Slide 1: AGM Presentation
For personal use only AGM Presentation 24 November 2016
Slide 2: Forward looking statements
Forward looking statements These materials prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward For personal use only looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “exp
Slide 3: Production target
Production target Production target FY17 – FY19 For personal use only Production AISC Sustaining capital Major project capital Period (koz) (A$/oz) (A$/M) (A$M) FY17 800 – 860 900 – 960 90 – 120 105 – 130 FY18 820 – 880 840 – 900 80 – 110 110 – 215 FY19 830 – 890 830 – 900 75 – 105 75 – 210 Material
Slide 4: Company Overview
For personal use only Company Overview Lawrie Conway Finance Director and CFO
Slide 5: Evolution Mining overview
Evolution Mining overview ASX code EVN For personal use only Shares outstanding 1,676M Market capitalisation1 A$3,436M Average daily share turnover2 A$20M Net debt3 A$660M Forward sales4 643,238oz at A$1,628/oz Dividend policy 4% of revenue Major shareholders La Mancha 29%, Van Eck 7% Group attribut
Slide 6: Improving asset quality
Improving asset quality (Gold price of A$1,650/oz less FY17F AISC guidance)(1) For personal use only $1,750 Bubble size represents FY17F Maintaining 6-8 mine strategy, production guidance(1) recycling capital and delivering long 5,6 Ernest $1,500 term, high margin growth Current indicative AISC marg
Slide 7: Expanding margins
Expanding margins For personal use only Group EBITDA Margin (%) FY14 33% FY15 40% FY16 46% FY16 Site EBITDA Margin (%) 59% 58% 55% 49% 48% 47% 11% Cowal Mungari Ernest Henry* Mt Carlton Mt Rawdon Cracow Edna May Recent acquisitions Developed by Original operating assets Evolution * Ernest Henry pro
Slide 8: Delivering results
Delivering results For personal use only Group AISC1,2 (per ounce) Operating Mine Cash Flow (A$M) US$1,259 A$1,228 A$1,083 A$1,036 A$1,014 US$995 628 US$867 US$739 306 245 168 FY13 FY14 FY15 FY16 FY13 FY14 FY15 FY16 1. All-in Sustaining Costs (AISC) reflects C1 cash cost plus royalty expenses, susta
Slide 9: Outlook
Outlook For personal use only Production (koz) AISC (A$/oz) 1,400 880 890 1,200 860 1,000 960 900 900 800 600 803 800 820 830 1,036 1,014 900 400 840 830 438 200 - FY15A FY16A FY17 FY18 FY19 FY15A FY16A FY17 FY18 FY19 Production actual Production Low Production High AISC actual AISC Low AISC High Gr
Slide 10: Business Development
For personal use only Business Development Aaron Colleran VP Business Development and Investor Relations
Slide 11: The journey so far
The journey so far May 2010 November 2011 May 2015 August 2016 For personal use only Management team Merger of equals between Acquisition of Cowal gold Divestment of appointed to Conquest Conquest and Catalpa to mine from Barrick Gold Pajingo Mining. Single asset: Mt form Evolution. Addition of Mt C
Slide 12: M&A strategy
M&A strategy For personal use only Understand the risks - chase the opportunity Build capacity using stepping stone transactions Improve the quality of the portfolio Value accretive, opportunistic and logical acquisitions 12
Slide 13: Operations
For personal use only Operations Mark Le Messurier Chief Operating Officer
Slide 14: Safety
Safety For personal use only 35 30 25 Cowal and Mungari acquisitions 20 15 10 5 0 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Total recordable injury frequency rate (TRIFR) Significent safety occurrence Frequency rate (SSOFR) Notes: * Mungari and Cowal data has been added t
Slide 15: Asset overview
Asset overview Cowal (100%) Ernest Henry (5)(6) (Evolution economic interest) For personal use only Gold Reserves (Moz)(1) 2.85 Reserves (Moz)(7) 1.0Moz Au, 184Kt Cu Gold Resources (Moz)(1) 5.05 Resources (Moz)(7) 1.4Moz Au, 431Kt Cu Reserve Grade (Au g/t)(1) 0.9 Darwin Reserve Grade (Au g/t)(7) 0.5
Slide 16: Discovery
For personal use only Discovery Glen Masterman VP Discovery and Chief Geologist
Slide 17: Cowal
Cowal Growth For personal use only Ore Reserves increased from 1.56Moz to 2.85Moz (+83%) under Evolution ownership1 Expansion of E42 pit prioritised Stage H resource definition drill program complete Further step out drilling testing mineralisation in Stage I and beyond now underway Update
Slide 18: Mungari
Mungari Growth For personal use only ~880 km2 land position in a world-class terrane with historic production of >10Moz gold Zuleika North Potential for the discovery of new high-grade (49koz) Ora Banda (312koz) underground resources Current drill program focussed on >1Moz Johnson’s Rest and B
Slide 19: Mt Carlton
Mt Carlton Growth For personal use only Significant potential to extend mine life by adding to reserves below current V2 pit Current focus on infill drilling into West and Link zones to define extent of high grade mineralisation Assessing a range of open pit extension or underground mining opt
Slide 20: Tennant Creek JV
