Mawson West Announces Q1 Financial and Operating Results
(firmenpresse) - PERTH, AUSTRALIA -- (Marketwired) -- 05/15/13 -- Mawson West Limited (TSX: MWE) ("Mawson West" or "the Company"), an emerging Africa-focused copper producer, has released its financial results and related management discussion and analysis (MD&A) for Q1 2013.
Mawson West has delivered a solid quarter of operational performance from its flagship project in the Democratic Republic of Congo ("DRC"), including copper and silver production from Dikulushi, placing Mawson West on track to achieve the Company's full-year production target.
Key highlights of the first quarter include:
Financial
Operational
Outlook
Mawson West remains focused on delivering shareholder value from the Company's ground position in the copper-rich DRC. The Company's guidance for 2013 production from Dikulushi remains unchanged, and the Kapulo project, which will be Mawson West's second producing mine, remains on track to begin commissioning in late 2013.
Mawson West Chief Executive Officer and Managing Director Bruce McFadzean said: "Against a backdrop of considerable uncertainty in global commodities markets, Mawson West delivered a solid performance over a number of metrics in the first quarter, which provides a sound platform for the Company to achieve its goals through the remainder of 2013. Production from Dikulushi has reached steady state, with costs in line with our previous guidance. We aim to build on this with the results of the Dikulushi underground study and the design review of Kapulo due in the current quarter, moving towards the start of commissioning at Kapulo towards the end of the year. Our US$11 million exploration programme is also ongoing, and we look forward to reporting back to shareholders on our progress."
About Mawson West
Mawson West is an Australian copper and silver-focused resource company listed on the Toronto Stock Exchange, with its head office in Perth, Western Australia.
The Company's approximate 7,300km2 ground position in the DRC contains Mawson West's two key projects, the Dikulushi copper-silver mine and the Kapulo copper mine and provides multiple near-mine and stand-alone exploration opportunities.
(1) Revenues include revenue from silver sales and are stated net of smelter recovery, treatment, refining and transport costs.
(2) The term "C1 cost" is a non-IFRS financial performance measure. C1 costs are direct cash operating costs per pound of copper in concentrate produced, net of silver by-product credits. Direct cash operating costs per pound include all mining and processing costs, mine site overheads and realisation costs (including transport costs, treatment and refining costs and smelter recovery deductions) through to refined metal. The term C1 cost does not have any standardised meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.
Contacts:
Mawson West Limited
Mr Bruce McFadzean
Chief Executive Officer and Managing Director
+61 8 9485 9800
+61 8 9486 8857 (FAX)
Mawson West Limited
Mr Mark Di Silvio
Chief Financial Officer
+61 8 9485 9800
+61 8 9486 8857 (FAX)
Media:
Mr Dudley White
MAGNUS Investor Relations + Corporate Communication
+61 2 8999 1002
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Datum: 15.05.2013 - 13:09 Uhr
Sprache: Deutsch
News-ID 260340
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contact information:
Town:
PERTH, AUSTRALIA
Kategorie:
Mining & Metals
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