Evolution Mining lifts FY production

Junior miner expects similar performance in fiscal 2015 after posting a lift in production.

Evolution Mining (EVN) has lifted its full-year gold production and expects to mine a similar amount in the next financial year.

At 11.11am (AEST) Evolution shares were flat at 80.5c, against a slight benchmark index fall of 0.03%.

The junior miner's production for the 12 months to June 30 was 427,703 ounces of gold equivalent, a 9% increase on the 392,920 ounces of gold equivalent produced in the previous corresponding period and in line with original guidance of 400,000 to 450,000 ounces.

In the next financial year, the miner expects to produce between 400,000 and 440,000 ounces of gold equivalent.

The gold miner also reported average cash costs of $772 per ounce, lower than the $790 per ounce reported in the previous corresponding period.  

The miner expects fiscal 2015 cash costs to remain between $750 per ounce and $820 per ounce.

A total capital expenditure of between $135 million and $175m is expected.

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