ASX Announcement
19 March 2014ABN: 74 084 669 036
Registered Office
Level 28
175 Liverpool Street
Sydney NSW 2022
P +61 2 9696 2900
F +61 2 9696 2901 www.evolutionmining.com.au
DIVIDEND REINVESTMENT PLAN - PRICE AND PARTICIPATION RATE
Evolution Mining Limited (ASX: EVN) advises that the Dividend Reinvestment Plan ("DRP") price for the interim dividend in respect of the half year ended 31 December 2013 is A$0.9192 per share.
This price has been calculated by applying a 5.0% discount to the volume weighted average price of Evolution shares calculated from 12 March 2014 to 18 March 2014 (inclusive), being the five trading day period commencing on the first trading day after the Record Date, in accordance with the DRP Rules.
DRP shares are expected to be allocated to DRP participants, on 26 March 2014. Similarly, the interim dividend of 1 cent per share is payable on 26 March 2014 for those shareholders who did not elect to participate in the DRP.
The participation rate in the DRP for this interim dividend is 17.43% of the ordinary issued shares of
Evolution.
Commenting on the DRP participation, Evolution's Executive Chairman Jake Klein said:
"It is pleasing to see such strong participation by shareholders in the dividend reinvestment plan. It is indicative of the long-term support and commitment that many of our shareholders have shown to the Evolution business strategy."
The DRP Rules are available at: www.evolutionmining.com.au/investorsDividendInformation.html
For further information please contact:
Evan Elstein Bryan O'Hara
Company Secretary Investor Relations Manager Evolution Mining Limited Evolution Mining Limited Tel: +61 2 9696 2900 Tel: +61 2 9696 2900
Evolution Mining is a leading, growth-focused Australian gold miner. The Company operates five wholly-owned Australian mines - Cracow, Mt Carlton, Mt Rawdon and Pajingo in Queensland and Edna May in Western Australia.
Group production for FY13 totalled 392,886 ounces gold equivalent at an average cash cost of A$790/oz.
FY14 forecast production is 400,000 - 450,000 ounces gold equivalent with cash operating costs expected to be in the range of A$770 - A$820 per ounce. At an AUD:USD exchange rate of $0.9250 this equates to globally competitive cash costs of US$710/oz to US$760/oz. The additional costs of royalties, sustaining capital and corporate overheads add approximately A$310/oz providing for Group All-in Sustaining Costs of A$1,080/oz to A$1,130/oz (US$1,000/oz to US$1,045/oz).
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