Claude Reports Record Annual Gold Production for 2015

Claude Resources Inc. (TSX:CRJ,OTCQB:CLGRF) announced that in 2015 its net earnings came in at $32.3 million, or $0.17 per share, after a non-cash deferred income tax recovery of $4.4 million. That’s compared to 2014 net earnings of $4.6 million, or $0.02 per share.
The company also said that in 2015 it achieved record annual gold production of 75,748 ounces, up 20 percent from 2014.
Other highlights include:

• Record safety and environmental performance;
• All-in sustaining cost per ounce of gold sold ⁽¹⁾ of $1,122 (U.S. $878), a 14% decrease from 2014;
• Net earnings of $32.3 million, or $0.17 per share, after a non-cash deferred income tax recovery of $4.4 million;
• Cash and bullion ⁽²⁾ increased by $28.6 million to $39.8 million year over year;
• An 8% increase in Mineral Reserves grade to 7.62 grams of gold per tonne from 7.03 grams of gold per tonne; and
• On March 7, 2016 announced a proposed acquisition by Silver Standard.

Brian Skanderbeg, president and CEO of Claude Resources, commented:

Our success over the last two years is a reflection of the quality of our people, our assets and our ability to remain focused on safe and profitable production growth. I applaud our operations team on their many accomplishments throughout the year and for positioning the Seabee Gold Operation for continued success. With a quality asset base generating free cash flow, significant growth opportunities and a strong financial position, our future looks bright. With the proposed transaction with Silver Standard, our shareholders gain a meaningful ownership in a leading mid-tier precious metals producer. The combination creates a company with a tier-one balance sheet positioned to grow strategically from a diverse portfolio of assets to create long-term value for shareholders.

Click here to read the full Claude Resources Inc. (TSX:CRJ,OTCQB:CLGRF) press release.