Ann: March 2022 Quarterly Report, page-30

Seriously, "a pattern of weaker performance from Evolution for many quarters". Anyone that says that only saw the ounces in production and not the bottom line. When you say many I assume 2 quarters right? The ounces in production is lower in Dec and Mar quarters because EVN sold Mt Carlton to NML and Red Lake is still a work in progress.

But hey lets look at the bottom line maybe the "a pattern of weaker performance from Evolution for many quarters" shows up here instead. Hmmm EVN actually had better cash flow from the last 2 quarters although the ounces produced were lower...


Okay I'll give you 1 more benefit of the doubt maybe you mean "many quarters" like in previous years... lets see the other years maybe I can see the pattern that you speak of. Not that I can see...

If you are in need of a reason why EVN trades at a premium then I suggest you start with the pattern above. EVN had a FY Revenue of A$469m in 2012, last FY 2021 it had a revenue of A$1,864m in the midst of Covid and lower gold price. To put that into perspective... EVN have grown its revenue 297% in 9 years. On a per quarter basis that is 8.26% every quarter for the last 36 quarters up to the last full year.

You can make broad stroke statements but next time back it up with numbers.