A Golden EVolution

Evolution Mining (ASX:EVN) Presents its Operations and Move into Pumped Hydro

Executive Chair, Jake Klein and Laurie Conway, Managing Director of Evolution Mining will update Sydney Mining Club members on its continuing evolution.

In 2010, an opportunity was identified to fill a vacuum in the Australian gold mining sector by creating a new producer. The first asset was a resource in North Queensland that others believed was not feasible to develop. Executive Chair and founder, Jake Klein, and a small management team, pursued a series of bold and complex deals to form Evolution in November 2011 and successfully turned that initial resource at Mt Carlton into one of the world’s highest-grade open pit gold mines.

Today, Mt Carlton has left the fold as have other foundation assets like Pajingo, Cracow and Edna May. In their place, are Cowal, Mungari, Ernest Henry and in Canada, Red Lake – all with mine lives out to 2040. Laurie Conway will run us through the investment at all sites.

Only Mt Rawdon remains from the original company. Mining will cease this financial year. Like a chrysalis though, the end of life is actually the beginning. A pumped hydro scheme is proposed to provide energy storage for Queensland. Following on from the Kidston mine pumped hydro scheme, Evolution is going an order of magnitude bigger at 2000 MW. Jake Klein will talk us through this ambitious scheme to develop an 80 year operation.