CA - Victoria Gold GAAP EPS of C$0.24 revenue of C$118.8M; reaffirms FY23 outlook

2023-08-10 03:56:24 ET

• Victoria Gold press release ( OTCPK:VITFF ): Q2 GAAP EPS of C$0.24.
• Revenue of C$118.8M (+71.2% Y/Y).
• Mine production was 2.4 million tonnes of ore in the quarter.
• Ore stacked on the heap leach facility in the quarter was 2.5 million tonnes at an average grade of 0.74 grams per tonne.
• Gold production was 45,568 ounces in the quarter.
• Gold sold in the quarter was 44,710 oz, at an average realized price of C$2,660 (US$1,981) per oz.
• Recognized revenue was C$118.8 million based on sales of 44,710 oz of gold in the quarter.
• Operating earnings were C$22.4 million in the quarter.
• All-in sustaining costs were US$1,466 per oz of gold sold in the quarter.
• EBITDA were C$52.3 million in the quarter, or C$0.79 per share in the quarter.
• Adjusted free cash flow was a deficiency of C$13.5 million in the quarter.
• Cash and cash equivalents were C$27.5 million at June 30, 2023.
• 2023 Outlook: 2023 Production Guidance remains intact at the Eagle Gold Mine and is estimated to be between 160,000 and 180,000 ounces of gold.
• Cost Guidance for 2023 remains intact and AISC are expected to be between US$1,350 and US$1,550 per oz of gold sold.

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