# EVN - Evolution Mining



## System (8 November 2011)

Evolution Mining Limited (EVN) was formerly known as Catalpa Resources Limited (CAH).

Previous discussion of this company can be found in the CAH thread: https://www.aussiestockforums.com/forums/showthread.php?t=16955


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## drillinto (14 December 2011)

December 13, 2011

"In The Footsteps Of Newcrest: Evolution Mining’s Path To Growth Looks Likely 
to Lead Into Asia"
By Chris Cann
www.minesite.com/aus.html (Free registration)

There has been much made of the need for consolidation in the junior gold sector in the past 18 months, in Australia no less than anywhere else. Looking ahead, the paucity of available finance would seem to dictate that further deals will be likely, and when they come, shareholders could do a lot worse than look in Evolution Mining’s direction for precedent. Evolution has recently emerged as a force on the ASX following the merger of Capalta Resources and Conquest Mining. 



The final stages of that deal, the retail portion of a A$152 million fundraising deal, have now completed, and the company has now set its sights firmly on the future. And for the time being, that looks to be less about production growth, and more about cost reduction.



“I don’t see a need to grow in scale”, Evolution executive chairman Jake Klein told Minesite. “I think intermediate scale at 400,000 ounces to 800,000 ounces of gold production is good and we’ve pretty much got there. But I do think there is a need to reduce our operating costs, which are currently about US$800 to US$850 per ounce. To me, the Holy Grail is getting to the lowest cost quartile, which means we have to improve the quality of the portfolio.” 



But there’s quality, and there’s quality. “The reality”, says Klein, “is that if you want to get down to that lower cost quartile you have to venture into areas you would consider geopolitically less attractive but geologically more attractive. Those areas are probably in Asia.”



Evolution’s portfolio now comprises a combination of Conquest’s and Capalta’s mining assets, along with a contribution from Newcrest, which held stakes in some of the projects, and now holds a 39 per cent stake in Evolution itself. The producing assets are Cracow, Mt Rawdon and Pajingo, all in Queensland, and Edna May in Western Australia. The Mt Carlton project, also in Queensland, is set to come online late next year. 



Production for the year to June 30th rang in at a little over 300,000 ounces but that should climb to between 410,000 ounces and 465,000 ounces in the year to June 2013, allowing for organic growth at the three producers, plus the new contribution from Mt Carlton. 



The addition of high grade ore from Mt Carlton will bring the group’s average cost per ounce down to between US$700 and US$750 but this is still midway along the cost curve. Most Australian operators would consider this a good effort, but Klein will not be satisfied. The natural solution is to use the company’s relationship with Newcrest to explore for potential acquisitions in those less attractive geopolitical but more attractive geological addresses. Klein says that Newcrest’s chief executive Greg Robinson sees Evolution as a growth vehicle.



“Clearly one of the advantages we have”, he says, “is that Newcrest has a world class understanding of the geology in Australasia and knows how to operate in these jurisdictions – places like Papua New Guinea, Indonesia and Fiji. So what we’re looking for are things that tick the box for Newcrest from a geological perspective and from a geopolitical perspective, but don’t meet the company’s size threshold. We want to work in the shadow of Newcrest, essentially, where we potentially get the cover they can provide by their significant presence.”



Though the addition of one or more lower cost operations will of course add ounces to the overall portfolio, production growth is not something Klein is chasing. In fact, the opposite is true and he will be doing his best to ensure Evolution remains a lean group of efficient mining operations. 



“There’s no rocket science behind why we think this merger is good for all shareholders,” Klein says. “The mid-tier space is where gold companies have consistently delivered superior returns to shareholders. On the very large side – the Newmonts, Barricks, Newcrests and Gold Fields – it’s very hard to move the needle in terms of growth. With the juniors, they tend to be constrained from a capital perspective and they find it very hard to fund their growth.”



So what’s so great about the mid-tier space? “The mid-tier space”, Klein explains, “is one where you can produce enough operational cash flow to fund growth, and that that growth is meaningful. So you get the two things that I think institutional investors want: a level of operational predictability, and the capacity to fund meaningful growth without having to come back to shareholders all the time.” 



And if anyone wants proof that his strategy would be effective, they need look no further than the commitment of specialist resources funds Black Rock Investment Management and Baker Steel Capital Managers. The two funds invested $50 million into that A$150 million entitlement offer to help fund the future growth. In terms of a vote of confidence, Klein won’t get much bigger than that.

*********************


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## springhill (6 August 2012)

Company presentation
http://www.asx.com.au/asxpdf/20120806/pdf/427vpk1pbqx7gn.pdf


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## Country Lad (24 July 2013)

Little double bottom which is going on with it.

Cheers
Country Lad


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## john455849 (8 February 2015)

interested in anyones thoughts re this company, going forward

i have a small holding, purchased in dec '14 @ 0.550


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## Triathlete (8 February 2015)

john455849 said:


> interested in anyones thoughts re this company, going forward
> 
> i have a small holding, purchased in dec '14 @ 0.550




Sitting on a nice profit so far...well done.

Looking at the weekly chart shows that it has closed above the $1.00 resistance level so nothing stopping it from going to the next resistance level of $1.25 from what I can see .

If it breaks through here and closes above that level than there are two significant levels  that will be coming into play which are the 50% All time high @ $1.55 and 50% All time range @$1.45.

I would be looking out for any reversals around these levels and possibly lock in some profits.

If the stock does carry on above $1.55 then anything is possible and run up to $2.00 to $2.25 is possible but we are bit away from that yet...good luck with it.

This is not financial advice and just my own view  others may have a different view..as always do your own analysis.


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## systematic (8 February 2015)

I'm happy holding.  I was going to be in around 85c but was late - got in at 93.


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## john455849 (10 February 2015)

thanks ppl


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## rnr (16 June 2015)

You can't help but arrive at the conclusion that someone doesn't want the price to drop from here!

For the last 2 days (at least) supply has been readily absorbed at this level.

Check out the volume on the last 2 bars, over 27 million shares, and then ask why the daily range is so low.

Just my view of where things are at and I could be way off the mark.

It's worth noting that overhead resistance could well be due to an unfilled gap to 1.305 to the upside.


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## skyQuake (16 June 2015)

GDX and GDXJ index inflow in this one - This fri will have fireworks volume


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## rnr (17 June 2015)

skyQuake said:


> GDX and GDXJ index inflow in this one - This fri will have fireworks volume




Are you referring to the fact that the Retail Book-build closes on Friday?


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## skyQuake (17 June 2015)

rnr said:


> Are you referring to the fact that the Retail Book-build closes on Friday?




Nope. GDXJ and GDX are some chunky ETFs in the US with holdings in EVN


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## systematic (18 May 2016)

systematic said:


> I'm happy holding.  I was going to be in around 85c but was late - got in at 93.




I'm out.  Was my best trade from 2015.  Was a pretty easy going trend, really.


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## Triathlete (19 May 2016)

Triathlete said:


> Sitting on a nice profit so far...well done.
> 
> Looking at the weekly chart shows that it has closed above the $1.00 resistance level so nothing stopping it from going to the next resistance level of $1.25 from what I can see .
> 
> ...





Who says predicting the future is impossible..

Well done to all those who got in early with EVN 141% in 15 months.

Closed @ $2.26 18/5/2016.


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## systematic (19 May 2016)

Triathlete said:


> Who says predicting the future is impossible..




Spot on, Triathlete!


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## craft (19 May 2016)

systematic said:


> Spot on, Triathlete!




Seriously?


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## systematic (19 May 2016)

craft said:


> Seriously?




If you've read my posts, you already know the answer to that 

No, I just realised triathlete was referring to his post above, where he said, "If the stock does carry on above $1.55 then anything is possible and run up to $2.00 to $2.25 is possible"

Triathlete was having a laugh about his super-forecasting powers, and I was indulging him.


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## greggles (10 April 2018)

The last six months have been very good months for Evolution Mining.

The company's flagship Cowal gold mine in NSW is a long-life, high-margin operation with a 14 year mine life.

The last half yearly financial results reported a net profit after tax of A$122.5 million and underlying profit after tax of A$124.7 million. All-in sustaining costs across all its five mines declined by 20% from the December 2016 half-year to A$785 per ounce (US$611/oz). Fully franked dividend of 3.5c per share.

Evolution Mining would have to be one of the better run ASX-listed gold miners around. My concern is that with a market cap of around $5.5 billion it might not have much more growth in it in the short term.


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## Craton (18 June 2018)

...and yet EVN continues to rise.
https://evolutionmining.com.au/asx-announcements/
Primarily seen as a mid level gold miner, EVN has driven the cost of gold production down consistently over the last few years. The balance sheet looks to be in good order with low debt and low gearing. Revolving line of credit and good cash balance.
EVN management has been able to extract good ROIC on acquired and/or developed assets and a further driver is the increasing dividend.
On a personal note I would suspect that 1mill oz annual gold production is well within managements sights.


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## Craton (11 July 2018)

Other things I note, offsetting the current high PE is that EPS and 100% franked Div's are increasing.


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## Craton (23 July 2018)

The commodity cycle, Au breaking support, has impacted the SP


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## Craton (23 September 2018)

Assets sales, AU price dropping, exploration upside, SP consolidating and plenty of interest in this stock sees it on my watchlist.


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## Cam019 (16 December 2018)

EVN forming a bull flag with price currently holding support at 3.25. Entry here would be 3.31 with an iSL of 3.24. Due to current market conditions, selling into old highs makes sense. Target range = 3.52 - 3.61. Low side of target range offers a minimum 3:1 reward/risk ratio.


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## Boggo (17 December 2018)

Went long on EVN at the close on Thursday. Weekly system that had a buy signal on Thursday and I jumped the gun a bit, signal was disabled by Friday's selloff.

(click to expand)


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## Cam019 (19 December 2018)

Pop, pop. Two days and we are right up near the low side of the initial target. 0.005c short though.  I would expect to see some consolidation here. Supply entering from punters wanting to offload, who got caught holding the bag from June/July earlier this year.


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## Cam019 (19 December 2018)

...and there we have it, $3.52 target hit intraday.


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## Boggo (19 December 2018)

Possibly a few higher targets to go if/when it breaks potential resistance around the $3.60 area.

(click to expand)


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## peter2 (3 January 2019)

Good top see that @Cam019  and @Boggo mentioned EVN at the correct time. 
Cam's mention of the small bull flag was spot on, but the larger ascending triangle was not mentioned. The BO of the AT triggered Boggo's weekly system and the trade has started well.


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## Porper (4 January 2019)

peter2 said:


> Good top see that @Cam019  and @Boggo mentioned EVN at the correct time.
> Cam's mention of the small bull flag was spot on, but the larger ascending triangle was not mentioned. The BO of the AT triggered Boggo's weekly system and the trade has started well.
> 
> View attachment 91134




NCM looking good on this daily chart. Weekly still messy...stuck in a wide range. A retest of new support maybe for a buying opportunity.

I hold EVN.


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## Boggo (4 January 2019)

peter2 said:


> Good top see that @Cam019  and @Boggo mentioned EVN at the correct time.
> Cam's mention of the small bull flag was spot on, but the larger ascending triangle was not mentioned. The BO of the AT triggered Boggo's weekly system and the trade has started well.




Yes, playing by the rules so far. First of my targets reached today, hopefully more to go.

(click to expand)


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## Zaxon (13 February 2019)

Profit is down


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## peter2 (28 April 2019)

Yep, EVN continued higher and hit the equal move (100%) target and significant round number $4.00 (in Boggo's chart).

Since then price has gone down and I notice that it's following EW theory and made a nice symmetrical 3 wave abc move which has ended right in the fib 50-61.8 buy zone (green box).

This setup is an aggressive gamblers only type reversal, but the price of gold went up significantly on Friday. I would expect another up day on Monday's open.


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## Joules MM1 (6 May 2019)

EVN on technical bid watch
friday saw two significant rotation ratio hit and thus far price is holding above both levels (fractional diff between the two) the daily 9rsi is also on a divergence, we'll need to see some constructive bid regardless of this mornings rip in gold, independent of news if the stock can climb once the immediacy and idiocy of news and news makers has subsided the stock should hold its own, at least we have clearly defined levels to work off


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## Boggo (21 June 2019)

Jumped in a bit early on my last attempt (post #24 above) at this stock and got stopped out.
New Amibroker signal on the break of 4.18 yesterday so back in on the dip today.
Looking at the weekly EW chart for potential targets. Let's see how this pans out 

(click to expand)


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## Dona Ferentes (12 January 2020)

a bit of diversification of resources has helped EVN







> .. the company said sections of the resource at Queensland's Mt Carlton mine were narrower than expected, and gold production in the year to June 30 would be about 27 per cent lower than previously expected as a result.
> 
> The cost of mining the gold will rise from less than $850 per ounce to between $1150 and $1225 per ounce this year.



_fell 6% on the news
_
EVN has six operational mines, and should produce between 725,000 and 775,000 oz of gold in 2020. Average received price was $2091/oz in Q4 2019. It is the 3rd biggest cap producer in Australia, behind Newcrest and Northern Star.


