Rockwell looks to restructuring and cost reductions, to manage the transition from end of life operations to new projects/operations.
|
|
- Erika Bryant
- 5 years ago
- Views:
Transcription
1 Rockwell looks to restructuring and cost reductions, to manage the transition from end of life operations to new projects/operations. January 14, 2016, Johannesburg, South Africa -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX:RDI; JSE:RDI) announces results for the three months ended November 30, Currency values are presented in Canadian dollars, unless otherwise indicated. FINANCIAL HIGHLIGHTS Q3 F2016 Q3 F2015 % Change Q2 F2016 % Change F2015 Total revenue ($m) (62) 21.0 (66) 68.0 Rough diamond sales ($m) (41) 12.3 (44) 56.9 Beneficiation revenue ($m) (86) 8.7 (98) 11.1 Average price per carat sold (US$) 1,328 1, ,783 (26) 1,345 Gross (los) / profit before amortization and depreciation ($m) Average cash operating cost / m 3 (US$) Cash generated from operations ($m) Profit / (loss) attributable to owners of the parent ($m) (5.1) (3.2) (0.8) (2.7) (89) 0.7 (9.3) (4.8) (14.0) Highlights Rockwell achieved 715,015 lost time injury free hours ( LTIFH ) at its MOR operations as at November 30, 2015, and subsequent to the fatality at the Remhoogte plant (September 3, 2015). The Company responded to the fatality with the immediate cessation of operations on both the Remhoogte and Holsloot properties for a two-week period. A full investigation into the circumstances of the accident was completed by the Department of Mineral Resources and the Company. Rockwell continues to strive for zero harm on all of its operations. Rockwell s third quarter performance was significantly affected by underperformance in volume processed due to the plant shutdown and in field screen throughput problems, as well as the continued weakness in global diamond pricing. Both negatively impacted its balance sheet, and limited its ability to invest in increased processing capacity. o Reduced volumes at RHC following the fatality in early September 2015 meant that this operation did not achieve the 1.0 million m 3 processing volumes necessary for the recovery of large stones. An in-
2 field screen was installed during December, 2015, increasing throughput going forward to an eventual 180,000m 3. o At Saxendrift, middlings material was processed, to maintain the operation for some period and defer closure. However, Company operation at this mine will be closed by the end of February 2016, redeploying equipment and key skills to Wouterspan where construction of a 200,000m 3 per month facility has commenced. Two royalty miners have been contracted to process the tailings, for periods of up to three years. All carats produced will be sold by the Company and a royalty received as revenue. The Company initiated a significant restructuring. Steps include delayering management, issuing s.189 orders to downsize the workforce, the closing of the Johannesburg corporate office, relocation of senior executives to the mine offices, and the development of the Company s property at Wouterspan. These steps were taken to place the business on a sustainable footing, and to reaffirm its commitment to processing 500,000m 3 per month from its MOR operations. Construction has commenced to recommission Wouterspan for operations in As part of rebuilding its operational footprint in the Middle Orange River ( MOR ) on the extensive land package held by the Company, exploration and development activities have been focused on prioritizing the portfolio with near term prospects and partnership opportunities with royalty miners on selected properties. Third quarter revenue was down 66% to $7.1 million from previous quarter, comprising $6.9 million from diamond sales and the balance from beneficiation revenue. Much of this decrease is due to the underrecovery of larger stones, causing average prices achieved to be under budget. A net loss was recorded of $9.3 million, driven by a 25% reduction in carats sold and a 44% decrease in US$ revenue compared to Q2 2016, mitigated somewhat by the strengthening of the US dollar against the Rand. The recorded loss was also impacted by the recognition of unrealized foreign exchange losses converting the US dominated debt raised to acquire the Bondeo assets in May There was also very little in the way of beneficiation income after the February 2015 pipeline clear-out. Since May 2015, US$4.4 million of acquisition and convertible debt has been repaid, with an outstanding balance remaining of US$16.8 million including accrued interest. Operating cash flows from diamond sales were used to service and repay debt, limiting the Company s ability to fast track its exploration and development projects. Average cash costs were up 20% from previous quarter to US$13.40 /m 3, as a result of lower volumes processed by MOR operations, and high fixed costs, as well as the two-week closure at RHC following the fatality on September 3, Volumes processed at RHC were down 27% on the second quarter, also impacting the grade, which was down 29%. Additional in field screening capacity was started to be installed towards the end of the quarter. At Saxendrift, the volume of gravel processed was up 15% quarter-on-quarter. Grades were in line with the prior year at 0.40 cphm 3 (carats per 100 m 3 ). Old dumps were processed during the quarter. It is expected
3 that these will be depleted by fiscal year end, at which point the Company will close its Company directed operations. Operations will continue indirectly through two royalty mining contractor agreements that will process the extensive tailings dumps in order to generate further value from Saxendrift. Priorities for the next quarter are as follows: o Implementation of the corporate restructuring, and closure of Saxendrift Company operations. o Recommissioning of the new processing plant at Wouterspan during fiscal o Ramping up throughput volumes at RHC to increase the recovery of larger stones. o Continued focus on exploration activities to extend the Company s resource base. Commenting on the third quarter financial performance, James Campbell, CEO and President said: We experienced tough operating conditions in the third quarter. Some was unfortunately due to the loss of our colleague in an accident, and some was due to processing volumes being materially impacted by bottlenecks in screening. In addition, lower carat production and pressure on global rough diamond prices contributed to a 66% decrease in US$ revenue from to Q to US$7.1 million. Having cleared out and recognized the value of the beneficiation pipeline in the previous quarter, our