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Fiore Gold (FIOGF)

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Last Post: 5/5/2021 9:52:01 AM - Followers: 22 - Board type: Free - Posts Today: 0


Fiore Gold Reports Record Fiscal Q2 Gold Production and Operating Cash Flow

VANCOUVER, BC / ACCESSWIRE / May 21, 2020 / FIORE GOLD LTD. (TSXV:F)(OTCQB:FIOGF)(FSE:2FO) ("Fiore" or the "Company") is pleased to announce that its financial statements and management's discussion and analysis for the second fiscal quarter ("Q2 2020") ended March 31, 2020, have been filed with the securities regulatory authorities and are available at www.sedar.com and on the Company's website at www.fioregold.com.

Fiscal Q2 2020 Highlights

(all figures in U.S. dollars unless otherwise indicated)

Operating & Financial

  • Q2 gold production of 12,085 ounces representing a production record for the Pan Mine and a 38% increase compared to Q1 2020
    Gold sales of 12,026 ounces at an average realized price of $1,576 per ounce, all sales unhedged
    Recorded quarterly revenues of $19.0 million with mine operating income of $5.3 million
    Net income of $2.9 million
    Generated Pan operating cash flow1 of $6.0 million and consolidated operating cash flow of $3.9 million, both records for Fiore Gold
    Closing cash balance of $9.1 million, an increase of $2.6 million relative to our last reported cash balance as of December 31, 2019
    Strengthened balance sheet with net working capital of $28.7 million as of March 31, 2020
    Mined ore production in Q2 of 14,177 tons per day with a stripping ratio of 1.8:1.0 and grade of 0.016 ounces/ton
    Q2 2020 Pan Mine AISC1 per ounce sold of $1,099 and cash costs per ounce sold1 of $983
    Q2 2020 Fiore consolidated AISC1 of $1,196 per ounce sold
    Mining costs of $2.01 per ton mined demonstrate continued operational efficiencies
    73,555 total site man-hours worked in Q2 with one reportable incident and zero lost-time injuries
    Mining declared an essential business in Nevada and the Pan Mine continues to operate with strict protocols in place focused on protecting the health and safety of our employees
    We are pleased to reiterate our 2020 production and cost guidance

Organic Growth

  • Pan drill results released May 12, 2020 continue to expand oxide gold mineralization, with a resource and mine plan update expected in the second half of 2020
    Results of a Preliminary Economic Assessment ("PEA") released on April 9th demonstrating positive economics for the Gold Rock project with opportunities to further enhance value. On May 13, 2020, Fiore Gold filed the related technical report.
    Completed construction of the Pan to Gold Rock access road
    On May 19, 2020, Fiore Gold announced a 2.0 million ounce measured and indicated resource at its Golden Eagle Project in Washington State, USA

Tim Warman, Fiore's CEO commented, "Fiore's achievements in Q2 continue to advance our goal of becoming a multi-asset US gold producer. The Pan Mine set multiple records in profitability and cash flow with production increasing and costs declining quarter on quarter. Pan continues to be our cornerstone asset allowing us to advance the adjacent Gold Rock property without diluting our shareholders. With a strengthened balance sheet, a positive PEA, and the access road constructed, we are now taking the next steps to move Gold Rock toward feasibility. And with the subsequently announced 2 million ounce resource at Golden Eagle, we hope to drive even further shareholder value. We continue to recognize the inherent risk posed by COVID-19. The health and safety of our employees comes first as they are the foundation of our success in Nevada. We have put a range of operating protocols in place to best mitigate the risk to them. We are fortunate that we have no reported cases at site and continue to operate with minimal disruption."

On behalf of FIORE GOLD LTD.

Tim Warman

Chief Executive Officer

Contact Us:


1 (416) 639-1426 Ext. 1


Corporate Strategy

Our corporate strategy is to grow Fiore Gold into a 150,000 ounce per year gold producer. To achieve this, we intend to:

  • grow gold production at the Pan Mine while also growing the reserve and resource base;
    advance exploration and development of the nearby Gold Rock project; and
    acquire additional production or near-production assets to complement our existing operations

