Friday, April 28, 2017

Detour Gold Corp. - DGC.t

Detour Gold Corp. - DGC.t is advancing the flagship Detour Lake deposit.

With 16.4 million ounces in reserves, Detour Lake is the second largest gold producing mine in Canada with the largest gold reserves.

On March 22, 2017 the company released News

Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") reports its operational and financial results for the first quarter of 2017. This release should be read in conjunction with the Company's first quarter 2017 Financial Statements and MD&A on the Company's website or on SEDAR. All amounts are in U.S. dollars unless otherwise indicated.
In this news release, the Company uses the following non-IFRS measures: total cash costs, all-in sustaining costs ("AISC"), realized gold price, average realized margin, adjusted net earnings (loss), and adjusted basic net earnings (loss) per share. Refer to the Company's MD&A and at the end of this news release for an explanation and discussion of these non-IFRS measures.
Q1 2017 Highlights
  • Gold production of 131,418 ounces
  • Average mill throughput of 58,114 tpd and mining rate of 242,000 tpd
  • Total cash costs of $788 per ounce sold and AISC of $1,118 per ounce sold
  • Revenues of $163.7 million on gold sales of 134,213 ounces at an average realized price of $1,216 per ounce
  • Earnings from mine operations of $22.2 million
  • Repurchased $20.0 million (face value) of convertible notes
  • Net earnings of $6.0 million ($0.03 per share) and adjusted net earnings of $10.5 million ($0.06 per share)
  • Cash and short-term investments balance of $133.0 million at March 31, 2017
  • Updated life of mine plan for the Detour Lake operation issued on March 22, 2017