{"id":383691,"date":"2020-11-18T06:03:39","date_gmt":"2020-11-18T11:03:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=383691"},"modified":"2020-11-18T06:03:39","modified_gmt":"2020-11-18T11:03:39","slug":"superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results\/","title":{"rendered":"Superior Gold Inc. Announces Third Quarter 2020 Financial and Operating Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <b><br \/>\n          <i>UNDERGROUND STOPE GRADE INCREASED BY 23% RELATIVE TO PRIOR QUARTER<\/i><br \/>\n        <\/b>\n      <\/p>\n<p class=\"prntac\">\n        <b><br \/>\n          <i>STRONG CASH POSITION SUBSEQUENT TO EQUITY FINANCING IN OCTOBER<\/i><br \/>\n        <\/b>\n      <\/p>\n<p class=\"prntac\">\n        <b><br \/>\n          <i>\u00a0<\/i><br \/>\n        <\/b><br \/>\n        <i>(In U.S. Dollars unless otherwise stated) <\/i>\n      <\/p>\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Nov. 18, 2020<\/span> \/PRNewswire\/ &#8211; <b>Superior Gold Inc. <\/b>(&#8220;Superior Gold&#8221; or the &#8220;Company&#8221;) (TSXV: SGI) today announced its financial and operating results for the third quarter ended <span class=\"xn-chron\">September 30, 2020<\/span>. <\/p>\n<p>\n        <b>Third Quarter Highlights:<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Produced 15,699 ounces of gold and sold 15,492 ounces of gold <\/li>\n<li>Record realized gold price<sup>1<\/sup> of <span class=\"xn-money\">$1,756<\/span> per ounce sold <\/li>\n<li>Total cash costs<sup>1<\/sup> of <span class=\"xn-money\">$1,471<\/span> per ounce sold and all-in sustaining costs<sup>1<\/sup> (&#8220;AISC&#8221;) of <span class=\"xn-money\">$1,617<\/span> per ounce sold, both negatively impacted by strengthening of the Australian dollar \u2013 AISC impacted by approximately <span class=\"xn-money\">$130<\/span> per ounce relative to the second quarter of 2020 <\/li>\n<li>Stope grade increased by 23% relative to the second quarter as the Company focuses on higher margin ounces <\/li>\n<li>Development grade also significantly improved by 36% relative to the second quarter <\/li>\n<li>Operating cash flow after working capital changes of <span class=\"xn-money\">$0.4 million<\/span>, after repayment of <span class=\"xn-money\">$2.0 million<\/span> under the Company&#8217;s short-term gold loan (scheduled to be repaid by <span class=\"xn-chron\">June 30, 2021<\/span>) <\/li>\n<li>Net loss for the period of <span class=\"xn-money\">$0.02<\/span> per share and adjusted net loss<sup>1<\/sup> of <span class=\"xn-money\">$0.01<\/span> per share <\/li>\n<li>Preliminary Economic Assessment (&#8220;PEA&#8221;) for the Plutonic Main Pit push-back was commissioned and is well underway <\/li>\n<\/ul>\n<p>\n        <b>Highlights Subsequent to Quarter End:<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Closed an equity financing on <span class=\"xn-chron\">October 29, 2020<\/span> for gross proceeds of <span class=\"xn-money\">C$17.3 million<\/span><\/li>\n<li>Strong cash position subsequent to the aforementioned financing<\/li>\n<\/ul>\n<p>&#8220;The third quarter included several positive changes for Superior Gold that will help reposition the Company as a profitable emerging mid-tier gold producer operating in a tier one mining jurisdiction. \u00a0We recently strengthened our balance sheet, improving our cash position and securing the liquidity to advance drilling and development in order to open new mining fronts at the Plutonic underground gold mine. \u00a0In addition, we are advancing an important open pit opportunity that could provide a steady supply of ore to supplement the underground feed, providing long-term stability and expanding our production rates,&#8221; stated <span class=\"xn-person\">Tamara Brown<\/span>, Interim CEO.\u00a0 <\/p>\n<p>&#8220;Our operating results during the quarter were in-line with expectations. We were pleased to report underground stope grades mined increased by 23% over the second quarter, something we will continue to focus on as we reposition this asset for long-term success.\u00a0 We are also focused on improving productivities which we expect will benefit from the recent arrival of new mobile mining equipment, aimed at improving equipment availability and materially lowering maintenance costs moving forward.\u00a0 During the third quarter, operating costs in Australian Dollars declined to the lowest level in 2020, but were negatively impacted by the strengthening of the Australian to U.S. Dollar exchange rate which adversely impacted our AISC by approximately <span class=\"xn-money\">$130<\/span> per ounce relative to the second quarter. <\/p>\n<p>Looking forward, we are happy to confirm that open pit material will be incorporated into our 2021 production profile, work we have advanced in parallel with the PEA of a push-back of the Plutonic main pit.\u00a0 Our strategic review process remains ongoing as we assess all opportunities to maximize value for shareholders, including assessing all potential additional sources of ore feed.\u00a0 Finally, we will also be launching new surface and underground exploration programs as we follow up on our recent drilling success and seek to organically expand our reserve and resource base.