K92 Mining Inc Releases Strong 2020 Q2 Financial Results Including Records for Revenue, Cash Flow and Net Cash
Financials
Sold 27,149 ounces of gold, 566,084 lbs of copper and 11,729 ounces of silver. Gold concentrate inventories of 3,439 ounces as of June 30, 2020, a quarterly decrease of 1,474 ounces.
Record quarterly revenue of US$47.9 million, a 105% increase from Q2 2019.
Record operating cash flow (before working capital adjustments) of US$30.3 million or US$0.14 per share and EBITDA of US$29.7 million or US$0.14 per share.
Net income of US$16.9 million or US$0.08 per share.
Balance sheet significantly strengthened, with cash increasing by US$13.1 million to US$34.7 million and debt decreasing by US$4.2 million to US$9.1 million as at June 30, 2020.
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