ALLXF - Gran Colombia Gold's Q2: Historically First Dividend Announced
On August 13, Gran Colombia Gold (TPRFF) released its Q2 2020 financial results. The quarter was significantly impacted by coronavirus-related production disruptions. However, the Segovia mine is back in production, and at gold prices near $2,000/toz, some very nice cash flows should be generated in Q3. As a result, company management decided to introduce dividend payments.
In Q2, Gran Colombia produced 48,228 toz gold. It represents a 14.3% decline compared to Q1. The decline in production is attributable to the national quarantine in Colombia that impacted especially the Marmato mine (Gran Colombia owns