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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... 

Evolution increases resources at Edna May

By: Esmarie Swanepoel Gold miner Evolution Mining has reported a 70% increase at the underground resources of its Edna May project, in Western Australia. The underground mineral resource has now been increased to some 1.2-million tons, at 7 g/t gold for 270 000 oz of contained gold. 

Evolution meets guidance, McFadzean steps down

By: Esmarie Swanepoel ASX-listed Evolution Mining has reported gold production of 89 812 oz during the three months to December, following the successful merger between Catalpa Resources and Conquest Mining. In its first quarterly results report, the merged entity noted that the quarterly production was in line with... 

Mount Cartlon granted mining lease - Evolution

By: Esmarie Swanepoel The Queensland government has formally granted the mining lease for gold miner Evolution Mining’s Mount Carlton gold/silver/copper project. The mining lease has been granted for a period of 25 years. 

Shareholder thumbs up for Catalpa, Conquest merger

By: Esmarie Swanepoel The shareholders of ASX-listed miners Catalpa Resources and Conquest Mining on Friday approved the creation of Evolution Mining through a merger of equals. Shareholders of both companies also approved the concurrent purchase of the Cracow and Mount Rawdon gold projects, in Queensland, from gold... 

Company Announcement: Catalpa And Conquest Announce New Name – Evolution Mining Limited

Catalpa Resources Limited (ASX: CAH) (“Catalpa”) and Conquest Mining Limited (ASX: CQT) (“Conquest”) are pleased to announce Evolution Mining Limited (“Evolution Mining”) as the proposed name for the company created through the all scrip merger of equals of Catalpa and Conquest, and the... 

Merged Catalpa and Conquest entity to be named Evolution Mining

By: Esmarie Swanepoel The merger between gold miners Catalpa Resources and Conquest Mining was moving ahead, with Catalpa on Tuesday announcing that the merged entity would be known as Evolution Mining. The name Evolution Mining had been selected to embody the transformational nature of the transaction to create a... 

Conquest secures A$100m financing for Mount Carlton

By: Esmarie Swanepoel ASX-listed Conquest Mining has secured a A$100-million financing offer from Macquarie Bank to fund the construction of its Mount Carlton gold-silver-copper project, in Queensland. The financing package consists of a A$50-million project finance facility, a A$40-million bridge facility and a... 

Conquest hikes Pajingo gold resource, reserve

By: Esmarie Swanepoel ASX-listed Conquest Mining has increased the mineral resource at its Pajingo gold mine, in Queensland, by 69%, while ore reserves increased by 74%. The mineral resource for the Pajingo mine is now estimated at 676 000 oz, while total ore reserve has increased to 140 000 oz. 

Conquest to sell silver/copper concentrate to China’s Shandong

By: Esmarie Swanepoel ASX-listed Conquest Mining has signed an offtake agreement for the sale of silver/copper concentrate from its A39 deposit at the Mount Carlton project, in Queensland. The agreement was signed with China’s Shandong Humon Smelting Company, and was a life-of-mine contract for 60 000 t of... 

Qld approves Conquest’s environmental plan for Mt Carlton

By: Esmarie Swanepoel Queensland’s Environment and Resource Management department has approved Conquest Mining’s environmental plan for its Mount Carlton gold/silver/copper project, the ASX-listed company reported on Monday. Conquest said it was assisting the department in progressing the drafting of an Environmental... 

Merged Catalpa and Conquest to rank as a top-five Australian gold miner

By: Esmarie Swanepoel Gold miners Catalpa Resources and Conquest Mining on Wednesday came out of a trading halt to announce that the two companies had signed a binding transaction to merge. In a joint statement, the miners said that the merger would create a leading growth-focused Australian mid-cap gold producer,... 

Conquest ready to select financier for Mount Carlton project

By: Esmarie Swanepoel ASX-listed Conquest Mining on Thursday reported that the financing initiatives for the development of its Mount Carlton gold/silver/copper project, in Queensland, were progressing well. To date, the company has received indicative term sheets from a number of Australian and international banks... 

Conquest boosts Pajingo gold output by 76%

By: Esmarie Swanepoel ASX-listed Conquest Mining increased its gold production by 76% at the Pajingo mine, in Queensland, in the March quarter. Gold production at Pajingo jumped to 14 176 oz in the three months to March 31.  

Conquest shares surge on gold acquisition, A$1bn offtake news

By: Esmarie Swanepoel ASX-listed Conquest Mining on Thursday announced a strategic move in its quest for fellow-listed North Queensland Metals (NQM) and said in a separate announcement that it had signed a A$1-billion offtake agreement for the Mount Carlton gold/silver/copper project, in Queensland. The company’s... 

NQM forced to issue new Conquest target statement

By: Esmarie Swanepoel The Australian Takeovers Panel has ruled that North Queensland Metals (NQM) issue an amended target statement in relation to a bid by Conquest Mining, stating that “deficiencies” had been identified in the initial statement sent to shareholders. NQM directors have previously shown favour to a... 

Chinese interested in Mt Carlton product – Conquest

By: Esmarie Swanepoel Precious metals developer Conquest Mining has shortlisted six potential Chinese offtake parties for product from its Mount Carlton project in Queensland, it reported on Tuesday. The company said recent flotation work indicated that the gold/silver/copper project had the ability to produce a... 

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