We are pleased to report steady production and cost control from our Kounrad operation in Kazakhstan and a good start to ownership of our Sasa zinc and lead mine in Macedonia

Although we owned Sasa for only two months of 2017, our results already reflect this acquisition in our improved financial performance.

Dividends

16.5p

Significant returns to shareholders

2017 - 16.5p0%
2016 - 15.5p0%
2015 - 12.5p0%

EBITDA (adjusted)

$66.4m

+66% YoY, driven by improved copper price and Sasa acquisition

2017 - $66.4m0%
2016 - $39.9m0%
2015 - $34.9m0%

C1 CU CASH COST

$0.52/lb

continues to be well within the lowest industry quartile

2017 - $0.52/lb0%
2016 - $0.43/lb0%
2015 - $0.60/lb0%

Kounrad Production

14,103t

2017 Copper Production

Sasa Production

21,585t

2017 Zinc Production

Sasa Production

29,881t

2017 Lead Production

2017 Outlook

13 - 14,000t

Kounrad copper production guidance

2017 Outlook

21 - 23,000t

Sasa zinc production guidance

2017 Outlook

28 - 30,000t

Sasa lead production guidance

Employees

c.350

Employees in Kazakhstan

Employees

c.700

Employees in Macedonia

Kazakh Community

$1.5m

Social funding since 2012

LME Quality Product

99.998%

Copper cathode purity

Total CU Produced

68,426t

Since operations commenced in 2012

Total Returns

$129m

Including dividends and share buy backs

Financial Performance to Date

Total
(68 months)
2017
(Sasa 2 months)

2016

 

2015

 

2014

 

2013

 

2012
(8 months)
Kounrad production, Cu tonnes 68,425 14,103 14,020 12,071 11,136 10,509 6,586
Sasa paid production, Cu eq. tonnes 3,333 3,333
Group total, Cu eq. tonnes 71,758 17,436 14,020 12,071 11,136 10,509 6,586
Average Cu sale price, $/t 6,390 6,107 4,994 5,336 6,794 7,114 7,935
C1 cash cost, Cu eq. $/t 0.62 0.76* 0.43 0.60 0.62 0.66 0.63
Group revenue, $m 446.8 106.5 69.3 67.3 76.6 76.0 51.1
Group adjusted EBITDA, $m 268.4 66.4 39.9 34.9 47.3 48.1 31.8
Group adjusted EBITDA margin 60% 62% 58% 52% 62% 63% 62%
Dividend/share buy-back, $m 129.1 33.6 21.6 20.3 21.8 15.6 16.2