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     131  0 Kommentare Robex Resources Inc. Begins Year in Strength With First Quarterly Financial Results

    QUÉBEC CITY, May 28, 2020 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" or "the Company") (TSXV: RBX/FWB: RB4) is pleased to publish their financial results for the quarter ended March 31, 2020.

    All amounts are in Canadian dollars (CAD).

    Highlights for the first quarter of 2020:

    • 32% INCREASE IN GOLD PRODUCTION
                   
      The gold production totalled 14,918 ounces compared to 11,291 ounces produced during the same period in 2019. The 12% increase in the quantity of processed ore at the Nampala plant (476,720 tonnes vs 424,561 tonnes for the first quarter of 2019), the improvement of the average recovery rate (88.8% vs 85.0% for the same period in 2019) and the higher average grade of processed ore (1.10 gpt compared to 0.95 gpt for the first quarter of 2019) are all favourable factors for this good quarterly production performance.
                   
      The Company is continuing its efforts to optimize its plant in Mali with the objective of reaching a daily production of 5,600 tonnes until the end of 2020. In addition, work is underway to add a crushing circuit to the crusher’s milling circuit.
                   
    • 64% INCREASE IN REVENUE
                   
      During the first quarter of 2020, 14,646 ounces of gold were sold for CAD 30.9 million compared to 10,935 ounces of gold for CAD 18.9 million for the same period in 2019. The quantity produced being greater than the quantity sold is attributable to the time delay between casting and refining gold ingots.
                   
    • SIGNIFICANT INCREASE IN NET INCOME ATTRIBUTABLE TO SHAREHOLDERS FOR THIS QUARTER OF CAD 8.9 MILLION
                   
      The Company achieved net income attributable to shareholders of CAD 9.7 million (CAD 0.017 per share), including CAD 7.4 million in amortization of the book value of fixed assets for this quarter, compared to CAD 0.8 million (CAD 0.001 per share) for the same period in 2019.
                   
    • DECREASE IN THE TOTAL CASH COST1 OF 21%, I.E. CAD 560 PER ONCE SOLD FOR THE FIRST QUARTER OF 2020 COMPARED TO CAD 706 PER ONCE SOLD FOR THE SAME PERIOD IN 2019
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    Robex Resources Inc. Begins Year in Strength With First Quarterly Financial Results QUÉBEC CITY, May 28, 2020 (GLOBE NEWSWIRE) - Robex Resources Inc. ("Robex" or "the Company") (TSXV: RBX/FWB: RB4) is pleased to publish their financial results for the quarter ended March 31, 2020. All amounts are in Canadian dollars (CAD). …