Evolution Mining shares dropped 5% yesterday after announcing gold production in the December quarter fell from 186k to 181k ounces.
Both Northstar and Evolution revealed higher production costs over the quarter.
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EVN & NST remain in our ASX top 100 model portfolio whereas, NCM was removed. Looking forward, it is reasonable to expect NCM to be added, but at lower prices to where it trades today.
OZL is under Algo Engine sell conditions – OZL’s 4QCY18 production result was solid and the company has upgraded gold production for Prominent Hill.
We see a buy side opportunity approaching with NCM and we’ll update you on the next Algo Buy signal.
