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.
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.
