Robex Resources has Obtained a Loan in the Amount of $11.5 Million with a Globally Renowned Banking Group
QUEBEC CITY, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" and / or "the Company") (TSXV: RBX / FWB: RB4) is pleased to announce that we have obtained bank financing from the group BNP PARIBAS in the amount of $11.5 million (CAD) bearing interest at the rate of 7% annually.
This loan will be used to repay the convertible debentures that matured on July 1st. As a result, 71,050,000 conversion rights related to these debentures will no longer be in effect, which significantly decreases the potential dilution. In addition, this loan is repayable over four years, and will reduce the financial burden of the Company because the convertible debentures bore interest at a rate of 10% annually.
The latter will also be used to repay the interest accrued on the convertible debentures maturing in November.
Results for the second quarter of 2018
THE COMPANY GENERATED CASH FLOW FROM OPERATING ACTIVITIES OF $8.3 MILLION IN THE SECOND QUARTER OF 2018 FOR REVENUES OF $19.4 MILLION
All amounts are in Canadian dollars.
Highlights for the second quarter of 2018
(Compared to the same period in 2017)
INCREASE OF IN GOLD PRODUCTION OF 31%
Gold production of 11,716 ounces (364.4 kg) compared to 8,965 (278.8 kg) ounces for the same period in 2017
INCREASE IN SALES (REVENUES) OF 27%
Gold sales of $19.4 million compared to $15.2 million for the same period of 2017
INCREASE IN ADJUSTED NET RESULTS ATTRIBUTABLE TO SHAREHOLDERS
Net income attributable to equity shareholders1 of $4.8 million or $0.008 per action1 compared to $2.8 million or $0.005 per action1 for the same period in 2017
INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from operating activities2 of $8.3 million or $0.014 per action1 compared to $2.8 million or $0.012 per action1 for the same period in 2017
DECREASE IN THE COMPANY’S LIABILITIES OF $3 MILLION
Decrease in the Company’s liabilities of $3 million compared to March 31, 2018
INCREASE IN EQUITY OF $2.4 MILLION
Increase in value to the shareholders (book value) of $2.4 million compared to March 31, 2018
Mining operation: Nampala, Mali
ended June 30,
ended June 30,
|Ore mined (tonnes)||448,974||379,720||940,316||650,441|
|Ore processed (tonnes)||436,224||381,973||881,450||741,918|
|Waste mined (tonnes)||819,691||615,750||1,867,561||1,232,317|
|Operational stripping ratio*||1.8||1.6||2.0||1.9|
|Head grade (gpt)||0.94||0.77||0.93||0.85|
|Gold ounces produced||11,716||8,965||23,705||16,735|
|Gold ounces sold||11,481||8,987||23,470||16,535|
|(rounded to the nearest thousand dollars)|
|Revenues – Gold sales||19,376,000||15,207,000||39,949,000||27,613,000|
|Mining operation expenses||6,226,000||4,941,000||13,199,000||9,660,000|
|Depreciation of property, plant and equipment and amortization of intangible assets||2,918,000||1,940,000||5,824,000||3,537,000|
|Segment operating income||8,033,000||6,483,000||16,507,000||11,463,000|
|(in Canadian dollars)|
|Average realized selling price per ounce||1,688||1,692||1,702||1,670|
|Cash operating cost per tonne processed3||14||11||14||12|
|Total cash cost per ounce sold3||597||590||618||624|
|All-in sustaining cost per ounce sold3||921||872||971||905|
|Administrative expenses per ounce sold||137||165||133||139|
|Depreciation of property, plant and equipment per ounce sold||254||216||248||214|
ROBEX’S MD&A and the consolidated financial statements are available on the Company's website in the Investors section at: Robexgold.com. These reports and other documents produced by the Company are also available at Sedar.com.
Annual General Shareholders' Meeting
Robex Resources Inc. held their annual general shareholders meeting on June 7, 2018 in Quebec City.
At this meeting, the following directors were re-elected for a one-year term: Mr. Georges Cohen, Mr. Julien Cohen, Mr. Benjamin Cohen, Mr. Richard Faucher, Mr. Michel Doyon, Mr. Claude Goulet and Mr. Christian Marti.
Mr. Georges Cohen and Mr. Richard Faucher were elected by the directors of the Company respectively as President and Vice-president of the Board of Directors. In addition, the following directors were re-elected as members of the Company's audit committee for a one-year term: Mr. Julien Cohen, Mr. Michel Doyon and Mr. Claude Goulet.
Robex Resources Inc. shareholders voted in favor of the appointment of PricewaterhouseCooper LLP / s.r.l / s.e.n.c.r.l., who will be responsible for the audit of the Company's financial statements for the year ended December 31, 2018.
|Ressources Robex Inc.|
|Guillaume Emond, CPA, CMA, VP Admin|
Augustin Rousselet, CFO et COO
Head office : (581) 741-7421
This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex’s management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Adjusted net income attributable to equity shareholders and operating cash flows per share are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, on page 28.