beneficiation income was only US$200,000. The lower carat sales were due to declining grades at Saxendrift and decreased volumes processed at RHC. While our production costs reduced 10% from the second quarter, to $11.3 million, our average cash costs increased 20% to US$13.40 /m 3, primarily because of the lower MOR volumes processed but also due to our high fixed equipment lease cost. We reported a gross loss before amortization and depreciation of $5.1 million and a loss for the period of $9.3 million. Despite the lower revenue, we continued to service the bridging loan, repaying a total of $0.8 million during the quarter. Our focus for the fourth quarter is to fully implement the corporate restructuring plan now and start delivering the anticipated cost benefits. This includes the immediate closure of our Johannesburg Head Office with several senior executives relocating to the MOR on a full time basis as well as shutting the Company s operations at Saxendrift. We have secured two royalty mining contractors to continue generating cash from this property, and both will in production by fiscal year end. In order to deliver on our 500,000m 3 per month processing target, we are expecting to commission a new processing facility at Wouterspan in 2016, with a total future monthly throughput target after commissioning of 200,000m 3. At RHC we believe we are now on track to begin processing volumes as high as 180,000m 3 per month, having now increased the in field screening capacity. Ongoing exploration is also high on the agenda to identify new economically viable resources. Financial review:
4 Revenue: Gross rough diamond revenues were $7.1 million (Q2 F2015: $18.9 million), a 62% decrease compared to last year. This was mainly due to the loss of the value of goods previously sourced from contractor sales at Tirisano after the disposal of that asset on March 28, 2015, lower beneficiation revenue in the quarter due to the pipeline having been cleared up to February 28, 2015 and lower carat volumes due to the loss of SHC and NJK not being made up by the acquisition of RHC. MOR carats sold were down 29% on the prior year with revenue from these operations decreasing by 50% from the prior year in US$ terms. Production Costs: Production costs decreased 21% from $14.3 million last year to $11.3 million, mainly due to the closure of NJK and lower actual volumes. On a unit basis the average cash cost for all the operations for Q3 F2016, increased 17% to US$13.40 per cubic metre processed (Q3 F2015: US$11.42) due to lower volumes and high fixed component of overall costs. Cost of sales before amortization and depreciation was 45% down on the previous year as a result of no cost of sales being reflected to the Tirisano royalty contractors, mining and processing cost reduction due to the closure of SHC and NJK and subsequent decrease in employee cost. Gross loss before amortization and depreciation: A gross loss before depreciation and amortization of $5.1 million was reported by the Group for Q3 2016, which compares to a gross loss of $3.2 million for the previous year. Cashflows: The group generated cash flow from operating activities of $0.4 million (Q3 F2015 $3.3 million outflow). Net cash position: At November 30, 2015 the Group had negative net cash and cash equivalents of $1.4 million (Q3 F2015: negative net cash and cash equivalents of $0.5 million), having recorded $5.7 million in debt repayments. Market update The prices of rough diamonds in general, declined by up to 18% in It is expected that diamond miners will remain under pressure over the next 12 to 18 months with slow jewellery sales and low continued credit availability for cutters and polishers which have led to a supply and demand mismatch in the current market. Large producers, who already cut prices last year may continue doing so in 2016, as well as reducing production in order to rebalance the market. Sightholders anticipate that prices will be lowered further at the De Beers next sight, starting on 18 January 2016 to bolster demand. The polished market was more resilient, with prices dropping 8% during 2015, before showing some recovery in the peak December trading period as shortages supported prices and dealers filled last-minute holiday orders in the US. Holiday season jewellery sales in the US were anticipated to be in the low single digit range. However, there was limited retailer diamond inventory buying due to uncertainty about US post holiday demand and the Chinese New Year, given the slowdown in Chinese economic growth. Manufacturers in India have reduced their production by some 30% since October 2015.
5 Given these market fundamentals, the six month outlook for rough diamond prices and demand is muted, while a recovery in China in the second half of the year could bring some relief. Outlook Rockwell remains focused on rebuilding its MOR production profile, delivering and processing budgeted volumes effectively, and delivering further growth opportunities from its project pipeline as well as new business opportunities. Immediate priorities include: Implementing the corporate restructuring, including closure of the Head Office and Company-wide resturturing of the workforce to reduce the overhead cost structure. Closing Company operations at Saxendrift by the end of February 2016 and transitioning the property to a royalty mining contractor operation, with the commencement of the first two miners activities. Commencement of redeployment of plant existing processing and mining equipment and commissioning of operations at Wouterspan from Saxendrift, Niewejaarskraal and some from Remhoogte. Bedding down the in field screening system at RHC and ramping up volumes at RHC to reach the original 180,000m 3 per month processing target. The Company also continues to evaluate new projects and value accretive consolidation opportunities to meet its strategy to become a mid tier diamond producer. Conference Call: Rockwell will host a telephone conference call on Friday 15, 2016 at 09:30 a.m. Eastern Time (16:30 p.m. Johannesburg / 14:30 p.m. London) to discuss these results. The conference call may be accessed as follows: Country Access Number Canada and USA (Toll-Free) South Africa (Toll-Free) South Africa Johannesburg South Africa Cape Town UK (Toll-Free) Other Countries (Intl Toll) Other countries Alternate A transcript of the audio webcast will be available on the Company's website:. The conference call will be archived for later playback until midnight (ET) January 20, 2016 and can be accessed by dialling the relevant number in the table below and using the pass code 44351#.