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## Dona Ferentes (12 February 2020)

EVN half yearly results :
Revenue up 20%. EBITDA up 23%
Stat profit up 60%
15 % increase in in dividends.

And up despite falls in gold and increase in AUD vs USD overnight.


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## rederob (18 April 2020)

In the infamous words of Whitlam, "it's time."
(Actually it was time a good time to pick up EVN in mid-December when all the fundamentals were lining up.)
And knife catchers had great buying opportunities in mid-March.
I was waiting for the dust to settle on potential mine closures or disruptions due to COVID-19 effects before diving in to more gold, and I think we are now on the money.
Aside from that, EVN's March quarter results will be out on April 23rd, and I am punting on a bounce.
So, those wanting to get onto a gold producer with heaps of upside potential, look at this:




EVN's dividend policy is to payout 50% of free cash flow, which is a bonus.
Given EVN has an AISC under AU$1000, and POG has been regularly trading above AU$2500 since end-February, strong margins are being achieved.
EVN's purchase of Red Lake looked like it was going to drag down profits, however, as POG clears US$1700/oz it's possible current output ill be near break-even.
Currently EVN is delivering about 15% of total production into out of the money hedges: as at 31 December 2019 some 350,000oz was hedged at an average price of $1,860/oz with quarterly deliveries through to June 2023.
Anyway, worth looking at for those wondering about yield and medium term investment potential.


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## Boggo (11 May 2020)

Up and down seems to be the norm.
Back on again today with a target ??

(click to expand)


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## rederob (11 May 2020)

Boggo said:


> Up and down seems to be the norm.
> Back on again today with a target ??
> 
> (click to expand)
> ...



Hard to believe EVN has not broken through its 8 August peak given POG has increased substantially since then.
Just running on EVN production numbers and free cash flow, I see it sitting comfortably over $6 after its next quarterly report.


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## Trav. (30 June 2020)

I am currently holding EVN which had a nice day yesterday up ~4% and hopefully will continue up again today.

- Huge volume on the 29/5 followed by ATH of $6.32
- The MACD back on the rise and volume is not too bad (dwarfed by the volume spike)
- Some resistance around the $5.60 mark so hopefully it takes that out today and holds


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## rederob (24 July 2020)

rederob said:


> Hard to believe EVN has not broken through its 8 August peak given POG has increased substantially since then.
> Just running on EVN production numbers and free cash flow, I see it sitting comfortably over $6 after its next quarterly report.



I got that wrong: EVN was sitting comfortably *before *yesterday's Quarterly Report:





With the USA and China continuing their tit-for-tat shenanigans there's every chance that POG will stay higher for longer.  That being the case, today's sellers might rejoin next week's buying queue.


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## Boggo (25 July 2020)

It hit the typical target (blue) I had on it in this post in May...
https://www.aussiestockforums.com/posts/1071906/

I jumped ship when I saw action in the market depth that created doubt when combined with it being at a potential target area.

Current chart and my escape below.

(click to expand)


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## Trav. (13 November 2020)

I had a little gamble on EVN bouncing back and so far so good.

I had a buy signal on a daily scan after the rise on the 11/11 but I was fully loaded up in other positions then. I decided to offload a few yesterday as they had gapped up and I wanted to lock in profits, and then I purchased EVN @ 5.65.

Yes it was a bit risky but the market has been a bit strange this week so I thought that the goldies will come back in favor soon but I did not expect this today. Hopefully it can hold it's gains today.


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## Trav. (24 November 2020)

I'm taking a hit on this one as I am a little surprised that the gold price is stumbling and it appears all the goldies are having a bad day / week.

I will hold and ride it out, but obviously not the best situation


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## sptrawler (24 November 2020)

Trav. said:


> I'm taking a hit on this one as I am a little surprised that the gold price is stumbling and it appears all the goldies are having a bad day / week.
> 
> I will hold and ride it out, but obviously not the best situation
> 
> View attachment 115194



Hi Trav, the banks are having a strong comeback, maybe gold is loosing its shine as the market sees a light at the end of the tunnel?


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## Trav. (24 November 2020)

@sptrawler yes something else is shiny and away the hoards go. Banks, Crypto etc 

Hopefully gold finds some support, but we will have to see.


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## Trav. (3 December 2020)

OK so I'm still in this trade after taking a couple of extra positions at $4.84 and $4.99 (original @ $5.65)

Gold price appears to be doing ok currently $1830, which has helped the recovery of EVN.






and a price sensitive announcement out today for JV partner which cannot hurt EVN at all.


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## mullokintyre (16 July 2021)

market not all that impressed with the releases from EVN today. 
Firstly, third quarter production  down marginally on last guidance, AISC in the mid range of guidance, and operating cash flow a not bad 212 mill.
Secondly,   the down side is that although the go ahead for the Red Lake expansion has passed board approval with a 15% IRR, and a mine life extension of seven years, the high capex cost for the next two years will seriously eat into that  operating cash flow.  The returns won't start coming in for a few years.
The third announcement has the  guidance for next year same as the original guidance for last year, with a  10% increase in 2023, then a further 20% increase in production in 2024.
All the good stuff in the future.
Might bow out of EVN  and look to come back  as we see how the expansion costs run out (they always increase).
Mick


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## bsnews (16 July 2021)

I did not feel that was all that bad, I suppose it will ride on POG up or down.
I will hold for the ATM and see if I can claw a bit more profit back.
Having said that I struggle to sell stocks and take profit of late been on EVN for some time now.


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## Craton (16 July 2021)

As a mostly passive, minnow investor with a longer term view, will continue to add more EVN on the (perceived) lows.


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## Miner (16 July 2021)

Craton said:


> As a mostly passive, minnow investor with a longer term view, will continue to add more EVN on the (perceived) lows.



I did that few weeks back the same. Right or wrong this little depression is a good sign to get company ready to fast gear.
However with new Corona effect in nsw company could potentially be back pedalling on schedule which will bring more opportunities. IMO. I could be biased.


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## Craton (16 July 2021)

Yes Miner, guess that's the difference between traders and investors huh.
Bloody CV19, it just keeps on keeping on affecting all parts of the economy.


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## mullokintyre (16 July 2021)

Problem is, all my goldies (and I have a few) are down today.
Not sure why, POG went up last night in AUD, and still holding above 2450,  which should have been a buy signal.
Switching from EVN to add to RRL, NST SLR and RMS.
Mick


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## Beaches (16 July 2021)

bsnews said:


> Having said that I struggle to sell stocks and take profit of late been on EVN for some time now.



I have no recommendation as to whether EVN should be bought, held or sold.
Companies will never love you back. They need to be cut loose without emotion when they have outlived your trading plan.
.


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## Craton (22 July 2021)

In a Trading Halt, proposed issue of new securities and equity raising. To fund Mungari acquisition by the looks of it.


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## mullokintyre (22 July 2021)

Craton said:


> In a Trading Halt, proposed issue of new securities and equity raising. To fund Mungari acquisition by the looks of it.



Obviously some people already in the know, which explains recent few days down action.
Mick


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## Miner (22 July 2021)

mullokintyre said:


> Obviously some people already in the know, which explains recent few days down action.
> Mick



Probably that lowering action was to get the offer price lower on last 5 days average and make the CR attractive.


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## Craton (22 July 2021)

mullokintyre said:


> Obviously some people already in the know, which explains recent few days down action.
> Mick



Yep, and so typical huh.
SP raising at $3.85 looks to be the mark.
SPP in $$$ only, min 2.5 to 30K


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## Beaches (22 July 2021)

Disappointing in the short term for holders as the share price will no doubt move down to the offer price. Conversely, it could be a good entry point for those not holding.

If the gold price drops over the next few weeks, the share price could even go under the offer price.

EVN seems far more attractive to me after this transaction and I will likely take a position once the price moves down to the offer price.


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## bsnews (22 July 2021)

I already have a fair size position in EVN and no I did not sell. Now I need to decide upon taking up the offer or not.
Having read through it all it looks positive but I thought that from the start and look where it is at now.
Still what do you have to loose. It's only money and they print it evey day!


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## Beaches (22 July 2021)

mullokintyre said:


> Switching from EVN to add to RRL, NST SLR and RMS.
> Mick



@mullokintyre if you got out of EVN on Friday or Monday then great timing.


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## divs4ever (22 July 2021)

i am not planning to exit EVN , i ( originally ) bought in at 75c  , but did buy two top up packages this week 

 it is VERY tempting to sell those ( recent ) shares and repurchase in the SPP ( or cheper if the SP  falls through the offer price )

 am still considering my tactics 

 TAKE CARE


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## divs4ever (22 July 2021)

bsnews said:


> I already have a fair size position in EVN and no I did not sell. Now I need to decide upon taking up the offer or not.
> Having read through it all it looks positive but I thought that from the start and look where it is at now.
> Still what do you have to loose. It's only money and they print it evey day!



 what a trending attitude , especially at Central Banks 

 but keep thinking  you might  spot an extra angle that goes your way


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## mullokintyre (22 July 2021)

Beaches said:


> @mullokintyre if you got out of EVN on Friday or Monday then great timing.



Yep, got out on Friday.
And it was pure fluke, no great charting or interpretive skill, just plain dumb luck.
Mick


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## bsnews (22 July 2021)

divs4ever said:


> i am not planning to exit EVN , i ( originally ) bought in at 75c  , but did buy two top up packages this week
> 
> it is VERY tempting to sell those ( recent ) shares and repurchase in the SPP ( or cheper if the SP  falls through the offer price )
> 
> ...



There is always an angle.


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## divs4ever (22 July 2021)

sometimes i can figure out one that works for me  , sometimes i can't

 my problem is do i really want to add extra EVN via the SPP  ( or even above $3 since there will be a dilution from the cap. raising )

 my average including the early shares is $2.60  , and the prospectus is nice , but some rival gold producers have their charms as well


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## Miner (24 July 2021)

divs4ever said:


> sometimes i can figure out one that works for me  , sometimes i can't
> 
> my problem is do i really want to add extra EVN via the SPP  ( or even above $3 since there will be a dilution from the cap. raising )
> 
> my average including the early shares is $2.60  , and the prospectus is nice , but some rival gold producers have their charms as well



You really did very well on investment price.
Hypothetically, if EVN rises to say $6 or more and you decided today to abstain from rights offered at $3.85, how would you react ?
I have had almost missed the bus when after seeing continuously dropping price against all good fundamentals, I thought there could be any accident and put a sales order. Luckily then the sale did not go through as my asking price was couple of cents more than the closing price. Next I saw the surprise of trading halt and SPP price of $3.85. Definitely market manipulators will escalate the price as they do so that no one gives a pass to the SPP Offer.
With WA Purchase, I am cautiously optimistic to have a turn around on EVN and I am not tempted to sell of current holding unless any expert advises otherwise and would take the SPP allotment.
DYOR - I am biased as EVN currently has the largest slice of my invested super fund.


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## divs4ever (24 July 2021)

well i bought some  EVN this week at $4.45 and $4.20  before the acquisition announcement  after the announcement SPP details  i was highly amused to see the stock price climb  Sooooo   i thought for a bit and decided to SELL the recently acquired shares for $4.35 ( but keeping the shares i bought years back @ 75c  just to make sure i would be entitled to participate in the offer  )

 now SO FAR i intend to participate in the SPP UNLESS the market price drops below $3.80 in which case i will buy on market 

  even if i participate in the SPP EVN will NOT make my top ten holdings

 but i do hold several gold producers  , after my tragic run in KCN , i learned never to bet big on the company management ( RIP Gavin Thomas ) or just one company in a sector .

 please note  i am still looking for a better angle with EVN , but that is my plan so far 

 this 'flipping attempt ' is similar to an approach i used on a ORG placement year ago  .. just as well i did that  the lowered average share price allowed me to exit in a modest profit when it was obvious to me ORG was going nowhere nice

 cheers


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## qldfrog (24 July 2021)

For those tempted to go rll,look at the way they have handled their spp.i really felt screwed up as existing share holder a few month ago. I still own a few rll and no evn at this stage.orobably better going thru ETF gold producers


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## bsnews (24 July 2021)

I have about 15% of my holding in EVN and as long as the share price holds I will take up the SSP offer it looks like a good acquisition for them and a good sale for NST so not sure why NST SP tumbled.
RRL I hold about 10% in my holdings again I thought it was another good acquisition for them but are being punished from the share dilution but this will blow over and be forgotten in time. I still like RRL.
I could not help myself to be truthful and had to buy some NST as that looked to good to me yesterday as well.


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## divs4ever (24 July 2021)

no stock in my portfolio is ( much ) above 5%  but then i have over 200 shares so after consolidations and share price drops some holdings  are very tiny  .

 the NST tumble MIGHT have been investors swapping for NST into EVN ( perhaps workers in the sold mines with shares in the company ) or joint venture partners in the mines NST has palmed off . for some reason the shift was compelling NST --> EVN  or so it seems 

 after all NST is a big company now  , the mines sold were mines with risiong costs  and possibly with limited expansion options  , because under Bill Bearment he would buy mines  that had highly prospective surrounds  , i am not quite sure how the new management will adjust policy 

 my next buy of NST will be sub $9.50 whenever that will be ,  my last parcel was $9.75  in June and the parcel before that 87c in February 2013 .

 i have a strong preference for dividend paying stocks ( although some have gone on the have massive capital gain as well ) take CCP bought as a 'safe-haven' ( to my way off thinking ) in August 2012 .. i thought there would be a big market crash ( and credit tightening ) sometime mid 2013 so bought CCP near $6.20 , now my thesis was absolutely wrong , but the company grew anyway without the extra tailwinds .

 as stated elsewhere i have only successfully predicted ONE stock to go strongly in an upward direction , the rest have gone up ( or into oblivion  ) anyway  and if they go up enough i NORMALLY take SOME cash off the table and reinvest elsewhere .


