Sydney, Feb 16, 2026, 17:39 AEDT — Market ended the day
- Evolution Mining (ASX:EVN) slipped 1.6% to close at A$15.19, pulling back from a session peak of A$16.02.
- Gold dropped over 1% in light trading, with both U.S. and China markets closed for holidays.
- Up next for EVN: ex-dividend comes up March 3, with the March-quarter update following on April 15.
Evolution Mining Limited dropped 1.6% to close at A$15.19 on Monday, finishing right at the session low. Shares touched A$16.02 earlier but remain close to the 52-week high of A$16.30. (Google)
It’s notable given how packed the EVN trade has gotten—investors have piled in, eyeing both surging bullion and that hefty interim dividend flagged just last week. A volatile session, then a close pinned to the lows: that’s the kind of action that tends to put folks on edge before the bell rings again.
Spot gold dropped 1.1%, landing near $4,986 an ounce as U.S. and Chinese markets remained closed for holidays. Some traders cashed in gains after Friday’s rally. “Gold has given back some of Friday’s post-CPI gains today due to thinner trading conditions and a lack of fresh upside catalysts,” said Tim Waterer, KCM chief analyst. Investors are betting the Federal Reserve will keep rates steady in March; typically, lower rates benefit gold, which doesn’t pay interest. (Reuters)
Australian shares managed a modest gain, yet sliding commodity prices continued to drag down major miners, according to the ABC. (ABC News)
Deal chatter lit up the sector, too. Genesis Minerals rolled out a A$639 million cash-and-scrip offer for Magnetic Resources. Aeris Resources, meanwhile, sealed a deal to acquire Peel Mining’s South Cobar copper project. (The Australian)
Evolution turned in a record statutory net profit of A$767 million for the half-year ended Dec. 31, and announced a record interim dividend of 20 Australian cents a share, fully franked. “Our half-year result reflects the strength of our operating discipline,” said CEO Lawrie Conway. The dividend trades ex on March 3 and is payable April 2. (ASX Announcements)
The Northparkes expansion, while driving the recent rally, doesn’t come free. Evolution’s revised metal stream agreement with Triple Flag sets out a A$120 million refundable deposit, payable by Dec. 15, 2026. It also pares back the E44 stream—only 25% of payable gold and 37.5% of payable silver now stay in play. If Evolution hasn’t given the green light on E44 by end-2029, it can pay back the deposit (plus compensation) and drop the minimum delivery terms. “We are pleased to provide additional development funding to Evolution,” Triple Flag CEO Sheldon Vanderkooy said. (Company Announcements)
Traders are eyeing gold to see if it holds its ground once global liquidity comes back post-holiday. Attention also turns to EVN, with some watching for buying ahead of the March 3 ex-dividend date. After that, the next big company event on the radar: Evolution’s March-quarter results, landing April 15. (Evolution Mining)
