Ann: Business Update - Cash Flow, Production and Costs, page-5

Fair to say the market anticipated the Gold production will be below the guidance notwithstanding EVN's silence.

Higher than anticipated price of Gold and Copper, Higher than anticipated copper production and the resulting impact on Cash Flow is somewhat of an offset if not a net positive considering the lower gold production was "baked in"

With the markets weakening there will a flight to safety and quality. EVN is cash generative business with exposure to defensive Gold and an in-demand copper by-product. A quality management team that has timed the last acquisition of North Parkes very well and diversification across assets and Geographies makes it an ideal candidate in my portfolio.

Markets will do what markets will do. I would be a buyer if this comes close to $3.5 although I don't see a high likelihood of that happening today.