habe gerade 1000 Stück über Quotrix dazu gekauft. ist meine größte Position im Depot und dieses Jahr wird noch gewaltig was passieren im Kurs. ein 200.000 Unzen Produzent und so günstig. schaut euch eine Teranga Gold an wo die steht. da ist noch sehr viel Platz nach iben für Gran C.
Third Quarter and First Nine Months 2018 Highlights
Total gold production of 57,163 ounces in the third quarter of 2018, up 54% over the third quarter of 2017, brought the total gold production for the first nine months of 2018 to 162,741 ounces, up 33% over the first nine months last year. The Company followed this up with a further 18,065 ounces of gold produced in October 2018. Fueled by continued growth in the Company?s high-grade Segovia Operations, the Company?s trailing 12-months? total gold production increased to 215,509 ounces as of October 2018, up 24% over the total for 2017 of 173,821 ounces. The Company expects that it will produce between 214,000 and 220,000 ounces of gold this year.
Revenue increased 56% in the third quarter of 2018 over the third quarter last year to $66.6 million bringing the first nine months 2018 total revenue to $200.3 million, up 39% over the first nine months last year, of which 35% was driven by the increased level of gold production this year. The average realized gold price in the first nine months of 2018 was $1,253 per ounce, up 3% over the first nine months last year. However, most of this improvement occurred in the first half of 2018 as spot gold prices in the third quarter of 2018 fell about 8% compared to the average for the first half of 2018, reducing the Company?s realized gold price in the third quarter of 2018 to $1,186 per ounce compared with $1,246 per ounce in the third quarter last year.
The Company continued to hold its total cash costs(1) and all-in sustaining costs(?AISC?)(1)in the third quarter and first nine months of 2018 below its guidance range. For the third quarter of 2018, total cash costs and AISC averaged $657 per ounce and $888 per ounce, respectively, bringing the first nine months 2018 averages to $674 per ounce and $899 per ounce, respectively. For 2018, the Company continues to expect that its total cash costs and AISC averages for the full year will remain below $735 per ounce and $950 per ounce, respectively.
The Company reported adjusted EBITDA(1) of $24.7 million for the third quarter of 2018, up from $13.8 million in the third quarter of 2017, bringing the first nine months 2018 adjusted EBITDA to a total of $78.7 million, up 62% over the first nine months last year. The trailing 12-months adjusted EBITDA at the end of September 2018 stood at $105.4 million, up 40% over 2017?s annual adjusted EBITDA of $75.5 million, driven by production growth, better realized gold prices and continued efforts to control operating costs.
The Company successfully transformed its capital structure in 2018, eliminating the convertible debentures which exposed shareholders to further dilution and providing the Company with greater access to its internally generated free cash flow to explore, expand and modernize its mining operations. In the process, the Company strengthened its balance sheet by reducing its debt to equity ratio, improving its working capital, and increasing its cash position, which stood at $29.5 million at September 30, 2018.
Key to the capital structure transformation was the completion of a $98 million Offering of Units at the end of April 2018, comprising 8.25% senior secured gold-linked notes due 2024 (the ?Gold Notes?) and warrants (the ?2024 Warrants?), which facilitated the redemption at par of the remaining 2020 and 2024 Debentures in May 2018 and the return of $9.6 million of cash held in a sinking fund for the debentures. The 2024 Warrants commenced trading on the Toronto Stock Exchange (?TSX?) under the symbol ?GCM.WT.B? in early September 2018 and the Gold Notes commenced trading on the TSX under the symbol ?GCM.NT.U? in early October 2018. As of October 31, 2018, the aggregate principal amount of Gold Notes issued and outstanding had been reduced through quarterly repayments to $88.3 million.
In August 2018, the Company completed the repayment of its 2018 Debentures, exercising its option to repay the remaining $32.1 million aggregate principal amount of the 2018 Debentures outstanding, together with accrued interest, entirely with common shares, increasing the total issued and outstanding common shares of the Company to 48.2 million and recovering $3.5 million of cash held in a sinking fund for these debentures. Including the 2024 Warrants, the Company?s fully diluted common shares would total approximately 60.3 million.
