Evolution Mining reported gold production of 154,000 ounces and copper production of 18,000 tonnes for the September 2026 quarter, and said FY27 guidance remains unchanged across all measures despite a slower than expected start to the year. Group all in sustaining costs were A$1,653 per ounce, which Dow Jones reporting put at about US$1,154 per ounce, below the low end of the company’s cost guidance.
Operating mine cash flow reached A$775 million and net mine cash flow A$466 million. The cash balance rose to A$1.47 billion at quarter end, and the net cash position improved to A$141 million. Cowal in New South Wales contributed 65,000 ounces of gold, Mungari in Western Australia 40,000 ounces, Red Lake in Canada 21,000 ounces and Ernest Henry in Queensland 17,000 ounces. Ernest Henry supplied 12,000 tonnes of the copper, with Northparkes adding 6,000 tonnes.
The board approved A$72 million, Evolution’s share, for a concentrate regrind and filtration project at Northparkes, expected to lift gold recoveries by 2 percent and copper recoveries by 1 percent and improve concentrate grade, with completion due in the first quarter of FY29. Organic growth projects at Cowal, Northparkes and Ernest Henry remain on schedule and budget, the company said.
Exploration drilling at Ernest Henry returned a 61.3 metre intersection at 1.26 percent copper and 0.77 grams per tonne gold, up to 900 metres below the current production level. Management said production is expected to increase through the year.