Gold miners generally don’t meet our quality requirements at Montgomery. But there is one miner that has gone through a massive transformation over the past eighteen months – Evolution Mining (ASX: EVN). With a strong track record of profitable acquisitions, and a declining risk profile, we think it’s a business that’s worth a closer look. Last September, I wrote about the massive transformation of Evolution Mining, which is led by gold entrepreneur Jake Klein. Evolution has continued to transform, completing a number of significant acquisitions over the past 18 months. These acquisitions are the La Mancha Australian assets (known as Mungari) from the Egyptian-based Sawiris family for 31 per cent of the Company’s issued capital, worth around $300m at the time; the tidying up of the neighbouring Phoenix Gold for $56m; the Cowal gold mine from Barrick Mining for $750m; and the economic interest in the Ernest Henry copper gold operation from Glencore for $880m.