This estimate of financial results has been prepared according to the following assumptions:
An increase in the gold content linked to a better selectivity of the ore to be treated / sterile;
A recovery rate identical to that indicated for 2021-Q2;
A quantity of tonne of ore processed identical to that indicated for 2021-Q2;
Stable performance of the use of the cone crusher and the new tailings lines;
A value obtained for the ounces of gold sold up $ 34, to $ 2,253 CAD;
A one-time increase in administrative costs linked to annual bonus payments;
Lower mining costs linked to the decrease in the stripping ratio.
For 2021-Q3, I estimate 12,236 ounces will be produced and sold, which will generate EBITDA up 14.5% to just over CAD $ 15,000,000. Since the low reached in 2020-Q4, this will be the third quarter in progress and I believe that this trend will continue more significantly in the last quarter of the year, which began on October 1.
Finally, I would like to inform you that this assessment is particularly conservative. Considering the annual target of 51,000 ounces of gold stated in the latest MD&A, Robex will have to produce 29,234 ounces in the second half of the year. If my estimate of 12,236 ounces of gold were to prove true in 2021-Q3, Robex would have to produce 16,998 ounces of gold in 2021-Q4. Therefore, it is likely that my estimate for 2021-Q3 is too conservative but one thing is certain, the second half of 2021 should produce results similar to the record achieved in the period 2019-Q3 to 2020-Q1.