&#8221;<\/p>\n<p>This release should be read in conjunction with the Company&#8217;s Management Discussion and Analysis (&#8220;MD&amp;A&#8221;) and consolidated financial statements for the year ended <span class=\"xn-chron\">September 30, 2020<\/span>. These documents will be posted on the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2984952-1&amp;h=1054741546&amp;u=http%3A%2F%2Fwww.superior-gold.com%2F&amp;a=www.superior-gold.com\" rel=\"nofollow noopener noreferrer\">www.superior-gold.com<\/a> and SEDAR at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2984952-1&amp;h=2229494027&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>\n        <b>Summary of Financial and Operational Results:<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr8\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three months <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>ended <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine months <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>ended <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">All amounts in $ millions except where noted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Financial<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating income (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income (loss) before taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.0)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6.2)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income (loss)\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6.3)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings (loss) per share &#8211; basic and diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.06)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net income (loss)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1.3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.0)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net income (loss) per share &#8211; basic<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash flow from operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14.1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of common shares outstanding (basic)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">97,134,473<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">97,111,728<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr8\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operational<\/b><br \/>\n                  <sup>2<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Stope material mined (Tonnes)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">157,430<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">461,466<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Stope grade mined (g Au\/t)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.84<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Development material mined (Tonnes)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">58,114<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">186,141<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Development grade mined (g Au\/t)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.98<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Surface material milled (Tonnes)<sup>3<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">178,627<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">513,726<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Surface material grade (g Au\/t)<sup>3<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.30<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total material milled (Tonnes)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">379,969<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,139,830<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Grade milled (g Au\/t)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.57<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.56<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gold recovery (%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gold Produced (ounces)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,699<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,227<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gold Sold (ounces)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,492<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,878<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total cash costs ($\/ounce)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,471<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,393<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">AISC ($\/ounce)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,617<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,524<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average realized price<sup>1<\/sup> ($\/ounce)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,756<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,643<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Plutonic Gold Operations<\/b>\n      <\/p>\n<p>The Plutonic Gold operations produced and sold 15,699 and 15,492 ounces of gold, respectively, for the third quarter of 2020. Total cash costs<sup>1<\/sup> of <span class=\"xn-money\">$1,471<\/span>\/ounce sold and AISC<sup>1<\/sup> of <span class=\"xn-money\">$1,617<\/span>\/ounce were below the realized gold price<sup>1<\/sup> of <span class=\"xn-money\">$1,756<\/span>\/ounce for the three-month period ending <span class=\"xn-chron\">September 30, 2020<\/span>. In comparison, 16,627 and 17,900 ounces of gold were produced and sold, respectively for the third quarter of 2019. Total cash costs<sup>1<\/sup> of <span class=\"xn-money\">$1,504<\/span>\/ounce sold and AISC<sup>1<\/sup> of <span class=\"xn-money\">$1,652<\/span>\/ounce were above the realized gold price<sup>1<\/sup> of <span class=\"xn-money\">$1,483<\/span>\/ounce for the three-month period ending <span class=\"xn-chron\">September 30, 2019<\/span>.<\/p>\n<p>Total cash costs and AISC decreased over the prior period primarily as a result of higher underground tonnes and grade milled, partially offset by the processing of low-grade legacy stockpiles in the current period versus the processing of higher-grade Hermes stockpiles in the prior period. The variance from prior period for underground grade was the result of scheduling and developing higher grade stopes and focusing on operational improvements to reduce mining dilution. <\/p>\n<p>The Company generated net cash from operations after working capital changes of <span class=\"xn-money\">$0.4 million<\/span> for the three months ending <span class=\"xn-chron\">September 30, 2020<\/span> after the repayment of <span class=\"xn-money\">$2.0 million<\/span> to Auramet under the gold loan.<\/p>\n<p>\n        <b>Plutonic Main Pit Push-back<\/b>\n      <\/p>\n<p>The Company is currently evaluating opportunities to leverage its excess mill capacity with the processing of open pit sources of ore located close to its processing facilities at the Plutonic Gold operations. Development, optimization, and permitting is well underway at the Plutonic East, Perch, and Salmon open pits as well as the Hermes and Hermes South open pit projects located 65 kilometres and 85 kilometres to the southwest of the mill, respectively. <\/p>\n<p>In addition, the Company is in the process of completing a PEA for the Plutonic Main Pit project to determine the economics associated with a push-back on the past producing open pit which ceased production in 2005. The results of the study could potentially provide the Company with an important new source of open pit feed to supplement the underground production for the processing facilities which consist of a 1.8 million tonnes per annum main mill and 1.2 million tonnes per annum secondary mill which is currently on care and maintenance.<\/p>\n<p>\n        <b>Exploration Activities<\/b>\n      <\/p>\n<p>During the three and nine months ended <span class=\"xn-chron\">September 30, 2020<\/span>, the Company operated two underground diamond drilling rigs with 15,471 and 52,774 metres, respectively, of drilling completed. Of the total, 12,910 and 34,095 metres, respectively, were drilled for grade control and stope design while 2,570 and 18,680 metres, respectively, were for reserve and resource expansion.<\/p>\n<p>During the third quarter, the focus for reserve and resource expansion was interpretive geological modelling of new mining fronts.\u00a0 A third drill is being added in the fourth quarter to increase the reserve and resource expansion drilling and to target the opening of new mining fronts.<\/p>\n<p>\n        <b>Outlook<\/b>\n      <\/p>\n<p>The Company maintains its 2020 production guidance of 60,000 to 70,000 ounces of gold, but due to a 9% strengthening in the Australian to U.S. Dollar exchange rate in the third quarter of 2020, the Company has revised its 2020 cash cost guidance as follows:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvat prnsbbs prntal prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020 Guidance<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Guidance<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(July 30, 2020) <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revised Guidance<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(November 18, 2020)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Production (oz of Gold)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60,000 &#8211; 70,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60,000 &#8211; 70,000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash Costs ($\/oz)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,250 &#8211; $1,350<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,375 &#8211; $1,425<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">AISC ($\/oz)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,350 &#8211; $1,450<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,500 &#8211; $1,550<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable23c9\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Note:\u00a0 November 18, 2020 guidance is based on an Australian to U.S. Dollar exchange rate of 0.70.