The following is a summary of the Evolution Mining Limited (CAHPF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Evolution Mining reported a 7.5% increase in group cash flow to $85 million attributed to spot gold and copper prices along with boosted production.

• The all-in sustaining cost per ounce was down 10%, quarter-over-quarter at $1,464.

• Gearing decreased from 30% to 28% in this quarter.

• Plans for higher production in the June quarter, combined with high metal prices, could increase cash flow and reduce gearing further.

• Approximately 95% of production in the next two years is unhedged, providing leverage to the current high spot gold and copper prices.

• Approximately $215 million are anticipated for the June quarter, falling short of the low-end guidance of $245 million. The primary contributor to this is the Cowal mine performance.

Business Progress:

• Significant mineral resource growth was noted at Ernest Henry and Mungari, with a notable increase in proven or probable reserves.

• The mining operation volume is expected to increase in FY '25 and further in FY '26 due to ramp-up in underground mining, offsetting the winding down of stage H in E42 pit.

• Cowal mine showed major progress with more material from underground mining and it is predicted to yield at least 100,000 ounces of gold.

• Mungari saw a boost in output from 32,000 ounces to over 40,000 ounces.

• The expansion for Cowal underground mine is ongoing, with project completion expected in FY '26.

• Evolution Mining reported satisfactory progress for its Cowal OPC project, awaiting regulator's response post the successful public consultation.

• The feasibility study for E22 at Northparkes is ongoing, with a decision expected in H2.

• A potential pump hydro study is in progress, with feasibility to be completed by mid-next year.

More details: EVOLUTION MINING LTD IR

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