SEMAFO Reports Adjusted Loss For Second Quarter
SEMAFO Inc.(TSX, OMX: SMF) reports an adjusted net loss in the second quarter of $6.3million, or 2 cents per share, compared to adjusted net loss of $2.9 million,or a penny, for the same period in 2017.Goldproduction of 45,700 ounces dipped from 47,600 ounces a year ago. The number oftonnes processed decreased by 6% due to the hardness of the ore, SEMAFO says,thus the amount of gold produced also fell. Higher mining operation expenseswere blamed on the higher operational stripping ratio and the hardness of theore. All-in sustaining costs edged up to $1,103 per ounce sold from $1,074 forthe same period in 2017. SEMAFO reiterates its 2018 consolidated productionoutlook of between 235,000 and 265,000 ounces of gold at AISC of between $900and $940 per ounce.
By Allen Sykoraof Kitco News; asykora@kitco.com
PremierReverses To 2Q Loss As Output Falls
Wednesday August 8, 2018 08:18
Premier GoldMines (TSX: PG) reports a loss of $7.7 million, or 4 cents per share, for thesecond quarter as production fell from a year ago. This compares to a profit of$12.5 million, or 6 cents, in the same quarter of 2017. The company reports$27.5 million in revenue, down from $55.5 million a year ago. The reduction ismainly the result of lower production from South Arturo (a joint ventureoperated by Barrick Gold Corp.), where mining of the phase 2 pit was completedin 2017 and there is requirement to redesign stopes in new mining zonesfollowing changes in geologic interpretations at Mercedes. “This redesign atMercedes resulted in a development intensive first half of the year, withincreased costs per ounce,” Premier says. “Production at Mercedes will beweighted toward the second half of 2018 following the completion of stopedesigns in the new Diluvio, Lupita and Rey de Oro deposits.” Premier listsoutput of 16,007 gold ounces and 51,746 silver ounces during the April-Juneperiod, down from 37,617 gold ounces and 97,007 silver ounces a year ago.All-in sustaining costs were $1,088 per ounce of gold sold. Last month, thecompany revised full-year consolidated gold production guidance from a range of85,000 to 95,000 to a higher range of 90,000 to 100,000 ounces.
By Allen SykoraFor Kitco News
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