ASX:EVN - Gold & copper producer
Evolution Mining (ASX:EVN)
Cadia, Cowal, Ernest Henry, Mungari, Mt Rawdon, Red Lake - NSW, QLD, WA, Ontario
as of 13 Nov 2026, 4:11 pm
EVN share price - with every decoded announcement marked
About Evolution Mining
A major gold producer with meaningful copper by-product, owning a stake in the giant Cadia gold-copper operation in NSW, Cowal, Ernest Henry in Queensland, Mungari in WA and Red Lake in Canada.
- ASX code
- EVN
- Commodity
- Gold & copper
- Stage
- Producer
- Projects
- Cadia, Cowal, Ernest Henry, Mungari, Mt Rawdon, Red Lake
- Where
- NSW, QLD, WA, Ontario
Decoded
EVN announcements, analysed
Evolution September quarter: 154koz gold, A$1,653/oz AISC, A$1,470M cash; FY27 guidance held
ASX: "September 2026 Quarterly Report"
Evolution produced 153,616oz of gold and 17,915t of copper in the September 2026 quarter at a group AISC of A$1,653/oz, and ended with cash of A$1,470M. FY27 guidance was held, but the CEO called the start slower than expected...
Carnaby scheme booklet registered with ASIC; Evolution scheme vote was set for 26 October 2026
ASX: "CNB: Scheme Booklet registered with ASIC"
Carnaby Resources has registered its scheme booklet for Evolution Mining's proposed acquisition, under which Carnaby holders would receive 0.0682 new Evolution shares per Carnaby share. The board unanimously recommends a yes vote...
Evolution capital update: FY26 dividends A$833m, net cash, A$1.9B liquidity; no new drilling
ASX: "Capital management"
Evolution's 15 September 2026 capital management presentation restates FY26 results: A$833m of dividends, a net cash position and A$1.9B of liquidity at June 2026. FY27 guidance is restated, and the deck contains no new drilling...
Evolution reports new Cowal, Northparkes and Ernest Henry drill results; no resource update
ASX: "Discovery and exploration"
Evolution's discovery briefing reports new drilling at Cowal, Northparkes and Ernest Henry and restates FY27 exploration guidance of A$130-160M. Cowal's four holes include 2.2m (1.76m estimated true width) at 16.17g/t gold, a...
Score
Evolution project briefing: no new drilling or resources; project timelines and growth targets
ASX: "Current projects and future growth opportunities"
Evolution's 15 September 2026 investor briefing updates project status and timing at Cowal, Northparkes and Ernest Henry. It reports no new drill results and no new resource or reserve estimate; the resource and reserve tables...
Evolution investor briefing restates FY27 guidance and reserves; one Ernest Henry copper interval cited
ASX: "2026 Investor Briefing Presentations"
Evolution's 15 September 2026 investor briefing mostly restates known material: FY27 guidance of 660-730koz gold and 63-70kt copper, and resources and reserves at 31 December 2025. The only new drilling item is a headline Ernest...
Score
Evolution FY26 profit A$1,475m, cash flow A$1,389m, 21.0c final dividend; FY27 AISC guided higher
ASX: "FY26 Full Year Financial results and Final Dividend"
Evolution reported FY26 statutory profit of A$1,475m and Group cash flow of A$1,389m, ending the year with A$1,347m cash against A$1,329m debt. The final dividend is 21.0 cents fully franked, taking the full year to 41.0 cents...
Evolution FY26: record A$1,475m profit, A$1,347m cash and a 21.0c final dividend
ASX: "Appendix 4E and FY26 Financial Report"
Evolution Mining reported record FY26 statutory profit of A$1,475.1m (up 59%) and underlying profit of A$1,562.9m, with operating mine cash flow of A$3,394.3m. Gold output fell 5% to 714,728 oz at a higher AISC of A$1,717/oz, and...
