Calgary, Alberta--(Newsfile Corp. - August 17, 2023) - Antioquia Gold Inc. (TSXV: AGD) (OTC Pink: AGDXF) ("Antioquia Gold" or the "Corporation") is pleased to announce a summary of its financial results for the second quarter ended June 30, 2023. All amounts are in Canadian dollars, unless otherwise indicated.

For the second quarter of 2023, the company has shown a decrease financial performance in comparison to the previous period for the three months ended June 30,2023. The Company has continued improvements in mine planning and mining operations, process plant optimization.

The main operational and financial results for the second quarter 2023 are as follows (1):

Gold production for the second quarter of 2023 was 8,926 ounces compared to 12,090 ounces for the second quarter of 2022 (a 26% decrease).
Total revenues for the second quarter of 2023 were $24.4M compared to $30.6M for the second quarter of 2022 (a 20% decrease).
Adjusted EBITDA (2) for the second quarter of 2023 was $0.4M compared to $7.3M for the second quarter of 2022 (a 94% decrease).
Net loss for the second quarter of 2023 was $5.8M compared to an income of $0.4M for the second quarter of 2022 (a 1,332% decrease).
The average realized gold price (2) for the second quarter of 2023 was US$1,838/ounce compared to US$1,734/ounce for the second quarter of 2022 (a 6% increase).
Cash cost per ounce sold (2) for the second quarter of 2023 was US$1,802 compared to $1,322 for the second quarter 2022 (a 36.3% increase).
AISC per ounce sold (2) for the second quarter of 2023 was US$2,502 compared to $1,393 for the second quarter of 2022 (a 79.6% increase).
Summary of main operating and financial results Q2 2023

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https://www.newsfilecorp.com/release/177602/Antioquia-Gold-Reports-Second-Quarter-2023-Financial-Results