Evolution Mining Limited (ASX: EVN) has provided an update on its performance for Q1 2023 and FY23 guidance. The company revealed that gold production for Q1 was 163,910 ounces and copper production was 9,668 tonnes, with all-in-sustaining costs of AU$1,291 per ounce. The impact of weather event at Ernest Henry reduced gold and copper production in the quarter by approximately 6,400 ounces and 4,100 tonnes, respectively.
The company's guidance for FY23 has been updated to around 660,000 ounces of gold at an AISC of AU$1,390 per ounce and copper production of approximately 48,000 tonnes. The weather event at Ernest Henry will result in lower gold and copper production of approximately 17,000 ounces and 10,000 tonnes, respectively. The company expects sustaining capital to be at or below the lower end of guidance of AU$190 million to AU$240 million while major capital is expected to be at the bottom end of the guidance range of AU$530 million to AU$600 million.
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