Evolution Mining Limited (ASX: EVN) has concluded its 2026 financial year by meeting group production and cost guidance, underpinned by a strong performance across its portfolio. The company reported full-year production of 715,000 ounces of gold and 66,000 tonnes of copper at a sector-leading all-in sustaining cost of $1,717 per ounce. The June quarter saw a notable 23% improvement in AISC to $1,706 per ounce, reflecting consistent operational reliability as key assets returned to steady output.

"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." — Lawrie Conway, Managing Director and Chief Executive Officer

Financial strength remains a core feature of the latest results, with the producer recording $1,389 million in group cash flow. Following the final delivery of its gold hedge book, Evolution is now fully unhedged across both its gold and copper portfolios. The balance sheet reflects a robust net cash position, closing the quarter with $1,347 million in cash and total liquidity of $1,872 million, providing clear runway for ongoing capital commitments and development plans.

The company’s flagship Cowal project in New South Wales continues to be a central contributor, achieving record operating and net mine cash flows for the year. Operational progress at the site remains on track, with the E46 satellite pit now active and contributing to ore movement. Beyond current extraction, management is advancing long-term productivity improvements, with the development of the Regal portal for a second underground access point currently underway and expected to be completed by the start of the second half of FY27.

Looking ahead, the company is preparing to provide detailed guidance for the next financial year. Investors can expect further clarity on operational targets and capital allocation plans when the business releases its comprehensive FY26 financial results and FY27 guidance on August 19, 2026. These updates will likely provide more insight into the ramp-up schedules for key growth projects and the impact of projected inflationary pressures on sustaining capital requirements and mine development across the broader group operations as the new fiscal year gains momentum.

Read the full announcement: June 2026 Quarterly Report