There is a show on Foxtel called Aussie Gold hunters. The teams go out to the middle of nowhere hoping to strike it rich finding the yellow stuff. The operations range from a couple with pans in a creek to others with huge investments in leases and equipment. Point is, there is demand for this stuff.

Evolution also looks for the stuff. In FY21 they produced 680,788 ounces which was a fall of nearly 10% compared the previous year. They are an efficient operator, with an all in sustaining cost of around $1200 an ounce putting them into the range of some of the best in the industry.

Statutory profit was up 14% to $345M despite the production decline.

After a year of acquisition in Canada (C$343M) and Cowal Underground development investment of $380M the company has north of $450M debt.

The dividend was cut by 25% compared to the previous year but this cannot be the only contribution to the fall in the share price which is off around 40%. Spot price has fallen in a similar period, however this fall has been minor in comparison.

Other gold miners such as St Barbara (SMB) and Northern Star (NST) have also seen falls. Assuming these are industry sentiment falls.

Maybe it would be better for me to look at the Minelab website and go prospecting.