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NEM - Evolution Mining's Q1: Robust Cash Flows Persist
Newmont Mining Corporation
Evolution Mining (OTCPK:CAHPF) released its Q1 2020 quarterly report. As the company reports its financial results on a half-year basis, no income data were provided this quarter. However, the reported numbers show that the operating cash flow and free cash flow remain strong. Moreover, they should improve further over the coming quarters, as on April 1, the $375 million Red Lake gold mine acquisition was completed.
In Q1, Evolution Mining's gold production declined slightly, to 165,502 toz, or by 3.2% compared to Q4 2019 and by 5.9% compared to Q1 2019. An