Operating loss. The company posted a net loss of $0.10 per share for the period, compared to a loss of $0.04 per share in the year-ago quarter.
Stock momentum builds heading into results. Shares have rallied over the past three months, climbing from $1.08 in mid-November to $1.93 as gold prices strengthened and development milestones came into view.
Development plan. CEO Richard Young said, “We advanced technical and permitting work, as well as exploration and infill drilling programs across our gold projects in the development plan. We also completed the Lone Tree refurbishment study which underpins our hub and spoke processing strategy for our three high-grade underground mines. We are targeting to complete our recapitalization plan by the end of the first quarter, which is expected to fully fund phase one and two of our development plans while also providing flexibility and optionality for both our near-term and longer-term growth plans, at competitive costs.”
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