{"id":1747,"date":"2016-08-16T22:19:22","date_gmt":"2016-08-16T22:19:22","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=1747"},"modified":"2016-08-16T22:19:22","modified_gmt":"2016-08-16T22:19:22","slug":"evolution-to-sell-pajingo-gold-mine-to-chinese-firm","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/16\/evolution-to-sell-pajingo-gold-mine-to-chinese-firm\/","title":{"rendered":"Evolution to sell Pajingo gold mine to Chinese firm"},"content":{"rendered":"<p>Evolution has agreed to sell the Pajingo gold mine to <span style=\"color: #ff6600;\">Chinese company Minjar Gold<\/span> for $52 million.<\/p>\n<p>The sale includes the surrounding exploration tenements, and consists of a $42 million up-front cash payment and a one per cent net smelter return royalty up to $10 million for gold production above 130,000 ounces.<\/p>\n<p>\u201cEvolution has grown significantly in the past 18 months and it now makes strategic sense for the asset to be operated by an emerging gold producer that can provide the right level of focus on further extending the mine\u2019s operating life,\u201d Evolution executive chairman Jake Klein said.<\/p>\n<p>The sale is unconditional.<\/p>\n<p><a href=\"https:\/\/www.australianmining.com.au\/uncategorised\/evolution-considering-pajingo-gold-divestment\/\">Evolution first announced its inclination to divest Pajingo last week<\/a>, at the time stating, \u201cEvolution has consistently stated that a key object of its business strategy is to improve the quality of its asset portfolio over time.\u201d<\/p>\n<p>\u201cThis includes continuously evaluating a wide range of acquisition and divestment opportunities that Evolution believes are in the best interests of shareholders. A sale of Pajingo gold mine would be consistent with this strategy.\u201d<\/p>\n<p>Evolution will book a loss of $77.3 million on the sale, based on the carrying value of the asset.<\/p>\n<p>The sale will close on 1 September.<\/p>\n<p>Following the announcement of the sale, Klein thanked the team at Pajingo, adding it \u201chad made a very important contribution to our business over the last six years\u201d.<\/p>\n<p>As a result of the sale, Evolution has cut its production guidance from 800,000-860,000 ounces of gold down to 745,000-800,000 ounces at an all in sustaining cost of $970-$1030 per ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Evolution has agreed to sell the Pajingo gold mine to Chinese company Minjar Gold for $52 million. The sale includes the surrounding exploration tenements, and consists of a $42 million up-front cash payment and a one per cent net smelter return royalty up to $10 million for gold production above 130,000 ounces. \u201cEvolution has grown &hellip; <a href=\"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/16\/evolution-to-sell-pajingo-gold-mine-to-chinese-firm\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Evolution to sell Pajingo gold mine to Chinese firm&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-1747","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-sb","jetpack-related-posts":[{"id":2591,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/01\/30\/edna-may-gold-mine-sold\/","url_meta":{"origin":1747,"position":0},"title":"Edna May gold mine sold","author":"yinghui","date":"January 30, 2018","format":false,"excerpt":"Evolution Mining posts Q4 report, gold down 14.4% January 30, 2018News\u00a0\u00a0Ewen Hosie \u00a0 Evolution Mining has posted its fourth quarter 2017 operational report, and overall gold output fell by 14.4 per cent, when compared with third quarter results, to 186,488 ounces (oz). This was largely attributable to the company\u2019s\u00a0sale of\u2026","rel":"","context":"In &quot;Mines and Quarry&quot;","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2017\/10\/17100917\/Evolution_Site_Map-600x270.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2017\/10\/17100917\/Evolution_Site_Map-600x270.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2017\/10\/17100917\/Evolution_Site_Map-600x270.