Orosur Mining Inc. Announces Operating Results for its Fourth Quarter and for the Fiscal Year Ending May 31, 2015; Provides Operating Guidance for the Full Year of 2016
Jun 15 15
Orosur Mining Inc. announced operating results for its fourth quarter and for the fiscal year ending May 31, 2015. For the quarter, the company reported production of 13,187 oz and operating cash costs of $848/oz.
For the full year, the company’s production was 53,485 oz in line with guidance of 50,000 - 55,000 oz.
The company provided operating guidance for the full year of 2016. For the period, the company provided guidance of 50,000 to 55,000 oz production and $850 –$950/oz operating cash cost.
Orosur Mining Inc. Announces A Revised Resource Estimate Incorporating Drilling on Western Extension of the San Gregorio Deeps Project
May 13 15
Orosur Mining Inc. announced a revised resource estimate incorporating drilling completed by Orosur on the western extension of the San Gregorio Deeps project. Approximately 3,000 meters of drilling was completed to further evaluate the extensions of the gold resources at San Gregorio during Third Quarter 2015. Based on the results of this drilling, the 2011 geological model and resource estimate were updated with the assistance of Mine Development Associates of Reno, Nevada. For an open pit scenario, using a cut-off grade of 0.70 g/t gold, there is an indicated resource of 3,341,000 tonnes at 1.58 g/t Au for 170,000 oz of contained gold. For an underground scenario, at a cut-off grade of 1.60 g/t Au there is an indicated resource of 1,034,000 tonnes at 2.80 g/t Au for 93,000 oz of contained gold.
Orosur Mining Inc. Reports Operating Results for the Third Quarter Ended February 28, 2015; Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2015; Provides Production Guidance for the Fiscal 2015; Reports Impairment of Assets for the Third Quarter Ended February 28, 2015
Apr 14 15
Orosur Mining Inc. reported operating results for the third quarter ended February 28, 2015. For the quarter, the company gold production was 13,760 oz compared to 13,218 oz a year ago.
The company reported consolidated earnings results for the third quarter and nine months ended February 28, 2015. For the quarter, the company reported sales of $16,445,000 against $16,741,000 a year ago. Loss before income tax was $1,608,000 compared to profit before income tax of $84,000 a year ago. Total loss for the period was $1,884,000 compared to $15,000 a year ago. Total comprehensive loss for the period was $2,235,000 compared to $15,000 a year ago. Basic and fully diluted loss per common share was $0.02. The company invested $2.4 million in capital expenditures and $1.5 million in exploration expenditures in the quarter compared to $1.8 million and $1.1 million respectively a year ago. Cash flow from operations was $3.0 million compared to $3.5 million a year ago.
For the nine months, the company reported sales of $50,375,000 against $60,061,000 a year ago. Loss before income tax was $4,721,000 compared to profit before income tax of $4,710,000 a year ago. Total loss for the period was $4,408,000 compared to total income for the period of $2,486,000 a year ago. Total comprehensive loss for the period was $5,279,000 compared to total comprehensive profit for the period of $2,486,000 a year ago. Basic and fully diluted loss per common share was $0.06 compared to basic and fully diluted income per common share of $0.013 a year ago. Net cash generated from operating activities was $7,941,000 against $15,133,000 a year ago. Purchase of property, plant and equipment and development costs was $6,759,000 compared to $3,621,000 a year ago. Cash net of debt was $2,500,000 as on February 28, 2015.
The company maintains its forecast production guidance for fiscal year 2015 between 50,000 to 55,000 ounces of gold at operating cash costs of between $850 to $950 per ounce.
For the third quarter ended February 28, 2015, the company reported impairment of assets was $63,000.