The EVOLUTION FPO (ASX: EVN) share price jumped as much as 6.4% higher this morning following a bumper quarterly report, before settling to trade 3.7% in the green.

In an announcement to the ASX, the bustling mining firm announced gold production of 203,700 ounces and an all-in sustaining cost of $1,016 per ounce for the quarter ended 31 December 2015.

Strong quarterly production prompted the company to upgrade its 2016 full-year production guidance to between 770,000 and 820,000 ounces from between 730,000 and 810,00 ounces. Over the full-year, Evolution’s average C1 cash cost (think of this as the ‘costs incurred at the mine site’) is expected to come in between $700 and $740 per ounce, from previous guidance between $715 and $795 per ounce.

Source: Evolution Limited Quarterly Report, 27 January, 2015

Source: Evolution Limited Quarterly Report, 27 January 2016

The company’s all-in sustaining cost guidance also lowered to between $970 and $1,020 per ounce from $990 to $1,060 per ounce.

Further, EVOLUTION said its good quarterly performance enabled it to pay down $50 million of debt ahead of schedule during the quarter and an additional $25 million in January.

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Motley Fool writer/analyst Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.