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Updated
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
Note
There was no serious news yesterday 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.✅📣
Note
+30 Pips , Move SL to entry ✅✅✅
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