{"id":8803,"date":"2024-08-10T09:04:32","date_gmt":"2024-08-09T23:04:32","guid":{"rendered":"https:\/\/yinghuiinternational.com\/?p=8803"},"modified":"2024-08-10T09:05:14","modified_gmt":"2024-08-09T23:05:14","slug":"evolution-gold-miner","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/10\/evolution-gold-miner\/","title":{"rendered":"Evolution Gold Miner"},"content":{"rendered":"\n

Gold prices will \u2018be higher in 2025\u2019: Evolution<\/h1>\n\n\n\n

\"\"Olivia Thomson<\/a><\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Image: Phawat\/stock.adobe.com<\/p>\n\n\n\n

Amid the Australian gold price reaching<\/a> $3680 per ounce on August 5, Evolution Mining executive chair Jake Klein predicted that the price will continue to soar.<\/p>\n\n\n\n

\u201cSince we emerged from the fog of COVID-19 in 2022 and the associated travel restrictions, I\u2019ve stood at this podium for the last two years telling you that the price of gold would be higher the next time we meet,\u201d Klein said<\/a> while speaking at the 2024 Diggers & Dealers Mining Forum on August 6.<\/p>\n\n\n\n

\u201cAnd fortunately for me, I\u2019ve been correct this year. I come with the same good news. I\u2019m going for a hat trick: the gold price will again be higher in 2025.<\/p>\n\n\n\n

\u201cIn an excellent recent research piece, Citigroup forecast a base case gold (price) for 2025 to be between $US2700 and $US3000 an ounce. That\u2019s up between $US200 and $US500 an ounce from current prices.\u201d<\/p>\n\n\n\n

The predicted increase comes at a perfect time for Evolution, which has five Australian gold operations<\/strong>: two in New South Wales, two in Queensland and one in Western Australia. Klein shed light on how Evolution has advanced over the years.<\/p>\n\n\n\n

\u201cWe\u2019ve established an outstanding portfolio of gold and copper assets,\u201d Klein said.<\/p>\n\n\n\n

\u201c10 years ago, Evolution had a market capitalisation of around $650 million, which is less than 10 per cent of our market cap today. Average mine life \u2013 based on reserves \u2013 was about seven years, and (we) were producing 440,000 ounces of relatively high-cost gold.<\/p>\n\n\n\n

\u201cToday, we have 33 million ounces of gold and 4.1 million tons of copper in resources. We produce over 700,000 ounces of very low-cost gold, and our average mine life \u2013 based only on reserves \u2013 is at least 15 years.\u201d<\/p>\n\n\n\n

Klein credited Evolution\u2019s growth to its significant exposure to copper.<\/p>\n\n\n\n

\u201cWe have added 75,000 tons of annual (copper) production. (We also credit) our very long mine lives with high quality ore bodies,\u201d Klein said.<\/p>\n\n\n\n

\u201cThe lowest cost investment and highest rate of return is always going to be organic growth. We don\u2019t have to go out and buy new resources to grow production or to extend our mine lives. We already own them.\u201d<\/p>\n\n\n\n

In December 2023, Evolution\u00a0acquired<\/a>\u00a0China Molybdenum Co\u2019s (CMOC)\u00a0<\/strong>80 per cent stake in the Northparkes copper-gold mine in NSW. The purchase was the main driver of Evolution\u2019s\u00a0mineral resource growth<\/a>.<\/p>\n\n\n\n

\u201cThe attractions for us in 2020 were evident and remain the same,\u201d Klein said. \u201c(These include) a 30-year reserve life, an excellent team with deep technical knowledge of caving, great geological upside and immediate cash generation.<\/p>\n\n\n\n

\u201cThe first seven months of ownership have exceeded our expectations in almost every way. We\u2019ve generated $74 million of net mine cash flow, and there is a lot more to come.\u201d<\/p>\n\n\n\n

Evolution is currently implementing a lower capital-intensive sub level cave option at the E48 ore body within Northparkes. It is also currently sourcing ore from Northparkes\u2019 E26 Lift 1 North block cave.<\/p>\n\n\n\n

Klein said that Northparkes has \u201cabundant resources\u201d equalling a 70-years mine life, if all the resources are mined.<\/p>\n\n\n\n

\u201cTherefore, our focus is on near surface, high-grade mineralisation that can leapfrog its way into the production profile,\u201d Klein said.<\/p>\n\n\n\n

\u201cAnd here, even having only owned the asset for seven months, we\u2019re having great early success. This is undoubtedly an asset that would fit well in any gold or copper company in the world. And we are very, very happy owners.\u201d<\/p>\n\n\n\n

Subscribe to <\/em>Australian Mining<\/em><\/a> and receive the latest news on product announcements, industry developments, commodities and more.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold prices will \u2018be higher in 2025\u2019: Evolution Olivia Thomson Image: Phawat\/stock.adobe.com Amid the Australian gold price reaching $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 restrictions, I\u2019ve stood at this … Continue reading “Evolution Gold Miner”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":8804,"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":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[37,206],"tags":[],"class_list":["post-8803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-clients","category-goldcopper"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/yinghuiinternational.com\/wp-content\/uploads\/2024\/08\/evolution-gold-miner.jpg","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-2hZ","jetpack-related-posts":[{"id":1747,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/16\/evolution-to-sell-pajingo-gold-mine-to-chinese-firm\/","url_meta":{"origin":8803,"position":0},"title":"Evolution to sell Pajingo gold mine to Chinese firm","author":"yinghui","date":"August 16, 2016","format":false,"excerpt":"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\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2591,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/01\/30\/edna-may-gold-mine-sold\/","url_meta":{"origin":8803,"position":1},"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 "Mines and Quarry"","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":8803,"position":2},"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 "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8383,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/19\/evolution-updates-ernest-henry-mineral-resource\/","url_meta":{"origin":8803,"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 "Clients"","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":8803,"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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