RE:$0 EarningsClearly you don't have a clue what you are talking about. We are lucky no low ball offer came in.IMO
Here is for the IDIOTS
• Consolidated profit attributable to shareholders of $4.0 million ($0.01 per share) in first quarter.
Pro Forma Cash & Equivalents2 US$54M
Project Financing Outstanding4 US$25M
Mining Fleet Loan Facility4 US$14M
MARCH QUARTER REPORT Toronto, Canada: April 30, 2014
For a full explanation of Financial, Operating, Exploration and Development results please see the
Interim Condensed Consolidated Financial Statements as at and for the period ended March 31, 2014
and the associated Management’s Discussion & Analysis at www.terangagold.com.
• First quarter operating results put Company on track to meet its full year guidance of 220,000 to 240,000 gold
ounces1
at total cash costs of $650 to $700 per ounce2
and all-in sustaining costs of $800 to $875 per ounce2
.
• Gold production for the three months ended March 31, 2014 totaled 52,090 ounces of gold.
• Total cash costs were $696 per ounce sold2
and all-in sustaining costs were $813 per ounce sold2
, for the three
months ended March 31, 2014.
• Consolidated profit attributable to shareholders of $4.0 million ($0.01 per share) in first quarter.
• During the first quarter, the Company acquired the balance of the neighboring property – Oromin Joint Venture
Group (OJVG) that it did not already own by way of $135 million stream transaction with Franco-Nevada to complete
the acquisition and to retire $30 million of $60 million bank debt facility.
• Development of the Masato deposit, the first of the OJVG deposits to be mined, has already begun and is ahead of
schedule. These ounces will contribute to a stronger second half of 2014 as per the mine plan.
• Subsequent to the quarter end, the Company announced an agreement with a syndicate of underwriters to
purchase 36,000,000 common shares, on a bought deal basis, at a price of C$0.83 per share for gross proceeds of
approximately C$30.0 million.
• Cash balance at March 31, 2014 was $28.7 million, including restricted cash. With the expected net proceeds from
the bought deal, on a pro forma basis, the Company’s cash balance at March 31, 2014 would be approximately $54
million.