The Evolution Mining Ltd (ASX: EVN) share price is up 2.66% in trade today after releasing its third quarter report.
Evolution Mining Ltd is an Australian gold mining company, focusing on mining and exploration operations in Australia.
The report highlights included new quarterly records set for gold production of 220,971 ounces, operating mine cash flow of A$210.4 million, and net mine cash flow of A$158.3 million.
The sale of the Edna May gold mine to Ramelius Resources Limited (ASX: RMS) was successfully completed on 3 October 2017. Evolution has received the A$40 million in an upfront cash payment from Ramelius. The sale agreement also includes up to A$50 million of contingent payments.
Evolution invested A$2.5 million for a 15.1% cornerstone shareholding in Riversgold Ltd (ASX: RGL) which listed on the ASX on 10 October 2017. Riversgold is a gold-focused exploration company.
The gold price currently sits at US$1,304 an ounce, with a 1 week return of 1.40%.
