In Q1, Nordgold made a net profit of $24.6 million and will pay dividends
Edited by Rhod Mackenzie / 2014-05-15 09:27:10
In Q1, Nordgold gained net profit of $24.6 million (+68%), EBITDA of $103.5 million (+6%) and revenue of $274.9 million (-7%). Revenue was reduced due to low sales prices for gold within the period, and due to the decline in production and sales . EBITDA margin was 37.6% in comparison to 33.0% in Q1 2013.
In Q1, Nordgold sold all the precious metals extracted, 40,200 ounces or 1.25 tons (+17%), at average sales price of $1,289 per ounce (-21%). They forecast total production of 870,000 – 920,000 ounces or 27.1 – 28.6 tons in 2014. Last year production was 924,400 ounces or 28.752 tons. In Q4 2013, Nordgold made a net loss of $29.9 million, EBITDA of $100.7 million and revenue of $328.8 million.
Dividends
