MM thoughts on Evolution Mining (EVN) SPP

Hi Mic,

Evolution (EVN) announced their share purchase plan (SPP) in late July at $3.85, the same price paid by institutional or the volume-weighted average price of Evolution shares traded on the ASX during the five trading days up to, and including, the 20^th of this month, less a discount of 2.5% – whichever is lower. With the stock currently hovering around $3.95, around 40% below the high of 2020, the former feels the likely ultimate SPP price.

We like Gold at current levels and while we have a definite preference for Newcrest (NCM) at this juncture, for those with some patience the SPP for EVN makes some sense, although the discount now is a very slim one.

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Evolution Mining (EVN)

LAST UPDATED 13/08/2021 16:28

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Evolution Mining (EVN)

LAST UPDATED 13/08/2021 16:28