The Evolution Mining Ltd (ASX: EVN) share price is in focus today after the gold and copper miner delivered record FY26 cash flow of $1,389 million and maintained a net cash position, while meeting its FY26 group production and cost guidance.
What did Evolution Mining report?
- FY26 gold production: 715,000 ounces; copper production: 66,000 tonnes
- All-in sustaining cost (AISC) in FY26: $1,717/oz, a sector-leading result
- June quarter production: 180,000 oz gold, 19,000 t copper at AISC $1,706/oz (improved 23% quarter-on-quarter)
- Record operating mine cash flow: $3,394 million; net mine cash flow: $2,079 million
- Group cash balance: $1,347 million, with no debt repayments due until FY29
- Record interim dividend: $406 million paid to shareholders
What else do investors need to know?
Operational highlights this year included Ernest Henry returning to full production after weather disruptions and the successful ramp-up of the Mungari mill. All high-return organic growth projects, such as Cowal Open Pit Continuation and the Northparkes E22 development, remain on schedule and within budget.
Importantly, Evolution Mining is now fully unhedged, giving it potential upside exposure to gold and copper prices. The company’s safety performance also remained steady, with a low total recordable injury frequency rate of 5.9 as at 30 June 2026.
What did Evolution Mining management say?
Managing Director and Chief Executive Officer Lawrie Conway said:
FY26 continued to build on the improved consistent performance of the past couple of years, meeting Group production and cost guidance. For the full year, we produced 715koz of gold and 66kt of copper at a sector-leading AISC of $1,717/oz. The June quarter delivered 180koz of gold and 19kt of copper at an AISC of $1,706/oz which improved 23%. We delivered record FY26 Group cash flow of $1,389M at a high margin of $1,958/oz. We are now fully unhedged and in a net cash position with a cash balance of $1,347M. All high-return organic growth projects remain on schedule and budget.
What’s next for Evolution Mining?
FY27 guidance will be formally released on 19 August 2026. Early indications suggest no major changes to production capacity, except for the planned closure of Mt Rawdon. Inflation pressures are expected to lift all-in sustaining costs by roughly $150â$160/oz in FY27, and mine development investment is set to increase to sustain operational reliability and progress key projects at Northparkes, Cowal, and Ernest Henry.
Exploration spend is also flagged to rise in FY27, as the company looks to build on success across its key gold and copper assets and evaluate promising greenfield opportunities. The focus will remain on reliable delivery, margin protection, and prudent capital investment.
Evolution Mining share price snapshot
Over the past 12 months, Evolution Mining shares have risen 53%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.
The post Evolution Mining posts record FY26 cash flow appeared first on The Motley Fool Australia.
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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.