JOHANNESBURG (miningweekly.com) – ASX-listed Evolution Mining has delivered 174 169 oz of gold in the first three months of the 2016 financial year.
All-in sustaining costs (AISC) came in at A$882/oz.
Attributable production from the Australia-based Cowal and Mungari mines, which were offloaded over the quarter, were 59 495 oz and 48 538 oz respectively, equating to a full-quarter production from Evolution’s seven operating assets of 216 693 oz.
“With the Cowal and Mungari transactions completed during the quarter, their significant impact on reducing group costs and increasing cash generation has been immediately evident,” the miner said in a statement on Friday.
The company maintained its attributable gold production guidance of between 730 000 oz and 810 000 oz at an AISC of between A$990/oz and A$1 060/oz for the full year.
Evolution ended the quarter with a cash balance of A$58.3-million.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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