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Posted by on Nov 29, 2018 in 2014 | 0 comments

2018-11-29 Robex Resources Inc. Generates Cash Flow from Operating Activities of $5.2 Million in the Third Quarter of 2018 for Revenue of $19.8 Million

 

Quebec City, Quebec, November 29, 2018 – Robex Resources Inc. ("Robex" and/or "the Company") (TSXV: RBX / FWB: RB4) is pleased to publish their financial results for the quarter ended September 30, 2018.

 

All amounts are in Canadian dollars.

Highlights for the third quarter of 2018

(Compared to the same period in 2017)

  • INCREASE IN GOLD PRODUCTION OF 39%

Gold production of 12,772 ounces (397.3 kg) compared to 9,163 ounces (285 kg) for the same period in 2017

  • INCREASE IN SALES (REVENUE) OF 34%

 Gold sales of $19.8 million compared to $14.8 million for the same period of 2017

  • INCREASE IN ADJUSTED NET INCOME ATTRIBUTABLE TO EQUITY SHAREHOLDERS1 OF 41%

Net income attributable to equity shareholders1 of $4 million or $0.007 per action1 compared to $2.8 million or $0.005 per action1 for the same period in 2017

  • INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES2 OF 36%

Cash flows from operating activities2 of $7.8 million or $0.013 per action1 compared to $5.7 million or $0.010 per action1 for the same period in 2017

  • INCREASE IN EQUITY OF $2.9 MILLION

Increase in value to the shareholders (book value) of $2.9 million compared to June 30, 2018

 

Mining operation: Nampala, Mali

 

Third quarters ended September 30,

Nine-month periods ended September 30,

 

2018

2017

2018

2017

Operating Data

 

 

 

 

Ore mined (tonnes)

365,759

325,524

 1,306,075

972,299

Ore processed  (tonnes)

 432,538

404,038

 1,313,988

 1,145,956

Waste mined (tonnes)

474,115

307,107

 2,341,676

 1,531,361

Operational stripping ratio

1.3

0.9

1.8

1.6

Head grade  (g/t)

0.97

0.80

0.95

0.84

Recovery (%)

87.3%

83.5%

84.5%

85.9%

Gold ounces produced

12,772

9,163

36,477

25,898

Gold ounces sold

12,733

9,197

36,203

25,732

Financial Data

 

 

 

 

(rounded to the nearest thousand dollars)

 

 

 

 

Revenue – Gold sales

 19,820,000

 14,787,000

 59,769,000

 42,399,000

Mining operation expenses

 6,778,000

 4,899,000

 19,977,000

 14,558,000

Mining royalties

682,000

479,000

 1,984,000

 1,137,000

Administrative expenses

 1,707,000

 1,195,000

 4,825,000

 3,484,000

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

 3,175,000

 1,999,000

 8,998,000

 5,536,000

Segment operating income

 7,478,000

 6,215,000

 23,985,000

 17,684,000

Statistics

 

 

 

 

(in Canadian dollars)

 

 

 

 

Average realized selling price per ounce

  1,557

1,608

1,651

1,648

Cash operating cost per tonne processed3

15

13

15

13

Total cash cost per ounce sold3

586

585

607

610

All-in sustaining cost per ounce sold3

827

774

921

858

Administrative expenses per ounce sold

134

130

133

135

Depreciation of property, plant and equipment per ounce sold

249

217

249

215

 

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.

1Adjusted net income attributable to equity shareholders and operating cash flows per share 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 29.

2Cash flows from operating activities exclude changes in non-cash working capital items.

3Cash 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 29.

 

For Information:

Robex Resources 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.