On October 29, 2018, the Company announced that Fitch Ratings has upgraded it to ?B? from ?B-? with a Stable Outlook citing the foregoing capital structure improvements and the enhanced mine plan at its Segovia Operations focused on cost reductions and high grade ore bodies which are driving cash flow generation as the key factors leading to the upgrade.
To facilitate trading of the Company?s common shares in the United States, in early October 2018, the Company upgraded its listing to the OTCQX® Best Market where its common shares now trade under the symbol ?TPRFF?.
The Company reported net income for the third quarter of 2018 of $12.4 million, or $0.31 per share, compared with a net loss of $1.0 million, or $0.05 per share, in the third quarter last year. For the first nine months of 2018, the Company reported a net loss of $13.0 million, or $0.43 per share, compared with net income of $32.0 million or $1.58 per share, in the first nine months last year. The net loss reported for the first nine months of 2018 includes $22.2 million of losses on financial instruments, primarily triggered by the extinguishment of the 2020 and 2024 Debentures in the second quarter, and a $7.6 million charge for the costs associated with the Offering completed in the second quarter of 2018. The net earnings in the first nine months of 2017 included a reversal of impairment of the Segovia Operations in the amount of $45.3 million.
Adjusted net income(1) for the third quarter of 2018 was $9.9 million, or $0.25 per share, up from $3.8 million, or $0.19 per share, in the third quarter last year, bringing the adjusted net income for the first nine months of 2018 to $28.0 million, or $0.93 per share, compared with $13.8 million, or $0.69 per share, in the first nine months last year. The year-over-year improvement in adjusted EBITDA was the primary driver behind the improved adjusted net earnings in 2018.
The Company continues to prioritize its exploration and development activities to identify avenues to expand its reserves and resources, and ultimately to increase production, from its cash-generating, high-grade Segovia Operations. Through the first nine months of 2018, the Company completed 128 holes representing approximately 81% of the 20,000 meters of drilling planned for Segovia this year. On October 3, 2018, the Company announced that it had identified a new structure at its Sandra K mine, interpreted as a splay off the Techo Vein and termed the 6640 Vein, and in-fill drilling at the Providencia mine was successful in outlining a new high-grade zone to the west of and near the high-grade orebody that is currently in production. Overall, results from the 2018 drilling program thus far are continuing to increase confidence in the mineral resources at the three producing mines and initial results from step-out drilling at the Cristales Vein, one of the other 24 known vein systems in the Segovia title which has the potential to become a future mining operation, have been encouraging. Follow-up directional drilling will be getting underway by the end of this year in the deep zones below the currently delineated resource at El Silencio.
On October 4, 2018, the Company announced that the early results from the 2018 drilling campaign, which commenced in June 2018, at the Marmato Project have outlined two new zones of Deeps-style mineralization and continue to increase confidence in the geological model.
On October 9, 2018, the Company announced that drilling carried out by IAMGOLD in 2017 and thus far in 2018 on the Company?s Zancudo Project has identified a new manto structure in the North Zone and a potential ore shoot on both the Manto Antiguo and Manto Inferior structures in the South Zone, all of which merit further evaluation. IAMGOLD has approximately 2,000 meters of drilling to complete for the remainder of this year to confirm the continuity of the new manto structure in the North Zone.
In 2018, the Company has acquired an approximately 17% equity investment in Sandspring Resources Ltd., a Canadian junior mining company currently moving toward a feasibility study for the multi-million-ounce Toroparu Project in the western Guyana gold district. Sandspring concurrently completed the acquisition of a 100% interest in the Chicharron Project located within the Company?s mining title at Segovia.
ist fertig. Bin schon jahrelang in diesem Schrotthaufen investiet, (viel kohle versenkt, dank splits) , langsam kommen wir wieder dahin, wo sie mal war und wieder hingehen wird. Ich weiß nur nicht, ob man sich das so richtig wünschen soll,....?
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