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06.08.2019 23:31
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SEMAFO: Cash Flow from Operating Activities before Changes in non-Cash Working Capital of $74 Million
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PR Newswire
MONTREAL, Aug. 6, 2019
Bantou Resource Goal of 2.5 - 3.0 Million Ounces by End of 2020
MONTREAL, Aug. 6, 2019 /CNW/ - SEMAFO Inc. (TSX: SMF) (OMX: SMF) is pleased to announce another solid quarter of operations, development and exploration activities for the three-month period ended June 30, 2019. All amounts are in US dollars unless otherwise stated.
Highlights
- Consolidated gold production of 99,800 ounces
- Cash flow from operating activities before changes in non-cash working capital1 of $74.3 million or $0.22 per share1
- Net income attributable to shareholders of $15.7 million or $0.05 per share
- Acquisition of Savary Gold closed April 30, 2019
- Discovery of new Bantou Nord Zone, 1.5km northeast of Bantou Zone
- Three rigs drilling at Bantou with resource goal of 2.5 - 3.0M ounces by end of 2020
- Balance sheet remains conservative with net cash and 100% exposure to upside in gold price
Benoit Desormeaux, President and Chief Executive Officer of SEMAFO, states: "We had a strong second quarter where our operations performed well and with the discovery of the Bantou Nord Zone, our resource goal of 2.5 - 3.0M ounces by end of 2020 for Bantou and Karankasso is well within reach. Our two investor days in the quarter highlighted a team that has been working together at SEMAFO for over 15 years, and we saw the benefits of this in our results. After quarter-end, a pit wall failure occurred at Mana. While we are disappointed that this will affect our 2019 production and results, we are pleased to note that no-one was injured and that the ounces have only been deferred to 2020."
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| 1 | Cash flow from operating activities before changes in non-cash working capital and per share are a non-IFRS financial performance measure with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, note 19. |
| Consolidated Results and Mining Operations | ||||||
| | | | ||||
| | Three-month period ended June 30, | Six-month period ended June 30, | ||||
| | 2019 | 2018 | Variation | 2019 | 2018 | Variation |
| Gold ounces produced | 99,800 | 45,700 | 118% | 202,200 | 91,200 | 122% |
| Gold ounces sold | 102,700 | 45,100 | 128% | 208,800 | 92,000 | 127% |
| | | | | | | |
| (in thousands of dollars, except amounts per ounce, per tonne and per share) | | | | | | |
| Revenues – Gold sales | 134,985 | 58,517 | 131% | 273,526 | 121,215 | 126% |
| Operating income (loss) | 32,741 | (7,558) | — | 73,100 | (15,623) | — |
| | | | | | | |
| Net income (loss) attributable to shareholders of the Corporation | 15,705 | (10,431) | — | 33,371 | (15,141) | — |
| Basic earnings per share | 0.05 | (0.03) | — | 0.10 | (0.05) | — |
| Diluted earnings per share | 0.05 | (0.03) | — | 0.10 | (0.05) | — |
| | | | | | | |
| | | | | | | |
| Cash flow from operating activities before changes in non-cash working capital1 | 74,339 | 15,839 | 369% | 153,319 | 34,230 | 348% |
| Per share1 | 0.22 | 0.05 | 340% | 0.47 | 0.11 | 327% |
| | | | | | | |
| Average realized selling price (per ounce) | 1,313 | 1,298 | 1% | 1,310 | 1,317 | (1%) |
| Total cash cost (per ounce sold)¹ | 522 | 858 | (39%) | 503 | 853 | (41%) Werbung Mehr Nachrichten zur Semafo Aktie kostenlos abonnieren
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