Record gold for Evolution

PERTH (miningweekly.com) – Gold miner Evolution Mining has reported record quarterly gold production during the three months to June, while hitting full-year production targets for the sixth consecutive year.

Gold production during the June quarter reached 218 079 oz, which was up from the 202 926 oz produced in the March quarter, with C1 cash costs down to A$567/oz, compared with the A$599/oz reported in the previous quarter.

All-in sustaining cost (AISC) was also down to a new quarterly record of A$825/oz, compared with the A$840/oz reported in the previous three months.

During the quarter under review, the Cowal mine, in New South Wales, delivered 62 382 oz of gold, while the Mungari operation, in Western Australia, contributed 29 965 oz. The Mt Carlton and Mt Rawdon operations, both in Queensland, delivered 28 270 oz and 25 808 oz of gold respectively, while the Cracow operation, also in Queensland, added 26 792 oz of gold.

Evolution also produced a further 21 108 oz of gold from the Edna May operation, in Western Australia.

Meanwhile, gold production for the full year reached 844 124 oz of gold, which was at the upper end of the guidance of between 800 000 oz and 860 000 oz, with Evolution telling shareholders the yearly production represented a new annual production record.

Five of the company’s seven operations exceeded the top-end of their production guidance for the full year, including Cowal, Ernest Henry, Mt Carlton, Mt Rawdon and Cracow.

AISC for the full year also declined by 11% on the previous financial year, to a record low of A$905/oz, which was at the bottom-end of the guidance of between A$900/oz and A$960/oz.