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Scorpio Gold Reports Financial Results for First Quarter of 2019
VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces its financial re
About this update from Scorpio Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces its financial results for the first fiscal quarter (“Q1”) ended March 31, 2019. This press release should be read in conjunction with the Company’s condensed interim consolidated financial statements for the three-months ended March 31, 2019 and Management’s Discussion & Analysis (“MD&A”) for the same period, available on the Company’s website at www.scorpiogold.com and under the Company’s SEDAR profile at www.sedar.com. All monetary amounts are expressed in US dollars unless otherwise specified. On April 15, 2019, the Company completed a 2 for 1 consolidation of its outstanding common shares. All share and per share amounts are shown on a post-consolidated basis retroactively throughout this news release. PERFORMANCE HIGHLIGHTS: Q1 2019 Q1 2018 $ $ Revenue ($000’s) 1,486 3,026 Mine operating earnings ($000’s) 111 1,111 Net earnings ($000’s) 3,425 144 Basic and diluted earnings (loss) per share 0.05 (0.00 ) Adjusted net earnings(1) ($000’s) 100 435 Adjusted basic and diluted net (loss) earnings per share(1) (0.00 ) 0.00 Adjusted EBITDA(1) ($000’s) 259 690 Adjusted basic and diluted EBITDA per share(1) 0.00 0.01 Cash flow (used for) from operating activities ($000’s) (205 ) 828 Total cash cost per ounce of gold sold([1]) 1,129 832 Gold ounces produced 1,216 2,833 Gold ounces sold 1,211 2,300 HIGHLIGHTS FOR THE FIRST QUARTER (“Q1”) ENDED MARCH 31, 2019 AND SUBSEQUENT EVENTS 1,216 ounces of gold were produced at the Mineral Ridge mine, compared to 2,833 ounces produced during Q1 of 2018. Revenue of $1.5 million, compared to $3.0 million during Q1 of 2018. Total cash cost per ounce of gold sold(1) of $1,129, compared to $832 during Q1 of 2018. Mine operating earnings of $0.1 million, compared to $1.1 million during Q1 of 2018. Net earnings of $3.4 million ($0.05 basic and diluted per share), compared to a net loss of $0.1 million ($0.00 basic and diluted per share) during Q1 of 2018. Adjusted net earnings(1) of $0.1 million ($0.00 basic and diluted per share), compared to $0.4 million (...