Evolution Mining has notched up another quarter of record mine cash flows against a backdrop of rising gold and copper prices.
The company today reported an operating cash flow of $600 million, up 7 per cent, and net mine cash flow of $303 million, up 15 per cent, for the first three months of 2025.
Evolution Mining saw an 11 per cent lift in gold price achieved last quarter to $4512/oz, and points to the current spot gold price, around $630/oz higher, which will underpin a further increase in cash generation during the June 2025 quarter.
The Ernest Henry operation in North-West Queensland continues to deliver significant cash flow for the company.
It recorded $149 million of operating cash flow and $100 million of net mine cash flow for the quarter.
Gold and copper production at the site increased quarter-on-quarter by 6 per cent and 4 per cent respectively.
Related: Golden days for Evolution as financial records roll
Evolution said this was driven by consistent and safe performance and incremental improvements across mining, development and processing.
Gold recovery is expected to improve in the June quarter following the commissioning of a flash flotation circuit in the processing plant.
The company’s other Queensland mine, Mount Rawdon, is winding down but continued to deliver meaningful net mine cash flow to the group at $17 million in the March quarter.
Evolution said the remaining low-grade stockpiles at the gold mine would be processed during the June quarter in line with plan.
That site produced 7131oz of gold in the March quarter, while Ernest Henry produced 18,309oz of gold and 12,203 tonnes of copper.
The company’s gold and copper assets also include Cowal and Northparkes in New South Wales, Mungari in Western Australia, and Red Lake in Canada.
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