Evolution Mining expected to meet FY25 guidance, posts record cash flow
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The news: Gold and copper producer Evolution Mining has delivered full-year production and costs within the guidance range and posted record quarterly and annual cash flow.
The numbers: Evolution mining has reported full-year production of 751 kilo ounces of gold and 76 kilo tonnes of copper, which is within the guidance range. June quarter production was 182 kilo ounces of gold and 19 kilo tonnes of copper.
Full year all-in sustained cost is at the higher end of the guidance range, due to higher royalty costs from a higher than expected gold price.
Evolution also reported record quarterly and annual Group cash flow of $308 million and $787 million respectively. It reported record quarterly and annual operating mine cash flow of $697 million and $2,288 million respectively.
The midpoint of group capital guidance for FY26 is expected to be $200 million lower than the actual FY25.
The context: The miner met several key project milestones in FY25. This included the early commissioning of its Mungari mill expansion and board approval for the Cowal Open Pit Continuation Project.
New exploration results from Mungari, Western Australia indicate the presence of additional high grade gold reserves and results from Northparkes, New South Wales indicate the potential for shallow copper-rich mineralisation.
