Evolution Mining jumps after generating $406m in quarterly cashflow

The news: Shares in Evolution Mining rallied in afternoon trade after the gold producer reported a $42 million net cash position and generated $406 million in group cashflow in the March quarter.

The numbers: Shares had risen 7.66% to $14.20 at 12:23pm AEST.

The miner reported a cash balance of $1.3 billion, representing a $404 million increase, noting no debt payments due until FY29.

Total capital expenditure reached $227 million, supporting the advancements of key projects including the Cowal OPC, the Northparkes E22 Block cave, and the Coarse Particle Floatation Project.

The context: Evolution Mining attributed the strong cashflow to record quarterly production at its Mungari and Red Lake mines, as well as the absence of operational disruptions associated with the current fuel supply volatility during the period.