Evolution Mining Slashes FY20 Production Guidance by 1.14 per cent

Evolution Mining Limited (ASX:EVN) stated that the FY20 production from Mt Carlton would now stand at 60,000 ounces, leading to a 1.14 per cent decline in the overall Group’s FY20 production.

  • The miner reduced FY20 gold production guidance at Mt Carlton by 14.28 per cent against the lower range of the previous guidance of 70,000 to 75,000 ounces of gold.
  • Furthermore, EVN has established a non-cash impairment in the range of $75 to $100 million post-tax, which would be recorded in accounts of the financial year 2020.
  • EVN further estimates the FY20 gold production for the Group, excluding the Red Lake gold mine, would stand ~ 715,000 ounces, down by 1.4 per cent against its previous guidance of ~ 725,000 ounces.

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