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Crocodile Gold Corp. Message Board

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  • Crocodile Gold Reports Revenue of Over $300 Million and Operating Cash Flow of $67 Million in 2013
    Marketwired Crocodile Gold Corp.
    March 19, 2014 6:00 PM
    TORONTO, ONTARIO--(Marketwired - Mar 19, 2014) - Crocodile Gold Corp. (CRK.TO)(CRK-DB.TO)(CRK-WT.TO)(CROCF)(XGC.F) ("Crocodile Gold" or the "Company") today announces its annual financial and operating results for the year ended December 31, 2013. All figures are in U.S. dollars, unless stated otherwise.

    2013 Financial Highlights

    Crocodile Gold generated over $300M in revenue in 2013 with production of 210,696 ounces of gold from its three operating mines, a 35% increase in production over 2012.
    Operating cash costs(1) have decreased to $1,027 per ounce in 2013, down from $1,167 per ounce in 2012, as a result of sustainable ounce production at Cosmo, productivity gains at Fosterville and cost reductions across all operations.
    The Company generated $67.5M in cash flow from operations in 2013 despite a challenging gold price environment, an increase of $8.6M over 2012 due to strong production and lower operating cash costs.
    The Company finished the year in a strong financial position with a cash balance of $27.6M and working capital of $15.3M. The Company also raised an additional C$18.0M in cash through a private placement that closed in February 2014.
    In March 2014, the Company settled its remaining outstanding credit facility with Credit Suisse, to further strengthen the Company's financial position.
    Commenting on these results, Rodney D. Lamond, President and CEO of Crocodile Gold, said: "2013 has been a very strong year for the Company and this is demonstrated in our positive year-end financial results. We have focused on sustainable mine plans that generate positive cash flows, which has positively affected our production levels at the Fosterville and Cosmo Gold Mines and enabled the Stawell Gold Mine to extend its production plan into 2014. The Company will continue to focus on sustainability and making val

  • Reply to

    Needs a 1:10 reverse split

    by alf_1986e Jan 2, 2014 10:13 AM

    Once again this stock proves to be a dilution machine.

    Sentiment: Sell

  • Reply to

    Needs a 1:10 reverse split

    by alf_1986e Jan 2, 2014 10:13 AM

    Crocodile Gold Corp. (TSX:CRK) ("Crocodile Gold" or the "Company") today announced that it has agreed to complete an $18 million private placement (the "Placement") with Sprott Asset Management LP ("Sprott") on behalf of certain funds and managed accounts, Eric Sprott and Luxor Capital Group ("Luxor").

    The Placement will consist of the issuance of up to 69,230,770 units (the "Units") at a price of $0.26 per Unit. Each Unit will consist of one common share of Crocodile Gold and one-quarter of one common share purchase warrant ("Warrant") with each whole Warrant being exercisable to acquire one further common share of Crocodile at a price of $0.35 for a period of 12 months from closing and at a price of $0.40 for an additional period of 12 months beginning on the date of the first anniversary of the closing of the Placement.

    The securities underlying the Units, including the common shares and Warrants issued on closing, as well as the common shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period commencing on the date of issuance. Closing of the Placement is expected to occur on or about February 28, 2014 and remains subject to a number of conditions, including without limitation, the entering into of definitive documentation with Sprott and Luxor and the receipt of regulatory approval, including approval of the TSX.

    The Company intends to use the net proceeds to fund growth projects, such as the Big Hill Project, and regional exploration programs as well as for general working capital purposes. In connection with the Placement a finder's fee will be paid to Brant Securities Ltd.

0.22+0.0100(+4.76%)Apr 24 3:59 PMEDT

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