Steppe Gold Announces Q1 2024 Financial Results
Steppe Gold Announces Q1 2024 Financial Results
Ulaanbaatar, Mongolia--(Newsfile Corp. - May 15, 2024) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce its financial results for the quarter ended March 31, 2024.
蒙古烏蘭巴托--(Newsfile Corp.-2024 年 5 月 15 日)- Steppe Gold Ltd.(多倫多證券交易所股票代碼:STGO) (OTCQX: STPGF) (FSE: 2J9) (”草原金“或者”公司“)很高興地宣佈其截至2024年3月31日的季度財務業績。
HIGHLIGHTS
亮點
First Quarter Highlights
第一季度亮點
(all figures in US$000's unless stated otherwise, except per unit figures which are in US$)
(除非另有說明,否則所有數字均以000美元爲單位,以美元爲單位的數字除外)
Revenue for the three months ended March 31, 2024 amounted to $7,971 on sales of 3,723 gold ounces and 19,506 silver ounces, respectively.
Average realized prices for the three months ended March 31, 2024 were $2,043 per gold ounce and $19 per silver ounce, respectively.
Operating profit from mine operations before depreciation and depletion for the three months ended March 31, 2024 was $4,324.
Adjusted EBITDA after payments made pursuant to the metals purchase and sale agreement (the "Stream Agreement") with Triple Flag Finance Bermuda Ltd. for the three months ended March 31, 2024 was negative $309.
Site All in Sustaining Cost ("AISC") was $945 per ounce sold for the quarter ended March 31, 2024. AISC was $1,522 per ounce sold for the three months ended March 31, 2024.
During the three months ended March 31, 2024, 133,090 tonnes of ore were mined and 145,479 tonnes of ore were stacked on the leach pad, with an average gold grade of 0.56 g/t.
As at March 31, 2024, the cash balance was $6,740 (including $87 recorded in assets classified as held for sale); total bank debt, payables and other debts (including liabilities of $81 recorded in assets classified as held for sale, excluding convertible debentures, Stream Agreement, lease liabilities, tax payables and asset retirement obligations) was $70,216 with net debt of $63,476.
On January 9, 2024, the Company announced that it had entered into a turnkey engineering, procurement and construction contract with Hexagon Build Engineering LLC for the Phase 2 Expansion.
The Phase 2 Expansion is proceeding according to the projected timelines and budgets, with commissioning planned for the first quarter of 2026.
On March 15, 2024, the Company entered into an amended and restated gold prepay agreement ("A&R Prepay Agreement") for an additional advance of $5,000 with a repayment term over five months, commencing on August 15, 2024, in five equal monthly deliveries of 530 ounces of gold for a total of 2,650 ounces delivered to Triple Flag International Ltd.
On March 26, 2024, a milestone payment of $37,000 was made to the EPC contractor in relation to the Phase 2 Expansion (as defined below) to fund procurement of major long lead items, mobilization costs, early construction works and foundational work. The major long lead items include the flotations cells, grinding mills, cluster cyclones, thickener units, filters and pumping systems.
On April 11, 2024, the Company announced that it had entered into a share exchange (the "Share Exchange Agreement") agreement pursuant to which it will acquire all of the issued and outstanding common shares of Boroo Gold LLC from an indirect, wholly owned subsidiary of Boroo Pte Ltd. ("Boroo Singapore") in an all-share transaction (the "Boroo Gold Transaction").
Additionally, on April 11, 2024, the Company announced that it had entered into separate definitive share purchase agreements (the "Share Purchase Agreements"), pursuant to which the Company will sell the Tres Cruces Oxide Project to Boroo Singapore for approximately CAD$12 million in cash (the "Tres Cruces Transaction", and, together with the Boroo Gold Transaction, the "Proposed Transaction"), payable over the next 18 months beginning as of the Closing Date (as defined in the Share Purchase Agreements).
