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Evolution reports strong June quarter results

18th July 2024

By: Creamer Media Reporter

     

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Gold company Evolution Mining, which has assets in Australia and Canada, has started the 2025 financial year with impressive momentum, bolstered by a robust performance in the June quarter.

The Australia-headquartered gold miner achieved multiple operational records in the June quarter, reported MD and CEO Lawrie Conway on Thursday.

Quarterly cash flow surged by 171% to a record A$230-million, from A$85-million in the March quarter. Net mine cash flow was up 74% to A$242-million, or the equivalent of A$1 170/oz.

Evolution produced 14% more gold at 212 070 oz and its copper production was consistent at 20 318 t. All-in sustaining costs (AISC) reduced by 13% to A$1 275/oz.

For the full-year ended June, group cash flow came to A$367-million. The company produced 716 000 oz of gold and 67 862 t of copper at an AISC of A$1 477/oz.

“We had an outstanding June quarter with sector-leading cash generation and low costs which showcase the quality of our portfolio,” said Conway.

He noted that June was the strongest month of the quarter and that Evolution had built momentum moving in the new financial year.

“This result is credit to our team,” he said.

Evolution will release its full-year results and 2025 guidance on August 14.

Edited by Creamer Media Reporter

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