Gran Colombia Gold (Seite 617)
eröffnet am 02.11.10 14:47:21 von
neuester Beitrag 25.04.24 08:32:43 von
neuester Beitrag 25.04.24 08:32:43 von
Beiträge: 8.324
ID: 1.160.906
ID: 1.160.906
Aufrufe heute: 136
Gesamt: 702.701
Gesamt: 702.701
Aktive User: 0
ISIN: CA04040Y1097 · WKN: A3DTTG · Symbol: ARIS
5,3800
CAD
-0,92 %
-0,0500 CAD
Letzter Kurs 24.04.24 Toronto
Neuigkeiten
01.08.23 · EQS Group AG |
26.07.23 · wO Chartvergleich |
Werte aus der Branche Rohstoffe
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 0,7950 | +30,33 | |
| 227,00 | +21,91 | |
| 5,1500 | +21,75 | |
| 16,019 | +17,18 | |
| 29,66 | +16,41 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 1,1200 | -6,67 | |
| 29,70 | -7,19 | |
| 7,2100 | -7,80 | |
| 2,1800 | -9,17 | |
| 0,5580 | -30,25 |
Beitrag zu dieser Diskussion schreiben
Feedback
Antwort auf Beitrag Nr.: 52.436.805 von Osito2011 am 19.05.16 09:36:59Aber du weisst, dass solche Titel sehr stark anziehen können, also dein EP sehr schnell erreicht werden kann.
Als Beispiel: Coral Gold war im Februar noch zu 0.06 CAD zu haben, liegen aktuell bei 0.20 CAD, also mehr als ein Verdreifachung in 3 Monaten!!!
Als Beispiel: Coral Gold war im Februar noch zu 0.06 CAD zu haben, liegen aktuell bei 0.20 CAD, also mehr als ein Verdreifachung in 3 Monaten!!!
Antwort auf Beitrag Nr.: 52.434.459 von ursa2 am 18.05.16 21:55:06Ich war "mutig"; mein Durchschnitt -EK liegt bei 13 euro cent.....
die ganze Kohle geht an die halter von den notes; hier geduldig zu sein fällt sehr, sehr schwer....man fühlkt sich eben ( und so ist es auch) betrogen.....mfG
die ganze Kohle geht an die halter von den notes; hier geduldig zu sein fällt sehr, sehr schwer....man fühlkt sich eben ( und so ist es auch) betrogen.....mfG
Tja, als Altaktionär sieht's halt immer noch schlecht aus, trotz der erfreulichen Fortschritte.
Wer aber heute zu diesen Preisen bei 0.09 bis 0.1 CAD einsteigt, dürfte bei steigendem Goldpreis ziemlich schnell hohe Gewinne einfahren, für den Altaktionär könnte es dazuführen, dass er wenigstens die Buchverluste wieder wettmacht. Also sicher nicht jetzt verkaufen und weiter durchhalten, mit etwas Mut halt auch nochmals zukaufen, um den hohen EP zu drücken.
Wer aber heute zu diesen Preisen bei 0.09 bis 0.1 CAD einsteigt, dürfte bei steigendem Goldpreis ziemlich schnell hohe Gewinne einfahren, für den Altaktionär könnte es dazuführen, dass er wenigstens die Buchverluste wieder wettmacht. Also sicher nicht jetzt verkaufen und weiter durchhalten, mit etwas Mut halt auch nochmals zukaufen, um den hohen EP zu drücken.
Gran Colombia Gold Announces First Quarter 2016 Results; Steady Improvement in EBITDA, Costs and Production
TORONTO, ON --(May 12, 2016) - Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today the release of its unaudited condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2016. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
First Quarter 2016 Highlights
•On January 20, 2016 (the "Exchange Date"), Gran Colombia completed the comprehensive restructuring of its Senior Secured Gold-Linked Notes due October 2017 (the "Gold Notes") and Senior Unsecured Silver-Linked Notes due August 2018 (the "Silver Notes), bringing it out of default and improving its liquidity as it continues with its mine plan implementation at the Segovia Operations.
•Gran Colombia reported further improvement in its quarterly adjusted EBITDA which amounted to $11.6 million in the first quarter of 2016 compared with $7.1 million in the first quarter last year. Increased production together with the significant reduction in total cash costs and G&A expenses were the primary drivers. See the Company's MD&A for the computation and components of this non-IFRS measure.
•Gran Colombia maintained its cash position at $3.0 million at the end of the first quarter of 2016. Adjusted EBITDA generated in the first quarter of 2016 was deployed to fund interest payments on the Company's senior debt, costs associated with completion of the comprehensive restructuring, capital expenditures and payment plans with local creditors as part of the Company's initiative to reduce its working capital deficit this year.