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Conference Call<\/b>\n      <\/p>\n<p>Management will host a conference call and webcast on <span class=\"xn-chron\">Wednesday November 18, 2020<\/span> at <span class=\"xn-chron\">10:00AM ET<\/span> to discuss the third quarter 2020 financial and operating results. <\/p>\n<div>\n<table id=\"convertedTable032a\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u>Conference Call and Webcast <\/u><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntar prnpl6 prnsblb0 prnpr6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Date:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Wednesday November 18, 2020 10:00AM ET<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Toll-free North America:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(888) 231-8191<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Local or International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(647) 427-7450<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Webcast: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2984952-1&amp;h=811235028&amp;u=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1397462%26tp_key%3D077bf37614&amp;a=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1397462%26tp_key%3D077bf37614\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">https:\/\/produceredition.webcasts.com\/starthere.jsp?ei=1397462&amp;tp_key=077bf37614<\/a><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table id=\"convertedTablee8e1\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u>Conference Call Replay<\/u><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Toll-free North America:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(855) 859-2056<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Local or International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(416) 849-0833<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Passcode:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1248469<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>The conference call replay will be available from <span class=\"xn-chron\">1:00PM ET<\/span> on <span class=\"xn-chron\">November 18, 2020<\/span> until <span class=\"xn-chron\">23:59PM ET<\/span> on <span class=\"xn-chron\">December 2, 2020<\/span>. <\/p>\n<p>The presentation will be available on the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2984952-1&amp;h=1054741546&amp;u=http%3A%2F%2Fwww.superior-gold.com%2F&amp;a=www.superior-gold.com\" rel=\"nofollow noopener noreferrer\">www.superior-gold.com<\/a>.\u00a0\u00a0 <\/p>\n<p>______________________________________________<\/p>\n<div>\n<table id=\"convertedTable8bb5\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Refer to the Non-IFRS Performance Measures disclosure included in the Company&#8217;s MD&amp;A for a description and calculation of these measures.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Numbers may not add due to rounding.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Surface material milled in the third quarter 2020 is primarily the processing of low-grade stockpile.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Qualified Person<\/b>\n      <\/p>\n<p>Scientific and technical information in this news release has been reviewed and approved by <span class=\"xn-person\">Keith Boyle<\/span>, P.Eng., Chief Operating Officer of the Company, who is a &#8220;qualified person&#8221; as defined by National Instrument 43-101 (NI 43-101). Mr. Boyle is not independent of the Company within the meaning of NI 43-101. <\/p>\n<p>\n        <b>About Superior Gold <\/b>\n      <\/p>\n<p>Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold operations located in <span class=\"xn-location\">Western Australia<\/span>. The Plutonic Gold operations include the Plutonic underground gold mine and central mill, the Hermes open pit projects and an interest in the Bryah Basin joint venture. Superior Gold is focused on expanding production at the Plutonic Gold operations and building an intermediate gold producer with superior returns for shareholders.<\/p>\n<p>\n        <b>Forward Looking Information <\/b>\n      <\/p>\n<p>This news release contains &#8220;forward-looking information&#8221; within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. &#8220;Forward-looking information&#8221; includes statements that use forward-looking terminology such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;continue&#8221;, &#8220;potential&#8221; or the negative thereof or other variations thereof or comparable terminology. The forward-looking information contained herein includes, without limitation, information related to the Company&#8217;s executing of a strategic review process currently underway, the potential outcome of such process and the intended maximization of shareholder value that the Company believes may result from such process. By identifying such information in this manner, the Company is alerting the reader that such information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.