Evolution Mining (ASX:EVN) downgrades production guidance

10Jan

Evolution Mining (ASX:EVN) downgrades production guidance

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Evolution Mining (ASX:EVN) has downgraded its production guidance for its Mt Carlton operation, with modelling showing smaller orebodies at the site than originally anticipated.

The company now expects a production range of 70,000 to 75,000 ounces for Mt Carlton during the 2020 financial year – a substantial downgrade from their initial estimate of 95,000 to 105,000 ounces.

Group mine operating cashflow reached $233.10 million for the quarter.

Shares in Evolution Mining (ASX:EVN) are trading 6 per cent lower at $3.58.

Copyright 2020 – Finance News Network


Source: Finance News Network

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