Evolution Mining has released its September quarter results, detailing what it has called “another quarter of safe, consistent, reliable delivery” that continues to lay a strong foundation for the company’s growth.
Evolution managing director and chief executive officer (CEO) Lawrie Conway said that operations continued to deliver to plan and were on track to deliver full-year guidance.
“We are generating significant cash flow, enabling further financial deleveraging and our gearing improved to 11 per cent,” Conway said.
“The Mungari mill is on track for commercial production this month following a successful ramp up, while the Cowal OPC project is being executed to plan, positioning us well to deliver on our FY26 strategic and financial objectives,” he said.
The company noted it had no debt repayments due until FY29, and that its cash balance increased to $780 million following debt repayments of $170 million during the quarter.
Conway highlighted a favourable safety trend with total recorded injury frequency (TRIF) remaining below 5.0.
“Our excellent safety performance continues to be an important leading indicator of operational delivery. Our projects are also advancing well and remain on schedule,” he said.
Evolution recorded a net mine cash flow of $366 million and second highest operating mine cash flow of $676 million delivered with achieved prices in line with FY26 cashflow guidance.
The company said it was on track to deliver FY26 production and cost guidance with September quarter production of 174koz gold and 18kt copper and AISC of $1,724/oz.
It had a projected upside to cash flow of around $570 million based on current spot gold and copper prices.
These results have followed similarly strong results from Evolution’s last quarter when it capped off the June quarter with a record quarterly cash flow of $308 million, driven by strong operational delivery and soaring gold prices.
The June quarter also saw a record mine operating cash flow of $697 million, up 16 per cent from the March 2025 quarter with all sites delivering positive net cash flow.
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