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The Company has maintained AISC below US$1,000/oz for the last three consecutive quarters now. Net profit after tax of US$2.8M (Q1 16: loss of US$1.7M). Cash generated from operations of US$4.8M (Q1 16: US$0.2M). Total cash balance of US$5.0M (Q1 16: US$4.3M). Operating cash cost is total cost discounting royalties and capital tax on production assets. Ignacio Salazar, CEO of Orosur, said: We are very pleased to announce a strong quarter with cash operating costs below US$700/oz, AISC below US$1,000/oz, net profit US$2.8M and cash from operations of US$4.8M. The commitment, additional work load and the tough decisions the team has had to assume during the past year has positioned the Company well to take advantage of gold price improvements this year and we are delighted to be seeing the benefits. I believe the financial results speak for themselves, and taken together with the exploration and development progress we reported last week, show this is an exciting time for the Company. That said, we remain as pro-active as ever and are committed to making the most of the current position of the Company for the benefit of our shareholders and team. I very much look forward to the work and results ahead. FY17 Outlook & Guidance The Company’s forecast production guidance for FY17 remains between 35,000 to 40,000 oz of gold at operating cash costs of between US$800 – US$900/oz.
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