Credit: Shutterstock photoNew Dawn Mining Corp. (ND.TO) today reported its fiscal 2012 results.
Its net income for 2012 was $2.3 million, compared to $4.29 million for 2011.
EPS was $0.05, versus $0.10 for 2011.
FINANCIAL HIGHLIGHTS
Fiscal Year Ended September 30, 2012
$61.9 million in revenues from gold sales ($56.6 million attributable)
$2.3 million of net income allocable to common shareholders - $0.05 per common share (basic and diluted)
$7.3 million Adjusted EBITDA
37,623 ounces of gold produced (34,397 ounces attributable)
Fiscal 4th Quarter Ended September 30, 2012
$16.5 million in revenues from gold sales ($15.1 million attributable)
$0.5 million net loss allocable to common shareholders - $(0.01) per common share (basic and diluted)
$0.7 million Adjusted EBITDA
10,256 ounces of gold produced (9,370 ounces attributable)
ND said that the continuing cost pressures and certain operational challenges, including the effects of a reassessment of the geological model at the Turk and Angelus Mine and the slower than planned transition from processing low grade tailings sands to accessing higher grade underground mineralised material at Dalny Mine, combined to cause production inefficiencies and resulted in reduced net income for fiscal 2012 as compared to fiscal 2011, as well as a small net loss reported for the quarter ended September 30, 2012.
ND is now trading at 88 cents.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
