scotti321 schrieb am 20.08.2018, 08:13 Uhr[/url]"]
Red Eagle has cash of $239,000 (U.S.) at Q2 end
2018-08-17 17:39 ET - News Release
Mr. Patrick Balit reports
RED EAGLE MINING REPORTS Q2 2018 FINANCIAL RESULTS
Red Eagle Mining Corp. has released financial results for the three months ended June 30, 2018, and has provided an update on operations at the Santa Rosa gold project, Antioquia, Colombia.
KEY PRODUCTION METRICS
Total Q1 2018 Q2 2018
Ore mined (tonnes) 48,616 63,224
Ore processed (tonnes) 60,695 62,893
Processed gold grade (g/t Au) 3.2 3.0
Gold produced (ounces) 5,727 5,579
Recovery (%) 93% 92%
Average per day
Ore mined (tonnes) 540 694
Ore processed (tonnes) 682 691
During second quarter 2018, underground development at the mine continued to advance according to plan with 947 metres completed. Development during second quarter 2018 was primarily focused on secondary access ramps and advancing attack ramps on levels 125, 150 and 175 metres, measured from surface. The mine currently has 28 active attack ramps with 21 in production and the remaining attack ramps in breasting and backfill.
Stope mining operations continued to ramp up with an average of 778 tonnes per day mined in May, and the mine reached approximately 900 tonnes per day in June before the mine contractor scaled back operations due to financial constraints. Prior to the mine contractor scaling back, operations were continuing to improve with June production grading 3.6 grams per tonne gold with recoveries of 95 per cent.
The mine contractor has recently temporarily suspended operations, awaiting an expected comprehensive restructuring to improve Red Eagle Mining's financial position and allow production to resume in the near term. Red Eagle Mining is planning on announcing the restructuring as soon as possible.
The increased number of attack ramps will allow mining rates to continue to increase to 1,000 tonnes per day once production resumes. Red Eagle Mining expects to be in steady-state production by the fourth quarter and forecasts production of 3,500 to 4,000 ounces of gold per month at an average grade of approximately four grams per tonne gold.
Selected financial data
The attached selected financial data are derived from Red Eagle Mining's unaudited interim condensed consolidated financial statements for the three months ended June 30, 2018, as prepared in accordance with international financial reporting standards (all amounts in thousands of U.S. dollars, except per-share amounts).
SELECTED FINANCIAL DATA
For the three months ended
June 30, 2018 June 30, 2017
Net loss $72,915 $4,339
Comprehensive loss 72,714 3,307
Basic and diluted loss per share 0.17 0.02
As at
June 30, 2018 Dec. 31, 2017
Cash and cash equivalents $239 $1,776
Total assets 115,215 165,321
Total liabilities 114,219 89,595
Shareholders' equity 996 75,726
For the three months ended June 30, 2018, Red Eagle Mining reported a net loss of $72.9-million (2017: $4.3-million). The net loss increased compared with the 2017 period primarily due to recording a non-cash impairment charge of $69.2-million to recognize property, plant and equipment of the San Ramon gold mine and mill at its estimated recoverable amount. Total assets decreased due to the non-cash impairment charge. The increase in total liabilities relates to the ramp-up of the San Ramon gold mine.
This press release should be read in conjunction with the unaudited interim condensed consolidated financial statements and management's discussion and analysis for the three months ended June 30, 2018. These documents can be found on Red Eagle Mining's website or profile at SEDAR.
The technical information contained in this news release has been reviewed and approved by Gary Hannan, CEng, general manager of Red Eagle Mining's Santa Rosa gold project, who is a qualified person as defined under National Instrument 43-101.
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Kostolanys Erbe schrieb am 17.08.2018, 22:17 Uhr[/url]"]Heute R mit sell-off (Volumen), anscheinend haben einige alles rausgehauen und das Handtuch geschmissen.... Tief heute war 0,09 CAN$
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