EVN - Evolution Mining

[LeFeek]

If I recall your pie chart, you hold EVN @Sean K ? I will be considering it more closely. I have never liked it and the apparently poor high cost Red Lake acquisition confirmed my avoidance. But this result shows they can perform well despite the drag of Red Lake and their guidance is pretty persuasive for FY25. But based on a guess of not much more than 10% ROE for FY24 (I haven't done the sums) it seems about fairly priced on current earnings. But I am an optimist on the 'medium term' gold price and their hedging is trivial which I hadn't known before, so a more valuable company in future possibly.

Not Held

Yeah, I hold EVN and they're performing well despite Red Lake. Guidance for FY25 looks good and I'm optimistic on medium-term gold prices. Worth a closer look!

 

[divs4ever]

Evolution Mining FY24 Earnings Call Highlights​

Evolution Mining FY24 Earnings Call Highlights

Evolution Mining (ASX: EVN) reported a clean sweep of better-than-expected revenue, EBITDA and net profit for FY24, boosted by soaring gold prices, higher production and stabilising costs.

www.marketindex.com.au

i hold EVN

 

[rcw1]

Good afternoon
EVN having a good time of it of late.

Not holding
Have traded a million years ago

Kind regards
rcw1

 

[finicky]

Market Matters afternoon report:

Evolution Mining (EVN) +6.82% rocketed today after it released solid quarterly production numbers highlighting its continued low-cost profile and improving free cash flow. The group also announced positive drill results at existing sites. Executing operationally once again – big tick for EVN!
The rest of the gold sector maintained momentum – Regis Resources (RRL) +6.67% , Newmont Corporation (NEM) +2.58% and Northern Star (NST) +1.82% all up 3 out of the last 4 sessions.

Not Held

 

[finicky]

Evolution eyes nearly $2b of cashflow​

Evolution Mining has started the 2024–25 financial year strongly, delivering high-margin cashflow growth.

Evolution produced 193,554 ounces of gold and 19,059 tonnes of copper in the September quarter, with an all-in sustaining cost (AISC) of $1569 per ounce, maintaining one of the sector’s lowest-cost profiles.

The company’s operating mine cashflow reached $429 million, representing a 61 per cent margin of $2227 per ounce.

Evolution generated group cashflow of $108 million, bringing the company’s cash balance to $484 million, compared to $403 million at the end of June 2024.

“It is very satisfying to start the year in a positive way with a first quarter on plan with an improved safety performance,” Evolution Mining managing director and chief executive officer Lawrie Conway said.


“With spot prices well above the achieved prices in the September quarter and the business delivering to plan, we are on track for over $1.9 billion of operating cash flow for the year.”

Safety performance saw a significant improvement, with the company reducing its total recordable injury frequency (TRIF) by 7.4 per cent to 7.12.

Scheduled shutdowns at the Ernest Henry, Cowal, and Northparkes mines were completed successfully, supporting steady production levels.

Among its key operations, Red Lake delivered a record quarter with 37,319 ounces of gold production and a net mine cashflow of $67 million.

The Mungari mill expansion project, Mungari 4.2, remains on schedule and within budget.

Evolution said it remains on track for its 2024–25 production guidance of 710,000–780,000 ounces of gold and 70,000–80,000 tonnes of copper at an AISC of $1475–1575 per ounce.

Evolution eyes nearly $2b of cashflow

Evolution Mining has started the 2024-25 financial year strong, delivering a solid operational performance and high-margin cash flow growth.

www.australianmining.com.au

Not Held

 

[Craton]

Nice uptick, still roughly a buck and a half off all time high.