Evolution Mining doubles profit and jacks up dividend on record gold surge
The Sydney-based miner, which recently completed a major production expansion to the Mungari mine near Kalgoorlie, increased statutory profit by 119 per cent to $926 million for the 2025 financial year.
Prices for the tumult and inflation-hedge driven commodity reached an all-time high in April, sending Evolution's achieved gold price up 35 per cent to $4300 on the 750,512 ounces of gold produced during the year.
All-in sustaining costs of $1653 an ounce were up 12 per cent, however, as the miner made the most of higher prices and processed its lower-grade stockpiles.
The board declared a fully franked final dividend of 13¢ a share for the year, compared to 5¢ a share in the prior year.
Evolution chief executive Lawrie Conway said the miner would be focused on delivering high margins in the new financial year, when it expects to hit production of between 710,000 and 780,000oz.
'Our cost and production performance in the year saw our balance sheet continue to strengthen, with gearing levels falling while successfully delivering several major capital projects,' he said.
Evolution runs two mines in NSW, two in Queensland, and one in WA — the Mungari gold project, about 20km west of Kalgoorlie. It also owns the Red Lake mine in Canadian province of Ontario.
It's among the first gold miners to report for the 2025 full-year results period.
More to come.
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