6 Country Access Number South Africa (Telkom) Canada and USA (Toll Free) Other Countries (Intl Toll) UK (Toll-Free) For further details, see Rockwell s complete financial results and Management Discussion and Analysis posted on the website and on the Company's profile at These include additional details on production, sales and revenues for the quarter, as well as comparative results for fiscal For further information on Rockwell and its operations in South Africa, please contact James Campbell CEO +27 (0) Stéphanie Leclercq Investor Relations +27 (0) David Tosi PSG Capital JSE Sponsor +27 (0) About Rockwell Diamonds: Rockwell is engaged in the business of operating and developing alluvial diamond deposits, with a goal to become a mid-tier diamond production company. Rockwell also has a development project and a pipeline of earlier stage properties with future development potential. The operations are based on a strategy of throughput processing and technology. Rockwell continuously strives to be the lowest cost producer in the industry. The Company is known for producing large, high quality gemstone comprising a major portion of its diamond recoveries that is enhanced through a beneficiation joint venture that enables it to participate in the profits on the sale of the polished diamonds. Rockwell also evaluates consolidation opportunities which have the potential to expand its mineral resources and production profile and to provide accretive value to the Company. Rockwell s common shares trade on the Toronto Stock Exchange and the JSE Limited under the symbol RDI. No regulatory authority has approved or disapproved the information contained in this news release. Forward Looking Statements Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
7 Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainties and costs related to the transaction and the ability of each party to satisfy the conditions precedent in a timely manner or at all, exploration and development activities, such as those related to determining whether mineral resources exist on a property; uncertainties related to expected production rates, timing of production and cash and total costs of production and milling; uncertainties related to the ability to obtain necessary licenses, permits, electricity, surface rights and title for development projects; operating and technical difficulties in connection with mining development activities; uncertainties related to the accuracy of our mineral resource estimates and our estimates of future production and future cash and total costs of production and diminishing quantities or grades if mineral resources; uncertainties related to unexpected judicial or regulatory procedures or changes in, and the effects of, the laws, regulations and government policies affecting our mining operations; changes in general economic conditions, the financial markets and the demand and market price for mineral commodities such as diesel fuel, steel, concrete, electricity, and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the US dollar, Canadian dollar and South African Rand; changes in accounting policies and methods that we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates; environmental issues and liabilities associated with mining and processing; geopolitical uncertainty and political and economic instability in countries in which we operate; and labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate our mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt operation of our mines or development projects. For further information on Rockwell, Investors should review Rockwell's home jurisdiction filings that are available at
Rockwell s fourth quarter performance shows positive progress on the back of recent strategic and operational review and subsequent restructuring
Rockwell s fourth quarter performance shows positive progress on the back of recent strategic and operational review and subsequent restructuring May 30, 2016, Vancouver, BC -- Rockwell Diamonds Inc. ("Rockwell"
More informationRockwell s fourth quarter operating performance impacted by lower grades and drop in carat sales partially offset by higher overall revenue
Rockwell Diamonds Inc. (A company incorporated in accordance with the laws of British Columbia, Canada) (Incorporation number BCO354545) (South African registration number: 2007/031582/10) Share code on
More informationRockwell s second quarter results reflect challenges identified in MOR; operational turnaround gains momentum
Rockwell s second quarter results reflect challenges identified in MOR; operational turnaround gains momentum October 17, 2016, Vancouver, BC -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX:RDI;
More informationCurrency values are presented in Canadian dollars, unless otherwise indicated. Salient features
ROCKWELL DIAMONDS INCORPORATED (A company incorporated in accordance with the laws of British Columbia, Canada) (Incorporation number BCO354545) (Formerly Rockwell Ventures Inc.) (South African Registration
More informationRockwell turns to the future after closing the Bondeo 140 cc acquisition
Rockwell Diamonds Inc. (A company incorporated in accordance with the laws of British Columbia, Canada) (Incorporation number BCO354545) (South African registration number: 2007/031582/10) Share code on
More informationRockwell reports tenth successive quarterly improvement and record diamond production and sales revenue
