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Evolution Mining Provides Operations Update

10 Jan 2020  |  08:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Operations Update

Evolution Mining provided operations update. It ended the quarter debt free and with cash at bank of A$170.3m after repaying outstanding bank debt of A$275.0m. This is an increase of A$78.6m from the 30 September 2019 net cash position of A$91.7m. The commitment of bank debt facilities for completion of the Red Lake Gold Complex (Red Lake) acquisition remain in place. Drilling is expected to commence at the Crush Creek project, located 30 km south of Mt Carlton, during the June 2020 quarter with the aim of confirming and extending high-grade vein style mineralisation intersected in historic drilling.

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