CRACOW GOLD MINE

Aeris Resources now owns Cracow Gold Mine

Kitco News Wednesday July 01, 2020 16:52

Kitco News

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Evolution Mining Limited (ASX:EVN) said today it completed the sale of its Cracow gold mine to Aeris Resources Limited (ASX:AIS).

Evolution received the A$60 million upfront cash payment from Aeris, as well as A$15 million cash payable on 30 June 2022 and up to A$50 million contingent consideration payable in the form of a 10% net value royalty.

Aeris said Cracow has been operating continuously since 2004, producing more than 1.4 million ounces over its life.

Production guidance for 20201 is set at 70,000 to 75,000 ounces at a cash cost of A$980 per ounce