Golden Queen Announces Q3 Financial Results

Golden Queen Mining Co. Ltd. (TSX:GQM, OTCQX:GQMNF) announced its financial results for the quarter ended September 30, 2018 at its 50 percent-owned Soledad Mountain gold-silver mine located south of Mojave, California.

Highlights are as follows:

• Gold production of 12,943 ounces
• Silver production of 121,843 ounces
• Average gold and silver grade placed this quarter was 0.025 ounces per ton gold and 0.399 ounces per ton silver
• THIRD QUARTER FINANCIAL HIGHLIGHTS
  • Attributable net loss for the third quarter totaled US$2.4 million, or US$(0.01) loss per share, on a basic and diluted basis
  • Revenue totaled US$16.86 million in the third quarter
  • Gold sold in the third quarter totaled 12,798 ounces at an average realized gold price of US$1,201 per ounce
  • Silver sold in the third quarter totaled 100,408 ounces at an average realized silver price of US$14.77 per ounce
  • Cash balances as at September 30, 2018 totaled US$8.4 million
  • Total cash costs net of by-product credits of US$1,047 per ounce produced for the third quarter
  • All-in sustaining costs of US$1,086 net of by-product credits per ounce produced for the third quarter