Tennant Creek JV For personal use only Farm-in and Joint Venture with Emmerson Resources Tennant Creek Mineral Field is one of Australia’s highest grade gold and copper fields with historical production of 5.5Moz Au and 470kt Cu Evolution has spent A$10.4M towards the A$15.0M Stage 1 earn-in i
Slide 21: Inspired People
For personal use only Inspired People Paul Eagle VP People and Culture
Slide 22: Our people
Our people People are critical to our success For personal use only Evolution’s growing reputation has enabled us to acquire some excellent talent over the last 18 months Overall turnover has reduced to 15.5% (from 30.0% in 2013) We have a highly engaged and capable workforce and we’re creat
Slide 23: Community Relations
For personal use only Community Relations Evan Elstein Company Secretary and VP IT & Community Relations
Slide 24: Partnerships and community spirit
Partnerships and community spirit For personal use only Shared Value Listening to our Partnership Sharing the Projects Community Approach Economic Benefit Supporting Indigenous Community Education Community Spirit Partnerships Investment Outcomes 24
Slide 25: Strategy
For personal use only Strategy Jake Klein Executive Chairman
Slide 26: Executing a clear and sound strategy
Executing a clear and sound strategy Operating in Australia For personal use only First world jurisdiction Gold miners currently experiencing strong tailwinds Mid-tier 6 – 8 asset portfolio to ensure focus is maintained Driving down costs and improving productivity Low cost Upgrading the q
Slide 27: ASX code: EVN
For personal use only ASX code: EVN www.evolutionmining.com.au
Slide 28: Evolution Gold Ore Reserves Dec 2015
Evolution Gold Ore Reserves Dec 2015 Gold Proved Probable Total Reserve For personal use only Gold Gold Gold Gold Gold Competent Tonnes Gold Grade Tonnes Tonnes Project Type Cut-Off Metal Grade Metal Grade Metal Person (Mt) (g/t) (Mt) (Mt) (koz) (g/t) (koz) (g/t) (koz) Cowal1 Open pit 0.4 39.93 0.71
Slide 29: Evolution Gold Mineral Resources Dec 2015
Evolution Gold Mineral Resources Dec 2015 Gold Measured Indicated Inferred Total Resource Competent Gold Metal Gold Grade Gold Metal Gold Grade Gold Metal Gold Grade Gold Metal For personal use only Project Type Cut-Off Tonnes (Mt) Gold Grade (g/t) Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) Person (koz) (g
Slide 30: Copper MROR 2015
Copper MROR 2015 December 2015 Copper Group Mineral Resources Statement For personal use only Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper Copper Copper Copper Competent Tonnes Copper Tonnes Tonnes Tonnes Person Project Type Cut-Off Metal Grade Metal Grade Metal Grad
Slide 31: Slide notes
Slide 15 notes For personal use only Source: Data sourced from Company reported figures and guidance where available. Location size denotes production for FY2016. Pro forma for sale of Pajingo announced on 16 August 2016, announcement available to view on www.asx.com.au. (1) This information is extr
Slide 32: Competent person
Competent person Competent Persons Statement For personal use only The information in this report that relates to Cowal exploration results is based on work compiled by Joseph Booth, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy and is a full-time employee
Slide 33: Cowal drill hole information
Cowal drill hole information Northing Easting RL Hole Depth Dip Azi From Interval1 Au Hole Hole Type MGA (m) MGA (m) AHD (m) (m) MGA MGA (m) (m) (g/t) For personal use only E42D1713D DDH 6277472.9 537489.74 212.081 840.69 -55 25 349 13 0.51 368 6 0.59 401 26 0.88 443 6 0.40 472 4 0.70 485 6 1.21 556
Slide 34: Cowal drill hole information
Cowal drill hole information Northing Easting RL AHD Hole Depth Dip Azi From Interval1 Au Hole Hole Type MGA (m) MGA (m) (m) (m) MGA MGA (m) (m) (g/t) For personal use only E42D1717B DDH 6277421.20 537575.01 211.92 820.33 -55 25 377 2 0.86 476 10 1.06 496 6 0.28 549 3 0.42 575 5 1.09 614 12 1.52 637
Slide 35: JORC Code 2012 Table - Cowal
JORC Code 2012 Table 1 - Cowal Section 1 Sampling Techniques and Data For personal use only Criteria Commentary Sampling techniques Reported holes consist of directional diamond core drilling. Diamond drill holes were positioned strategically to provide even spaced coverage, infill gaps in the exist
Slide 36: JORC Code 2012 Table - Cowal
JORC Code 2012 Table 1 - Cowal For personal use only Section 1 Sampling Techniques and Data Criteria Commentary Verification of sampling and assaying No dedicated twinning drilling has been conducted for this drill program. Cowal uses DataShed software system to maintain the database. Digital assay
Slide 37: JORC Code 2012 Table - Cowal
JORC Code 2012 Table 1 - Cowal For personal use only Section 2 Reporting of exploration results Criteria Commentary Mineral tenement and land tenure The Cowal Mine is located on the western side of Lake Cowal in central New South Wales, approximately 38 km north of West Wyalong and 350 km west of Sy