RE:financials are out !!important facts about 2020
-IMPORTANT POINTS FOR 2020 22% INCREASE IN REVENUE
Gold sales of $120.8 million compared to $99.2 million in 2019.
126% INCREASE IN OPERATING INCOME Operating income of $48.5 million compared to $21.4 million in 2019, including respectively $20.9 million and $31.6 million of depreciation and amortisation of tangible assets. -
28% INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES1 Cash flows from operating activities1 of $65.1 million or $0.111 per share2 compared to $51 million or $0.088 per share2 in 2019.
LONGTERM DEBT REPAYMENT OF $6.8 MILLION The Company’s longterm debt has been reduced from $13.3 million as of December 31, 2019 to $6.5 million as of December 31, 2020.
PAYMENT OF 2 EXTRAORDINARY DIVIDENDS TOTALLING $0.06 PER SHARE Payment of a first dividend of $0.02 per share on the April 7, 2020 and a second of $0.04 per share on September 25, 2020, for a total amount of $35.5 million.
SHAREHOLDER EQUITY INCREASED BY $18,2 MILLION The book value of the ordinary shareholder equity was $90.1 million as of December 31, 2020 including $8.2 million of retained earnings. This compares to $72 million as of December 31, 2019 including an accumulated deficit of $0.9 million.
POSITIVE WORKING CAPITAL OF $8.8 MILLION Positive working capital of $8.8 million as of December 31, 2020 compared to a positive working capital of $10.3 million as of December 31, 2019.
SIGNIFICANT INVESTMENTS IN EXPLORATION OF APPROXIMATELY $8.3 MILLION Exploration investments on Nampala’s operating licence of $8 million and on exploration licences of $0.3 million in 2020. RESOURCE INCREASED OF 103% In July, the Group published a NI 43101 technical report increasing its indicated resources by 103% over the 2019 Mineral Resource Estimate (MRE2019). A new MRE in 2021 confirmed this figure, reporting 788,000 ounces of gold and extending the mine life to over 10 years.
Thanks to the exceptional dedication of all ROBEX employees, the Group successfully navigated the difficulties faced in 2020, particularly the COVID19 pandemic and the longer and more extreme wet season in the Sikasso region (which includes the Nampala mine), while achieving a gold production close to our objective. The debottlenecking of the processing plant allowed the Company to increased productivity in 2020. This increased productivity partially made up for the reduction in daily throughput and the lower grades caused by the extra stripping of the new pit and the extension of the initial pit.
2020 Objectives 2020 Achievements
Gold production (ounces) 51,100 50,348
Total cash cost2 (per ounce sold) < $650 $676 Allin sustaining cost2 (per ounce sold)
< $1,000 1,277 $3 Exploration on all permits (Nampala, Mininko and Kamasso)
171,990 drilling meters 125,049 drilling meters
Not too shaby ...earning per share 0.074 2020 vs 0.033 2019
cash on hand 8.9M.... admin expenses up 16.3M 2020 vs 11.8M 2019 (im sure there's a good reason why..)
really impressed , was expecting less ....BRAVO ...GOOD JOB RBX
Now let's get this thing rolling and move up and on ....
regards stud