EVOLUTION MINING LIMITED ersonal use only
BMO Conference
28 February 2022
Inspired people creating a premier global gold company
FORWARD LOOKING STATEMENT
These materials prepared by Evolution Mining Limited (or "the Company") include forward looking statements. Often, but not always, forward looking statements onlycan generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance",
or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including
usextreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.
A though the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in
forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
This presentation has been approved for release by Evolution's Board of Directors.
AUD:USD exchange rate assumption of 0.725 used throughout this presentation unless stated otherwise.
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EVOLUTION SNAPSHOT
MARKET CAPITALISATION 1 | US$5.8B | |||||
PRO FORMA NET DEBT 2 | US$906M | Red Lake | ||||
GOLD MINERAL RESOURCES 3 | 29.6Moz | |||||
GOLD ORE RESERVES 3 | 10.3Moz | |||||
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FY22 PRODUCTION GUIDANCE | >670koz | |||||
FY22 AISC GUIDANCE 4 | < US$865/oz | |||||
OPERATING ASSETS | 5 | |||||
usePORTFOLIO MINE LIFE 5 | 14+ years | Ernest Henry | ||||
Van Eck | Mt Rawdon | |||||
MAJOR SHAREHOLDERS | Australian Super | |||||
BlackRock | ||||||
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Fidelity | ||||||
Mungari | Cowal | |||||
- Based on share price of A$4.34 per share on 22 February 2022
- Net debt as at 31 December 2021 adjusted for the initial payment to Glencore on 6 January 2022 to acquire Ernest Henry (US$580M)
- See the announcement titled "Annual Mineral Resources and Ore Reserves Statement as at 31 December 2021" released to the ASX on 16 February 2022 for details on Mineral Resources and Ore Reserves
4. | AISC is based on Gold price of US$1,600/oz (royalties) and Copper price of US$8,000/t (By-product credits) | 3 |
5. | Portfolio mine life refers to a production weighted average of asset mine lives |
CONSISTENT STRATEGY
Reserve Price Assumption (US$/oz)1,2
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Proven team
Return on capital drives investment decisions
Quality and margin over quantity
Act counter- cyclically to improve portfolio
1,160 | 1,200 | 1,200 | 1,200 | 1,250 | 1,250 | 1,250 | 1,270 | 1,300 | 1,300 | 1,300 | 1,350 | 1,450 | 1,500 | 1,500 | 1,500 | ||
1,050 | |||||||||||||||||
2022 AISC Guidance (US$/oz)2,3
963 | 1,030 | 1,050 | 1,060 | 1,080 | 1,080 | 1,106 | 1,160 | 1,180 | 1,215 | 1,325 | 1,350 | |||
775 | < 865 | 915 | ||||||||||||
1. | Reserve price based on latest Mineral Resource and Ore Reserve statement available as at 21 | |
February 2022, rounded to the nearest US$5 | ||
2. | AUD amounts converted to USD using an AUD/USD rate of 0.7250 | 4 |
3. | Mid point of latest guidance for either FY22 or CY22 (whichever applies) |
STRONG FOUNDATIONS
TIER 1 JURISDICTIONS | SUSTAINABILITY | BALANCE SHEET | ||
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Australia and Canada are amongst the highest rated countries based on the Fraser Institute and World Bank metrics
Evolution vs. peers World Bank
investment attractiveness1
91 88 86 77 73 71 67 65 60 59 40 29
- 'Net Zero' future commitment
- Shared value of health and safety
- Safeguard our social licence to operate
- Disciplined risk management
'Enviro' category improved from 6 to 1 and 'Social' category improved from 8 to 2 (year-on-year)
- Investment grade credit rating
- Average debt maturity of over 6 years
- Low interest cost with ~55% fixed at ~3%
- 18 consecutive dividends totaling US$724M
Cumulative Dividends (US$M)
684 724
531
5 | 15 | 31 | 63 | 124 | 216 | 333 |
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 H1
1. Investment attractiveness based on The World Bank's Ease of Doing Business Index of the asset location, weighted according to 22E production of each asset from Wood Mackenzie estimates.
Peers include Newcrest, Newmont, Barrick, Kinross, IAMGOLD, Agnico Eagle, Gold Fields, Eldorado, New Gold, Yamana and AngloGold | 5 |
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Evolution Mining Limited published this content on 27 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2022 22:01:09 UTC.