截至2024年3月31日的三個月,收入爲7,971美元,銷售額分別爲3,723盎司金和19,506盎司白銀。
截至2024年3月31日的三個月,平均已實現價格分別爲每盎司黃金2,043美元和每盎司白銀19美元。
截至2024年3月31日的三個月,礦山業務折舊和耗盡前的營業利潤爲4,324美元。
根據金屬買賣協議付款後的調整後息稅折舊攤銷前利潤(”直播協議“)截至2024年3月31日的三個月,三旗金融百慕大有限公司爲負309美元。
Site All in 維持成本 (”AISC“)截至2024年3月31日的季度每盎司售出945美元。截至2024年3月31日的三個月,AISC的售價爲每盎司1,522美元。
在截至2024年3月31日的三個月中,開採了133,090噸礦石,在滲濾臺上堆放了145,479噸礦石,平均黃金品位爲0.56克/噸。
截至2024年3月31日,現金餘額爲6,740美元(包括歸類爲待售資產的87美元);銀行債務、應付賬款和其他債務總額(包括歸類爲待售資產中的81美元負債,不包括可轉換債券、流式協議、租賃負債、應納稅和資產報廢義務)爲70,216美元,淨負債爲63,476美元。
2024年1月9日,該公司宣佈已與Hexagon Build Engineering LLC簽訂了第二階段擴建的交鑰匙工程、採購和施工合同。
第二階段擴建正在根據預計的時間表和預算進行中,計劃於2026年第一季度投入使用。
2024 年 3 月 15 日,公司簽訂了經修訂和重述的黃金預付協議(”A&R 預付協議“)額外預付款5,000美元,還款期限爲五個月,從2024年8月15日開始,按月等額向三旗國際有限公司交付530盎司黃金,總額爲2650盎司。
2024年3月26日,就第二階段擴建項目(定義見下文),向EPC承包商支付了37,000美元的里程碑式付款,用於爲主要長期潛在項目的採購、動員成本、早期施工工程和基礎工作提供資金。主要的長鉛項目包括浮選池、研磨機、集束旋風分離器、增稠劑裝置、過濾器和泵送系統。
2024 年 4 月 11 日,該公司宣佈已進入股票交易所(”股份交換協議“) 根據該協議,它將從Boroo Pte Ltd的間接全資子公司收購Boroo Gold LLC的所有已發行和流通普通股。(”Boroo 新加坡“)在全股交易中(”Boroo 黃金交易“)。
此外,2024年4月11日,該公司宣佈已簽訂單獨的最終股票購買協議(”股票購買協議“),根據該協議,公司將以約1200萬加元的現金向新加坡博魯出售特雷斯克魯斯氧化物項目(”特雷斯克魯斯交易“,再加上 Boroo 黃金交易,”擬議的交易“),從截止日期(定義見股票購買協議)起的未來18個月內支付。
Outlook
外表
The Proposed Transaction to acquire Boroo Gold is a transformational step for the Company. With an expected closing in the third quarter of 2024, the Proposed Transaction is expected to accelerate the path to a multi-asset Mongolia-focused mining group and, importantly, is projected to immediately provide strong cash flow to support growth plans, further improved with the recent strong gold prices. The Proposed Transaction is subject to customary closing conditions, including receipt of approval by the Company's shareholders at the annual general and special meeting of shareholders expected to be held at the end of June 2024, and certain regulatory approvals, including the approvals of the Toronto Stock Exchange and applicable Mongolian authorities.
收購Boroo Gold的擬議交易是公司的轉型步驟。該擬議交易預計將於2024年第三季度完成,預計將加快通往以蒙古爲重點的多資產礦業集團的道路,更重要的是,預計將立即提供強勁的現金流以支持增長計劃,而近期金價的強勁將進一步改善。擬議交易須遵守慣例成交條件,包括在預計於2024年6月底舉行的年度股東大會和特別股東大會上獲得公司股東的批准,以及某些監管部門的批准,包括多倫多證券交易所和相關蒙古當局的批准。
The near term focus for the Company is on maximising production and cash flows at ATO Phase 1, executing on a successful completion of the Phase 2 Expansion, where construction activity continues, with a planned commissioning in Q1 2026, and on working towards closing the Proposed Transaction and planning for the successful integration of Boroo Gold into the Company's operations.
