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Evolution delivers more gold

Gold production for Evolution Mining lifted by 16 per cent during the past quarter.

The miner reported to the ASX  that production increased to 172,722 ounces, up from the 148,787oz in the March quarter, while gold sales hovered at 161,066oz, just down from the 162,015oz in the previous quarter.

Output at the Cowal mine in New South Wales bumped up by 14 per cent during the period to 60,899oz, as the new underground mine continued to ramp up.

In Queensland, the Ernest Henry gold and copper mine produced an outstanding result, with 21,337oz of gold and 15,301t of copper, while Mt Rawdon produced 16,304oz of gold.

The Mungari operation in Western Australia contributed 35,561oz of gold.

AISC for the quarter was higher at $1290/oz, up from $990/oz in the March quarter, owing to a lower realised copper price.

For the full year, Evolution’s group gold production reached 640,275oz, with AISC at $1259/oz.

Expecting gold production to increase by about 25 per cent over the next two years, the miner has set a production target of about 720,000oz for the 2023 financial year.

 

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).
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