VICTORIA GOLD REPORTS 2022 SECOND QUARTER RESULTS

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Algemeen advies 12/08/2022 14:04
Toronto, ON / August 12, 2022 / Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce its second quarter 2022 summary financial and operating results.

The Company will host a conference call and webcast Monday August 15th at 8:00am PST (11:00am EST) to discuss the second quarter consolidated results (details are provided at the end of this news release).

The Company uses certain non-IFRS performance measures throughout this news release. Please refer to the “Non-IFRS Performance Measures” section of this new release for more information. All currency figures are in Canadian $ unless otherwise indicated.

This release should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2022 and 2021, available on the Company’s website or on SEDAR.

Second Quarter 2022 Highlights
Gold produced 32,055 oz
Average gold price realized US$ 1,901
Revenue US$ 54,353,838
Gross Profit US$ 17,913,052
Net Income US$ 13,415,271
Earnings (loss) per share – Basic US$ 0.21
EBITDA US$ 34,614,986
Mr. John McConnell, President and CEO commented, “Similar to 2021, daily gold production at the Eagle Mine has increased substantially over the 2022 spring season. This is expected to result in materially higher gold production and revenues during the third and fourth quarters of 2022.”

Operational Highlights – Second Quarter 2022

Mine production was 2.2 million tonnes of ore.
Ore stacked on the heap leach pad was 2.3 million tonnes at an average grade of 0.85 grams per tonne (g/t).
Gold production was 32,055 ounces.
Financial Highlights – Second Quarter 2022

Gold sold was 28,580 ounces, at an average realized price1 of $2,427 (US$1,901) per oz.
Recognized revenue was $69.4 million based on sales of 28,580 ounces of gold.
Operating earnings were $20.5 million.
Net income was $17.1 million, or $0.27 per share outstanding.
Cash costs1 were $1,057 (US$828) per oz and all-in sustaining costs (“AISC”)1 were $1,750 (US$1,371) per oz of gold sold.
EBITDA1 were $44.2 million.
Free cash flow1 deficiency was $1.2 million, or a deficiency of $0.02 per share.
Cash and cash equivalents were $29.1 million at June 30, 2022.
Second Quarter and First Half-Year 2022 Operating Results

Q2 2022 Q2 2021 H1 2022 H1 2021
see & read more on
https://vitgoldcorp.com/news/victoria-gold-reports-2022-second-quarter-results/




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