公司近期的重點是最大限度地提高澳大利亞稅務局第一階段的產量和現金流,成功完成第二階段擴建項目,該階段的施工活動仍在繼續,計劃於2026年第一季度投產,並努力完成擬議交易,並計劃將Boroo Gold成功整合到公司的運營中。
With the projected additional operating cash flow accruing from the Boroo Gold Transaction, the Company expects to be well-placed to increase exploration activities at both production centres with the aim of extending resources, reserves and production. The Company will also consider opportunistic acquisitions in Mongolia.
隨着Boroo黃金交易預計將產生額外的運營現金流,該公司預計將處於有利地位,可以增加兩個生產中心的勘探活動,以擴大資源、儲量和產量。該公司還將考慮在蒙古進行機會主義收購。
The Company's condensed interim consolidated financial results for the quarter ended March 31, 2024 have been filed on SEDAR+. The full version of the condensed interim consolidated financial statements and associated management's discussion & analysis can be viewed on the Company's website at or under the Company's profile on SEDAR+ at .
該公司截至2024年3月31日的季度簡要中期合併財務業績已在SEDAR+上公佈。簡明的中期合併財務報表的完整版本以及相關管理層的討論和分析可在公司網站SEDAR+的公司簡介下查看,網址爲。
Steppe Gold Ltd.
Steppe Gold Ltd.
Steppe Gold is Mongolia's premier precious metals company.
Steppe Gold是蒙古首屈一指的貴金屬公司。
For Further information, please contact:
欲了解更多信息,請聯繫:
Bataa Tumur-Ochir, Chairman and CEO
Bataa Tumur-Ochir,董事長兼首席執行官
Jeremy South, Senior Vice President and Chief Financial Officer
傑里米·索斯,高級副總裁兼首席財務官
Elisa Tagarvaa, Investor Relations elisa@steppegold.com
Elisa Tagarvaa,投資者關係 elisa@steppegold.com
Shangri-La office, Suite 1201, Olympic Street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914
香格里拉辦公室,奧林匹克街 1201 室
19A,蘇赫巴托爾第一區
烏蘭巴托 14241,蒙古
電話:+976 7732 1914
Non-IFRS Performance Measures
非國際財務報告準則績效指標
The Company uses the following non-IFRS measures: Adjusted EBITDA, EBITDA and AISC. EBITDA is earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as adjusted earnings before interest, taxes, depreciation and amortization. AISC is calculated using cash costs in addition to general and administration, asset retirement costs, and sustaining capital, less certain non-recurring costs (notably exploration costs at the Mungu deposit) to provide an overall company outlook on the total cost required to sell an ounce of gold.
公司使用以下非國際財務報告準則指標:調整後的息稅折舊攤銷前利潤、息稅折舊攤銷前利潤和AISC。息稅折舊攤銷前利潤是扣除利息、稅項、折舊和攤銷前的收益。調整後的息稅折舊攤銷前利潤定義爲扣除利息、稅項、折舊和攤銷前的調整後收益。AISC是使用現金成本以及一般和管理成本、資產報廢成本和持續資本來計算的,減去某些非經常性成本(尤其是芒古礦牀的勘探成本),以提供公司對出售一盎司黃金所需的總成本的總體展望。
Management believes that these non-IFRS measures provide useful information to investors in measuring the financial performance of the Company for the reasons outlined below. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These measures are not necessarily standard and therefore may not be comparable to other issuers. Further details of non-IFRS measures noted above can be found in the Company's management's discussion & analysis for the three months ended March 31, 2024.
管理層認爲,這些非國際財務報告準則指標爲投資者衡量公司財務業績提供了有用的信息,原因如下。這些指標不具有《國際財務報告準則》規定的標準化含義,因此它們可能無法與其他上市公司提出的標題相似的衡量標準相提並論,不應被解釋爲根據國際財務報告準則確定的其他財務指標的替代方案。該公司認爲,這些指標,加上根據國際財務報告準則確定的指標,提高了投資者評估公司基本業績的能力。納入這些衡量標準意在提供額外信息,不應用作根據《國際財務報告準則》編制的業績衡量標準的替代品。這些措施不一定是標準的,因此可能無法與其他發行人相提並論。上述非國際財務報告準則指標的更多細節可以在公司管理層對截至2024年3月31日的三個月的討論和分析中找到。
Cautionary Note Regarding Forward-Looking Statements
關於前瞻性陳述的警示說明
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results, or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "continued", "focus", "scheduled", "will", "projected", "expected", "planned" and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the anticipated benefits of the Boroo Gold Transaction; the potential for value creation to Steppe Gold's shareholders; payments to be made under the A&R Prepay Agreement; consummation and timing of the Proposed Transaction; the satisfaction of the conditions precedent to the Proposed Transaction; the strengths, characteristics and potential of the resulting company and discussion of future plans, projections, objectives, estimates and forecasts and the timing related thereto, including with respect to the Phase 2 Expansion and the ATO gold mine.
