Argonaut Gold News
Argonaut Gold Announces First Quarter 2014 Revenue of $39.1 M and Net Income of $2.8 M
May 6, 2014
15,000 metre Phase I drill program confirms San Agustín Main Zone mineralization;
Phase II expansion drilling has commenced
Toronto, Ontario - (May 6, 2014) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its financial and operating results for the first quarter ended March 31, 2014. All dollar amounts are expressed in United States dollars unless otherwise specified.
| |
1st Quarter
|
Change
|
|
2014
|
2013
|
| Financial Data (in millions except earnings per share) |
| Revenue |
$39.1
|
$43.1
|
↓9%
|
| Gross profit |
$8.0
|
$21.0
|
↓62%
|
| Net income |
$2.8
|
$11.6
|
↓76%
|
| Earnings per share - basic |
$0.02
|
$0.08
|
↓75%
|
| Cash flow from operating activities before changes in non-cash operating working capital and other items |
$12.9
|
$19.4
|
↓34%
|
| Cash and cash equivalents |
$59.7
|
$168.5
|
↓65%
|
| Gold Production and Cost Data |
| GEOs loaded to the pads1 |
52,605
|
42,451
|
↑24%
|
| GEOs projected recoverable ounces1,2 |
29,325
|
25,004
|
↑17%
|
| GEOs produced ounces1 |
30,963
|
29,881
|
↑4%
|
| GEOs ounces sold1 |
30,165
|
26,586
|
↑13%
|
| Average realized sales price per gold ounce |
$1,304
|
$1,622
|
↓20%
|
| Cash cost per gold ounce sold |
$731
|
$594
|
↑23%
|
1 Gold equivalent ounces (“GEOs”) are based on conversion ratio of 55:1 for silver to gold
2 Recoverable ounces – see tables titled First Quarter 2014 El Castillo Operating Statistics and First Quarter 2014 La Colorada Operating Statistics
Comments anyone?
