Evolution offloads Edna May mine to Ramelius for $90m

Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 19-Sep-17

Evolution Mining has secured a deal to sell its Edna May gold mine to Ramelius Resources for $A90m. Evolution will receive an upfront payment of $A40m for the mine, while the deal also comprises an additional cash or scrip component and royalty payments. Ramelius MD Mark Zeptner says the company will consider expanding Edna May via either underground or open pit mining. The royalty payments will depend on which option Ramelius chooses, and these payments will not begin until production exceeds 200,000 ounces.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, RAMELIUS RESOURCES LIMITED – ASX RMS, RBC CAPITAL MARKETS

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