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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Evolution Mining Limited    EVN   AU000000EVN4

EVOLUTION MINING LIMITED

(EVN)
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End-of-day quote. End-of-day quote Australian Stock Exchange - 01/19
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EVOLUTION MINING : PRELIMINARY SEPTEMBER QUARTER RESULTS

10/12/2020 | 11:08am EST

Evolution Mining Limited (ASX: EVN) ('Evolution') is pleased to provide a preliminary summary of its production, costs, and financial performance for the September 2020 quarter.

This summary is being released to coincide with the annual Diggers and Dealers Mining Forum which commences today in Kalgoorlie, Western Australia. Full activities for the September quarter will be released on Tuesday 27 October 2020.

Group summary

Gold production of 170,021 ounces

All-in Sustaining Cost (AISC)1 of A$1,198 per ounce (US$857/oz)2

All-in Cost (AIC)3 of A$1,663 per ounce at an AIC margin of A$871 per ounce

Operating mine cash flow of A$272.3 million

Net mine cash flow of A$183.4 million

Net bank debt of A$180.3 million (30 June 2020: A$196.4M) post FY20 final dividend of A$153.8 million

All the above metrics are tracking ahead of the FY21 plan. These results exclude any contribution from Cracow which was divested on 1 July 2020. Evolution also advises that a major milestone has been achieved for the Cowal underground mine development with the submission on 30 September 2020 of the Significant State Development (SSD) Application and the Modification 16 Development Application to the New South Wales Department of Planning, Industry and Environment. An Environmental Impact Study forms part of the SSD and will be on public display for a period of 60 days commencing in mid-October. The Feasibility Study for the Cowal underground mine is progressing in line with plan.

Commenting on these results, Evolution's Executive Chairman Jake Klein said: 'It's great to start the new financial year with continued positive momentum. Our operations are performing well and it is pleasing to be ahead of where we had planned to be at the end of the first quarter. Most importantly, the business continues to generate sector leading cash flow per ounce and our balance sheet remains strong with net debt reducing even after rewarding shareholders with their 15th consecutive dividend of A$153.8 million.'

'The submission for approval of the Cowal underground mine is another important step towards achieving our objective of producing 350,000 ounces per annum of low-cost gold from this cornerstone operation.'

This announcement has been authorised for release to the ASX by Executive Chairman, Jake Klein.

Contact:

Bryan O'Hara

Tel: +61 2 9696 2900

About Evolution Mining

Evolution Mining is a leading, growth-focused Australian gold miner. Evolution operates five wholly-owned mines - Cowal in New South Wales, Mungari in Western Australia, Mt Carlton and Mt Rawdon in Queensland, and Red Lake in Ontario, Canada. In addition, Evolution holds an economic interest in the Ernest Henry copper-gold mine in Queensland. Evolution is forecasting FY21 Group gold production of 670,000 - 730,000 ounces at an AISC of A$1,240 - A$1,300 per ounce.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 2 010 M 1 547 M 1 547 M
Net income 2021 466 M 359 M 359 M
Net Debt 2021 82,2 M 63,3 M 63,3 M
P/E ratio 2021 16,9x
Yield 2021 2,98%
Capitalization 7 843 M 6 026 M 6 039 M
EV / Sales 2021 3,94x
EV / Sales 2022 3,61x
Nbr of Employees -
Free-Float 98,4%
Chart EVOLUTION MINING LIMITED
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Evolution Mining Limited Technical Analysis Chart | EVN | AU000000EVN4 | MarketScreener
Technical analysis trends EVOLUTION MINING LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 5,31 AUD
Last Close Price 4,59 AUD
Spread / Highest target 52,5%
Spread / Average Target 15,7%
Spread / Lowest Target -4,14%
EPS Revisions
Managers and Directors
NameTitle
Jacob Klein Executive Chairman
Robert Fulker Chief Operating Officer
Lawrie Conway CFO, Finance Director & Executive Director
Evan Elstein Secretary, Vice President-IT & Community Relations
James Edward Askew Non-Executive Director
Sector and Competitors