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Evolution’s Klein expresses concern as young Australians shun mining as career option

By: Mariaan Webb     23rd November 2017 The mining industry has to pull together to make it an attractive career option for young people if the industry is to sustain itself, Evolution Mining chairperson Jake Klein said on Thursday, expressing concern about the low number of mining engineering enrolments and graduates at two Australian... 

Ramelius buys Edna May from Evolution for A$90m

By: Esmarie Swanepoel     18th September 2017 Gold miner Ramelius Resources has emerged as the victor in the bid for fellow-listed Evolution Mining’s Edna May mine, in Western Australia. Evolution last week told shareholders that the company was evaluating the sale of the Edna May gold mine, after receiving a number of offers from... 

Evolution swings from loss to record profit

By: Esmarie Swanepoel     17th August 2017 Gold miner Evolution Mining has reported record net profit of A$217.6-million for the 2017, compared with a net loss of A$24.3-million in 2016, on the back of higher sales revenues and lower group all-in sustaining costs (AISC). “In the 2017 financial year, we continue to deliver on our business... 

Mining needs more activist investors, top gold producer says

By: Bloomberg     8th August 2017 Mining companies could benefit from more investor activism in the wake of Elliott Management’s campaign for improved performance at BHP Billiton, according to Australia’s second-largest gold producer. The sector’s record of returns warrants closer scrutiny from shareholders, Evolution Mining... 

Cashed-up Australian gold miners set to take deals global

By: Bloomberg     4th August 2017 Australia’s top gold producers are set to take their $5-billion acquisition spree global to secure growth as domestic opportunities fade and bullion’s gains swell their cash piles. Companies including Evolution Mining and Northern Star Resources, Australia’s No. 2 and No. 3 producers, may be... 

Evolution approves Cowal life extension project

By: Esmarie Swanepoel     16th February 2017 Gold miner Evolution Mining has approved developments at its Cowal mine, in New South Wales, which will increase the mine life by eight years to 2032. The expansion project earlier this month received New South Wales regulatory approvals. 

NSW planning dept grants Evolution approval to expand Cowal mine

By: Esmarie Swanepoel     9th February 2017 Gold miner Evolution Mining has been granted regulatory approval from the New South Wales Department of Planning and Environment to extend the life of its Cowal gold mine by eight years to 2032. Evolution will increase the depth of the existing openpit by some 70 m to access additional ore, as... 

Gold tormented by mighty dollar as price sinks to nine-month low

By: Bloomberg     25th November 2016 Gold is being tormented by the mighty dollar, with the precious metal sinking to a nine-month low as the prospect for higher interest rates from the Federal Reserve next month and in 2017 lifts the US currency. Bullion for immediate delivery tumbled as much as 0.9% to $1,171.18/oz, the lowest... 

Evolution completes Ernest Henry buy

By: Esmarie Swanepoel     1st November 2016 Gold miner Evolution Mining has completed the acquisition of a stake in the Ernest Henry copper/gold mine, in Queensland. Evolution previously agreed to pay diversified miner Glencore A$880-million for a 30% stake in the operation, entitling the company to 100% of the gold production at the... 

Evolution buys project from Newcrest, reports Sept quarter production results

By: Esmarie Swanepoel     17th October 2016 Gold miner Evolution Mining has reported a slight decline in September quarter production and has announced the acquisition of a new project as a potential extension for its Cowal mine, in New South Wales. Production for the period under review reached 205 307 oz, compared with the 216 644 oz... 

Evolution to pay A$880m for stake in Glencore’s Ernest Henry

By: Mariaan Webb     24th August 2016 In line with its strategy to build a globally relevant, midtier Australian gold producer, Evolution Mining has moved to buy an economic stake in a large-scale, long-life copper/gold mine near Cloncurry, Queensland, for A$880-million. Evolution will buy a 30% economic stake in diversified miner... 

Evolution swings to FY loss on one-off costs, impairments

By: Mariaan Webb     17th August 2016 Gold miner Evolution Mining swung to a full-year loss of A$24.35-million in the year ended June 30, from a profit of A$100.12-million the previous year, after one-off acquisition costs, integration costs and impairments. Despite reporting a loss, executive chairperson Jake Klein reported on... 

Evolution sells Pajingo to Chinese for A$52m

By: Mariaan Webb     16th August 2016 Gold miner Evolution will sell the Pajingo gold mine and surrounding exploration tenements in North Queensland to an emerging Chinese miner for up to A$52-million, the ASX-listed company announced on Tuesday. Minjar Gold will pay A$42-million in cash upfront for the gold mine, which started... 

Iron-ore can offer lesson to booming gold sector, Resolute says

By: Bloomberg     2nd August 2016 Gold mining companies should learn about cost cutting from iron-ore producers to avoid relying on high prices and better prepare for any downturn, according to Resolute Mining Ltd. The five largest iron-ore exporters have cut the price they need to break even by half since 2013, according to... 

The 500 t of gold that show global rise in investor angst

By: Bloomberg     4th July 2016 Global gold holdings have expanded by more than 500 metric t since bottoming in January in a signal of investors’ rising concern about slowing growth, a Federal Reserve that’s probably on hold and the ructions caused by Britain’s vote to quit the European Union. Assets in bullion-backed... 

Evolution doubles dividend payout, provides three-year production guidance

By: Mariaan Webb     28th June 2016 Australia’s second-largest gold producer, Evolution Mining, on Tuesday announced that it would double its dividend payout on a strong long-term outlook. From the end of the 2016 financial year, the payout rate would double to 4% of revenue, which the company said compared well with midtier... 

Gold veteran says Brexit may mark start of ‘major bull market’

By: Bloomberg     28th June 2016 Gold may stand at the start of a major bull market should the UK’s Brexit vote prove to be a forerunner of greater political and financial instability around the world, according to Evolution Mining’s Jake Klein, a veteran of more than 20 years in the industry. With the rise in uncertainty,... 

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... 

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