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Posted by on Aug 30, 2017 in 2017 | 0 comments

2017-08-30 Robex Resources generated net cash flow from operating activities of $6.9 million in the second quarter of 2017 for revenues of $15.2 million

 

Quebec, Quebec (August 30, 2017) – Robex Resources Inc. ("Robex" and/or "the Company") (TSXV: RBX / FWB: RB4) is pleased to announce their financial and operating results for the quarter ended June 30, 2017. This second quarter has given encouraging results.

 

Unless otherwise indicated, all amounts are in Canadian dollars.

Highlights for the second quarter of 2017

  • Net cash flows from operating activities(1) of $6.9 million or $0.012 per share(2), an increase of 35 % compared with the first quarter of 2017  ($5.1 million or 0,009 $ per share(2))
  • 8,987 gold ounces sold for $15.2 million, an increase of 22 % compared to the first quarter of 2017 (7,548 gold ounces sold for $12.4 million)
  • Total cash costs(2) of $591 per ounce sold and all-included sustaining costs(2) of $873 per sold ounce (total cash costs(2) of $665 per ounce sold  and all-included sustaining costs(2) of $891 $ per ounce sold  in the first quarter of 2017)
  • Adjusted net income attributable to equity shareholders(2) of $3.8 million or $0.007 per share(2), an increase of 38 % compared to the first quarter of 2017 ($2.7 million or $0.005 per share(2))
  • 16,525 drilling meters planned at the Nampala mine, starting on October 1st, 70 % of which will be RC drilling and 30 % of core drilling, with the primary objective of increasing the exploitable resources at Nampala

 

Mining operation: Nampala, Mali

 

Second quarters
ended June 30,

First halves
ended June 30,

 

2017

2016

2017

2016

Operating Data

 

 

 

 

 

 

 

 

 

Ore mined (tonnes)

         379,719

         151,149

         645,148

         268,268

Ore processed  (tonnes)

         381,710

         102,998

         741,919

         240,418

Waste mined (tonnes)

         615,750

  316,821 

      1,219,487

         622,188

Operational stripping ratio

1.6

2.1

1.9

2.3

Head grade  (g/t)

0.77

0.89

0.85

0.84

Recovery (%)

85.9 %

81,8 %

85,9 %

83.2 %

Gold ounces produced

              8,965

              2,985

           16,735

             3,443

Gold ounces sold

              8,987

              2,985

           16,535

             3,443

 

 

 

 

 

Financial Data

 

 

 

 

(all amounts below were rounded to the nearest thousand dollars)

 

 

 

 

Revenues – Gold sales

 15,207,000

 27,613,000

 

 

 

 

 

Mining operation expenses

 4,941,000

 9,659,000

Change in environmental liabilities

              6,000

              9,000

           12,000

         (18,000)

Mining royalties

         363,000

            29,000

         657,000

           34,000

Administrative expenses

 1,479,000

168 000

 2,296,000

382 000

Depreciation of property, plant and equipment

 1,940,000

            43,000

 3,537,000

         191,000

 

 

 

 

 

Segment operating income

 6,478,000

       (249,000)

 11,451,000

       (589,000)

 

 

 

 

 

Statistics(3)

 

 

 

 

(all amounts below are expressed in dollars)

 

 

 

 

Average realized selling price
(per ounce)

              1,692

             1,670

Cash operating cost
(per tonne processed)(2)

11

12

Total cash cost (per ounce sold)(2)

591

625

All-in sustaining cost
(per ounce sold)(2)

873

881

Administrative expenses
(per ounce sold)

165

139

Depreciation of property, plant and equipment (per ounce sold)

216

214

 

Exploration
Nampala Mining site

The drilling program has been fully planned and includes 4,750 meters of core drilling and 11,775 meters of reverse circulation (“RC“) drilling. The drillings will begin once the rainy season is over, around October 1st, 2017 and will take place in the last quarter of 2017.

 

ROBEX's Management's Discussion and Analysis and Consolidated Financial Statements are available on the Company's website in the Investor section at: Robexgold.com. These reports and other documents produced by the Company are also available at: Sedar.com.

 

(1) Cash flows from operating activities exclude changes in non-cash working capital items.

(2) Operating cash flows per share, adjusted net income attributable to equity shareholder, cash operating cost, total cash cost and all-in sustaining costs are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS financial measures" section of MD&A, on page 32.

(3) The statistics relate entirely to the mining operations of the Nampala mine. As the mine was not in commercial operation in 2016, the comparative does not apply for this period.

 

 

For Information:

Renmark Financial Communications Inc.

Ressources Robex Inc.

Bettina Filippone

Guillaume Emond, CPA, CMA, VP Admin

Montreal : (514) 939-3989

Toronto : (416) 644-2020

Head office : (581) 741-7421

bfilippone@renmarkfinancial.com

info@robexgold.com

www.renmarkfinancial.com

www.robexgold.com

 

This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex’s management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.