Awesome Q4 results - production exceeds expectationEBIDTA of $2.2M
Full year and Q4 gold production that exceeded expectations and guidance: For the year ended August 31, 2022, Buckreef Gold poured 8,874 ounces of gold and sold 8,598 ounces of gold. The Company recognized revenue of $15.1 million, cost of sales of $5.7 million and cash costs1 of $665 per ounce of gold, generating a strong full year gross profit of $9.4 million, gross profit margin of 62% and Adjusted EBITDA1 of $3.5 million. For Q4 2022, Buckreef Gold poured 3,619 ounces of gold, a new quarterly production record, exceeding previous production guidance of 750-800 ounces of gold per month. Furthermore, 3,363 ounces of gold were sold, also a new quarterly sales record for the Company, resulting in positive operating cash flow of $2.4 million. Buckreef recognized revenue of $6.0 million in Q4 2022, cost of sales of $1.9 million, and cash costs1 of $560 per ounce of gold, below guidance, generating strong Q4 gross profit of $4.1 million, gross profit margin of 69% and Adjusted EBITDA1 of $2.2 million.
I'm adding more because this is too cheap. Gold hit USD1800 today