Rockwell reports tenth successive quarterly improvement and record diamond production and sales revenue December 15, 2014, Vancouver, BC Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX: RDI;
More informationRockwell reports increases in volumes processed and diamonds produced but lower grades for the fourth quarter of fiscal 2015
Rockwell Diamonds Inc. (A company incorporated in accordance with the laws of British Columbia, Canada) (Incorporation number BCO354545) (South African registration number: 2007/031582/10) Share code on
More informationRockwell s second quarter results reveal fifth consecutive quarter of revenue growth and improved operating profitability
Rockwell s second quarter results reveal fifth consecutive quarter of revenue growth and improved operating profitability October 10, 2013, Johannesburg, South Africa -- Rockwell Diamonds Inc. ("Rockwell"
More informationCommenting on Rockwell Diamonds, Mr James Campbell, CEO and president of Rockwell Diamonds said:
Rockwell Announces Results for Third Quarter of Fiscal 2012 Thursday January 12, 2012, Vancouver, BC -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX:RDI; JSE:RDI, OTCBB:RDIAF) announces results
More informationCORPORATE UPDATE: DIAMOND VALUE MANAGEMENT
WE HAVE MADE GOOD PROGRESS WITH OUR IMMEDIATE PRIORITIES TO IMPROVE PRODUCTION. IMPLEMENTATION OF NEW TECHNOLOGIES IS ON TRACK AT SAXENDRIFT AND PRODUCTION HAS STARTED AT TIRISANO. CORPORATE UPDATE: DIAMOND
More informationATLATSA ANNOUNCES RESULTS FOR THE QUARTER ENDED MARCH 31, Significant improvements in year-on-year Q1 operating performance
ATLATSA ANNOUNCES RESULTS FOR THE QUARTER ENDED MARCH 31, 2013 Significant improvements in year-on-year Q1 operating performance Year-on-year ZAR PGM unit costs decrease by 13% on improved production and
More informationRockwell Diamonds Inc. Unaudited Interim Consolidated Financial Statements for the period ended 31 August 2016
Unaudited Interim Consolidated Financial Statements for the period Index The reports and statements set out below comprise the unaudited interim consolidated financial statements: Index Page Consolidated
More informationANNUAL REPORT 2015 >>
ANNUAL REPORT 2015 >> ABOUT ROCKWELL Rockwell is engaged in the business of operating and developing alluvial diamond deposits, with a goal to become a mid tier diamond production company. Rockwell also
More informationTASEKO REPORTS SECOND QUARTER 2018 FINANCIAL AND OPERATIONAL RESULTS
TASEKO REPORTS SECOND QUARTER 2018 FINANCIAL AND OPERATIONAL RESULTS This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com
More informationTASEKO REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS
TASEKO REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com and
More informationTASEKO ANNOUNCES 43 MILLION POUNDS OF COPPER PRODUCTION AND FINANCIAL RESULTS FOR THE THIRD QUARTER
TASEKO ANNOUNCES 43 MILLION POUNDS OF COPPER PRODUCTION AND FINANCIAL RESULTS FOR THE THIRD QUARTER This release should be read with the Company s Financial Statements and Management Discussion & Analysis
More informationTASEKO REPORTS 2017 FOURTH QUARTER AND ANNUAL FINANCIAL RESULTS
TASEKO REPORTS 2017 FOURTH QUARTER AND ANNUAL FINANCIAL RESULTS This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com
More informationTASEKO REPORTS $42 MILLION OF ADJ. EBITDA IN THIRD QUARTER
TASEKO REPORTS $42 MILLION OF ADJ. EBITDA IN THIRD QUARTER This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com
More informationTASEKO REPORTS $62 MILLION OF CASH FLOW FROM OPERATIONS IN THE SECOND QUARTER 2017
TASEKO REPORTS $62 MILLION OF CASH FLOW FROM OPERATIONS IN THE SECOND QUARTER 2017 This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available
More informationFIRST MAJESTIC SILVER CORP. NEWS RELEASE. First Majestic Reports Second Quarter Financial Results
FIRST MAJESTIC SILVER CORP. Suite 1805 925 West Georgia Street Vancouver, B.C., Canada V6C 3L2 Telephone: (604) 688-3033 Fax: (604) 639-8873 Toll Free: 1-866-529-2807 Web site: www.firstmajestic.com; E-mail:
More informationTASEKO ANNOUNCES 43 MILLION POUNDS OF COPPER PRODUCTION AND FINANCIAL RESULTS FOR THE THIRD QUARTER
TASEKO ANNOUNCES 43 MILLION POUNDS OF COPPER PRODUCTION AND FINANCIAL RESULTS FOR THE THIRD QUARTER This release should be read with the Company s Financial Statements and Management Discussion & Analysis
More informationASANKO GOLD REPORTS Q RESULTS
PRESS RELEASE ASANKO GOLD REPORTS Q3 2018 RESULTS Vancouver, British Columbia, November 8, 2018 Asanko Gold Inc. ( Asanko or the Company ) (TSX, NYSE American: AKG) reports its third quarter ( Q3 ) 2018
More informationLUCARA REPORTS STRONG HALF YEAR RESULTS AND INCREASES FULL YEAR REVENUE GUIDANCE T0 $240-$250 MILLION
LUCARA REPORTS STRONG HALF YEAR RESULTS AND INCREASES FULL YEAR REVENUE GUIDANCE T0 $240-$250 MILLION AUGUST 13, 2014 (LUC TSX, LUC BSE, LUC NASDAQ OMX) Lucara Diamond Corp. ( Lucara or the Company ) today
More informationPROGRESS UPDATE ON STRATEGY AND FUTURE PLANS
PROGRESS UPDATE ON STRATEGY AND FUTURE PLANS JAMES CAMPBELL, CHIEF EXECUTIVE OFFICER MARCH 2012 2 AGENDA UNIQUE investment proposition Corporate OVERVIEW DIAMOND MARKET fundamentals Progress with top STRATEGIC
More information23 April 2018 LSE: PDL. Petra Diamonds Limited ( Petra, the Company or the Group ) Trading Update Q3 FY 2018 Production and Sales Report
23 April LSE: PDL Petra Diamonds Limited ( Petra, the Company or the Group ) Trading Update Production and Report Petra Diamonds Limited announces the following trading update (unaudited) for the period
More informationSAS REPORTS STRONG 2015 FIRST QUARTER RESULTS