•Gran Colombia met its expectation for the first quarter of 2016 as gold production totalled 31,489 ounces, up 5% from the fourth quarter of 2015 and up 31% from the first quarter a year ago. With a further 12,053 ounces produced in April, the Company remains on track with its production guidance for 2016 of a total of 120,000 to 138,000 ounces of gold for the year.
•Revenue of $34.5 million in the first quarter of 2016, up 12% over the first quarter last year, primarily reflects the increased gold production this year that contributed to a 17% increase in gold ounces sold, offset partially by the impact of lower gold prices in 2016 that decreased the Gran Colombia's realized gold prices by 4% to an average of $1,144 per ounce for the first quarter of 2016.
•Devaluation of the Colombian peso, the increased gold production reducing fixed costs on a per ounce basis, and cost savings all combined to reduce total cash costs by 17% from a year ago to $685 per ounce in the first quarter of 2016 and bringing all-in sustaining costs ("AISC") down by 16% to $790 per ounce for the first quarter this year. See the Company's MD&A for the computation of these non-IFRS measures.
•Gran Colombia reported net income attributable to shareholders of $10.8 million for the first quarter of 2016, or $0.15 per share, compared with a net loss attributable to shareholders of $3.3 million, or $0.14 per share, in the first quarter of 2015. The current quarter's net income attributable to shareholders includes $14.5 million, or $0.20 per share, of after-tax mark-to-market ("MTM") gains on the Gold and Silver Notes up to the Exchange Date.
•After adjustments for the after-tax MTM gains and certain other items as set out in a reconciliation in the Company's MD&A, Gran Colombia reported adjusted net income attributable to shareholders of $0.3 million, or $0.00 per share, in the first quarter of 2016 compared with an adjusted net loss of $1.8 million, or $0.08 per share, in the first quarter last year. The improvement in the current quarter's adjusted EBITDA, partially offset by costs associated with completion of the debt restructuring, was largely responsible for the year-over-year improvement in adjusted net income attributable to shareholders.
Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, commenting on the Company's results for the first quarter of 2016, said, "We are making steady progress in the execution of our business plan. The improvement in our adjusted EBITDA, made possible through reductions in our costs and production growth, is enabling us to use our operating cash flow in the short-term to improve our balance sheet by reducing our working capital deficit and, ultimately, is essential for building the cash required to repay our senior debt."
Financial and Operating Summary
A summary of the financial and operating results for the first quarters of 2016 and 2015 follows:
img1
(1) Refer to "Additional Financial Measures" in the Company's MD&A.
(2) Represents carrying amounts which are at a discount to principal amounts. Refer to Company's Interim Financial Statements for additional details regarding the 2018 and 2020 Debentures.
Segovia Operations
First quarter 2016 gold production at Segovia totalled 25,999 ounces, up 8.9% from the fourth quarter of 2015 and up 40.3% from the first quarter a year ago. An increased volume of higher grade material from the contract mining cooperatives enabled the Company to process an average of 730 tpd with head grades averaging 12.9 g/t in the first quarter of 2016, an improvement from 678 tpd at an average head grade of 12.0 g/t in the fourth quarter of 2015 and 500 tpd at head grades averaging 14.1 g/t in the first quarter a year ago. Gran Colombia is continuing with the mine development and mechanization program according to the optimized mine plan developed in 2015 and expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.
The Company's total cash cost results in the first quarter of 2016 saw a continuation of the trend experienced in 2015 as further devaluation of the Colombian peso against the U.S. dollar, increased production volumes reducing fixed costs on a per ounce basis and costs savings all combined to decrease total cash costs at the Segovia Operations to $659 per ounce, 17% lower than reported for the first quarter last year.
Marmato Operations
At the Marmato Underground mine, the Company processed 820 tpd at an average head grade of 2.6 g/t yielding gold production of 5,490 ounces in the first quarter of 2016, down 11.2% from the fourth quarter of 2015 in which it processed 860 tpd at head grades averaging 2.8 g/t and on par with the first quarter a year ago when it processed 813 tpd at head grades averaging 2.6 g/t. The Company expects to produce a total of 24,000 to 28,000 ounces at its Marmato Operations for the full year 2016.
Further devaluation of the Colombian peso also had a positive impact on Marmato's total cash costs per once in the first quarter of 2016 compared with previous quarters and, despite a decline in head grades resulting in lower gold production that contributed to an increase in its total cash costs to $847 per ounce in the current quarter, Marmato's total cash costs per ounce were still 7% better than the first quarter last year.
