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Evolution Mining has maintained its guidance for the 2026-27 financial year (FY27) after delivering 154,000 ounces of gold and 18,000 tonnes of copper production during the September 2026 quarter.
The company reported group all-in sustaining costs (AISC) of $1,653 per ounce, supported by copper production and cost discipline, while operating mine cash flow reached $775 million and net mine cash flow totalled $466 million.
Evolution’s cash balance increased to $1.47 billion at the end of the quarter, with its net cash position improving to $141 million.
Managing director and chief executive officer Lawrie Conway said the company remained on track to meet FY27 guidance despite a slower-than-expected start to the year.
“Our focus on preserving our margin, complemented by the upside from our copper exposure, resulted in an all-in sustaining cost of $1,653 per ounce, below the low end of group guidance at a margin of 73 per cent,” Conway said.
“Mine operating and net mine cash flow of $775 million and $466 million were also at a high margin of $4,973 per ounce and $2,990 per ounce respectively.”
Gold production during the quarter included 65,000 ounces from the Cowal gold operation in New South Wales, 40,000 ounces from the Mungari gold operation in Western Australia, 21,000 ounces from the Red Lake gold operation in Canada and 17,000 ounces from the Ernest Henry copper-gold operation in Queensland.
Copper production totalled 18,000 tonnes, including 12,000 tonnes from Ernest Henry and 6,000 tonnes from the Northparkes copper-gold operation in New South Wales.
Evolution said organic growth projects at Cowal, Northparkes and Ernest Henry remain on schedule and budget.
At Northparkes, the board approved $72 million of Evolution’s share of capital for the concentrate regrind and filtration project, which is expected to improve gold recoveries by 2 per cent, copper recoveries by 1 per cent and concentrate grade.
The project is scheduled for completion in the first quarter of FY29.
Exploration drilling is also continuing across the portfolio, with recent results including a 61.3m intersection at 1.26 per cent copper and 0.77 grams per tonne gold at Ernest Henry, up to 900m below the current production level.
Evolution said FY27 guidance remains unchanged across all measures, with production expected to increase through the year.
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