UPDATE: Evolution Mining Ltd (ASX: EVN) shares are experiencing a remarkable surge, climbing 7% to $14.46 today following the announcement of record-setting financial results. In just one year, the gold stock has skyrocketed an astonishing 155.5%, despite a 0.4% decline in the ASX 200 index.
This surge comes on the heels of Evolution Mining’s impressive second-quarter results for FY 2026, which revealed an all-time high operating cash flow of $1.1 billion, a staggering 57% increase compared to the previous quarter. Investors are responding positively to these strong financial metrics, driving up share prices in a notable contrast to the broader market.
In addition to the record cash flow, Evolution Mining reported a quarterly group cash flow of $412 million, marking an extraordinary 110% increase from Q1 FY 2026. The miner produced 191,000 ounces of gold and 8,000 tonnes of copper during this quarter.
With the gold price continuing to soar, Evolution Mining achieved an average realised gold price of $6,206 per ounce, reflecting a 20% increase from the previous quarter. Current market conditions show gold trading at a spot price of $6,900 per ounce, which is already 11% higher than the December quarter average.
“Evolution delivered another consistent quarter representing eight consecutive quarters of delivery to plan,” said CEO Lawrie Conway. “Delivering to plan in a rising metal price environment with minimal hedging has generated record cash flow and sector-leading cost performance.”
As of the end of the quarter on 31 December 2025, Evolution Mining holds a cash balance of $967 million, up 24% from the previous quarter. This strong financial position positions the company well for future growth and investment.
Looking ahead, Evolution Mining has reaffirmed its full-year production guidance for FY 2026, projecting 710,000 ounces to 780,000 ounces of gold and 70,000 tonnes to 80,000 tonnes of copper. Management also anticipates a decrease in costs, with forecast AISC for FY 2026 declining by 6%, now estimated to be between $1,640 and $1,760 per ounce.
As Evolution Mining continues to capitalize on rising gold prices and strong operational performance, investors are keenly watching for further developments that could impact share values. With these promising financial results, the outlook for Evolution Mining remains optimistic as it continues to deliver substantial value to shareholders.
