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Fiore Gold (FIOGF)

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Last Post: 11/29/2020 3:05:12 PM - Followers: 23 - 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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#856   Thank you dawsons creek 11/25/20 02:21:00 PM
#855   great results Mason07 11/25/20 11:32:45 AM
#854   News!! Need someone that is smarter than me dawsons creek 11/24/20 07:55:51 AM
#853   OT: This is another Nevada play, one of Mason07 11/08/20 07:58:55 AM
#852   Excellent!!!! FIORE GOLD ACHIEVES FULL YEAR 2020 PRODUCTION GUIDANCE dawsons creek 10/20/20 07:20:55 AM
#851   Yep, number should come in great here! dawsons creek 10/19/20 02:40:53 PM
#850   NIA target $2 ThSeeker 10/19/20 02:37:18 PM
#849   Nice! Me as well dawsons creek 09/23/20 10:45:57 PM
#848   Exactly. Added twice already. Will add a bunch ashy2classy 09/23/20 06:38:18 PM
#847   They are doing some shaking today. Buying opportunity dawsons creek 09/23/20 09:38:59 AM
#846   Very nice, more to come Mason07 09/10/20 10:06:07 AM
#845   52 week high again today!! #FIOGF dawsons creek 09/10/20 09:50:52 AM
#844   New 52 week high, nice! Let’s go FIOGF dawsons creek 08/31/20 09:46:33 AM
#843   Nice summary that there (from NIA) ?.....Beauty. nowwhat2 08/28/20 02:38:10 PM
#842   I have to assume from the article, yes dawsons creek 08/28/20 12:35:37 PM
#841   Would that be Canadian? Mason07 08/28/20 12:22:15 PM
#840   Have you ever pulled for a stock not dawsons creek 08/27/20 09:27:26 AM
#839   https://finance.yahoo.com/news/fiore-gold-reports-fiscal-q3-201500552.html dawsons creek 08/27/20 06:44:10 AM
#838   Amazing quarter from FIORE GOLD NIA's #1 favorite producing dawsons creek 08/27/20 06:43:38 AM
#837   Nice volume today! dawsons creek 08/26/20 11:27:14 AM
#836   slow and steady, stay the course Mason07 08/18/20 07:32:02 PM
#835   Onward & upward to $ 2.00 Mason07 08/17/20 10:09:35 PM
#834   Could be better but at a $ 2,000 Mason07 08/15/20 10:40:19 AM
#833   Not really. Rather meager drill results. They need ThSeeker 08/12/20 10:39:20 AM
#832   TheSeeker, you like?? dawsons creek 08/12/20 09:55:33 AM
#830   Same! dawsons creek 08/11/20 08:50:06 PM
#829   Added back some shares today. Will add more ashy2classy 08/11/20 06:51:35 PM
#828   For sure correction territory cause this thing needs dawsons creek 08/10/20 10:08:11 PM
#827   Yes it is, day traders took it down Mason07 08/10/20 04:49:38 PM
#826   New 52 week high incoming..... dawsons creek 08/06/20 09:56:53 AM
#825   Lol dawsons creek 08/03/20 02:12:09 PM
#824   It's reminding me that Canada is closed for nowwhat2 08/03/20 01:53:17 PM
#823   I’m not a great chart reader. What is dawsons creek 08/03/20 01:41:07 PM
#822   They just took people’s money, dropped it, took dawsons creek 08/03/20 01:40:22 PM
#821   Up gap / Sell-off - What the hey ??? nowwhat2 08/03/20 12:53:00 PM
#820   Canada is closed today, so more room to nkob1974 08/03/20 12:18:01 PM
#819   Looks like a head fake here. They hit dawsons creek 08/03/20 10:39:20 AM
#818   What is going on today? dawsons creek 08/03/20 10:30:52 AM
#817   Love to hear and see that! bigone 07/31/20 05:04:22 PM
#816   Both by the end of the year will Mason07 07/31/20 05:03:13 PM
#815   I like what Fiore has to offer. They bigone 07/31/20 04:55:51 PM
#814   We’ve missed feedback on this one! Page has dawsons creek 07/31/20 11:33:18 AM
#813   Gold and Fiore doing well again today. bigone 07/31/20 11:27:51 AM
#812   It's coming ! Mason07 07/28/20 10:13:30 AM
#811   Gotcha On NAK. We still haven’t gotten that dawsons creek 07/28/20 10:11:33 AM
#810   OT: dawson, i noticed you asked about NAK Mason07 07/28/20 10:02:18 AM
#809   C'mon guys lets get this rolling....https://www.youtube.com/watch?time_continue Mason07 07/27/20 12:15:47 PM
#808   The RSI has settled back in. And we dawsons creek 07/27/20 10:28:29 AM
#807   Let's see if we can get a .20 Mason07 07/27/20 10:00:11 AM
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