Caldas Gold Corp. (TSX-V: CGC) announced the release of its unaudited interim condensed consolidated financial statements and accompanying management’s discussion and analysis for the three months ended March 31, 2020. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
Serafino Iacono, Chairman and Interim CEO of Caldas Gold, commenting on the Company’s latest results, said, “We are very pleased that Caldas Gold is up and running now. Drilling results from the Deep Zone at Marmato continue to be impressive, setting us up to have a meaningful reserve to build our prefeasibility study for the expansion of the mining operations into the Deep Zone. Drilling has also discovered a new zone which opens up the possibility for further mineral resource expansion. The PFS remains on track to be finalized mid-year. I am also very proud of what our Company has been able to do during COVID-19 to help out the communities in which we live and work. These are definitely unprecedented times and our people have done a tremendous job keeping our operations going while ensuring we all do the right thing to keep our workers safe.”
First Quarter 2020 Highlights
Selected Financial Information
|Gold produced (ounces)||5,901||6,215|
|Gold sold (ounces)||6,541||5,395|
|Average realized gold price ($/oz sold)||$||1,587||$||1,296|
|Total cash costs ($/oz sold) (1)||1,219||1,133|
|AISC ($/oz sold) (1)||1,371||1,189|
|Adjusted EBITDA (1)||2,061||878|
|Net (loss) income||(17,562||)||340|
|Per share – basic and diluted||(0.47||)||0.01|
|Adjusted net (loss) income (1)||(1,286||)||390|
|Per share – basic and diluted||(0.03||)||0.01|
|Net cash provided by operating activities||(832||)||(117||)|
|Additions to mining interest, plant and equipment||3,259||922|
(1) Refer to “Non-IFRS Measures” in the Company’s MD&A.
|March 31,||December 31,|
|Balance sheet ($000’s):|
|Cash and cash equivalents||$||14,098||$||2,672|
First Quarter 2020 Results Webcast
As a reminder, Gran Colombia will host a conference call and webcast, together with Gran Colombia Gold Corp., on Tuesday, May 19, 2020 at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows:
|Live Event link:||https://edge.media-server.com/mmc/p/oduhd4fp|
|International:||1 (514) 841-2157|
|North America Toll Free:||1 (866) 215-5508|
|Colombia Toll Free:||01 800 9 156 924|
A replay of the webcast will be available at www.caldasgold.ca from Tuesday, May 19, 2020 until Friday, June 19, 2020.
About Caldas Gold Corp.
Caldas Gold is a Canadian junior mining company currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia with mineral resources of 2.0 million ounces of gold in the Measured and Indicated categories and 3.3 million ounces in the Inferred category. A Preliminary Economic Assessment study (Preliminary Economic Assessment Report, Marmato Project, Colombia, dated February 6, 2020 completed by SRK Consulting (U.S.), Inc.) is available on the Company’s SEDAR profile at www.sedar.com.
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We acknowledge the [financial] support of the Government of Canada.