NEWS RELEASE All dollar amounts are stated in Canadian dollars, unless otherwise indicated SAS REPORTS STRONG 2015 FIRST QUARTER RESULTS Toronto, Canada May 12, 2015 St Andrew Goldfields Ltd. (T-SAS),
More informationROCKWELL ANNOUNCES FURTHER DETAILS ON ITS ACQUISITION OF TRANS HEX S ALLUVIAL DIAMOND OPERATIONS & PROJECTS IN MIDDLE ORANGE RIVER AREA, SOUTH AFRICA
1020-800 West Pender Street Vancouver, BC Canada V6C 2V6 Tel 604 684 6365 Fax 604 684 8092 Toll Free 1 800 667 2114 www.rockwellventures.com TSX-V: RVI OTCBB: RVINF ROCKWELL ANNOUNCES FURTHER DETAILS ON
More informationNEWS RELEASE. Mountain Province Diamonds Announces March 31, 2018 Quarter End Results
NEWS RELEASE May 10, 2018 TSX and NASDAQ: MPVD Mountain Province Diamonds Announces March 31, 2018 Quarter End Results Toronto and New York, May 10, 2018 Mountain Province Diamonds Inc. ( Mountain Province,
More informationNEWS RELEASE GREAT PANTHER SILVER REPORTS LOWER COSTS AND IMPROVED OPERATING MARGINS FOR THE THIRD QUARTER 2013
November 6, 2013 For Immediate Release NEWS RELEASE TSX: GPR NYSE MKT: GPL GREAT PANTHER SILVER REPORTS LOWER COSTS AND IMPROVED OPERATING MARGINS FOR THE THIRD QUARTER 2013 GREAT PANTHER SILVER LIMITED
More informationDr. John Bristow. Corporate Presentation December 2008 TSX:RDI JSE:RDI OTCBB:RDIAF
Dr. John Bristow Corporate Presentation December 2008 TSX:RDI JSE:RDI OTCBB:RDIAF Disclaimer This presentation includes certain statements and other information that may be deemed "forward-looking". Other
More information22 October 2018 LSE: PDL. Petra Diamonds Limited ("Petra" or the "Company" or the Group ) Trading Update Q1 FY 2019 Production and Sales Report
22 October 2018 LSE: PDL Petra Diamonds Limited ("Petra" or the "Company" or the Group ) Trading Update Q1 FY 2019 Production and Report Petra Diamonds Limited announces the following Trading Update (unaudited)
More informationCanaf Group Inc. Management Discussion & Analysis FORM F. For the Year Ended JANUARY 31, March 26, 2010
Canaf Group Inc. Management Discussion & Analysis FORM 51-102F For the Year Ended JANUARY 31, 2010 March 26, 2010 The following discussion and analysis of financial condition and results of operations
More informationDr. John Bristow. Corporate Presentation TSX:RDI JSE:RDI OTCBB:RDIAF. March 2009
Dr. John Bristow Corporate Presentation March 2009 TSX:RDI JSE:RDI OTCBB:RDIAF Disclaimer This presentation includes certain statements and other information that may be deemed "forward-looking". Other
More informationASANKO GOLD REPORTS Q4 AND FULL YEAR 2017 RESULTS, PROVIDES 2018 GUIDANCE AND A 5-YEAR OUTLOOK
PRESS RELEASE ASANKO GOLD REPORTS Q4 AND FULL YEAR 2017 RESULTS, PROVIDES 2018 GUIDANCE AND A 5-YEAR OUTLOOK Vancouver, British Columbia, March 15, 2018 Asanko Gold Inc. ( Asanko or the Company ) (TSX,
More informationDetour Gold Announces 2016 Operating Results and 2017 Guidance
January 30, 2017 NEWS RELEASE Detour Gold Announces 2016 Operating Results and 2017 Guidance Detour Gold Corporation (TSX: DGC) ( Detour Gold or the Company ) today announces fourth quarter and full year
More informationTASEKO REPORTS FOURTH QUARTER OPERATING CASH FLOW OF $50 MILLION
TASEKO REPORTS FOURTH QUARTER OPERATING CASH FLOW OF $50 MILLION This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com
More information2015 First Quarter Highlights
News Release B2Gold Reports First Quarter 2015 Results. Reports a 20% Increase in Gold Production; Cash Operating Costs $51 Per Ounce Below Budget. New Otjikoto Mine Continues to Beat Expectations. Vancouver,
More informationTASEKO REPORTS $42 MILLION OF ADJ. EBITDA IN THIRD QUARTER
TASEKO REPORTS $42 MILLION OF ADJ. EBITDA IN THIRD QUARTER This release should be read with the Company s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com
More informationRevenues of $152.0 million on gold sales of 113,845 ounces at an average realized price of $1,281 per ounce
TORONTO, ONTARIO--(Marketwired - Nov 1, 2016) - Detour Gold Corp. (TSX:DGC) ("Detour Gold" or the "Company") reports its operational and financial results for the third quarter of 2016. This release should
More informationYoung-Davidson Achieves Record Underground Productivity of 4,900 tonnes per day in April
Gold Ounces Produced AuRico Gold Reports First Quarter Financial Results; Company-Wide Production of 54,027 Gold Ounces at Cash Costs of $696 per Ounce and Reconfirms Annual Guidance; Declares Dividend
More informationNEWS RELEASE. Lundin Mining Announces 2018 Production Results and Fourth Quarter and Full Year 2018 Results Date
Corporate Office 150 King Street West, Suite 2200 P.O. Box 38 Toronto, ON M5H 1J9 Phone: +1 416 342 5560 Fax: +1 416 348 0303 NEWS RELEASE Lundin Mining Announces 2018 Production Results and Fourth Quarter
More informationLEAGOLD ANNOUNCES 2018 EARNINGS, INCLUDING AISC OF $974/oz AND AISC MARGIN OF $83.2 MILLION
News Release TSX: LMC March 14, 2019 LEAGOLD ANNOUNCES 2018 EARNINGS, INCLUDING AISC OF $974/oz AND AISC MARGIN OF $83.2 MILLION (All amounts in US dollars, unless otherwise indicated) 2018 Highlights
More informationCorporate Presentation
Corporate Presentation September 2010 TSX:RDI JSE:RDI OTCBB:RDIAF Forward looking statements This presentation includes certain statements and other information that may be deemed "forward-looking". Other
More informationNEWS RELEASE LUNDIN MINING THIRD QUARTER RESULTS
Corporate Office 150 King Street West, Suite 1500 P.O. Box 38 Toronto, ON M5H 1J9 Phone: +1 416 342 5560 Fax: +1 416 348 0303 UK Office Hayworthe House, Market Place Haywards Heath, West Sussex RH16 1DB
