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Robex Resources Inc. is Releasing Their Financial Results for the Third Quarter of 2017 and Announces That Their Liabilities Have Decreased by $ 5.4 Million During the Third Quarter of 2017

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Robex Resources Inc. is Releasing Their Financial Results for the Third Quarter of 2017 and Announces That Their Liabilities Have Decreased by $ 5.4 Million During the Third Quarter of 2017

Robex Resources Inc. is Releasing Their Financial Results for the Third Quarter of 2017 and Announces That Their Liabilities Have Decreased by $ 5.4 Million During the Third Quarter of 2017

QUEBEC CITY, QUEBEC--(Marketwired - Nov 22, 2017) - Robex Resources Inc. ("Robex" and / or "the Company") (TSX:RBX)(FRANKFURT:RB4) is pleased to publish their financial and operating results for the quarter that ended September 30, 2017.

These results are very encouraging as the company's liabilities have declined significantly over the last three months and after only nine months of commercial production; the mine has become a very low-costing gold producer.

Unless otherwise indicated, all amounts are in Canadian dollars.

Highlights for the third quarter of 2017

  • Net cash flow related to operating activities1 of $ 5.7 million corresponding to $ 0.010 per share2


  • Decrease in the Company's liabilities of $ 5.4 million during the third quarter of 2017


  • 9,197 ounces of gold sold, for $ 14.8 million


  • The total cash cost2 is of $ 585 per ounce sold and the all-in sustaining cost2 is of $ 784 per ounce sold, steadily decreasing


  • Adjusted net income attributable to shareholders2 is $ 2.8 million corresponding to $ 0.005 per share2

Mining operation: Nampala, Mali

Third quarters

ended September 30,
Nine-month periods

ended September 30,
2017 2016 2017 2016
Operating Data
Ore mined (tonnes) 325,524 172,690 972,299 440,958
Ore processed (tonnes) 404,038 181,834 1,145,956 422,252
Waste mined (tonnes) 307,107 432,189 1,531,361 1,054,377
Operational stripping ratio 0.9 2.5 1.6 2.4
Head grade (g/t) 0.80 0.78 0.84 0.82
Recovery (%) 83.5 % 83.0 % 84.5 % 83.1 %
Gold ounces produced 9,163 3,638 25,898 7,081
Gold ounces sold 9,197 3,755 25,732 7,081
Financial Data
(all amounts below were rounded to the nearest thousand dollars)
Revenues - Gold sales 14,786,000 --- 42,399,000 ---
Mining operation expenses 4,899,000 --- 14,558,000 ---
Change in environmental liabilities 6,000 9,000 17,000 (9,000 )
Mining royalties 479,000 37,000 1,137,000 70,000
Administrative expenses 1,195,000 190 000 3,484,000 528 000
Depreciation of property, plant and equipment
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