Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
St Andrew Goldfields Ltd. Summary (from last analysis -
05/30/2014)
Summary (from last analysis - 05/30/2014)
St. Andrew Goldfields is an undervalued mid tier producer
(my definition) in Ontario, Canada.
Long term (3 to 5 years), this stock is likely a 5 bagger
from its current valuation of $90 million fully diluted.
They are not a low cost producer (about $900 per oz), but
a high gold price should make them very profitable
in the long term.
If you like investing in Canada, this is a good play.
They have 3 producing mines at 80,000 oz per year and
significant exploration potential to increase that total.
Their balance sheet is good with $30 million in cash and
zero debt.
They have a strategy of growing organically and
keeping debt low and cash high.
St Andrew has a very large land package in the high grade
Timmins gold belt.
They have 4 million oz of resources at a good average grade
(3 gpt average, currently producing at 4 gpt).
If they can get production up to 150,000 oz, this stock
should take off. Currently their future reserves are
valued at $25 per oz.
That is low for a producer in Canada.
The stock has crashed since 2011 and currently has
an excellent entry price.
This is my kind of stock: a Canadian producer that is
a likely 5 bagger, and additional exploration potential
to become a 10 bagger.
http://www.goldsilverdata.com/company/448-St-Andrew-Goldfields-Ltd.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101007494
http://www.sasgoldmines.com
email: investor@sasgoldmines.com
SAS: Recent Drilling Confirms the Extension of the 147 Zone Mineralization Onto the Hislop Mine Property -
http://ih.advfn.com/p.php?pid=nmona&article=62509881
Great News - St. Andrew drills 43 m of 2.96 g/t Au at Hislop North -
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSAS-2185650&symbol=SAS®ion=C
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103036908
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102027932
http://www.sasgoldmines.com/s/NewsReleases.asp?ReportID=658125&_Type=News-Releases&_Title=Recent-Drilling-Confirms-the-Extension-of-the-147-Zone-Mineralization-onto-...
http://www.sasgoldmines.com/i/pdf/2014-06-10_NR.pdf
http://www.sasgoldmines.com/i/pdf/Presentation.pdf
http://www.sasgoldmines.com
God Bless
geodan thank you, Gold Soars Seasonally In June -
This chart TA the historical trend of the price of gold,
based on 30 years of data -
the price usually rises until January-February.
The challenge is to catch the June lows -
This chart courtesy Federal Reserve Bank of St. Louis
shows the total amount of debt in the USA
is now 60 trillion dollars.
This cannot possibly be paid off, and it will be inflated away.
Gold and silver will benefit.
"Gold, unlike all other commodities, is a currency...and
the major thrust in the demand for gold is not for jewelry.
It’s not for anything other than an escape from what is perceived
to be a fiat money system, paper money,
that seems to be deteriorating."
-– Alan Greenspan, ex-US Federal Reserve Chairman,
August 23, 2011
Great News - St. Andrew drills 43 m of 2.96 g/t Au at Hislop North -
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSAS-2185650&symbol=SAS®ion=C
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103036908
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102027932
http://www.sasgoldmines.com/s/NewsReleases.asp?ReportID=658125&_Type=News-Releases&_Title=Recent-Drilling-Confirms-the-Extension-of-the-147-Zone-Mineralization-onto-...
http://www.sasgoldmines.com/i/pdf/2014-06-10_NR.pdf
http://www.sasgoldmines.com/i/pdf/Presentation.pdf
http://www.sasgoldmines.com
God Bless
thanks those are great charts
SAS: Recent Drilling Confirms the Extension of the 147 Zone Mineralization Onto the Hislop Mine Property -
http://ih.advfn.com/p.php?pid=nmona&article=62509881
Great News - St. Andrew drills 43 m of 2.96 g/t Au at Hislop North -
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSAS-2185650&symbol=SAS®ion=C
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103036908
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102027932
http://www.sasgoldmines.com/s/NewsReleases.asp?ReportID=658125&_Type=News-Releases&_Title=Recent-Drilling-Confirms-the-Extension-of-the-147-Zone-Mineralization-onto-...
http://www.sasgoldmines.com
http://www.sasgoldmines.com/i/pdf/2014-06-10_NR.pdf
God Bless
I don't believe this stock plays that game.
SAS is just a severely unknown and undervalued stock.
SAS is the Canadian play while $STADF is our US version..
http://investorshub.advfn.com/St-Andrews-Goldfields-STADF-27783/
Best wishes,
Cheers
LOOKED AT THE CHART AND WENT AS HIGH AS $1.50 FROM AROUND .25
I am still adding here like yesterday.. that will be fun to watch when gold turns around
RECORD SHORTING OF PMS: MASSIVELY BULLISH!
JUNE 9, 2014 BY THE DOC 13 COMMENTS
Massive shortsThe precious metals plunged last week, knifing through
key support zones to unleash an explosion of bearish sentiment.
This troubling heavy selling wasn’t news-driven, it emerged out of
the blue.
Who was dumping gold and why? Later data confirmed it was American
futures speculators short selling gold and silver at record levels.
Extreme shorting is very bullish, as these bets soon have to be
covered.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103095048
God Bless
JIM WILLIE BOMBSHELL: CHINA & RUSSIA HAVE ACCUMULATED OVER 40,000 TONS OF GOLD RESERVES FOR USD REPLACEMENT!
JUNE 9, 2014 BY THE DOC 50 COMMENTS
Podcast: Play in new window | Download
willie In the first of two EXPLOSIVE interviews with SD, Hat Trick Letter editor Jim Willie gave some of his BOLDEST & MOST SHOCKING PREDICTIONS EVER for SD listeners:
Willie dissects the Holy Grail Gazprom gas deal, which he states is an OPEN DOOR for the dumping of Treasury bonds in exchange for energy
Russia Liquidating T-bonds through Euroclear in Belgium to acquire gold
Big Surprise Coming for London Boys: Frankfurt to Become Financial Hub For All of Europe & Asia- Willie reveals insider details
Large sovereigns (Russia, China, India, Saudi Arabia) now working together to source massive gold reserves for gold-backed USD replacement
China & Russia Have Accumulated Over 40,000 Tons of Gold Reserves for USD Replacement!!
http://www.silverdoctors.com/jim-willie-bombshell-china-russia-have-accumulated-over-40000-tons-of-gold-reserves-for-usd-replacement/#more-43354
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103036908
God Bless
Gold Market Update - Clive Maund:
June 8, 2014
http://www.clivemaund.com/article.php?art_id=68
http://www.sasgoldmines.com/i/pdf/Presentation-AGM-13May14.pdf
http://www.sasgoldmines.com/s/FinancialStatements.asp?ReportID=653208&_Type=Annual-and-Interim-Reports&_Title=2014-First-Quarter-Results
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101596215
http://www.sasgoldmines.com/s/Home.asp
God Bless
ST. ANDREW GOLDFIELDS (TSX:SAS) reports 2014 first quarter results,
with an eighth consecutive quarter of
positive cash flow from operations -
http://www.sasgoldmines.com/i/pdf/Presentation-AGM-13May14.pdf
http://www.sasgoldmines.com/s/FinancialStatements.asp?ReportID=653208&_Type=Annual-and-Interim-Reports&_Title=2014-First-Quarter-Results
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101596215
http://www.sasgoldmines.com/s/Home.asp
God Bless
SAS reports 2014 first quarter results, with an eighth consecutive quarter of positive cash flow from operations
Date : 05/13/2014 @ 11:00AM
Source : PR Newswire (Canada)
Stock : ST. Andrew Goldfields Ltd. (SAS)
Quote : 0.315 -0.005 (-1.56%) @ 3:16PM
SAS reports 2014 first quarter results, with an eighth consecutive quarter of positive cash flow from operations
Print
Alert
ST Andrew Goldfields (TSX:SAS)
Intraday Stock Chart
Today : Tuesday 13 May 2014
Click Here for more ST Andrew Goldfields Charts.
