Australian gold leader Evolution Mining has met its full-year production guidance, but reported higher than forecast costs. The company produced 753,001 ounces of gold in the 2019 financial year, which was about the midpoint of guidance of 720,000-770,000oz. All-in sustaining costs for the year were A$924 per ounce, higher than the $850-900/oz guided. Costs were impacted by lower grades at Mun-gari in Western Australia and Mt Rawdon in Queensland, higher royalties due to the higher gold price, lower by-product credits due to a weaker copper price, and higher non-cash share-based payments due to a higher percentage of performance rights expected to vest at the end of FY19. Those factors combined lifted full-year AISC by $70/oz.
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