Earlier
- News
- News
Drilling
EVN's best drill intercepts
Ranked by metal-metres, so a long modest hit and a short rich one can be compared fairly.
| # | Company | Intercept | Metal-metres | Rating | Top share | Released |
|---|---|---|---|---|---|---|
| 1 | EVN Evolution Mining | 61.3m @ 0.770g/t Au from 2,121m EH1554A | Modest | - | ||
| 2 | EVN Evolution Mining | 3m @ 11.4g/t Au from 553m RDU0298 | Modest | - | ||
| 3 | EVN Evolution Mining | 15.2m @ 2.05g/t Au from 685m E41D2969 | Modest | - | ||
| 4 | EVN Evolution Mining | 20m @ 1.55g/t Au from 456m E41D2969 | Modest | - | ||
| 5 | EVN Evolution Mining | 21m @ 1.19g/t Au from 515m E41D2969 | Modest | - | ||
| 6 | EVN Evolution Mining | 10m @ 2.11g/t Au from 205m E41D2248 | Modest | - | ||
| 7 | EVN Evolution Mining | 17.1m @ 1.19g/t Au from 729m E41D2969 | Modest | - | ||
| 8 | EVN Evolution Mining | 14m @ 1.17g/t Au from 547m E41D2969 | Modest | - | ||
| 9 | EVN Evolution Mining | 3m @ 5.37g/t Au from 960m E41D2969 | Modest | - | ||
| 10 | EVN Evolution Mining | 6m @ 2.38g/t Au from 415m E41D2969 | Modest | - | ||
| 11 | EVN Evolution Mining | 146m @ 1.02% Cu from 36m E51D020 | Excellent | 91% | ||
| 12 | EVN Evolution Mining | 214m @ 0.340% Cu from 10m E26D731 | Excellent | 43% | ||
| 13 | EVN Evolution Mining | 200m @ 0.360% Cu from 6m E26D727 | Excellent | 9% | ||
| 14 | EVN Evolution Mining | 166m @ 0.370% Cu from 90m E26D729 | Excellent | 12% | ||
| 15 | EVN Evolution Mining | 138m @ 0.340% Cu from 182m E26D728 | Really good | 15% | ||
| 16 | EVN Evolution Mining | 142m @ 0.330% Cu from 282m E26D729 | Really good | - | ||
| 17 | EVN Evolution Mining | 136m @ 0.340% Cu from 42m MJD025 | Really good | 16% | ||
| 18 | EVN Evolution Mining | 61.3m @ 0.770g/t Au | Modest | - | ||
| 19 | EVN Evolution Mining | 61.3m @ 1.26% Cu | Excellent | - |
Money
Cash, burn and dilution
Price reactions
How EVN moved after its news
Day-1 move after each decoded announcement, from the last close before the market could trade on it.
Average day-1 move by type
Historical pattern
What happened after news like EVN's latest
Based on Evolution September quarter: 154koz gold, A$1,653/oz AISC, A$1,470M cash; FY27 guidance... (14 Oct 2026): what share prices did after past results like it, from DrillScore's own records. It describes the past: it isn't a forecast for EVN and it isn't advice.
After 39 other announcements read as 'mixed', stocks moved +0.6% by day 1, +0.9% by day 5 and +0.7% by day 20 against the XGD on average.
- Day 1
- +0.6%
- Day 5
- +0.9%
- Day 20
- +0.7%
After its earlier announcements, EVN moved -0.3% by day 1, +1.0% by day 5 and -1.3% by day 20 against the XGD on average.
- Day 1
- -0.3%
- Day 5
- +1.0%
- Day 20
- -1.3%
Over the last 20 trading days the XGD gold index moved +0.1% (steady). After 13 past gold announcements released into a steady gold index, stocks moved +1.3% by day 1, -0.9% by day 5 and +14.4% by day 20 on average - before taking the market's own move out.
- Day 1
- +1.3%
- Day 5
- -0.9%
- Day 20
- +14.4%
A strand leans up or down when its day-5 average is 1% or more either way. Each is shown on its own and never added up into a prediction: small samples swing, and every result is different. The full backtest - how it's worked out
Disclosure
Red flags and notes
Northparkes tables list nil holes for E26, E51 and Major Tom, but the 31 Monzonite Stock Contact holes without significant assays are not listed; the company says this is in line with the broad nature of discovery drilling. Northparkes primary intervals use a 0.3% Cu cut-off with bulking of up to 20m, and the minimum intercept length was cut from 20m in earlier releases to 10m, which allows longer and more numerous intervals. Cowal gives four holes with no nil results and no total hole count, while saying all available discovery results are reported. Ernest Henry is a single hole. This list is capped at 60 rows, so 11 short Northparkes intervals of 10-16m at about 0.3% Cu are not listed.
EVN: Discovery and exploration - 15 Sep 202616m @ 0.65% Cu from 44m contributes 93% of the %-metres of 18m @ 0.62% Cu from 42m in E51D022; the rest of the interval is much lower grade. 3 other intervals are carried the same way.
