Solstice Gold Announces Transformative Acquisition of globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
Evolution Mining s Red Lake gold operation in Ontario. Credit: Evolution Mining
In the first six months of fiscal 2021,
Evolution Mining (ASX: EVN) banked over 50% of every ounce of gold it produced in terms of its EBITDA margins, posted a return on equity of 18%, and issued an interim dividend of US$247 per oz., or about 12% of its revenue, well above its peers.
”It’s been all about a journey of trying to improve the quality of our assets and focusing mostly on margin and return on capital rather than on volume,” Jake Klein, the company’s founder and executive chairman, told participants in The Northern Miner’s second-quarter Global Mining Symposium. “We’re not convinced that producing more gold and making the same or less money is better than producing the most profitable ounces.”
Global Mining Symposium: Evolution Mining CEO on margins over volume mining.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mining.com Daily Mail and Mail on Sunday newspapers.
"The new Bateman mill will also accelerate our ability to achieve our objective of producing more than 300,000 oz. per year of gold from Red Lake," says Evolution executive chair Jake Klein.
Wednesday's analyst upgrades and downgrades - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.