Torex Gold meldet Ergebnisse für Q3/18
HIGHLIGHTS
- Record gold production in the quarter totalled 100,346 ounces in dore, and an additional 1,135 ounces in carbon fines. Gold produced for the nine months totalled 246,309 ounces in dore, and an additional 11,322 ounces in carbon fines.
- Record mine production in the quarter totalled 11,092 kt, averaged 120,561 tpd. For the nine months, mine production totalled 21,326 kt, averaged 82,658 tpd.
- Mine ore production in the quarter totalled 1,246 kt, averaged 13,539 tpd. For the nine months, mine ore production totalled 3,095 kt, averaging 11,995 tpd.
- Grade mined in the quarter averaged 2.60 gpt, and 2.66 gpt for the nine months.
- Plant throughput in the quarter of 1,170 kt, averaged 12,717 tpd. Plant throughput in the nine months of 2,955 kt, averaged 11,453 tpd.
- Grade processed in the quarter averaged 3.01 gpt and 2.99 gpt for the nine months.
- Gold recovery averaged 89% in the quarter and 88% in the nine months, higher than design expectations.
- SART plant construction is complete and has been turned over to the operating team to continue the ramp up to design capacity. In the quarter, cost savings from the SART plant, including by-product revenues, and recovery improvements were $48 per ounce.
- Principal repayments of $14.1 million in the quarter and $36.3 million in the nine months were made to reduce the Term Loan under the Debt Facility to $263.7 million.
Financial results
- Gold sold for the quarter totalled 102,919 ounces for total proceeds of $124.9 million at an average realized gold price3 of $1,214 per ounce. Gold sold for the nine months ended September 30, 2018 totalled 243,471 ounces for total proceeds of $309.7 million at an average realized gold price3 of $1,272 per ounce.
- Revenue totalled $126.4 million and cost of sales totalled $94.7 million, or $920 per ounce of gold sold for the quarter. Revenue totalled $312.2 million and cost of sales totalled $238.2 million, or $978 per ounce of gold sold for the nine months ended September 30, 2018.
- Earnings from mine operations totalled $31.7 million for the quarter, and $74.0 million for the nine months ended September 30, 2018.
- Income before income tax totalled $28.4 million for the quarter, and $40.0 million for the nine months ended September 30, 2018.
- Net income after current and deferred income tax expense totalled $23.9 million or $0.28 per share on a basic and diluted basis for the quarter, and $21.8 million, or $0.26 per share on a basic and diluted basis for the nine months ended September 30, 2018. The strengthening of the peso favourably impacted the deferred tax expense calculated for the period.
- Adjusted net earnings3, which excludes, amongst other items, unrealized derivative and foreign exchange gains and losses, totalled $7.3 million, or $0.09 per share on a basic and diluted basis for the quarter, and $5.8 million, or $0.07 per share on a basic and diluted basis for the nine months ended September 30, 2018.
- Cash flow from operations totalled $77.8 million for the quarter, and $167.5 million for the nine months ended September 30, 2018.
- Cash balances as at September 30, 2018 totalled $148.2 million (including restricted cash of $26.6 million).
- Total cash costs3 of $590 per ounce of gold sold for the quarter, and $655 per ounce of gold sold for the nine months ended September 30, 2018.
- All-in sustaining costs3 of $967 per ounce of gold sold for the quarter, and $980 per ounce of gold sold for the nine months ended September 30, 2018.
- Ore in stockpile as at September 30, 2018 was 0.9 million tonnes at an average estimated grade of 1.43 gpt.
- Full year guidance is unchanged from initial release.
https://www.torexgold.com/news/...results-with-record-gold-production
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