By Rhiannon Hoyle
Evolution Mining Ltd. said its first-quarter gold output was higher than the preceding quarter and that costs were also higher, but not by as much as expected.
Evolution reported production of 170,681 troy ounces of gold in the three months through September, which compared to 169,146 ounces in the quarter immediately prior. It was also higher than the 155,000-167,000 ounces Evolution had projected, the company said.
All-in sustaining costs totaled 1,413 Australian dollars (US$1,056) an ounce, up from A$1,239 an ounce the quarter earlier, Evolution said. That was lower, however, than the A$1,450 an ounce the miner had estimated, it said.
The price paid for its gold was also higher, up to A$2,364 an ounce from A$2,286 an ounce over the same period.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com