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Evolution's production helps drive debt repayments

By: Esmarie Swanepoel     8th April 2016 Gold miner Evolution Mining has reported record gold production during the three months to March, allowing the company to reduce its debt by about A$80-million. Gold production for the March quarter reached 208 963 oz, which was up from the 203 700 oz of the previous quarter, resulting in... 

Evolution takes Phoenix board

By: Esmarie Swanepoel     18th December 2015 ASX-listed Evolution Mining’s executive chairperson and CFO have been appointed to the board of takeover target Phoenix Gold, after Evolution’s takeover of Phoenix breached the 90% acceptance point. Evolution earlier this week announced that it had gained a 90.03% shareholding in Phoenix,... 

Evolution doubles profits

By: Esmarie Swanepoel     27th August 2015 Australian gold producer Evolution Mining has more than doubled its underlying net profit for the financial year ended June, as the company’s focus on cost reduction and improved efficiencies paid off. Underlying net profit for the year reached a record A$106.1-million, compared with the... 

Evolution adds ounces at Cowal

By: Esmarie Swanepoel     26th August 2015 Gold miner Evolution Mining has reported a 40% increase in the ore reserve at its recently acquired Cowal mine, in New South Wales. Evolution on Wednesday released an ore reserve estimate of 72.58-million tonnes, grading 0.93 g/t gold for 2.18-million ounces of contained gold. This was up by some... 

Evolution seeks to outbid Zijin to acquire Phoenix

By: Esmarie Swanepoel     20th August 2015 Australian gold miner Evolution Mining has launched a counter takeover offer for fellow-listed Phoenix Gold, giving shareholders in that company an alternative to the Zijin Mining offer. Evolution, which currently holds a 19.8% stake in Phoenix, was offering 0.06 of its own shares, along with 6c... 

Evolution not averse to buying more assets

By: Esmarie Swanepoel     4th August 2015 Australia’s second-largest gold miner Evolution Mining will continue to evaluate potential acquisitions in Australia, with executive chairperson Jake Klein saying that the company could also potentially look at opportunities outside Australia. The gold miner recently wrapped up a $550-million buy... 

Evolution completes Cowal buy

By: Esmarie Swanepoel     24th July 2015 Gold miner Evolution Mining has completed the acquisition of the Cowal gold mine, in New South Wales. The miner announced on Friday that all the conditions precedent to the $550-million buy-out has now been satisfied or waived by vendor Barrick Gold. 

Bookbuild shows ‘strong support’ for Cowal acquisition – Evolution chair

By: Esmarie Swanepoel     29th May 2015 Gold miner Evolution Mining on Friday completed the institutional component of its accelerated renounceable entitlement offer, raising A$172-million to assist in funding the acquisition of the Cowal mine, in New South Wales. The institutional entitlement offer formed part of the larger... 

Evolution pays $550m for Barrick mine in NSW

By: Esmarie Swanepoel     25th May 2015 Gold miner Evolution Mining on Monday announced that it would spend $550-million to acquire the Cowal gold mine, in New South Wales, from fellow Barrick Gold. Evolution executive chairperson Jake Klein described the acquisition as a “transformational” transaction for the company, pointing out... 

Evolution gains more ground in WA

By: Esmarie Swanepoel     1st May 2015 ASX-listed gold miner Evolution Mining has inked yet another transaction to expand its gold footprint, this time acquiring a 19.9% shareholding in fellow-listed Phoenix Gold. Evolution on Friday told shareholders that the company had reached a agreement with Phoenix to subscribe for up to... 

Evolution acquires La Mancha’s Australian mines

By: Esmarie Swanepoel     20th April 2015 Gold miner Evolution Mining on Monday announced that it had entered into a binding agreement with private gold miner La Mancha to acquire all of that company’s Australian operations. The combination of the two companies would result in La Mancha becoming Evolution’s largest shareholder and... 

Evolution narrows debt

By: Esmarie Swanepoel     8th April 2015 Australian gold miner Evolution Mining has repaid some A$35-million in debt during the March quarter, reducing its total debt by around 28%, to A$91.8-million. The miner told shareholders on Wednesday that cash balance at the end of the March quarter was reported at A$32.5-million, after... 

Evolution profit jumps 22% on costs savings, record output

By: Esmarie Swanepoel     18th February 2015 Gold miner Evolution Mining has reported a 22% year-on-year increase in net profit for the six months ended December, despite a lower average gold price. During the interim period under review, Evolution reported a net profit of A$43.1-million, with revenue from gold, silver and copper sales... 

Evolution swings to A$50m profit on higher output

By: Esmarie Swanepoel     28th August 2014 Gold major Evolution Mining swung to a profit in the financial year ended June 30, on the back of a 9% increase in gold production and reduced capital expenditure. Evolution reported profit of A$50-million, compared with a net loss of A$307.4-million in the previous financial year. The miner... 

