Superior Gold Produces 17,603 Gold Ounces, Records US$31.2 Million In Revenue For Q1 2021

Superior Gold Inc. (TSXV: SGI) announced today its financial results for Q1 2021, highlighting gold production of 17,603 ounces from its 100%-owned Plutonic Gold operations. This is an 11% increase from Q4 2020, which saw a gold production of 15,838 ounces.

Looking at its financials, the company generated revenue of US$31.2 million this quarter while incurring US$26.9 million in cost of sales. Superior Gold also generated US$3.5 million net income which translates to US$0.03 in earnings per share.

Superior Gold sold 17,538 ounces of gold this quarter, a 4% increase from last year’s gold sales of 16,850 ounces. Total cash cost is at US$1,386 per gold ounce sold and all-in sustaining cost is at US$1,510 per gold ounce sold, both of which are below the realized gold price of US$1,777 per gold ounce. Cash cost and AISC for the quarter are also within the previously announced guidance for 2021 of US$1,350 – US$1,450 and US$1,500 – US$1,600, respectively.

The company ended the quarter with US$4.0 million in cash flow from operations after paying US$2.2 million of its gold loan to Auramet. This led to the company ending Q1 2021 with US$17.9 million in cash and cash equivalents.

The company maintains it is on track with the previously announced full-year 2021 guidance of 65,000 – 75,000 ounces of gold production.

Superior Gold Inc. last traded at $0.77 on the TSX Venture.


Information for this analysis was found via Sedar and Superior Gold Inc. 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.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Rockland Resources: Exploration In Red Lake Set To Begin In Near Term

A newly-listed exploration company recently caught our attention with the acquisition of a promising gold...

Saturday, April 17, 2021, 02:19:00 PM

Gold Soars! Spot Price Of Metal Sets New All Time High Over US$1,930 Per Ounce

Just one session after gold broke the $1,900 level, we have seen new all time...

Sunday, July 26, 2020, 10:53:46 PM

Gold Industry Set For A $160 Billion Cash Haul In 2026!? | Terry Lynch – Power Metallic

In this exclusive interview, Terry Lynch, CEO of Power Metallic (TSXV: PNPN), provides insights into...

Monday, May 19, 2025, 03:54:00 PM

Gold Rush to US Puts Squeeze on Bank of England

The Bank of England faces mounting pressure as unprecedented demands to withdraw gold have stretched...

Thursday, January 30, 2025, 07:30:34 AM

Montage Gold Intersects 301.8 Metres Of 0.60 g/t Gold, Feasibility Study To Be Released This Year

Montage Gold (TSXV: MAU) last night announced the latest infill drilling results for its Kone...

Wednesday, June 23, 2021, 07:42:46 AM