Outlook
With a total of 43,542 ounces of gold produced through the first four months of 2016, the Company is well on its way towards its annual gold production guidance for 2016 of approximately 120,000 to 138,000 ounces. The results for total cash costs and AISC per ounce for the first quarter of 2016 were also in line with Gran Colombia's expectations. For the full year 2016, Gran Colombia expects its total cash costs to average between $700 and $750 per ounce, which will be influenced by the exchange rate of the Colombian peso relative to the U.S. dollar and by production volumes during the balance of the year. Gran Colombia also anticipates that its average AISC for the full year will be between $850 and $950 per ounce, reflecting an expected increase in the level of capital investment in its Segovia Operations in the second half of 2016.
Since the debt restructuring closed in January 2016, holders of the 2018 Debentures and the 2020 Debentures have elected to convert $2.3 million and $0.7 million, respectively, into a total of 23.5 million common shares, increasing the issued and outstanding common shares to a total of 137,074,520 and reducing the principal amounts of the 2018 Debentures and 2020 Debentures to $68.8 million and $103.3 million, respectively, at May 12, 2016.
TORONTO, ON --(May 12, 2016) - Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today the release of its unaudited condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2016. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
First Quarter 2016 Highlights
•On January 20, 2016 (the "Exchange Date"), Gran Colombia completed the comprehensive restructuring of its Senior Secured Gold-Linked Notes due October 2017 (the "Gold Notes") and Senior Unsecured Silver-Linked Notes due August 2018 (the "Silver Notes), bringing it out of default and improving its liquidity as it continues with its mine plan implementation at the Segovia Operations.
•Gran Colombia reported further improvement in its quarterly adjusted EBITDA which amounted to $11.6 million in the first quarter of 2016 compared with $7.1 million in the first quarter last year. Increased production together with the significant reduction in total cash costs and G&A expenses were the primary drivers. See the Company's MD&A for the computation and components of this non-IFRS measure.
•Gran Colombia maintained its cash position at $3.0 million at the end of the first quarter of 2016. Adjusted EBITDA generated in the first quarter of 2016 was deployed to fund interest payments on the Company's senior debt, costs associated with completion of the comprehensive restructuring, capital expenditures and payment plans with local creditors as part of the Company's initiative to reduce its working capital deficit this year.
•Gran Colombia met its expectation for the first quarter of 2016 as gold production totalled 31,489 ounces, up 5% from the fourth quarter of 2015 and up 31% from the first quarter a year ago. With a further 12,053 ounces produced in April, the Company remains on track with its production guidance for 2016 of a total of 120,000 to 138,000 ounces of gold for the year.
•Revenue of $34.5 million in the first quarter of 2016, up 12% over the first quarter last year, primarily reflects the increased gold production this year that contributed to a 17% increase in gold ounces sold, offset partially by the impact of lower gold prices in 2016 that decreased the Gran Colombia's realized gold prices by 4% to an average of $1,144 per ounce for the first quarter of 2016.
•Devaluation of the Colombian peso, the increased gold production reducing fixed costs on a per ounce basis, and cost savings all combined to reduce total cash costs by 17% from a year ago to $685 per ounce in the first quarter of 2016 and bringing all-in sustaining costs ("AISC") down by 16% to $790 per ounce for the first quarter this year. See the Company's MD&A for the computation of these non-IFRS measures.
•Gran Colombia reported net income attributable to shareholders of $10.8 million for the first quarter of 2016, or $0.15 per share, compared with a net loss attributable to shareholders of $3.3 million, or $0.14 per share, in the first quarter of 2015. The current quarter's net income attributable to shareholders includes $14.5 million, or $0.20 per share, of after-tax mark-to-market ("MTM") gains on the Gold and Silver Notes up to the Exchange Date.
•After adjustments for the after-tax MTM gains and certain other items as set out in a reconciliation in the Company's MD&A, Gran Colombia reported adjusted net income attributable to shareholders of $0.3 million, or $0.00 per share, in the first quarter of 2016 compared with an adjusted net loss of $1.8 million, or $0.08 per share, in the first quarter last year. The improvement in the current quarter's adjusted EBITDA, partially offset by costs associated with completion of the debt restructuring, was largely responsible for the year-over-year improvement in adjusted net income attributable to shareholders.
Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, commenting on the Company's results for the first quarter of 2016, said, "We are making steady progress in the execution of our business plan. The improvement in our adjusted EBITDA, made possible through reductions in our costs and production growth, is enabling us to use our operating cash flow in the short-term to improve our balance sheet by reducing our working capital deficit and, ultimately, is essential for building the cash required to repay our senior debt."
Financial and Operating Summary
A summary of the financial and operating results for the first quarters of 2016 and 2015 follows:
img1
(1) Refer to "Additional Financial Measures" in the Company's MD&A.
