(Kitco News) - On Tuesday, Robex Resources (TSXV: RBX) reported that the company produced 12,185 ounces of gold in Q2 2022, a 9.5% increase compared to the same quarter last year (11,124 ounces).
The company said that operational improvements completed by its teams have allowed it to continue to optimize the Nampala plant’s processing capacity, adding that installation of the new trommel at the beginning of June made it possible to increase production by improving plant availability.
Robex noted that in line with the new mine plan, the operational stripping ratio has slightly decreased (4.1 compared to 4.8 for the same period in 2021), prompting a 1.3% decrease in the all-in sustaining cost (per ounce sold), going from $1,560 to $1,540.
According to a press-release, a higher grade (0.84 g/t compared to 0.82 g/t for the same period in 2021) and a slight increase in the average gold selling price (C$2,400 per ounce compared to C$2,219 for the same period in 2021) resulted in a 17% increase in the operating income, which amounted to C$11.5 million in Q2 2022 (Q2 2021: C$9.8 million).
The company also reported net income attributable to equity shareholders of C$7.8 million (Q2 2021: net income of C$9.4 million) while adjusted net income was C$7.7 million (Q2 2021: C$9.3 million).
President Georges Cohen stated, “Despite the uncertain environment and the inflationary pressures, the operational performance of Nampala is improving and our costs are under control. We are still integrating the Sycamore team and we have strengthened our teams in Guinea and Quebec. We hope to close the transaction we announced during this quarter, in September. This closing will be the next stage to pivot our Group toward a growth strategy in Mali and in Guinea.”
Robex Resources 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. Robex is now striving to grow in West Africa by acquiring and/or developing new mines.
