https://www.miningweekly.com

Evolution ups gold output

24th July 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Australian gold major Evolution Mining has reported an increase in gold production during the June quarter, compared with the previous quarter, as nearly all of the miner’s operations increased production.

Gold production during the three months to June reached 194 886 oz, up from the 175 901 oz produced in the March quarter, bringing full year production to 753 001 oz.

Full-year production was well within the guidance of between 720 000 oz and 770 000 oz.

Silver production for the quarter was also reported at 184 693 oz, while copper production reached 5 648 t.

Production at the Cowal mine, in New South Wales, increased from 64 117 oz to 67 878 oz in the quarter under review, driven by increased throughput rates, while the Mungari mine, in Western Australia, increased production from 24 966 oz in the March quarter, to 30 457 oz, on the back of increased availability of high-grade ore.

In Queensland, the Mt Carlton mine increased production from 26 116 oz to 28 232 oz, while Mt Rawdon production increased from 20 124 oz to 24 404 oz in the same period. Evolution’s interest in the Ernest Henry project delivered 25 820 oz of gold, up from the 22 419 oz in the previous quarter, while production from Cracow remained relatively stable at 18 095 oz.

During the June quarter, Evolution sold 190 810 oz of gold at an average price of A$1 858/oz, with mine operating cash flows reported at A$215.2-million during the quarter, and net mine cash flow at A$152.2-million.

C1 cash costs for the period declined from A$681/oz to A$579/oz, while all-in sustaining costs (AISC) declined from A$925/oz to A$915/oz.

Looking ahead to the full 2020, Evolution has increased its expectations compared with 2019, with the miner expecting production to reach between 725 000 oz and 775 000 oz, with AISC to range between A$890/oz and A$940/oz.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.062 0.588s - 128pq - 2rq
Subscribe Now