St Andrew Goldfields Reports Q4 and Full-Year Results

St Andrew Goldfields Ltd. (TSX:SAS) announced its 2014 fourth quarter and year end results, which show nets losses of C$0.07 million on a per share basis and  C$8.8 million or $0.02 per share, respectively.

As quoted in the press release:

Q4 2014 of $0.07 million or nil, on a per share basis, compared to net loss of $4.4 million, or $0.01 per share, in Q4 2013. Adjusted net earnings (1) for Q4 2014 was $0.1 million, or nil, on a per share basis as compared to an adjusted net loss (1) of $4.7 million or $0.01 share for Q4 2013.

For FY 2014, net loss attributable to shareholders was $8.8 million or $0.02 per share as compared to net loss of $5.0 million or $0.01 per share for FY 2013. The FY 2014 result includes a one-time non-cash impairment loss on the Aquarius Project of $13.1 million.

The report also included the company’s production plan for 2015:

SAS is forecasting 2015 annual production of between 85,000 – 95,000 ounces of gold from Holt and Holloway with similar mine cash cost estimates as in 2014 of between US$750 and US$800 per ounce of gold sold. The Company is also focused on bringing its wholly-owned Taylor Project towards commercial production by the end of 2015. Exploration programs in 2015 will continue to focus on key targets at Holt Deep (Zone 4 Extension),Taylor, Holloway East Complex, the Hislop property, and several near mine targets at Holt and Holloway.

Click here to read the full St Andrew Goldfields Ltd. (TSX:SAS) press release.