Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn
About

News

Evolution on track to meet FY guidance

AAP  |  30 Jan 2018Text size  Decrease  Increase  |  
Email to Friend

SYDNEY - [AAP] Gold miner Evolution (ASX: EVN) says it is on track to "comfortably" meet its full-year guidance, despite a fall in gold production in the December quarter after it sold a mine in Western Australia.

Gold production for the three months to December 31 fell to 186,488 ounces from 220,971 ounces in the September quarter--which included production from WA's Edna May mine.

All-in sustaining cost dropped to a record low of $784 an ounce from $786 an ounce in the prior quarter.

The company on Tuesday said its operating mine cash flow during the December quarter also fell to $204.7 million, down from $210.4 million in the September quarter.

Evolution in September flagged December quarter production to be lower than the September quarter, after it completed the sale of its Edna May mine to Ramelius Resources for up to $90 million.

The mine, which produced about eight per cent of the group's total gold output, had been the least profitable of its portfolio of seven gold mines.

Australia's second largest gold miner expects production for the full year to be above the midpoint of between 750,000 and 805,000 ounces, while all-in-sustaining cost (AISC) is forecast to be at or below the bottom end of between $820 and $870 per ounce.

Investing Compass
Listen to Morningstar Australia's Investing Compass podcast
Take a deep dive into investing concepts, with practical explanations to help you invest confidently.
Investing Compass

 

AAP logo image

© [2018] Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

This service is published for general information purposes only without assuming a duty of care. AAP is not in the business of providing financial product advice (whether personal or general advice), and gives no warranty, guarantee or other representation about the accuracy of the information or images contained in this service. AAP is not liable for errors, omissions in, delays or interruptions to or cessation of the services through negligence or otherwise. The globe symbol and "AAP" are registered trademarks.

provides Morningstar with market news.

AAP logo

© 2021 Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

This service is published for general information purposes only without assuming a duty of care. AAP is not in the business of providing financial product advice (whether personal or general advice), and gives no warranty, guarantee or other representation about the accuracy of the information or images contained in this service. AAP is not liable for errors, omissions in, delays or interruptions to or cessation of the services through negligence or otherwise. The globe symbol and "AAP" are registered trademarks.

Email To Friend