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Evolution on track for production guidance

Gold miner Evolution says it is on track to "comfortably" meet its full-year guidance, despite a fall in gold production in the December quarter after it sold a mine in Western Australia.

Gold production in the three months to December 31 fell to 186,488 ounces from 220,971 ounces in the September quarter - which included production from the Edna May mine in Western Australia.

All-in sustaining costs dropped to a record low of $784 an ounce, from $786 an ounce in the prior quarter.

The company said its operating cash flow during the December quarter also fell to $204.7 million, down from $210.4 million in the September quarter.

Evolution in September flagged December quarter production to be lower than the September quarter, after it completed the sale of its Edna May mine to Ramelius Resources for up to $90 million.

The mine, which produced about eight per cent of the group's total gold output, had been the least profitable of its portfolio of seven gold mines.

Australia's second largest gold miner expects production for the full year to be above the midpoint of 750,000 and 805,000 ounces, while all-in-sustaining costs are forecast to be at or below the bottom end of between $820 and $870 per ounce.

Evolution Mining shares gained one cent to $2.77.

Austrlaian Associated PressBack to Breaking News

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