QUEBEC CITY, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Robex Resources Inc. (“Robex” or the “Company”) (TSXV: RBX) today presents its operational and financial results for the second quarter ended June 30, 2023.

Aurélien Bonneviot, Chief Executive Officer of Robex, said, “In the first six-month period of 2023, development of the Kiniero project accelerated in preparation for the construction of the future mine in Guinea and the continued setting up of its financing. Production at the Nampala mine meets management’s expectations. The bridge loan set up with Taurus and the completed feasibility study reveal that progress has been made in the Kiniero project’s development. The Company continues to implement a sustainable and inclusive growth strategy that is supported by a prudent and balanced financial approach.”1

Unless indicated otherwise, all amounts and financial data in this press release are in Canadian dollars (CAD).

HIGHLIGHT SUMMARY FOR THE SECOND QUARTER OF FISCAL YEAR 2023 COMPARED TO THE SECOND QUARTER OF 2022

Nampala Mine Operations

Gold production reached 12,410 ounces in the second quarter of 2023, compared to 12,185 ounces for the same period in 2022, and this despite the lower grade of the ore processed at the Nampala plant. This slight 1.8% increase in gold production was achieved thanks to the 6.6% rise in tonnage processed and allowed the Company to increase the quantity of gold sold by 0.8%, or 11,069 ounces, compared to 10,981 ounces for the same period in 2022.
A total of 2,424,197 tons of material was mined from the pits, namely 1,652,116 tons of waste and 772,081 tons of ore, corresponding to an operational stripping ratio of 2.1. For the same period in 2022, 3,252,074 tons of material was mined, namely 2,608,623 tons of waste and 643,451 tons of ore, corresponding to an operational stripping ratio of 4.1. A 20.0% increase in the ore mined and a 36.7% drop in waste helped improve our stripping ratio.
The lower all-inclusive sustaining cost,2 which stood at $1,287 per ounce of gold sold in the second quarter of 2023 compared to $1,540 per ounce of gold sold for the same period in 2022, can be explained by the reduced quantities of waste mined and the resulting lower stripping costs of $2,118,749 included within the maintenance capital expenditures, which were partially offset by the $975,578 rise in mining operation expenses.

Financial
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