Evolution Mining Limited (EVN) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Evolution Mining Limited March 2026 quarter results. All participants are in a listen only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Laurie Conway, Managing Director and Chief Executive Officer. Please go ahead. Thank you, Ashley, and good morning, everyone. I'm joined on the call today by Matt O'Neill, our Chief Operating Officer, Glenn Masterman, our VP Discovery, Fran Summerhays, our CFO, and Peter Rockey-O'Connor, our GM Investor. Today, we released our March quarterly report and an exploration update, which will be the reference points for the call. A key milestone and highlight for the quarter was the transition to a net cash position on the back of another very good quarter. After generating $406 million in group cash flow at just under $2,500 per ounce, we are now in a net cash position of over $40 million. Our cash balance at the end of the quarter was $1.37 billion and we have no debt repayments until FY29. The rapid deleveraging, where we have moved from over 30% gearing to net cash in just over two years, is a reflection of Evolution's high margin portfolio consistently delivering to ensure the benefits of the high metal price environment are banked. To put this into perspective, we have removed around $1.7 billion of net at average achieved gold and copper prices that were $2,100 per ounce at $3,200 per tonne below current spot prices, while still investing in high-grade projects and paying dividends to our shareholders. We are on track to generate approximately $3.6 billion of operating mine cash flow in ...