Oct 16, 2019

Record cash flow for Queensland gold miner

Record cash flow for Queensland gold miner The Mount Carlton mine site in North Queensland.

Gold producer Evolution Mining delivered record mine operating cash flow of $278.7 million last quarter.

The company said stand-out performances included the Ernest Henry operation near Cloncurry, which produced 23,378oz at an AISC ( All-in Sustaining Cost) of $414/oz – generating record net mine cash flow of $66.1 million.

Construction is underway on a $60 million project to take the Mount Carlton operation, 150 km south-east of Townsville, underground and extend mining operations there to at least 2025.

Evolution reported that the portal was established during the quarter, about three weeks ahead of plan, and development of the decline was progressing well.

The quarter saw Evolution enter into an earn-in agreement with private entity Basin Gold over the Crush Creek project, 30km south-east of the Mount Carlton operation.

Crush Creek is viewed as offering significant potential to provide mine life extensions at Mount Carlton.

Evolution’s mines also include Cracow and Mount Rawdon in Queensland as well as Cowal in New South Wales and Mungari in Western Australia.



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