Ann: Evolution Secures Full Ownership of Ernest Henry, page-18

@Exised

The bond is really outstanding, a huge vote of confidence - you don’t get an over-subscribed placement when the rate is only 3% unless your extremely confident of getting your cashola + interest back

plus there’s a hedge there for exchange rate. I remember PLS (lithium miner) a few years getting 20%! That was a worrying time

Re the copper credits if it contributed to lowering gold cost by $100A/Oz in 2022 (and almost double that in 2023), working on last years production figures of 700k ish Oz gold production they’d make an extra $70M in the first year, $140M in the next, slightly less in following years leading to a 5 year payback of whole acquisition (when also accounting for increasing gold production)

one thing I am still a little confused about they have $400M debt already (from memory)?

they say that acquisition cost $1B comes from bond of $200M and the rest from cash. But then next line, debt increases to $1.6B so not sure I’d describe that as coming from cash - what is the terms of this debt (the 400M already existing and the new $800M).

pretty new to EVN so appreciate your thoughts and those of others.