Suitable assets not easy to find, says Evolution chair

By: Esmarie Swanepoel     5th August 2014 Despite the notion that high value assets were available for purchase, given the current market conditions, Australian gold miner Evolution Mining on Tuesday inferred that it was finding it difficult to secure a suitable asset. “We have looked at projects that we can afford, but don’t like, and... 

Evolution breaks production records in full year

By: Esmarie Swanepoel     4th July 2014 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... 

Evolution vows to dig deeper for gold

By: Esmarie Swanepoel     25th June 2014 Australian gold miner Evolution Mining said on Wednesday that would more than double its exploration push in 2015, compared with the exploration undertaken in 2014. The miner said about 80 000 m would be drilled at the company’s exploration properties within the next year, up from the 31 875 m... 

Evolution keen to explore in Tennant Creek

By: Esmarie Swanepoel     12th June 2014 Gold miner Evolution Mining has entered into a farm-in and joint venture (JV) agreement with fellow-listed Emmerson Resources over the Tennant Creek mineral field, in the Northern Territory, in a deal valued at up to A$28.87-million. Under the terms of the JV transaction, Evolution would earn an... 

Evolution on track to meet FY guidance, may consider Edna May divestment

By: Esmarie Swanepoel     17th April 2014 Gold miner Evolution Mining has reported a solid quarter of production, and remains on track to reach its full-year production target of between 400 000 oz and 450 000 oz of gold. During the March quarter, Evolution delivered 101 408 oz of gold equivalent, which was slightly below the 107 201 oz... 

Falling gold price chomps on Evolution profits

By: Esmarie Swanepoel     21st February 2014 Mid-tier gold miner Evolution Mining on Friday reported a 13% decline in net profits for the interim period ending December, as the miner faced a falling gold price. During the six months under review, net profits decreased to A$35.4-million, while earnings before interest, tax, depreciation and... 

Evolution hedges its bets at Edna May

By: Esmarie Swanepoel     2nd September 2013 Gold miner Evolution Mining has forward sold 156 281 oz of gold, at an average price of A$1 598/oz to underwrite the capital programme at its Edna May mine, in Western Australia. The ASX-listed miner said on Monday that the objective of the gold hedge was to underpin the projected returns from... 

Evolution output jumps 40% but posts FY loss on impairment

By: Esmarie Swanepoel     30th August 2013 Gold miner Evolution Mining has reported a 29% year-on-year increase in revenue for the full year ended June, on the back of a 40% production increase. Evolution on Friday announced revenue of A$605-million, following production of 392 920 oz of gold.  

Evolution declares commercial production at Mt Carlton

By: Esmarie Swanepoel     18th July 2013 Gold miner Evolution Mining has declared commercial production at its Mt Carlton operation, in Queensland, following a successful commissioning period. The mine was officially opened in April this year, while production from the silver-rich A39 deposit started in March this year. Production... 

Evolution produces first concentrate at Mt Carlton

By: Esmarie Swanepoel     25th March 2013 Gold miner Evolution Mining has produced the first concentrate at its Mount Carlton gold-silver-copper mine, in north Queensland, following the commissioning of the 800 000 t/y plant. The miner said on Monday that the company would now focus on ramping-up the plant to full capacity, which would... 

Evolution triples interim profits

By: Esmarie Swanepoel     21st February 2013 Gold miner Evolution Mining nearly tripled its underlying net profit for the six months to December, as production and revenue for the interim period increased. Underlying net profit for the six months under review reached A$40.6-million, compared with the A$14.1-million reported in the previous... 

Evolution posts A$37m profit, warns of Mt Carlton cost pressures

By: Esmarie Swanepoel     30th August 2012 ASX-listed Evolution Mining has reported a maiden net after-tax profit of A$37.3-million for the 12 months to June, following a merger between gold miners Catalpa Resources and Conquest Mining. “We formed Evolution only eight months ago, and yet we have been able to deliver strong underlying... 

Evolution to take advantage of consolidation market

By: Esmarie Swanepoel     6th August 2012 Gold miner Evolution Mining would continue to be on the lookout for possible acquisition opportunities, executive chairperson Jake Klein said on Monday. Speaking to Mining Weekly Online on the sidelines of the Diggers and Dealers conference, in Perth, Klein noted that while the company was... 

Evolution's June Q production up by 15%

By: Esmarie Swanepoel     13th July 2012 Gold miner Evolution Mining has reported a 15% increase in its June production, compared with the previous three months, with the Mount Rawdon and Cracow operations performing well. During the three months to June, Evolution produced 97 149 oz of gold at an average cash cost of less than... 


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