More informationSAS REPORTS 2013 THIRD QUARTER RESULTS, WITH A SIXTH CONSECUTIVE QUARTER OF POSITIVE CASH FLOW FROM OPERATIONS
19/13 NEWS RELEASE All dollar amounts are stated in Canadian dollars, unless otherwise indicated SAS REPORTS 2013 THIRD QUARTER RESULTS, WITH A SIXTH CONSECUTIVE QUARTER OF POSITIVE CASH FLOW FROM OPERATIONS
More informationBlackwater Gold Project Update. Minerals North. Prince George, BC. April 26, 2017
Blackwater Gold Project Update Minerals North Prince George, BC April 26, 2017 1 Cautionary statements ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
More informationManagement s Discussion & Analysis
Management s Discussion & Analysis 2002 Consolidated Financial Statements CONTENTS 1. Introduction.........................................................................1 2. Overview of 2002.....................................................................1
More information2017 FIRST QUARTER RESULTS WEBCAST. April 27, 2017
2017 FIRST QUARTER RESULTS WEBCAST April 27, 2017 1 Speaker Hannes Portmann President and CEO 2 Cautionary statements ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED CAUTIONARY NOTE REGARDING FORWARD-LOOKING
More informationKinross Gold Corporation
For more information, please see Kinross 2017 year-end Financial Statements, MD&A and Projects and Exploration news release at www.kinross.com NEWS RELEASE Kinross reports 2017 fourth-quarter and full-year
More informationTrevali reports Q financial results
Trevali Mining Corporation 1400-1199 West Hastings Street Vancouver, British Columbia, CANADA V6E 3T5 Telephone: (604) 488-1661 www.trevali.com NEWS RELEASE Trevali reports Q3-2017 financial results EBITDA
More informationNEWS RELEASE Lundin Mining Third Quarter Results
Corporate Office 150 King Street West, Suite 2200 P.O. Box 38 Toronto, ON M5H 1J9 Phone: +1 416 342 5560 Fax: +1 416 348 0303 NEWS RELEASE Lundin Mining Third Quarter Results Toronto, October 24, 2018
More information29, 2018 ( ) (TSX, NYSE
PRESS RELEASE ASANKO GOLD TO RECEIVE US$185 MILLION FROM GOLD FIELDS FOR 50% JOINT VENTURE INTEREST AND US$17.6 MILLION FOR 9.9% PRIVATE PLACEMENT IN ASANKO GOLD Vancouver, British Columbia, March 29,
More informationThree months ended Twelve months ended December 31, December 31, US$ Millions (except per share amounts)
NEWS RELEASE Corporate Office 150 King Street West, Suite 1500 P.O. Box 38 Toronto, ON M5H 1J9 Phone: +1 416 342 5560 Fax: +1 416 348 0303 Lundin Mining Fourth Quarter and Full Year Results Toronto, February
More informationMajor Drilling Reports Second Quarter Results for Fiscal 2018
NEWS RELEASE Major Drilling Reports Second Quarter Results for Fiscal 2018 MONCTON, New Brunswick (November 30, 2017) Major Drilling Group International Inc. (TSX: MDI) today reported results for its second
More informationPRIMERO REPORTS FOURTH QUARTER AND FULL-YEAR 2016 RESULTS
PRIMERO REPORTS FOURTH QUARTER AND FULL-YEAR 2016 RESULTS (Please note that all dollar amounts in this news release are expressed in U.S. dollars unless otherwise indicated. Refer to the year-end 2016
More informationPretivm Reports Third Quarter 2018 Results
November 8, News Release 18-18 Pretivm Reports Third Quarter Results Brucejack Mine delivers profitability; significant cash build Vancouver, British Columbia, November 8, ; Pretium Resources Inc. (TSX/NYSE:PVG)
More informationNEWS RELEASE Lundin Mining Second Quarter Results
Corporate Office 150 King Street West, Suite 2200 P.O. Box 38 Toronto, ON M5H 1J9 Phone: +1 416 342 5560 Fax: +1 416 348 0303 NEWS RELEASE Lundin Mining Second Quarter Results Toronto, July 25, 2018 (TSX:
More informationDetour Gold Reports 2017 Fourth Quarter and Year-End Results
NEWS RELEASE Detour Gold Reports 2017 Fourth Quarter and Year-End Results March 8, 2018 Detour Gold Corporation (TSX: DGC) ( Detour Gold or the Company ) reports its financial results for the fourth quarter
More information24 April 2017 LSE: PDL. Petra Diamonds Limited ( Petra, the Company or the Group ) Trading Update Q3 FY 2017 Production and Sales Report
24 April LSE: PDL Petra Diamonds Limited ( Petra, the Company or the Group ) Trading Update Production and Report Petra Diamonds Limited announces the following trading update (unaudited) for the period
More informationMajor Drilling Reports First Quarter Results for Fiscal 2019
NEWS RELEASE Major Drilling Reports First Quarter Results for Fiscal 2019 MONCTON, New Brunswick (September 4, 2018) Major Drilling Group International Inc. (TSX: MDI) today reported results for its first
More informationLUCARA ON SCHEDULE TO COMPLETE PLANT OPTIMIZATION AND TO PROCESS SOUTH LOBE ORE
NEWS RELEASE FIRST QUARTER RESULTS: LUCARA ON SCHEDULE TO COMPLETE PLANT OPTIMIZATION AND TO PROCESS SOUTH LOBE ORE MAY 12, 2015 (LUC TSX, LUC BSE, LUC Nasdaq Stockholm) Lucara Diamond Corp. ( Lucara or
More information2016 Second Quarter Highlights
News Release B2Gold Corp. Achieves Record Second Quarter and First-Half 2016 Gold Production; Masbate Mine Produces 57,188 Ounces in Second Quarter 2016 Vancouver, July 13, 2016 B2Gold Corp. (TSX: BTO,
More informationMajor Drilling Reports Third Quarter Results for Fiscal 2018
NEWS RELEASE Major Drilling Reports Third Quarter Results for Fiscal 2018 MONCTON, New Brunswick (March 1, 2018) Major Drilling Group International Inc. (TSX: MDI) today reported results for its third
More informationCash generated by operating activities was $184.8 million in 2014 compared to $44.8 million in 2013.