Latest interview:    https://youtu.be/xh6ckVEkOd0

Fiore Gold  Investor Presentation

FIORE GOLD CAPITAL        98,047,378
OPTIONS & WARRANTS     31,107,784
FULLY DILUTED                 129,155,162

New message board for Gold Producer FIOGF

see full report TONS OF INFO in this report


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FIOGF News: Fiore Gold reports Q1 results 02/23/2021 05:56:15 PM
#944   You gotta love these crooks, on 200 shrs Mason07 05/05/21 09:52:01 AM
#943   This is the PERFECT buyout candidate, i hope Mason07 04/21/21 11:58:45 AM
#942   Agreed. Seems like all the money is going ashy2classy 04/21/21 11:54:53 AM
#941   Hold Strong, remember this is worth $2.00-2.50 Mason07 04/21/21 10:25:25 AM
#940   The same management / board of directors sold Freddy Burns 04/19/21 09:24:18 AM
#939   Patience is the key, gold and silver are Mason07 04/14/21 06:01:56 PM
#938   I know right!! Holding it back for whatever dawsons creek 04/14/21 11:35:39 AM
#937   Great news. Wonder what it's gonna take to ashy2classy 04/14/21 11:06:34 AM
#936   News!!! FIORE GOLD REPORTS 19% INCREASE IN FISCAL Q2 dawsons creek 04/14/21 07:51:26 AM
#935   Same here. Just odd to have big volume ashy2classy 04/09/21 06:02:08 PM
#934   I think we're OK. It's slow and Freddy Burns 04/09/21 03:29:11 PM
#933   Given the volume and price falling apart throughout ashy2classy 04/08/21 02:59:34 PM
#932   Volume and price increase. FINALLY! Was something released ashy2classy 04/08/21 11:50:43 AM
#931   This is a great update. Overall progress continues ashy2classy 03/30/21 10:25:12 AM
#930   Didn't even see this. Thanks for the post, dc! ashy2classy 03/30/21 10:20:56 AM
#929   Ash, we are holding up well compared to Mason07 03/30/21 10:19:22 AM
#928   Great Results ! Mason07 03/30/21 10:13:14 AM
#927   Fiore has the best management in the business. Freddy Burns 03/30/21 09:55:21 AM
#926   FIORE GOLD DRILLS 45.7 METRES OF 2.01 g/t dawsons creek 03/30/21 08:32:30 AM
#925   What do my people think of the gold dawsons creek 03/30/21 08:16:27 AM
#924   Nice. Don't understand why we're not getting more ashy2classy 03/29/21 03:19:07 PM
#923   This article tells all you need to know Mason07 03/29/21 10:27:55 AM
#922   Agreed! Gold prices holding here and should move up dawsons creek 03/16/21 08:02:31 AM
#921   Retesting that major .92 price level. Sure would ashy2classy 03/15/21 01:57:44 PM
#920   Hope to see a $$ tomorrow if the Mason07 03/10/21 06:24:04 PM
#919   .90/.92 break bring in volume? ashy2classy 03/10/21 03:46:18 PM
#918   Added more. .70s are bonkers cheap. ashy2classy 03/05/21 11:18:59 AM
#917   Thats because i think the Feds system is Mason07 03/04/21 04:13:15 PM
#916   JPOW didn't mention curbing rising yields so more ashy2classy 03/04/21 12:54:37 PM
#915   For sure. I'm plowing a lot of my ashy2classy 03/04/21 12:01:17 PM
#914   All precious metal plays are down, bottoming pattern Mason07 03/04/21 08:05:09 AM
#913   Big bidder filled at .80. See if that ashy2classy 03/03/21 02:10:59 PM
#912   I'm running out of money to add to ashy2classy 03/03/21 11:17:48 AM
#911   Thanks. Mason07 03/03/21 08:12:10 AM
#910   FIORE to present on March 4 ashy2classy 03/02/21 12:01:07 PM
#909   That's Great! Ash if your interested in anything Mason07 03/01/21 03:39:11 PM
#908   Added more at .86 USD. Gimme more! ashy2classy 03/01/21 10:32:17 AM
#907   It's holding up well with this downward move Mason07 02/26/21 11:33:21 PM
#906   Added under .86. These prices are a no-brainer. ashy2classy 02/26/21 11:07:03 AM
#905   He'll yeah. Load shares down here while you can! ashy2classy 02/23/21 06:43:11 PM
#904   Numbers are out! Love that balance sheet, reinvesting dawsons creek 02/23/21 06:10:13 PM
#903   Still think they're trying to get this to ashy2classy 02/18/21 01:02:45 PM
#902   Add. These shares are getting heavy... ashy2classy 02/17/21 09:54:50 AM
#901   New video...let's hope this push has been to ashy2classy 02/16/21 11:21:46 AM
#900   it will happen, you know that you have Mason07 02/12/21 06:17:28 PM
#899   And just like that a buyer or two ashy2classy 02/12/21 12:17:07 PM
#898   Hoping that's the case. Seems like non-stop selling. ashy2classy 02/12/21 11:06:41 AM
#897   Remember, the longer the sideways action the higher Mason07 02/12/21 09:56:03 AM
#896   Seems like they're trying to break the weekly ashy2classy 02/02/21 10:19:56 AM
#895   The one thing we all learned over the Mason07 02/01/21 12:46:10 PM
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