Orosur Mining Inc. announced earnings and operating results for the first quarter ended August 31, 2017. For the period, the company reported revenue of USD 11,951,000 as compared to USD 12,658,000 a year ago. Net loss after tax was USD 290,000 as compared to net profit after tax of USD 2,759,000 a year ago. Cash flow from operations was USD 1,454,000 as compared to USD 4,795,000 a year ago. The Company increased capital expenditures to USD 2.9 million and exploration spending to USD 1.6 million as compared with USD 1.9 million and USD 0.5 million respectively with the objective to increase production and/or mine life in Uruguay.

For the quarter, the company reported production of Gold of 8,626 ounces as compared to 9,950 ounces a year ago. As a consequence, AISC increased to USD 1,348/oz.

The company provided production guidance for the year 2018. The company expects production guidance at San Gregorio for FY18 remains between 30,000 -35,000 oz of gold at operating cash costs of between USD 800 – USD 900/oz.