It's Friday and we're going to end the week well It was the conversations I had with a few friends from here and elsewhere that gave me the idea to write this comment.
Following the release of the 2020-Q3 financial statements, some people have experienced disappointment. As a result, several explanations were made and disappointment was replaced by understanding.
As mentioned in the MD&A, the close link between the confinement of plant personnel and a particularly long and abundant rainy season meant that Robex was forced to process lower grade gold-bearing surface ore during 2020-Q3. I believe you all understood, to the effect that nothing was lost and the richer ore is probably already being processed, which should positively turn around the production of 2020-T4 and allow the completion of the year with production similar to last year.
Taking into account that Robex did not make a major investment on the plant in 2020, that the confinement of plant personnel slowed down operations and, in conclusion, an intense and endless rainy season, I consider that in this context, Robex obtained very good production results. Fortunately, the increase in the value of gold will allow us to end 2020 with revenues up 29%.
The end of 2020 will mark the end of Robex’s fourth year of production. It is unequivocal that the end of 2020 will present a flawless roadmap, with revenues steadily increasing for 4 consecutive years.
2017: $ 57,000,000
2018: $ 78,000,000
2019: $ 99,000,000
2020: $ 128,000,000 (2020-Q4 estimate)
By putting into operation the new rejection pipe, the cone crusher, the next improvements made to the plant, the constantly evolving extraction methods, an unlikely containment of the plant employees and consequently, a better preparation for the rainy season means that we can already anticipate an increase in operations and a fifth year of income growth.
So it's no surprise that I look forward to 2021 as the year of dividends, drilling results and opportunities.
GLTA and have a great weekend.