Evolution Mining FY24 Guidance Update
COWAL - CORNERSTONE ASSET
Evolution
MINING
June 2015
June 2023
Ore Reserves
1.6Moz
4.3Moz¹
Mineral Resources
3.4Moz
8.8Moz¹
Mine life
2024
2040
Cowal
Sydney
Plant capacity
7.2Mtpa
~9.0Mtpa
Sustainable, reliable, low-cost production
Gold production
1.7Moz³
Operating cash flow
Net cash flow²
$1.8B3
$841M3
Cowal Gold Production
227,105oz
275,000 +/- 5%
320,000 +/- 5%
Successfully delivered the major capital project –
Underground mine - on time, on budget and safely
■ Continued growth opportunities from higher
grade underground ore body which remains open
Open pit continuation project (OPC) provides a long-
term production base
Underground production supporting 15% increase to
320,000oz in FY24
■ Cowal now positioned to be a significant cash flow
generator post completion of major project spend
FY22
FY23*
FY24*
1. See the Appendix of this presentation for further information on Cowal's Mineral Resources and Ore Reserves as at December 2022
2. Post all capital and exploration
3. Cumulative as at 31 March 2023
1
Mungari
2
Ernest Henry
3
Red Lake
4
Cowal
24
24View entire presentation