Post by
silverT on Nov 03, 2017 7:52am
I'm comparing Banro with Asanko
Don't see much diff in operation but much diff in SP..............why ? American:AKG) (NYSE MKT:AKG) reports its third quarter ("Q3") 2017 operating and financial results. The Company released its production and revenue results for Q3 2017 on October 19, 2017. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below. Q3 2017 Highlights: No lost time injuries during the quarter, maintaining industry leading safety statistic lost time injury frequency rate ("LTIFR") of 0.19 per million man hours worked Gold sales of 50,241 ounces at an average realized gold price of $1,265 per ounce generating revenue of $63.7 million Quarterly gold production of 49,293 ounces, an increase of 7% over the previous quarter AISC3 increased to $975/oz (Q2 2017: $930/oz) quarter on quarter, primarily due to higher capitalized pre-stripping cost associated with the progression of Cut 2 in the Nkran pit Reduction in operating cash costs2 to $485/oz (Q2 2017: $572/oz) and total cash costs2 to $549/oz (Q2 2017: $634/oz) Cash provided by operating activities of $40.7 million ($31.7 million before working capital changes), an increase of 21% or $7 million compared to Q2 2017 Earned net income of $4.7 million ($0.02/share), a $4.0 million increase relative to Q2 2017 Cash and immediately convertible working capital of $64.3 million, as at September 30, 2017 On track to meet revised 2017 guidance of 205,000-225,000 ounces at AISC3 of US$920-960 per ounce Commenting on the Company's quarterly performance, Peter Breese, President and CEO, said "The improved operational performance for the quarter was the result of the new mining systems we recently introduced to improve the ore loss and dilution metrics, as well as mining through multiple zones of mineralization within the Nkran pit. These encouraging operational results translated into an improved financial performance for the quarter, continuing our track record of generating positive cash flows. Compared to Q2 2017, cash flow from the operations before working capital increased by 19%, earned net income increased by $4.0 million or $0.02 per share and our cash and immediately convertible working capital balance increased by some 9% to $64.3 million."