(Kitco News) - Robex Resources (TSXV: RBX) reported today that the company produced 12,089 ounces of gold in Q1 2022, a 14% increase compared to the same quarter last year.
Robex said that operational improvements completed by its teams have allowed the company to continue to optimize the Nampala plant's processing capacity.
"The replacement of the cyclone pumps, completed last December, met expectations with a performance superior throughput. A water drilling program was started in early 2022 to support the increase of the plant's capacity," the company said in a press-release.
Importantly, Robex noted that a higher grade (0.82 g/t compared to 0.76 g/t for the same period in 2021) and an increase in the average gold price resulted in a 53% increase in the operating income (Q1 2022: C$15.4 million) and a 43% increase in cash flows from operating activities (Q1 2022: C$16.5 million).
The company also reported that net income attributable to equity shareholders was C$12.5 million in Q1 2022, a 29% increase over Q1 2021 (C$9.7 million).
Robex said that while improving its cash flow, the company continues debt reduction with a net cash position of C$3.1 million on March 31, 2022, compared to C$9.3 million on December 31, 2021.
Importantly, the company added it continues its work to complete the pre-feasibility study for the Kiniero project in Guinea.
President Georges Cohen commented, "A quarter with strong improvements across all metrics. I am thrilled to finally see the benefits of the investments and the teamwork done in 2021. Our financial balance sheet has been strengthened and allows us to consider our new growth phase from a strong position, with the exploration of our properties and our new development project in Guinea."
Robex is a Canadian mining company based in West Africa. The company operates the Nampala mine in Mali, which has reached commercial production on January 1, 2017.
|
| Equinox Gold receives regulatory approval for tailings dam lift at its RDM mine in Brazil |
