Aurélien Bonneviot, Chief Executive Officer: “Another strong set of operating results at Nampala, demonstrating the incredible dedication of the enlarged management team since the beginning of the year. Nampala’s operation performance continue to support the development of the group towards becoming a mid-tier gold producer in West Africa. We are on-track to deliver our 2023 guidance on production and costs[1]. We would like to thank all Robex employees for their hard work.”

Unless otherwise noted, all amounts and financials in this press release are presented in Canadian dollars (CAD).

SUMMARY OF HIGHLIGHTS FOR THE THIRD QUARTER OF 2023 COMPARED TO THE THIRD QUARTER OF 2022

Nampala Mine Operations

Production reached 13,375 ounces for the third quarter of 2023, compared to 11,124 ounces for the same period in 2022, despite a decrease in ore grade processed at the Nampala plant. This 20.2% increase in gold production was achieved thanks to a 25.5% increase in tonnage processed and allowed the Company to increase the quantity of gold sold by 446 ounces, or 14,090 ounces, compared to 13,644 ounces for the same period in 2022.
For the quarter ended September 30, 2023, despite the rainy season in Nampala, the total quantity of material extracted from the pits reached 1,321,387 tonnes, including 1,057,271 tonnes of waste rock and 264,116 tonnes of ore, corresponding to an operational stripping ratio of 4.0 which is stable compared to the same period in 2022. For the same period in 2022, 2,065,818 tonnes of material were extracted, including 1,667,252 tonnes of waste rock and 398,566 tonnes of ore, corresponding to a stripping ratio of 4.2.
The decrease in all-in sustaining cost[2] of $1,083 per ounce of gold sold in the third quarter of 2023 compared to $1,291 per ounce sold for the same period in 2022 is explained by this decrease in waste rock mined and the decrease in stripping costs of $1,857,631 included in sustaining capital expenditures, partially offset by higher mining operating expenses of $1,064,811.
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