Evolution Mining Limited · ASX:EVN
Evolution Mining — BAML 2020 Global Metals, Mining and Steel Conference
16 slides from Evolution Mining's conference presentation, May 13, 2020
Slide 1: Premier global mid-tier gold company
Inspired people creating a For personal use only premier global mid-tier gold company BAML 2020 GLOBAL METALS, MINING AND STEEL CONFERENCE 13 MAY 2020 LAWRIE CONWAY – FINANCE DIRECTOR AND CFO
Slide 2: Forward Looking Statement
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 For personal use only forward looking words such as “may”, “will”, “expect
Slide 3: Evolution Snapshot
(1) Based on share price of A$5.51 per share on 11 May 2020 (2) Average daily share turnover for one month through to 11 May 2020 (3) As at 23 April 2020. Bank debt of A$570 million less cash of A$240 million EVOLUTION SNAPSHOT (4) Excludes Red Lake. Further information can be found on our website,
Slide 4: Clear and Consistent Strategy
CLEAR AND CONSISTENT STRATEGY A portfolio of 6 to 8 assets generating superior returns with For personal use only an average mine life of at least 10 years Build a reputation for sustainability, reliability and transparency Embed financial discipline across the business An active pipeline of quality
Slide 5: People and COVID-19 Approach
PEOPLE COVID-19 ▪ Driven by our values of safety, excellence, accountability and respect APPROACH ▪ Continued discipline with health and safety practices ▪ Sound reporting culture For personal use only ▪ No Evolution employee or contractor has tested positive to COVID-19 STRUCTURE ▪ No material impa
Slide 6: March 2020 Quarter Highlights
MARCH 2020 QUARTER HIGHLIGHTS For personal use only Sector leading cash Consistent Value accretive flow per ounce operational delivery growth ▪ Mine operating cash flow ▪ No material impact from ▪ Red Lake transformation A$257.4M COVID-19 ▪ Cowal underground ▪ Net mine cash flow ▪ Gold production 16
Slide 7: Group Cash Flow
GROUP CASH FLOW 300 299 FY20 YTD Mine Cash Flow (A$M) 900 769 800 250 For personal use only 197 700 200 ◼ Current liquidity A$600M 600 500 150 ◼ Cash A$240M(1) 400 86 100 78 176 188 63 300 ◼ Undrawn revolver A$360M 46 511 200 50 73 57 27 100 ◼ Since July 2015 - -10 Cowal Ernest Henry Mt Carlton Mung
Slide 8: Red Lake Update
RED LAKE UPDATE For personal use only 2020 monthly development metres Executing turnaround plan to transform Red Lake into a cornerstone asset within three years 860 755 Objective: 635 Annual production >200koz 597 AISC <US$1,000/oz January February March April Leadership team Development metres Oxy
Slide 9: Red Lake Drilling
RED LAKE DRILLING For personal use only Cochenour Shaft Reid Shaft #3 Shaft Surface UPPER RED CAMPBELL LAKE -1000mbs Cochenour drilling area High Speed Tram (HST) March 2020 quarter drill results Cochenour -2000mbs 6.6m (4.9m etw) grading 17.0g/t Au 3.3m (2.7m etw) grading 11.4g/t Au Twin Otter 6.7m
Slide 10: Cowal
COWAL E46 Open Pit For personal use only ▪ Sustainable, reliable, low cost asset ▪ Production objective >300koz p.a. E42 Open Pit GRE46 Dalwhinnie ▪ Float Tails Leach circuit Underground ▪ Plant expansion ▪ 2.5Moz underground resource E41 Open Pits ▪ Underground mine Pre-Feasibility Study Cowal Dece
Slide 11: GRE46 Dalwhinnie Underground
GRE46 DALWHINNIE UNDERGROUND For personal use only ◼ GRE46 Dalwhinnie underground resource Cowal GRE46 Dalwhinnie underground increased by 77% from 1.4Moz to 2.5Moz Mineral Resource increased by 77% to 2.5Moz ◼ Maiden underground Ore Reserve to be declared in CY2020 ◼ Mineralisation remains open at
Slide 12: Ernest Henry
ERNEST HENRY For personal use only ▪ History of reliable operational delivery ▪ Evolution’s interest generated free cash flow of A$188M in the nine months to March 2020 ◼ Early addition of three new sub-levels to reserves ◼ 18,000m drill program planned for 2020 calendar year targets extensions to r
Slide 13: Mungari
MUNGARI For personal use only ▪ Record net mine cash flow in March 2020 quarter of A$32M (FY20 YTD: A$73M) ▪ Discovery of Boomer to extend life of high grade underground mine ▪ 10-year base load production platform ▪ Plant throughput increased to 2.0Mtpa ▪ Studies ongoing to optimise the Life of Min
Slide 14: Queensland Operations
QUEENSLAND OPERATIONS For personal use only FY20 GUIDANCE MT CARLTON CRACOW MT RAWDON Gold production 70 – 75koz 82.5 – 87.5koz 80 – 85koz A$1,150 – A$1,200 – A$1,490 – AISC A$1,225/oz A$1,250/oz A$1,540/oz QUEENSLAND EXPLORATION Drummond Exploration Project (Evolution earning 80%) ▪ Early-stage epi
Slide 15: Summary
SUMMARY For personal use only Sector leading cash Consistent Value accretive flow per ounce operational delivery growth Strong track record of shareholder value creation
Slide 16: For personal use only
For personal use only Evolution MIINTINE
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