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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Evolution Mining Ltd    EVN   AU000000EVN4

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Evolution Mining : Reports Higher Gold Output, Lower Costs

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01/21/2015 | 11:12pm CEST
   By Rhiannon Hoyle 
 

SYDNEY--Evolution Mining Ltd. (>> Evolution Mining Ltd) recorded its highest quarterly gold production since the Australian mining company was formed three years ago, and said it was continuing to cut output costs.

The company said Thursday that gold production rose 5.7% in its fiscal second-quarter to a record 113,280 troy ounces. Evolution counts Australia's largest listed gold producer, Newcrest Mining Ltd. (>> Newcrest Mining Limited), as a major shareholder.

Higher output of the precious metal was underpinned by a sharp increase in production from its Edna May gold mine in Western Australia state.

The Sydney-based company said it had also slashed costs to an all-time low, 10% below its average in the fiscal year through June 2014. Evolution now expects cash costs for the current financial year to be at the lower end of its earlier projected range of between 750 Australian dollars (US$606) and A$820 an ounce. It reiterated full-year production guidance of 400,000-440,000 ounces of gold.

The company was formed in 2011 through a merger of Catalpa Resources Ltd. and Conquest Mining Ltd., with the concurrent acquisition of Newcrest's interests in the Cracow and Mt Rawdon mines in Queensland state.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

Stocks mentioned in the article : Evolution Mining Ltd, Newcrest Mining Limited
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Financials ( AUD)
Sales 2018 1 599 M
EBIT 2018 413 M
Net income 2018 285 M
Debt 2018 48,1 M
Yield 2018 2,57%
P/E ratio 2018 12,61
P/E ratio 2019 10,33
EV / Sales 2018 2,55x
EV / Sales 2019 2,22x
Capitalization 4 022 M
Chart EVOLUTION MINING LTD
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Evolution Mining Ltd Technical Analysis Chart | EVN | AU000000EVN4 | 4-Traders
Technical analysis trends EVOLUTION MINING LTD
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 2,55  AUD
Spread / Average Target 6,6%
EPS Revisions
Managers
NameTitle
Jacob Klein Executive Chairman
Mark Le Messurier Chief Operating Officer
Lawrie Conway CFO, Executive Director & Finance Director
Evan Elstein Secretary & Vice President-Information Technology
James Edward Askew Non-Executive Director
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