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Acacia Mining reports full year 2016 results

2017-02-17 08:08:30  【Print】
BEIJING (Asian Metal) 16 Feb 17 - On February 14, 2017, Acacia Mining plc ("Acacia'') reported the results for the 12 months ended 31 December 2016.Asian Metal Copyright .Asian Metal Copyright In 2016, Acacia delivered record production, reduced all-in sustaining costs by 14% and more than doubled net cash position.Asian Metal Copyright The company expects 2017, driven by the mine life extension at Buzwagi, to see further production growth and cost reductions, with production expected to be between 850,000-900,000 ounces.Asian Metal Copyright The company expects 2017, driven by the mine life extension at Buzwagi, to see further production growth and cost reductions, with production expected to be between 850,000-900,000 ounces.

Financial highlights include:
  • Revenue of US$1,054 million, 21% higher than 2015, due to a 13% increase in gold sales and a 7% higher gold price;
  • EBITDA1 of US$415 million, more than doubled from 2015, mainly due to higher revenues and lower operating costs;
  • Net earnings of US$95 million (US23.Asian Metal Copyright In 2016, Acacia delivered record production, reduced all-in sustaining costs by 14% and more than doubled net cash position.Asian Metal Copyright2 cents per share), with adjusted net earnings1 of US$161 million (US39.2 cents per share), is up from US$7 million in 2015;
  • Operational cash flow of US$318 million, 103% up on 2015, driven primarily by higher EBITDA;
  • Proposed final dividend of US8.Asian Metal Copyright4 cents per share, more than double 2015; Net cash of US$218 million, an increase of 107% during 2016; Cash on hand of US$318 million as at 31 December 2016, an increase of US$85 million during the year.Asian Metal Copyright4 cents per share, total 2016 dividend of US10.4 cents per share, more than double 2015;
  • Net cash of US$218 million, an increase of 107% during 2016;
  • Cash on hand of US$318 million as at 31 December 2016, an increase of US$85 million during the year.
Operational highlights inlcude:
  • Gold production of 829,705 ounces, 13% higher than 2015, with gold sales of 816,743 ounces;
  • Cash costs of US$640 per ounce sold, 17% lower than 2015;
  • North Mara achieved record annual production of 378,443 ounces, 32% higher than that in 2015;
  • Bulyanhulu overcame significant downtime in Q3 2016 and delivered production of 289,432 ounces, 6% higher than 2015;
  • At Buzwagi, gold production of 161,830 ounces was 5% lower than 2015 due to a 14% decrease in grade as a result of ore being primarily sourced from lower grade splay material.

.Asian Metal Copyright4 cents per share, total 2016 dividend of US10.Asian Metal Copyright
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