Operations –  Peru: Yanacocha

• Production began in 1993

• 2002 Equity Sales

  • 1.18 mm ounces at $125 cash cost 1

• 2002 Equity Reserves (at $300)

  • 16.7 mm ounces

• 2002 Equity NRM (at $325)

  • 56 mm tons @ 0.034 oz/ton (oxide)
  • 363 mm tons @ 0.023 oz/ton (sulfide)

• Project Pipeline

  • Corimayo
  • Cerro Quilish

• 2003 Forecast (Equity)

  • 1.3 million ounces at $120 cash cost 1

• For a reconciliation of total cash costs per ounce (a non-GAAP measure of performance) to costs applicable to sales calculated and presented under GAAP, please refer to the Supplemental Information attached.

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