February 19, 2015 news release Thompson Creek Reports Significantly Improved 2014 Financial Results Revenue of $807 Million, up 86%, Operating Cash Flow of $185 Million, up 313% and Cash Balance of $266
More information2018 SECOND QUARTER RESULTS WEBCAST. July 26, 2018
2018 SECOND QUARTER RESULTS WEBCAST July 26, 2018 1 Speakers Ray Threlkeld President and CEO Cory Atiyeh EVP Operations Paula Myson EVP and CFO 2 Cautionary statements ALL AMOUNTS IN U.S. DOLLARS UNLESS
More informationNEWS RELEASE GREAT PANTHER SILVER REPORTS FISCAL YEAR 2014 FINANCIAL RESULTS
March 4, 2015 For Immediate Release TSX: GPR NYSE MKT: GPL NEWS RELEASE GREAT PANTHER SILVER REPORTS FISCAL YEAR 2014 FINANCIAL RESULTS GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL; Great Panther
More information2017 Second Quarter Highlights
New Gold Announces 2017 Second Quarter Results; Rainy River Project Schedule and Cost Remain in Line with January 2017 Plan (All dollar figures are in US dollars unless otherwise indicated) July 26, 2017
More informationTrevali Reports 2017 Annual Financial Results
Trevali Mining Corporation 1400-1199 West Hastings Street Vancouver, British Columbia, CANADA V6E 3T5 Telephone: (604) 488-1661 www.trevali.com NEWS RELEASE Trevali Reports 2017 Annual Financial Results
More informationNEWS RELEASE LUNDIN MINING FOURTH QUARTER AND FULL YEAR RESULTS
Corporate Office 150 King Street West, Suite 1500 P.O. Box 38 Toronto, ON M5H 1J9 Phone: +1 416 342 5560 Fax: +1 416 348 0303 UK Office Hayworthe House, Market Place Haywards Heath, West Sussex RH16 1DB
More informationGOLD RECOVERIES OF 94% ON TRACK TO MEET ANNUAL PRODUCTION GUIDANCE. Canadian dollars unless otherwise noted
ATLANTIC REPORTS Q1 2018 PRODUCTION OF 18,183 OUNCES FIRST MONTH OF COMMERCIAL PRODUCTION IN MARCH OF 8,810 OUNCES GOLD RECOVERIES OF 94% ON TRACK TO MEET ANNUAL PRODUCTION GUIDANCE April 13, 2018 Canadian
More information23 October 2017 LSE: PDL. Petra Diamonds Limited ("Petra" or "the Company" or the Group ) Trading Update Q1 FY 2018 Production and Sales Report
This announcement contains inside information 23 October 2017 LSE: PDL Petra Diamonds Limited ("Petra" or "the Company" or the Group ) Trading Update Q1 FY 2018 Production and Report Petra Diamonds Limited
More informationABB posts stronger results in Q1. Sixth quarter in a row of higher core division earnings
ABB posts stronger results in Q1 Sixth quarter in a row of higher core division earnings Core divisions maintain double-digit order growth Group EBIT more than doubles to $233 million Cash flow from operations
More informationKinross provides outlook for Production expected to rise by 32 per cent as cost per ounce declines
News Release Kinross provides outlook for 2009 Production expected to rise by 32 per cent as cost per ounce declines Toronto, Ontario, January 7, 2009 Kinross Gold Corporation (TSX-K; NYSE-KGC) today provided
More informationPRIMERO ACHIEVES 2016 REVISED PRODUCTION AND COST GUIDANCE;
PRIMERO ACHIEVES 2016 REVISED PRODUCTION AND COST GUIDANCE; (Please note that all dollar amounts in this news release are expressed in U.S. dollars unless otherwise indicated.) Toronto, Ontario, January
More informationInvestor Presentation
TSX Venture: RVI OTCBB: RVINF Investor Presentation European Road Trip January-February 2007 John Bristow James Allan 1 Disclaimer This presentation includes certain statements and other information that
More informationDominion Diamond Corporation Reports Fiscal 2014 First Quarter Results
Reports Fiscal 2014 First Quarter Results TORONTO, CANADA (June 5, 2013) Dominion Diamond Corporation (TSX:DDC, NYSE:DDC) (the Company ) today announced its first quarter results for the period ending
More informationFocus on diamond value management:
Focus on diamond value management: Corporate presentation October 2011 TSX:RDI JSE:RDI OTCBB:RDIAF Forward looking statements Except for statements of historical fact, this presentation release contains
More informationNEWS RELEASE LUCARA DIAMOND CORP REPORTS THIRD QUARTER RESULTS
NEWS RELEASE LUCARA DIAMOND CORP REPORTS THIRD QUARTER RESULTS November 9, 2012 (LUC TSX, LUC BSE, LUC NASDAQ OMX First North) Lucara Diamond Corp. ( Lucara or the Company ) today reports its third quarter
More informationNews Release B2Gold Announces that the Malian Government Has Approved the Purchase of an Additional 10% Interest in the Fekola Mine (Fekola SA)
News Release B2Gold Announces that the Malian Government Has Approved the Purchase of an Additional 10% Interest in the Fekola Mine (Fekola SA) Vancouver, August 14, 2018 - B2Gold Corp. (TSX: BTO, NYSE
More informationMajor Drilling Announces Annual and Fourth Quarter Results
NEWS RELEASE Major Drilling Announces Annual and Fourth Quarter Results MONCTON, New Brunswick (June 7, 2018) Major Drilling Group International Inc. (TSX: MDI) today reported results for the year and
More informationApril 30, 2014 TSX: COS Canadian Oil Sands Announces First Quarter Results and a Reduction in Major Project Costs
April 30, 204 TSX: COS Canadian Oil Sands Announces First Quarter Results and a Reduction in Major Project Costs All financial figures are unaudited and in Canadian dollars unless otherwise noted. Higher
More informationGates Industrial Reports Record Third-Quarter 2018 Results
Gates Industrial Reports Record Third-Quarter 2018 Results Denver, CO, November 1, 2018 Third-Quarter 2018 Highlights Net sales up 8.9% year-over-year to third-quarter record of $828.4 million. Net income
