Harte Gold Hits $32.2 Million In Revenue, Produces 15,260 Gold Ounces In Q3 2021

Harte Gold Corp. (TSX: HRT) announced late Monday its operating and financial results for the third quarter ended September 30, 2021. The report highlights a topline revenue figure of $32.2 million, a climb from $26.1 million in the last quarter and $12.2 million for the same comparable period last year.

The mining company also produced a total of 15,260 gold ounces for the quarter, up from 11,283 ounces last quarter and 6,218 ounces last year. On the other hand, the firm sold a total of 14,669 gold ounces with an average realized sales price of US$1,752 per ounce and an all-in sustaining cost of US$1,799 per ounce. These figures compare to Q2 2021’s 11,855 ounces sold with sales price at US$1,798 and AISC at US$2,033.

Further down the financials, net loss for the quarter came in at $3.1 million compared to the net losses of $0.9 million last quarter and $11.8 million last year.

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The firm ended the quarter with $11.4 million cash on hand. Based on its forecast, the firm has relayed that it will require additional financing prior to the end of 2021 in order to continue operations but there’s no assurance yet that this will be obtained.

Related to the current strategic review process it is conducting to focus on ensuring financial liquidity, the company is yet unable to provide an updated 2021 production guidance. However, it believes the current guidance released in May 2021 may not be achieved.

The gold mining firm holds a 100% interest in the Sugar Zone mine located in White River, Canada.

Harte Gold last traded at $0.025 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.