All dollar amounts are stated in Canadian dollars, unless otherwise indicated
(1) See non-GAAP section for an explanation of these non-GAAP measures
TORONTO, May 13, 2014 /CNW/ - St Andrew Goldfields Ltd. (T-SAS) (OTCQX-STADF), ("SAS" or the "Company") reports a net loss attributable to shareholders for Q1 2014 of $1.8 million, or nil on a per share basis, compared to net income of $1.0 million, or nil per share, for Q1 2013. For Q1 2014, adjusted net loss (1) was $1.9 million, or $0.01 on a per share basis, compared to adjusted net earnings of $1.1 million, or nil per share, for Q1 2013.
Q1 2014 production of 24,361 ounces of gold was in line with the Company's expectation. All-in sustaining cost per ounce of gold sold (1) was US$1,089 per ounce during the quarter. Operations continued to perform well with a total cash cost per ounce of gold sold (1) in the quarter of US$856 per ounce (including royalty costs of US$116 per ounce). Mine cash costs of US$740 per ounce improved by 7%, or US$54 per ounce over Q1 2013, and was below guidance of US$800 - US$850 per ounce.
SAS generated operating cash flow of $9.5 million, or $0.03 per share, and net cash flow (1) of $1.5 million for Q1 2014, as compared to operating cash flow of $13.8 million or $0.04 per share and net cash flow (1) of $3.8 million, in Q1 2013. Both operating cash flow and net cash flow for the quarter continued to be negatively impacted by lower average realized price per ounce of gold sold (1) when compared to the same period last year.
"We are very pleased with our achievements in the first quarter", said Duncan Middlemiss, President & CEO of SAS. "Holt has continued its strong performance, and is now at an increased steady state throughput level for 2014. We remain on track with the development program at Taylor, and the underground exploration program has yielded positive results, which we plan to verify in the fourth quarter with our bulk sampling program."
Q1 2014 Highlights
Produced 24,361 ounces of gold from three operations (Holt, Holloway and Hislop). Gold production remains on track to meet the 2014 guidance of between 75,000 to 85,000 ounces.
Sold 23,500 ounces of gold at an average realized price per ounce of gold sold (1) of US$1,294 for revenues of $33.5 million. Gold sales revenue decreased by $4.7 million when compared to Q1 2013 due to the lower gold price. When compared to Q4 2013, revenues improved by $1.8 million as a result of the higher gold price and strengthening of the US dollar relative to the Canadian dollar.
Mine cash costs of US$740 per ounce and a royalty cost of US$116 per ounce, for a total cash cost per ounce of gold sold (1) of US$856 per ounce. A decrease in total cash cost per ounce of gold sold (1) of US$83 per ounce over Q1 2013 and US$95 per ounce when compared to Q4 2013. Mine cash costs beat the Company's guidance of US$800-US$850 per ounce.
All-in sustaining costs (1) of US$1,089 per ounce of gold sold. All-in sustaining costs decreased by US$191 per ounce when compared to Q1 2013; and US$76 per ounce compared to Q4 2013. The decrease resulted from the lower total cash cost per ounce of gold sold (1) and a disciplined capital expenditure program.
Earned cash margin from mine operations (1) of $11.3 million and operating cash flow of $9.5 million or $0.03 per share (1). Generated net cash flow (1) of $1.5 million during the quarter.
Spent $4.5 million at Taylor as part of the Advanced Exploration Program. Advanced approximately 600 metres of ramp development during the quarter and remain on schedule to reach the area of the second bulk sample towards the end of Q3 2014. Underground diamond drilling continued to return positive results.
Extended US$10.0 million revolving credit facility. Subsequent to the quarter, SAS retired the outstanding US$7.0 million term credit facility; and extended the US$10.0 million revolving credit facility with Scotiabank, for an additional two years.
Q1 2014 Conference Call Information
The Company invites you to participate in the upcoming conference call to discuss its first quarter financial and operating results for 2014. The conference call will take place on Wednesday May 14, 2014 at 10:00am EST.
Participants may join the call via webcast at www.sasgoldmines.com. A playback of the conference call will be available via the website and will be posted within 24 hours of the call. For more information regarding the annual meeting and the conference call please visit the SAS website.
Operating and Financial Summary
Amounts in thousands of Canadian dollars, except per share and per unit amounts Q1 2014 Q1 2013
SAS Operating Results
Gold production (ounces)
Holt Mine 17,497 14,806
Holloway Mine 5,154 5,140
Hislop Mine 1,710 4,515
24,361 24,461
Commercial gold production sold (ounces)
Holt Mine 16,516 13,715
Holloway Mine 5,175 5,126
Hislop Mine 1,809 4,168
23,500 23,009
Per ounce data (US$)
Average realized price (1) $ 1,294 $ 1,632
Mine cash costs $ 740 $ 794
Royalty costs 116 145
Total cash cost (1) $ 856 $ 939
Cash margin (1) $ 438 $ 693
All-in sustaining cost (1) $ 1,089 $ 1,280
SAS Financial Results
Gold sales and total revenue $ 33,481 $ 38,190
Cash margin from mine operations (1) $ 11,275 $ 16,409
Net income (loss) $ (1,806) $ 1,039
Adjusted net earnings (loss) (1) $ (1,863) $ 1,070
Operating cash flow $ 9,468 $ 13,780
Net cash flow (1) $ 1,481 $ 3,791
Per share information:
Basic and diluted income (loss) $ 0.00 0.00
Adjusted net earnings (loss) (1) $ (0.01) 0.00
Operating cash flow (1) $ 0.03 0.04
SAS Financial Position March 31,
2014 December 31,
2013
Cash and cash equivalents $ 31,615 $ 33,690
Working capital $ 12,431 $ 13,846
Total assets $ 210,655 $ 211,070
Total non-current financial liabilities $ 3,070 $ 3,295
Financial Performance
Revenues and net earnings in Q1 2014, declined when compared to Q1 2013, as a result of a US$338 per ounce or 21% decrease in the average realized price per ounce of gold sold (1) , and led to a $5.1 million decrease in cash margin from mine operations (1). Total cash cost per ounce of gold sold (1) declined by US$83 per ounce due to a reduced royalty cost and the strengthening of the US dollar relative to the Canadian dollar.
Net earnings in the quarter were also negatively impacted by a $2.1 million increase in non-cash depreciation and depletion charge due to the depletion of the mineral reserves at the Holloway Mine.
Holt Mine, Operations and Financial Review (see "Operating and Financial Statistics")
During Q1 2014, the Holt Mine ("Holt") produced 17,497 ounces of gold, an increase of 18% over Q1 2013, attributable to a 26% increase in throughput, offset by a 6% decline in ore grade. When compared to Q1 2013, revenue saw a slight increase of 3%, despite a 21% decline in the average realized price per ounce of gold sold (1) as a result of the increase in throughput.
The increase in throughput also contributed to a US$87 per ounce or 11% reduction in total cash cost per ounce of gold sold (1) compared to Q1 2013, in conjunction with a lower royalty cost and a stronger US dollar relative to the Canadian dollar.
In Q1 2014, Holt contributed 96% of the total cash margin from mine operations (1).
Holt is expected to contribute approximately 85% of the Company's total gold production for 2014.
Holloway Mine, Operations and Financial Review (see "Operating and Financial Statistics")
The Holloway Mine ("Holloway") produced 5,154 ounces of gold for Q1 2014, in line with production in Q1 2013. Head grades averaged during the quarter of 4.14 g/t Au, were similar to that achieved in Q1 2013. Mill recoveries during the quarter were in line with expectations at approximately 90%.
Gold sales revenue for the quarter decreased by 14% when compared with Q1 2013, mainly due to the decrease in the average realized price per ounce of gold sold (1).
Total cash cost per ounce of gold sold (1) during the quarter increased marginally when compared to Q1 2013, which was due to increasing unit costs offset by the strengthening of the US dollar relative to the Canadian dollar. Cash margin from mine operations (1) decreased by $1.8 million over Q1 2013 as a result of the decrease in the gold price.
Holloway is expected to contribute approximately 9% of the Company's total gold production for 2014.
Hislop Mine, Operations and Financial Review (see "Operating and Financial Statistics")
The Hislop Mine ("Hislop") produced 1,710 ounces of gold during Q1 2014, with an average head grade of 2.09 g/t Au and mill recoveries of approximately 80%, lower than expected due to the processing of a significant amount of ore containing a fine gold size fraction. The reserves in the West Pit are now depleted; however, the Company will continue to process the ore stockpiles during Q2 2014.
