GOLD MINES AND MINING – CANADA

Evolution puts mill expansion on table

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Original article by Nick Evans
The Australian – Page: 14 : 25-Jan-23

Evolution Mining produced 166,404 ounces of gold during the December quarter, which is three per cent higher than the previous three months. Production at the flagship Cowal mine in NSW rose by 33 per cent to 76,676 ounces, although output at the Red Lake mine in Canada fell by 30 per cent to 24,960 ounces. Meanwhile, CEO Lawrie Conway says Evolution has completed a feasibility study on the proposed expansion of the processing plant at its Mungari mine in Western Australia; the company’s board will consider the proposal in February. The expansion was put on hold in mid-2022 due to concerns about rising construction costs and a labour shortage in WA.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN

Australia’s cashed-up gold miners embrace high-risk deals

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Original article by Peter Ker
The Australian Financial Review – Page: 17 & 22 : 29-Nov-19

Evolution Mining is optimistic that all-in sustaining production costs at the Red Lake gold mine in Canada will fall to less than $US1,000 an ounce in three years’ time. Production costs at the mine currently exceed $1,600 an ounce, while gold is trading at $US1,452 an ounce. Evolution’s deal to acquire the mine from Newmont for $US375m ($555m) is part of a growing trend for Australian miners to buy underperforming gold assets with hopes of turning them around.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, NEWMONT GOLD COMPANY, NEWCREST MINING LIMITED – ASX NCM, ST BARBARA LIMITED – ASX SBM, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, NORTHERN STAR RESOURCES LIMITED – ASX NST, OCEANAGOLD CORPORATION – ASX OGC, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, IMPERIAL METALS CORPORATION, BARRICK GOLD CORPORATION, ATLANTIC GOLD CORPORATION

St Barbara confident of Atlantic gold

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Original article by Nick Evans
The Australian – Page: 20 : 16-May-19

Gold producer St Barbara will finance its proposed $768m acquisition of Canada-based Atlantic Gold via a non-renounceable rights offer and cash holdings. Paul Hissey of RBC describes Canada as a "relatively safe move" for St Barbara. Atlantic has forecast that its gold production in 2019 will be within the range of 92,000-98,000 ounces. Newcrest Mining and Northern Star Resources are among the other Australian miners to have bought North American assets in the last year.

CORPORATES
ST BARBARA LIMITED – ASX SBM, ATLANTIC GOLD CORPORATION, RBC CAPITAL MARKETS, NEWCREST MINING LIMITED – ASX NCM, NORTHERN STAR RESOURCES LIMITED – ASX NST, ALLIED GOLD

Newcrest’s $1.1bn North American bet

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Original article by Paul Garvey
The Australian – Page: 20 : 12-Mar-19

Newcrest Mining CEO Sandeep Biswas says more acquisitions are possible following an $US806.5m ($1.1bn) deal to acquire a 70 per cent stake in the Red Chris gold-copper mine in Canada. Red Chris is currently an open-cut mine, but it has the potential to yield significantly more gold and copper by using block caving. Newcrest is also widely considered to be a contender to acquire from Barrick Gold and Newmont Mining if their proposed merger proceeds.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION, IMPERIAL METALS CORPORATION, NORTHERN STAR RESOURCES LIMITED – ASX NST, OCEANAGOLD CORPORATION – ASX OGC, EVOLUTION MINING LIMITED – ASX EVN, ST BARBARA LIMITED – ASX SBM