Sydney, June 25, 2026, 05:08 (AEST)
- Evolution ended Wednesday at A$12.35, off 2.29%. Volume was 9.16 million shares.
- Gold slipped under US$4,000 an ounce, with the offshore drop steepening after Sydney hours.
- Evolution will post its June-quarter report July 15 and full-year results a bit later, on Aug. 19.
Evolution Mining Ltd faces Thursday’s ASX open after two losses in a row, wiping 4.7% off its price since Monday’s close. Shares remain 59.4% higher so far this financial year.
ASX will open for regular trading on June 25. The opening auction gets underway at 9:59 a.m. Sydney time, and continuous trading kicks in at about 10 a.m.
Evolution lagged Northern Star Resources, which eased 0.15% at A$20.59. Ramelius Resources fell 2.9% to A$3.01.
Gold extended losses after Sydney, with spot prices down 3.3% at US$3,973.79 an ounce by 1800 GMT, the weakest level since November 2025. Independent metals trader Tai Wong said “a collapse is unlikely” since central-bank buying hasn’t stopped, but he sees the market possibly consolidating for a long stretch. Reuters
Dollar climbs to 13-month peak on rate hike bets The U.S. dollar touched its highest level in 13 months as traders boosted wagers on another Fed increase. Markets priced in a 32% chance of a rate rise in July and 66% for September. Juan Perez, director of trading at Monex USA, said the Fed was looking at staying “very hawkish moving forward” while prices remain high. Reuters
More pressure is coming from fund flows. Gold-backed exchange-traded funds let go of 16 metric tons in May as investors pulled money. Outflows kept going through the first half of June. “Investor attention is most certainly elsewhere right now,” said Adrian Ash, research head at BullionVault. Reuters
Evolution finished March 31 with more cash than debt. The group posted A$406 million in cash flow for the quarter and ended with A$42 million net cash. It produced 170,000 ounces of gold and 11,000 tonnes of copper, with all-in sustaining costs at A$2,220 per ounce. CEO Lawrie Conway said, “There is further cash flow upside in the June quarter.”
A stretch under US$4,000 could hit margins. Evolution’s FY26 output target is 710,000-780,000 ounces gold and 70,000-80,000 tonnes copper. After weather issues at Ernest Henry, copper should come in near the low end. Cost guidance is A$1,640-A$1,760 an ounce.
Gold appeared at US$3,989 an ounce, or A$5,791, on Evolution’s delayed market feed early Thursday. Copper was marked at US$13,023 a tonne. May 1 was the most recent ASX update on the company’s site.
U.S. markets are watching the personal consumption expenditures price index, which tracks consumer prices. The Bureau of Economic Analysis will put out the May numbers at 8:30 a.m. EDT on Thursday.
