SEMAFO Inc. Reports Unaudited Consolidated Operating and Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Reiterates Production Guidance for the Year 2018
For the six months, the company reported ore mined of 1,070,500 tonnes against 982,600 tonnes a year ago. Ore processed was 1,288,500 tonnes against 1,407,300 tonnes a year ago. Waste mined was 10,327,100 tonnes against 8,586,000 tonnes a year ago. Gold ounces produced was 91,200 against 103,000 a year ago.
For the quarter, the company reported revenue of $58,517,000 against $59,315,000 a year ago. Operating loss was $7,558,000 against $755,000 a year ago. Net loss for the period was $11,113,000 against net income of $9,348,000 a year ago. Net loss attributable to equity shareholders was $10,431,000 or $0.03 per share basic and diluted against income of $8,854,000 or $0.03 per share basic and diluted a year ago. Adjusted operating loss was $7,696,000 against $2,754,000 a year ago. Adjusted net loss attributable to equity shareholders was $6,317,000 or $0.02 per share against $2,893,000 or $0.01 per share a year ago. Net cash provided by operating activities was $20,878,000 against $20,772,000 a year ago. Loss before income taxes was $8,525,000 against income before income taxes of $5,827,000 a year ago. Acquisitions of property, plant and equipment were $48,700,000 against $43,864,000 a year ago.
For the six months, the company reported revenue of $121,215,000 against $126,201,000 a year ago. Operating loss was $15,623,000 against $2,540,000 a year ago. Net loss for the period was $16,013,000 against net income of $6,964,000 a year ago. Net loss attributable to equity shareholders was $15,141,000 or $0.02 per share basic and diluted against net income attributable to equity shareholders of $6,163,000 or $0.07 per share basic and diluted a year ago. Adjusted operating loss was $15,664,000 against $4,643,000 a year ago. Adjusted net loss attributable to equity shareholders was $12,865,000 or $0.04 per share against $7,267,000 or $0.02 per share a year ago. Net cash provided by operating activities was $23,633,000 against $38,167,000 a year ago. Loss before income taxes was $15,834,000 against income before income taxes of $5,283,000 a year ago. Acquisitions of property, plant and equipment were $109,856,000 against $81,096,000 a year ago.
For the year 2018, the company reiterates its 2018 consolidated production outlook of between 235,000 and 265,000 ounces of gold at an all-in sustaining cost of between $900 and $940 per ounce.