Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
Cours Or & Argent

EURO Ressources S.A.

Publié le 04 mai 2016

EURO RESSOURCES REPORTS EARNINGS FOR THE QUARTER ENDED MARCH 31, 2016

( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
0
envoyer
0
commenter
Mots clés associés :   Cash | Euro | Euros | France | Paris | Suriname |

EURO RESSOURCES REPORTS EARNINGS FOR THE QUARTER ENDED MARCH 31, 2016

Microsoft Word - PR 16-03EN 2016 05 04 EURO - News release- 2016 Q1 Results_V2016 05 04c

A Gold Resource Royalty

Company

NEWS RELEASE Paris: EUR

EURO RESSOURCES REPORTS EARNINGS FOR THE QUARTER ENDED MARCH 31, 2016

PARIS, France, May 4, 2016: EURO Ressources S.A. ("EURO" or "the Company") (Paris: EUR) today announced its unaudited financial results prepared in accordance with International Financial Reporting Standards ("IFRS") for the first quarter ended March 31, 2016. These unaudited interim financial results were approved by the Board of Directors on May 4, 2016. All financial amounts are expressed in Euros ("€" or "euros") unless otherwise specified.

Highlights for the first quarter of 2016

Under IFRS, EURO reported a net profit of €4.1 million (€0.066 per share) for the first quarter of 2016 compared to €2.8 million (€0.045 per share) for the first quarter of 2015. The increase was mainly the result of lower income tax expense partially offset by lower revenues from royalties in 2016.

Liquidity and capital resources

Cash at March 31, 2016 totaled €10.2 million compared to €7.5 million at December 31, 2015. All of the cash is unrestricted. EURO expects to have sufficient cash flow to fund its on-going operational needs.

Comments on financial results for the first quarter ended March 31, 2016 from EURO's IFRS Management's Discussion and Analysis

Revenues were €5.7 million during the first quarter of 2016, a decrease of 8% compared to revenues of €6.2 million for the first quarter of 2015. Revenues were mainly attributable to the Rosebel royalty of €5.6 million (first quarter of 2015: €6.1 million). The decrease in revenues was due to lower gold production of 71,723 ounces in the first quarter of 2016 compared to 79,825 ounces in the first quarter of 2015 (€0.6 million), and a lower average gold price in the first quarter of 2016 of US$1,183 per ounce of gold compared to US$1,218 per ounce of gold in the first quarter of 2015 (€0.2 million), partially offset by the weaker euro (€0.3 million). Other royalties were

€0.1 million from third parties in French Guiana during the first quarter of 2016 (first quarter of 2015:

€0.1 million).

During the first quarter of 2016, the Company recorded operating expenses with a credit balance of (€0.015 million) compared to operating expenses of €0.247 million during the same period in 2015. The difference was mainly due to an adjustment of the 2015 administrative costs recorded during the first quarter of 2016 (refer to Related party transactions in the Company's first quarter interim financial statements).

The amortization expense of €0.14 million during the first quarter of 2016 was similar to the amortization expense recorded during the same period in 2015.

EURO recorded a foreign exchange gain of €0.01 million in the first quarter of 2016 compared to a foreign exchange loss of €0.12 million in the first quarter of 2015, mainly due to the revaluation of bank accounts and a greater volatility of the euro compared to the US$ during the first quarter of 2015.

EURO recorded an income tax expense of €1.5 million in the first quarter of 2016 compared to

€2.9 million in the first quarter of 2015. The decrease was mainly due to translation adjustments.

Outlook

In 2016, the Rosebel royalty is expected to provide revenues to the Company of between approximately €21.9 million and €22.6 million (US$24.1 million and US$24.9 million). These pre-tax numbers assume a gold price of US$1,150 per ounce and an exchange rate of €1 for US$1.1. The Rosebel royalty production is anticipated to be between 300,000 and 310,000 ounces in 2016. The impact of changes in the average gold price on EURO's annual revenues, based on an estimated production of 305,000 ounces, would be approximately US$3.0 million for each US$100 per ounce change in the gold price. EURO's cash flow will primarily be affected by income tax payments, since there are no tax losses carried forward to offset any future revenue. EURO expects its cash flow will be adequate to meet all corporate and related expenses.

About EURO

EURO is a French company whose principal asset is a gold production royalty from the Rosebel gold mine in Suriname (the "Rosebel royalty"). The Rosebel gold mine is 95%-owned by IAMGOLD Corporation ("IAMGOLD"), and it is operated by IAMGOLD. EURO has approximately 62.5 million shares outstanding. IAMGOLD France S.A.S., an indirect wholly owned subsidiary of IAMGOLD, owned approximately 89.71% of all issued and outstanding shares of EURO at March 31, 2016.

Statements Regarding Forward-Looking Information: Some statements in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties. There can be no assurance that future developments affecting the Company will be those anticipated by management.

Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in the United States or to a U.S. person absent registration, or an applicable exemption from the registration requirements of the Securities Act.