Commercial gold production sold during the quarter decreased by 57% when compared to Q1 2013 as a result of the reduced production. Total cash cost per ounce of gold sold (1) increased by US$215 per ounce over Q1 2013 as mining at the open pit was substantially completed during the quarter.
Hislop is expected to contribute approximately 6% of the Company's total gold production for 2014.
Taylor Project Update ("Taylor")
During Q1 2014, ramp development remained on schedule. Underground drilling targeted the easterly strike extension of the 1004 lens, within the area of the second bulk sample. SAS reported significant grade and widths from hole T220-022, which returned 18.13 g/t Au over 12.4 metres (22.57 g/t Au uncut), including 22.37 g/t Au over 9.9 metres (27.94 g/t Au uncut) and from hole T220-023, which returned 11.50 g/t Au over 4.8 metres (12.49 g/t Au uncut). These results extended 1004 lens mineralization an additional 25 metres to the east.
Subsequent to Q1 2014, additional results continued to intersect good grade and widths as in hole T220-034 which intercepted 8.88 g/t Au over 29.2 metres (6.11 g/t Au cut), hole T220-046 which intercepted 16.62 g/t Au over 19.4 metres (11.95 g/t Au cut), including 24.93 g/t Au over 12.6 metres (17.73 g/t Au cut), and hole T220-049 which intercepted 26.21 g/t Au over 10.3 metres (9.63 g/t Au cut) (see press releases dated March 3 and May 6, 2014, available under the Company's profile on www.sedar.com or on the Company's website at www.sasgoldmines.com).
Drilling continues to demonstrate the potential to expand mineralization on the 1004 resource block at depth, and additional drilling will follow-up on these results. Ramp development and access will continue throughout the second and third quarter of 2014.
Exploration Projects
Exploration activities during Q1 2014 were focused on following up on targets identified during the 2013 exploration program. At Hislop North, surface drilling attempted to identify extensions of the Alphabet Veins from the Romios Property to the west and also to test the southerly strike extension of the 147 and Grey Fox zones from the Primero (formerly Brigus Gold) property onto SAS ground. At the Holt-Holloway Properties, drilling concentrated on the Howey-Cochenour area, situated 3 kilometres south of the Holt shaft.
During Q1 2014, a total of 5,018 metres of surface core drilling were completed. The 2014 field season will concentrate on 2013 generated targets resulting from geochemical sampling, trenching and mapping exercises and were initiated in Q2 2014.
Capital Resources
SAS generated cash flow from operations of $9.5 million in Q1 2014, a decrease of $4.3 million over Q1 2013, mainly due to the decline in gold price.
Working capital as at March 31, 2014, was $12.4 million compared to a working capital of $13.8 million as at December 31, 2013. The slight decrease was primarily due to increased mine site accounts payable requirements. At the end of Q1 2014, the Company had cash and cash equivalents of $31.6 million. The Company's financial position remains strong at the end of the quarter.
For FY 2014, SAS expects to incur a total of $32.0 million in capital expenditures at the two underground mines, the Holt Mill, Taylor and at the Aquarius Project during 2014, of which $8.0 million was spent in Q1 2014.
Credit Facilities
During Q1 2014, the Company repaid US$2.0 million on the term credit facility, reducing the principal owing to US$7.0 million as at March 31, 2014, and retired the term credit facility on May 8, 2014, when it matured.
The Company extended the US$10.0 million Revolving Credit Facility ("Facility"), which remains undrawn, for an additional two years. Interest rates on the Facility range from 2.50% to 3.25% on prime rate based advances and from 3.50% to 4.25% on LIBOR based advances. Depending on the level of the Company's financial strength, standby charges on the facility range from 0.875% to 1.0625% per annum.
Qualified Person
Mine development and production at the Holt, Holloway and Hislop mines, processing at the Holt Mill, and mine development activities at Taylor are being conducted under the supervision of Marc-Andre Pelletier, P.Eng, the Company's General Manager of Mine Operations.
Exploration activities on the Company's various mineral properties, including the drilling program at Taylor is under the supervision of Mr. Doug Cater P. Geo, the Company's Vice-President of Exploration.
Messrs. Pelletier and Cater are qualified persons as defined by NI 43-101, and have reviewed and approved this MD&A.
About SAS
SAS (operating as "SAS Goldmines"), is a gold mining and exploration company with an extensive land package in the Timmins mining district, north-eastern Ontario, which lies within the Abitibi greenstone belt, the most important host of historical gold production in Canada.
SAS owns and operates the Holt, Holloway and Hislop mines and produced approximately 100,000 ounces of gold in 2013. The Company is also advancing the Taylor Project and is conducting aggressive exploration across 120km of land straddling the Porcupine-Destor Fault Zone.
Non-GAAP Measures
The Company has included the following non-GAAP performance measures: adjusted net earnings (loss); total cash cost per ounce of gold sold; all-in sustaining cost per ounce of gold sold; mine-site cost per tonne milled; cash margin from mine operations; average realized price per ounce of gold sold; cash margin per ounce of gold sold; net cash flow; and operating cash flow per share; throughout this news release, which do not have standardized meanings prescribed by International Financial Reporting Standards ("IFRS") and are not necessarily comparable to other similarly titled measures of other companies due to potential inconsistencies in the method of calculation. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors use this information to evaluate the Company's performance. Refer to the non-GAAP section of this news release for a discussion and the reconciliation of these non-GAAP measurements to the Company's Unaudited Condensed Interim Financial Statements for Q1 2014.
The Unaudited Balance Sheets, Statements of Operations and Statements of Cash Flows for the Company for the three months ended March 31, 2014, can be found at the end of this release.
To review the complete Unaudited Condensed Financial Statements for Q1 2014, and the Interim Management's Discussion and Analysis for Q1 2014, please see SAS's SEDAR filings under the Company's profile at www.sedar.com or the Company's website at www.sasgoldmines.com.
The following abbreviations are used to describe the periods under review throughout this release.
Abbreviation Period Abbreviation Period
FY 2014 January 1, 2014 - December 31, 2014 Q3 2013 July 1, 2013 - September 30, 2013
Q4 2014 October 1, 2014 - December 31, 2014 Q2 2013 April 1, 2013 - June 30, 2013
Q3 2014 July 1, 2014 - September 30, 2014 Q1 2013 January 1, 2013 - March 31, 2013
Q2 2014 April 1, 2014 - June 30, 2014 Q4 2012 October 1, 2012 - December 31, 2012
Q1 2014 January 1, 2014 - March 31, 2014 Q3 2012 July 1, 2012 - September 30, 2012
FY 2013 January 1, 2013 - December 31, 2013 Q2 2012 April 1, 2012 - June 30, 2012
Q4 2013 October 1, 2013 - December 31, 2013
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") under applicable securities laws, concerning the Company's business, operations, financial performance, condition and prospects, as well as management's objectives, strategies, beliefs and intentions. Forward-looking information is frequently identified by such words as "may", "will", "plan", "expect", "estimate", "anticipate", "believe", "intend" and similar words referring to future events and results, including the Company's production and cash cost guidance for 2014; the relative production contributions from each of the operations; the level of capital expenditures at Holt, the Holt Mill, Taylor and the Aquarius Project; the continuation of advanced exploration at Taylor including the planned second bulk sample and the timing thereof; and the extent of the exploration programs in 2014. In addition, mineral resources and mineral reserves constitute forward-looking information as they involve the assessment, based on certain estimates and assumptions, that such mineral resources and mineral reserves can be profitably produced in the future.