More informationLABRADOR IRON MINES REPORTS THIRD QUARTER RESULTS. Requirement for Refinancing and Restructuring Voluntary Delisting from the TSX
LABRADOR IRON MINES REPORTS THIRD QUARTER RESULTS Requirement for Refinancing and Restructuring Voluntary Delisting from the TSX Toronto, Ontario, February 13, 2015. Labrador Iron Mines Holdings Limited
More informationLUCARA DIAMOND CORP. MANAGEMENT S DISCUSSION AND ANALYSIS DECEMBER 31, 2015
Management s Discussion and Analysis And Consolidated Financial Statements Year Ended December 31, 2015 MANAGEMENT S DISCUSSION AND ANALYSIS DECEMBER 31, 2015 Management s discussion and analysis ( MD&A
More informationCANADA S INTERMEDIATE GOLD PRODUCER
CANADA S INTERMEDIATE GOLD PRODUCER Fourth Quarter and Year-End 2017 Results Conference Call & Webcast March 9, 2018 1 Forward Looking Information This presentation contains certain forward-looking information
More informationPress Release. Q2 results ABB Group
Q2 net income doubles to $729 million Continued strong global demand for power and automation technologies Orders up 26%, revenues up 27%, higher in all regions Growth and strong business execution produce
More informationCAPSTONE REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER
CAPSTONE REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER Dated: November 6, 2008 TSX: CS Vancouver, B.C. Capstone Mining Corp. ( Capstone ) announces its financial results for the third quarter of 2008
More informationCORRECTION TO LUCARA HALF YEAR RESULTS
CORRECTION TO LUCARA HALF YEAR RESULTS AUGUST 13, 2014 (LUC TSX, LUC BSE, LUC NASDAQ OMX) Lucara Diamond Corp. ( Lucara or the Company ) reports a correction to the first paragraph of the 2014 second quarter
More informationCenovus focuses on oil investments for 2011 Large reserves additions anticipated for Foster Creek
Cenovus focuses on oil investments for 2011 Large reserves additions anticipated for Foster Creek Calgary, Alberta (December 9, 2010) Cenovus Energy Inc. (TSX, NYSE: CVE) is planning significant investments
More informationNEWS RELEASE. Mountain Province Diamonds Announces June 30, 2018 Quarter End Results and Declares a Dividend of 4 Cents per Share
NEWS RELEASE August 8, 2018 TSX and NASDAQ: MPVD Mountain Province Diamonds Announces June 30, 2018 Quarter End Results and Declares a Dividend of 4 Cents per Share Toronto and New York, August 8, 2018
More informationBRIO GOLD REPORTS THIRD QUARTER 2017 FINANCIAL RESULTS
BRIO GOLD REPORTS THIRD QUARTER 2017 FINANCIAL RESULTS TORONTO, ONTARIO, October 31, 2017 BRIO GOLD INC. (TSX: BRIO) ( BRIO GOLD or the Company ) announces its third quarter 2017 financial and operating
More informationnews release November 9, 2015
news release November 9, Thompson Creek Reports Third Quarter Cash Balance of $217 Million and Non-GAAP Unit Cash Cost on a By-Product Basis of Negative $0.16 per Pound of Copper Produced Denver, CO Thompson
More informationELGIN MINING PROVIDES STRONG FOURTH QUARTER CASH COSTS AND POSITIVE 2014 OUTLOOK
No. 2014-03 ELGIN MINING PROVIDES STRONG FOURTH QUARTER CASH COSTS AND POSITIVE 2014 OUTLOOK Vancouver, British Columbia, March 3, 2014 Elgin Mining Inc. ( Elgin Mining or the Company ) (TSX:ELG and ELG.WT)
More informationFoundation Coal Announces First Quarter 2009 Results
Foundation Coal Announces First Quarter 2009 Results Foundation Remains Positioned To Deliver Record Financial Results in 2009 Q1 Average Realizations Higher In All Regions Compared To Last Year Q1 Results
More informationVictoria Gold Announces Comprehensive C$500 Million Financing Package for Eagle and Continuation of Construction Activities
Victoria Gold Announces Comprehensive C$500 Million Financing Package for Eagle and Continuation of Construction Activities Toronto, ON / March 8, 2018 / Victoria Gold Corp. (TSX.V-VIT) Victoria or the
More informationGates Industrial Reports Record First-Quarter 2018 Results
Gates Industrial Reports Record First-Quarter Results Denver, CO, May 2, First-Quarter Highlights Net sales of $852.0 million, a quarterly record and increase of 16.7% year-over-year Net income attributable
More informationCaledonia Mining Corporation Plc Results for the Fourth Quarter and Year ended December 31, 2017 St Helier, 21 March, 2018:
Caledonia Mining Corporation Plc Results for the Fourth Quarter and Year ended, 2017 St Helier, 21 March, 2018: Caledonia Mining Corporation Plc ( Caledonia or the Company ) announces its operating and
More informationATLATSA ANNOUNCES FINANCIAL RESULTS FOR THE HALF YEAR ENDED JUNE 30, 2017 & PROVIDES AN UPDATE ON THE IMPLEMENTATION OF THE 2017 RESTRUCTURE PLAN
Atlatsa Resources Corporation (Incorporated in British Columbia, Canada) (Registration number 10022-2033) TSX/JSE share code: ATL ISIN: CA0494771029 ( Atlatsa or the Company ) ATLATSA ANNOUNCES FINANCIAL
More informationFortuna reports consolidated financial results for full year 2018 (All amounts expressed in US dollars, unless otherwise stated)
Fortuna reports consolidated financial results for full year 2018 (All amounts expressed in US dollars, unless otherwise stated) Vancouver, March 13, 2019: Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI)
More informationTHOMPSON CREEK METALS COMPANY REPORTS INCREASE IN SECOND QUARTER 2014 OPERATING INCOME OF 233% AND POSITIVE NET CASH FLOW
news release August 5, 2014 NYSE: TC TSX: TCM THOMPSON CREEK METALS COMPANY REPORTS INCREASE IN SECOND QUARTER 2014 OPERATING INCOME OF 233% AND POSITIVE NET CASH FLOW Denver, CO Thompson Creek Metals
More information