PERTH (miningweekly.com) – Australian gold miner Evolution Mining has reported record gold production for the three months to June 30, as well as for the full-year, as both the Edna May and Mt Carlton operations delivered strongly.
Gold production for the June quarter reached 113 821 oz, which was up from the 103 305 oz delivered in the previous quarter, while full-year gold production was up by 2.3% year-on-year to 437 570 oz.
The Edna May operation, in Western Australia, delivered an outstanding result during the full year, producing 89 766 oz, up 23% on the previous financial year and well above forecast production.
Edna May produced 22 283 oz of gold in the three months to June.
The Mt Carlton project, in Queensland, also delivered strong results for the full year, producing 77 658 oz of gold, which was also above the guidance of between 65 000 oz and 72 500 oz.
The mine produced 20 845 oz of gold in the June quarter.
The Mt Rawdon and Cracow mines, both in Queensland, performed within guidance. Mt Rawdon produced 102 162 oz of gold for the full-year and Cracow 9 064 oz.
For the quarter ended June, Cracow delivered 27 868 oz of gold, while Mt Rawdon produced 27 242 oz of gold.
Evolution on Tuesday said a focus on cost and productivity improvements continued during the 2015 financial year, which resulted in record low costs across the group.
Average C1 cash costs of A$711/oz for the year were 9% below that of 2014. The average was also below the bottom-end of the guidance of between A$750/oz and A$820/oz.
All-in sustaining costs for the full year improved by 4% on 2014, reaching A$1 036/oz, and were also below the bottom-end of the guidance of between A$1 050/oz and A$1 130/oz.
Evolution noted that using the average Australian/US dollar exchange rate for the June quarter, the company’s costs continued to decline relative to its global peers during 2015.
Meanwhile, for the quarter under review, the company’s operations delivered a record cash contribution of A$41.4-million, after all sustaining and major project capital expenditure (capex).
A total of A$43.2-million was spent during the quarter, with some A$77-million spent in the full year on sustaining costs and a further A$91.2-million on capex.