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Scorpio Gold Reports Financial Results for the Third Quarter of 2018
VANCOUVER, British Columbia, Nov. 28, 2018 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces its financial r
About this update from Scorpio Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 28, 2018 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces its financial results for the third quarter (“Q3”) ended September 30, 2018. This press release should be read in conjunction with the Company’s condensed interim consolidated financial statements for Q3 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 name on SEDAR at www.sedar.com. All monetary amounts are expressed in US dollars unless otherwise specified. PERFORMANCE HIGHLIGHTS: Q3 2018 Q3 2017 Nine Months 2018 Nine Months 2017 $ $ $ $ Revenue (000’s) 2,211 6,042 7,729 22,216 Mine operating earnings (loss) (000’s) 916 (1,088 ) 2,923 2,432 Net (loss) earnings (000’s) 415 (2,774 ) 805 (3,019 ) Basic and diluted (loss) earnings per share 0.00 (0.02 ) (0.00 ) (0.02 ) Adjusted net earnings(loss)(1) (000’s) 420 (928 ) 1,146 997 Adjusted basic and diluted net earnings (loss) per share(1) 0.00 (0.01 ) 0.00 0.00 Adjusted EBITDA(1) (000’s) 644 26 1,872 3,058 Adjusted basic and diluted EBITDA per share(1) 0.00 0.00 0.01 0.02 Cash flow from operating activities (000’s) 662 1,037 1,855 3,601 Total cash cost per ounce of gold sold(1) 721 1,209 804 991 Gold ounces sold 1,825 4,827 6,025 17,954 Gold ounces produced 1,627 4,935 6,187 15,336 (1) This is a non-IFRS measure; refer to Non-IFRS Measures section of this press release and the Company’s Management Discussion & Analysis for Q3 of 2018 for a complete definition and reconciliation to the IFRS results reported in the Company’s financial statements for Q3 of 2018. Highlights for the Third Quarter Ended September 30, 2018 and Subsequent Event: 1,627 ounces of gold were produced at the Mineral Ridge mine during Q3 of 2018, compared to 4,935 ounces during Q3 of 2017. Revenue of $2.2 million, compared to $6.0 million during Q3 of 2017. Total cash cost per ounce of gold sold(1) of $721 compared to $1,209 during Q3 of 2017. Mine operating earnings of $0.9 million compared to a mine operating loss of $1.1 million durin...