1. The document discusses a European gold royalty company that owns the royalty rights to the Rosebel gold mine in Suriname, which provides it with significant cash flow from gold production.
2. The company was originally formed in 1993 and has expanded its royalty holdings, with the Rosebel royalty as its crown jewel asset due to the mine's large reserves and long mine life under reputable operator IAMGOLD.
3. The company has a experienced management team with expertise in mining finance and a business strategy of acquiring additional gold royalties to diversify its portfolio and generate further cash flow.
1. A European Gold Royalty Company November 2008 Business and Strategy
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11. 2. A cash generating business Rosebel Royalty - A cash generative asset Last hedging Hedge settlements No hedge Royalties Cash in Cash out - $2.2MM - $5MM +$1MM +$3MM +$10MM Net Cash No hedge Today Loan repayments No loan 100% royalty cash flow Source EURO consolidated financial statements … 2007 Q1 Q2 Q3 Q4 2008 Q1 Q2 Q3 Q4 2009 Q1 Q2 Q3 Q4 2010… Q1 Q2 Q3 Q4
12. 2. A cash generating business The Rosebel gold royalty: increasing royalty cash-flow… History of the Rosebel royalty revenue in Euro and US dollars USD/EUR 0.82 0.83 0.65 0.74 0.70 0.76 0.75 0.74 0.74 0.68 0.63 0.63 $ ‘000 0.78 0.83 0.85 0.77 0.74 0.81 0.83 Source Press releases EURO, Quarterly reports EURO
13. 2. A cash generating business Gold production by quarter vs. average gold price … benefiting from higher gold prices ‘ 000 oz $ Source Press releases EURO
14. 2. A cash generating business oz Historic gold Hedging – a « dehedging » story (1/2) Remaining Hedge position Hedging was required by Macquarie Bank to protect repayment of loan made for acquisition of Rosebel Source EURO consolidated financial statements, press releases
15. 2. A cash generating business k€ Historic royalties revenue vs. gold hedge cash costs Historic gold Hedging – a « dehedging » story (2/2) Source EURO consolidated financial statements
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18. 5. Appendix Asset structure Rosebel (Incorporated in Canada) 95% 5% 10% Rosebel Royalty on 100% production SOTRAPMAG 100% « P.E.R » Concessions Rosebel Royalty Payments 100% Potential royalty income 100% Paul Isnard ( Republic of Suriname )
19. The Rosebel gold mine property 5. Appendix Source IAMGOLD Denver Presentation Forum (September 9, 2008)
20. Detailed P&L over the last semester 2007 - HY1 2008 P&L statement 5. Appendix Source EURO consolidated financial statements
21. Detailed P&L over the last 9 months 5. Appendix 9 months ended 2007-2008 P&L statement Source EURO consolidated financial statements
22. Detailed Balance sheet Balance sheet as of 30/09/08 5. Appendix Source EURO consolidated financial statements
![Contents ,[object Object],[object Object],[object Object],[object Object],[object Object],FORWARD LOOKING STATEMENTS This presentation contains certain “forward-looking” statements regarding the Company’s overall objectives and strategic plans, mineral interests and outlook. Forward-looking statements express, as at the date of this presentation, the Company’s plans, estimates, forecasts, projections or beliefs as to future events or results. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company’s control and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update any forward-looking statement that is contained in this presentation.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)