PREMIER GOLD MINES LIMITED (TSX:PG) (“Premier”, “the Company”) is pleased to announce its operating results for the third quarter ended September 30, 2017.
Note: Unless otherwise stated, all amounts discussed herein are denominated in Canadian dollars.
2017 Third Quarter Consolidated Highlights
- Production of 26,677 ounces of gold and 82,856 ounces of silver
- Gold sales of 37,920 ounces at an average realized price(i) of $1,604 (US$1,282) per ounce
- Co-product cash costs(i) of US$646 per ounce of gold (ii)
- Co-product all-in sustaining costs (“AISC”)(i) of US$782 per ounce of gold
- Net revenue of $62.3 million (US$47.7 million)
- Operating income of $17.0 million (US$13.0 million)
- Net income of $3.9 million (US$3.0 million)
- Quarter end cash balance of $171.8 million (US$137.6 million) plus inventory of 5,933 ounces of gold and 39,659 ounces of silver
- Cash flow from operating activities of $25.6 million (US$19.6 million) or $0.12/share (US$.09/share)
- Free cash flow(i) of $17.1 million (US$13.1 million) or $0.08/share (US$0.06/share) after an investment of $6.9 million (US$5.3 million) in exploration and pre-development programs and $8.4 million (US$6.4 million) in capital expenditures.