Additional information relating to EURO Ressources S.A. is available on SEDAR at www.sedar.com. Further requests for information should be addressed to:

Benjamin Little Directeur-Général Tel: +1 416 933 4954

Email: [email protected]

Line Lacroix

Directeur-Général Délégué Tel: +1 450 677 2056

Email : [email protected]

Lire la suite de l'article sur www.publicnow.com
Données et statistiques pour les pays mentionnés : France | Suriname | Tous
Cours de l'or et de l'argent pour les pays mentionnés : France | Suriname | Tous

EURO Ressources S.A.

PRODUCTEUR
CODE : EUR.PA
ISIN : FR0000054678
CUSIP : 054678
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
ProfilIndicateurs
de Marché
VALEUR :
Projets & res.
Communiqués
de Presse
Rapport
annuel
RISQUE :
Profile actifs
Contactez la cie

Euro Ressources est une société de royalties minières d'or basée en France.

Son principal projet en production est ROSEBEL au Suriname et son principal projet en exploration est PAUL ISNARD en Guyane Francaise.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
 
Dans les médias de EURO Ressources S.A.
13/11/2006180% de hausse en 4 séances !
Rapports annuels de EURO Ressources S.A.
2008 Annual report
2007 Annual report
Financements de EURO Ressources S.A.
27/04/2007ANNOUNCES EXTENSION OF CREDIT FACILITY
Rapports Financiers de EURO Ressources S.A.
23/10/2007(Rosebel)ANNOUNCES ROSEBEL ROYALTY FOR THIRD QUARTER
14/05/2007 ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER EN...
02/04/2007 ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED...
Communiqués de Presse de EURO Ressources S.A.
02/06/2016RESULTS OF THE ANNUAL ORDINARY AND EXTRAORDINARY GENERAL MEE...
25/05/2016APPOINTMENT OF THE CHAIRMAN OF THE BOARD OF DIRECTORS AND DE...
04/05/2016EURO RESSOURCES REPORTS EARNINGS FOR THE QUARTER ENDED MARCH...
17/12/2015RESULTS OF IAMGOLD CORPORATION TENDER OFFER
10/11/2015EURO RESSOURCES REPORTS EARNINGS FOR THE NINE MONTHS ENDED S...
15/08/2015EURO RESSOURCES REPORTS EARNINGS FOR THE QUARTER ENDED JUNE ...
12/05/2008Further Liquidation of Gold Hedge
30/09/2007ANNOUNCES COMMENCEMENT OF RIGHTS OFFERING
07/08/2007ANNOUNCES EARNINGS FOR QUARTER AND HALF-YEAR ENDED JUNE 30, ...
23/07/2007ANNOUNCES ROSEBEL ROYALTY FOR 2nd QUARTER 2007
18/06/2007ANNOUNCES AMENDED CANADIAN FILINGS FOR 2006
06/06/2007GOLDEN STAR RESOURCES LTD. INITIATES WORK ON EURO’S PAUL ISN...
10/05/2007ISSUES UPDATE ON PATRICIA MINING CORP. AND PAUL ISNARD
19/03/2007IAMGold Announces Expansion Plans at Rosebel Gold Mine
12/03/2007 Proposed Acquisition of Patricia Mining Corp.
20/02/2007SIGNIFICANT INCREASE IN MINERAL INVENTORY AT ROSEBEL
29/01/2007Work stoppage at Rosebel Mine
22/05/2006Arrêt de suspension des opérations à la mine de Rosebel
Publication de commentaires terminée
 
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
PARIS (EUR.PA)TORONTO (EUR.TO)
3,10+0.00%22,46-0.31%
PARIS
€UR 3,10
13/10 14:33 -
0%
Cours préc. Ouverture
3,10 3,11
Bas haut
3,10 3,11
Année b/h Var. YTD
3,48 -  3,71 -16,44%
52 sem. b/h var. 52 sem.
3,09 -  3,80 -1,59%
Volume var. 1 mois
681 -
24hGold TrendPower© : -41
Produit Gold
Développe
Recherche Gold
 
 
 
Analyse
Interactive chart Add to compare
Graphique
interactif
Imprimer Comparer Exporter
Dernière mise à jour le : 23/11/2010
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
LES PLUS LUS
Variation annuelle
DateVariationMaxiMini
2024-17,11%3,723,48
202327,21%3,802,50
20223,16%3,452,70
2021-7,77%3,512,72
20201,98%3,692,47
 
Graphique 5 ans
 
Graphique 3 mois
 
Graphique volume 3 mois
 
 
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
7,08 AU$+0,50%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
2,20 AU$+0,00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,86 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 +4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
8,91 US$-2,73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,60 GBX+0,67%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,05 CA$+10,00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
2,06 CA$+0,00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
12,67 +0,88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,34 CA$+6,25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,19 AU$+2,70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
1,77 -2,21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
40,37 US$-0,22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,04 AU$+0,00%Trend Power :
Profitez de la hausse des actions aurifères
  • Inscrivez-vous à notre market briefing minier
    hebdomadaire
  • Recevez nos rapports sur les sociétés qui nous semblent
    présenter les meilleurs potentiels
  • Abonnement GRATUIT, aucune sollicitation
  • Offre limitée, inscrivez-vous maintenant !
Accédez directement au site.