AMN - MALI: Robex lifts gold production by 22%

Robex Resources increased gold production by 22% in 2018 at the Nampala Gold Project in Mali. There were 44,946 ounces produced, up from 36,997 ounces in 2017.

Ore mined amounted to 1,797,809 tonnes, up from 1,451,497 tonnes in 2017 and the company processed 1,795,591 tonnes, up from 1,615,966 tonnes.

Gold sales revenue in 2018 was C$78.4 million, 37% higher than sales of C$57.2 million for the same period of 2017. There were 47,142 ounces sold in 2018, up from 34,801 in the previous year.

Cash flows from operating activities in 2018 were up by 16% to C$26.9 million or C$0.046 per share compared to C$23.2 million or C$0.040 per share in 2017.

Cash flows from operating activities in 2018 were C$26.9 million or C$0.046 per share compared to C$23.2 million or C$0.040 per share in 2017.

The company's liabilities decreased by C$3.4 million during the 12 months while there was an increase in value to the shareholders (book value) of C$12.5 million compared to December 31, 2017.

Negative working capital of C$3.9 million to December 31, 2018, compared to negative working capital of C$35.1 million to December 31, 2017

Exploration investments on Nampala’s operating permit during 2018 amounted to C$4.5 million.

In line with the increase in ore mined, waste mined was up to 2,951,212 tonnes from 2,184,546 tonnes in the previous year. The operational strip ratio in 2018 was 1.6 compared to 1.5 in 2017.

Head grade improved to 0.94 g/t from 0.85 g/t while recovery also improved to 85.6% from 83.9%.

https://robexgold.com