EVN: Discovery and exploration - 15 Sep 2026Some holes, collar details or nil results are missing from the drill-hole table.
EVN: Discovery and exploration - 15 Sep 2026Earlier Major Tom and E51 results used a 20m minimum intercept length; this release uses 10m with up to 20m of bulked dilution. The change is explained, but old and new intervals are not directly comparable and no like-for-like restatement is given.
EVN: Discovery and exploration - 15 Sep 2026Primary intervals are bulked to 200m (E26D727), 214m (E26D731), 166m (E26D729) and 138m (E26D728) at a 0.3% Cu cut-off with up to 20m of internal dilution. Higher-grade sub-intervals are shown separately, but bulk grades sit close to the cut-off.
EVN: Discovery and exploration - 15 Sep 202631 Monzonite Stock Contact holes with no significant assays are not listed, so the table cannot be checked against the full drilling programme.
EVN: Discovery and exploration - 15 Sep 2026In the Cowal table the Northing and Easting labels appear swapped, and dip, azimuth and hole length values sit under the wrong headings. RDU0298 shows an elevation of -197.768. Interval and grade data agree with the slide text, but the collar data should be re-checked.
EVN: Discovery and exploration - 15 Sep 2026The announcement does not give every hole's collar position, dip, azimuth, depth and result (including nil results), which the ASX expects for material exploration results.
EVN: 2026 Investor Briefing Presentations - 15 Sep 2026JORC Table 1 sections 1 and 2 are missing - the ASX requires both with material exploration results.
EVN: 2026 Investor Briefing Presentations - 15 Sep 2026The JORC Code requires a Competent Person to take responsibility for exploration results, resources and reserves.
EVN: 2026 Investor Briefing Presentations - 15 Sep 2026The 61.3m at 1.26% Cu and 0.77g/t Au interval appears only as a slide headline with a reference to a separate 15 September 2026 announcement. This document gives no hole ID, depth, cut-off, dilution or JORC Table 1, so the detail the ASX requires cannot be checked from it.
EVN: 2026 Investor Briefing Presentations - 15 Sep 2026Ernest Henry capacity steps (Bert ~6ktpa Cu and ~12koz Au; Greater Duchess ~10ktpa Cu and ~5koz Au from ~FY30) are stated as volumes. Greater Duchess is shown at exploration stage and is not yet owned, and no resource, reserve or study is cited for these rates. The indicative-only caveat is given, but the basis is not.
EVN: 2026 Investor Briefing Presentations - 15 Sep 2026Investors
Experiences with EVN
Questions
EVN in brief
What does Evolution Mining mine?
A major gold producer with meaningful copper by-product, owning a stake in the giant Cadia gold-copper operation in NSW, Cowal, Ernest Henry in Queensland, Mungari in WA and Red Lake in Canada.
What was EVN's latest price-sensitive announcement?
On 14 Oct 2026 EVN released "September 2026 Quarterly Report". In plain English: Evolution September quarter: 154koz gold, A$1,653/oz AISC, A$1,470M cash; FY27 guidance held. It had no new drill results, so no DrillScore; DrillScore read its signal as mixed. Read the full analysis.
What is EVN's best drill result?
The best intercept DrillScore has decoded is 146m @ 1.02% Cu from 36m in hole E51D020 - 148.9 %-m, rated excellent, reported 15 Sep 2026.
How much cash does EVN have?
EVN reported $1.5bn in cash at 30 September 2026.
How does EVN's share price react to announcements?
Across 10 decoded price-sensitive announcements, EVN's average day-1 move was -1.0%, rising 5 times and falling 5 times. Past reactions don't predict future ones.
Is EVN a gold or a copper stock?
Evolution Mining is a gold & copper producer with operations in NSW, QLD, WA, Ontario. See all ASX gold stocks.
Where can I read EVN's announcements?
Every price-sensitive EVN announcement is decoded on this page within minutes of release, with a link to the original document. DrillScore's analysis is general information, not advice.
General information only - not financial advice. DrillScore's analyses are produced automatically by an AI model (Claude, by Anthropic) from the company's own ASX announcement and public market data, and scored by a fixed formula (how it works). They can be wrong or incomplete, don't consider your objectives or circumstances, and are not a recommendation to buy, sell or hold anything. Always read the original announcement and consider advice from a licensed adviser.
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