<\/p>\n<p>Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See &#8220;Risk Factors&#8221; in the Company&#8217;s prospectus dated <span class=\"xn-chron\">February 15, 2017<\/span> filed on SEDAR at <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a> for a discussion of these risks. In addition, The Company is exposed to outbreaks or threats of outbreaks of viruses, other infectious diseases or other similar health threats, including the novel coronavirus (&#8220;COVID-19&#8221;) outbreak, which could have a material adverse effect on the Company by causing operational and supply chain delays and disruptions, labour shortages, shutdowns, the inability to sell gold, capital markets volatility or other unknown but potentially significant impacts. The Company cannot accurately predict what effects these conditions will have on the Plutonic Gold Operations or the financial results of the Company, including uncertainties relating to travel restrictions to the Plutonic Gold Operations or otherwise and business closures that have been or may be imposed by governments. If an outbreak or threat of an outbreak of a virus or other infectious disease or other public health emergency occurs, it could have a material adverse effect on the Company&#8217;s business, financial condition and results of operations.<\/p>\n<p>The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information as no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, and if any of them do so, what benefits the Company will derive therefrom. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this news release to reflect events or circumstances after the date hereof.<\/p>\n<p>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO94998&amp;sd=2020-11-18\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results-301175293.html\">http:\/\/www.prnewswire.com\/news-releases\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results-301175293.html<\/a><\/p>\n<p>SOURCE  Superior Gold<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO94998&amp;Transmission_Id=202011180600PR_NEWS_USPR_____TO94998&amp;DateId=20201118\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire UNDERGROUND STOPE GRADE INCREASED BY 23% RELATIVE TO PRIOR QUARTER STRONG CASH POSITION SUBSEQUENT TO EQUITY FINANCING IN OCTOBER \u00a0 (In U.S. Dollars unless otherwise stated) TORONTO, Nov. 18, 2020 \/PRNewswire\/ &#8211; Superior Gold Inc. (&#8220;Superior Gold&#8221; or the &#8220;Company&#8221;) (TSXV: SGI) today announced its financial and operating results for the third quarter ended September 30, 2020. Third Quarter Highlights: Produced 15,699 ounces of gold and sold 15,492 ounces of gold Record realized gold price1 of $1,756 per ounce sold Total cash costs1 of $1,471 per ounce sold and all-in sustaining costs1 (&#8220;AISC&#8221;) of $1,617 per ounce sold, both negatively impacted by strengthening of the Australian dollar \u2013 AISC impacted by approximately $130 per ounce relative to the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Superior Gold Inc. Announces Third Quarter 2020 Financial and Operating Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-383691","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Superior Gold Inc. Announces Third Quarter 2020 Financial and Operating Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Superior Gold Inc. Announces Third Quarter 2020 Financial and Operating Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire UNDERGROUND STOPE GRADE INCREASED BY 23% RELATIVE TO PRIOR QUARTER STRONG CASH POSITION SUBSEQUENT TO EQUITY FINANCING IN OCTOBER \u00a0 (In U.S. Dollars unless otherwise stated) TORONTO, Nov. 18, 2020 \/PRNewswire\/ &#8211; Superior Gold Inc. (&#8220;Superior Gold&#8221; or the &#8220;Company&#8221;) (TSXV: SGI) today announced its financial and operating results for the third quarter ended September 30, 2020. Third Quarter Highlights: Produced 15,699 ounces of gold and sold 15,492 ounces of gold Record realized gold price1 of $1,756 per ounce sold Total cash costs1 of $1,471 per ounce sold and all-in sustaining costs1 (&#8220;AISC&#8221;) of $1,617 per ounce sold, both negatively impacted by strengthening of the Australian dollar \u2013 AISC impacted by approximately $130 per ounce relative to the &hellip; Continue reading &quot;Superior Gold Inc. Announces Third Quarter 2020 Financial and Operating Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T11:03:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO94998&amp;sd=2020-11-18\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/superior-gold-inc-announces-third-quarter-2020-financial-and-operating-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Superior Gold Inc. 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Third Quarter Highlights: Produced 15,699 ounces of gold and sold 15,492 ounces of gold Record realized gold price1 of $1,756 per ounce sold Total cash costs1 of $1,471 per ounce sold and all-in sustaining costs1 (&#8220;AISC&#8221;) of $1,617 per ounce sold, both negatively impacted by strengthening of the Australian dollar \u2013 AISC impacted by approximately $130 per ounce relative to the &hellip; Continue reading \"Superior Gold Inc. 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