2 Cash flows from operating activities exclude changes in non-cash working capital items.
3 Cash operating cost, total cash cost and all-in sustaining cost are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, on page 28.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Real World Cloud Orchestration Facilitates Easy Migration to All-IP18.4.2019 22:05:00 CEST | Pressemelding
For All-IP service providers in Malta and the Netherlands, Patton Cloud edge orchestration has lowered costs with fast, simple activation and management of enterprise IP-Telephony services SmartNode VoIP… More than Just Talk! BERN, Switzerland, April 18, 2019 (GLOBE NEWSWIRE) -- Patton—a U.S. network-equipment manufacturer and multi-national provider of enabling solutions for virtualized network function virtualization (NFV) SD-WAN, All-IP, and unified communications (UC) services—has saved the day for Dutch and Maltese national IP-communications providers with its Patton Cloud network edge orchestration service. VIDEO: Cloud Powered Services Netherlands ISDN Services are going away in the Netherlands. Yet scores of business subscribers can't simply jump into an All-IP network overnight. Investments in ISDN-based systems, fused with established business-processes, preclude such reckless dismantling of on-premise legacy systems. Business customers need flexibility to manage migration to
Acreage Holdings Announces Signing of Arrangement Agreement18.4.2019 17:02:00 CEST | Pressemelding
FRANKFURT, Germany, April 18, 2019 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.U) (OTC:ACRGF) (FSE:0VZ) and Canopy Growth Corporation (“Canopy Growth”) (TSX:WEED) (NYSE:CGC) (together, the “Companies”) entered into a definitive arrangement agreement (the "Agreement") that grants Canopy Growth the right to acquire 100 percent of the shares of Acreage (the “Right”), with a requirement to do so at such time as cannabis production and sale becomes federally legal in the United States of America (the "Transaction"), subject to obtaining the requisite prior approval of the shareholders of each of Acreage and Canopy Growth, respectively (the “Shareholder Approval”), as well as the approval of the Supreme Court of British Columbia, Canada (the “Court Approval”). Following the Shareholder Approval and the Court Approval, under the terms of the Agreement, and upon exercise of the Right, the total consideration payable pursuant to the Transaction is valued at approximatel
WillScot to Participate at the Credit Suisse Extreme Services Conference18.4.2019 16:19:00 CEST | Pressemelding
BALTIMORE, April 18, 2019 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot”) (NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that Brad Soultz, President and Chief Executive Officer, and Tim Boswell, Chief Financial Officer, will host a day of one-on-one and group meetings with investors at the Credit Suisse Extreme Services Conference to be held at Credit Suisse’s New York City office, on Tuesday, May 7, 2019. About WillScot Corporation Headquartered in Baltimore, Maryland, WillScot is the public holding company for the Williams Scotsman family of companies. WillScot trades on the Nasdaq stock exchange under the ticker symbol "WSC," and is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. WillScot is the modular space supplier of choice for the construction, education, health care, governm
TrueCommerce Datalliance Releases First Platform Update of 201918.4.2019 16:00:00 CEST | Pressemelding
Supply chain software company expands self-service options, more control for customers’ data CINCINNATI, April 18, 2019 (GLOBE NEWSWIRE) -- TrueCommerce, a global provider of trading partner connectivity, integration and unified commerce solutions, has announced today that TrueCommerce Datalliance, its division focusing on vendor managed inventory (VMI) and collaborative replenishment (CR) software, has released its first of three software updates for 2019. In addition to general reliability and stability fixes, the update provides customers with more control over updating specific fields and who has access to that information, as well as adding store-driven demand. Doug Bethea, Vice President of Consumer Goods Solutions said, “Every update is multifaceted. We implement necessary security changes and adjust code to optimize performance for our customers. We also bring our own ideas as value-adds. Additionally, we are always working with customers to implement advanced features as it is
Constellation Brands Enters Into Agreement with Canopy Growth Corporation to Modify Warrants and Other Rights18.4.2019 15:33:00 CEST | Pressemelding
VICTOR, N.Y., April 18, 2019 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, today announced that it plans to enter into an agreement with Canopy Growth Corporation (“Canopy”) (TSX: WEED, NYSE: CGC), a leading diversified cannabis company, to modify certain warrants and other rights. These changes are the result of Canopy’s intentions to acquire Acreage Holdings, Inc. (“Acreage”) upon U.S. Federal cannabis legalization. Earlier today, Canopy announced (see Canopy press release “Canopy Growth Announces Option to Acquire Leading U.S. Multi-state Cannabis Operator, Acreage Holdings”) it has entered into an agreement with Acreage, a U.S. multi-state cannabis operator, where Canopy plans to acquire the shares of Acreage upon U.S. Federal cannabis legalization (the “Triggering Event”), subject to certain conditions. This transaction, as well as proposed modifications to certain Constellation warrants, are subject to approval by Canopy
Resverlogix’ BETonMACE Phase 3 Trial Successfully Reaches its Targeted 250 MACE Events18.4.2019 14:00:00 CEST | Pressemelding
World’s First Phase 3 BET Bromodomain Epigenetics Trial Reaches Events Target CALGARY, Alberta, April 18, 2019 (GLOBE NEWSWIRE) -- Resverlogix Corp. (“Resverlogix” or the "Company") (TSX:RVX) today announces that BETonMACE, the Company’s event-based, phase 3 registration trial has successfully reached 250 projected major adverse cardiac events (MACE), strictly defined as cardiovascular death, non-fatal myocardial infarction and stroke, moving the trial towards completion. Successful data from this trial would enable Resverlogix to proceed towards the regulatory approval and commercialization of its lead drug, apabetalone. “Resverlogix staff and stakeholders have worked diligently for the past 18 years to attain this extremely exciting goal,” said Donald McCaffrey, President and CEO of Resverlogix. “The trial’s extensive breakthrough clinical data will soon be available to Resverlogix. Successfully meeting the trial’s endpoints, the substantial data set and otherwise new findings would