September 2025 Quarterly Report

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Stock Evolution Mining Ltd (EVN.ASX)
Release Time 15 Oct 2025, 8:56 a.m.
Price Sensitive Yes
 Evolution Mining delivers record quarterly results
Key Points
  • Favourable safety trend continues with TRIF below 5
  • Record net mine cash flow of $366 million and second highest operating mine cash flow of $676 million
  • On track to deliver FY26 production and cost guidance
Full Summary

Evolution Mining delivered another quarter of safe, consistent, and reliable operational performance, setting a strong foundation for FY26. The company's favourable safety trend continued, with the total recordable injury frequency (TRIF) remaining below 5. Evolution achieved record net mine cash flow of $366 million and the second highest operating mine cash flow of $676 million, with all operations delivering positive net mine cash flow. The company is on track to deliver its FY26 production and cost guidance, with September quarter production of 174koz gold and 18kt copper, and sector-leading all-in sustaining costs (AISC) of $1,724/oz. Evolution's deleveraging efforts continued at pace, with gearing improving to 11% and all bank term loans now repaid. The company has no debt repayments due until FY29. Key projects are also advancing well, with the Mungari mill project on track for commercial production in October and the Cowal Open Pit Continuation (OPC) project progressing as planned. The company's exploration program continues to support its growth objectives.

Guidance

At the FY26 production guidance mid-point and current spot price, estimated operating mine cash flow is expected to increase from $2,755 million to $3,325 million and mine cash flow before major capital is expected to increase from $2,515 million to $3,085 million.

Outlook

Evolution's operations continue to safely and reliably deliver to plan, and the company is on track to deliver its full-year guidance. The company is generating significant cash flow, enabling further financial deleveraging, and its projects are advancing well and remain on schedule, positioning the company well to deliver on its FY26 strategic and financial objectives.