Québec City, Quebec, November 28, 2019 – 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, 2019.
All amounts are in Canadian dollars.
Highlights for the third quarter of 2019
- INCREASE IN GOLD PRODUCTION OF 19%
Gold production reached 15,175 ounces (472 kg) compared to 12,772 ounces (397 kg) during the same period in 2018, which is the best quarter ever.This quarterly production record is the result of:
- An 18% increase in ore processed (512,377 tonnes vs 432,538 tonnes in 2018, a record average of 5,569 t/d with an initial planned capacity of 4,000 t/d);
- A 10% decrease in downtime per quarter over the last 4 quarters, resulting in an availability of 92.2%;
- Higher processed grade (1.05 g/t Au vs 0.97 g/t Au in Q3 2018); and
- Improvement in the recovery rate (87.7% vs 87.3%) despite the increase in production and therefore the decrease in retention time in the CIL.
- INCREASE IN REVENUE OF 29%
Gold sales of $25.5 million compared to $19.8 million for the same period of 2018.
- INCREASE IN OPERATING INCOME OF 22%
Operating income reached $7.3 million compared to $6 million for the same period in 2018, despite the $4.2 million increase in the quarterly amortization rate (in accordance with IFRS).
- INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES  OF 78%
The cash flows from operating activities  reached $13.9 million ($0.024 per share ) compared to $7.8 million ($0.013 per share ) for the same period of 2018.
- DECREASE IN DEBT OF 9.3 MILLION IN ONLY ONE QUARTER
- REPAYMENT OF ONE-THIRD OF THE PRINCIPAL OF DEBENTURES
In addition, on November 26, 2019, all non‐convertible debentures and accrued interest were repaid
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.
 Cash flows from operating activities exclude net change in non-cash working capital items.
 Cash flows from operating activities per share are non-IFRS financial measures for which there is no standardized definition under IFRS. Se the “Non-IFRS Financial Performance Measures” section of the MD&A, on page 40.
 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 40.
A word from the President Mr. Georges Cohen:
“Beyond the improved results due to the price of gold, it is interesting to note that all production parameters (tonnage, grade, recovery, availability, production cost per ounce of gold, etc.) have all improved significantly, thus contributing in a sustainable and structural way to the company’s performance. These results were obtained through efforts focused on the mine’s process and organization. I congratulate the teams who contributed to this fundamental work.
Mindful of the recent dramatic events that have struck some mines in West Africa, we have further strengthened our procedures and means of protecting property and people.”
Robex Resources Inc.
Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
Head office: 581-741-7421
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.