Cara Community GSM 50: Evolution Mining

Evolution Mining (USOTC: CAHPF) reviewed 10-10-2020

Market Cap:       $7.3B

Share Price:        $4.29

Shares outstanding: 1,704,413,975

Cash on hand: $373.6 M (AUD) 30 Jun 2020

Long-term Debt: $570 M (AUD) 30 Jun 2020

Current operations: Yes

Insiders: Hold 7%

Institutions: 173 hold about 44% of the float


Investor Presentations:

Australian company, HQs: Sydney.           CEO: Jake Klein

Total Q2 2020 production for the company was 218,104oz. Au at AISC of $715 (USD). Of interest, production from Red Lake was 27,428 oz. Au at an AISC of $1943 (AUD)

Evolution purchased the Red Lake mine in Ontario from Newmont Mining, finalized in Nov 2019

Total Production numbers, July 2019 thru June 2020:

  • 746,463 oz. Au
  • 671,687 oz. Ag
  • 22,471 tons of Cu

The company has seven operational mines (including the Red Lake mine in Canada); all other operations are in Australia

Fully permitted: Yes

Types: Underground and open-pit; primarily gold; silver and copper as by-products

Bottom line:

  • Large Au producer. The company’s Au resources need to be grown. But has exploration potential (1.5 Million acres). Also, the iconic Red Lake mine in Canada is still in the early stages of ramping-up
  • Has debt but good cash flow and low AISCs
  • No position, but would consider it if the stock was TSX- or NYSE-listed

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