Forum Topics EVN EVN EVN valuation

Pinned valuation:

Valuation deleted

SudMav
Added 10 months ago

As always @Bear77 another great writeup and the prospects of Evolution looking pretty good going forwards

7

Bear77
Added 10 months ago

Thanks @SudMav - I forgot to mention that Jake Klein has decided to go out at the top, with EVN doing very well and their SP making a new ALL-TIME high today of $6.37 during the day and closing at their all-time high closing share price of $6.29.

717c5bcd6f3e711a01aeae943b149253f7c506.png

Jake has been the executive Chairman of Evolution and announced today that he is transitioning to a non-exec Chair role, on lower pay.

Evolution-Mining-Executive-Leadership-Update.PDF [Wednesday 12th Feb 2025]

Excerpt:

18cc0b93690f3939d6da92891cacaa94d15260.png

While Jake has declined to participate in their NED Equity Plan, he already holds 14,408,175 EVN shares worth $90.6 million @ today's closing share price, so he certainly does already tick that "skin in the game" box. He's been the driving force behind Evolution for almost 15 years, and he's certainly entitled to step back a bit seeing as EVN is in such good shape.

Jake recently said in a MoM interview (late last year - 24th October 2024) that now is not the time for EVN to be engaging in M&A at the top of the market, it's a time to make big profits (print cash) and take full advantage of the position they are in and the very high gold price.

Things have changed a bit in the last couple of years. Bill Beament left NST to head up DVP, Jake Klein is stepping into a non-executive role now at EVN, so that just leaves Raleigh Finlayson at Genesis (GMD) as the major Aussie gold sector deal maker (M&A master) - Have a look at how GMD are travelling:

878c685ac5d6032119b6f361e289f5a4393f4c.png

EVN's SP has more than doubled in the past year and has gone more than 3x in less than 3 years. GMD's SP has also more than doubled in the past 12 months and has more than tripled in under 2 years.

Disclosure: I hold EVN and GMD in my SMSF, and I also hold GMD in my larger real-money portfolio outside of my Super, and I also hold GMD here on SM.

9