This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of the mineral reserves and resources; unanticipated operational or technical difficulties which could escalate operating and/or capital costs and reduce anticipated production levels; the Company's dependence on key employees and changes in the availability of qualified personnel; fluctuations in gold prices and exchange rates; insufficient funding or delays or inability to raise additional financing on satisfactory terms if required; operational hazards and risks, including the inability to insure against all risks; changes in laws, regulations and the risks of obtaining necessary licenses and permits; changes in general economic conditions and changes in conditions in the financial markets. Such forward looking information is based on a number of assumptions, including but not limited to the level and volatility of the price of gold, the accuracy of reserve and resource estimates and the assumptions on which such estimates are based, the ability to achieve capital and operating cost estimates, the ability of the Company to retain and attract qualified personnel, the sufficiency of the Company's cash reserves and operating cash flow to complete planned development and exploration activities, the availability of additional financing on acceptable terms if and as required and the level of stability of general business and economic conditions. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information and accordingly, readers are cautioned not to place undue reliance on this forward-looking information. SAS does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws. A description of these risks and uncertainties can also be found in the Company's Annual Information Form obtained on SEDAR at www.sedar.com.
NON-GAAP MEASURES
Adjusted net earnings (loss)
Adjusted net earnings (loss) is a non-GAAP performance measure which does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. As well, it may not be comparable to information in other gold producers' reports and filings. Adjusted net earnings (loss) is calculated by removing the gains and losses, resulting from the mark-to-market revaluation of the Company's gold-linked liabilities and foreign currency derivative contracts, one-time gains or losses on the disposition of non-core assets, periodic adjustments to the Company's asset retirement obligations, and expenses, asset impairment gains or losses and significant tax adjustments not related to current period's earnings, as detailed in the table below. The Company discloses this measure, which is based on its Financial Statements, to assist in the understanding of the Company's operating results and financial position.
Amounts in thousands of Canadian dollars, except per share amounts Q1 2014 Q4 2013 Q1 2013
Net income (loss) per Financial Statements $ (1,806) $ (4,365) $ 1,039
Reversal of unrecognized deferred income tax assets - - (1,256)
Mark-to-market loss (gain) on gold-linked liabilities 456 (594) (191)
Mark-to-market loss on foreign currency derivatives 245 91 1,240
Impairment loss on available-for-sale investments - 67 500
Reversal of provision (777) - -
Tax effect of above items 19 126 (262)
Adjusted net earnings (loss) $ (1,863) $ (4,675) $ 1,070
Weighted average number of shares outstanding (000s)
Basic 368,296 368,296 368,246
Diluted 368,296 368,296 368,801
Adjusted net earnings (loss) per share - basic and diluted $ (0.01) $ (0.01) $ 0.00
Total cash cost per ounce of gold sold
Total cash cost per ounce of gold sold is a non-GAAP performance measure which does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. As well, it may not be comparable to information in other gold producers' reports and filings. The Company has included this non-GAAP performance measure throughout this document as the Company believes that this generally accepted industry performance measure provides a useful indication of the Company's operational performance. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The following table provides a reconciliation of total cash costs per ounce of gold sold to production expenses per the Financial Statements:
Amounts in thousands of Canadian dollars, except where indicated Q1 2014 Q4 2013 Q1 2013
Mine site operating costs per Financial Statements $ 19,189 $ 21,216 $ 18,411
Production royalties per Financial Statements 3,017 2,720 3,370
Total cash costs $ 22,206 $ 23,936 $ 21,781
Divided by gold ounces sold 23,500 23,985 23,009
Total cash cost per ounce of gold sold (Canadian dollars) $ 945 $ 998 $ 947
Average USD:CAD exchange rate $ 1.10 $ 1.05 $ 1.01
Total cash cost per ounce of gold sold (US$) $ 856 $ 951 $ 939
All-in sustaining cost per ounce of gold sold
All-in sustaining cost per ounce of gold sold is a non-GAAP performance measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. As well, it may not be comparable to information in other gold producers' reports and filings. The Company has included this non-GAAP performance measure throughout this document as the Company believes that this generally accepted industry performance measure provides a useful indication of the Company's operational performance. All-in sustaining costs include mine-site operating costs and production royalties incurred at the Company's mining operations, sustaining capital expenditures (which the Company defines as any capital expenditures that are reinvested into the business to maintain the current level of operations), corporate administration expense, mine-site exploration costs, and reclamation cost accretion. The Company believes that this measure represents the total costs of producing gold from current operations, and provides the Company and other stakeholders with additional information that illustrates the Company's operational performance and ability to generate cash flow. This cost measure is reported on a consolidated level and on a per-ounce of gold sold basis in accordance with the guidelines published by the World Gold Council. As the measure seeks to reflect the full cost of gold production from current operations, new project capital is not included. Certain other cash expenditures, including tax payments and financing costs are also not included.
Amounts in thousands of Canadian dollars, except where indicated Q1 2014 Q4 2013 Q1 2013
Mine site operating costs per Financial Statements $ 19,189 $ 21,216 $ 18,411
Production royalties per Financial Statements 3,017 2,720 3,370
Add (less):
Sustaining mine capital 4,349 3,255 4,210
Mine site exploration 227 335 1,362
Mine reclamation obligation 104 98 99
Corporate administration 1,362 1,703 2,265
All-in sustaining costs $ 28,248 $ 29,327 $ 29,717
Divided by gold ounces sold 23,500 23,985 23,009
All-in sustaining cost per ounce of gold sold (Canadian dollars) $ 1,202 $ 1,223 $ 1,292
Average USD:CAD exchange rate $ 1.10 $ 1.05 $ 1.01
All-in sustaining cost per ounce of gold sold (US$) $ 1,089 $ 1,165 $ 1,280
Mine-site cost per tonne milled
Mine-site cost per tonne milled is a non-GAAP performance measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. As well, it may not be comparable to information in other gold producers' reports and filings. As illustrated in the table below, this measure is calculated by adjusting Production Costs, as shown in the statements of operations for inventory level changes and then dividing by tonnes processed through the mill. Since total cash cost per ounce of gold sold data can be affected by fluctuations in foreign currency exchange rates, Management believes that mine-site cost per tonne milled provides additional information regarding the performance of mining operations and allows Management to monitor operating costs on a more consistent basis as the per tonne milled measure reduces the cost variability associated with varying production levels. Management also uses this measure to determine the economic viability of mining blocks. As each mining block is evaluated based on the net realizable value of each tonne mined, the estimated revenue on a per tonne basis must be in excess of the mine-site cost per tonne milled in order to be economically viable. Management is aware that this per tonne milled measure is impacted by fluctuations in throughput and thus uses this evaluation tool in conjunction with production costs prepared in accordance with IFRS. This measure supplements production cost information prepared in accordance with IFRS and allows investors to distinguish between changes in production costs resulting from changes in production versus changes in operating performance.
Amounts in thousands of Canadian dollars, except per tonne amounts Q1 2014 Q4 2013 Q1 2013
Holt Mine
Mine-site costs $ 10,304 $ 9,196 $ 8,563
Inventory adjustments (1) 600 85 1,017
Mine site operating costs $ 10,904 $ 9,281 $ 9,580
Divided by tonnes of ore milled 113,279 81,791 89,985
Mine-site cost per tonne milled $ 96 $ 114 $ 106
Holloway Mine
Mine-site costs $ 6,181 $ 5,580 $ 5,059
Inventory adjustments (1) 374 254 320
Mine site operating costs $ 6,555 $ 5,834 $ 5,379
Divided by tonnes of ore milled 42,981 47,960 43,252
Mine-site cost per tonne milled $ 153 $ 122 $ 124
Hislop Mine
Mine-site costs $ 2,704 $ 6,440 $ 4,788
Inventory adjustments (1) 56 391 537
Mine site operating costs $ 2,760 $ 6,831 $ 5,325
Divided by tonnes of ore milled 31,999 98,293 79,771
Mine-site cost per tonne milled $ 86 $ 69 $ 67
Notes:
(1) Inventory adjustment reflects production costs associated with unsold bullion and in-circuit inventory.
Cash margin from mine operations
Cash margin from mine operations is a non-GAAP measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. As well, it may not be comparable to information in other gold producers' reports and filings. It is calculated as the difference between gold sales and production costs (comprised of mine-site operating costs and production royalties) per the Company's Financial Statements. The Company believes it illustrates the performance of the Company's operating mines and enables investors to better understand the Company's performance in comparison to other gold producers who present results on a similar basis.
