Path Forward and Prospective Exploration Areas
TSXV: ELVT OTCQX: EVGDF
OPERATING RESULTS
2022 A YEAR OF TRANSITION
ELEVATION
GOLD
Several key changes were implemented throughout 2022 to address operational
challenges which generated improved mine output in the second half of 2022
2022
Ore tonnes stacked (t)
Gold grade (g/t)
Gold production (oz)
Gold sold (oz)
Average realized gold price ($/oz)
Q1 2023
Q4 2022
698,351
738,478
2,976,281
0.43
0.53
0.45
7,889
9,183
31,094
8,078
9,060
31,666
$1,906
$1.732
$1,786
$1,407
$1,604
$1,660
$1,842
$1,803
$2,115
Cash costs per ounce sold ($/oz)
AISC per gold ounce sold ($/oz)
Revenue ($M)
$17.0
$17.1
$62.0
Mine operating income before depreciation & depletion ($M)
$4.0
$2.7
$2.4
Depreciation and depletion ($M)
($3.4)
($4.5)
($10.3)
Gain (loss) on revaluation of derivative liabilities ($M)
($1.6)
($5.2)
$8.1
Income (loss) for the period ($M)
($3.6)
($9.3)
($43.6)¹
(1) Includes $33.9M impairment of mineral properties
CO
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