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":8253,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/06\/05\/the-evolution-of-ernest-henry\/","url_meta":{"origin":1747,"position":1},"title":"The Evolution of Ernest Henry","author":"yinghui","date":"June 5, 2023","format":false,"excerpt":"TOM PARKER The Ernest Henry operation. Image: Evolution Evolution Mining has doubled the copper and gold reserves and extended the mine life to 2040 since it\u00a0purchased the Ernest Henry mine\u00a0outright in January 2022. The completion of Ernest Henry\u2019s mine-extension pre-feasibility study (PFS) \u2013 announced on Monday \u2013 has seen the\u2026","rel":"","context":"In &quot;Clients&quot;","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8803,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/10\/evolution-gold-miner\/","url_meta":{"origin":1747,"position":2},"title":"Evolution Gold Miner","author":"yinghui","date":"August 10, 2024","format":false,"excerpt":"Gold prices will \u2018be higher in 2025\u2019: Evolution Olivia Thomson Image: Phawat\/stock.adobe.com Amid the Australian gold price\u00a0reaching\u00a0$3680 per ounce on August 5, Evolution Mining executive chair Jake Klein predicted that the price will continue to soar. \u201cSince we emerged from the fog of COVID-19 in 2022 and the associated travel\u2026","rel":"","context":"In &quot;Clients&quot;","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2024\/08\/evolution-gold-miner.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2024\/08\/evolution-gold-miner.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2024\/08\/evolution-gold-miner.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2024\/08\/evolution-gold-miner.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2024\/08\/evolution-gold-miner.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":8383,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/19\/evolution-updates-ernest-henry-mineral-resource\/","url_meta":{"origin":1747,"position":3},"title":"Evolution updates Ernest Henry mineral resource","author":"yinghui","date":"August 19, 2023","format":false,"excerpt":"OLIVIA THOMSON Evolution Mining has released an updated mineral resource estimate for its Ernest Henry project. Ernest Henry\u00a0is located 38km north-east of Cloncurry, Queensland\u00a0and is a large-scale copper-gold operation. Its mine life was\u00a0extended\u00a0in June of this year. As of June 30, the Ernest Henry mineral resource is estimated at 101.5\u2026","rel":"","context":"In &quot;Clients&quot;","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2019\/04\/Evolution-1024x447.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2019\/04\/Evolution-1024x447.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2019\/04\/Evolution-1024x447.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2019\/04\/Evolution-1024x447.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":8057,"url":"https:\/\/yinghuiinternational.com\/index.php\/2021\/10\/05\/agreement-to-divest-mt-carlton-gold-mine-for-up-to-a90m\/","url_meta":{"origin":1747,"position":4},"title":"Agreement to divest Mt Carlton gold mine for up to A$90M","author":"yinghui","date":"October 5, 2021","format":false,"excerpt":"\u91d1\u77ff\u516c\u53f8Evolution Mining\u4ee59000\u4e07\u51fa\u552eMt Carlton\u9879\u76ee\uff0c\u80a1\u4ef7\u8d70\u5f3a 2021-10-05 13:44:38 (AET) by Edward Zhang\u00a0\u00a0 3367 \u91d1\u77ff\u516c\u53f8 Evolution Mining\uff08ASX\uff1aEVN\uff09\u5df2\u7ecf\u4e0eNavarre Minerals Limited\uff08ASX: NML\uff09\u8fbe\u6210\u5177\u6709\u7ea6\u675f\u529b\u7684\u534f\u8bae\uff0c\u4ee5\u9ad8\u8fbe9000\u4e07\u6fb3\u5143\u7684\u603b\u4ef7\u51fa\u552e\u6606\u58eb\u5170\u5dde\u7684Mt Carlton\u91d1\u77ff\u3002\u6b64\u5916\uff0cEvolution\u8fd8\u66f4\u65b0\u4e86\u6307\u5bfc\u65b9\u9488\uff0c\u517622\u8d22\u5e74\u7684\u4ea7\u91cf\u5c06\u7565\u5fae\u51cf\u5c11\u523067\u4e07\u81f372.5\u4e07\u76ce\u53f8\u7684\u533a\u95f4\uff0c\u4ee5\u53cd\u6620\u672c\u6b21\u51fa\u552e\u3002 \u6fb3\u80a1\u8d44\u8baf\u5e73\u53f0 - 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The contract, valued at $27 million, includes both underground and surface drilling services at the Pajingo and Cracow gold mines. It will use drill rigs acquired from Nitro Drilling (which is currently in liquidation)\u2026","rel":"","context":"In &quot;Mines and Quarry&quot;","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"pajingo","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/10\/pajingo.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=1747"}],"version-history":[{"count":1,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1747\/revisions"}],"predecessor-version":[{"id":1748,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1747\/revisions\/1748"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=1747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=1747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=1747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}