Northern Star deal propels Evolution toward a million ounces

Evolution Mining has turbo-charged the growth plan it announced last week by agreeing to pay $400 million for a collection of Northern Star’s mines on the western side of Kalgoorlie.

Evolution will fund the deal through a $400 million placement to institutional investors at a 5.4 per cent discount to Wednesday’s share price, and the company will offer a further $50 million of new shares to ordinary shareholders.