Nasdaq GlobeNewswire

Robex Resources Inc. Generated Cash Flow From Operating Activities of $11.3 Million in the First Quarter of 2018 for Revenues of $20.6 Million

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QUEBEC CITY, May 30, 2018 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" and / or "the Company") (TSX-V:RBX) (FRANKFURT:RB4) is pleased to publish their financial results for the quarter ended March 31, 2018.

All amounts are in Canadian dollars.

Highlights for the first quarter of 2018
(Compared to the same period in 2017)

  • INCREASE OF IN GOLD PRODUCTION OF 54%
    Gold production of 11,989 ounces (372.9 kg) compared to 7,771 (241.7 kg) ounces for the same period in 2017             
  • INCREASE IN SALES (REVENUES) OF 66%
    Gold sales of $20.6 million compared to $12.4 million for the same period of 2017             
  • INCREASE IN OPERATING INCOME BY 56%
    Operating income of $6.9 million compared to $4.4 million for the same period in 2017             
  • INCREASE IN ADJUSTED NET RESULTS ATTRIBUTABLE TO SHAREHOLDERS 2  OF 78%
    Net income attributable to equity shareholders2 of $4.8 million or $0.008 per action2 compared to $2.7 million or $0.005 per actionfor the same period in 2017
  • INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES 1  OF 88%
    Cash flows from operating activities1 of $9.6 million or $0.017 per action2 compared to $5.1 million or $0.009 per action2 for the same period in 2017
  • DECREASE IN TOTAL COST 2  OF $26 PER SOLD OUNCE
    Total cash cost2 of $638 per ounce sold compared to $664 per ounce sold for the same period in 2017
  • DECREASE IN THE COMPANY'S LIABILITIES OF $2.2 MILLION
    Decrease in the Company's liabilities of $2.2 million compared to December 31, 2017             
  • INCREASE IN EQUITY OF $9.2 MILLION
    Increase in value to the shareholders (book value) of $9.2 million compared to December 31, 2017

Mining operation: Nampala, Mali

  First quarters ended March 31,
  2018   2017  
Operating Data    
Ore mined (tonnes) 491,342   270,721  
Ore processed  (tonnes) 445,226   359,945  
Waste mined (tonnes) 1,047,870   616,567  
Operational stripping ratio* 2.1   2.3  
Head grade  (gpt) 0.93   0.93  
Recovery (%) 83.9 % 85.9 %
Gold ounces produced 11,989   7,771  
Gold ounces sold 11,989   7,548  
Financial Data    
(rounded to the nearest thousand dollars)    
Revenues - Gold sales 20,573,000   12,405,000  
Mining operation expenses 6,973,000   4,718,000  
Mining royalties 672,000   294,000  
Administrative expenses 1,549,000   816,000  
Depreciation of property, plant and equipment and amortization of intangible assets 2,906,000   1,597,000  
Segment operating income 8,473,000   4,980,000  
Statistics    
(in Canadian dollars)    
Average realized selling price per ounce 1,716   1,643  
Cash operating cost per tonne processed3 14   14  
Total cash cost per ounce sold3 638   664  
All-in sustaining cost per ounce sold3 1,019   945  
Administrative expenses per ounce sold 129   108  
Depreciation of property, plant and equipment per ounce sold 242   212  

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.

For Information:

Ressources Robex Inc.
Guillaume Emond, CPA, CMA, VP Admin
Augustin Rousselet, CFO and COO
Head office : (581) 741-7421
info@robexgold.com 
www.robexgold.com 

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 Cash flows from operating activities exclude changes in non-cash working capital items.
2 Operating cash flows per share, total cash cost, all-in sustaining cost and adjusted net income attributable to equity shareholders 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 24.
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 24.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Robex Resources Inc. via Globenewswire

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