Evolution Mining Ltd
(ASX:EVN) has announced its preliminary 2016 financial year results.
The company says it produced 800,000 ounces of gold from 7 mines at a very low cost, which resulted in a net cash flow of $405 million.
Also, the Group’s cash balance at 30 June is expected to be around $15 million, and the total debt repaid during the June quarter was $115 million.
The company also announced the appointment of Dr Glen Masterman as its new Chief Geologist and Vice-President of Discovery, effective from 1 August 2016.
Evolution Mining reported a net loss of $15.47 million at 31 December 2015.
