CAHPF - Evolution Mining: Bateman Acquisition Bolsters An Already Enviable Organic Growth Profile
- Evolution Mining released its fiscal Q3 results last week, with quarterly gold production of ~161,300 ounces.
- This softer quarter was driven by lower production from the company's flagship Cowal Mine and Mungari, offset by record production from Evolution's Red Lake Mine.
- The good news is that the company is set up for a strong fiscal Q4 and should be able to meet its FY2021 production guidance of ~700,000 ounces.
- Given Evolution's enviable organic growth profile with added processing capacity in Red Lake and the Cowal Expansion, I would view any pullbacks below US$3.40 as low-risk buying opportunities.
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Evolution Mining: Bateman Acquisition Bolsters An Already Enviable Organic Growth Profile