Gran Colombia Gold reported its Q2-2017 results. Key highlights include:
- Gold production of 46,075 ounces, up 20% from Q2-2016.
- Cash costs of $676/ounce and AISC of $884/ounce.
- Revenue of $56.0 million and adjusted EBITDA of $21.3 million.
- Net income of $36.2 million, up from $0.1 million in Q2-2016.
- Excess cash flow of $3.2 million, which was used to redeem senior debentures.
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ForwardāLookingĀ StatementsĀ DISCLAIMER
This presentation contains "forwardālooking information", which may include, but is not limited to, statements with
respect to the future financial or operating performance of the Company and its projects, and, specifically, statements
concerning anticipated growth in annual gold production, future cash costs and AISC, future G&A and capex, excess
cash flow and sinking funds for the senior debentures and future purchases and/or redemptions of the senior
debentures. Often, but not always, forwardālooking statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or
variations (including negative variations) of such words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved. Forwardālooking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements
of Gran Colombia to be materially different from any future results, performance or achievements expressed or
implied by the forwardālooking statements. Factors that could cause actual results to differ materially from those
anticipated in these forwardālooking statements are described under the caption "Risk Factors" in the Company's
Annual Information Form dated as of March 30, 2017 which is available for view on SEDAR at www.sedar.com.
Forwardālooking statements contained herein are made as of the date of this press release and Gran Colombia
disclaims, other than as required by law, any obligation to update any forwardālooking statements whether as a
result of new information, results, future events, circumstances, or if management's estimates or opinions should
change, or otherwise. There can be no assurance that forwardālooking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forwardālooking statements.
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AugustĀ 15,Ā 2017
RESULTS
Segovia
ļ§ production growImproved head grades in the Companyāoperated mining areas, notably in the Providencia mine,
was the key driver behind the Q2ā2017 th (26%) over Q2ā2016. Produced 12,651 ozs in July 2017.
ļ§ Capital investment and mechanization focused on expanding Companyāoperated mining areas.
Marmato
ļ§ Generally, operations running steady. Produced 2,329 ozs in July 2017.
Production
2nd Quarter 1st Half
2017 2016 2017 2016
Gold (ozs)
Segovia
13,647 7,962 Company-operated 21,547 13,051
26,581 23,922 Contract miners 51,449 44,832
40,228 31,884 72,996 57,883
5,847 6,345 Marmato 12,087 11,835
46,075 38,229 Total Company 85,083 69,718
44,691 43,722 Silver (ozs) 86,370 82,148