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Scorpio Gold Reports Fourth Quarter and Provides Year-End Financial Results for 2018
VANCOUVER, British Columbia, April 29, 2019 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces its financial
About this update from Scorpio Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, April 29, 2019 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces its financial results for the fourth quarter (“Q4”) and year ended December 31, 2018. This press release should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2018 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. On April 15, 2019, the Company completed a 2 for 1 consolidation of its outstanding share capital. All share and per share amounts are shown on a post-consolidated basis retroactively throughout these financial statements PERFORMANCE HIGHLIGHTS: Q4 2018 Q4 2017 2018 2017 $ $ $ $ Revenue (000’s) 2,095 4,777 9,824 26,993 Mine operating earnings (000’s) 114 144 3,038 2,576 Net (loss) earnings (000’s) (382 ) (1,205 ) 423 (4,224 ) Basic and diluted loss per share (0.01 ) (0.02 ) (0.00 ) (0.06 ) Adjusted net (loss) earnings(1) (000’s) 321 (578 ) 1,467 419 Adjusted basic and diluted net (loss) earnings per share(1) 0.00 (0.01 ) 0.01 (0.00 ) Adjusted EBITDA(1) (000’s) 532 (281 ) 2,403 2,777 Adjusted basic and diluted EBITDA per share(1) 0.00 (0.00 ) 0.02 0.03 Cash flow from (used in) operating activities (000’s) 644 (161 ) 2,498 3,440 Total cash cost per ounce of gold sold(1) 1,159 1,188 883 1,026 Gold ounces produced 1,580 3,709 7,767 19,045 (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 a complete definition and reconciliation to the Company’s financial statements. 2018 HIGHLIGHTS AND SUBSEQUENT EVENTS 7,767 ounces of gold were produced at the Mineral Ridge mine, compared to 19,045 ounces produced during 2017. Revenue of $9.8 million, compared to $27.0 million during 2017. Total cash cost per ounce of g...