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Osisko Mining Corp. (TSX:OSK) announced yesterday its results for the fourth quarter of 2013, commenting that its net earnings came to $10.5 million, slightly lower than the $12.9 million it recorded in the year-ago quarter.
Osisko Mining Corp. (TSX:OSK) announced yesterday its results for the fourth quarter of 2013, commenting that its net earnings came to $10.5 million, slightly lower than the $12.9 million it recorded in the year-ago quarter. In addition, it achieved record quarterly gold production of 137,321 ounces.
For 2013 as a whole, Osisko put out 475,277 ounces of gold, also a new record for the company.
Other Q4 highlights include:
- Earnings from Canadian Malartic of $53.7 million;
- Operating cash flows of $72.5 million;
- Net earnings of $10.5 million or $0.02 per share;
- Investment of $25.2 million in mining assets and projects;
- Tonnage processed at 4.6 million tonnes (average of 54,043 tonnes per operating day).
Further 2013 highlights include:
- Delivered on capital expenditure reduction program over $96 million less than 2013 budget;
- Enhanced flexibility as a result of amendments concluded with lenders;
- Cash resources now stand at $210.5 million;
- Net debt position of $118.7 million at December 31, 2013.
Click here to read the full Osisko Mining Corp. (TSX:OSK) press release.