Photo by: Bloomberg
PERTH (miningweekly.com) – Gold miner Evolution Mining has reported record gold production during the 2014 financial year, with the company meeting its production expectations.
During the financial year to June 30, Evolution produced 427 703 oz of gold equivalent, up 9% on the previous financial year, and within the targeted production range of 400 000 oz to 450 000 oz.
The Mt Carlton mine, in Queensland, out-produced expectations, delivering 87 952 oz during the full year, while the other Queensland mines - Cracow, Mt Rawdon and Pajingo - delivered 95 064, 10 775 oz and 60 776 oz, respectively. The Edna May mine, in Western Australia, delivered 80 165 oz of gold during the full year to June.
“Since inception in November 2011, Evolution has built a strong reputation for reliability and predictability. It is very pleasing to have again delivered a production result that is consistent with our original market guidance,” said Evolution executive chairperson Jake Klein.
He noted that the production was a testament to the benefits of a diverse portfolio of assets, which allowed Evolution to deliver a level of operational predictability that was not possible with single-asset companies.
Group production for the three months to June reached 11 899 oz gold equivalent, which exceeded guidance.