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Evolution acquires La Mancha’s Australian mines

By: Esmarie Swanepoel 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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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