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EVN, EVOLUTION MINING LIMITED
mullokintyre
post Posted: Feb 19 2020, 09:20 AM
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In Reply To: bg99's post @ Feb 13 2020, 06:34 PM

Some pressure building on buy side.
With gold at 2400 AUD an ounce now, it may well go for a run, especially if the corona virus issue keeps getting worse.
Mick



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bg99
post Posted: Feb 13 2020, 06:34 PM
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In Reply To: mullokintyre's post @ Feb 12 2020, 09:15 AM

the dividend of 7c is a 100% increase on the two previous interim dividends ..... not bad
see https://www.marketindex.com.au/asx/evn

 
mullokintyre
post Posted: Feb 12 2020, 09:15 AM
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In Reply To: mullokintyre's post @ Jan 11 2020, 02:45 PM

EVN half yearly results turned out ok.
Revenue up 20%. EBITDA up 23%
Stat profit up 60%
15 % increase in in dividends.
Up 2.5 % despite falls in gold and increase in AUD v USD overnight.
Mick




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Said 'Thanks' for this post: sprotty  
 
mullokintyre
post Posted: Jan 11 2020, 02:45 PM
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In Reply To: nipper's post @ Jan 10 2020, 10:26 AM

Thought it might have had a bigger drop.
Will add to my holdings anyway.
Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: Jan 10 2020, 10:26 AM
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Evolution said sections of the resource at Queensland's Mt Carlton mine were narrower than expected, and gold production in the year to June 30 would be about 27 per cent lower than previously expected as a result.

The cost of mining the gold will rise from less than $850 per ounce to between $1150 and $1225 per ounce this year.

down 6%



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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
 
nipper
post Posted: Aug 15 2019, 04:57 PM
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QUOTE
Evolution Mining executive chairman Jake Klein has some sage advice for investors wondering whether the meteoric rise in the Australian dollar gold price – up from $1800 an ounce at the end of May to a spot price of about $2250 – can continue.

“You can’t find a gold miner that doesn’t think the gold price is going up. We’re only right 50 per cent of the time – at a maximum,” Klein said on Thursday.

Klein is very sensibly not banking on a rising gold price, and he certainly won’t be rushing to do a big acquisition unless he’s sure it will strengthen the group and deliver value for shareholders.

But what he is determined to do is return excess cash to shareholders while the high gold price means he’s swimming in cash.

Evolution increased its final dividend by 50 per cent to six cents a share, and changed its payout policy from 50 per cent of net profit to 50 per cent of cashflow before debt repayments and M&A.

The company is spending a lot more on mine development and exploration, but Klein wants to do the right thing by investors at the right time.

“This is a time to be rewarding shareholders,” he says. “This is our shareholders’ money and we’re going to give it back to them.”




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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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nipper
post Posted: Jul 11 2019, 12:58 PM
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QUOTE
Shares in Evolution Mining softened slightly on Wednesday despite the company declaring it is back in a net cash position on the back of surging gold prices. Evolution gave shareholders an early look at its quarterly production figures, saying its mines had thrown off $217.4 million in operating cash flow in the June quarter, producing 194,866 ounces of gold, up from 175,901 in the March quarter.

In Aussie dollar terms the gold price lifted from about $1810 an ounce at the beginning of the period to a record high closing on $2045/oz, averaging 1871 for the three months to the end of June. Evolution said it finished the quarter in a $35.2 million net-cash position, with the company holding $335.2 million in cash and bullion and owing $300 million after repaying $30 million worth of borrowings.

While the strong gold price underpinned a solid quarter of cash generation for the gold miner, Evolution confirmed it had missed its cost annual cost guidance on the back of problems hitting high-grade zones in its Mungari operations outside of Kalgoorlie, and at its Mt Rawdon mine in Queensland.

Total production for the financial year of 753,001 ounces was in the middle of Evolution’s 720,000 to 770,000 guidance range, but its annual average all-in sustaining cost (AISC) of $924/oz was $24/oz above the top end of its $850 to $900/oz prediction.

In addition to grade issues at some of its mines, Evolution blamed the high gold price for missing its cost guidance, saying it was forced to pay more than it expected in royalties.

The company said it expects to produce 725,000 to 775,000 ounces this financial year, at an average AISC of $890 to $940/oz.

first time I've heard that : "blamed the high gold price for missing its cost guidance" with increased royalty payments



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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
 
blacksheep
post Posted: Jul 27 2018, 12:07 PM
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In Reply To: blacksheep's post @ Jul 19 2018, 01:50 PM

According to AFR Street Talk

JPMorgan, Citi seek buyers for $257m Evolution Mining block

La Mancha is selling 92 million shares - brokers are seeking $2.79/share.
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 19 2018, 01:50 PM
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In Reply To: blacksheep's post @ Jun 20 2018, 01:48 PM

QUOTE
Notable short alert reported on Friday - might indicate someone thinks the SP is due for a fall?

Updated chart - SP still falling - now $3.03
Shorts also falling - position @ 13/7/2018 = 1.14%
https://www.shortman.com.au/stock?q=evn
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 20 2018, 01:48 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Jun 18 2018, 01:18 PM

QUOTE
Notable short alert reported on Friday - might indicate someone thinks the SP is due for a fall?

Updated chart
SP down - currently $3.40/share
https://www.shortman.com.au/stock?q=evn
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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