GREY:CLGRF - Post by User
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vilaon Mar 28, 2013 8:19am
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news Claude Resources Inc. Reports 2012 Net Profit of $5.6 Million
Trading Symbols TSX - CRJ NYSE MKT - CGR
SASKATOON, March 28, 2013/PRNewswire/ - Claude Resources Inc. ("Claude" and or the "Company") today reported its 2012 operating and financial results. All dollar amounts are in Canadian dollars unless stated otherwise.
2012 Highlights:
- Net profit of $5.6 million, or $0.03per share, after a $3.0 million, or $0.02per share, non-cash deferred income tax expense.
- Cash flow from operations before net changes in non-cash operating working capital (1) of $25.8 million, or $0.15per share.
- Cash cost per ounce of gold (2) were $997(U.S. $998).
- Generated $80.8 millionin revenue from gold sales of 48,672 ounces at an average price of $1,660(U.S. $1,661).
- Achieved record mill throughput of 275,235 tonnes at 5.86 grams per tonne in 2012, resulting in gold production of 49,570 ounces.
- Mineral Reserves (3) grade increased by 14 percent while total ounces decreased by 13 percent or 44,500 ounces after mining 49,570 ounces. The Measured and Indicated Resources(3) grade and ounces increased significantly to 7.82 grams per tonne from 5.35 grams per tonne and to 344,200 ounces from 70,700 ounces of gold, respectively.
- The Seabee Mine shaft extension project was completed in January of 2013. The reduction of trucking distance and ore handling is anticipated to result in lower diesel consumption, reduced maintenance costs and improved ventilation. Overall, Seabee Deep and L62 mining costs are expected to be reduced as a result of the shaft extension.
- Completed the St. Eugene Mining acquisition resulting in 100 percent ownership of the Amisk Gold Project.
- Expanded debt facilities with Canadian Western Bank and signed a non-binding agreement with Crown Capital Partners for a debt facility of $25 millionthat is expected to close early in the second quarter.
- Surpassed one million ounces of total production at the Seabee Gold Operation