ASX Round-Up: Evolution Mining and Aquarius Platinum Shine

- October 23rd, 2015

Evolution Mining owns and operates seven gold mines in Australia, while Aquarius Platinum is focused on its two platinum operations in South Africa and Zimbabwe.

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Evolution Mining (ASX:CAH) and Aquarius Platinum (ASX:AQP).


Evolution Mining is a gold company that owns and operates seven gold mines in Queensland, New South Wales and Western Australia. The company produced 437,570 gold equivalent ounces for the year ended June 30, prior to the acquisition of the Cowal and Mungari mines. Evolution Mining released its quarterly report on Friday, and it shows that quarterly cash flow from operations came to $105 million — that’s a new record and a 154-percent increase quarter-on-quarter.
Earlier in October, the company declared its takeover offer for Phoenix Gold (ASX:PXG) is unconditional and extended the offer period to November 26.

Is gold a good hedge investment in 2020?

 
Read our FREE 2020 outlook report on gold investing!
 

Aquarius is focused on its two platinum operations: Kroondal in South Africa and Mimosa in Zimbabwe. At the start of October, the company sold off its interest in the Everest mine to Northam Platinum (JSE:NHM). A few days later, Aquarius entered into an implementation agreement with Sibanye Gold (NYSE:SBGL); the plan is for Sibanye’s wholly owned subsidiary to acquire all shares of Aquarius for US$0.195 per share.
 
Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article. 
Related reading:
ASX Round-Up: A Look at CuDeco and Orocobre
ASX Round-Up: Wolf Minerals and Metals X in the Spotlight
ASX Round-Up: A Look at Endeavour Mining and Mount Gibson Iron
ASX Round-Up: Saracen and Atrum Coal at a Glance
ASX Round-Up: A Look at Beadell Resources and Teranga Gold

Get the latest Resource Investing stock information

Get the latest information about companies associated with Resource Investing Delivered directly to your inbox.

Resource Investing

Select None
Select All

Leave a Reply