Evolution Mining (ASX:EVN) downgrades production guidance

Company News

by Katrina Bullock

Evolution Mining (ASX:EVN) has downgraded its production guidance for its Mt Carlton operation, with modelling showing smaller orebodies at the site than originally anticipated.

The company now expects a production range of 70,000 to 75,000 ounces for Mt Carlton during the 2020 financial year – a substantial downgrade from their initial estimate of 95,000 to 105,000 ounces.

Group mine operating cashflow reached $233.10 million for the quarter.

Shares in Evolution Mining (ASX:EVN) are trading 6 per cent lower at $3.58.