Company Overview

Detour Gold Corporation (TSX: DGC) is a Canadian intermediate gold producer. The Company owns and operates the Detour Lake mine, a long life large-scale open pit operation in the mining-friendly jurisdiction of northern Ontario. Currently, Detour Lake is the second largest gold producing mine in Canada with the largest gold reserves. Detour Gold is in a position to deliver superior returns with its growing cash flow profile, organic growth initiatives, and significant potential for further exploration discoveries on its large land package. The Company is dedicated to responsible mining and to the highest safety and environment standards while having a strong commitment to the communities we operate and live in.

Profile Synopses

Operating Highlights:

2014 HIGHLIGHTS Gold production of 456,634 ounces, achieving lower end of guidance ? Metal sales of $535.8 million on gold sales of 423,013 ounces at an average realized price of $1,264 per ounce ? 2014 total cash costs of $928 per gold ounce sold, at mid-point of guidance; fourth quarter total cash costs of $874 per gold ounce sold ? Exited 2014 at an average mill throughput rate of 54,310 tonnes per day and mining rate of 234,000 tonnes per day for December ? Cash and short-term investments balance of $135.3 million at December 31, 2014 ? Subsequent to year-end, closed bought deal financing for gross proceeds of $128.8 million (Cdn$161.9 million). Net proceeds were used to repay all outstanding indebtedness on the revolving credit facility and equipment finance leases, reducing long-term debt by approximately $124 million ? Proven and probable mineral reserves at year-end 2014 total 15.0 million ounces, a 4% decrease from the prior year due to mining depletion

Capital Structure:

On February 10, 2015, the Company closed a public offering on a bought deal basis of 11,000,000 common shares with an over-allotment option of 1,650,000 common shares at a price of $10.18 (Cdn$12.80) per common share. The gross proceeds to the Company were $128.8 million (Cdn$161.9 million). In connection with the offering the underwriters were paid a 4% commission totaling approximately $5.2 million (Cdn$6.5 million). The Company used the net proceeds to repay all outstanding indebtedness under its revolving credit facility and finance leases, reducing long-term debt by approximately $124 million.
Strategy:

Become a leading intermediate gold producer and premier investment opportunity while maintaining and promoting the highest standards for sustainability and accountability.
Guidance:

At the mid-point of the guidance, the Detour Lake operation is forecast to process approximately 19.7 million tonnes (Mt) of ore (approximately 54,000 tonnes per day (tpd)) at an average grade of 0.86 grams per tonne (g/t) gold and gold recovery of 91.5%, equivalent to approximately 500,000 gold ounces. Gold production is expected to gradually increase over the first three quarters, with the fourth quarter forecasted to be significantly higher due to access to higher grade ore during that period. Total cash costs are therefore expected to be relatively consistent within the first nine months of 2015, at approximately $900 per ounce sold, and decline to below $700 per ounce sold in the fourth quarter. This significant reduction reflects the higher gold production and the building of stockpile inventories in the fourth quarter. It is expected the run-of-mine stockpile will be 1.8 Mt averaging 0.8 g/t, or approximately 46,000 ounces of gold, at the end of 2015.

Profile

Name: Detour Gold
Area focus: Canada
Commodity Focus: Gold
Stage: Single Mine Producing
Company Type: Publically traded
Company Website: http://www.detourgold.com
MineLife Page: detour.minelife.org
Total Workforce (Contractors included): 0
Estimated # locally Employed: 0

Assets

Asset Status Mines/Projects Active Drills
Total Producing Mines: 1 0
Near mine exploration 1
Total Development Projects: 1 0
Fully permitted 1
Drilling 1
Total Exploration Projects: 0 0
Total Assets: 2 0

Mineral Reserve Reporting Standard: NI 43-101

Financial Activity

Show all Debt Equity

New Sources of Capital

Method Amount Raised (m) Final Close Notes
Share Issue - Common USD 128.800 10 Feb 2015
The Company used the net proceeds to repay all outstanding indebtedness under its revolving credit facility and finance leases, reducing long-term debt by approximately $124 million. On February 10, 2015, the Company closed a public offering on a bought deal basis of 11,000,000 common shares with an over-allotment option of 1,650,000 common shares at a price of $10.18 (Cdn$12.80) per common share. The gross proceeds to the Company were $128.8 million (Cdn$161.9 million). In connection with the o
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