Acacia Mining plc Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Production Guidance for the Year 2016
For the six months, gold production of 412,025 ounces against 367,301 ounces a year ago.
For the quarter, the company's revenue was 284,038,000 against $231,887,000 a year ago. Profit before taxation was $73,849,000 against $7,580,000 a year ago. Net earnings were $46,282,000 or 11.3 cents per basic and diluted share against $5,558,000 or 1.4 cents per basic and diluted share a year ago. Adjusted net earnings were $40,659,000 or 9.9 cents per basic and diluted share against $7,244,000 or 1.8 cents per basic and diluted share a year ago. Capital expenditure was $49,142,000 against $46,461,000 a year ago. Net cash generated from operating activities was $104,864,000 against $59,964,000 a year ago.
For the six months, the company's revenue was $504,947,000 against $446,781,000 a year ago. Profit before taxation was $101,616,000 against $24,998,000 a year ago. Net loss attributable to owners of parent was $6,128,000 or 1.5 cents per basic and diluted share against net earnings of $14,765,000 or 3.6 cents per basic and diluted share a year ago. Adjusted net earnings were $58,767,000 or 14.3 cents per basic and diluted share against $18,302,000 or 4.5 cents per basic and diluted share a year ago. Net cash generated from operating activities was $157,096,000 against $107,093,000 a year ago. Purchase of property, plan and equipment was $82,606,000 against $105,469,000 a year ago. Capital expenditure was $85,172,000 against $89,040,000 a year ago.
For the year 2016, the company now expecting to deliver at or above the upper end of the full year production guidance of 750-780,000 ounces, and at the lower end of AISC guidance of $950-980 per ounce.