for the three months ended 31 December 2022
MARTIN HORGAN, CEO, commented: “The fourth quarter performance represented a successful conclusion to the year.
Our operating team delivered on our 2022 guidance for both ounces and costs at Sukari, despite the impact of industrywide inflationary pressures. Even more importantly, we are proud to report a new safety record of over 8 million hours
worked without a lost time injury reflecting our focus on safety across the Company.
It was a busy fourth quarter - we commissioned the 36Mw Sukari solar plant, delivering immediate cost savings and
reductions in carbon emissions; we completed the Sukari underground expansion study confirming the ability to increase
mining rates by 30% from 2025; for the consecutive second year, we materially grew the Sukari reserves; and we signed a
US$150 million sustainability linked revolving credit facility providing greater flexibility to fund growth. Outside of Sukari, the
Doropo pre-feasibility study is on track for H1 2023, with work focused on assessing new potential capital and cost saving
opportunities, and on our earlier stage exploration blocks in Egypt, we have identified drill targets to be tested later this year.
During 2023, we look forward to further increasing gold production from Sukari year on year while continuing to manage
cost pressures, and progressing the multiple identified opportunities across our portfolio.”
HIGHLIGHTS
2022 guidance delivered
• New Group safety record achieved: the Company recorded no Lost Time Injuries (“LTI”) in the fourth quarter
(“Q4”) and Sukari has achieved a site record of eight million hours LTI free. The lost time injury frequency rate
(“LTIFR”) for the twelve months ended 31 December 2022 (“FY”) was 0.08 per one million hours worked,
representing an 83% improvement from the previous year
• Annual gold production of 440,974 oz in line with guidance: Q4 production of 109,564 ounces (“oz”), totalling
FY production of 440,974 oz
• Annual revenue of US$787 million: Q4 revenue of US$188 million, generated from gold sales of 108,441 oz at
an average realised gold price of US$1,735/oz sold; FY revenue of US$787 million, generated from gold sales of
438,638 oz at an average realised gold price of US$1,794/oz sold
• Costs delivered in line with guidance: Q4 cash costs of US$997/oz produced and AISC of US$1,445/oz sold;
FY cash costs of US$913/oz produced and AISC of US$1,399/oz
• Capital expenditure of US$224.3 million in line with guidance: Q4 spend of US$64.8 million with excellent
progress made on key capital projects including the commissioning of the 36Mw Sukari solar plant; paste plant
build remains on track for commissioning in H1 2024. FY capital expenditure (“capex”) of US$224.3 million including
underground transition to owner-operator, accelerated open pit waste stripping campaign and Sukari mining
concession exploration
• Geological focus delivers a second year of reserve growth at Sukari: total Measured and Indicated Mineral
Resources of 320 million tonnes (“Mt”) at 1.08 grams of gold per tonne (“g/t Au”) for 11.11Moz of contained gold,
reflecting a 13% increase in ounces (1.3Moz) after depletion, including Proven and Probable Reserves of 163Mt
at 1.1g/t Au for 6.0Moz, reflecting additions of 0.8Moz in the open pit and underground before depletion. Link to full
announcement here
• Confirmed Sukari underground expansion potential: increasing underground ore mining rates to 1.5Mt , which
is more than30% above current life of mine averages, driving future production growth from Sukari. Link to full
announcement here
• Upgrading the Doropo resource: total Indicated Resource of 51.2Mt at 1.52g/t Au for 2.52Moz of contained gold,
including a 22% increase in grade and significant exploration upside potential. Doropo pre-feasibility study (“PFS”)
well progressed. Additional work underway on the processing circuit assessing potential capital and operating
cost savings. PFS completion expected H1 2023. Link to full announcement here
• Secured US$150 million sustainability-linked revolving credit facility: the facility provides greater financial
capacity and flexibility to fund identified growth and enhancement opportunities across our portfolio. The
sustainability targets will track tangible progress in reducing the Company’s environmental footprint and
strengthening its social license to operate. Link to full announcement here
• Robust balance sheet: cash and liquid assets of US$156.6 million, as at 31 December 2022
2
• The Company will publish its audited full year 2022 financial results on 16 March 2023.

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