----------



## Miner (29 July 2021)

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02400483-2A1312350?access_token=83ff96335c2d45a094df02a206a39ff4
		

Good morning Team
What are your thoughts on the SPP .
With current market price $4.21 the issue price $3.85 looks attractive IMO but there will be dilution and sustainability of gold price to stand up the economics.
Personally I would like to avail the offer and would like to have your commentary to be shared here.

Regards


----------



## rederob (29 July 2021)

Miner said:


> https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02400483-2A1312350?access_token=83ff96335c2d45a094df02a206a39ff4
> 
> 
> Good morning Team
> ...



From their announcement:
*The price paid by eligible shareholders for SPP shares will be the lesser of: *​*• A$3.85, which was the Issue Price; and *​*• a 2.5% discount (rounded down to the nearest cent) to the 5-day VWAP of Evolution shares up to, and including, the closing date of the SPP (expected to be Friday, 20 August 2021). *​*Evolution intends to target a raising of up to A$50 million via the SPP.*​
I will wait a few weeks and see what happens to POG.
The below Renko style chart has EVN's next trade as a *BUY.





*
My strategy is to buy into the SPP if POG rises over the fortnight and if, after the allocation is made, POG does not move I will sell off the allocation (and retain initial purchased number as they were for the long haul).


----------



## divs4ever (29 July 2021)

well i intend to partake in the SPP but at the small end of the range  ( unless the price dips noticeably below the SPP price )

 but then i reduced the holding to add cash to do so comfortably  , the result will increase my holding , before the recent sell-down  but not by a large amount ( nothing close to say , doubling  )


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## Miner (29 July 2021)

rederob said:


> From their announcement:
> *The price paid by eligible shareholders for SPP shares will be the lesser of: *​*• A$3.85, which was the Issue Price; and *​*• a 2.5% discount (rounded down to the nearest cent) to the 5-day VWAP of Evolution shares up to, and including, the closing date of the SPP (expected to be Friday, 20 August 2021). *​*Evolution intends to target a raising of up to A$50 million via the SPP.*​
> I will wait a few weeks and see what happens to POG.
> The below Renko style chart has EVN's next trade as a *BUY.
> ...



thanks @rederob  for the chart.


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## Miner (29 July 2021)

divs4ever said:


> well i intend to partake in the SPP but at the small end of the range  ( unless the price dips noticeably below the SPP price )
> 
> but then i reduced the holding to add cash to do so comfortably  , the result will increase my holding , before the recent sell-down  but not by a large amount ( nothing close to say , doubling  )



thanks @divs4ever . It makes sense . I have however right or wrong, unloaded my 50 pc holding as soon as trading halt lifted knowing SPP will be provided to all holders regardless of the amount of holding and to get some powder to reinvest. 
But again I do not want to be carried out and every commentary will be well received (surely shared by others too ) to build up a knowledge base (for people like me )


----------



## rederob (29 July 2021)

Miner said:


> thanks @rederob  for the chart.



Yes, it shows support at $3.90.
So the SPP at $3.85 looks good value ATM while POG holds over $1800.
As I am a gold bull in this debt laden world it will be a hard decision to sell ANY gold shares going forward.
EVN's downside is largely due to its strong returns being over a year away, when the full scope of their many projects are sharing more evenly in the company's bottom line.


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## DannyB0000 (29 July 2021)

I bought my first parcel of NST shares around $15 last October and held on to them, reinvested my tax return and bought a second parcel of shares about $10.20, holding NST in case central banks lose control of inflation and Gold skyrockets up as a result Or there’s another crisis.  The gold miners are profitable at current gold prices so pay reliable dividends.


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## divs4ever (29 July 2021)

for me  extra EVN is nice but not essential ,  and while i am dabbling  in gold producers currently  , i intend to have some dry powder  for buying elsewhere 

 there will be a market melt down eventually ( it is just the way of the markets )


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## bsnews (29 July 2021)

From what I read the deal looked good for EVN also for NST win win.
$3.85 is looking very well valued and I will take up my full allocation amount. It will not double my holding and I will be happy to sit on EVN.
I am into the inflation play. even blind Freddy has to see it is not transitory. 
Having said that EVN will not see any upside for over 1 year from what I have read.
Could of sold ENV at the $5.00 but I could not pull the trigger as I see more potential here.
Time will tell.


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## divs4ever (29 July 2021)

as i read it EVN is trying for extra synergies  with existing projects in the area 

 so while the acquired mines might currently have elevated costs ( under NST ) , EVN is hoping to shave pennies ( maybe dollars ) by having personnel and machinery  that can be interchanged at short notice  between mines  ,( in the area  )

 who knows what other synergies  will apply ( say bring in an entire planeload  of workers each shift  and score a discount )


----------



## rederob (9 August 2021)

rederob said:


> Yes, it shows support at $3.90.
> So the SPP at $3.85 looks good value ATM while POG holds over $1800.
> As I am a gold bull in this debt laden world it will be a hard decision to sell ANY gold shares going forward.
> EVN's downside is largely due to its strong returns being over a year away, when the full scope of their many projects are sharing more evenly in the company's bottom line.



Gold price was smashed over recent trading sessions, and EVN took a nosedive on open this morning:
	

	
	
		
		

		
			




Bounced off a low at $3.94 this morning so support was not breached.
I will see what happens overnight, and will buy into the SPP at $3.85 max if POG continues to climb.


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## divs4ever (9 August 2021)

have an order in for $3.68 just in case EVN dips below the offer price 

 dips aren't all bad IF you have faith in the business ( that having faith can be the hard bit )


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## Miner (9 August 2021)

EVN has dived lesser than other gold stocks. Look at WAF, SBM, NST.
I will buy more if price goes below $3.85 or SPP whichever is lower before the closure of SPp.
Dyor


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## divs4ever (9 August 2021)

Miner said:


> EVN has dived lesser than other gold stocks. Look at WAF, SBM, NST.
> I will buy more if price goes below $3.85 or SPP whichever is lower before the closure of SPp.
> Dyor



 as will i , am watching NST also  , but i am thinking sub $9 for my next buy ( and that MIGHT be a fair wait )


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## finicky (9 August 2021)

I shut out opportunities today as raising cash is primary in my plan. Waiting for the bust. Goldies to get hit much like anything else if it happens but might recover faster. Would only buy EVN at a price lower than 3.85 anyway. If buying anything now I think cash and debt status of the company should be given weight.


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## divs4ever (9 August 2021)

M&A activity in my portfolio strongly suggests i have more cash coming  ,even if my sell ( or reduce ) orders   don't activate 

 am not RUSHING in any direction  but discounted gold producers  , APPEAR to have  earning capacity going forwards 

 but indeed outstanding debt will be a biggie ( imo )


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## Miner (19 August 2021)

Today's result announcement is a disappoint to me. People who yet to make a decision on SPP at 3.85 will probably stay out  to see market price today.
I thought evn was a great go.


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## mullokintyre (19 August 2021)

Miner said:


> Today's result announcement is a disappoint to me. People who yet to make a decision on SPP at 3.85 will probably stay out  to see market price today.
> I thought evn was a great go.



Management needs a shakeup.
What is the first item in the FY21 highlights in the report?


> Public  commitment  to  transition  to  “Net  Zero”  greenhouse  gas  emissions  by  2050  (scope  1  and  2)  and  a 30%  reduction  in  greenhouse  gas  emissions  by  2030



And in the opening paragraph of the report 


> Evolution  has  always  put  environmental  and  social  concerns  at  the  forefront  of  our  operations.  We  have  now publicly  committed  to  bolder,  more  tangible  action  as  we  align  our  business  with  the  commitment  to  transition  to “Net  Zero”  greenhouse  gas  emissions  by  2050 (scope  1 and 2)  and a 30%  reduction in  greenhouse gas  emissions by  2030. Evolution  continues  to  be  recognised  for  its  Sustainability  performance,  receiving  a  sector  leading  rating  of  ‘AA’ in  the  MSCI  ESG  Ratings  assessment.



I just wish they would concentrate on the job they are paid to do - maximie returns for shareholders.
Will join the exodus from EVN today.
Mick


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## Miner (19 August 2021)

mullokintyre said:


> Management needs a shakeup.
> What is the first item in the FY21 highlights in the report?
> 
> And in the opening paragraph of the report
> ...



100 pc agreed .
I already sold at $4 plus to conserve cash for spp and unfortunately part  committed to spp due to last date . So sucking my thumb.


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## bsnews (19 August 2021)

Well I don't know really is it all that bad in todays COVID world?
Not sure, I will hold on to what I have and still take up the SPP offer.
I still am of the believe that if not for the Fed and there minipulation of the market gold
and gold producers would be up way more then they are ATM.
Time will tell.


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## divs4ever (8 September 2021)

for those interested  EVN is testing support around the recent SPP level 

is currently at $3.84 

 DYOR


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## divs4ever (22 September 2021)

i finally bought the extra EVN on Monday @ $3.72  , not the best price in the current cycle  , but a nice discount to the $3.85 offered in the SPP ( which translated to extra shares bought  than through the SPP )

 given the SPP price couldn't hold  and the next 12 months of reports  shouldn't look too exciting ( costs eaten up  with the new acquisitions )
 AND a world desperate to keep the US dollar from being trash therefore using gold futures to suppress the gold price

 i am looking for more EVN in the $3.25 to $3.50 range  although sub $3 wouldn't break my heart

thanks to the pathetic NBN  on the day i tried to participate in the SPP    , i ended up buying on market ( at a nice discount even after the brokerage ) after selling down @ $4.35  to take up the SPP ( one of my 'flips' that didn't go so smoothly )

 i don't expect EVN to rocket in the short term  , but as the rest of the economy implodes , solid gold producers should do OK  ( because the Indian masses LOVE gold  and they are the next coming super-power  , especially if they keep on seizing Afghan opium    cheap legal drugs for them after they reprocess it )


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## mullokintyre (22 September 2021)

Good luck with that Div4,.
I still think that gold shares will get crunched along with everything else in the next big crash, but I will have EVN on my list of buys.
Sub would be fantastic.
Mick


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## divs4ever (22 September 2021)

mullokintyre said:


> Good luck with that Div4,.
> I still think that gold shares will get crunched along with everything else in the next big crash, but I will have EVN on my list of buys.
> Sub would be fantastic.
> Mick



 i think so too 

 but where else  ( than solid PM companies )  do you park  your cash  , the bank ( not for long , in my book ) bot even EXTRA bank shares , bonds ( not now defaults are becoming more common )

 hopefully my stocks will pay enough currency  to sustain my frugal lifestyle  ,  sure stock prices will probably  go lower  as those over-leveraged are forced to reduce debt  , BUT maybe i will still have some reserve cash  , to take advantage of that as well 

 i am still looking for companies likely to SURVIVE  that crash (  if they double bag before  the crash  , out comes the investment cash  , ready to nibble something else , but still retaining some of those shares )


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## Greynomad99 (23 September 2021)

divs4ever said:


> i think so too
> 
> but where else  ( than solid PM companies )  do you park  your cash  , the bank ( not for long , in my book ) bot even EXTRA bank shares , bonds ( not now defaults are becoming more common )
> 
> ...



You should have a look at mortgage funds. You can find contributory mortgage funds that lend only about 65% of the sworn value of metro   residential properties while paying a monthly yield of about 6% - 7%. Nothing is risk free but hard to lose at those lending ratios. Some funds don't provide regulated consumer mortgages, thereby reducing investor risk to recovery restrictions. With contrib mortgages the investor gets to pick which mortgaged property backs his specific investment. While I have no financial interest in the Fund (and not recommending an investment) I do act as one of their external compliance committee but you could look at www.millbrookgroup.com.au as an example of what that type of fund offers.


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## Sean K (23 September 2021)

Greynomad99 said:


> You should have a look at mortgage funds. You can find contributory mortgage funds that lend only about 65% of the sworn value of metro   residential properties while paying a monthly yield of about 6% - 7%. Nothing is risk free but hard to lose at those lending ratios. Some funds don't provide regulated consumer mortgages, thereby reducing investor risk to recovery restrictions. With contrib mortgages the investor gets to pick which mortgaged property backs his specific investment. While I have no financial interest in the Fund (and not recommending an investment) I do act as one of their external compliance committee but you could look at www.millbrookgroup.com.au as an example of what that type of fund offers.




Is this a Mortgage Backed Security type thing?