Amounts in thousands of Canadian dollars Q1 2014 Q4 2013 Q1 2013
Gold sales per Financial Statements [A] $ 33,481 $ 31,707 $ 38,190
Mine site operating costs per Financial Statements 19,189 21,216 18,411
Production royalties per Financial Statements 3,017 2,720 3,370
[B] 22,206 23,936 21,781
Cash margin from mine operations [A] - [B] $ 11,275 $ 7,771 $ 16,409
Breakdown of cash margin from mine operations by mines:
Holt Mine $ 10,819 $ 6,915 $ 11,887
Holloway Mine 589 562 2,391
Hislop Mine (133) 294 2,131
$ 11,275 $ 7,771 $ 16,409
Average realized price per ounce of gold sold
Average realized price per ounce of gold sold is a non-GAAP measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. Average realized price per ounce of gold sold is calculated by dividing gold sales proceeds received by the Company for the relevant period by the ounces of gold sold. It may not be comparable to information in other gold producers' reports and filings.
Amounts in thousands of Canadian dollars, except where indicated Q1 2014 Q4 2013 Q1 2013
Gold sales per Financial Statements $ 33,481 $ 31,707 $ 38,190
Foreign exchange gain realized on the settlement of gold sales (94) (186) (9)
Loss on foreign currency derivative cash flow hedges realized 229 244 (253)
$ 33,616 $ 31,765 $ 37,928
Average USD:CAD exchange rate 1.10 1.05 1.01
Gold sales recorded in US$ $ 30,406 $ 30,193 $ 37,546
Divided by gold ounces sold 23,500 23,985 23,009
Average realized price per ounce of gold sold (US$) $ 1,294 $ 1,259 $ 1,632
Cash margin per ounce of gold sold
Cash margin per ounce of gold sold is a non-GAAP measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. Cash margin per ounce of gold sold is calculated by subtracting the total cash cost per ounce of gold sold from the average realized price per ounce of gold sold. It may not be comparable to information in other gold producers' reports and filings.
Amounts in United States dollars Q1 2014 Q4 2013 Q1 2013
Per ounce of gold sold:
Average realized price per ounce of gold sold [A] $ 1,294 $ 1,259 $ 1,632
Total cash cost per ounce of gold sold [B] 856 951 939
Cash margin per ounce of gold sold [A] - [B] $ 438 $ 308 $ 693
Net cash flow
Net cash flow is a non-GAAP measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. Net cash flow is calculated by taking cash flow from operating activities less cash used in investing activities as reported in the Company's Financial Statements. It may not be comparable to information in other gold producers' reports and filings.
Amounts in thousands of Canadian dollars Q1 2014 Q4 2013 Q1 2013
Cash flow from operating activities per Financial Statements $ 9,468 $ 6,903 $ 13,780
Less:
Cash used in investing activities per Financial Statements 7,987 4,128 9,989
$ 1,481 $ 2,775 $ 3,791
Operating cash flow per share
Operating cash flow per share is a non-GAAP measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. Operating cash flow per share is calculated by dividing cash flow from operating activities in the Company's Financial Statements by the weighted average number of shares outstanding for each period. It may not be comparable to information in other gold producers' reports and filings.
Amounts in thousands of Canadian dollars, except per share amounts Q1 2014 Q4 2013 Q1 2013
Cash flow from operating activities per Financial Statements $ 9,468 $ 6,903 $ 13,780
Weighted average number of shares outstanding (000s) 368,296 368,296 368,246
Operating cash flow per share $ 0.03 $ 0.02 $ 0.04
Operating and Financial Statistics - Holt Mine
Amounts in thousands of Canadian dollars, except per unit amounts Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012
Tonnes milled 113,279 81,791 104,800 93,081 89,985 89,901 80,219 78,429
Head grade (g/t Au) 5.08 5.42 5.25 4.83 5.40 5.51 5.40 4.71
Average mill recovery 94.6% 95.2% 95.0% 94.9% 94.8% 94.7% 94.4% 94.2%
Gold produced (ounces) 17,497 13,579 16,807 13,706 14,806 15,082 13,145 11,193
Commercial gold production sold (ounces) 16,516 13,775 16,381 14,230 13,715 15,043 12,373 11,073
Gold sales revenue $ 23,541 $ 18,239 $ 22,417 $ 20,865 $ 22,750 $ 25,584 $ 20,000 $ 18,250
Cash margin from mine operations (1) $ 10,819 $ 6,915 $ 10,677 $ 9,341 $ 11,887 $ 14,538 $ 9,250 $ 8,886
Mine-site cost per tonne milled (1) $ 96 $ 114 $ 90 $ 95 $ 106 $ 93 $ 112 $ 96
Total cash cost per ounce of gold sold (US dollars) (1)
Mine cash costs $ 565 $ 636 $ 548 $ 636 $ 619 $ 573 $ 708 $ 671
Royalty costs 133 147 143 155 166 168 165 166
Total cash cost per ounce of gold sold $ 698 $ 783 $ 691 $ 791 $ 785 $ 741 $ 873 $ 837
Capital expenditures $ 4,072 $ 2,991 $ 3,104 $ 3,487 $ 3,383 $ 4,536 $ 4,990 $ 5,036
Depreciation and depletion expense $ 2,793 $ 2,602 $ 2,338 $ 2,667 $ 2,709 $ 2,979 $ 2,293 $ 1,804
Notes:
(1) Total cash cost per ounce of gold sold, mine-site cost per tonne milled and cash margin from mine operations are non-GAAP measures which do not have standardized meanings as prescribed by IFRS and are not necessarily comparable to similarly titled measures of other companies due to potential inconsistencies in the method of calculation (see non-GAAP section for an explanation and reconciliation of non-GAAP measurements).
Operating and Financial Statistics - Holloway Mine
Amounts in thousands of Canadian dollars, except per unit amounts Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012
Tonnes milled 42,981 47,960 40,152 45,642 43,252 46,606 44,546 53,169
Head grade (g/t Au) 4.14 4.13 4.02 4.32 4.04 3.90 4.15 3.80
Average mill recovery 90.1% 88.9% 89.7% 92.6% 91.5% 89.7% 91.0% 91.2%
Gold produced (ounces) 5,154 5,654 4,662 5,874 5,140 5,240 5,408 5,923
Commercial gold production sold (ounces) 5,175 5,105 5,741 5,175 5,126 4,981 5,749 5,744
Gold sales revenue $ 7,369 $ 6,734 $ 7,831 $ 7,568 $ 8,521 $ 8,473 9,267 $ 9,467
Cash margin from mine operations (1) $ 589 $ 562 $ 1,561 $ 1,795 $ 2,391 $ 3,262 $ 3,835 $ 3,805
Mine-site cost per tonne milled (1) $ 153 $ 122 $ 131 $ 113 $ 124 $ 94 $ 92 $ 82
Total cash cost per ounce of gold sold (US dollars)(1)
Mine cash costs $ 1,082 $ 1,041 938 $ 947 $ 977 $ 834 $ 746 $ 771
Royalty costs 105 111 114 143 209 221 204 205
Total cash cost per ounce of gold sold $ 1,187 $ 1,152 $ 1,052 $ 1,090 $ 1,186 $ 1,055 $ 950 $ 976
Capital expenditures $ 250 $ 130 $ 816 $ 1,189 $ 912 $ 1,443 $ 1,794 $ 2,539
Depreciation and depletion expense $ 7,325 $ 4,848 $ 4,843 $ 2,149 $ 2,144 $ 1,970 $ 2,346 $ 2,181
Notes:
(1) Total cash cost per ounce of gold sold, mine-site cost per tonne milled and cash margin from mine operations, are non-GAAP measures which do not have standardized meanings as prescribed by IFRS and are not necessarily comparable to similarly titled measures of other companies due to potential inconsistencies in the method of calculation (see non-GAAP section hereof for an explanation and reconciliation of non-GAAP measurements).
