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The Red Lake mine was one of the largest gold mines in Canada and in the world.. Newmont Goldcorp announced an agreement to sell the Red Lake complex to Evolution Mining. As of early 2021, Evolution has announced resources of 2.9 Million oz Au at 6.9 gms Au/tonne, with a further 5.7 Million oz at 7.7 g/t indicated and 5.3 Million oz at 6.49.
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The Red Lake operation is an underground gold mine in north-western Ontario and is situated in one of the highest-grade Archean gold camps in Canada, on the traditional lands of the Wabauskang and Lac Seul First Nation. Acquired in April 2020, an operational transformation plan is underway to restore Red Lake to a premier Canadian gold mine.
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Evolution Mining, a leading Australian gold producer, is making a big-splash entry into Canada by acquiring the Red Lake Gold Complex from Newmont Goldcorp in a cash deal worth US$475 million.. The Sydney and Perth-headquartered gold miner made the announcement on Nov. 26, Australian time. The news release included details of a three-year "turnaround" plan to "reinvigorate" the northwestern.
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Red Lake operation Restoring Red Lake to a premier Canadian gold mine - a cornerstone asset for Evolution FACT SHEET Location: Ontario, Canada, approximately 535km north-west of Thunder Bay Producing: Gold Management: Owner operator Site Management: Kirsty Liddicoat - General Manager Mine Site contact number: +1 807 735 2077 Acquisition: Goldcorp assets 31 March 2020, Battle North Gold
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T he two companies' announcements couldn't have been more upbeat. "Evolution is excited to be adding Red Lake to its portfolio," enthused Evolution Mining's executive chairman, Jake Klein. "Red Lake is an under-capitalized asset which, through a committed investment in development and exploration, is intended to become a cornerstone asset in the Evolution portfolio."
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The largest player in the Red Lake, Ont., mining camp is about to have an even bigger piece of the golden pie. Evolution Mining proposed to buy out Battle North Gold in a cash transaction worth.
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Evolution Mining is a leading, globally relevant gold miner. Evolution operates five wholly-owned mines - Cowal in New South Wales, Mungari in Western Australia, Mt Rawdon and Ernest Henry in Queensland, and Red Lake in Ontario, Canada.. Red Lake Social Committee is the operation's onsite social club which is coordinated by employee.
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An Australian company has announced it intends to purchase Newmont Goldcorp's gold mining complex in Red Lake, Ont. In a media release issued Tuesday, Evolution Mining Limited said the deal.
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RLGM was created on May 12, 2006, when Dickenson and Campbell Mines merged into a single mining operation. Production, reserves and exploration projects were combined, making it the largest mine in Red Lake's history. Exploration continued, and RLGM completed 554,427.8 metres (1,818,989 feet) of definition, delineation and exploration diamond.
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Located in western Ontario, Red Lake is an underground gold mining complex comprising the Red Lake and Campbell complexes. Evolution has committed to investing $100m on existing operations and a further $50m in exploration at Red Lake over the first three-year period after the deal is completed.
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Evolution has previously vowed to produce 200,000 ounces per year at Red Lake by 2023 and has indicated long term ambitions to produce up to 500,000 ounces per year at the mine.
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At Evolution's Canadian operations - Red Lake in Ontario - which it acquired from Newmont in early 2020, Evolution has made progress on its plans to transform the asset to a producer of more than 200,000 oz. of gold per year at AISCs of less than US$1,000 per oz. The Sydney, Australia-based company established an initial JORC-compliant.
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When Australia's Evolution Mining Ltd. took over the Red Lake gold mine in Northwestern Ontario in early 2020, it found busted equipment, manually operated mine shafts and demoralized employees.
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Changes are coming at the Red Lake Mine Complex with a new boss in charge. Australia's Evolution Mining calls the northwestern Ontario operation an "undercapitalized asset" and intends to spend a significant amount of money on exploration to find more high-grade gold.. The Sydney-based gold miner finalized its acquisition of the complex with Newmont on March 31.
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Evolution Mining's transformation plans at the Red Lake gold mine in Ontario, Canada, are tracking ahead of schedule with the Australia-based company's board signing off the development of a surface decline at the operation. The company acquired the Red Lake Complex from Newmont in November 2019 in a deal that could eventually rise to $475.
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Red Lake complex 2012 Cochenour haulage drift completed, now connected to Campbell shaft to move ore 2020 Evolution Mining acquires the Red Lake complex from Newmont Goldcorp Evolution first Mineral Resource estimate of 11.0Moz 2021 Evolution first Ore Reserve 2.9Moz Acquisition of the Battle North Gold company to extend mine life through.