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Posted by on May 31, 2018 in 2014 | 0 comments

2018-05-30 Robex Resources Inc. generated cash flow from operating activities of $11.3 million in the first quarter of 2018 for revenues of $20.6 million

 

Quebec City, Quebec, May 30, 2018 – Robex Resources Inc. ("Robex" and / or "the Company") (TSXV: RBX / FWB: RB4) is pleased to publish their financial results for the quarter ended March 31, 2018.

All amounts are in Canadian dollars.

Highlights for the first quarter of 2018

(Compared to the same period in 2017)

  • INCREASE OF IN GOLD PRODUCTION OF 54%

Gold production of 11,989 ounces (372.9 kg) compared to 7,771 (241.7 kg) ounces for the same period in 2017

  • INCREASE IN SALES (REVENUES) OF 66%

Gold sales of $20.6 million compared to $12.4 million for the same period of 2017

  • INCREASE IN OPERATING INCOME BY 56%

Operating income of $6.9 million compared to $4.4 million for the same period in 2017

  • INCREASE IN ADJESTED NET RESULTS ATTRIBUTABLE TO SHAREHOLDERS2 OF 78%

Net income attributable to equity shareholders2 of $4.8 million or $0.008 per action2 compared to $2.7 million or $0.005 per action2 for the same period in 2017

  • INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES1 OF 88%

Cash flows from operating activities1 of $9.6 million or $0.017 per action2 compared to $5.1 million or $0.009 per action2 for the same period in 2017

  • DECREASE IN TOTAL COST2 OF $26 PER SOLD OUNCE

 Total cash cost2 of $638 per ounce sold compared to $664 per ounce sold for the same period in 2017

  • DECREASE IN THE COMPAGY’S LIABILITIES OF $2.2 MILLION

Decrease in the Company’s liabilities of $2.2 million compared to December 31, 2017

  • INCREASE IN EQUITY OF $9.2 MILLION

Increase in value to the shareholders (book value) of $9.2 million compared to December 31, 2017

 

Mining operation: Nampala, Mali

 

First quarters ended March 31,

 

2018

2017

Operating Data

 

 

Ore mined (tonnes)

491,342

270,721

Ore processed  (tonnes)

445,226

359,945

Waste mined (tonnes)

1,047,870

616,567

Operational stripping ratio

2.1

2.3

Head grade  (gpt)

0.93

0.93

Recovery (%)

83.9%

85.9%

Gold ounces produced

11,989

7,771

Gold ounces sold

11,989

7,548

Financial Data

 

 

(rounded to the nearest thousand dollars)

 

 

Revenues – Gold sales

20,573,000

12,405,000

Mining operation expenses

6,973,000

4,718,000

Mining royalties

672,000

294,000

Administrative expenses

1,549,000

816,000

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

2,906,000

1,597,000

Segment operating income

8,473,000

4,980,000

Statistics

 

 

(in Canadian dollars)

 

 

Average realized selling price per ounce

1,716

1,643

Cash operating cost per tonne processed3

14

14

Total cash cost per ounce sold3

638

664

All-in sustaining cost per ounce sold3

1,019

945

Administrative expenses per ounce sold

129

108

Depreciation of property, plant and equipment per ounce sold

242

212

 

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 24.

(3) 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 24.

 

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.