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## divs4ever (23 September 2021)

i have a fair amount of REITs ,  fairly diversified  across the sector  , but i have stocked up on them as bond substitutes 

 i would have preferred  more industrial sheds  ,  but with all the virus fallout  , i am half tempted to bias towards more rural land ( i hold RFF and D2O  )

  i hold a fair few APE  which as major holder declares he is really a frustrated property developer   , maybe the switch to EVs  would allow many properties   to  turn into a showroom at ground  level  and office or residential  at higher levels  , after all many owned properties are on prime locations


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## Greynomad99 (23 September 2021)

kennas said:


> Is this a Mortgage Backed Security type thing?




No its not securatised debt. It's like the old solictors loans of days gone by. The fund manager finds someone needing a loan, assesses the loan as to its credit-worthiness and then finds investors to put up the loan amount. The Fund Manager holds the mortgage over the property and manages the debt, collecting repayments and paying interest to the investors. The manager has to hold an AFSL issued by ASIC and  adhere to ASIC's regulations re managed investment schemes. The Fund I mentioned before has never lost $1 of investors money in 14 years (although that doesn't mean they won't in the future). Loans are about 12 months on average so investors money is not tied up for long periods of time but no right if withdrawal prior to the borrower repaying the loan (or if they default, before the manager sells the property).


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## Sean K (1 October 2021)

So, @divs4ever made me look at this more closely because he picked it in the monthly comp, where you're supposed to pick 1c stocks. 

Why has this tanked so much? Doesn't look right.


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## divs4ever (1 October 2021)

looks beautiful to me  i first bought some at 74.5 cents in 2015 

 i suspect many will not admire the coming 12 months of reports  as it tries to digest  the recent mine acquisitions ( that  should eventually  improve cost efficiency ) and the persistent tipping of cash into JVs ( mostly explorers hoping to be producers one day )

 definitely as bold as NST under Bill Bearment  , but i hold both EVN and NST ( and several other gold producers )

 IMO gold producers are a bet against major currencies  , as many are being inflated without corresponding increases in productivity 

 while i love my divs i realize  i need SOME growth  to resist the ravages of inflation 

 EVN and NST look like an acceptable compromise to achieve both 

 DYOR

 as YES i expect EVN , NST and the 'gold price ' to be beaten down in the near term to make currencies look strong  ( and hopefully cheaper shares for me )

 if not excited about gold miners  check out SXE which is leveraging the miners desire to lower energy costs at mining projects  ( isn't exclusively catering to miners but that is where the contracts are coming from , currently )

 i would have considered SXE as a tip  but my top up price is sub 40c and that is unlikely in the current month 

 maybe i will save that for the yearly comp.


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## explod (11 October 2021)

Could not help myself.  Future of this looks very bright and don't think it will be effected too much by a drop in the gold price, so added more  and dropped my NST which seems to be tiring due to falling amounts overall in their dirt. Having said that I do think it's a bit oversold.

Just my rough opinion.  DYOR


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## Sean K (11 October 2021)

explod said:


> Could not help myself.  Future of this looks very bright and don't think it will be effected too much by a drop in the gold price, so added more  and dropped my NST which seems to be tiring due to falling amounts overall in their dirt. Having said that I do think it's a bit oversold.
> 
> Just my rough opinion.  DYOR




Both NST and EVN charts looking pretty similar to me. Looks like you could flip a coin to see which one to be in, or just be in both... I've only briefly looked at both of them but not sure why one would outperform the other going forward??


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## explod (11 October 2021)

I go more by fundamentals than charts kennas.  Though I do follow volumes to asses sentiment as that seems to play a major part in my view.


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## Sean K (11 October 2021)

explod said:


> I go more by fundamentals than charts kennas.  Though I do follow volumes to asses sentiment as that seems to play a major part in my view.




I try to do both. But, having briefly looked at both operations and various projects I'd still be flipping a coin. What do you see to prefer EVN over NST at the moment? I'm looking at buying into the majors when I see PMs and PGEs turn around and so far my conclusion on best value is to flip coins... To hedge risk owning NCM and these two should cover it.


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## Sean K (9 November 2021)

Looks like a pip either side of $3.90 is EVN's break point.


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## Sean K (11 November 2021)

Broke through $4.00 yesty above the $3.90 ish zone, and with POG breaking resistance and XGD on the way up I'd expect EVN to mirror it. The target for XGD is 7600 May high, POG $1900, which will equate to about $5.40 on EVN.


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## Sean K (18 November 2021)

EVN could have potentially stuffed up the neat charts with the decision to spend $1b on buying out Glencore at Ernest Henry. They already get 100% of the gold, so this is a play for the Cu and Ag. Diversification perhaps. Not sure I'd prefer them doing something like this or buying an advanced developer with more upside in their stock metal - gold. Something like DEG. 

Just broken through first line of support heading into messy territory. None of that matters too much post this decision with general sentiment / analysis of the deal probably causing some disruption. I don't like it, which means the sp will probably go up.


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## mullokintyre (18 November 2021)

Agree.
I made some good profits on this two years ago, but my most recent forays were a ten percent loss.
Moving on to others.
Mick


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## Sean K (18 November 2021)

As I didn't like the plan, of course it went up. I'm only really holding due to the chart and that I think POG is going to keep going.

In the Oz:


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## Sean K (19 November 2021)

EVN had a great day yesterday off bad news (to me). I obviously know nothing.

Coming up against some resistance now, expect a retrace to the blue circle ish.


----------



## Joules MM1 (4 December 2021)

TradingView Chart
					






					www.tradingview.com
				



technical only


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## divs4ever (8 December 2021)

my other pick for the year long comp 

  YES ,, i pick the ones i hope will go  lower so i can buy them cheap 

 i have a reasonable  amount of EVN already  but am not bloated 

 since most Central Banks have resisted  lifting interest rates  in recent  months i expect there will be more suppression of gold prices   in coming months 

 while EVN is not the most exciting gold-producer on the ASX , i think the current strategy will pay off longer term 

 i currently have a buy order in the market  somewhere around $3.20  and yes it might take me all year to get that order filled 

 good luck everyone


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## Craton (14 December 2021)

Hmm, OK.
EVN is also my pick for the 2022 Full Year stock picking/tipping comp.

Why?
Gold, silver and copper-gold. Gotta have a goldie in the portfolio mix and EVN has a proven managerial track record of growing the company.


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## divs4ever (14 December 2021)

i was thinking it would be a 'stealth' improver  trimming costs via synergies this year  rather than 'growth' via  acquisitions and accelerated  exploration campaigns 

 but with EVN  still having funding available for  any opportunities ( since EVN can make copper mines profitable as well )

 now IF BHP wanted to put in a serious  effort to grow  , there is still plenty of Olympic Dam waiting to be developed ( but that might dampen a lot of commodity prices )


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## divs4ever (6 January 2022)

FULL OWNERSHIP OF ERNEST HENRY – ACQUISITION COMPLETED

Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to advise that it has completed the acquisition of full ownership of the Ernest Henry copper-gold mine located ~38km north-east of Cloncurry, Queensland (“Ernest Henry”). The acquisition was via an agreement to acquire 100% of the shares in Ernest Henry Mining Pty Ltd from Glencore. Evolution has paid Glencore A$800 million from available cash on hand with the remaining A$200 million due and payable on 6 January 2023.
Ernest Henry will generate immediate benefits from increased copper production which will reduce Group All In Sustaining Costs (AISC) by around 12% on a full year basis, and cements Evolution as one of the lowest cost gold producers in the world. The operation also has attractive growth potential below the current operating footprint which is the subject of a pre-feasibility study. Commenting on the completion of the transaction, Executive Chairman Jake Klein said: “Acquiring full ownership of Ernest Henry is transformational for Evolution and again demonstrates our track record of identifying and securing opportunities that are both accretive and improve the quality of the portfolio.

Ernest Henry is a world class operation in a Tier 1 jurisdiction which we know well through our previous economic interest investment in 2016. I extend a warm welcome to our new colleagues that join Evolution today.
 We look forward to continuing to build on our relationships with the local communities in Cloncurry and Mt Isa, and with the traditional custodians of the land, the Mitakoodi People.” This announcement has been authorised for release to the ASX by the Executive Chairman.

 DYOR

 i hold EVN

 am not sure how EVN calculates  ' one of the lowest-cost gold producers  in the world '  there are some rivals that run a pretty tight ship


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## mullokintyre (6 January 2022)

divs4ever said:


> FULL OWNERSHIP OF ERNEST HENRY – ACQUISITION COMPLETED
> 
> Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to advise that it has completed the acquisition of full ownership of the Ernest Henry copper-gold mine located ~38km north-east of Cloncurry, Queensland (“Ernest Henry”). The acquisition was via an agreement to acquire 100% of the shares in Ernest Henry Mining Pty Ltd from Glencore. Evolution has paid Glencore A$800 million from available cash on hand with the remaining A$200 million due and payable on 6 January 2023.
> Ernest Henry will generate immediate benefits from increased copper production which will reduce Group All In Sustaining Costs (AISC) by around 12% on a full year basis, and cements Evolution as one of the lowest cost gold producers in the world. The operation also has attractive growth potential below the current operating footprint which is the subject of a pre-feasibility study. Commenting on the completion of the transaction, Executive Chairman Jake Klein said: “Acquiring full ownership of Ernest Henry is transformational for Evolution and again demonstrates our track record of identifying and securing opportunities that are both accretive and improve the quality of the portfolio.
> ...



Its called talking yourself up.
Mick


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## divs4ever (6 January 2022)

mullokintyre said:


> Its called talking yourself up.
> Mick



 yes , and i am not so happy to see that  from an established company , at the very least it gives the hint of another capital raise , but others might says it hints at discontent with the board  , such hints MIGHT attract super-critical analysts ( and the accompanying short-sellers )

 while i am currently  willing to add extra EVN  around $3.20 ( ish )  that could change  , if they try to over-expand quickly


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## Miner (28 January 2022)

No one blinked - whats up folks ??


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## divs4ever (28 January 2022)

am waiting @ $3.20  ( for extras )

 no worries , just means the cash is still in MY bank account


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## Miner (28 January 2022)

divs4ever said:


> FULL OWNERSHIP OF ERNEST HENRY – ACQUISITION COMPLETED
> 
> Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to advise that it has completed the acquisition of full ownership of the Ernest Henry copper-gold mine located ~38km north-east of Cloncurry, Queensland (“Ernest Henry”). The acquisition was via an agreement to acquire 100% of the shares in Ernest Henry Mining Pty Ltd from Glencore. Evolution has paid Glencore A$800 million from available cash on hand with the remaining A$200 million due and payable on 6 January 2023.
> Ernest Henry will generate immediate benefits from increased copper production which will reduce Group All In Sustaining Costs (AISC) by around 12% on a full year basis, and cements Evolution as one of the lowest cost gold producers in the world. The operation also has attractive growth potential below the current operating footprint which is the subject of a pre-feasibility study. Commenting on the completion of the transaction, Executive Chairman Jake Klein said: “Acquiring full ownership of Ernest Henry is transformational for Evolution and again demonstrates our track record of identifying and securing opportunities that are both accretive and improve the quality of the portfolio.
> ...



"am not sure how EVN calculates ' one of the lowest-cost gold producers in the world ' there are some rivals that run a pretty tight ship"
probably EVN is taking the copper credit.
In Grasberg (Indonesia) Freeport used to produce gold at a negative price because it is a copper mine on the book.https://en.wikipedia.org/wiki/Grasberg_mine
Olympic Dam produces uranium as a copper mine too,
However, EVN is talking themselves up or considering the cash cost only. With heavy CAPEX going on, their actual AISC would make them lower on the ladder.
Per Kitco, EVN is the 4th lowest. Kirkland is a publicity shy company with lower AISC









						Lowest cost gold mining companies in Q3 2021 - report
					

A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.



					www.kitco.com


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## divs4ever (28 January 2022)

Miner said:


> "am not sure how EVN calculates ' one of the lowest-cost gold producers in the world ' there are some rivals that run a pretty tight ship"
> probably EVN is taking the copper credit.
> In Grasberg (Indonesia) Freeport used to produce gold at a negative price because it is a copper mine on the book.https://en.wikipedia.org/wiki/Grasberg_mine
> Olympic Dam produces uranium as a copper mine too,
> ...



 several miners benefit nicely  from ' by-products ' ( silver, copper , and other minerals mixed in the ore )

 but i notice  the old trick of some  using  'all-sustaining costs ' (by some )  , ASIC ( by some ) ASIC 3 ( by others )  ( there are important differences  on what is included each definition ) ALSO i note some declare costs in $US ,  and others in $ which could be Australian , US Canadian , or some other local currency ,

 important differences to watch for reading the reports  ( the Australian dollar is currently buying just over 70 UScents ) and i assume the NZ dollar slightly less than that ( for OGC holders )


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## mullokintyre (29 January 2022)

Miner said:


> "am not sure how EVN calculates ' one of the lowest-cost gold producers in the world ' there are some rivals that run a pretty tight ship"
> probably EVN is taking the copper credit.
> In Grasberg (Indonesia) Freeport used to produce gold at a negative price because it is a copper mine on the book.https://en.wikipedia.org/wiki/Grasberg_mine
> Olympic Dam produces uranium as a copper mine too,
> ...



