Golden Queen Mining Co. Ltd. announced its financial results for Q1 2018 at its Soledad Mountain gold-silver mine located south of Mojave, California.
Golden Queen Mining Co. Ltd. (TSX:GQM) announced its financial results for the quarter ended March 31, 2018 at its Soledad Mountain gold-silver mine located south of Mojave, California.
Highlights are as follows:
- FIRST QUARTER OPERATIONAL HIGHLIGHTS
- gold production of 6,579 ounces
- silver production of 58,024 ounces
- average gold and silver grade placed this quarter was 0.019 ounces per tonne gold and 0.313 ounces per tonne silver
- FIRST QUARTER FINANCIAL HIGHLIGHTS
- Attributable net loss for the first quarter totalled US$5.4 million, or US$0.03 loss per share, on a basic and diluted basis
- Revenue totalled US$9.6 million in the first quarter
- Gold sold in the first quarter totalled 6,529 ounces at an average realized gold price of US$1,330 per ounce
- Silver sold in the first quarter totalled 53,612 ounces at an average realized silver price of US$16.70 per ounce
- Cash balances as at March 31, 2018 totalled $18.2 million
- Total cash costs net of by-product credits of US$2,090 per ounce produced for the first quarter
- All-in sustaining costs of US$2,413 net of by-product credits per ounce produced for the first quarter