Post by
thisisriskystuf on May 14, 2020 7:36am
Teranga Gold Reports a 27% Increase in Production to 91,312
FIRST QUARTER 2020 HIGHLIGHTS Three months ended March 31, 2020 compared to three months ended March 31, 2019 • 27% increase in consolidated gold production to 91,312 ounces, driven by a strong first full quarter of operations at Wahgnion. • 46% increase in revenue to $134.1 million. • 41% increase in gross profit to $39.5 million. • Increase in consolidated net profit attributable to shareholders to $16.2 million, or $0.13 per share, compared to a net loss of $2.7 million or $0.03 per share. • Increase in adjusted net profit attributable to shareholders1 to $7.0 million, or $0.06 per share, compared to $2.2 million or $0.02 per share. • 70% and 36% increase in EBITDA1 and adjusted EBITDA1 , respectively. • 9% increase in operating cash flows before changes in working capital, excluding inventories. • Operating cash flows decreased 97% primarily due to swings in inventory stockpile, supplies build-up and settlements of gold advances. • Unsold bullion inventory increased to $38 million (using a period-end spot gold price) as at March 31, 2020, due to coronavirus-related delays in gold shipments in late March.
Comment by
Consvestor on May 14, 2020 8:22am
23,600 oz of gold unsold by quarter end. That’s $40 million added to q2 revenues! Nice!