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Posted by on Apr 27, 2018 in 2014 | 0 comments

2018-04-27 Robex Resources Inc. generated cash flow from operating activities of $24.2 million and revenues of $57.2 million for its first year of commercial production.

 

Quebec City, Quebec, April 27, 2018 – Robex Resources Inc. ("Robex" and / or "the Company") (TSXV: RBX / FWB: RB4) is pleased to publish their financial results for the year ended December 31, 2017.

All amounts are in Canadian dollars.

Highlights for the year of 2017

  • Cash flows from operating activities(1) of $23.2 million or $0.040 per share(2)
  • 36,997 gold ounces produced, and 34,801 gold ounces sold for $57.2 million
  • Total cash cost(2) of $618 per ounce sold and all-included sustaining cost(2) of $906 per ounce sold
  • Adjusted net income attributable to equity shareholders(2) of $11.1 million or $0.019 per share(2)
  • Intensive exploration program that included 16,525 meters of drilling, which began in October 2017 and ended during the first few days of March 2018

Highlights for the fourth quarter of 2017

  • Cash flows from operating activities(1) of $5.5 million or $0.009 per share(2)
  • 11,099 gold ounces produced, and 9,069 gold ounces sold for $14.8 million
  • Total cash cost(2) of $641 per ounce sold and all-included sustaining cost(2) of $1,040 per ounce sold
  • Adjusted net income attributable to equity shareholders(2) of $1.7 million or $0.003 per share(2)

 

Mining operation: Nampala, Mali

 

2017

2016

Operating Data

 

 

Ore mined (tonnes)

1,451,497

        680,621

Ore processed  (tonnes)

1,615,966

719,090

Waste mined (tonnes)

2,184,546

1,613,814

Operational stripping ratio*

1.5

2.4

Head grade  (g/t)

0.85

0.82

Recovery (%)

83.9%

80.3%

Gold ounces produced

36,997

12,051

Gold ounces sold

34,801

12,051

Financial Data

 

 

(rounded to the nearest thousand dollars)

 

 

Revenues – Gold sales

57,152,000

Mining operation expenses

19,889,000

Mining royalties

1,619,000

119,000

Administrative expenses

5,334,000

1,685,000

Depreciation of property, plant and equipment and amortization of intangible assets

7,707,000

663,000

Segment operating income (loss)

22,603,000

(2,467,000)

Statistics (3)

 

 

(in Canadian dollars)

 

 

Average realized selling price per ounce

1,642

Cash operating cost per tonne processed

13

Total cash cost per ounce sold(4)

618

All-in sustaining cost per ounce sold(4)

906

Administrative expenses per ounce sold(4)

153

Depreciation of property, plant and equipment per ounce sold

221

 

ROBEX’S MD&A and the consolidated financial statements are available on the Company's website in the Investors 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, total cash cost, all-in sustaining cost and adjusted net income attributable to equity shareholders are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, on page 28.

(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.

(4) Cash operating cost, total cash cost and all-in sustaining cost are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, on page 28.

 

For Information:

Ressources Robex Inc.

Guillaume Emond, CPA, CMA, VP Admin

Augustin Rousselet, CFO et COO

Head office : (581) 741-7421

info@robexgold.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.