I worked at the Grasberg mine  for a short while when Freeport Macmoran owned it.
Was a very impressive place, those yanks  love an engineering challenge, and pulled most of it off very well.
Problem was, they have a firm belief that if it was not invented in the USA, its no good.
Mick


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## Miner (29 January 2022)

mullokintyre said:


> I worked at the Grasberg mine  for a short while when Freeport Macmoran owned it.
> Was a very impressive place, those yanks  love an engineering challenge, and pulled most of it off very well.
> Problem was, they have a firm belief that if it was not invented in the USA, its no good.
> Mick



Ha Ha
I also worked with Freeport but in Canada, Peru and USA.
We did have the  Pres, VP and few directors ex PTFI .  😀 😃 🙂 
So I know what you are saying in PTFI.
Fortunately I was hand-picked from Oz land by FCX  and the yanks often  asked my opinion being an Australian Miner. 
So I was slightly advantaged


----------



## mullokintyre (29 January 2022)

Miner said:


> Ha Ha
> I also worked with Freeport but in Canada, Peru and USA.
> We did have the  Pres, VP and few directors ex PTFI .  😀 😃 🙂
> So I know what you are saying in PTFI.
> ...



So did you ever get to New Orleans headquarters ( or NOLA as they used to call it)?
I was tempted to visit there a few years ago when the wife and I spent a few days in New Orleans, but there was so many tempting things to see and do, we ran out of time.
Got their pound of flesh, working 6 days a week 12 hours a day.
They paid very well, but a ruthless co to work for.
There were two planes a week out of Tembagapura to Cairns, on Wednesdays and Sundays.
So if it got to Wednesday and you were not fired, you were safe till Sunday.
If you got to Sunday and you were not fired, you were safe till Wednesday.
Every 3 months we got a weeks R and R in Cairns all expenses paid.
Still enjoyed it while I was there.
Missus and the kids were  not so keen.
Mick


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## Miner (29 January 2022)

mullokintyre said:


> So did you ever get to New Orleans headquarters ( or NOLA as they used to call it)?
> I was tempted to visit there a few years ago when the wife and I spent a few days in New Orleans, but there was so many tempting things to see and do, we ran out of time.
> Got their pound of flesh, working 6 days a week 12 hours a day.
> They paid very well, but a ruthless co to work for.
> ...



PM me.
Rest of the guys on EVN thread may not enjoy it.
In short my connection in USA office was in Phoenix only and was stationed in Vancouver.


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## divs4ever (16 February 2022)

FY22 HALF-YEAR FINANCIAL RESULTS AND INTERIM DIVIDEND​
Evolution Mining Limited (ASX: EVN) has today reported a statutory net profit of A$90.8 million for the six months
ended 31 December 2021 (“the half-year”) and that it will pay an interim dividend of 3.0 cents per share fully
franked, the 18th consecutive dividend paid since 2013.
Key highlights for the half-year included:
 Statutory net profit after income tax of A$90.8 million (H1 FY21: A$228.7 million)
 Underlying net profit after income tax of A$100.1 million (H1 FY21: A$234.0 million)
 EBITDA of A$393.3 million (H1 FY21: A$514.6 million)
 Strong EBITDA margin of 44% (H1 FY21: 52%)
 Mine operating cash flow of A$396.4 million (H1 FY21: A$531.2 million)
 Net mine cash flow of A$120.4 million (H1 FY21: A$353.9 million) after A$203.7 million of planned
investment in major projects
 Mineral Resources increased 12% year-on-year to 29.6 million ounces (31 December 2020: 26.4Moz)1
 Ore Reserves increased 5% year-on-year to 10.3 million ounces (31 December 2020: 9.9Moz)1
 Gold production of 318,766 ounces at an All-in Sustaining Cost of A$1,381 per ounce2 (US$1,011/oz)3
 Cash position increased to A$1,150.3 million (30 June 2021: A$160.1 million) ahead of the completion
of the Ernest Henry acquisition on 6 January 2022
 Net debt4 of A$449.2 million
 Full year production and cost guidance maintained with business positioned for a very strong second
half of the financial year
Fully franked interim dividend declared based on Evolution’s policy of a percentage of Group free cash
flow, targeting a 50% payout rate per annum
The Directors have declared a fully franked interim dividend of 3.0 cents per share for the half-year (31
December 2020: 7.0 cents per share), an aggregate payment to shareholders of A$55 million. This is the 18th
consecutive dividend paid to shareholders for a total of A$988 million since 2013. The dividend considers the
material lift in cash flow expected in the second half from Ernest Henry and balances capital investment and
balance sheet management with investor returns.
 Dividend amount – 3.0 cents per share fully franked
 Ex-dividend date – 28 February 2022
 Record date – 1 March 2022
 Payment date – 25 March 2022
 Nil Conduit Foreign Income (CFI) component
1 See ASX release entitled “Annual Mineral Resources and Ore Reserves Statement” dated 16 February 2022 for details on Mineral Resources and Ore
Reserves, available to view at www.evolutionmining.com.au
2 AISC (All-in Sustaining Costs) includes C1 cash cost, plus royalties, plus sustaining capital, plus general corporate and admin expense. Calculated on a per
ounce sold basis
3 All USD values in this release have been calculated using the average AUD:USD exchange rate for the half-year of A$0.7319
4 Excluding pre-paid loan fees
Evolution Mining Limited 2
Commenting on the half-year, Evolution’s Executive Chairman Jake Klein said:
“The half-year to 31 December 2021 has been transformational for Evolution. The portfolio has benefitted from
key acquisitions and a significant investment in growth projects at our cornerstone assets, which is supported
by a high-quality Mineral Resource and Ore Reserve base and our business is well positioned to deliver a very
strong second half. Full ownership of Ernest Henry will deliver a material increase in cash flow and financial
performance and was considered when declaring the interim dividend. Evolution’s history of dividend payments
with almost A$1 billion paid since 2013 demonstrates our commitment to maximising shareholder returns.”
ESG performance was recognised with an improved rating from ISS ESG and confirmation of continued
inclusion in S&P Global’s Dow Jones Sustainability Index Australia, ranking Evolution among the top performing
Australian mining companies for corporate sustainability and one of only three gold mining companies in this
category.
Evolution’s FY21 Sustainability Report and FY21 Modern Slavery Statement were published during the period,
and four shared value projects with the Yalka-binbi Girls Academy Program, Galari Agricultural Company,
Kalgoorlie-Boulder Chamber of Commerce and the University of Queensland’s Research for COVID-19 Immune
Response Using Gold were approved.
COVID-19 continues to be a significant focus for the business and the formal crisis management response
protocols remain activated. Whilst the impact to operational performance has not been material to date, positive
cases in the community around Cowal and Red Lake and isolation of close contacts has resulted in up to 15%
of the workforce at those sites unavailable at times during the December quarter.
The Group's total recordable injury frequency (TRIF) was 9.4 as at 31 December 2021 (30 June 2021: 9.6)
The Group recorded a statutory net profit after tax of A$90.8 million for the half-year to 31 December 2021, a
60.3% decrease on the same period prior year (31 December 2020: A$228.7 million). EBITDA margins of 44%
were recorded reflecting the high-quality portfolio and makes Evolution one of the lowest cost gold producers in
the world.
Basic earnings per share was 5.01 cents per share (31 December 2020: 13.39 cents).
The Group's cash balance increased to A$1,150.3 million as at 31 December 2021 (30 June 2021: A$160.1
million). The higher cash balance was due to the proceeds from a US Private Placement in preparation for
completion of the Ernest Henry acquisition which took place on 6 January 2022.
The Group's key operating results for the half-year to 31 December 2021 are as follows:
 Total gold production of 318,766oz at an AISC of A$1,381/oz
 Operating mine and net mine cash flow of A$396.4 million and A$120.4 million respectively
In July 2021, the Group successfully completed a A$400 million fully underwritten institutional placement of
approximately 104 million new fully paid ordinary Evolution shares to institutional investors at a price of A$3.85
per share. The funds raised under the placement were used to fund the acquisition of the Kundana mine and
Carbine project, a 51% interest in the East Kundana Joint Venture (EKJV), and a 75% interest in the West
Kundana Joint Venture (together the Kundana assets). The Group also successfully raised approximately A$68
million under the Share Purchase Plan at A$3.85 per new share in August 2021 with the funds to be used for
general corporate purposes. Both capital issues received exceptionally strong support from the market.
On 13 August 2021, the Group announced that it had received an investment grade credit rating and successfully
priced a US$550 million placement in the United States private placement market. The drawdown of the
inaugural US Private Placement was completed in November 2021, resulting in an increase to cash of A$749.5
million.
On 18 August 2021 the acquisition of the Kundana assets from Northern Star Resources Limited was completed.
The first higher grade ore from Kundana was processed in late August and the first ore processing campaign
for East Kundana (Evolution interest: 51%) was completed as planned in October. Integration activities are
progressing well to bring the operating teams together and to remove duplication of activities.
Consistent with the Group's strategy to continuously seek to upgrade the quality of its portfolio, it was announced
on 5 October 2021 that Evolution had entered into a binding agreement with Navarre Minerals Limited to sell
the Mt Carlton gold mine in Queensland for a total consideration of up to A$90 million. The sale was completed
on 14 December 2021 with Navarre's economic interest in Mt Carlton commencing from 1 October 2021.
On 17 November, the Group announced the acquisition of full ownership of the Ernest Henry operation.
Evolution previously held an economic interest in Ernest Henry which is a large-scale, long-life, copper-gold
Evolution Mining Limited 3
mine located ~38km north-east of Cloncurry, Queensland. An immediate increase in copper production will
reduce the Group's All-in Sustaining Costs and positions Evolution as one of the lowest cost gold producers in
the world. The acquisition was effected via an agreement with Glencore to acquire 100% of the shares in Ernest
Henry Mining Pty Ltd for A$1 billion. To complete the acquisition an initial consideration of A$800 million was
paid to Glencore on 6 January 2022, with the remaining A$200 million due and payable on 6 January 2023. The
transaction was partly funded from a new US$200 million US Private Placement maturing in FY31, at a fixed
coupon of 3.06%, which settled on 14 February 2022.
Today the Company released its annual Mineral Resource and Ore Reserve estimates as at 31 December 2021.
Highlights include a 12% year-on-year increase in Mineral Resources to 29.6 million ounces (31 December
2020: 26.4 million ounces) and a 5% year-on-year increase in Ore Reserves to 10.3 million ounces (31
December 2020: 9.9 million ounces) net of mining depletion of 520,000 ounces. There is excellent potential for
extensions to Mineral Resources and Ore Reserves at Ernest Henry and a Pre-feasibility Study is in progress.
Full details are contained in the annual Mineral Resources and Ore Reserves Statement released to the ASX
and are also available on Evolution’s website www.evolutionmining.com.au.
Dividend payment
The Directors have approved a fully franked interim dividend of 3.0 cents per fully paid ordinary share. The
aggregate amount of the proposed dividend to be paid on 25 March 2022 is estimated at A$55.0 million. The
elevated payout rate for this dividend considers the material lift in cash flow expected in the second half from
Ernest Henry and balances capital investment and balance sheet management with investor returns.
This is Evolution’s 18th consecutive dividend and increases the total amount returned to shareholders, upon
payment of this interim dividend, to A$988 million since August 2013.
This dividend is based on the policy approved by the Board in August 2019 of whenever possible paying a
dividend based on free cash flow generated during a year. The policy targets a payout ratio of around 50% of
cash flow per annum. The Group's free cash flow is defined as cash flow before debt, dividends and any
acquisitions or divestments.
The Board has confirmed that Evolution is in a sound position to meet its commitment under this policy to pay a
fully franked interim dividend for the current period of 3.0 cents per share on 25 March 2022.
Full details of the FY22 Half-Year Financial Results are available in the Appendix 4D released to the ASX today
and are also available on Evolution’s website www.evolutionmining.com.au.

DYOR

i hold EVN ( and have a top up order in sub $3.20 )

this will all be about expectations

SEAT-BELTS ON


----------



## Sean K (16 February 2022)

I'm not sure how this slide can be titled 'highlights'. Unless this has already been factored in. If not, this stock will be crumpled today.


----------



## Sean K (16 February 2022)

The only real positive thing I can see in this slide pack is the resource growth.


----------



## divs4ever (16 February 2022)

i bought my first parcel @ 74.5 cents  in March 2015  ( so for a gold miner it is doing OK  .. aka paying some divs )

 but i suspect this has been partially factored in .. but time will tell 

 but to me this was partly expected  i could see them angling at  the hub and spoke strategy to reduce costs ( not so exciting to the average shareholder )


----------



## Miner (16 February 2022)

Only 3 pc fall


----------



## divs4ever (16 February 2022)

time will tell   , but yes it could have been worse ( or better  for folks like me planning to buy the dip )


----------



## Sean K (16 February 2022)

Jake Klein just did a 15min interview on CNBC about the results and the pre-amble from the hosts was that the reduced earnings were well known to the market. I must have missed that telegraph. He didn't seem phased about it (of course) and was all talk about the growth prospects but nothing about getting back to 2021 earnings. Talked up EH and the copper by-product to work into earnings this year. So, those number mostly factored in. Bit of a shock to me though.