Operating and Financial Statistics - Hislop Mine
Amounts in thousands of Canadian dollars, except per unit amounts Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012
Overburden stripped (m3) - 19,646 43,094 64,807 - - (32,205) 29,236
Tonnes mined (ore) 51,120 35,540 92,378 105,900 82,361 101,617 99,287 76,764
(waste) 218,712 377,627 389,978 312,705 267,906 453,629 513,988 536,015
269,832 413,167 482,356 418,605 350,267 555,246 613,275 612,779
Waste-to-Ore Ratio 4.3 10.6 4.2 3.0 3.3 4.5 5.2 7.0
Tonnes milled 31,999 98,293 66,940 88,093 79,771 95,516 102,191 97,183
Head grade (g/t Au) 2.09 1.96 2.27 2.43 2.14 2.22 2.53 2.21
Average mill recovery 79.4% 81.6% 81.0% 84.0% 82.1% 80.8% 86.5% 85.6%
Gold produced (ounces) 1,710 5,068 3,965 5,773 4,515 5,507 7,189 5,899
Commercial gold production sold (ounces) 1,809 5,105 4,478 5,655 4,168 6,026 7,075 5,678
Gold sales revenue $ 2,571 $ 6,734 $ 6,115 $ 8,290 $ 6,919 $ 10,275 $ 11,423 $ 9,356
Cash margin from mine operations (1) $ (133) $ 294 $ 1,143 $ 2,579 $ 2,131 $ 3,700 $ 5,165 $ 3,505
Mine-site cost per tonne milled (1) $ 86 $ 69 $ 67 $ 64 $ 67 $ 65 $ 62 $ 61
Total cash cost per ounce of gold sold (1)(2) $ 1,354 $ 1,202 $ 1,070 $ 987 $ 1,139 $ 1,100 $ 889 $ 1,020
Capital expenditures $ - $ - $ 20 $ - $ - $ (39) $ 390 $ 970
Depreciation and depletion expense $ 75 $ 2,186 $ 2,364 $ 4,252 $ 3,224 $ 1,981 $ 1,644 $ 1,363
Notes:
(1) Total cash cost per ounce of gold sold, mine-site cost per tonne milled and cash margin from mine operations are non-GAAP measures which do not have standardized meanings as prescribed by IFRS and are not necessarily comparable to similarly titled measures of other companies due to potential inconsistencies in the method of calculation (see non-GAAP section hereof for an explanation and reconciliation of non-GAAP measurements).
(2) Hislop is subject to a 4% net smelter return royalty, which includes a minimum Advance royalty payment obligation (see "Gold-linked Liabilities" in the Company's Q1 2014 MD&A).
Statements of Operations (unaudited)
St Andrew Goldfields Ltd.
Expressed in thousands of Canadian dollars except per share information
Three months ended March 31,
2014 2013
Gold sales $ 33,481 $ 38,190
Operating costs and expenses:
Mine site operating 19,189 18,411
Production royalty 3,017 3,370
Site maintenance 42 121
Exploration 1,165 2,511
Corporate administration 1,362 2,265
Depreciation and depletion 10,420 8,284
35,195 34,962
Operating income (loss) (1,714) 3,228
Finance costs 548 504
Mark-to-market (gain) loss on gold-linked liabilities 456 (191)
Mark-to-market loss on foreign currency derivatives 245 1,240
Foreign exchange loss 783 4
Impairment loss on available-for-sale investments - 500
Finance income and other (870) (77)
1,162 1,980
Income (loss) before taxes (2,876) 1,248
Net deferred tax expense (recovery) (1,070) 209
Net income (loss) attributable to shareholders $ (1,806) $ 1,039
Other comprehensive income (loss)
Unrealized gain (loss) on available-for-sale investments (nil tax effect) 138 (95)
Reclassification adjustment for impairment loss on available-for-sale investments (nil tax effect) - 500
Unrealized loss on derivatives designated as cash flow hedges, net of tax $8 (2013 - $154) (22) (463)
116 (58)
Comprehensive income (loss) for the period $ (1,690) $ 981
Basic and diluted income (loss) per share $ 0.00 $ 0.00
Weighted average number of shares outstanding (000's)
Basic 368,296 368,246
Diluted 368,296 368,801
Statements of Cash Flows (unaudited)
St Andrew Goldfields Ltd.
Expressed in thousands of Canadian dollars
Three months ended March 31,
2014 2013
Operating activities:
Net Income (loss) for the period $ (1,806) $ 1,039
Items not affecting cash:
Net deferred tax expense (recovery) (1,070) 209
Mark-to-market loss (gain) on gold-linked liabilities 456 (191)
Non-cash interest 419 366
Mark-to-market loss on foreign currency derivatives 245 1,240
Depreciation and depletion 10,420 8,284
Reversal of provision (777) -
Impairment loss on available-for-sale investments - 500
Share-based payments 44 323
Net change in non-cash operating working capital and other 1,640 2,136
Interest paid (103) (126)
Cash provided by operating activities 9,468 13,780
Investing activities:
Additions to exploration and evaluation assets (4,364) (4,010)
Mine development expenditures (2,610) (2,987)
Additions to plant and equipment (1,892) (2,233)
Amounts payable on capital additions 895 (416)
Reclamation costs and other (16) (343)
Cash used in investing activities (7,987) (9,989)
Financing activities:
Advance royalty payments (419) (508)
Capital lease payments (260) (77)
Repayment of term credit facility (2,239) (2,032)
Cash used in financing activities (2,918) (2,617)
Effects of exchange rate changes on cash and cash equivalents (638) 273
Increase (decrease) in cash and cash equivalents (2,075) 1,447
Cash and cash equivalents, beginning of period 33,690 30,656
Cash and cash equivalents, end of period $ 31,615 $ 32,103
Balance Sheets (unaudited)
St Andrew Goldfields Ltd.
Expressed in thousands of Canadian dollars
March 31, 2014 December 31, 2013
Assets
Current assets:
Cash and cash equivalents $ 31,615 $ 33,690
Accounts receivable 993 951
Inventories 10,477 8,638
Prepayments and other assets 266 193
43,351 43,472
Exploration and evaluation assets 42,755 38,390
Producing properties 44,646 49,751
Plant and equipment 48,425 49,025
Reclamation deposits 8,389 8,373
Restricted cash 1,695 1,695
Deferred tax assets 21,117 20,228
Other assets 277 136
$ 210,655 $ 211,070
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable and other liabilities $ 12,788 $ 9,793
Employee-related liabilities 5,268 5,241
Royalties payable 1,202 956
Provisions - 777
Derivative liabilities 1,381 1,105
Current portion of long-term debt 10,281 11,754
30,920 29,626
Long-term debt 3,070 3,295
Asset retirement obligations 12,182 12,023
Deferred tax liabilities 2,141 2,330
48,313 47,274
Shareholders' equity:
Share capital 98,575 98,575
Contributed surplus 20,413 20,317
Stock options 4,407 4,267
Retained earnings 38,972 40,778
Accumulated other comprehensive loss (25) (141)
162,342 163,796
$ 210,655 $ 211,070
SOURCE St Andrew Goldfields Ltd.
SAS reports additional significant grade and width intercepts from
underground drilling at the Taylor Advanced Exploration Project
Photo_Asset_1
May 06, 2014
Drilling returns:
16.62 g/t Au over 19.4 m (11.95 g/t Au cut),
including 24.93 g/t Au over 12.6 m (17.73 g/t Au cut) and
26.21 g/t Au over 10.3 m (9.63 g/t Au cut)
TORONTO, May 6, 2014 /CNW/ -
St Andrew Goldfields Ltd.
(TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") is pleased to
provide an update on the recent underground drilling program on
the 1004 lens of the West Porphyry Zone ("WPZ") at its Taylor
Project ("Taylor"), located on the western portion of the
Company's land package in the Timmins mining district, north-
eastern Ontario, Canada.
HIGHLIGHTS OF TAYLOR DRILLING RESULTS
T220-034:
8.88 g/t Au over 29.2 metres (6.11 g/t Au cut),
T220-046
16.62 g/t Au over 19.4 metres (11.95 g/t Au cut)
including 24.93 g/t Au over 12.6 metres (17.73 g/t Au cut)
T220-049:
26.21 g/t Au over 10.3 metres (9.63 g/t Au cut),
Notes: All lengths are reported as core lengths.
True widths are expected to range from 85-95% of the core length;
all assays cut to 30.00 g/t Au.
