Acacia Mining plc Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Impairment charge for the fourth quarter of 2017; Provides Operating Guidance for the full year of 2018
For the full year, the company reported revenue of USD 751,515,000 compared to USD 1,053,532, 000 a year ago. EBITDA was USD 257,180,000 compared to USD 415,388,000 a year ago. Adjusted EBITDA was USD 310,527,000 compared to USD 409,903, 000 a year ago. Net loss was USD 707,394,000 compared to net earnings of USD 94,944,000 a year ago. Basic and diluted loss per share was 172.5 cents against earnings per share of 23.2 cents a year ago. Adjusted net earnings were USD 146,218,000 compared to USD 161,021,000 a year ago. Adjusted net earnings per share were 35.7 cents compared to 39.2 cents a year ago. Cash used in operating activities was USD 22,972,000 compared to Cash generated from operating activities of USD 317,976,000 a year ago. Loss before taxation was USD 709,666,000 compared to profit before taxation of USD 242,057,000 a year ago.
For the quarter, the company reported Impairment charge of USD 850,182,000.
The company expects to see a step-down in production from 2017 levels to 435,000-475,000 ounces at increased all-in sustaining cost of USD 935-985 per ounce.