(2) Represents carrying amounts which are at a discount to principal amounts. Refer to Company's Interim Financial Statements for additional details regarding the 2018 and 2020 Debentures.
Segovia Operations
First quarter 2016 gold production at Segovia totalled 25,999 ounces, up 8.9% from the fourth quarter of 2015 and up 40.3% from the first quarter a year ago. An increased volume of higher grade material from the contract mining cooperatives enabled the Company to process an average of 730 tpd with head grades averaging 12.9 g/t in the first quarter of 2016, an improvement from 678 tpd at an average head grade of 12.0 g/t in the fourth quarter of 2015 and 500 tpd at head grades averaging 14.1 g/t in the first quarter a year ago. Gran Colombia is continuing with the mine development and mechanization program according to the optimized mine plan developed in 2015 and expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.
The Company's total cash cost results in the first quarter of 2016 saw a continuation of the trend experienced in 2015 as further devaluation of the Colombian peso against the U.S. dollar, increased production volumes reducing fixed costs on a per ounce basis and costs savings all combined to decrease total cash costs at the Segovia Operations to $659 per ounce, 17% lower than reported for the first quarter last year.
Marmato Operations
At the Marmato Underground mine, the Company processed 820 tpd at an average head grade of 2.6 g/t yielding gold production of 5,490 ounces in the first quarter of 2016, down 11.2% from the fourth quarter of 2015 in which it processed 860 tpd at head grades averaging 2.8 g/t and on par with the first quarter a year ago when it processed 813 tpd at head grades averaging 2.6 g/t. The Company expects to produce a total of 24,000 to 28,000 ounces at its Marmato Operations for the full year 2016.
Further devaluation of the Colombian peso also had a positive impact on Marmato's total cash costs per once in the first quarter of 2016 compared with previous quarters and, despite a decline in head grades resulting in lower gold production that contributed to an increase in its total cash costs to $847 per ounce in the current quarter, Marmato's total cash costs per ounce were still 7% better than the first quarter last year.
Outlook
With a total of 43,542 ounces of gold produced through the first four months of 2016, the Company is well on its way towards its annual gold production guidance for 2016 of approximately 120,000 to 138,000 ounces. The results for total cash costs and AISC per ounce for the first quarter of 2016 were also in line with Gran Colombia's expectations. For the full year 2016, Gran Colombia expects its total cash costs to average between $700 and $750 per ounce, which will be influenced by the exchange rate of the Colombian peso relative to the U.S. dollar and by production volumes during the balance of the year. Gran Colombia also anticipates that its average AISC for the full year will be between $850 and $950 per ounce, reflecting an expected increase in the level of capital investment in its Segovia Operations in the second half of 2016.
Since the debt restructuring closed in January 2016, holders of the 2018 Debentures and the 2020 Debentures have elected to convert $2.3 million and $0.7 million, respectively, into a total of 23.5 million common shares, increasing the issued and outstanding common shares to a total of 137,074,520 and reducing the principal amounts of the 2018 Debentures and 2020 Debentures to $68.8 million and $103.3 million, respectively, at May 12, 2016.
Antwort auf Beitrag Nr.: 52.408.227 von 1188 am 14.05.16 13:26:50Ist wohl das beste. Zumindest ist die Insolvenz ( welche drohte) vom tisch. Zu dem preis wirst auf jeden Fall noch kaufen können.
Sie haben wohl nen richtig guten mann von crocodile gold geholt.....hier muss man echt abwarten...
Andere Goldminenaktien sind natürlich seit jahresanfang schon stark gestiegen....mfG
Sie haben wohl nen richtig guten mann von crocodile gold geholt.....hier muss man echt abwarten...
Andere Goldminenaktien sind natürlich seit jahresanfang schon stark gestiegen....mfG
Trading Spotlight
Antwort auf Beitrag Nr.: 52.408.089 von Osito2011 am 14.05.16 12:49:08Danke.
Dann werde ich wohl erstmal warten, ob das Management mal konkreter wird. Wenn der Goldpreis steigt, verdienen die eigentlich genug Geld, aber andere Firmen eben auch.
Dann werde ich wohl erstmal warten, ob das Management mal konkreter wird. Wenn der Goldpreis steigt, verdienen die eigentlich genug Geld, aber andere Firmen eben auch.
Antwort auf Beitrag Nr.: 52.407.387 von 1188 am 14.05.16 10:09:05Die Situation ist nach der restrukturierung sehr undurchsichtig. Auf stockhouse.com gibt es jede Menge Kommentare und mutmaßungen was den laden betrifft.
