Evolution Mining (USOTC: CAHPF) reviewed 10-10-2020
Market Cap: $7.3B
Share Price: $4.29
Shares outstanding: 1,704,413,975
Cash on hand: $373.6 M (AUD) 30 Jun 2020
Long-term Debt: $570 M (AUD) 30 Jun 2020
Current operations: Yes
Insiders: Hold 7%
Institutions: 173 hold about 44% of the float
Website: evolutionmining.com.au
Investor Presentations: https://evolutionmining.com.au/presentations/
Australian company, HQs: Sydney. CEO: Jake Klein
Total Q2 2020 production for the company was 218,104oz. Au at AISC of $715 (USD). Of interest, production from Red Lake was 27,428 oz. Au at an AISC of $1943 (AUD)
Evolution purchased the Red Lake mine in Ontario from Newmont Mining, finalized in Nov 2019
Total Production numbers, July 2019 thru June 2020:
- 746,463 oz. Au
- 671,687 oz. Ag
- 22,471 tons of Cu
The company has seven operational mines (including the Red Lake mine in Canada); all other operations are in Australia
Fully permitted: Yes
Types: Underground and open-pit; primarily gold; silver and copper as by-products
Bottom line:
- Large Au producer. The company’s Au resources need to be grown. But has exploration potential (1.5 Million acres). Also, the iconic Red Lake mine in Canada is still in the early stages of ramping-up
- Has debt but good cash flow and low AISCs
- No position, but would consider it if the stock was TSX- or NYSE-listed