The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.14% on Monday.
Australian Dollar ($A) (AUDUSD): 67.76US cents
Dow Jones (DJI): down 0.11%
Oil (WTI): $US53.59 per barrel
Gold: $US1,493 per ounce
ASX Sharemarket News
In ASX sharemarket news, gold miner Newcrest Mining Limited (ASX: NCM) announced that its Board has approved the execution of the first of two stages in the Cadia Expansion Project.
The two stages will cost around $865 million. The first stage will comprise PC2-3 mine development, materials handling system upgrades, associated infrastructure and the initial works to increase plant capacity to 33mt per year.
The second stage, which is still in the feasibility study stage, comprises further plant expansion to 35mt per year and recovery improvements targeting completion in late FY22, which is before the completion of PC2-3 mine development.
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Gold miner Evolution Mining Ltd (ASX: EVN) has announced its quarterly production report.
It generated record net mine cash flow of $207.4 million, an increase of 36% on the prior quarter and record free cash flow of $158.6 million, an increase of 45% on the prior quarter. The company ended with $91.7 million of cash.
It produced 191,967 ounces at an all-in sustaining cost (AISC) of $1,018 per ounce (US$698).
FY20 guidance is unchanged at 725,000 ounces to 775,000 ounces, but AISC guidance has increased by $50 per ounce to $940 per ounce to $990 per ounce because of royalties, by-product credits and stability issues on the Mt Rawdon pit west wall.
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At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.