本新聞稿包含與公司相關的某些陳述或披露,這些陳述或披露基於公司管理層的預期,以及公司做出的假設和目前可獲得的信息,根據適用的證券法,這些陳述或信息可能構成前瞻性陳述或信息(“前瞻性陳述”)。除歷史事實外,所有涉及公司預期或預期未來可能或將要發生的活動、事件、結果、業績或發展的陳述和披露(全部或部分)均應被視爲前瞻性陳述。在某些情況下,前瞻性陳述可以通過使用 “繼續”、“重點”、“計劃”、“將”、“預期”、“預期”、“計劃” 和類似的表述來識別。特別是,但不限制上述內容,本新聞稿包含與以下內容有關的前瞻性陳述:Boroo Gold交易的預期收益;Steppe Gold股東創造價值的可能性;根據A&R Prepay協議支付的款項;擬議交易的完成和時機;擬議交易前提條件的滿足情況;由此產生的公司的優勢、特徵和潛力以及對未來計劃、預測和目標的討論,估計以及預測和相關時機,包括與第二階段擴建和澳大利亞稅務局金礦有關的預測和時機。
The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: required shareholder, regulatory and stock exchange approvals; approvals from applicable Mongolian authorities; exercise of any termination rights under the Share Exchange Agreement or the Share Purchase Agreements; meeting other conditions precedent to each of the Share Exchange Agreement and the Share Purchase Agreements material adverse effects on the business, properties and assets of the Company; changes in business plans and strategies; market and capital finance conditions; risks inherent to any capital financing transactions; changes in world commodity markets; currency fluctuations; costs and supply of materials relevant to the mining industry; change in government and changes to regulations affecting the mining industry; and such other risk factors detailed from time to time in Steppe Gold's public disclosure documents, including, without limitation, those risks identified in Steppe Gold's annual information form for the year ended December 31, 2023, which is available on SEDAR+ at .
本新聞稿中包含的前瞻性陳述反映了公司的幾個重要因素以及預期和假設,包括但不限於:所需的股東、監管機構和證券交易所的批准;蒙古相關機構的批准;行使股票交易協議或股票購買協議下的任何終止權;滿足每份股票交易協議和股票購買協議的先決條件對公司的業務、財產和資產的重大不利影響公司;業務計劃和戰略的變化;市場和資本融資狀況;任何資本融資交易的固有風險;世界大宗商品市場的變化;貨幣波動;與採礦業相關的材料的成本和供應;政府更迭和影響採礦業的監管變化;以及Steppe Gold公開披露文件中不時詳述的其他風險因素,包括但不限於Steppe Gold截至12月的年度信息表中列出的風險2023 年 31 月 31 日,可在 SEDAR+ 上購買,網址爲。
Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by such forward-looking statements. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Steppe Gold assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Steppe Gold updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other forward-looking statements. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
前瞻性陳述基於發表這些陳述時可用的信息和/或管理層當時對未來事件的真誠信念,並且存在風險和不確定性,這些風險和不確定性可能導致實際表現或結果與此類前瞻性陳述中表達或建議的業績存在重大差異。前瞻性陳述僅代表這些陳述發表之日。除非適用法律要求,否則Steppe Gold沒有義務更新或公開宣佈此處包含或以引用方式納入的任何前瞻性陳述的任何變更的結果,以反映實際業績、未來事件或發展、假設變化或影響前瞻性陳述的其他因素的變化。如果Steppe Gold更新了任何一項或多項前瞻性陳述,則不應推斷該公司將對這些或其他前瞻性陳述進行更多更新。本新聞稿中包含的所有前瞻性陳述均受本警示聲明的全部明確限制。
譯文內容由第三人軟體翻譯。