CAHPF - Evolution Mining: Buy The Dips

• Evolution Mining reported its preliminary Q3 results last week with gold production of 170,000 ounces.
• This was a sharp drop from the same period last year, but this was to be expected given the divestment of Cracow which was contributing over 22,000 ounces per quarter.
• While FY2021 is expected to be a weaker year for the company, the Cowal Expansion and ramp-up of Red Lake operations should be significant growth drivers going forward.
• I continue to see Evolution as a top-10 gold producer given its industry-leading margins and dividend yield, and I would view any pullbacks below $3.85 as low-risk buying opportunities.

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