Orosur Mining Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2014; Provides Production Guidance for 2014
For the nine months, the company reported sales of $60,061,000 compared to $80,535,000 a year ago. Profit before income tax was $4,710,000 compared to $7,390,000 a year ago. Total income and comprehensive income for the period was $2,486,000 or $0.03 per basic common share compared to $6,995,000 or $0.09 per basic common share a year ago. Net cash generated from operating activities was $15,133,000 compared to $11,702,000 a year ago. Purchase of property, plant and equipment and development costs was $3,621,000 compared to $16,133,000 a year ago. Exploration and evaluation expenditure assets was $4,129,000 compared to $7,079,000 a year ago.
Based on the results achieved year-to-date and the consolidation of the changes introduced positively affecting the remainder of the year, the company maintains its enhanced outlook for fiscal 2014 with a production guidance of 55,000 - 60,000 oz, at a reduced operating cash costs guidance of $800 - $875/oz.