Robex Resources Inc. is releasing their financial results for the third quarter of 2017 and announces that their liabilities have decreased by $5.4 mi

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Algemeen advies 22/11/2017 19:31
Quebec City, Quebec, November 22, 2017 – Robex Resources Inc. ("Robex" and / or "the Company") (TSXV: RBX / FWB: RB4) is pleased to publish their financial and operating results for the quarter that ended September 30, 2017.

These results are very encouraging as the company's liabilities have declined significantly over the last three months and after only nine months of commercial production; the mine has become a very low-costing gold producer.

Unless otherwise indicated, all amounts are in Canadian dollars.

Highlights for the third quarter of 2017
• Net cash flow related to operating activities(1) of $ 5.7 million corresponding to $ 0.010 per share(2)
• Decrease in the Company's liabilities of $ 5.4 million during the third quarter of 2017
• 9,197 ounces of gold sold, for $ 14.8 million
• The total cash cost(2) is of $ 585 per ounce sold and the all-in sustaining cost(2) is of $ 784 per ounce sold, steadily decreasing
• Adjusted net income attributable to shareholders(2) is $ 2.8 million corresponding to $ 0.005 per share

Mining operation: Nampala, Mali
Third quarters ended September 30, Nine-month periods ended September 30,
2017 2016 2017 2016
Operating Data
Ore mined (tonnes) 325,524 172,690 972,299 440,958
Ore processed (tonnes) 404,038 181,834 1,145,956 422,252
Waste mined (tonnes) 307,107 432,189 1,531,361 1,054,377
Operational stripping ratio 0.9 2.5 1.6 2.4
Head grade (g/t) 0.80 0.78 0.84 0.82
Recovery (%) 83.5% 83.0% 84.5% 83.1%
Gold ounces produced 9,163 3,638 25,898 7,081
Gold ounces sold 9,197 3,755 25,732 7,081

Financial Data
(all amounts below were rounded to the nearest thousand dollars)
Revenues – Gold sales 14,786,000 — 42,399,000 —
Mining operation expenses 4,899,000 — 14,558,000 —
Change in environmental liabilities 6,000 9,000 17,000 (9,000)
Mining royalties 479,000 37,000 1,137,000 70,000
Administrative expenses 1,195,000 190 000 3,484,000 528 000
Depreciation of property, plant and equipment 1,999,000 172,000 5,536,000 363,000
Segment operating income 6,208,000 (408,000) 17,667,000 (952,000)

(all amounts below are expressed in Canadian dollars)

Average value (per ounce) 1,608 — 1,648 —
Cash operating cost (per tonne processed)(4) 13 — 13 —
Total cash cost (per ounce sold)(4) 585 — 611 —
All-in sustaining cost (per ounce sold)(4) 784 — 846 —
Administrative expenses (per ounce sold) 130 — 135 —
Depreciation of property, plant and equipment (per ounce sold) 217 — 215 —

Robex continues to reduce cash costs and maintenance costs at the Nampala mine in Mali. After nine months of commercial production, the mine is already among the best in terms of low-cost gold production. Highly qualified employees, well-established management procedures and indicators, and exemplary rigorous work enable the company to improve the profitability of the Nampala mine day after day.

This makes it possible to present a significantly reduced liability as at September 30, 2017 compared to June 30 (decrease of more than $ 5 million). Robex is proud of their progress and intends to continue on this path.

The quantity of ore processed daily during October and November 2017 is constantly increasing

The Nampala mine processed 159,000 tonnes of ore during the month of October for an average of 5,130 tonnes per day. In November, some daily productions peaked at nearly 7,000 tonnes per day. These results are extremely promising and suggest that the last quarter of 2017 may be even more promising.

ROBEX’S MD & A and the consolidated financial statements are available on the Company's website in the Investors section at: These reports and other documents produced by the Company are also available at

The technical information presented in this press release has been validated by Mr. Antoine Berton, P.Eng., Ph.D., metallurgist from Soutex, a consulting firm in metallurgy and ore processing permanently present at the Nampala site.

(1) Cash flow from operating activities excludes changes in non-cash working capital items.
(2) Cash flow from operating activities per share, total cash cost, all-in sustaining cost and adjusted net income attributable to shareholders are non-IFRS financial measures for which there is no standard definition under IFRS. IFRS. Refer to the "Non-IFRS Measures" section of the MD & A on page 32.
(3) The statistics relate entirely to the mining operations of the Nampala mine. As the mine was not in commercial operation in 2016, the comparative does not apply for this period.
(4) Cash operating cost, total cash cost and all-in sustaining costs are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS financial measures" section of MD&A, on page 32.

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