EVOLUTION MINING LIMITED Lawrie Conway - Finance Director and CFO
Forward looking statement
These materials prepared by Evolution Mining Limited (or "the Company") include forward looking statements. Often, but not always, forward looking statements can 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 extreme 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.
Although 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.
All US dollar values in this presentation are calculated using an AUD:USD exchange rate of US$0.78 unless stated otherwise
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OverviewASX code | EVN |
Shares outstanding | 1,693M |
Market capitalisation(1) | A$4,060M / US$3,170M |
Average daily share turnover(2) | A$25M / US$20M |
Net debt(3) | A$399M / US$311M |
Forward sales(3) | 458,495oz at A$1,645/oz |
Dividend policy | Payout of 50% of after tax earnings |
Major shareholders | La Mancha 27%(4), Van Eck 10% |
Group gold production (koz)
US$1,259 A$1,228
Group AISC(5) (per ounce)
Operating cash flow (A$M)
844
803
427
438
393
A$1,083 US$995
A$1,036
US$867
A$1,014
707
628
306
245
A$907
FY13 FY14 FY15 FY16 FY17
(1) Based on share price of A$2.40 per share on 18 September 2017
US$739 US$684
FY13 FY14 FY15 FY16 FY17
(3) As at 30 June 2017
168
FY13 FY14 FY15 FY16 FY17
(5) US$ values calculated using average AUD:USD FX in respective
(2) Average daily share turnover for three months through to 18 September 2017
Relevant Interest
financial year 3
Diversified mid-tier gold miner1▪ Cowal (100%)
Gold Reserves 2016 (Moz)(1) 3.20
Gold Resources 2016 (Moz)(1) 5.04
Reserve Grade 2016 (Au g/t) 0.85
FY17A Au Production (koz) 263
FY17A AISC (A$/oz) 833
FY17 Net Mine Cash flow (A$M) 166
2▪ Mungari (100%)
Gold Reserves 2016 (Moz)(1) 0.60
5▪ Cracow (100%)
Gold Reserves 2016 (Moz)(1) 0.19
Gold Resources 2016 (Moz)(1) 0.52
Reserve Grade 2016 (Au g/t) 5.7
FY17A Au Production (koz) 89
▪ FY17A AISC (A$/oz) 1,123
FY17 Net Mine Cash flow (A$M) 41 6 3
Gold Resources 2016 (Moz)(1) 2.78
6 Ernest Henry
(Evolution economic interest)
Ore Reserves: 6.6Moz(3)
Reserve Grade 2016 (Au g/t) 2.2
FY17A Au Production (koz) 144
▪ FY17A AISC (A$/oz) 1,143
FY17 Net Mine Cash flow (A$M) 59
3▪ Mt Carlton (100%)
Reserves 2016(1) 0.96Moz Au, 182kt Cu
Resources 2016(1) 1.73Moz Au, 315kt Cu
Reserve Grade 2016 0.50g/t Au, 1.02% Cu
FY17A Au Production(2) (koz) 60
▪ FY17A AISC(2) (A$/oz) (361)
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Mineral Resources: 13.3Moz(3)
FY17 Gold Production 844koz 5
AISC A$907/oz (US$684/oz)(4)
Gold Reserves 2016 (Moz)(1) 0.73
Gold Resources 2016 (Moz)(1) 0.98
FY17 Net Mine Cash flow (A$M)
(2) 82 2
Edna May (100% - Divested(3))
1
Gold Reserves 2016 (Moz)(1)
Gold Resources 2016 (Moz)(1) Reserve Grade 2016 (Au g/t) FY17A Au Production (koz) FY17A AISC (A$/oz)
0.43
0.85
1.6
70
1,440
▪
Reserve Grade 2016 (Au g/t) 4.7
FY17A Au Production (koz) 105
FY17A AISC (A$/oz) 622
FY17 Net Mine Cash flow (A$M) 91
4▪ Mt Rawdon (100%)
Gold Reserves 2016 (Moz)(1) 0.87
Gold Resources 2016 (Moz)(1) 1.19
Reserve Grade 2016 (Au g/t) 0.8
FY17A Au Production (koz) 101
FY17A AISC (A$/oz) 873
FY17 Net Mine Cash flow (A$M) 36
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▪
▪
▪
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FY17 Net Mine Cash flow (A$M) (15)
This information is extracted from the report entitled "Annual Mineral Resources and Ore Reserve Statement" released by Evolution to ASX on 20 April 2017 and is available to view on www.asx.com.au Mineral Resources and Ore Reserves are depleted to 31 December 2016
Ernest Henry transaction completed 1 November 2016. Production and costs reflect 8 months of economic interest. Cash flow reflects 7 months of copper sales and 5 months of gold sales.
Location bubble size denotes FY17 gold production (annualised for Ernest Henry)
Assuming successful completion of Edna May sale announced 18 September 2017
Using the average FY17 AUD:USD exchange rate of 0.7546
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Evolution Mining Limited published this content on 25 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 September 2017 22:59:09 UTC.
Original documenthttps://evolutionmining.com.au/wp-content/uploads/2017/09/1717389.pdf
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