonopah Divide Project

C.I.=2 nTColors nT

ULTRALIGHT AEROMAG SURVEY

RTP Mag Intensity

september 2009 - amazon s3 · september 2009 3 caution regarding forward-looking information this...

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