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Gold producer Evolution Mining above plan in the first fiscal quarter

The Australian gold producer Evolution Mining (WKN A1JNWA) reports emissions of 170,021 ounces of the yellow metal for the third quarter of 2020. That is a significant decrease from the 218,104 ounces of the June quarter, but according to the company it is above the planning for the fiscal year 2021.

The latest figures no longer include a contribution from the Cracow mine as it was sold in July.

Evolution also reports so-called all-in sustaining costs (AISC) of 857 dollars per ounce for the September quarter after 715 dollars per ounce in the previous quarter. The total costs (all-in costs) were accordingly A $ 1,663 per ounce in the quarter under review, resulting in an all-in margin of A $ 871 per ounce.

It is very gratifying that the new fiscal year is starting with a sustained positive development and that the first fiscal quarter is above plan, said Executive Chairman Jake Klein. It is particularly important that the operation continues to generate a leading cash flow per ounce for the sector and that Evolution’s balance sheet remains strong. The net debt has fallen, although a dividend (153.8 million AUD) has been paid out to shareholders for the fifteenth time in a row, Klein continued.

According to the company, mining operating cash flow was A $ 272.3 million for the quarter, while net mining cash flow was A $ 183.4 million. Evolution stated net bank debt at AUD 180.3 million after the final dividend was paid out.

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