Newcrest delivers strong FY22 performance as growth projects advance

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 19/08/2022 06:00
• Strong operating and financial performance supports final dividend1,2,3,4,5
o Statutory profit6 and Underlying profit7 of $872 million
o Cash flows from operating activities of $1,680 million
o Fully franked final dividend of US 20 cents per share
• Robust balance sheet and significant liquidity to fund growth
o Balance sheet remains well within financial policy targets, with net debt of $1.3 billion, leverage ratio of
0.6 times and a gearing ratio of 10.2%
o Significant liquidity with $2.4 billion in cash and committed undrawn bank facilities
• Advancing Newcrest’s global organic growth portfolio
o Red Chris Block Cave, Havieron Stage 1 and Lihir Phase 14A Feasibility Studies are well progressed,
with works advancing on all projects
o Cadia PC1-2 Feasibility Study is nearing completion and is expected to be released with the September
2022 quarterly report8
• Successful acquisition of the high grade, Tier 1 Brucejack mine in British Columbia, Canada9
o Immediate production and financial contribution with Brucejack delivering an EBITDA7 of $109 million and
free cash flow7 of $88 million in the four-month ownership period10
o Synergy expectations raised to C$20-30 million (~US$16-24 million) per annum with further opportunities
being pursued11
• Creating a brighter future for people through safe and responsible mining
o Zero fatalities and life-changing injuries in FY22
o Community Support Fund contributed to approximately 67 initiatives across the globe, with the Newcrest
Sustainability Fund now established to drive further social investments in FY23
o Respect@Work program continues with a dedicated team focused on actions to prevent and eliminate
any form of sexual assault and sexual harassment at Newcrest
Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said “Newcrest has delivered a strong
performance in FY22 with our operations producing just under two million ounces of gold at an All-In Sustaining Cost
of $1,043 per ounce. We were particularly pleased with our costs trending lower in the second half of the year, with
Cadia achieving its lowest ever annual All-In Sustaining Cost of negative $124 per ounce. Our balance sheet has
also remained extremely robust with significant liquidity available to support our growth aspirations.”
“Works have continued to advance across our global organic growth portfolio, with Cadia, Red Chris, Havieron and
Lihir all expected to reach key study milestones throughout FY23. Our track record of exploration success has also
continued at Brucejack, Red Chris and Havieron, with strong drilling results supporting our view of significant resource
growth potential.”
“We are very pleased to have a substantial and increasing exposure to copper, a critical metal of the future with a
positive long term outlook that will allow us to participate in the potential opportunities presented by a global shift to
decarbonisation.”
Newcrest Mining Limited – Level 8, 600 St Kilda Road, Melbourne, Victoria 3004 – www.newcrest.com 2
“In March 2022, we completed the acquisition of Pretium Resources, adding the high grade Brucejack mine to our
quality portfolio. We are now the leading gold miner in the Tier 1 jurisdiction of British Columbia, with global exposure
to six Tier 1 orebodies and a significant long-life advantage compared to our peers. Brucejack has generated
immediate production and cash flows for the Group and our three phase transformation program has already made
exciting progress with a number of initiatives underway to maximise the long-term potential of this asset and district.”
“We remain relentlessly focused on the safety and wellbeing of our workforce and the local communities in which we
operate. Pleasingly, we are now nearly seven years free of fatalities, which is a credit to our people and testament
to how far safety is embedded into our culture. We continue to make inroads into building a high performing, inclusive
and psychologically safe workplace, and remain steadfastly focused on eliminating sexual assault and sexual
harassment in our workplace. We’ve also continued to progress our sustainability agenda through the development
of our Group Net Zero Emissions Roadmap, which will outline the pathway for Newcrest to deliver its goal of net zero
carbon emissions by 2050. We are particularly proud of the care we have provided to many communities through the
Newcrest Community Support Fund and have a significant opportunity to drive strategic social investments with the
recently established Newcrest Sustainability Fund.”
“Newcrest remains committed to disciplined capital management and we are pleased to announce a fully franked
final dividend of 20 cents per share, bringing our total dividends for the 2022 financial year to 27.5 cents per share,
which exceeds the minimum payout targeted by our dividend policy.”
“We are delighted with the progress made against our Forging an Even Stronger Newcrest aspirations this year and
are well positioned for a very bright future, with our strong exploration and technical capabilities, a robust balance sheet, and a clear, well understood growth strategy”, said Mr Biswas.

Summary of Operating and Financial Results

see & read more on
https://www.newcrest.com/sites/default/files/2022-08/2220819_Newcrest%202022%20Full%20Year%20Results%20%E2%80%93%20Market%20Release_1.pdf



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL