Uncategorized
Robex Resources Inc. Generates Cash Flows From Operating Activities of $7.7 Million for Revenue of $18.9 Million for the First Quarter of 2019
Robex Resources Inc. (TSXV: RBX / FWB: RB4) is pleased to publish their financial results for the quarter ended March 31, 2019.
All amounts are in Canadian dollars.
Highlights for the first quarter of 2019
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Gold production of 11,291 ounces (351 kg) compared to 9,793 ounces (305 kg) for the same period in 2018
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Increased the plant’s accessibility, namely an average of 91.6% for the first quarter of 2019 compared to 88.4% for 2018
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$18.9 million of gold sold compared to $20.6 million for the same period in 2018 (difference in gold sales from production can be attributed to each of the periods presented)
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Cash flows from operating activities1 of $7.7 million or $0.013 per share2 compared to $9.6 million or $0.017 per share2 for the same period in 2018
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Decrease in the Company’s liability in the amount of $4 million compared to December 31, 2018
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Exploration investments using the Nampala operating permit amounting to $0.9 million and $1.6 million in research and exploration using the Mininko and Kamasso permits.
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Activities initiated at the Nampala mine literacy centre, which will provide more than 65,000 hours of training to employees and neighbouring communities in 2019
Mining operation: Nampala, Mali
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Quarters ended March 31, |
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2019 |
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2018 |
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Operating Data |
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Ore mined (tonnes) |
498,433 |
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491,342 |
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Ore processed (tonnes) |
424,561 |
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445,226 |
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Waste mined (tonnes) |
817,729 |
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1,047,870 |
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Operational stripping ratio |
1.6 |
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2.1 |
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Head grade (g/t) |
0.95 |
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0.93 |
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Recovery (%) |
85.0 % |
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83.9 % |
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Gold ounces produced |
11,291 |
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9,793 |
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Gold ounces sold |
10,935 |
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11,989 |
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Financial Data |
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(rounded to the nearest thousand dollars) |
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Revenues – Gold sales |
18,870,000 |
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20,573,000 |
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Mining operation expenses |
7,131,000 |
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7,184,000 |
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Mining royalties |
588,000 |
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672,000 |
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Administrative expenses |
1,774,000 |
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1,338,000 |
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Depreciation of property, plant and equipment and amortization of intangible assets |
8,363,000 |
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2,906,000 |
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Segment operating income |
1,014,000 |
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8,473,000 |
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Statistics |
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(in dollars) |
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Average realized selling price per ounce |
1,726 |
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1,716 |
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Cash operating cost per tonne processed3 |
18 |
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15 |
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Total cash cost per ounce sold3 |
706 |
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655 |
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All-in sustaining cost per ounce sold3 |
1,053 |
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1,036 |
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Administrative expenses per ounce sold |
162 |
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112 |
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Depreciation of property, plant and equipment per ounce sold |
765 |
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242 |
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Posted May 31, 2019
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