RE:Orosur Full Year & Q4 Operational UpdateOrosur Mining Inc: RESULTS FOR THE 12 MONTH PERIOD ENDED 31 MAY 2015
Highlights
Gold production of 53,485 oz in line with guidance of 50,000 – 55,000 oz (FY14: 60,271).
Cash operating costs US$912/oz (FY14: US$792/oz) in line with guidance of $850 – $950/oz. H2 cash operating costs of US$864/oz.
All-In-Sustaining Costs (“AISC”) of US$1,185/oz (FY14: US$1,049/oz).
Average gold price received of US$1,232/oz (FY14: US$1,298/oz).
Cash Flow from operations before working capital investment was US$10.6M (FY14: US$23.9M).
Total debt was reduced to US$1.5M from US$5.0M. Cash balance at the end of the year was US$4.8M (FY14: US$10.8M). The Company has US$3.0M of undrawn lines of credit committed by Banco Santander available at May 31, 2015 and as of the date hereof.
Corporate and administrative expenses reduced by 17% to US$2.9M (FY14: US$3.5M, FY13: US$5.3M) giving Orosur a 45% reduction in corporate costs over the past two years.