trending Market Intelligence /marketintelligence/en/news-insights/trending/zT4Ai_5rmhNZzoNHshkymQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Evolution Mining posts record Q4, FY'16 gold output

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020

Evolution Mining posts record Q4, FY'16 gold output

EvolutionMining Ltd. booked a record group gold output of 216,644 ounces inthe June quarter, at an all-in sustaining cost of A$1,117 per ounce and C1 cashcost of A$732 per ounce.

Meanwhile, higher-than-estimated AISC was due to unplannedpurchase of land at Cowal, better-than-expected resource definition drillingmeters and opportunistic purchases of low-cost second-hand replacement equipmentfor MountRawdon and Mungari.

The company also reported a record operating mine cash flowof A$184.2 million, after all sustaining and major capital of A$119.5 million.

In the June quarter, Evolution made debt repayments totalingA$115.0 million, in addition to paying one-off acquisition costs of A$20.8million.

Group gold production for fiscal 2016 totaled a record803,476 ounces, representing an 84% year-over-year increase, following theacquisition of theCowal and Mungari operations this fiscal year.

Full financial year production met the mid-range of theupgraded guidance ofbetween 770,000 ounces and 820,000 ounces.

Fiscal year average C1 cash cost of A$722 per ounce waswithin the upgraded guidance range of between A$700 per ounce and A$740 per ounce, while the AISC of A$1,014per ounce also fell within the estimated improved guidance range of betweenA$970 per ounce and A$1,020 per ounce.

The company reported record operating mine cash flow ofA$628.4 million, and net mine cash flow of A$428.2 million, after sustaining CapExof A$107.0 million, and major CapEx of A$93.2 million in the correspondingperiod.   

Evolution is forecasting increased gold production from itsseven mines in the 2017 financial year of 800,000 ounces to 860,000 ounces atall-in sustaining costs of A$985 per ounce to A$1,045 per ounce.

The company expects to produce in excess of 800,000 ouncesannually at lower all-in sustaining costs for at least the next three years.

The company recently doubled its dividend payout to 4% of revenue asa result of increased confidence in its future cash generation.