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Company News Summary

Evolution Mining Announces Potential Sale of Edna May Gold Mine

12 Sep 2017  |  09:10:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Potential Sale of Edna May Gold Mine

Evolution Mining announced that it has recently received a number of offers to acquire its Edna May gold mine and is determining whether the potential sale of the mine is in the best interests of its shareholders and stakeholders. It plans to progress these offers and will update the market if any binding agreement to sell the asset is entered into. The Edna May gold mine achieved an EBITDA margin of 18% in FY2017 and produced 70,188oz representing 8% of its total gold production in FY2017. It has consistently stated that a key objective of its corporate strategy is to increase the quality of its asset portfolio over time. This includes continuously evaluating a wide range of acquisition and divestment opportunities.

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