Mungari (100% Ownership)

The Mungari gold operation is located 600km east of Perth and 20km west of Kalgoorlie in Western Australia. There are currently two registered native title claims over the
majority of the Mungari tenements – the Maduwongga People and the Marlinyu Ghoorlie People. Our local communities are Kalgoorlie and Coolgardie.

The operation is a key asset in Evolution’s portfolio and consists of
underground mining at Frog’s Leg, open pit mining at White Foil, a large regional tenement package hosting a total Mineral Resource of 2.5 million ounces, and a strategically located 1.6Mtpa nameplate processing plant.
Mungari managed to achieve a credible result in FY19 despite having to navigate through several significant unplanned events. Total FY19 gold production of 120,535 ounces was below the bottom end of the 125,000 –
135,000oz guidance range. The miss was predominantly due to a major seismic event in November 2018 which led to a redesign of the underground stope access to allow mining to continue safely. AISC of A$1,320/oz was above
guidance of A$1,050 – A$1,100/oz guidance. Full year net mine cash flow was A$35.8 million.

FY20 guidance: 115,000 – 125,000oz at an AISC of A$1,230 – A$1,280/oz. 

The operation has a major footprint in the world-class Kalgoorlie gold district with opportunities for high-grade discoveries to expand production and lower costs. The operation currently has a 10-year mine plan and work has
commenced to improve the cost position of this operation to deliver a long-term value by unlocking the large resources base most effectively.

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