"These recent results from the definition drill program further
solidify our confidence in this project,"
said Duncan Middlemiss, President & CEO of SAS.
"With the addition of a second underground drill, we will be able
to increase our drill density and use this additional information
to update the resource model for the 1004 lens prior to extracting
the bulk sample.
Ramp development is progressing as planned and we remain on
schedule for our bulk sample in Q4."
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122571
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101457154
St.Andrew Goldfields produced ~100,000 ounces of gold for 2013.
Video Interview with Duncan Middlemiss, President & CEO of St Andrew Goldfields -
SAS provides update on the Taylor underground drill program -
Drilling returns:
22.57 g/t Au over 12.4 m (18.13 g/t Au cut) and
12.49 g/t Au over 4.80 m (11.50 g/t Au cut)
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122569
SAS Provides Notice of Annual Meeting of Shareholders and 2014 First Quarter Earnings Release and Conference Call
http://ih.advfn.com/p.php?pid=nmona&article=62043788
goforthebet thanks for info
St Andrew Goldfields, Now Producing 100k Ounces of Gold, CEO Clip Video -
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2014) -
Duncan Middlemiss, President & CEO of St Andrew Goldfields (TSX:
SAS) (OTCQX: STADF) describes this Junior Gold producer in
Northeastern Ontario with three projects along
the Abitibi Greenstone Belt.
Video Interview with Duncan Middlemiss, President & CEO of St Andrew Goldfields -
Sage Gold Amends Purchase Agreement With St Andrew Goldfields Ltd. on Clavos Property
Date : 05/01/2014 @ 5:00AM
http://ih.advfn.com/p.php?pid=nmona&article=62038328
SAS Provides Notice of Annual Meeting of Shareholders and 2014 First Quarter Earnings Release and Conference Call
Date : 05/01/2014 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=62043788
Bob, Great video, very well done. Thanks for posting
St Andrew Goldfields, Now Producing 100k Ounces of Gold, CEO Clip Video
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2014) -
Duncan Middlemiss, President & CEO of St Andrew Goldfields (TSX:
SAS) (OTCQX: STADF) describes this Junior Gold producer in
Northeastern Ontario with three projects along
the Abitibi Greenstone Belt.
Video Interview with Duncan Middlemiss, President & CEO of St Andrew Goldfields -
SAS reports Q1 2014 production results of 24,361 ounces of gold
Date : 04/14/2014 @ 8:00AM
http://ih.advfn.com/p.php?pid=nmona&article=61834649
JAMES RICKARDS
This stock is Hugely Undervalued and Unknown. Yeah
The USOTC Version is here:
http://investorshub.advfn.com/St-Andrews-Goldfields-STADF-27783/
TY
St. Andrew Goldfields: 5 Different Insiders Have Purchased Shares During The Last 30 Days. Seeking Alpha article here Nice detailed information for anyone interested.
Michael Fowler: How to Find Wild Flowers in the Weeds.
Read more at Michael Fowler: How to Find Wild Flowers in the Weeds The debt structure and the Taylor Project is mentioned here. Sincerely, Paul T.
Dobie Lama' on 'ST. ANDREW GOLDFIELDS (TSX:SAS)
thanks my friend -
the more they try to manipulate SAS down -
the Higher it will FLY
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98199117
God Bless
I don't understand why SAS share price is not moving up along with the other juniors.
Any ideas?
$SUPERMAN thanks, SAS Provides Update on the Taylor Underground Drill Program
Drilling Returns: 22.57 g/t Au Over 12.4 m (18.13 g/t Au cut) and 12.49 g/t Au Over 4.80 m (11.50 g/t Au cut)
http://web.tmxmoney.com/article.php?newsid=66127378&qm_symbol=SAS
what a bargain SAS Gold Mines are -
ex. dd...SAS great gold mill -
replacement value would be about $500 million -
still the SAS Market Cap Total: $128,903,408
its a steal at current prices -
SAS shares used to be above $50.-/share when
SAS only had one mill -
its somehow manipulated down by the cabal banksters -
they did the same thing in 1929 -
took all values down to nothing -
short sold it all to pennies -
they created th stock market crash -
and then bought it for nothing -
all the 666 nwo pawns done is the same
poncy scheme again -
worst mafia in the world -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98192445
God Bless
St. Andrew Goldfields (T.SAS) drills 22.57 g/t Au over 12.4m
That's just incredible, seriously off the charts Huge News!
St. Andrew Goldfields (T.SAS) drills 22.57 g/t Au over 12.4m at Taylor -
13 hours ago
St. Andrews Goldfields (TSX:SAS), a Toronto-based junior gold
producer operating in the Timmins Ontario mining district,
provided an update today to the company's underground
exploration program on the 1004 lens of the West Porphyry Zone
(“WPZ”) at its Taylor project located in the
Timmins mining district, northeastern Ontario.
According to the news release, the drilling centered on the
easterly strike extension of the 1004 lens resource block
located within the WPZ.
Results from the program provided additional data that will
increase the company's understanding of the geological and
structural setting in the east end of the 1004 lens and will be
used to confirm the tenor and orientation of the mineralization.
Highlights from the program included,
22.57 g/t Au over 12.4m at T220-022,
12.49 g/t Au over 4.8m at T220-023,
23.70 g/t Au over 0.6m at T220-024 and
50.10 g/t Au over 0.9m at T220-025.
Taylor Project is located 50km east of Timmins and lies along
the Porcupine Destor Fault Zone in the eastern regions of
the Porcupine Mining Camp between Stock and
Black Fox gold deposits.
St. Andrews was in the news recently when the company beat
cash cost guidance in 2013.
Shares rose 2.99% on the news to $0.345 per share.
Currently there are 368.3m outstanding shares with a
market cap of $127.1 million.
Tags: GOLD
SAS reports annual 2013 production results of 99,548 ounces of gold -
TORONTO, Jan. 9, 2014 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF),
("SAS" or the "Company") is pleased to report annual 2013
production of 99,548 ounces of gold from its
Holt, Holloway and Hislop mines
achieving the mid-range level of its 2013 guidance.
Fourth quarter production ("Q4 2013") was in line with
expectations, with 24,300 ounces produced.
"We are very proud of our team for achieving record production and
within our stated 2013 production guidance of
95,000 - 105,000 ounces", said Duncan Middlemiss, President and
Chief Executive Officer of SAS.
"The Holt Mine continues to increase its production profile on
an annual basis, and we look forward to the continuation of
this trend.
All required infrastructure is in place and with the
development of Zone 6, additional production flexibility will
be enabled.
We look forward to delivering on our objectives in 2014, with
the same vigor as in previous years."
Corporate Update
http://www.sasgoldmines.com/i/pdf/Presentation.pdf
http://www.sasgoldmines.com
http://www.b-tv.com/features/watch-now.html?clip=StAndrewGoldfieldsMar13.wmv
SAS reports annual 2013 production results of 99,548 ounces of gold -
TORONTO, Jan. 9, 2014 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF),
("SAS" or the "Company") is pleased to report annual 2013
production of 99,548 ounces of gold from its
Holt, Holloway and Hislop mines
achieving the mid-range level of its 2013 guidance.
Fourth quarter production ("Q4 2013") was in line with
expectations, with 24,300 ounces produced.
"We are very proud of our team for achieving record production and
within our stated 2013 production guidance of
95,000 - 105,000 ounces", said Duncan Middlemiss, President and
Chief Executive Officer of SAS.
"The Holt Mine continues to increase its production profile on
an annual basis, and we look forward to the continuation of
this trend.
All required infrastructure is in place and with the
development of Zone 6, additional production flexibility will
be enabled.
We look forward to delivering on our objectives in 2014, with
the same vigor as in previous years."
Corporate Update
http://www.sasgoldmines.com/i/pdf/Presentation.pdf
http://www.sasgoldmines.com
http://www.b-tv.com/features/watch-now.html?clip=StAndrewGoldfieldsMar13.wmv
SAS reports 2013 fourth quarter and year end results, beating cash cost guidance and provides 2014 guidance
Feb 13, 2014
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122568
(click on chart to enlarge it )
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96158059
God Bless
St Andrew Goldfields - Loved By Analysts For A Reason And A Likely Takeover Target
Click here for article.
