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Evolution meets September-quarter production target

28th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Evolution Mining, which owns and operates mines in Queensland and Western Australia, has produced 107 195 oz of gold in the September quarter, above its production guidance of 100 000 oz, driven by a strong performance from its Mt Carlton mine.

However, the quarterly output was lower than the 112 559 oz produced in the previous three months, as production declined at the Pajingo and Mt Rawdon mines.

During the quarter under review, the Cracow mine delivered 23 352 oz, which was on par with the 23 663 oz delivered in the June quarter, but the Pajingo mine’s production declined to 16 858 oz, from 23 367 oz. Evolution explained on Monday that  a shift in campaign milling and a reduction in grade, owing to the processing of lower-grade openpit ore stockpiles, had resulted in fewer tonnes treated.

Mt Rawdon’s output also declined to 28 213 oz, from 35 165 oz in the previous quarter.

The Edna May mine, its only operation in Western Australia, increased its production to 19 869 oz, from 18 671 oz in the June quarter.

The Mt Carlton operation delivered 18 904 oz gold and 230 878 oz of silver during its first quarter of production from the V2 gold deposit.

Evolution, which was formed through the 2011 merger of Catalpa Resources and Conquest Mining, is forecasting production of more than 100 000 gold-equivalent ounces for the December quarter, and maintained its full-year outlook of between 400 000 oz and 450 000 oz, at a cash operating cost of between A$770/oz and A$820/oz.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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