Resumen: Rio Alto anunció que su ingreso neto fue de $33.2 millones, o $0.19 por acción durante los primeros tres meses de su producción.La producción fue de 58,918 onzas, a un precio de $428 cada una. Después de impuestos se vendió a $909 la onza. Para finales del 2012 se espera una producción de 150,000 - 160,000 onzas.
Rio Alto Reports Earnings of $0.19 Per Share for Q1 2012
VANCOUVER, BRITISH COLUMBIA, May 14, 2012 (MARKETWIRE via COMTEX) -- Rio Alto Mining Limited ("Rio Alto") is pleased to announce that its net income was $33.2 million or $0.19 per share for its first three months of commercial production.
Financial Highlights for the three months ended March 31, 2012 were:
-- Cash generated from operations amounted to $54.6 million.
-- Net cash flow for the period was $44.9 million.
-- Revenue was $94.6 million.
-- Cash cost was $428 per ounce of gold sold during the quarter.
The mine site cash cost for the 58,918 ounces of gold sold was $428 per ounce. Total, after tax and overhead, cash cost per ounce of gold sold was $909 per ounce. The determination of mine site cash and total cost per ounce is illustrated in the table below:
(000's of dollars, except ounces and per gold ounce amounts)
($ 000's) $ per oz(1)
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Production costs $ 19,923
Silver by-product revenue (78)
Lima office costs 901
Workers' profit share 4,449
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Mine site costs 25,195 $ 428
Vancouver office 834 14
Income tax 15,446 266
Peru Government Royalty 5,250 89
Special mining tax 6,811 116
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Total cash costs $ 53,536 $ 909
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Ounces of gold sold 58,918
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(1) The Company has included non-IFRS performance measures - mine site and
total cash costs per gold ounce sold - within this announcement. In
addition to conventional measures, the Company uses these performance
measures to monitor its operating cash costs and believes they provide
investors and analysts with useful information about the Company's
underlying cost structure. These measures are intended to provide
additional information and should not be considered in isolation or as
a substitute for measures of performance prepared in accordance with
IFRS. The Company reports cash costs per ounce on a sales basis. In the
gold mining industry, this is a common performance measure but does not
have any standardized meaning.
At this time management expects that the La Arena Gold Mine will produce 150,000 to 160,000 ounces of gold for the year ended December 31, 2012. Production guidance will be updated after the second quarter of commercial production.
With a proven technical team, strong operating and financial performance and high quality development and exploration projects, Rio Alto is positioned to grow into an intermediate gold producer from existing projects. Based on current plans and assumptions the Company projects gold oxide production of over 200,000 ounces per year by 2014. All planned development, exploration and capital expenditures for 2012 will be completed without external funding and the Company should end the year in a stronger financial position. Rio Alto plans to pursue accretive acquisitions and carry out our planned exploration programs.
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