----------



## divs4ever (16 February 2022)

down still .  more than 2% looks like several  missed that memo 

 but i did guess it would be  less than stellar


----------



## mullokintyre (16 February 2022)

Given gold  fell in US market last night, plus the AUD/USD pair went in the other direction, it is no surprise that EVN went down like quite a few others.
NST, SLR and PRU all down 2%.
TIE is my only goldie that went up ( so far).
Mick


----------



## divs4ever (16 February 2022)

KRM and OZL ( which was more of a gold play when i bought in  )  are up for me in that space 

but sadly nothing down enough to tempt me to buy extra


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## Miner (16 February 2022)

EVN price is now up.
Market already factored in to the price, much before the result was announced


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## divs4ever (16 February 2022)

i guess that means i don't buy ( extra ) today 

 oh well ,  there is always next year ( i normally resist chasing )  i bought the last parcel  @ $3.72  in September 2021


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## Sean K (16 February 2022)

Miner said:


> EVN price is now up.
> Market already factored in to the price, much before the result was announced




Mr Market is a miraculous, slippery, enigmatic and mystical beast.


----------



## Miner (16 February 2022)

divs4ever said:


> i guess that means i don't buy ( extra ) today
> 
> oh well ,  there is always next year ( i normally resist chasing )  i bought the last parcel  @ $3.72  in September 2021



Looks like Fat Prophets or Motley Fool saying - they always have a purchase at a very  low price but also bought at a much higher price.  
None of my business but  @divs4ever  I am just  curious what is your average price for EVN having bought at 74.5 cents and $3.72  . I liked the management and company's business considering  almost committed to join EVN at  a decision making role only mid last year .  But I have sold out with a profit of only 20% before they started to dwindle down. Would return again however. 




	

		
			
		

		
	
-


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## Miner (16 February 2022)

Sean K said:


> Mr Market is a miraculous, slippery, enigmatic and mystical beast.



@Sean K - you are sounding like a poet like @barney  today (or a philosopher )
Just be cautious to call Market as Mr. We have changed batsman to batter in cricket to have gender neutral  like we changed Chairman to Chairperson, and UNO is probably going to change _German i_nto _Gerperson_


----------



## Craton (16 February 2022)

From @divs4ever EVN fin. announcement post above:



> Full ownership of Ernest Henry will deliver a material increase in cash flow and financial
> performance and was considered when declaring the interim dividend.





> The elevated payout rate for this dividend considers the material lift in cash flow expected in the second half from
> Ernest Henry and balances capital investment and balance sheet management with investor returns.




*Tongue planted firmly in cheek*
GTK EVN has a least one mystic that can confidently read the crystal ball... 🔮

Seriously though, yes @Miner I did blink and my ears pricked up at that 44c drop coupled with earlier drops late Jan, back then I thought there was bad news afoot as now evident in those bracketed numbers. My buy price (to add to my holding) was not met. Nm, the reduced divvy will still be appreciated.


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## divs4ever (16 February 2022)

'quick and dirty ' ( no profit-taking counted ) is $3.33

 allowing for the sell-downs about 74 cents  ( sometimes it just makes sense to reduce a little )

 i usually just quote 'quick and dirty '  and 'free-carried '  the other way produces some ridiculous  figures  at times


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## Sean K (21 April 2022)

Quarterly out and they're bragging about their group AISC being below $1000, which sounds great on the surface of it. In fact, incredible. However, it doesn't take much to see why. If you take out Ernest H it's not that great. Mr Market agreed this am.


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## Miner (21 April 2022)

Sean K said:


> Quarterly out and they're bragging about their group AISC being below $1000, which sounds great on the surface of it. In fact, incredible. However, it doesn't take much to see why. If you take out Ernest H it's not that great. Mr Market agreed this am.
> 
> View attachment 140627
> 
> ...



Hmm! Looks like you don't like the report.


----------



## finicky (21 April 2022)

Red Lake cost appalling but I guess they deem it a work in progress  - but is it progressing? They've had it a while now. High capital input to AISC. 

They have AIC (All-in Cost) for the group of $1,732 but then a line under that for D&A of $896.
I'm assuming that is additional although I have always thought that AIC included depreciation and amortization, which are real costs even if a bit abstract. Real money has been spent in the past that is accounted for in D&A. If it's *additional* to their AIC figure, that makes the real AIC to me $2,628/oz and that's with the great negative boost to cost from the Ernest Henry contribution. So they've been making nothing?

BtL was warning about these December Quarterlies regarding costs and Covid - so far DCN and EVN have been poor, hoping NST won't be as bad.

not held


----------



## divs4ever (21 April 2022)

maybe i will get that top up price ,   ( in the low $3 range ) yet 

 but isn't EVN still working towards  their hub and spoke strategy ( hoping to reduce costs, increase plant/staff availability )

 ( if so , this should not have been totally unexpected )


----------



## Sean K (21 April 2022)

Miner said:


> Hmm! Looks like you don't like the report.




I only had a superficial look over it this am and the thing that jumped out was the negative $2000 AISC for EH which completely skews the overall costs. Plus, the real AISC was $1,149 because of $10.6m an ounce in 'by-product credits' which took it negative. So, they're been a bit tricky with the heads up numbers IMO. Cowal and Mungari looks OK.


----------



## finicky (14 June 2022)

Not in EVN, NST is my biggest gold producer holding. Charts of most Oz gold producers looking precarious but a reminder of the approximate price most are getting for their product in AUD. Not accounting for hedging and can't remember EVN's degree of hedging.

10 year AUD gold chart looks pretty solid at this date


----------



## Sean K (14 June 2022)

finicky said:


> Not in EVN, NST is my biggest gold producer holding. Charts of most Oz gold producers looking precarious but a reminder of the approximate price most are getting for their product in AUD. Not accounting for hedging and can't remember EVN's degree of hedging.
> 
> 10 year AUD gold chart looks pretty solid at this date
> 
> View attachment 142877




Hold both with SSR and NCM as my gold majors. And PMGOLD. Covering the bases really. Gold, uranium, copper, nickel and zinc are the only things I have mid-long term conviction on going forward.


----------



## divs4ever (27 June 2022)

BUSINESS UPDATE
Following the completion of Evolution Mining Limited’s (ASX:EVN) (“Evolution”) annual planning process, the
Company provides the following update on expected performance for FY22 and outlook for FY23 and FY24.
FY22 Operations Update
In the June 2022 quarter we are expecting production will be 15% higher than the March 2022 quarter at around
170,000 ounces.
The transformation at Red Lake is continuing and we expect production to increase 15% from the March 2022
quarter to produce around 38,000 ounces in the June 2022 quarter.
Production at Cowal was impacted by further wet weather in May which restricted access to the open pit and
Mungari production has been impacted by COVID related staff absenteeism. Since the Western Australian
border opened in early March, over 30% of the workforce (of approx. 500) have been absent for at least 7 days
due to either COVID infection or being deemed a close contact.
FY22 gold production is now expected to be around 640,000 ounces.
FY22 All-in Sustaining Cost (AISC) is expected to be ~$1,250/oz (US$875/oz). The final reported AISC for FY22
will largely depend on the closing copper price for June 2022 which is used to revalue unsettled concentrate
shipments from Ernest Henry. On average there are four months of production that are subject to revaluation.
At the current copper price, this adjustment will negatively impact FY22 AISC. This negative impact will result in
the group AISC being above the guidance range of $1,135 – $1,195/oz (US$795 – US$835/oz).
Sustaining and major capital are both expected to be at the lower end of their guidance ranges (guidance was
$150 – 175 million and $440 - $505 million respectively).
Ernest Henry is on track to deliver over $400 million of mine cash flow for FY22. The integration of the asset has
progressed well. An update of the Mineral Resource model is planned for release in the September 2022 quarter.
This model includes ~42km of additional drilling since May 2021. This will inform the Ernest Henry Extension
Pre-Feasibility Study (PFS) which remains on schedule for completion by December 2022. Drilling results are
expected to extend the copper-gold footprint across the mineralised lenses in the PFS area and below. Further
information on the Mineral Resource model update is included in the presentation titled “Business Update
Presentation” also released today.
The balance sheet is strong with around $900 million of liquidity including $540 million of cash expected at the
end of FY22.
FY23 Guidance and FY24 Group Outlook
Group production for FY23 is guided to increase 12% on the current year to 720,000 ounces +/- 5% and the
outlook for FY24 is expected to increase a further 11% to 800,000 ounces +/- 5%. This will deliver a total increase
of 25% over the two years.
These production levels are lower than our previous plans primarily due to the Red Lake transformation being
achieved a year later than planned. Red Lake production is expected to be 160,000 ounces +/- 5% in FY23,
ramping up to around 200,000 ounces +/- 5% in FY24.
Evolution Mining Limited 2
FY23 Guidance and FY24 Group Outlook (continued)
The FY23 AISC guidance and FY24 AISC outlook is expected to be in line with the current year at approximately
$1,240 per ounce +/- 5% (~US$870/oz). These costs are higher than previously outlined due to industry wide
cost pressures and the lower production at Red Lake. However, this cost level continues to place Evolution as
one of the lowest cost global gold producers.
Sustaining capital is guided to be approximately $190 – $240 million in FY23 with the same outlook for FY24.
This is higher than previously outlined due to the inclusion of capital in FY23 for fleet replacement at Ernest
Henry given the confidence of a mine life extension. The main driver to the change to the FY24 outlook is at
Cowal, due to higher underground mine development rates linked to the latest mine plan. Sustaining capital at
other operations have not materially changed from the previous outlook.
The guidance for FY23 major capital remains unchanged at $530 - $600 million while the outlook for FY24 has
been lowered to $330 – $380 million. The majority of this capital is for development of the Cowal Underground
mine; the transformation of Red Lake; and progressing studies on growth opportunities at Cowal Open Pits,
Ernest Henry Extension, and Plant Expansion at Mungari.
The guidance and outlook for both sustaining and major capital is also being impacted by some investment in
FY22 being deferred or delayed into FY23. This has contributed to capital spend being at the bottom end of
FY22 guidance.
Commenting on the updated outlook, Evolution’s Executive Chairman Jake Klein said:
“Our portfolio is well positioned. Our confidence in the turnaround and potential at Red Lake is growing, the
Cowal underground mine is on budget and schedule and the cash generation and geological upside at Ernest
Henry is outstanding.
Aligned with our strategy, during this period of increasing costs and a challenging labour market all planned
expenditure will be thoroughly assessed and gated with a focus on ensuring we continue to prioritise margins
over volume and earn an appropriate return on capital.
I am confident that Evolution is one of the best positioned gold companies with its high-quality, low-cost portfolio
of assets.”
Evolution Mining Limited 3
Relevant Proportions of Mineral Resources and Ore Reserves underpinning the Production Target
Evolution’s updated Group FY23 and FY24 Outlook for Gold Production comprises 11% Proved Ore Reserves,
80% Probable Ore Reserves, 2% Indicated Mineral Resources and 7% Inferred Mineral Resources.
Cautionary Statement concerning the proportion of Inferred Mineral Resources
There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty
that further exploration work will result in the determination of Indicated Mineral Resources or that the production
targets will be realised.
Material assumptions
Material assumptions on which the FY23 and FY24 Outlook is based are presented in ASX release titled “Annual
Mineral Resources and Ore Reserves Statement” dated 16 February 2022 (available to view at
www.evolutionmining.com.au). An AUD:CAD exchange rate assumption of 0.9 has been used for Red Lake.
▪ Gold: $1,450/oz for Ore Reserves, $2,000/oz for Mineral Resources
▪ Silver: $20.00/oz for Ore Reserves, $26.00/oz for Mineral Resources
▪ Copper: $6,000/t for Ore Reserves, $9,000/t for Mineral Resources
All open pit Mineral Resource estimates are reported within optimised pit shells which have been developed
using a $2,000/oz price assumption and take into account forecast mining costs and metallurgical recoveries.
All underground Mineral Resources (except Ernest Henry) are reported within underground mining shapes
(MSOs) using a $2,000/oz price assumption and take into account forecast mining costs and metallurgical
recoveries.
Ernest Henry Mineral Resource estimate is reported above a 0.7% Cu cut-off grade within the interpreted 0.7%
copper envelope. All open pit Ore Reserve estimates are reported within detailed pit designs and all underground
Ore Reserves are reported within mineable underground shapes (except Ernest Henry). Pit designs and
underground mining shapes have taken into account all applicable modifying factors, forecast mining costs and
metallurgical recoveries and have been developed subject to an economic test to verify that economic extraction
is justified. The economic test includes all applicable capital costs and is performed via a sensitivity analysis
using a range of assumed gold prices from $1,450 to $2,200 per ounce and considers a range of financial
metrics including AISC, NPV and FCF. Assets may use different assumptions withing this range during
optimisation or financial modelling stages depending on specific requirements as documented in their individual
statements.
Glencore commodity price assumptions used to estimate the Ernest Henry December 2021 Ore Reserves cutoff grades are: gold price of US$1,300/oz, copper price of US$6,500/t and AUD:USD exchange rate of 0.75.
The material assumptions upon which the Group FY23 Outlook forecast financial information is based are: Gold
A$2,400/oz; Silver A$30/oz; Copper A$12,500/t; and Diesel A$130/bbl. The material assumptions upon which
the Group FY24 Outlook forecast financial information is based are: Gold A$2,400/oz; Silver A$30/oz; Copper
A$12,500/t; and Diesel A$115/bbl.
Competent Persons Statement
The Ore Reserves and Mineral Resources underpinning the Group FY23 and FY24 Outlook have been prepared
by Competent Persons in accordance with the requirements in Appendix 5E (JORC Code).

