SEMAFO Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2018; Provides Production Guidance for the Year 2018
The company reported net cash provided by operating activities of $2.8 million compared to $17.4 million for the same period in 2017. Net loss attributable to equity shareholders of $4.7 million or $0.01 per diluted share compared to $2.7 million or $0.01 per diluted share for the same period in 2017. The company reported revenues of $62.7 million compared to $66.9 million for the last year. Operating loss $8.1 million compared to $1.8 million a year ago. Adjusted operating loss was $8.0 million compared to $1.9 million a year ago. Adjusted net loss attributable to equity shareholders was $6.5 million or $0.02 per share compared to $4.4 million or $0.01 per share a year ago. Loss before income taxes was $7.3 million compared to $0.5 million for the last year. Acquisition of property, plant and equipment was $61.2 million compared to $37.2 million for the last year. It reported cash flows from operating activities of $18.4 million or $0.06 per share compared to $23.1 million or $0.07 per share for the same period in 2017.
The company expects to attain its 2018 production outlook of between 235,000 and 265,000 ounces of gold, and to meet its all-in sustaining cost outlook of between $900 and $940 per ounce.