Australian gold producer Evolution Mining (ASX: EVN) reported Thursday that for the year ended 30 June 2023 (FY23), its gold production was 651,155 ounces, up 1.7% compared to FY22 (640,275 ounces).
In a press release, the company noted record annual production at Cowal of 276,314 ounces with a further ~15% increase guided in FY24, adding that Ernest Henry production returned to full capacity by the end of June post the weather event on 8 March.
Moreover, Evolution said that Mungari continued to deliver stable and consistent quarter-on-quarter production, exceeding plan for six consecutive quarters, while Red Lake production increased by 12% to 31,562 ounces with record quarter of mine development at 4,173 metres.
The company also reported FY23 statutory net profit after tax of A$163.5 million (~$105 million), compared to net profit of A$323.3 million (~$207 million) in FY22.
Reserve funds sell gold after a series of FOMC announcements - gold price bottomed at 1888 - 3-month low
XAUUSD
BUY 1891-1893🕯
✅ TP1: 1900
✅ TP2: 1905
⚠️ SL: 1888
In a press release, the company noted record annual production at Cowal of 276,314 ounces with a further ~15% increase guided in FY24, adding that Ernest Henry production returned to full capacity by the end of June post the weather event on 8 March.
Moreover, Evolution said that Mungari continued to deliver stable and consistent quarter-on-quarter production, exceeding plan for six consecutive quarters, while Red Lake production increased by 12% to 31,562 ounces with record quarter of mine development at 4,173 metres.
The company also reported FY23 statutory net profit after tax of A$163.5 million (~$105 million), compared to net profit of A$323.3 million (~$207 million) in FY22.
Reserve funds sell gold after a series of FOMC announcements - gold price bottomed at 1888 - 3-month low
XAUUSD
BUY 1891-1893🕯 ✅ TP1: 1900
✅ TP2: 1905
⚠️ SL: 1888
Comment:
+30 Pips , Move SL to entry ✅✅✅
But Fridays are often unusually volatile days as funds buy gold
Therefore, you should carefully set your TP SL perfectly to avoid market volatility and account failure.✅📣