Evolution Mining says its annual production guidance for the 2025 financial year of 710,000-780,000 ounces of gold and 70,000-80,000 tonnes of copper remains unchanged, despite a fall in production over the March 2025 quarter.
Lawrie Conway-led Evolution told the market it produced 179,778oz during its most recent quarter, down from 194,793 in December 2024.
This was primarily due to a drop in production at its Cowal operation, due to a 28-day mill refurbishment being undertaken in order for the site’s new extended mine life.
The work is expected to be finalised in coming weeks.
Despite this, Endeavour told the market that production and sales were around 6,000oz greater than expected, citing the drawdown of material in the elution circuit
“Today we also announced the project approval which will extend the Cowal operations to 2042, contributing an additional 2 million ounces of gold in incremental production. Cowal is a world class operation and this project reflects that position with an expected return on investment of around 71 per cent based on the spot gold price,” Mr Conway said.
“We also commenced commissioning of the expanded Mungari mill, which was completed 9 months ahead of schedule and 9% under original budget.”
Tuesday’s update follows on from news earlier this month that Evolution had successfully commissioned its Mungari mill expansion project, coupled by the highlight selling gold for more than $5000/oz {$5045.90} for the first time.
As of 9.33am AWST, Evolution shares were up 2 per cent to $8.04.
