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Evolution Mining ( (AU:EVN) ) just unveiled an update.
Evolution Mining’s board has approved a suite of growth projects aimed at lifting returns across its portfolio, highlighted by a A$545 million investment to develop the E22 block cave at Northparkes into a long-life, low-cost bulk underground operation. The project, expected to deliver first ore by the end of FY2030 and operate for about nine years at roughly 6 million tonnes per annum, is forecast to generate a 28% internal rate of return at base case metal prices, rising to 38% under upside assumptions.
Complementing E22, Evolution will invest about A$75 million in a Coarse Particle Flotation project at Northparkes to boost copper recovery by around 2%, improve energy efficiency and enable mill throughput to increase to 8 million tonnes per annum by FY2028, while a A$14 million expansion study will assess further mill capacity growth. At Ernest Henry, the company approved a A$160 million development of the Bert deposit to provide incremental feed and better utilise latent mill capacity, and it also moved to acquire the Two Times Fred project and secure an option over the Clisbako project in British Columbia, strengthening its exploration pipeline and underpinning management’s strategy to lift portfolio returns above the current 18% average and sustain higher shareholder value.
The most recent analyst rating on (AU:EVN) stock is a Sell with a A$11.00 price target. To see the full list of analyst forecasts on Evolution Mining stock, see the AU:EVN Stock Forecast page.
More about Evolution Mining
Evolution Mining Limited is an Australia-based gold and copper producer with operations including the Northparkes and Ernest Henry mines. The company focuses on developing long-life, low-cost underground operations and expanding its exploration pipeline, including new prospects in Canada’s British Columbia, a region known for large, long-life gold and copper deposits.
Average Trading Volume: 6,600,673
Technical Sentiment Signal: Buy
Current Market Cap: A$29.12B
For an in-depth examination of EVN stock, go to TipRanks’ Overview page.