DYOR

i hold EVN ( and have a top up order in sub $3.20 , gobbled up at the open @ $3.08 )

this will all be about expectations

SEAT-BELTS ON

 have an extra top up order in @ $2.60 ( SO FAR )


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## Sean K (27 June 2022)

Anyone see what was so wrong with the report to make it crash 15%? Just some inflationary costs by the looks.


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## divs4ever (27 June 2022)

the guidance   !!

 and the guess  staffing issues will persist  while we have virus madness  , are my theory 

 i was expecting the report substance  but not the market reaction ( so far )


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## Miner (27 June 2022)

I am never been a fan of Motley Fool publications even though read occassionally to see their comments.
With EVN I found this one








						Why the Evolution (ASX:EVN) share price crashed despite record results
					

The Evolution Mining Ltd (ASX: EVN) share price is among the worst performing stocks today even as it unveiled its best interim net profit in its history.




					www.fool.com.au


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## finicky (27 June 2022)

I don't think I took enough notice of the rising costs factor - but BtL finance certainly did, warning of bad news coming out in June Quarterlys and suggesting caution towards diesel and electrical power gobbling producers.
EVN at present down 20%. Spillover effect to other producers especially Northern Star, as is reasonable. Northern Star seems to have broken a big support level.


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## divs4ever (27 June 2022)

unless EVN  starts forward hedging the diesel ( like airlines do with their fuel )  fuel costs are much like a 'piece of string ' ( could go anywhere )

 wages should be more predictable ( and controllable )

 now plant maintenance ( and repairs ) might be a real can of worms ( if replacement parts are needed )


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## Miner (27 June 2022)

Hope some watchers on EVN have taken a stab on a probable bargain on EVN today when market punished the stock , I suspect there could be something more to come out but on face value, EVN is still a performer for me.  The price today has been hovering around $2.67 to $2.7 still and could it reach $2.6 by the COB ?.
Would the chartists call it a falling knife and expecting to fall further ???





Extract from FP within copyright provision.

*Mid-week alert –  Evolution Mining (ASX:EVN)*​
_Latest Price: *$2.75 - 18.5%*_
Shares in Evolution Mining have fallen heavily in morning trading, following a June 2022 quarter and full year trading updates. Evolution Mining now expects 2022 guidance to come in lower than their already downwardly revised guidance for the year. Unit costs on the other hand, are expected to come in above 2022 guidance on the lower forecast production number, with the final realised copper price to play a role as well. Weather events and lingering COVID have had a hand in the lower expected production outcome for 2022.
Evolution Mining is forecasting 2023 gold production to come in higher than its 2022 forecast and expects it will arise again in 2024.
Evolution Mining in the latest update, advised it expected to have a cash pool of A$540 million at the end of its fiscal year of 30 June 2022. *We have no concerns around liquidity and the strength of the balance sheet.
Part of the production and unit cost guidance downgrades are beyond Evolution Mining’s control. We take comfort from 2023 and 2024 production outlooks are forecast to rise. *Evolution Mining does have the financial firepower to navigate choppy waters while pursuing growth opportunities.
We will provide a full update on Evolutions’ trading announcement in tomorrows’ Aussie report. *In the meantime, we continue to recommend Evolution Mining as a buy for Members with no exposure to the shares.*


----------



## finicky (27 June 2022)

Posted yesterday by BtL finance, more specific company stuff in other videos for subscribers. Couple of cups of coffee/month level subscription price - I have no affiliation, probably shouldn't be posting even these broader discussions.

Reminds that we are probably not so far off  buying opportunities in the majors although the charts are crap. Although he has lately been tentatively nibbling at some explorer/developers, e.g PDI, STN, as they are not impacted anywhere near as much by the cost inputs that producers bear.


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## Sean K (27 June 2022)

Miner said:


> Hope some watchers on EVN have taken a stab on a probable bargain on EVN today





finicky said:


> Reminds that we are probably not so far off  buying opportunities in the majors although the charts are crap. Although he has lately been tentatively nibbling at some explorer/developers, e.g PDI, STN, as they are not impacted anywhere near as much by the cost inputs that producers bear.




Looks overdone to me. I've nibbled at this and have with a few goldies thinking longer term gold narrative. Hope we're right... eeeek


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## Miner (27 June 2022)

Sean K said:


> Looks overdone to me. I've nibbled at this and have with a few goldies thinking longer term gold narrative. Hope we're right... eeeek



I also nibbled at 2.67 today as  a long term opportunity. Unless there is some inside market factored already to cause the big slide, I do not know.
@debtfree @peter2 @Sean K @finicky @Ann @tech/a @greggles @divs4ever @qldfrog @noirua @Garpal Gumnut 



			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02535272-2A1381150?access_token=83ff96335c2d45a094df02a206a39ff4


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## qldfrog (27 June 2022)

Was a good size holder and even took a bit more today.. do not see these figures as too bad .but could be wrong


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## divs4ever (27 June 2022)

i held several ( EVN ) had chosen the path of MULTIPLE gold producers  spreading  across continents as  well as states ( of operation )

 governments are always a big risk in tough times


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## aus_trader (27 June 2022)

Smashed today...






Ouch !






Hoping for a bear market rally... Entered for July stock tipping compo 🤞


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## divs4ever (28 June 2022)

aus_trader said:


> Smashed today...
> 
> View attachment 143373
> 
> ...



MIGHT be a little softer  again today  ( i have a sub $2.50 in the market , currently )

 however the end of the month is soon  ( and therefore beginning of the month and comp. start ) and the lower it is now , the more room for  upside 

 good luck


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## Craton (28 June 2022)

I've placed a top up/add more order at a tad less than todays low, order is still in the queue.


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## mullokintyre (28 June 2022)

I try(and often fail) to put top up orders on the way up rather than on the way down.
Happy to largely stay on the sidelines until i am convinced a rally is in the offing.
Mick


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## qldfrog (28 June 2022)

mullokintyre said:


> I try(and often fail) to put top up orders on the way up rather than on the way down.
> Happy to largely stay on the sidelines until i am convinced a rally is in the offing.
> Mick



And you are probably right, i jumped back far too early


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## Craton (29 June 2022)

FWIW, as I amended my order to a much lower buy price last night this was filled a couple of hours ago. Thus, could the SP go even lower?
The contrarian in me says, "...more top up opportunities."


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## qldfrog (29 June 2022)

Craton said:


> FWIW, as I amended my order to a much lower buy price last night this was filled a couple of hours ago. Thus, could the SP go even lower?
> The contrarian in me says, "...more top up opportunities."



Yes but that contrarian in me is deep in the red to the point where the inevitable rise of gold may not even be enough to turn positive..
What a debacle..i teally should stop playing discretionary.i never learn my lessons


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## divs4ever (29 June 2022)

i lowered my order ( twice ) today to resist buying today 

 the current order is sitting at $2.36 

 still interested  in buying  , but not desperate


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## Rabbithop (29 June 2022)

Will join in at 2.35. Have to search under the mattress for spare cash ☺


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## divs4ever (29 June 2022)

EVN mid-term  looks a fair bet  , AIS with a longer-term higher risk view   but  gee there are several other appealing gold producers as well 

  am leaning towards ( extra ) EVN in preference to NST  , as EVN has some silver and copper  worth a mention ( in the reports )


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## aus_trader (29 June 2022)

Got cash left to deploy, but only nibbling at this stage...

As @qldfrog said, the price could go even lower and previous purchases could all end up in the red !

However who can predict the bottom to buy at ? Hopefully when the yellow metal turns up, these miners will get change of direction in the future.

Going by the past crypto market news that has resulted in big price declines in major coins and devastation in alt coins, there might still be some deleveraging (margin calls etc) that could send prices lower even in Gold.  But once demand for the yellow metal picks up, the Aussie Gold miners should do well. They'll do even better if the cost pressures on mining due to higher oil prices (fuel costs) has declined by then...


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## Sean K (30 June 2022)

Encouraging to see Jacob Klein buying 50K shares ($135K) on market.


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## divs4ever (3 July 2022)

The Surprising Fall of Gold and the Gold Miners









						The Surprising Fall of Gold and the Gold Miners
					

On 27 June of 2022, many newcomers to share market investing who had heeded the world view that gold provides a safe haven for investors in troubling economic conditions got yet another shock. On that date the third largest gold miner listed on the ASX – Evolution Mining (EVN) – issued a market...




					thebull.com.au
				




no surprise here

rising costs and persistent pressure on the gold price ( to make the $US look strong )


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## divs4ever (3 July 2022)

divs4ever said:


> The Surprising Fall of Gold and the Gold Miners
> 
> 
> 
> ...



 ( i also hold NST and GOR )

 with orders in the market for extra EVN and GOR ( at a cheap price )


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## Craton (14 July 2022)

Sean K said:


> Encouraging to see Jacob Klein buying 50K shares ($135K) on market.



Just an FYI. That link shows:
HTTP Status 404​


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## Sean K (14 July 2022)

Craton said:


> Just an FYI. That link shows:
> HTTP Status 404​




Hopefully this link works.


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## eskys (14 July 2022)

Gold down 1% at this moment.........


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## Craton (15 July 2022)

At the time of writing, in USD the POG is down approx. 5.49% over 30 days, 5.99% over 6 months and  6.46% over 12 months, a 10% correction (or more) is highly likely in the near term.
So, with the EVN SP touching 52 week lows the "correction" appears to be in full swing. Pure speculation on my part of course.
Gotta keep a keen eye on it though, as the SP movement can be swift and buy orders fulfilled before amended.
If the SP heads even lower, I'm OK with DCA as am at approx. 50% of my allocation in $ terms into this stock. I'll also be OK if I don't buy more.


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## Sean K (21 July 2022)

I'm still not quite getting the negative AISCs being announced here and there. 

I'm not seeing huge blow-outs in AISCs announced today. What happened to inflation?


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## divs4ever (21 July 2022)

HOPEFULLY the hub and spoke strategy  , is taking some of the bite out of the cost rises 

 but more likely the way they report 

 i didn't check but are they quoting in $US  since they have a northern hemisphere mine now ?? ( i have been caught like that elsewhere )


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## Sean K (21 July 2022)

divs4ever said:


> HOPEFULLY the hub and spoke strategy  , is taking some of the bite out of the cost rises
> 
> but more likely the way they report
> 
> i didn't check but are they quoting in $US  since they have a northern hemisphere mine now ?? ( i have been caught like that elsewhere )




All in AUD with a translation to USD occasionally.


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## divs4ever (21 July 2022)

finally had time to look at it closer  , but  i suppose EVN has a habit  of low production costs  ( at one mine )

 considering i 'free-carry' some of my stock holdings   , i guess i shouldn't complain too loudly 

 i guess my buy order at $2.20  isn't going to  be hit today 

 oh well , maybe tomorrow


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## aus_trader (29 July 2022)

divs4ever said:


> finally had time to look at it closer  , but  i suppose EVN has a habit  of low production costs  ( at one mine )
> 
> considering i 'free-carry' some of my stock holdings   , i guess i shouldn't complain too loudly
> 
> ...



We are gonna have to bid up I guess as the Gold price is having a big gap up move...


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## qldfrog (1 August 2022)

My monthly competition entry: starting to show life again, and if gold surges..why not.
Low probability of winning as any increase in % will remain small but wirth a go.


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## divs4ever (1 August 2022)

green is always a good  start   ( even better at the end of the month )


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## Miner (18 August 2022)

report arrived.
EVN could not do any worse I believe - every point including AISC - just incredibly poor


			https://evolutionmining.com.au/wp-content/uploads/2022/08/2421186_FY22-Full-Year-Financial-Results-and-Final-Dividend.pdf


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## qldfrog (18 August 2022)

S







Miner said:


> report arrived.
> EVN could not do any worse I believe - every point including AISC - just incredibly poor
> 
> 
> https://evolutionmining.com.au/wp-content/uploads/2022/08/2421186_FY22-Full-Year-Financial-Results-and-Final-Dividend.pdf



So will fall again..one more lost bet for the frog


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## divs4ever (18 August 2022)

$2.20 ???

 i have an order in for extras @ $2.20 

 good luck everyone


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## Rabbithop (18 August 2022)

divs4ever said:


> $2.20 ???
> 
> i have an order in for extras @ $2.20
> 
> good luck everyone



Oh Dear. I put in for 2.50...get out now


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## divs4ever (18 August 2022)

surely you knew a mediocre result was coming during the switch to the 'hub and spoke ' strategy 

 time will tell if it is the best strategy , but i am will to throw a LITTLE  more cash at it  ( for the long term )


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## Miner (18 August 2022)

divs4ever said:


> surely you knew a mediocre result was coming during the switch to the 'hub and spoke ' strategy
> 
> time will tell if it is the best strategy , but i am will to throw a LITTLE  more cash at it  ( for the long term )



EVN dropped much lesser extent than NCM did. Market was expecting it appears for EVN.


