Evolution Mining (EVN) ....... IT'S EVOLUTION BABY!

"Evolution Mining disappoints market on output, costs, but pledges golden end to year by: Barry Fitzgerald From: The Australian April 24, 2013 12:00AM Increase Text SizeDecrease Text SizePrintEmail
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EVOLUTION Mining has disappointed the market on production and costs for the (third) March quarter but has vowed to finish off the June year with a flourish, enabling it to stick to previous guidance that annual output would weigh in at 370,000-410,000 ounces of gold.
Its shares, already beaten up because of the dramatic slump in gold prices, fell 6c, or 6.3 per cent, to 89.5c yesterday in response to March quarter production from its stable of mines of 84,251 ounces, coming in below production guidance for the quarter of 85,000-90,000 ounces."

Barry Fitzgerald you dork! This does not represent the sentiment of the quarterly report at all!
Just looking to have an explination for the SP decline.
 
Wow, great interview. Thanks for posting. 2% royalty dividend every 6 months. Hedged above $1500 next 4 months.

Last 5 seconds..........."Live from Booondasberg(Bundaberg), Queensland. "
 
Well, went in at what I thought was a low 89 cents........so on my recent form I'd expect a 10% selloff by Friday.
 
Financial performance from march quarter report

Total revenue of A$134.4M (A$172.6M) derived from gold sales of 84,357oz sold at an average price of A$1,573/oz and 62,000oz of by-product silver sold at A$29/oz

Gold hedge book at 31 Mar 2013 152,171oz at flat forward price A$1,573/oz

Group cash operating costs (C1) of A$77.3M in total or A$918/oz. All-in cash cost of A$1,353/oz

Cash in bank of A$7.4M at 31 Mar 2013 and debt drawn of A$106.8M

Cash inflow of A$75.4M consisting of A$50.4M from operations and A$25M from debt drawdown

Cash outflow A$117M on capital expenditure, exploration, corporate expenses and working capital
 
SilverSanchez said:
Financial performance from march quarter report

Total revenue of A$134.4M (A$172.6M) derived from gold sales of 84,357oz sold at an average price of A$1,573/oz and 62,000oz of by-product silver sold at A$29/oz

Gold hedge book at 31 Mar 2013 152,171oz at flat forward price A$1,573/oz

Group cash operating costs (C1) of A$77.3M in total or A$918/oz. All-in cash cost of A$1,353/oz
Click to expand...

Current spot price as I type this is A$1,353/oz. OK, they have hedging in place for about two quarters, but what then ...? :/
 
I wouldn't want to invest into a company that has hedged too far into the future
what if spot goes up next month, they'll be selling at the lower hedged price. But I understand it can goes both ways
 
Makin' money even in a falling market, great management.
My trust is well placed even though Im a Christian, I believe in Evolution Mining ;)
 
Evolution has been on a very impressive roll lately, buying the large NSW gold mine Cowal from Barrick, buying La Mancha's operations, and now today...

Evolution Mining Limited (ASX:EVN) ("Evolution") is pleased to announce its intention to make an off-market takeover offer (the Offer) to acquire all of the ordinary shares of Phoenix Gold Limited (ASX:PXG) ("Phoenix") that it does not currently own. Evolution currently holds approximately 19.8% of the shares in Phoenix.
Click to expand...
The Phoenix tenement package adjoins La Mancha's Australian operations and covers a significant strike length of the highly prospective Zuleika Shear and the Kunanalling Shear (see Figure 1 on following page). Many of the exploration targets developed by Phoenix, on its tenements, are geologically similar to the Frog's Leg mine and the White Foil mine.

On 1 May 2015 Evolution announced that it had reached agreement with Phoenix regarding a strategic investment and partnership. Under the agreement Evolution subscribed for 44 million fully paid ordinary shares in Phoenix at an issue price of A$0.075 per share. On 24 July 2015 Evolution bought an additional 49 million Phoenix shares at A$0.12 per share taking its shareholding in Phoenix to approximately 19.8%.

The close proximity of the Phoenix tenements to the newly built 1.5Mtpa Mungari processing plant creates the opportunity for numerous synergies. Evolution believes that in the current environment in which access to capital for junior mining companies is difficult, Phoenix shareholders will benefit from being part of a larger, well-funded, leading Australian gold company that can accelerate unlocking the potential of the Phoenix tenements.
Click to expand...

Full announcement here:
http://www.evolutionmining.com.au/wp-content/uploads/2015/08/150820-Intention-to-Bid-PXG-F2.pdf
 
Historically high monthly volume for September that delivered the price to the doorstep of 1.30 resistance.
Good breakout today, except for modest volume. Cup & Handle continuation? I would guess yes, and so more to come, but am not buying.
 
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