The 257th Sydney Mining Club – Lunch
at 12:30 pm on 1 April 2021 at the Ivy Ballroom
Evolution Mining MD brings us the 2021 story of the Australian and now Canadian gold superstar.
Evolution Mining – Buying up, divesting down, drilling, mining and growing. Executive Chairman Jake Klein’s gold company just keeps on giving
Executive Chairman of Evolution Mining Jake Klein is moving mining mountains. In March 2018, this Australian gold producer had a market cap of around $5Bn. Today it is over 10 times that, even after a recent retreat by the gold bulls. When Jake last presented the Lake Cowal gold mine acquisition in NSW, it was with 3.4Moz in Resources. Today, its expanded mill has the safety of 9.0Moz on its runway letting it happily sail as Evolution’s Flagship.
The Edna May and Cracow mines were divested from its Australian portfolio and in a huge step offshore, last year Evolution acquired Canada’s iconic Red Lake gold mine. Company guidance indicates an initial 125,000 oz in FY21 expanding to 300,000 to 500,000 ounces in the years ahead – from a juicy headgrade of 6.5g/t. In news to hand as we write Evolution will now also acquire Battle North Gold Corporation TSX:BNAU with expansive holdings adjacent to the Red Lake operations for C$343m.
Beneath his signature unassuming style and cautious demeanour, Jake Klein continues to hard drive gold production. In a China of long ago, as president of Sino Gold Mining Ltd, he led them into becoming one of the largest foreign companies in the Chinese gold industry, building the company from a market capitalisation of $100M to a sell price of over $2Bn in just seven years. What’s next? Come hear an update of this cracker Australian gold growth story as told by one of the most investable leaders in the sector.