Tag: Mungari

All images: Evolution Mining. BY ELIZABETH FABRI WITH an absence of distressed sellers in the gold industry, Evolution is putting the brakes on acquisitions – for now – instead focusing on organic growth and achieving debt free status. If gold and copper prices remain where they are today, Evolution Mining could be debt free by the end of the calendar year, according to executive chairman Jake Klein. In the last two and a half years the miner has slashed more than $687 million in debt from its balance sheet and returned $190 million to shareholders in dividends. What’s more, group All-In Sustaining Costs (AISC) were cut by 20 per cent to $784 per ounce in the last 12 months, making Evolution…

All images: Evolution Mining. BY ELIZABETH FABRI AUSTRALIA’S second largest gold miner Evolution Mining’s rise through the ranks over the last seven years has been no fluke. The mid-tier miner’s core strategy — or ‘religion’ as it puts it — is to incessantly improve its portfolio by strategically buying and selling assets, building a business that can prosper through all stages of the cycle. Since its founding in 2011 through the merger of Catalpa Resources and Conquest Mining, Evolution Mining has grown a $50 million business into a $3.7 billion heavyweight. “We started the journey some seven years ago – at that time we were a six-person company with no production,” Evolution Mining executive chairman Jake Klein said. “Our only…