Roxgold Reports Strong Cash Flow Generation in Third Quarter 2018

Alleen voor leden beschikbaar, wordt daarom gratis lid!

14/11/2018 08:24
TORONTO, Nov. 13, 2018 /CNW/ - Roxgold Inc. ("Roxgold" or the "Company") (TSX: ROXG) (OTC: ROGFF) today reported its third quarter financial results for the period ended September 30, 2018.

For complete details of the unaudited Condensed Interim Consolidated Financial Statements and associated Interim Management's Discussion and Analysis please refer to the Company's filings on SEDAR (www.sedar.com) or the Company's website (www.roxgold.com). All amounts are in U.S. dollars unless otherwise indicated.

1. HIGHLIGHTS

For the three and nine-month periods ended September 30, 2018, the Company:

Operations
•Achieved production of 30,532 ounces of gold in Q3 2018 (28,410 ounces in Q3 2017) and YTD 2018 production of 106,812 ounces (91,970 ounces in YTD 2017);
•Realized a record quarterly processing throughput of 78,357 tonnes - 15% above nameplate capacity;
•Reduced operating costs per tonne processed by 7% in Q3 2018 and a 6% reduction in operating cost1 per tonne processed for YTD 2018;
•Achieved a cash operating cost1 of $454 per ounce produced and all-in sustaining costs1 of $788 per ounce sold and $409 per ounce produced and $716 per ounce sold for the three and nine-month periods ended September 30, 2018, respectively;


Financial
•Higher EBITDA1 of $16.9 million in Q3 2018 ($14.3 million in Q3 2017) and $68.9 million for YTD 2018 ($44.6 million for 2017 YTD);
•Achieved strong EBITDA margin1 of 45% in Q3 2018 (40% in Q3 2017) and 50% for YTD 2018 (39% for 2017 YTD);
•Generated cash flow from mining operations1 totalling $18.6 million in Q3 2018 ($0.05 per share) and $75.1 million ($0.20 per share) for YTD 2018;
•Maintained a strong balance sheet with cash on hand of $71.2 million;
•Generated a strong return on equity1 of 22%;


Growth
•Delivered first development ore from Bagassi South in October 2018 on schedule;
•Received all permits and decrees required for Bagassi South mining and the process plant expansion;
•Operating seven drill rigs currently at Yaramoko targeting extensions to the 55 Zone and regional exploration targets – six from surface and one from underground.


"With the solid operating results achieved at Yaramoko this quarter, we are confident of achieving the upper-end of our 2018 full year guidance range and expect to be at the lower-end of our cost guidance. We generated strong cash flow this quarter and have maintained our robust cash balance while advancing our growth project," said John Dorward, President and Chief Executive Officer of Roxgold. "At Bagassi South, the project has been progressing well during the quarter and first development ore has been delivered to the ROM pad in late October on schedule. The process plant expansion, which will increase mill capacity nearly 50%, is also continuing to progress well. With all materials now on site, the expansion is on track to be completed by the end of the year."

2. 2018 PRODUCTION GUIDANCE AND COSTS

Based on the strong operational results to date, the Company is confident it will achieve at or above the upper end of its production guidance and expect to be at the lower end of its cost forecasts for the twelve-month period ending December 31, 2018. Updated guidance for 2018 include as follows:
•Gold production between 120,000 and 130,000 ounces;
•Cash operating cost1 between $450 and $475/ounce;
•All-in sustaining cost1 between $740 and $790/ounce;
•Underground capital expenditure between $22 million and $26 million;
•Bagassi South pre-production capital expenditure of $30 million and remains on schedule;
•Increase in exploration spend from $9 million to $12 million.


see & read more on
https://www.roxgold.com/news/news/press-release-details/2018/Roxgold-Reports-Strong-Cash-Flow-Generation-in-Third-Quarter-2018/default.aspx



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL