“Value Creation” Exploration - Introduction
- ~US$14 Cost Per Reserve Ounce
- 41-year average cost of discovery
- Includes greenfields, regional and near-mine exploration
- Largest Land Position
- Over 60 million acres
- Yanacocha, Nevada, Tanami & Yandal gold belts
- 2002 Exploration Goal
- Replace reserves net of production
- ~9 million ounces