The shares are trading in a 52-week range of $40.01 and $54.87.Įvolution is an Australian gold miner which operates five wholly-owned mines in Western Australia. On Tuesday, Newmont Goldcorp shares were unchanged at $50.27. It has been rumoured widely that the Red Lake operation was up for sale. This year, Red Lake is expected to produce 150,000 to 160,000 ounces of gold at an AISC of approximately US$1,600 an ounce. In 2018, Red Lake produced 276,000 ounces of gold at an all-in-sustaining cost (AISC) of US$988 per ounce. The combined company now ranks as the world’s largest gold producer. The complex was a key asset in the portfolio of Vancouver-based Goldcorp before the company was acquired by US giant Newmont Mining Corp. There are currently 1,180 employees and contractors on the payroll. It now consists of the Red Lake and Campbell complexes.Įach complex consists of an underground mine and associated processing facility as well as the nearby Cochenour mine. ![]() Red Lake is an underground gold mining complex, which has been in production since 1949, producing 25 million ounces of gold at an average grade of 20 g/t. The additional payments are tied to new resource discoveries. Under the deal, Newmont Goldcorp can also receive contingent payments of up to an additional $100 million. is moving to streamline its asset base by selling its Red Lake complex in northwestern Ontario to Evolution Mining Ltd.
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