Evolution provides guidance on their 2018 investor day

evolution mining

Evolution Mining Limited (ASX: EVN) provided its three-year outlook and high-grade drill results on their Investor Day hosted in Sydney today, i.e. 4 September 2018.

In its production outlook, the company has set their gold production expectation to 720 to770 koz, 720 to 770 koz, and 700 to 750koz for the financial year 2019, 2020, and 2021, respectively. As per the company’s information, the production target comprises 96.5% of probable ore reserves, 1.5% of inferred mineral resources and 2% of exploration targets.

However, in AISC outlook the miner places the target of $850 to $900 per oz, $850 to $900 per oz and $870 to $920 per oz, for FY19, FY20 and FY21, respectively. 

The company has also identified new high-grade lode in the recent drilling at Cowal’s GRE46. Cowal is a gold deposit situated approximately 40km north-east of West Wyalong in New South Wales, Australia. This newly discovered lode, Dalwhinnie comprises of well-developed quartz-sulphide breccia (QSB) veins containing grades exceeding 100g/t gold.

In a release to Cowal operation’s progress, the company indicated the expectation of 240 to 250 koz of gold production in financial year 2019. This FY19 guidance for Cowal gold deposit is well below the actual production of 258 Koz reported by the company for the year ended 30 June 2018.  In relation to Cowal operation the company targets to achieve the production rate more than 300kozpa for 20+ years.

On their 2018 Investor day, i.e. 4 September 2018, EVN stock moved up by 5.185% to $2.840. There has been +8% of performance change over the past one year.

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