Kinross reports strong 2023 second-quarter results
Increased production at Tasiast, Paracatu, and La Coipa drives robust free cash flow
Tasiast 24k construction and initial commissioning complete leading to record quarterly production
TORONTO, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross” or the “Company”) today announced its results for the second-quarter ended June 30, 2023.
This news release contains forward-looking information about expected future events and financial and operating performance of the Company. Please refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page 26 of this release. All dollar amounts are expressed in U.S. dollars, unless otherwise noted.
Q2 2023 highlights from continuing operations:
Production of 555,036 gold equivalent ounces (Au eq. oz.), a 22% year-over-year increase.
Production cost of sales1 of $900 per Au eq. oz. sold and all-in sustaining cost2 of $1,296 per Au eq. oz. sold.
Margins3 of $1,076 per Au eq. oz. sold.
Operating cash flow4 of $528.6 million and adjusted operating cash flow2 of $459.1 million.
Reported net earnings5 of $151.0 million, or $0.12 per share, with adjusted net earnings2, 6 of $167.6 million, or $0.14 per share2.
Cash and cash equivalents of $478.4 million, and total liquidity7 of approximately $1.9 billion at June 30, 2023.
Guidance reaffirmed: Kinross expects to produce 2.1 million Au eq. oz. (+/- 5%) and is on track to meet its 2023 guidance for production cost of sales, all-in sustaining cost and attributable capital expenditures.
Debt refinancing: In July, Kinross issued $500.0 million in Senior Notes to refinance its 2024 Notes, extending the maturity to 2033.
Kinross’ Board of Directors declared a quarterly dividend of $0.03 per common share payable on September 8, 2023 to shareholders of record at the close of business on August 24, 2023.
Kinross published its 2022 Climate Report on July 21, 2023, detailing its Climate Change Strategy and a comprehensive summary of its progress over the past year with a target to be a net-zero greenhouse gas emissions Company by 2050.
Operational
B2Gold Reports Q2 2023 Results; Strong Q2 2023 Operating Results Position B2Gold to Achieve 2023 Annual Guidance; First Half of 2023 Cash Operating Costs and All-In Sustaining Costs Both Below 2023 Guidance Ranges
VANCOUVER, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) announces its operational and financial results for the second quarter of 2023. All dollar figures are in United States dollars unless otherwise indicated.
2023 Second Quarter Highlights
Total gold production of 262,701 ounces in Q2 2023, in-line with expectations for the quarter: Total gold production of 262,701 ounces, including 16,740 ounces of attributable production from Calibre Mining Corp. (“Calibre”). The Fekola Mine produced 152,427 ounces in the quarter, benefitting from a favorable mine phasing sequence in the second quarter, with Phase 6 of the Fekola pit providing high-grade ore to the process plant. All B2Gold operations are on track to meet or exceed annual production guidance ranges.
Total consolidated cash operating costs of $667 per gold ounce sold in Q2 2023, below the annual guidance range: Total consolidated cash operating costs (see “Non-IFRS Measures”) (including estimated attributable results for Calibre) of $667 per gold ounce sold during the quarter. Consolidated cash operating costs from the Company’s three operating mines of $639 per gold ounce sold.
Total consolidated all-in sustaining costs of $1,214 per gold ounce sold in Q2 2023, below the midpoint of the annual guidance range: Total consolidated all-in sustaining costs (see “Non-IFRS Measures”) (including estimated attributable results for Calibre) of $1,214 per gold ounce sold. Consolidated all-in sustaining costs from the Company’s three operating mines of $1,210 per gold ounce sold.
Attributable net income of $0.06 per share; Adjusted attributable net income of $0.07 per share in Q2 2023: Net income attributable to the shareholders of the Company of $80 million ($0.06 per share); adjusted net income (see “Non-IFRS Measures”) attributable to the shareholders of the Company of $86 million ($0.07 per share).
Operating cash flow before working capital adjustments of $199 million in Q2 2023: Cash flow provided by operating activities before working capital adjustments was $199 million in the second quarter of 2023.
Robust financial position: At June 30, 2023, the Company had cash and cash equivalents of $506 million and working capital (defined as current assets less current liabilities) of $570 million.
Q2 2023 dividend of $0.04 per share declared: The Company remains in a strong net positive cash position and paid a second quarter dividend of $0.04 per common share on June 27, 2023 (annualized rate of $0.16 per common share).
https://ceo.ca/@newsfile/...old-reports-second-quarter-2023-financial
Sehr gute Produktionszahlen allerdings immer noch sind die AISC mit über 1500 US Dollar zu hoch. Dementsprechend weiterhin ein kleiner Verlust.
Genauso Eldorado Gold die auch wieder ein Verlust produziert haben. |
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