News Articles for Evolution Mining

Saracen Mineral Holdings managing director Raleigh Finlayson has told today's WA Mining Club lunch that local mid-tier gold miners had squandered a share price premium during the boom years, but had since built up a strong case to trade at above underlying value.

IT might not feel like it, but there are early signs of boom conditions forming in some parts of the state's mining industry, with two sectors in particular benefiting from events in the markets for commodities, labour, and capital equipment.

Civil contractor and mining services company SRG Limited says it is well positioned for further growth on the back of recent contract wins, after booking a 52 per cent lift in net profit in the 201

Evolution Mining will pay Glencore $880 million in a deal to take an interest in the Ernest Henry copper and gold mine in Queensland.

Gold's rising stocks and role in the post-boom recovery will make this year's Diggers & Dealers the most promising for many years.

Gold production and cash costs have both outperformed financial year guidance for Regis Resources, with shares in the company enjoying solid gains today.

Evolution Mining has underlined its bullish outlook by doubling dividend payouts after posting record gold production, in line with its target guidance.

The Australian dollar gold price hit an all-time record of $1,826 an ounce today after Britain elected to leave the European Union, with shares in local gold miners rallying strongly even though the broader stock market tumbled more than 3 per cent.

London's FTSE100 index crashed more than 7 per cent in the first few minutes after markets opened around 4pm AEST, as voters in the UK elected to leave the European Union by a 52-48 margin, prompting Prime Minister David Cameron to flag his resignation.

Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.

Evolution Mining expects to benefit from higher gold prices and renewed interest in the sector despite swinging to a $15.5 million half-year loss.

Gold miner Evolution Mining has lifted its full-year production guidance after strong output from recently acquired mines took production to record levels.

Diversified contractor SRG has won a new contract plus an extension to an existing contract to provide its services to several of Evolution Mining's gold mines, worth a combined $150 million.

SPECIAL REPORT: One of the few positives in a tough year for business was the gold sector, and at the forefront was Northern Star Resources, under the leadership of Bill Beament.

Talisman Mining, Evolution Mining and Kalgoorlie Consolidated Gold Mines are among a number of miners to win state government exploration grants, with gold, nickel and copper the most popular commodities targeted.

Evolution Mining says it's close to completing its protracted acquisition of smaller rival Phoenix Gold.

Evolution Mining appears close to finalising a protracted takeover bid for smaller rival Phoenix Gold, with both companies announcing their boards had reached an agreement after Evolution increased the cash component of its offer.

Bruce McFadzean says mining executives need to rethink their remuneration structure, after joining Sheffield Resources on a package that ties most of his income to development of the Thunderbird mineral sands project.

Phoenix Gold has reiterated shareholders should reject a cash and scrip takeover offer from Evolution Mining, even though a rise in Evolution's share price has boosted the value of the deal.

Phoenix Gold shareholders will be hoping for an improved takeover offer from Evolution Mining, after a proposal to acquire the business was knocked back by Phoenix directors today.

An independent expert's report has put a minimum valuation on Phoenix Gold shares of 15.6 cents, well above the two competing takeover offers for the Kalgoorlie company.

If ever Western Australia is to have another slogan on vehicle number plates, then the favourite has to be a return to the short-lived ‘Golden State' catchphrase.

Northern Star Resources, Saracen Mineral Holdings and Evolution Mining have highlighted a profitable year for the gold mining sector.

Three fast-growing gold miners have undertaken further expansion moves in Western Australia, with Evolution Mining announcing its intention to make a takeover offer for Phoenix Gold.

The past year has marked a period of major change at many of WA's gold producers in terms of personnel and pay.

Gold is a rare bright light in the mining industry, with major changes during the past two years to be followed by the opening of multiple new mines and more M&A deals. Click through to find the special report, which ranks WA producers, and looks at Gold Corp, executive pay, and new gold projects.

Chinese company Zijin Mining Group has pressed ahead with its unsolicited takeover bid for Phoenix Gold, despite Evolution Mining's recent on-market acquisitions at a price 20 per cent above that which Zijin is offering.

Evolution Mining has recorded record quarterly and annual production on the back of an “outstanding” result at its Edna May mine, adding to the ranks of gold miners to post impressive results this month.

Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.

Phoenix Gold has taken a planned vote on an alliance with Evolution Mining off the agenda of its general meeting, being held today, after Zijin Mining Group made a play to take ownership of the company in a cash deal worth $47 million.

New resources opportunities will emerge in WA as older projects start to wind down production, or are closed.

The tussle for control of Phoenix Gold intensified today after Zijin Mining Group struck a pre-sales agreement with one of the miner's largest shareholders, boosting its interest to 17.9 per cent ahead of announcing a cash takeover bid that values the business at $47 million.

Jonathan Price has announced his resignation as managing director of Phoenix Gold, in a board shake-up that bumped Dale Rogers up to executive chairman.

Evolution Mining has bought a large stake in a local gold mining company with tenements near La Mancha's mines and processing plant near Kalgoorlie, which Evolution is also buying.

Shares in local gold miners have dominated on the ASX today after the spot price for the precious metal jumped by over 2 per cent overnight to $US1,203.30 an ounce

Gold company Evolution Mining has finalised its purchase of La Mancha Resources' Australian assets and secured $100 million in financial firepower to continue its growth opportunities.

La Mancha Resources has signed an agreement to acquire up to 70 per cent of Perth-based explorer Intermin Resources' Binduli gold project near Kalgoorlie.

The latest numbers from Western Australia's listed gold miners show they remain under pressure from rising costs and a falling global gold price, with some local producers concerned that changes to the state's royalty system might erode margins beyond break-even.

Gold miner Evolution Mining has reported a $50 million net profit after tax largely due to starting commercial production at its Mt Carlton mine and significant cost reductions in response to a lower gold price.

Perth gold explorer Emmerson Resources has completed raising $1.87 million through a 49 million share placement to Evolution Mining, satisfying all conditions precedent to the joint venture agreement.