Evolution narrows 2018 guidance range

Evolution mining expects group production to be between 790,00 and 805,000 ounces, up from a previous guidance of between 750,000 and 805,000.

Gold miner Evolution Mining has narrowed its full year production guidance range after increasing output in the March quarter.

The company produced 191,474 ounces of gold in the three months to March 31, up three per cent on the December quarter.

The rise was driven by strong production from Evolution's Queensland mines, Mt Rawdon and Ernest Henry.

Evolution expects full year production at Mt Rawdon to be below its previous guidance range, and the Ernest Henry mine is forecast to hit the top end of the its guidance range.

Evolution said production in the June quarter is likely to be similar to the March quarter, and forecast overall production for the financial year to be in the range of 790,00 to 805,000 ounces, compared to its previous guidance range of 750,000 to 805,000 ounces.

Evolution shares gained three cents to $3.36.


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Source: AAP


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