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AMN - MALI: Robex lifts Nampala gold production 15.3%

Robex Resources Inc produced 11,291 ounces or 351 kilograms of gold from the Nampala project in Mali during the March quarter. This was an increase of 15.3% on the corresponding period of 2018 when 9,793 ounces or 305 kilograms were produced.

The Nampala plant's accessibility averaged 91.6% for the first quarter of 2019, compared to 88.4% for 2018.

Ore mined totalled 498,433 tonnes, up from 491,342, while ore processed was 424,561 tonnes, down from 445,226 tonnes. Waste mined was 817,729 tonnes, which was lower than the 1,047,870 tonnes mined in the corresponding quarter of 2018.

The operational stripping ratio was 1.6 compared to 2.1, the head grade was 0.95 g/t, up from 0.93 g/t and recovery improved to 85.0% from 83.9%.

The Nampala mine reached commercial production on January 1, 201, and the official inauguration took place on March 29, 2019.

Robex sold gold worth C$18.9 million in the quarter compared to C$20.6 million for the same period in 2018.

Work on the elution circuit caused a delay in the casting process of the gold produced. These ounces of gold will figure in the sales of the June quarterly report.

Cash flows from operating activities were C$7.7 million or $0.013 per share, compared to $9.6 million or $0.017 per share for the same period in 2018.

Mining operation expenses were C$7,131,000 compared to C$7,184,000 and mining royalties were $588,000, down from $672,000.

The average realised selling price per ounce was $1,726, up from $1,716 and total cash cost per ounce sold was $706, up from $655. All-in sustaining cost per ounce sold was $1,053 compared to $1,036.         

An increase in administrative costs from C$1,338,000 to $1,774,000 is attributed to the inauguration and the wells being drilled for neighbouring populations.

There was a decrease in the company's liability in the amount of $4 million compared to December 31, 2018.

Exploration investments using the Nampala operating permit amounting to C$900,000 and C$1.6 million in research and exploration using the Mininko and Kamasso permits.

https://robexgold.com/