PREMIER GOLD MINES LIMITED (TSX:PG) (“Premier”, “the Company”) is pleased to announce its operational and financial results for the second quarter ended June 30, 2017. The Company previously released on July 18, 2017 its gold production results of 37,617 ounces for the second quarter. Operating results for the second quarter contributed to an EBITDA of $31.4 million (US$23.5 million) and net income of $14.6 million (US$10.9 million) or $0.07/share (US$0.05/share).
2017 Second Quarter Consolidated Highlights
- Production of 37,617 ounces of gold and 89,474 ounces of silver
- Gold sales of 43,212 ounces at an average realized price(i) of $1,677 (US$1,256) per ounce
- Co-product cash costs(i) of US$481 per ounce of gold
- Co-product all-in sustaining costs (“AISC”)(i) of US$607 per ounce of gold
- Revenue of $74.6 million (US$55.9 million)
- Operating income of $28.7 million (US$21.5 million)
- Net income of $14.6 million (US$10.9 million)
- Quarter end cash balance of $156.8 million (US$120.9 million)
- Cash flow from operating activities of $17.8 million (US$13.4 million) or $0.09/share (US$0.07/share)
- Free cash flow of $10.1 million (US$7.5million) or $0.05/share (US$0.04/share), after investing $10.7 million (US$ 8.0 million) in exploration and pre-development programs and $7.1 million (US$5.5 million) in capital expenditures.