Fiore Exploration Ltd (OTC:FIOGF) attracted a fair amount of interest as the trading day wound down Thursday, after the Vancouver-based miner brought down its full-year financial figures.
Fiore reported that gold production totaled 34,297 ounces and gold sales amounted to 34,688 ounces. Fiore recorded annual revenues of $44.38 million and mine operating income of $12.77 million. The company also boasted maintaining a strong balance sheet with no debt and working capital of $18.12 million as of the September 30, 2018 financial year-end.
Net income measured $1.1 million, compared to a net loss last fiscal year of $18.9 million.
The goal for Fiore is to grow into a 150,000-ounce-per-year gold producer. So, the company intends to grow gold production at its flagship Pan Mine while also growing the reserve and resource base, advancing exploration and development of the nearby Gold Rock project, and acquiring additional production or near-production assets to complement our existing operations.
Shares acquired two cents, or 7.8%, to 28.02 cents, though on less-than-sparkling volume of nearly 63,000 shares.
