PERTH (miningweekly.com) – Gold miner Evolution Mining has reported another solid quarter, producing 200 218 oz during the three months to September.
The September quarterly production was slightly below the 202 254 oz produced in the June quarter.
Evolution on Monday reported that the Cowal mine, in New South Wales, produced 61 260 oz, while Mungari, in Western Australia, produced 35 120 oz.
In Queensland, the Mt Carlton operation produced 26 197 oz during the quarter, while Mt Rawdon produced 29 712 oz and Cracow a further 22 291 oz. The Ernest Henry mine added a further 25 638 oz of gold to production.
Evolution reported higher C1 cash costs for the September quarter, up from the A$499/oz in the June quarter, to A$594/oz, while all-in sustaining costs increased from A$846/oz to A$885/oz.
Meanwhile, gold sales for the quarter were also down slightly from the 208 239 oz sold in the June quarter, to 196 021 oz, with gold prices achieved down from the A$1 675/oz in the June quarter, to A$1 662/oz during the September quarter.
The miner said that deliveries into the hedge book totalled 37 500 oz, at an average price of A$1 681/oz, with the remaining 158 521 oz delivered on spot markets at an average price of A$1 657/oz.
Silver sales for the quarter reached 190 536 oz, while copper sales reached 5 912 t.
The Evolution board last week approved a A$60-million development of the Mt Carlton underground mine, with first ore slated for the 2021 financial year. The Mt Carlton operation has a mine life to at least 2025, and the underground development, along with the Stage 4 pit cut-back and relevant plant modifications, will allow Evolution to source production from the higher-grade Link zone earlier.
The miner previously also said that the expansion of its Cowal plant by 31%, from 7.5-million tonnes a year to 9.8-million tonnes a year, could be brought forward, after regulatory approvals for the expansion were obtained early in October.