Die Halter von den notes können ihre Anteile zu einem festgelegten preis ( drum steigt der Preis der Aktie auch nicht) " umtauschen".
bei kompletter Verwässerung wären dann über 1 Milliarde Aktien draußen.
Es soll wohl ein rückkauf seitens des Unternehmens der debentures stattfinden....
Wie gesagt: sehr kompliziert....Das ist zockerei hier...leider sitze ich als " °Alt- Aktionär" noch auf den vor der Restrukturierung gekauften Aktien..
Die Goldreserven (Marmato) sind enorm. 14,4 Millionen Unzen...
Wenn der Goldpreis steigen wird( wovon man eigentlich sicher sein kann) dann könnte hier ne Rakete starten...
mfG
Die Halter von den notes können ihre Anteile zu einem festgelegten preis ( drum steigt der Preis der Aktie auch nicht) " umtauschen".
bei kompletter Verwässerung wären dann über 1 Milliarde Aktien draußen.
Es soll wohl ein rückkauf seitens des Unternehmens der debentures stattfinden....
Wie gesagt: sehr kompliziert....Das ist zockerei hier...leider sitze ich als " °Alt- Aktionär" noch auf den vor der Restrukturierung gekauften Aktien..
Die Goldreserven (Marmato) sind enorm. 14,4 Millionen Unzen...
Wenn der Goldpreis steigen wird( wovon man eigentlich sicher sein kann) dann könnte hier ne Rakete starten...
mfG
Kann mich mal einer aufklären hinsichtlich GCM.
Laut Präsentation:
ca. 137 Mill. Aktien entspricht MRK von 13,7 Mill. CAD
Schulden? 2018 69 Mil.
2020 103 Mill.
Produktion Ziel zw. 120-130k Uncen zu AISC 850-950 $/oz
Warrants und Optionen ca. 18 Mill.
Wie muss ich mir das vorstellen mit den Schulden, wie ab bezahlen?
So schlecht sind doch die Zahlen nicht, oder?
Wenn der Goldpreis steigt, sollte hier doch noch einiges möglich sein.
Sicherlich gibt es interessantere Goldaktien, aber ...
Laut Präsentation:
ca. 137 Mill. Aktien entspricht MRK von 13,7 Mill. CAD
Schulden? 2018 69 Mil.
2020 103 Mill.
Produktion Ziel zw. 120-130k Uncen zu AISC 850-950 $/oz
Warrants und Optionen ca. 18 Mill.
Wie muss ich mir das vorstellen mit den Schulden, wie ab bezahlen?
So schlecht sind doch die Zahlen nicht, oder?
Wenn der Goldpreis steigt, sollte hier doch noch einiges möglich sein.
Sicherlich gibt es interessantere Goldaktien, aber ...
Gran Colombia Gold Announces First Quarter 2016 Results; Steady Improvement in EBITDA, Costs and Production
TORONTO, ON--(Marketwired - May 12, 2016) - Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today the release of its unaudited condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2016. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
First Quarter 2016 Highlights
•On January 20, 2016 (the "Exchange Date"), Gran Colombia completed the comprehensive restructuring of its Senior Secured Gold-Linked Notes due October 2017 (the "Gold Notes") and Senior Unsecured Silver-Linked Notes due August 2018 (the "Silver Notes), bringing it out of default and improving its liquidity as it continues with its mine plan implementation at the Segovia Operations.
•Gran Colombia reported further improvement in its quarterly adjusted EBITDA which amounted to $11.6 million in the first quarter of 2016 compared with $7.1 million in the first quarter last year. Increased production together with the significant reduction in total cash costs and G&A expenses were the primary drivers. See the Company's MD&A for the computation and components of this non-IFRS measure.
•Gran Colombia maintained its cash position at $3.0 million at the end of the first quarter of 2016. Adjusted EBITDA generated in the first quarter of 2016 was deployed to fund interest payments on the Company's senior debt, costs associated with completion of the comprehensive restructuring, capital expenditures and payment plans with local creditors as part of the Company's initiative to reduce its working capital deficit this year.
•Gran Colombia met its expectation for the first quarter of 2016 as gold production totalled 31,489 ounces, up 5% from the fourth quarter of 2015 and up 31% from the first quarter a year ago. With a further 12,053 ounces produced in April, the Company remains on track with its production guidance for 2016 of a total of 120,000 to 138,000 ounces of gold for the year.
• Revenue of $34.5 million in the first quarter of 2016, up 12% over the first quarter last year, primarily reflects the increased gold production this year that contributed to a 17% increase in gold ounces sold, offset partially by the impact of lower gold prices in 2016 that decreased the Gran Colombia's realized gold prices by 4% to an average of $1,144 per ounce for the first quarter of 2016.