St Andrew Goldfields Ltd. (SAS.TO) Wkly Chart 1st Target $0.78/sh -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96158059
God Bless
Rickards explains why gold must rise to at least $7,000 – $10,000. -
Rickards also discusses China’s gold purchases and that
the people with the most gold will have the most to say in
regard to a new monetary system -
MatterhornInterview Presenting James G. Rickards; economist, lawyer. entrepreneur -
http://goldswitzerland.com/jim-rickards-the-matterhorn-interview-jan-2014/
Jim is the author of bestseller Currency Wars and soon to be
released sequel -
The Death of Money.
ST. ANDREW GOLDFIELDS (TSX:SAS) The major structural features in the area are the Porcupine-Destor Fault Zone ("PDFZ")
Along the PDFZ, over 110 million ounces of
gold have been produced.
A similar structure to the south, namely the Larder Lake
Cadillac Fault Zone, extends west of Kirkland lake to Cadillac
with gold production in this area totalling
approximately 70 million ounces of gold.
Within the SAS Company's extensive land package
extending over a linear distance of
approximately 120 kilometres east of
Timmins, Ontario and up to the Quebec border,
SAS has the opportunity to continue to add to
the prosperous future of this renowned
mining district.
SAS reports annual 2013 production results of 99,548 ounces of gold -
TORONTO, Jan. 9, 2014 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF),
("SAS" or the "Company") is pleased to report annual 2013
production of 99,548 ounces of gold from its
Holt, Holloway and Hislop mines achieving the mid-range level
of its 2013 guidance.
Fourth quarter production ("Q4 2013") was in line with
expectations, with 24,300 ounces produced.
"We are very proud of our team for achieving record production
and within our stated 2013 production guidance of 95,000 -
105,000 ounces", said Duncan Middlemiss, President and
Chief Executive Officer of SAS.
"The Holt Mine continues to increase its production profile on
an annual basis, and we look forward to the continuation of
this trend.
All required infrastructure is in place and with the
development of Zone 6, additional production flexibility
will be enabled.
We look forward to delivering on our objectives in 2014,
with the same vigor as in previous years."
Q4 and Annual 2013 Production Results -
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122567
SAS Focused on Generating Cash Flow -
Corporate Update Presentation -
http://www.sasgoldmines.com/i/pdf/Presentation-CorpUpdate-27Nov13.pdf
http://www.sasgoldmines.com/i/pdf/FactSheet.pdf
ST. ANDREW GOLDFIELDS (TSX:SAS) has a long hike back UP -
we just started to GO back UP @ the TOP again fiat$5.-++++
Gold Headed Higher, Big Surprise From China Coming:
John Doody -- Kitco News --
STADF needs to be seen up top here also, imo
That's very nice DD, Bob. More should see it.
Shame a real quality working Gold Mining Company
doesn't have masses following it and jumping in here.
I MEAN SERIOUSLY? WHATS WRONG WITH THIS BLIND CROWD?
Great Work!
ST. ANDREW GOLDFIELDS (TSX:SAS) The major structural features in the area are the Porcupine-Destor Fault Zone ("PDFZ")
Along the PDFZ, over 110 million ounces of
gold have been produced.
A similar structure to the south, namely the Larder Lake
Cadillac Fault Zone, extends west of Kirkland lake to Cadillac
with gold production in this area totalling
approximately 70 million ounces of gold.
Within the SAS Company's extensive land package
extending over a linear distance of
approximately 120 kilometres east of
Timmins, Ontario and up to the Quebec border,
SAS has the opportunity to continue to add to
the prosperous future of this renowned
mining district.
SAS reports annual 2013 production results of 99,548 ounces of gold -
TORONTO, Jan. 9, 2014 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF),
("SAS" or the "Company") is pleased to report annual 2013
production of 99,548 ounces of gold from its
Holt, Holloway and Hislop mines achieving the mid-range level
of its 2013 guidance.
Fourth quarter production ("Q4 2013") was in line with
expectations, with 24,300 ounces produced.
"We are very proud of our team for achieving record production
and within our stated 2013 production guidance of 95,000 -
105,000 ounces", said Duncan Middlemiss, President and
Chief Executive Officer of SAS.
"The Holt Mine continues to increase its production profile on
an annual basis, and we look forward to the continuation of
this trend.
All required infrastructure is in place and with the
development of Zone 6, additional production flexibility
will be enabled.
We look forward to delivering on our objectives in 2014,
with the same vigor as in previous years."
Q4 and Annual 2013 Production Results -
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122567
SAS Focused on Generating Cash Flow -
Corporate Update Presentation -
http://www.sasgoldmines.com/i/pdf/Presentation-CorpUpdate-27Nov13.pdf
http://www.sasgoldmines.com/i/pdf/FactSheet.pdf
ST. ANDREW GOLDFIELDS (TSX:SAS) has a long hike back UP -
we just started to GO back UP @ the TOP again fiat$5.-++++
SAS reports annual 2013 production results of 99,548 ounces of gold -
TORONTO, Jan. 9, 2014 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF),
("SAS" or the "Company") is pleased to report annual 2013
production of 99,548 ounces of gold from its
Holt, Holloway and Hislop mines achieving the mid-range level
of its 2013 guidance.
Fourth quarter production ("Q4 2013") was in line with
expectations, with 24,300 ounces produced.
"We are very proud of our team for achieving record production
and within our stated 2013 production guidance of 95,000 -
105,000 ounces", said Duncan Middlemiss, President and
Chief Executive Officer of SAS.
"The Holt Mine continues to increase its production profile on
an annual basis, and we look forward to the continuation of
this trend.
All required infrastructure is in place and with the
development of Zone 6, additional production flexibility
will be enabled.
We look forward to delivering on our objectives in 2014,
with the same vigor as in previous years."
Q4 and Annual 2013 Production Results -
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122567
SAS Focused on Generating Cash Flow -
Corporate Update Presentation -
http://www.sasgoldmines.com/i/pdf/Presentation-CorpUpdate-27Nov13.pdf
http://www.sasgoldmines.com/i/pdf/FactSheet.pdf
ST. ANDREW GOLDFIELDS (TSX:SAS) has a long hike back UP -
we just started to GO back UP @ the TOP again fiat$5.-++++
Major gold stock index—shows that gold stocks are now cheaper
than they've been since the beginning of this
secular bull cycle in 2001 -
strategic bottom fishing for treasures -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96020256
God Bless
geodan thanks, SAS used to be @ more than $60/sh so its
the normal banksters 666 cults manipulation pushed them
to way oversold and undervalued penny price -
SAS has three profitable Gold Mines in Canadas richest Destor fault
Timmins zone + a few more maybe restarted soon -
http://www.sasgoldmines.com/s/NewsDetails.asp?id=122567
http://www.sasgoldmines.com/i/pdf/Presentation.pdf
ST. ANDREW GOLDFIELDS (TSX:SAS) has a long hike back UP -
we will be @ the TOP again fiat$5.-++++
http://www.sasgoldmines.com/i/pdf/FactSheet.pdf
ST. ANDREW GOLDFIELDS (TSX:SAS) has a long hike back UP -
we just started to GO but will be @ the TOP again fiat$5.-++++
God Bless
57% Gain in SAS in one month
.22 to .345 Fortunately bot fair amount in low .20s, SAS probably the best value stock in gold sector.
Cheers
SAS+STADF both break out Big Today .345
4 Month highs today. SAS has been outperforming the sector and is a very good takeover target like BRG.
SAS reports annual 2013 production results of 99,548 ounces of gold
BONANZA!!
Today is the breakout day for sector.
Most stocks are breaking out from a flat base. SAS was early, but very good omen for SAS.
Don Durrett's fundamental analysis youtube video. Found here. Contains an overview of the company and it's financials. A good 13-minute watch. The only thing he found is that the company shares are highly diluted. He's hoping for a stock buyback in the future. The rest, including debt, is highly manageable. Sincerely, RP
Followers
|
6
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
384
|
Created
|
09/29/06
|
Type
|
Free
|
Moderators |
http://www.ivarkreuger.com/metalcharts.htm
The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |