GlobeNewswire
Robex Assets Inc. Reaches A New File Quarterly Turnover of CAD 45.9 Million
QUEBEC CITY, Nov. 26, 2020 (GLOBE NEWSWIRE) — Robex Assets Inc. (“Robex” or “the Company”) (TSXV: RBX/FWB: RB4) is happy to report its monetary outcomes for the quarter ending September 30, 2020. All quantities offered are in Canadian {dollars} (CAD).Highlights of the third quarter of 2020: * GOLD SALES INCREASED BY 80% Over the third quarter of 2020, 18,121 ounces of gold have been offered for a complete of CAD 45.9 M, together with all 7,831 ounces of the gold ingot stocks from June 30 for a complete of CAD 19.5 M, in comparison with the 13,276 ounces of gold that have been offered for CAD 25.5 M in the identical interval in 2019, thus an 80% enhance. As a reminder, the distinction between the variety of ounces of gold offered and the variety of ounces of gold produced throughout the durations is because of the timing of shipments, and to the Firm’s liquidity administration. * 224% INCREASE FOR NAMPALA’S OPERATING INCOME The mine generated an working revenue of CAD 28 M for the third quarter of 2020, in comparison with CAD 8.6 M for a similar interval in 2019, together with CAD 3.5 M within the amortization of fastened belongings for this 2020 quarter and CAD 7.Four M for a similar interval in 2019. Final October, the Firm filed a NI 43-101 technical report containing the mineral assets and reserve estimates for the Nampala mine as at July 31, 2020, which has prolonged the Nampala mine’s life to over eight years, thereby slowing the amortization charge. * PRODUCTION COSTS For the third quarter of 2020, there was a short lived 29% lower in manufacturing, which reached 10,706 ounces in comparison with 15,175 ounces for a similar interval in 2019. * The wet season was extraordinarily lengthy and heavy this 12 months, making the ore from the underside of the principle pit inaccessible. Usually, every spring, a higher-grade ore is deposited on the ROM pad to keep up manufacturing ranges in anticipation of the wet season, a interval when pit excavation is harder. Nonetheless, the restriction on the variety of folks on the mine web site throughout the lockdown within the second quarter of 2020 has restricted pit excavation and due to this fact prevented us from doing so. Within the third quarter of 2020, we needed to course of lower-grade ore (0.86 g/t in comparison with 1.05 g/t for a similar interval in 2019). * Additionally, the opening of the east pit led us to course of floor ore which, as has beforehand been the case in the principle pit, is of a decrease grade than the core of the mineralized zone.Consequently: The all-in sustaining value per ounce sold1 is of CAD 1,072 for the third quarter of 2020, in comparison with CAD 893 per ounce offered for a similar interval in 2019. The rise is primarily defined by the decrease grade, which has resulted in fewer ounces being produced from the identical tonnage of processed ore.Relatively than smoothing this one-time state of affairs, it was determined to execute the mining plan at its financial optimum, even when it meant having 1 / 4 with an obvious manufacturing underperformance. Nonetheless, this didn’t forestall us from reaching an total manufacturing for the primary 9 months of 2020 equal to the identical interval in 2019. You will need to observe that because the starting of the fourth quarter, the Nampala mine has recovered a richer ore grade and due to this fact manufacturing is extra in step with that obtained earlier than the wet season.Manufacturing prices capitalized as stripping prices have been of CAD 4.7 M within the third quarter of 2020, stemming from the truth that working new pits round the principle pit in 2020 has quickly concerned stripping work and, consequently, the removing of bigger quantities of waste rock to achieve the ore. * CASH F(LOW)S FROM OPERATING ACTIVITIES2 REPRESENTING 202% OF THOSE FOR THE SAME PERIOD IN 2019 The Firm’s working actions have generated cash flows of CAD 28.1 M (CAD 0.047 per share1), which corresponds to 61% of the turnover, in comparison with CAD 13.9 M (CAD 0,024 per share1) for a similar interval in 2019.Mining Operation: Nampala, Mali Third quarters ended September 30, 9-month durations ended September 30, 2020 2019 2020 2019 Working Knowledge Ore mined (tonnes) 406,005 477,676 1,364,376 1,378,787 Ore processed (tonnes) 438,367 512,377 1,398,547 1,370,536 Waste mined (tonnes) 1,559,460 645,784 3,924,692 2,309,402 Operational stripping ratio3.8 1.4 2.9 1.7 Head grade (gpt)0.86 1.05 0.99 1.01 Restoration (%)88.2%87.7%89.1%86.5% Gold ounces produced 10,706 15,175 39,545 38,324 Gold ounces offered 18,121 13,276 39,267 35,971 Monetary Knowledge (rounded off to the closest thousand {dollars}) Income – Gold gross sales 45,864,000 25,478,000 92,442,000 64,789,000 Mining operation bills 11,194,000 7,489,000 22,357,000 22,027,000 Mining royalties 1,085,000 681,000 2,226,000 1,891,000 Administrative bills 2,095,000 1,284,000 6,295,000 4,626,000 Depreciation of property, plant and tools and amortization of intangible belongings 3,488,000 7,384,000 17,635,000 23,193,000 Phase working revenue 28,002,000 8,640,000 43,929,000 13,052,000 Statistics (in {dollars}) Common realized promoting price (per ounce) 2,531 1,919 2,354 1,801 Cash working value (per tonne processed)1 20 16 17 17 Whole cash value (per ounce offered)1 678 615 626 665 All-in sustaining value (per ounce offered) 1 1,072 893 1,064 988 Administrative bills (per ounce offered) 116 97 160 129 Depreciation of property, plant and tools (per ounce offered) 192 556 449 645 Robex’s MD&A and the condensed interim consolidated monetary statements (unaudited) can be found on the Firm’s web site within the Traders part at robexgold.com. These reviews and different paperwork produced by the Firm are additionally out there at sedar.com.Steady improvementThe Nampala mine stays centered on enhancing secure manufacturing performances: * In early November, a brand new discharge line was put in, growing the diameter from 315 to 450 mm, to extend manufacturing whereas lowering pump velocity; * A cone crusher is scheduled to be put in–tools is at present being delivered; * A brand new mechanical workshop is being accomplished. It’s larger and far nearer to the plant, and it’ll velocity up the work; * A 500 m3 diesel tank is being put in to extend diesel reserves and higher safe manufacturing.To enhance web site safety, 9 members of the Nationwide Guard at the moment are completely posted on the Nampala web site to assist the police crew and our personal safety service.A phrase from the President, Mr. Georges Cohen:Efficiency is extraordinarily passable regardless of a slight value enhance ensuing from an unusually difficult wet season and the impacts of the pandemic. Initiatives are frequently underway to optimize performances on the Nampala mine. Our prospecting marketing campaign continues to be very promising; the work and monetary efforts will, I hope, make it doable to extend annual manufacturing.For data:Robex Assets Inc.Benjamin Cohen, CEO Augustin Rousselet, CFO/COO Head workplace: (581) 741-7421 information@robexgold.comThis information launch comprises statements that may be thought of “forecast information” or “forecast statements” by way of safety rights. These forecasts are topic to uncertainties and dangers, a few of that are past the management of Robex. Achievements and closing outcomes may differ considerably from forecasts made implicitly or explicitly. These variations could be attributed to many elements, together with market volatility, the affect of the exchange charge and rate of interest fluctuations, mispricing, the setting (hardening of rules), unexpected geological conditions, unfavourable working circumstances, political dangers inherent in mining in creating international locations, modifications in authorities insurance policies or rules (legal guidelines and insurance policies), an lack of ability to acquire vital permits and approvals from authorities businesses, or every other threat related to mining and growth. There could be no assurance that the circumstances set out in these forecasts will happen, and even profit Robex, if any. The forecasts are primarily based on the estimates and opinions of the Robex administration crew on the time of publication. Robex makes no dedication to make any updates or modifications to those publicly out there forecasts primarily based on new data or occasions, or for every other motive, besides as required by relevant safety legal guidelines. The TSX Enterprise Trade or the Regulation Companies Supplier (as outlined within the insurance policies of the TSX Enterprise Trade) assumes no accountability for the authenticity or accuracy of this information launch.1 Cash working value, complete cash value, all-in sustaining value and cash flows from working actions per share are non-IFRS monetary efficiency measures with no customary definition underneath IFRS. See the “Non-IFRS Monetary Efficiency Measures” part of the MD&A. 2 Cash flows from working actions exclude the online variation of non-cash working capital components.
