• Underlying free cash flow1 of A$56M for the Quarter and A$311M for the year, bringing cash to A$510M along with investments of A$108M and debt of A$57M at 30 June 2020.
• Revenue and other income for the Group of A$231M and underlying EBITDA of A$113M, generating a Group EBITDA margin of 49%.
• Nova production for FY20 above guidance for all metals, at a cash cost of A$2.41 per payable pound of nickel. FY20 nickel production at 30,436t.
• Tropicana gold production was in line with the prior quarter at 102,007 ounces, with the FY20 full year gold production within guidance at 463,118 ounces.
• Tropicana Cash Costs and All-in Sustaining Costs for the Quarter were A$953 per ounce and A$1,440 per ounce respectively, with an EBITDA margin of 56%.
• Nova and Tropicana achieved underlying free cash flow of A$65M and A$15M for the Quarter and A$321M and A$85M for FY20, respectively.
• Strategic exploration joint venture and partnership agreements finalised with Metals X and Antipa, consolidating our belt scale land position in the Paterson Province.
• COVID-19 effectively managed through Quarter to safeguard our people and the community while maintaining business continuity. Although we have scaled back restrictions in line with State Government advice our response readiness remains at a
Peter Bradford, IGO’s Managing Director & CEO said:
“I am proud to report that despite the ongoing challenges presented by the COVID-19 pandemic, our teams have continued to deliver in a way that has shown resilience, professionalism and most of all, care for one
another. Our unique culture continues to be one of our greatest strengths and has been a key enabler for the strong operational and financial performance during the Quarter, and indeed the entire 2020 financial year.
“At Nova, full year production of all metals exceeded the top end of guidance for the second year in a row.
This was achieved within our guided cost range and has underpinned the generation of A$311M of free cash flow for shareholders over FY20.
“Tropicana performed consistently during the Quarter, resulting in a full year production result which was within guidance range. The focus for the AngloGold Ashanti team is on the successful commissioning of the
Boston Shaker Underground Mine, which is expected to reach commercial production in the September 2020 quarter.
“On the growth front, our exploration teams have been busy drill testing high priority targets in the Fraser Range and preparing a work program for the newly consolidated Paterson Project where we are targeting
Tier-1 copper discoveries. We maintain our strong conviction that our exploration strategy will deliver significant organic growth opportunities for shareholders and we look forward to what our FY21 program of
work will deliver.”