High Gold Prices Boost Evolution Mining's Record Cash Flow

Evolution Mining (ASX:EVN) has reported record net cash and dividends following high gold and copper prices. The company's revenue is approximately 77% from gold, 22% from copper, and 1% from silver. Evolution was previously contractually obliged to sell 50,000 ounces of gold at $3,140 per ounce but is now completely unhedged.

The company's financial results were despite lower production across the group, with higher commodity prices delivering the windfall. Gold in Australian dollars is around $6,200 per ounce, and Evolution is guiding a similar range of production to last year. At current gold and copper spot prices, its operating cash flow is expected to increase by $200 million.

Evolution's CEO Lawrie Conway said that the record financial performance is on the back of safe, consistent, and reliable operational delivery, complemented by a disciplined approach to cost and capital management. The company has a high-margin business generating significant cash flow with a record group cash flow of nearly $1.4 billion.