JOHANNESBURG (miningweekly.com) – Gold miner Evolution Mining is considering selling its Pajingo gold mine, in Queensland, consistent with its strategy of improving the quality of its asset portfolio.
Evolution reported this week that it had received offers from third parties for the mine, which produced 68 630 oz in the 2016 financial year to the end of June.
Should the asset remain in Evolution’s asset portfolio, the company would write down the carrying value of the mine by between $70-million and $80-million in its 2016 financial accounts, which would be published on August 17.
Should Pajingo be sold, Evolution would record a loss on the sale of a similar amount.