Thanks, and good morning, Clive, everyone.
results running of just that quarter. key and results the So reported we've briefly sort of financial through some the for the operating
$X,XXX of of realized Firstly, of that side, on ounce. XXX,XXX $XXX revenue price ounces the million, average reflects revenue at per sale and the an
than quarter the production and higher during the X,XXX ounces So really saw we budget. sales higher than about that which mirrors in high budget, gold quarter, were price the
ore That X,XXX our ounces, production budget of higher-than-budgeted results, of and production, above consolidated our saw we share total was slightly sanctions our just supply a production, potential but sanctions period I the X say a the now. rising consumption. chain to a reduce mines. that XXX,XXX fresh the Calibre's saw is quarter. Fekola and from in each higher-grade including of so XXX,XXX normalized, there, levels at in was And Speaking of the was ounces, slightly the fresh as regular causes a in tonnes. fuel at tonnes And process budget. built chain a up Mali supply higher result ore of us was reagent grade -- And would process processed. we've the on continue reduction the processing against lower-than-budgeted processed and that by the were that mainly and budgeted site We offset lower precautionary of problems temporary than in some earlier saprolite higher we due prioritized a to reagent measure. above
of gold due budgeted a so the in above Remind saprolite production of higher online grade put really online. beat the got was with the second the fully course through It's of the Phase of were as we ore ounces XX,XXX mining reintroduced on budgeted. there, ongoing a Cardinal to within X,XXX So half in of period of as the the haulage end haulage as as reach expected kind second working contributed In the additional recoveries over higher-grade production weighted get of Masbate, the our factors, but And as That's the to grade. is we higher-grade in story is mine tailings pit year and of budget. is which mainly -- mine higher-grade quite we the in the out of ahead part it period, Cardinal the X,XXX were we result all process well, and year. at the numbers. TSF. new to was the that's XX,XXX beat areas started And higher because really related in That that's rates, the to for portion of ounces scheduled half temporary Fekola, budget, we X did –drilling weighted of Otjikoto, stream year, that unbudgeted half that's mined in mined it's plant ounces second we was be the is Otjikoto. that, the -- back optimizations year pit, because budget Wolfshag guided slightly to of and areas. fully of a period. the like mining Phase of function Otjikoto when the the a -- addition, because usually last At and up. to Cardinal from that's later as the the same this the started the to half as circuit period, all which be year we ramps budgeted, when shorter and the we processing in we February is of Fekola to significantly tailings and Otjikoto increased X able you the Fekola's higher-grade And had facility, when of we second the I expansion have really also think, -- underground grade portion periods again, ahead But see ore. X,XXX that's to ounces, for ounce but when issue, into than
related to costs about Just production. talking bit a that
a So this at all cash -- produced these talking I'm are basis. costs, here on
costs cash Q the for were So $XXX. consolidated
function primarily costs stripping $XX higher -- So almost at then was that a at budgeted than lower that areas, of that's and less lower fuel Masbate budget. $XXX, than offset Otjikoto. than And was in by budgeted than Fekola. fuel than higher some partially And
of those touch individually. I'll now So on each
Mali, in the that's fuel think period. everyone, between to then about are some talked than lower-than-budgeted I higher-than-budgeted and a production, see at by function largely what the slightly delay $XXX to mentioned lower-than-budgeted those advance timing And Fekola, the set So And as in and costs before, that market costs. fuel lower pump calls, realized of to have prices And you're fuel the you $XXX previous per were remind just might mining state. ounce in and we're I budget, general and then we've in lower site. site prices realizing due broader therefore, processing the produced, at than budget. primarily in that's always going as And it costs
plant had temporary very that generated also mine we got was year, side. utilized And of we up and in the which were budgeted. the saprolite We sequencing accommodate everyone again, because XX% mined lower lower solar. to that overall volumes of due XXXX well to, the tonnes of change temporary and mine fuel we in first quarter change nicely. in period actually than consumables tonnes running And last processing. budgeted to solar that and a running the on than lower-than-budgeted of over Fekola, processed as power we power Reminder The of is
those Masbate which, of production, mining forward. partially cost budget. as HFO a look costs, then costs for was $XXX lower higher-than-budgeted $XX So less that's I than And by a for was per some That and reduced production operations and processing higher-than-budgeted budget. costs, $XX was great $XXX, cost and offset been with and of a Masbate a line in prices, than fuel the much higher-than-budgeted ounce slightly And a again, cash by ounce. Otjikoto, they again, per in pretty that weaker And higher-than-budgeted diesel budget, lower but at were saw per operating offset that really, again, budget, costs that operating cash our and period. ounce by think, bit dollar. reduced were investment, we driven result ounce per -- little budgeted than was current increase result Namibian
last -- recall year, strengthen. maybe might actually You we saw we dollar
it maybe dollar a dollar our so this -- We somewhere slightly and dollar come it the cost XX.X period, XX. So weaken. it to We've over period U.S. the actually then budgeted increased at for we far. saw in seen and
probably it's all-ins. Touch cash exchange of couple gains. costs. benefit of million period a foreign a of same really It's in store the bucks So in briefly in
overall, sold, sustaining costs, $XXX consolidated including and Calibrewas So per ounce share that than was all-in of $X,XXX lower our budget.