•Devaluation of the Colombian peso, the increased gold production reducing fixed costs on a per ounce basis, and cost savings all combined to reduce total cash costs by 17% from a year ago to $685 per ounce in the first quarter of 2016 and bringing all-in sustaining costs ("AISC") down by 16% to $790 per ounce for the first quarter this year. See the Company's MD&A for the computation of these non-IFRS measures.
•Gran Colombia reported net income attributable to shareholders of $10.8 million for the first quarter of 2016, or $0.15 per share, compared with a net loss attributable to shareholders of $3.3 million, or $0.14 per share, in the first quarter of 2015. The current quarter's net income attributable to shareholders includes $14.5 million, or $0.20 per share, of after-tax mark-to-market ("MTM") gains on the Gold and Silver Notes up to the Exchange Date.
•After adjustments for the after-tax MTM gains and certain other items as set out in a reconciliation in the Company's MD&A, Gran Colombia reported adjusted net income attributable to shareholders of $0.3 million, or $0.00 per share, in the first quarter of 2016 compared with an adjusted net loss of $1.8 million, or $0.08 per share, in the first quarter last year. The improvement in the current quarter's adjusted EBITDA, partially offset by costs associated with completion of the debt restructuring, was largely responsible for the year-over-year improvement in adjusted net income attributable to shareholders.
Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, commenting on the Company's results for the first quarter of 2016, said, "We are making steady progress in the execution of our business plan. The improvement in our adjusted EBITDA, made possible through reductions in our costs and production growth, is enabling us to use our operating cash flow in the short-term to improve our balance sheet by reducing our working capital deficit and, ultimately, is essential for building the cash required to repay our senior debt."
Financial and Operating Summary
A summary of the financial and operating results for the first quarters of 2016 and 2015 follows:
First Quarter
2016 2015
Operating data:
Gold produced (ounces) 31,489 23,973
Gold sold (ounces) 29,686 25,332
Average realized gold price ($/oz sold) $ 1,144 $ 1,193
Total cash costs ($/oz sold) (1) 685 824
All-in sustaining costs ($/oz sold) (1) 790 938
Financial data ($000's, except per share amounts):
Revenue $ 34,470 $ 30,658
Adjusted EBITDA (1) 11,586 7,143
Net income (loss) attributable to shareholders 10,826 (3,315 )
Basic and diluted income (loss) per share 0.15 (0.14 )
Adjusted net income (loss) attributable to shareholders (1) 251 (1,816 )
Basic and diluted adjusted income (loss) per share (1) 0.00 (0.08 )
March 31, December 31,
2016 2015
Balance sheet ($000's):
Cash and cash equivalents $ 3,024 $ 3,004
Senior debt (2) 78,373 100,740
Other debt, including current portion 2,760 3,012
(1) Refer to "Additional Financial Measures" in the Company's MD&A.
(2) Represents carrying amounts which are at a discount to principal amounts. Refer to Company's Interim Financial Statements for additional details regarding the 2018 and 2020 Debentures.
Segovia Operations
First quarter 2016 gold production at Segovia totalled 25,999 ounces, up 8.9% from the fourth quarter of 2015 and up 40.3% from the first quarter a year ago. An increased volume of higher grade material from the contract mining cooperatives enabled the Company to process an average of 730 tpd with head grades averaging 12.9 g/t in the first quarter of 2016, an improvement from 678 tpd at an average head grade of 12.0 g/t in the fourth quarter of 2015 and 500 tpd at head grades averaging 14.1 g/t in the first quarter a year ago. Gran Colombia is continuing with the mine development and mechanization program according to the optimized mine plan developed in 2015 and expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.
The Company's total cash cost results in the first quarter of 2016 saw a continuation of the trend experienced in 2015 as further devaluation of the Colombian peso against the U.S. dollar, increased production volumes reducing fixed costs on a per ounce basis and costs savings all combined to decrease total cash costs at the Segovia Operations to $659 per ounce, 17% lower than reported for the first quarter last year.
Marmato Operations
At the Marmato Underground mine, the Company processed 820 tpd at an average head grade of 2.6 g/t yielding gold production of 5,490 ounces in the first quarter of 2016, down 11.2% from the fourth quarter of 2015 in which it processed 860 tpd at head grades averaging 2.8 g/t and on par with the first quarter a year ago when it processed 813 tpd at head grades averaging 2.6 g/t. The Company expects to produce a total of 24,000 to 28,000 ounces at its Marmato Operations for the full year 2016.
