Slide 1: Evolution Mining – BMO Global Metals and Mining Conference
For personal use only Evolution Mining BMO Global Metals and Mining Conference 1 March 2016 Jake Klein – Executive Chairman Lawrie Conway – Finance Director and CFO
Slide 2: Forward looking statement
For personal use only 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”, “expe
Slide 3: Evolution Mining overview
Evolution Mining overview ASX Code EVN For personal use only Shares outstanding 1,467M Market capitalisation1,2 US$1,920M Average daily share turnover US$15M Cash3 US$33M Debt3 US$347M Forward sales (Feb-16 to Jun-20) 837,817oz at A$1,619/oz Dividend policy (Six dividends declared since Feb-13) 2% o
Slide 4: Australian gold mining's renaissance
Australian gold mining’s renaissance 2015 Gold production by country Australia: For personal use only Gold production 2015E Rank Country World’s second largest gold producer (metric tonnes) 1 China 457 First world jurisdiction 2 Australia 277 Excellent operating environment 3 Russia 256 4 Un
Slide 5: Australia's 2nd largest gold miner
Australia’s 2nd largest gold miner Diversified, 100% owned portfolio providing: For personal use only consistent, reliable production attractive organic growth opportunities Bubble size denotes FY15 production Footnotes are provided on slide 19 of this presentation 5
Slide 6: Low cost production
Low cost production Declining cost base the result of: For personal use only upgraded asset quality cost reductions productivity gains Evolution is now in the lowest cost quartile of global producers AISC margin (A$/oz) 1,547 1,528 1,444 1,442 1,489 Gold price 1,429 1,303 1,070 1,067 1,035
Slide 7: We act like owners
We act like owners For personal use only Cheaper and longer life pastefill paddles Accessing additional ounces (Mungari) (Pajingo) Our operators in the Frog’s Leg underground pastefill Our team identified an opportunity to explore new ways to team halved the cost of the paddles required for safely a
Slide 8: Expanding EBITDA margins
Expanding EBITDA margins Group EBITDA margins continue to expand For personal use only Group EBITDA Margin 30-Jun-14 33% 40% 30-Jun-15 47% 31-Dec-15 Site EBITDA Margin 59% 59% 51% 53% 52% 47% 48% 48% 45% 42% 40% 41% 38% 33% 29% 29% 15% Cowal Mungari Mt Rawdon Edna May Cracow Pajingo Mt Carlton 30-
Slide 9: Strong cash flow momentum
Strong cash flow momentum Mine cash flow post all sustaining and major capital expenditure continues to show For personal use only strong positive momentum Cash generated primarily directed towards US$121 million in early debt repayments in the last six months FY16+ cash flow accelerating due
Slide 10: Cowal – A cornerstone asset
Cowal For personal use only A cornerstone asset One of Australia’s most attractive gold E46 open assets open FY16 attributable production guidance of open E46 East 225 – 240koz Au at AISC of US$580 – US$615/oz Hole E42 E46D3238 Strong cash generation of US$50 million 25m at 4.8g/t Au in first
Slide 11: Mungari – Large foothold in a world-class district
Mungari For personal use only Large foothold in a world-class district Located 20km directly west of Kalgoorlie Frog’s Leg underground gold mine White Foil open pit gold mine 1.6Mtpa Mungari CIL processing plant Relatively under-explored tenement package covering ~920 km2 in world-class Ka
Slide 12: Mt Carlton – Delivering exceptional results
Mt Carlton For personal use only Delivering exceptional results One of the highest grade open pit gold mines High-grade feeder trends in the world Developed by Evolution and commissioned in early 2013 V2 pit FY16 production guidance of 100 – 105 koz Au A39 at AISC of US$550 – US$585/oz pit Alu
Slide 13: Operations update
Operations update Edna May For personal use only Stage 2 cutback progressing as planned – higher gold grades anticipated in the June 2016 quarter Phase 1 development of the Edna May underground approved (US$11.6M) providing a platform for deeper drilling and mine life extension targeting an
Slide 14: Delivering on growth
Delivering on growth Old Evolution New Evolution For personal use only 63 Cowal 66 93 Mungari 93 233 Cracow Edna May 102 103 Mt Carlton 99 Mt Rawdon Pajingo 78 128 86 90 FY15A production (koz) FY16E production guidance midpoint (koz) Group production 770,000 – 820,000 392,920 427,703 437,570 302,842
Slide 15: 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 16: Evolution Mining
For personal use only Evolution Mining ASX Code: EVN www.evolutionmining.com.au
Slide 17: Evolution Mineral Resources – December 2014
Evolution Mineral Resources Dec 2014 Evolution Mineral Resources – December 2014 Gold Measured Indicated Inferred Total Resource For personal use only Gold Gold Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Tonnes Project Type Cut-Off Grade Metal Grade Metal Grade Metal Grade Metal (Mt) (Mt) (M
Slide 18: Evolution Ore Reserves – December 2014
Evolution Ore Reserves Dec 2014 For personal use only Evolution Ore Reserves – December 2014 Gold Proved Probable Total Reserve Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Project Type Cut-Off Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz) (g/t) (koz) Cowal1 Open p
Slide 19: Footnotes
For personal use only Footnotes 1. This information is extracted from the report entitled “Annual Mineral Resources and Ore Reserve Statement 2014” released to ASX on 14 May 2015 and is available to view on www.evolutionmining.com.au 2. This information is extracted from the report entitled “Evoluti