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## divs4ever (18 August 2022)

Miner said:


> EVN dropped much lesser extent than NCM did. Market was expecting it appears for EVN.



 CURSES !! 

 oh well will leave the order in for longer


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## qldfrog (30 August 2022)

divs4ever said:


> CURSES !!
> 
> oh well will leave the order in for longer



Got in at 2.32 today..


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## divs4ever (30 August 2022)

moved lowered since it is ex-div  currently around $2.10 

 am in no rush , i see costs rising ( staff and energy )

 was almost tempted to add extra GOR today  ( but decided to watch and see tomorrow )


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## eskys (9 November 2022)

EVN has been badly punished of late. Today, in percentage rise it has done better than NST. EVN up 9.77% now.


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## rcw1 (9 November 2022)

Good afternoon eskys @ Keyes,
Yes nice gain.  Good to see the miners getting on with things today.  
Not holding Evolution at the moment.

Kind regards
rcw1


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## eskys (9 November 2022)

Good afternoon rcw1, EVN did well today. Closing volume almost 34 million compared to:


08/11/20222.1502.1702.1102.15011,355,39407/11/20222.1402.2002.1002.15018,404,86204/11/20221.9802.0401.9752.01011,876,750


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## Rabbithop (9 November 2022)

rcw1 said:


> Good afternoon eskys @ Keyes,
> Yes nice gain.  Good to see the miners getting on with things today.
> Not holding Evolution at the moment.
> 
> ...



row1 shld be very Happy to see how LYC ran today. Not holding yet but watching it.


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## rcw1 (9 November 2022)

eskys said:


> Good afternoon rcw1, EVN did well today. Closing volume almost 34 million compared to:
> 
> 
> 08/11/20222.1502.1702.1102.15011,355,39407/11/20222.1402.2002.1002.15018,404,86204/11/20221.9802.0401.9752.01011,876,750



Demand is there.  Plenty of buyers queued, stacking up for many units.
Phenomenal volume, nice that. 

Kind regards
rcw1


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## rcw1 (9 November 2022)

Rabbithop said:


> row1 shld be very Happy to see how LYC ran today. Not holding yet but watching it.



Hello Rabbithop, rcw1 favourite Rabbit over an above the South Sydney Rabbitoes...  
Yes M8, true that.  Brace yourself... you sitting down... rcw1 not holding LYC at the minute... 

Kind regards
rcw1


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## Rabbithop (9 November 2022)

rcw1 said:


> Hello Rabbithop, rcw1 favourite Rabbit over an above the South Sydney Rabbitoes...
> Yes M8, true that.  Brace yourself... you sitting down... rcw1 not holding LYC at the minute...
> 
> Kind regards
> rcw1



Ouch! Never mind. There are other days n stocks to gain. Also RRL isn't bad today. I think over all our market today is a good swinging up.


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## eskys (9 November 2022)

Hi rabbit, any win is good.....hope we have lots of happy Larrys today. 

EVN's depth has changed, I don't know what to hope for........

Hang Seng having a bit of a bother at the moment. Wondering if they're worrying about the mid term election over there....


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## Sean K (24 November 2022)

Gee, they're good intersections, particularly the copper. These guys are desperate for some good news to get out of the toilet, although most gold seniors have halved over the past year or so. GDX looks to have turned but might be a bear trap too.


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## eskys (24 November 2022)

Demand for EVs are on the rise. Price of copper will go up (has been rising) since they're needed for power


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## eskys (24 November 2022)

Someone has placed a big block at 2.75. Is it a trick or for real, hard to tell until we get closer to that price.

Our dollar now is .6751. Gold 1755, up $9.55 at the moment.


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## eskys (1 December 2022)

Huge volume traded in EVN yesterday................ 


30/11/20222.6902.7302.6402.690 0.020  0.75 238,233,43429/11/20222.5702.7002.5502.670 0.000  0.00 25,378,793


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## Rabbithop (1 December 2022)

eskys said:


> Huge volume traded in EVN yesterday................
> 
> 
> 30/11/20222.6902.7302.6402.6900.0200.75238,233,43429/11/20222.5702.7002.5502.6700.0000.0025,378,793



? Pump n Dump


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## eskys (1 December 2022)

Rabbithop said:


> ? Pump n Dump



You mean me, rabbit? If that's the case, no, not at all. No good pumping after hours and hoping to do a dump; simply won't work. 

Purely from a trading point of view, or investing for that matter, normally, big volumes with a price rise indicates positivity. It's worth taking note I think. But yesterday, the spread was not much if you look at the trade history. Today's rise was helped by the comments made by Powell last night which weakened the greenback.

The other day, there was a big block at 2.75. I was watching and thought it was a trick. Someone was trying to block because they wanted to buy, hoping to scare mums and dads into selling. But it was snatched by a buyer...over 1 million shares was taken in one parcel. Of course, our observations and assumptions can be wrong sometimes...........by the way, I like the way you think, rabbit, haha........2 suspicious minds.........


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## Sean K (1 December 2022)

Ref volume, should see a change in substantial holdings to explain very shortly.


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## Rabbithop (2 December 2022)

eskys said:


> You mean me, rabbit? If that's the case, no, not at all. No good pumping after hours and hoping to do a dump; simply won't work.
> 
> Purely from a trading point of view, or investing for that matter, normally, big volumes with a price rise indicates positivity. It's worth taking note I think. But yesterday, the spread was not much if you look at the trade history. Today's rise was helped by the comments made by Powell last night which weakened the greenback.
> 
> The other day, there was a big block at 2.75. I was watching and thought it was a trick. Someone was trying to block because they wanted to buy, hoping to scare mums and dads into selling. But it was snatched by a buyer...over 1 million shares was taken in one parcel. Of course, our observations and assumptions can be wrong sometimes...........by the way, I like the way you think, rabbit, haha........2 suspicious minds.........



No..I don't mean you did it...I was commenting on your post about Big Vol going thru...


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## eskys (2 December 2022)

Good morning Rabbithop,

I love how our minds work. We interpret what we see and hear in various ways......the brain is a fascinating organ.

I don't think it's the case here, ie, pump and dump. It's an awful lot of money to invest in that kind of activity if the sentiment isn't right. I could be wrong, but someone thinks it's undervalued (which is very possible) EVN has gold and silver mines in Qld and WA, and the share price is barely 2.90. This stock was pushed all the way down to  1.80 a few months ago, and the high for the year was 4.75.  

Right now, gold up $56, and our dollar has hardly moved..........anyway, enough for us to do a song and dance today. Good fortunes to you, rabbit, see you about.


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## Craton (2 December 2022)

Huge volume might relate to this and thus a t/o:


> ASX Announcement
> 24 November 2022
> SIGNIFICANT NEW COPPER-GOLD EXTENSIONS AT ERNEST HENRY
> Key highlights:
> ...



Or maybe the buyer was looking at this *Interactive Analyst Center tool*


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## Sean K (2 December 2022)

Looks like it might have been Blackrock.

There's 5 pages of sells here on 30 Nov, but not sure if it adds up to 200m.


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## eskys (2 December 2022)

Logged back in after being on the road. Sold at open... thought it strange that punters were lining up before market opened to get out after the massive jump last night. The price didn't get past 2.99. Gold has run hard so taking money off the table makes sense. After all the hype and excitement, it's now like a puff of wind....Have a great weekend, folks


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## Sean K (2 December 2022)

eskys said:


> Logged back in after being on the road. Sold at open... thought it strange that punters were lining up before market opened to get out after the massive jump last night. The price didn't get past 2.99. Gold has run hard so taking money off the table makes sense. After all the hype and excitement, it's now like a puff of wind....Have a great weekend, folks




Gold stocks have had a good run recently, but still way off old highs. EVN was $6.50 not too long ago. Gold gain has correlated pretty well with USD weakness, so if USD keeps going down based on probability of interest rate slow downs there still might be some upside. But, might only take a super-inflation number to come out and the Fed will go hard and it'll be down hill again.

(obviously EVN have had a few more issues than just the POG)


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## eskys (2 December 2022)

Sean K said:


> Gold stocks have had a good run recently, but still way off old highs. EVN was $6.50 not too long ago. Gold gain has correlated pretty well with USD weakness, so if USD keeps going down based on probability of interest rate slow downs there still might be some upside. But, might only take a super-inflation number to come out and the Fed will go hard and it'll be down hill again.
> 
> (obviously EVN have had a few more issues than just the POG)



Gold holding well, down a tad at the moment, -$4.45, our dollar holding. Looks like it's going to be ok. Other gold stocks performed well today but not EVN.......I was disappointed in her to say the least........anyway, there's Monday. Until then, have a great weekend, Sean....I'm off to the Christmas carols.........


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## divs4ever (24 December 2022)

my pick  for the Full Year comp.  ( 3 more to come later  )  is EVN

 a tried and tested performer for me 

 now some mathematically   folks gifted may notice EVN did NOT rise over 2022  ( although there are still 3 trading days to go )

so some would ask why would  ask  why would i select it again ?

 well  first off , the gold price suppression MIGHT end this  year  ( see i really am a closet optimist ) OR the Australian dollar might continue to fall , raising local commodity profits 

 over 2022 i bought ( extra ) EVN in 

 May @$3.67 

June @ $3.08 

September @ $1.88

and October @ $1.93

 and more than tripled my holding in the process   ( yes i left the truck at home , but the briefcase   isn't so light any more )

 still plenty of headwinds for the company  , but some rivals are trying to buy their way to growth  ( i don't expect a full take-over but EVN  goes into JVs with some juniors  and just buys stakes in others  , they MIGHT end nicely on the juicy side of that  activity )

 ALTHOUGH  BHP might decide to sell off some of the OZL investments after the take-over completes 

 DYOR


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## Craton (28 December 2022)

EVN is in my 2023 FY stock tipping comp again also.

Creating a Premier global gold company.

It’s all in the name… we’ve evolved from a small company into a globally relevant gold mining business with a reputation of delivering value for all stakeholders. Underpinning it all, is our Australian story and spirit


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## rcw1 (Yesterday at 8:03 AM)

@divs4ever for your favour of consideration...
















						Are Investors Undervaluing Evolution Mining Limited (ASX:EVN) By 49%?
					

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Evolution Mining...




					au.finance.yahoo.com
				




Kind regards
rcw1


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## rcw1 (Yesterday at 8:33 AM)

What's impressing analysts?​
Evolution cut to Sell: Citi

Analysts ha ha ha ha ha...

Kind regards
rcw1


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## Rabbithop (Yesterday at 9:08 AM)

rcw1 said:


> What's impressing analysts?​
> Evolution cut to Sell: Citi
> 
> Analysts ha ha ha ha ha...
> ...



 Good morning Row. And your conclusion???


----------



## rcw1 (Yesterday at 10:05 AM)

Rabbithop said:


> Good morning Row. And your conclusion???



Hey M8,
Don't necessarily pay any attention to the noise, but concentrate on the numbers in real time as you would be aware.
SP has moved from the $1 and $2 levels now for some time.  Still far far away from its 2020 3rd and 4th quarters SP highs.
Note the announcement yesterday re:  ... satisfies earn-in milestone to earn a 75% interest in the Cue Joint Venture.

September 2022 1/4erly revealed FY23 guidance unchanged ▪ FY23 production and AISC guidance remains unchanged at 720,000 ounces +/- 5% and $1,240 per ounce +/- 5% (~US$870/oz)








*September 2022 quarterly publication:*

Group Cash Flow Cash at bank of $398.1 million (30 Jun 2022: $572.4 million) was after _payment of the FY22 final dividend of $55.0 million and $45.0 million in scheduled debt repayments during the quarter. _
In October 2022, Evolution's undrawn Revolving Credit Facility was renewed for three years to October 2025 with the facility increased from $360 million to $525 million on commercial terms in line with the expiring facility. The performance bond facilities were also renewed for a further three years to October 2025. 
This reinforces Evolution’s strong balance sheet with total available liquidity of $923 million.  Achieved copper price includes impact from revaluation process during the quotational period (QP) for Ernest Henry sales 12 Includes additional revolver limit, effective 13 October 2022

So then, yeah rcw1 happy to trade EVN so, buy and sell hopefully fast, but hold, too, at rcw1 discretion.

Have a very nice day today Rabbithop.

Kind regards
rcw1


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## Rabbithop (Yesterday at 11:16 AM)

rcw1 said:


> Hey M8,
> Don't necessarily pay any attention to the noise, but concentrate on the numbers in real time as you would be aware.
> SP has moved from the $1 and $2 levels now for some time.  Still far far away from its 2020 3rd and 4th quarters SP highs.
> Note the announcement yesterday re:  ... satisfies earn-in milestone to earn a 75% interest in the Cue Joint Venture.
> ...



Great to read your reply. I don't own this stock, only on my watchlist and yes, we need to block out those noises. Ok to read n work it out for ourselves. Have a good day.


----------