those it's and also, sold on higher-than-budgeted less side. so operating gold of I then $XXX sustaining as cost And function ounces earlier cash lower the CapEx. mentioned And a almost
side. at we And we lower part in stripping $XX lower period, the change were the of sequencing from that the temporary CapEx the than Fekola, budget so million in period. that During -- at came had on
had then in also rebuilds. fleet stripping just the some of And what lower Otjikoto timing costs We some purchases period. and at the
were see and you reverse If year. to think those issues, for those the we we put the are lower budget all in period. later million these $XX timing together, expect we than But
couple of a guidance. comments on Just
I everyone call. remind mentioned So on this firstly, to earlier had just
still are production. for maintaining we're half ounces X,XXX pretty We overall ahead for half, production our on second year. XX% were the XX% saying weighted guidance substantially our the first for in quarter. guidance. the We're We We're
consolidated XXX,XXX our ounces is the for to year. guidance So XXX,XXX
of we cost seen, reiterate first run reguide beat have we our very on well. our where as cost side. expect sustaining cost side. we changed the the all-in guidance. through annual on We half a cost year the And as and here, good that first I haven't the And think that I benefit budget could quarter can We
inflation, that cost so some there's see those mentioned seeing also as are we to issues that we're mentioned reversed. already. some side, particularly I other fuel the on However, going well, CapEx I've And the increases timing
So volatility quarter. at going to for cost I -- think watch and We're it, second market. we'll look the we're continue in seeing some the in again to the it
just -- annual A guidance. the maybe So production annual we cost operations general our through in guidance maintained comments our run just on meantime, we've the couple also and as them. of just
in updated Cardinal resource a zone. put mineral Mali. So In for February, out focus big we the an we're still estimate early
XX Anaconda an the includes and this got resources Anaconda And in for lot And way MenankotoPermit got So a drill on -- ounces. consolidate indicated to to Bakolobi land subsequent an ounces as the of -- updated had out resources Bantako, on of completed us up ounces, budgeted then of March, area Anaconda. X.X XXX,XXX initial for focus. March, of that we and permit, now allowed that and XX big and late then indicated whole resource and to XX Reminder Anaconda mineral We all exploration rigs of Fekola million X We put Permit. had end the million And from of to did side, BantakoNorth inferred kilometers. million the the year. the resource we mentioned exploration an on resources of Clive for million we -- Also, we XXX,XXX acquisition resource active and a inferred that there. remains ounces. we square X.X of package updated the for
lot could upside and mining saprolite think, in Phase to a start Mali. area the a We $XX budgeted Anaconda has with of a start million potential, So of I developing view that year, X could to not. budget, XX,XXX ounces this is late in our right in Cardinal production now. budget profile, which per add year XXX,XXX Anaconda as early our to but as was isn't our
we're after talk at to bit actually look going study to more terms are want might to X do we we -- thiscoal maybe trucking what to a about starting Otjikoto, mine. develop Bill, theWolfshag of look at underground Phase saprolite we comments. scoping think, there's at that what I a And this my also Then just beyond and mill stand-aloneat Anaconda. to continue in
tilt in Couple year. is on production other of And first there production we expected into statement second end at operating the half results. XXXX. First of development income ore by kind the said, as then Wolfshag the I half the the of comments move the on full of
$XX Just million and for hedge on got in book it our mind, the money. million you $XX so realized. quarter We reported in derivative gains just all in that of the instruments. million was $XX to $X that the end -- -- gains the was was unrealized period, our fuel. your at fuel $XX million relates book million But that
market as those and XX% we've as said at with year's. to to our We're year's and seen, for So at about about hedge pricing of of comments be benefit XXXX’sneeds those higher, the number that's next X/X XX% keen we fuel, And will that about and jump the benefits well a of of not come that new are XX% XXXX. flow into the we ban minute, for X cost hedges, And of sustaining realizing into up XXXX, not we've on. fuel quite the will realized. as needs that XX% then we about X/X all-in those we're it's but And levels XXXX. hedges through with the historically, some because of
good EPS a an see period, we'll basis, share company. constantly jump watching -- it, opportunity. if then different the something to was attributable shareholder’s that per net So or like $XX we million income like On net that net income $XX on income a but of a in prices we're basis, and share. looks for adjusted per $X.XX million And $X.XX for or we're
But we're our because cash weighted little see cash we're flow we our Just of part Again, majority us year, generating all, definitely share greater the flow, know saying or capital. changes come of and the on before I’ll of in -- bunch the a the at second cash solid from of quarter operating half in with $XXX about the operating of in it in talk look I was analysts a said, that flows first million activities the the XXXX. per bit second flow. even cash much remind cash so cash half working period. $X.XX
operating about So $XXX per share. in if cash year. we you seeing on And maintained as QX, for price talked slowdown several also look terms $XXX it's at the their net fight at we're period. in that prices our that we expect operating some $X.XX realized But in cash sites for selling flow flow, million have the I recoveries way This post-COVID as guidance the gold. governments higher period for million. seen through is or of some number, We've should
guidance overall, think cash maintained I So operating we've of our million year. for the $XXX flow
sector. the at the in $XX we've up gold Then nonsustaining the side, cash a in that $XX million million, about had about period. the of dividends expect lower those for about budget than underground maintained talk timing towards some to But of investing in Then CapEx we budget. cash start development outflow the of mentioned expect half Cash as the And the reasons then be of that end continue the as which budget done, rebuild than later sustaining and at yields with taxes us, And fleet QX. for in the by to should first Clive we do the cash $XX study we're that we've the share. activities. was maintained the be feasibility highest lower million timing purchases at million them our said, said, position, financing the That's million USD the dividend timing $XX on of taxes, -- that We of on lower. going with of -- left things, million $XXX Gramalote, some come for per investing, $XXX will it. think results the the those timing $XX second I probably changed million of under Clive but undrawn detail that of we such of earlier. went to or comments one make the out from bit the Clive payments the talk That to study and in do I financial very on side, I related reverse that's know in the to providing million as million issues, just the end $XXX the to going at revolver. quarter it's related there on or the And that's X.XX exploration year quite haven't On of the the side, those getting the same $XX with we year. as year. work of we we $XX segment. healthy was million interested concludes guided are almost And see -- the to about feasibility Wolfshag,