Further devaluation of the Colombian peso also had a positive impact on Marmato's total cash costs per once in the first quarter of 2016 compared with previous quarters and, despite a decline in head grades resulting in lower gold production that contributed to an increase in its total cash costs to $847 per ounce in the current quarter, Marmato's total cash costs per ounce were still 7% better than the first quarter last year.
Outlook
With a total of 43,542 ounces of gold produced through the first four months of 2016, the Company is well on its way towards its annual gold production guidance for 2016 of approximately 120,000 to 138,000 ounces. The results for total cash costs and AISC per ounce for the first quarter of 2016 were also in line with Gran Colombia's expectations. For the full year 2016, Gran Colombia expects its total cash costs to average between $700 and $750 per ounce, which will be influenced by the exchange rate of the Colombian peso relative to the U.S. dollar and by production volumes during the balance of the year. Gran Colombia also anticipates that its average AISC for the full year will be between $850 and $950 per ounce, reflecting an expected increase in the level of capital investment in its Segovia Operations in the second half of 2016.
Since the debt restructuring closed in January 2016, holders of the 2018 Debentures and the 2020 Debentures have elected to convert $2.3 million and $0.7 million, respectively, into a total of 23.5 million common shares, increasing the issued and outstanding common shares to a total of 137,074,520 and reducing the principal amounts of the 2018 Debentures and 2020 Debentures to $68.8 million and $103.3 million, respectively, at May 12, 2016
TORONTO, ON--(Marketwired - May 12, 2016) - Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today the release of its unaudited condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2016. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
First Quarter 2016 Highlights
•On January 20, 2016 (the "Exchange Date"), Gran Colombia completed the comprehensive restructuring of its Senior Secured Gold-Linked Notes due October 2017 (the "Gold Notes") and Senior Unsecured Silver-Linked Notes due August 2018 (the "Silver Notes), bringing it out of default and improving its liquidity as it continues with its mine plan implementation at the Segovia Operations.
•Gran Colombia reported further improvement in its quarterly adjusted EBITDA which amounted to $11.6 million in the first quarter of 2016 compared with $7.1 million in the first quarter last year. Increased production together with the significant reduction in total cash costs and G&A expenses were the primary drivers. See the Company's MD&A for the computation and components of this non-IFRS measure.
•Gran Colombia maintained its cash position at $3.0 million at the end of the first quarter of 2016. Adjusted EBITDA generated in the first quarter of 2016 was deployed to fund interest payments on the Company's senior debt, costs associated with completion of the comprehensive restructuring, capital expenditures and payment plans with local creditors as part of the Company's initiative to reduce its working capital deficit this year.
•Gran Colombia met its expectation for the first quarter of 2016 as gold production totalled 31,489 ounces, up 5% from the fourth quarter of 2015 and up 31% from the first quarter a year ago. With a further 12,053 ounces produced in April, the Company remains on track with its production guidance for 2016 of a total of 120,000 to 138,000 ounces of gold for the year.
• Revenue of $34.5 million in the first quarter of 2016, up 12% over the first quarter last year, primarily reflects the increased gold production this year that contributed to a 17% increase in gold ounces sold, offset partially by the impact of lower gold prices in 2016 that decreased the Gran Colombia's realized gold prices by 4% to an average of $1,144 per ounce for the first quarter of 2016.
•Devaluation of the Colombian peso, the increased gold production reducing fixed costs on a per ounce basis, and cost savings all combined to reduce total cash costs by 17% from a year ago to $685 per ounce in the first quarter of 2016 and bringing all-in sustaining costs ("AISC") down by 16% to $790 per ounce for the first quarter this year. See the Company's MD&A for the computation of these non-IFRS measures.
•Gran Colombia reported net income attributable to shareholders of $10.8 million for the first quarter of 2016, or $0.15 per share, compared with a net loss attributable to shareholders of $3.3 million, or $0.14 per share, in the first quarter of 2015. The current quarter's net income attributable to shareholders includes $14.5 million, or $0.20 per share, of after-tax mark-to-market ("MTM") gains on the Gold and Silver Notes up to the Exchange Date.
•After adjustments for the after-tax MTM gains and certain other items as set out in a reconciliation in the Company's MD&A, Gran Colombia reported adjusted net income attributable to shareholders of $0.3 million, or $0.00 per share, in the first quarter of 2016 compared with an adjusted net loss of $1.8 million, or $0.08 per share, in the first quarter last year. The improvement in the current quarter's adjusted EBITDA, partially offset by costs associated with completion of the debt restructuring, was largely responsible for the year-over-year improvement in adjusted net income attributable to shareholders.
Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, commenting on the Company's results for the first quarter of 2016, said, "We are making steady progress in the execution of our business plan. The improvement in our adjusted EBITDA, made possible through reductions in our costs and production growth, is enabling us to use our operating cash flow in the short-term to improve our balance sheet by reducing our working capital deficit and, ultimately, is essential for building the cash required to repay our senior debt."
Financial and Operating Summary
A summary of the financial and operating results for the first quarters of 2016 and 2015 follows:
First Quarter
2016 2015
Operating data:
Gold produced (ounces) 31,489 23,973
Gold sold (ounces) 29,686 25,332
Average realized gold price ($/oz sold) $ 1,144 $ 1,193
Total cash costs ($/oz sold) (1) 685 824
All-in sustaining costs ($/oz sold) (1) 790 938
Financial data ($000's, except per share amounts):
Revenue $ 34,470 $ 30,658
Adjusted EBITDA (1) 11,586 7,143
Net income (loss) attributable to shareholders 10,826 (3,315 )
Basic and diluted income (loss) per share 0.15 (0.14 )
Adjusted net income (loss) attributable to shareholders (1) 251 (1,816 )
Basic and diluted adjusted income (loss) per share (1) 0.00 (0.08 )
March 31, December 31,
2016 2015
Balance sheet ($000's):
Cash and cash equivalents $ 3,024 $ 3,004
Senior debt (2) 78,373 100,740
Other debt, including current portion 2,760 3,012
(1) Refer to "Additional Financial Measures" in the Company's MD&A.
(2) Represents carrying amounts which are at a discount to principal amounts. Refer to Company's Interim Financial Statements for additional details regarding the 2018 and 2020 Debentures.
Segovia Operations
First quarter 2016 gold production at Segovia totalled 25,999 ounces, up 8.9% from the fourth quarter of 2015 and up 40.3% from the first quarter a year ago. An increased volume of higher grade material from the contract mining cooperatives enabled the Company to process an average of 730 tpd with head grades averaging 12.9 g/t in the first quarter of 2016, an improvement from 678 tpd at an average head grade of 12.0 g/t in the fourth quarter of 2015 and 500 tpd at head grades averaging 14.1 g/t in the first quarter a year ago. Gran Colombia is continuing with the mine development and mechanization program according to the optimized mine plan developed in 2015 and expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.
The Company's total cash cost results in the first quarter of 2016 saw a continuation of the trend experienced in 2015 as further devaluation of the Colombian peso against the U.S. dollar, increased production volumes reducing fixed costs on a per ounce basis and costs savings all combined to decrease total cash costs at the Segovia Operations to $659 per ounce, 17% lower than reported for the first quarter last year.
Marmato Operations
At the Marmato Underground mine, the Company processed 820 tpd at an average head grade of 2.6 g/t yielding gold production of 5,490 ounces in the first quarter of 2016, down 11.2% from the fourth quarter of 2015 in which it processed 860 tpd at head grades averaging 2.8 g/t and on par with the first quarter a year ago when it processed 813 tpd at head grades averaging 2.6 g/t. The Company expects to produce a total of 24,000 to 28,000 ounces at its Marmato Operations for the full year 2016.
Further devaluation of the Colombian peso also had a positive impact on Marmato's total cash costs per once in the first quarter of 2016 compared with previous quarters and, despite a decline in head grades resulting in lower gold production that contributed to an increase in its total cash costs to $847 per ounce in the current quarter, Marmato's total cash costs per ounce were still 7% better than the first quarter last year.
Outlook
With a total of 43,542 ounces of gold produced through the first four months of 2016, the Company is well on its way towards its annual gold production guidance for 2016 of approximately 120,000 to 138,000 ounces. The results for total cash costs and AISC per ounce for the first quarter of 2016 were also in line with Gran Colombia's expectations. For the full year 2016, Gran Colombia expects its total cash costs to average between $700 and $750 per ounce, which will be influenced by the exchange rate of the Colombian peso relative to the U.S. dollar and by production volumes during the balance of the year. Gran Colombia also anticipates that its average AISC for the full year will be between $850 and $950 per ounce, reflecting an expected increase in the level of capital investment in its Segovia Operations in the second half of 2016.
Since the debt restructuring closed in January 2016, holders of the 2018 Debentures and the 2020 Debentures have elected to convert $2.3 million and $0.7 million, respectively, into a total of 23.5 million common shares, increasing the issued and outstanding common shares to a total of 137,074,520 and reducing the principal amounts of the 2018 Debentures and 2020 Debentures to $68.8 million and $103.3 million, respectively, at May 12, 2016
aisc von 790 $ !! unfassbar !! Nur - der Kurs ist wie festgetackert....die Kohle machen die die debentures in den händen halten.
mfG
mfG
Durchsuchen
Gran Colombia Gold
