PERTH (miningweekly.com) – Gold miner Evolution Mining said on Tuesday that it was evaluating the potential sale of its Edna May gold mine, in Western Australia, after receiving a “number of offers” from interested parties.
The ASX-listed company reported that it was determining whether the potential sale of the Edna May project was in the best interest of shareholders and stakeholders, with Evolution planning to progress the offers.
Evolution has previously stated that a key objective of the company is to increase the quality of its asset portfolio over time, which includes continuously evaluating a wide range of acquisition and divestment opportunities.
The Edna May mine achieved an earnings before interest, taxes, depreciation and amortisation margin of 18% during the 2017 financial year, producing 70 188 oz of gold, or some 8% of Evolution’s total gold production of 844 124 oz.
Evolution also owns the Cowal mine, in New South Wales, Mt Carlton, Mt Rawdon and Cracow, in Queensland, and Mungari, in Western Australia. The miner also holds an economic interest in Ernst Henry, in Queensland.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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