Gold and Base Metals miner Aurelia Metals Limited (ASX: AMI) released its Group results for the three-months ended 30 September 2019.
- The quarterly gold production was 29,307 oz at an AISC of $988/oz;
- Mine cash flow contribution was $37 million (excl. corporate costs and growth capital);
- Maiden 2 cps fully franked dividend of $17.4 million (paid on 2 October 2019);
- Investment in growth capital, payments for tax and gold hedging and a buildup in working capital reduced the cash balance by $11 million to $93.1 million;
- Dan Clifford was appointed as MD & CEO (effective from 25 November 2019) and Peter Trout was appointed as COO (effective late November 2019);
- Full year production guidance of 85-95 koz at AISC of $1,050-1,250/oz affirmed.
AMI’s December quarter is likely to be weak, catalysed by lower scheduled grades and construction work related to the Peak plant upgrade. As at 1:08 PM AEST, the stock was trading at $0.45, up by 2.24%.
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