Evolution joins Andromeda in gold exploration project

  • Sep 03, 2018 AEST
  • Team Kalkine
Evolution joins Andromeda in gold exploration project

Evolution Mining Limited has entered into an earn-in joint venture agreement with Andromeda Metals Limited (APN) over their wholly owned Drummond Gold Exploration Project located in north Queensland.

Close to EVN’s Mount Carlton operations, Drummond project is an early-stage gold exploration project located in northern Queensland covering 520 square kilometers. As per the joint venture agreement, Evolution requires to make a cash payment of A$300,000 to earn 51% interest in APN’s Drummond project along with A$2 million of exploration spending over a two-year period. 

Moreover, Evolution may elect to raise its equity interest by further 29% for a total of 80% stake through additional cash payment of A$200,000 to Andromeda and spending A$4 million on exploration over two years.

EVN will act as manager and operator of the Joint Venture.

Following the joint venture update, EVN share price surged by 2.075% to $2.705 on 3 September (4:25 PM AEST).

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK