Operator
Thank you for standing by, and welcome to the Evolution Mining Limited March 2026 quarter results. [Operator Instructions]
I would now like to hand the conference over to Mr. Lawrie Conway, Managing Director and Chief Executive Officer. Please go ahead.
Lawrie Conway
CEO, MD & Director
Thank you, Ashley, and good morning, everyone. I’m joined on the call today by Matt O’Neill, our Chief Operating Officer; Glenton Masterman, LVP Discovery; Fran Summerhayes, our CFO; and Peter Rocky O’Connor, our GM Investor.
Today, we released our March Quarterly Report and an Exploration Update which will be the reference points for the call. A key milestone and highlight for the quarter was the transition to a net cash position on the back of another very good quarter. After generating $406 million in group cash flow at just under $2,500 per ounce, we are now in a net cash position of over $40 million. Our cash balance at the end of the quarter was $1.37 billion, and we have no debt repayments until FY ’29.
The rapid de-leveraging, where we have moved from over 30% gearing to net cash in just over two years, is a reflection of Evolution’s high-margin portfolio consistently delivering to ensure the benefits of the high metal price
