Tag: Edna May

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...

All images: Ramelius Resources.   BY REUBEN ADAMS   THE acquisition of Edna May in late 2017 represents a step change for Ramelius Resources. The estimated 54 per cent uplift in annual gold production pushes Ramelius through the 200,000ozpa ceiling, while a rock-solid balance sheet paves the way for further growth.   Ramelius Resources chief executive Mark Zeptner presented at the Denver Gold Forum in September last year, just after a complex $90m agreement to acquire Evolution Mining’s Enda May gold mine in WA was locked in. The deal represented the next step in the company’s strategy to build on the strength of its existing WA operations at Mt Magnet and Vivien and establish itself as a profitable and sustainable...