09:29 AM EST, 02/23/2017 (MT Newswires) -- Torex Gold has released its Q4 AND FY 2016 earnings. The company started commercial gold production in April 2016.
The company's fourth-quarter net income was $10.7 million and full-year net income was $3.2 million. Q4 adjusted net earnings were $4.3 million or $0.64 per basic share. FY adjusted net earnings totalled $51.1 million, or $0.65 per share on a basic and $0.64 per share on a diluted basis.
Q4 2016 revenues were $102.3 million, FY revenues were $312.5 million.
FY gold sold totalled 275,613 ounces in 2016 for total proceeds of $347.2 million. Q4 gold sales totalled 83,259 ounces for total proceeds of $102.6 million. The average realized gold price in the fourth quarter of 2016 was $1,232 per ounce.
Gold production totalled 279,937 ounces in 2016, and 80,955 in the fourth quarter of 2016. All-in sustaining costs were $746 per ounce in Q4. Note all amounts above in USD.
Torex shares last traded at $30.50, at the top-end of their 52-week range of $2.35 - $35.17.
Price: 30.50, Change: 0, Percent Change: 0
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