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.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.