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EVN, EVOLUTION MINING LIMITED
mullokintyre
post Posted: Oct 12 2020, 09:10 AM
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In Reply To: mullokintyre's post @ Aug 13 2020, 10:19 AM

First Quarters results ahead of forecast, so things looking rosy.
Generating some serious cash flow here.
Mick



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mullokintyre
post Posted: Aug 13 2020, 10:19 AM
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EVN put out another solid return today.
QUOTE
Statutory net profit after tax increased 38% to a record A$301.6 million (FY19: A$218.2 million)
▪ Underlying net profit after tax increased 86% to a record A$405.4 million (FY19: A$218.2 million)
▪ EBITDA increased 41% to a record A$1,029.4 million (FY19: A$730.3 million)
▪ Gold production of 746,463 ounces (FY19: 753,001 ounces)
▪ AISC1 of A$1,043 per ounce (US$700/oz)2 – among the lowest cost gold producers in the world
▪ Operating mine cash flow increased 45% to a record A$1,121.4 million (FY19: A$771.5 million)
▪ Net mine cash flow increased 48% to a record A$736.0 million (FY19: A$497.8 million)
▪ Group free cash flow increased 86% to a record A$541.8 million (FY19: A$291.6 million)
▪ Net bank debt of A$197.4 million at 30 June 2020 (cash A$372.6 million; bank debt A$570.0 million)
Final fully franked dividend of 9 cents per share declared, based on Evolution’s dividend policy of a
payout ratio targeting 50% of free cash flow, resulting in a distribution to shareholders of A$153.4 milli



And its only going to get better according to forecasts (can we trust them??)/
QUOTE
Group gold production and cost outlook:
▪ FY21: 670,000 – 730,000 ounces at an AISC of A$1,240 – A$1,300 per ounce
▪ FY22: 700,000 – 770,000 ounces at an AISC of A$1,220 – A$1,280 per ounce
▪ FY23: 790,000 – 850,000 ounces at an AISC of A$1,125 – A$1,185 per ounce


I suspect my other goldies (RMS, SBM, ALK) will have similar positive results.

Mick



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mullokintyre
post Posted: Jul 9 2020, 12:11 PM
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In Reply To: mullokintyre's post @ Jul 8 2020, 10:34 AM

And right on Cue it ticked above the 6.32 all time high.
Seems that in this market, all is forgiven pretty quickly.
Unless of course you are DCN.
Mick



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mullokintyre
post Posted: Jul 8 2020, 10:34 AM
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In Reply To: nipper's post @ Jun 20 2020, 04:49 PM

The cut in Production was first announced back in ste start on January, so I guess the market was already aware of it.
At the time, sharecafe wrote about it HERE


QUOTE
2020 is looking like being a year to forget for gold miner Evolution even as gold prices have started the year strongly and the Aussie dollar has again faded back well under 70 US cents.

The company ended 2019 with its financial position strong with solid cash flows and no debt.

But thanks to unexpected problems at its Mt Carlton site in Queensland, Evolution looks like being unable to fully exploit the higher gold prices – thanks to rising tensions in the Middle East and Donald Trump’s various brawls with Iran; China – over trade and his impeachment problem.

Thanks to the discovery that its orebodies at Mount Carlton narrower than first estimated, meaning expected profit will be down by up to 27%, leading to a 40% surge in costs per ounce.

The Mt Carlton mine had been forecast to produce 95,000 to 105,000 ounces in the year to June 30, but in an update to the market on Friday, Evolution it had cut forecast output by 27 percent to between 70,000 and 75,000 ounces for the full year.

That means Evolution’s group gold production for 2019-29 will fall short of previous estimates.

At the time, the Sp fell 6% to 3.58.
It would seem that the market has sort of forgotten.
As of today, the SP is now back above 6 handle o 6.19 and approaching all time high of 6.32.
.

Mick




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nipper
post Posted: Jun 20 2020, 04:49 PM
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Evolution Mining dropped 4.6 per cent to $5.25 over the week.


On Friday, Evolution downgraded its full year production guidance, with production from its Mount Carlton mine set to disappoint. The gold miner will also take a $75 million to $100 million writedown on the carrying value of Mount Carlton.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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mullokintyre
post Posted: May 30 2020, 08:59 AM
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In Reply To: bg99's post @ May 29 2020, 10:57 PM

Thats an average of 60,000 per trade, a fair bit higher than normal.
just shy of 10% of its total shares.
Must have been a couple of big parcels changing hands.
Unfortunately, I cant go back and look at the 15,000 odd trades to see the biggies.
Maybe something up.
Mick



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bg99
post Posted: May 29 2020, 10:57 PM
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In Reply To: bg99's post @ May 15 2020, 06:22 AM

over 150m shares traded today at around $6 ..... that's a staggering $900m worth

 
bg99
post Posted: May 15 2020, 06:22 AM
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In Reply To: mullokintyre's post @ May 14 2020, 04:20 PM

a good night for gold.... so it will probably go today and my call yesterday is void

 
mullokintyre
post Posted: May 14 2020, 04:20 PM
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In Reply To: bg99's post @ May 14 2020, 02:20 PM

Ya could be right BG, I am kinda thinking we had the pull back over the last month.
Lots of CB's setting negative real interest rates, QE in pretty much every economy in the world, inflationary pressures starting to appear in foodstuff, and most economies in recession.
As investors get less enamoured with fiat currencies, the PMs will look more attractive.
Mick



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bg99
post Posted: May 14 2020, 02:20 PM
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In Reply To: mullokintyre's post @ May 14 2020, 12:08 PM

I'm betting on a bit of a pull back before this high gets taken out... well done on your GNC pick, the BoM 3 month climate outlook bodes well for a good season

 
 


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