SEMAFO Inc. Reports Unaudited Consolidated Operating and Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reiterates Production Guidance for the Year 2017
For the six months, the company reported ore mined of 982,600 tonnes against 1,064,800 tonnes a year ago. Ore processed was 1,407,300 tonnes against 1,287,400 tonnes a year ago. Waste mined was 8,586,000 tonnes against 8,269,100 tonnes a year ago. Gold ounces produced was 103,000 against 122,600 a year ago.
For the quarter, the company reported revenue of $59,315,000 against $76,590,000 a year ago. Operating loss was $755,000 against operating income of $14,428,000 a year ago. Net income for the period was $9,348,000 against $7,078,000 a year ago. Net income attributable to equity shareholders was $8,854,000 or $0.03 per share basic and diluted against $5,304,000 or $0.02 per share basic and diluted a year ago. Adjusted operating loss was $2,754,000 against adjusted operating income of $18,911,000 a year ago. Adjusted net loss attributable to equity shareholders was $2,893,000 or $0.01 per share against adjusted net income attributable to equity shareholders of $14,394,000 or $0.05 per share a year ago. Cash flows from operating activities was $23,614,000 or $0.07 per share against $37,390,000 or $0.12 per share a year ago. Income before income taxes was $5,827,000 against $11,225,000 a year ago. Acquisitions of property, plant and equipment were $43,864,000 against $20,397,000 a year ago.
For the six months, the company reported revenue of $126,201,000 against $151,146,000 a year ago. Operating loss was $2,540,000 against operating income of $32,264,000 a year ago. Net income for the period was $6,964,000 against $25,769,000 a year ago. Net income attributable to equity shareholders was $6,163,000 or $0.02 per share basic and diluted against $21,488,000 or $0.07 per share basic and diluted a year ago. Adjusted operating loss was $4,643,000 against adjusted operating income of $38,984,000 a year ago. Adjusted net loss attributable to equity shareholders was $7,267,000 or $0.02 per share against adjusted net income attributable to equity shareholders of $25,355,000 or $0.08 per share a year ago. Cash flows from operating activities was $46,761,000 or $0.14 per share against $72,594,000 or $0.24 per share a year ago. Income before income taxes was $5,283,000 against $34,041,000 a year ago. Acquisitions of property, plant and equipment were $81,096,000 against $39,940,000 a year ago.
For the year 2017, the company reiterates its 2017 outlook of between 190,000 and 205,000 ounces of gold, at a total cash cost of between $685 and $715 per ounce and all-in sustaining cost of between $920 and $960 per ounce.