Evolution Mining (ASX: $EVN) June 2024 Quarterly Report Highlights

Evolution Mining Limited (ASX: $EVN) has reported a robust performance in the June 2024 quarter, with record quarterly group cash flow up 171% to $230 million, gold production up 14% to 212,070 ounces, and a significant reduction in All-in Sustaining Cost (AISC) by 13% to $1,275 per ounce. The company's cash balance increased by 87% to $403 million, and gearing improved to 25%, marking a 23% reduction over the year. Notably, the quarter also saw exceptional results from extensional drilling at the Bert orebody, with the highest-grade gold intercept ever drilled at Ernest Henry.

Managing Director & CEO, Lawrie Conway, on June 2024 Quarterly Performance

We had an outstanding June quarter with sector leading cash generation and low costs which showcase the quality of our portfolio. We achieved multiple records at an operational level and am particularly pleased that June was the strongest month of the quarter which builds momentum moving into FY25. This result is a credit to our team.

Outlook and Corporate Strategy

Evolution Mining's strong performance in the June 2024 quarter sets a positive momentum for FY25. The company's focus on material deleveraging, exceptional exploration results, and sustainability achievements underpin its commitment to responsible and efficient operations. With the appointment of new key executives and the upcoming release of FY24 Full Year Financial Results and FY25 Guidance, Evolution Mining is poised to continue its growth trajectory and deliver value to its stakeholders. The company's unhedged production over FY25 and FY26 positions it to benefit from a rising gold price, while ongoing operational improvements and strategic investments indicate a promising outlook for the future.