Sumatra Copper reports slightly higher Q2 revenue
Friday, July 29 2016 - 12:48 AM WIB
ASX-listed Sumatra Copper & Gold Plc said on Friday that gold and silver revenue from its Tembang gold-silver project in southern Sumatra in the second quarter of this year reached US$7.928 million, thanks to higher silver price.
The company did not provide comparative figure, but previous report in this portal showed revenue from the two commodities in the first quarter of this year totaled $7.833 million.
Sumatra said in a statement that revenue from gold in the second quarter stood at $6.583 million and from silver at 1.345 million.
Average realized sales price of gold during the quarter ending June stood at $1,243/oz and silver at $16.34/oz. In comparison, the average realized sales price for the two commodities in the first quarter respectively was $1,106/oz and $14.92/oz.
?Gold sales of 4,951 oz and silver sales of 82,628 oz were lower than production for the quarter with a corresponding increase in finished metal inventory,? Sumatra said in the statement.
As has been reported earlier, Sumatra said that gold production during the quarter was 6,387 oz and silver production was 91,012 oz (total 7,602 AuEq oz). In comparison, gold production in the first quarter was 5,406 and silver was 121,569 oz for a total of 6,916 AuEq oz.
Sumatra also reported finished product stocks of 2,586 oz of gold and 29,943 oz of silver at quarter end.
Editing by Reiner Simanjuntak