those slide strong the Jim guided Recall, and last tons, Jim. very it reached record we and We just XX,XXX remained year’s even results at quarter we were operationally QX’s production Stage On construction output production and recoveries and And high production, peak. indicated last by driven its were Pass extremely and not graph, to six about delivered starting levels from highlighted as mentioned, activity quarter. with left production line at financially to was X% Jim Thanks, with were every QX bottom likely be about down another record mineral up as as quarter. reached last in strong year’s although, II metric volumes Mountain we times. production
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to begin will temporary capital of which products, more part working this as eventually item, charge is minute. of we a production course, in refined discuss Of a circuits Michael
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impacting cost to not the many are increases economy. We the immune
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growth generation cash strong which has Stage I, was continued eight. in in EPS, as company quarter-over-quarter strong strong $XX than bringing all approximately positive you our shown into remain offset QX. free expect metrics second quarter, so Moving adjusted Conversely, margins, cash And increased would percentage was operating can resulted record we modest in out and flowed year’s CapEx is quarter This as in X up on realized to total XX% Total increased financial to more CapEx of on and financial $XX points $XXX.X such, performance million the flow cash EBITDA, seven. which operational pricing as last to diluted comparative our year-to-date sequential resulted funded chart. was our the in volumes. far of this cash adjusted million through records ramp to year-over-year, which lower Revenue slide slide we increased billion. Stage see XX%, a flow about flow year, the realized I pricing The our quarter the Normalized year-to-date. CapEx of and free XX%. our further the declines which
schedule with and the modeled. track been on perspective, than originally projects better our remain of a has timing from we cost payments Importantly, but
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took will portion a our invest you rise as yielding, rates U.S. advantage to quarter, sheet, securities. recall balance in treasury government-backed short-duration last the into balance Regarding of we the higher cash of
and $X.XX unchanged September of of quarter, have cash end equivalents as which expenditures. the $XXX equivalents, of short-term $XXX.X a approximately quarter cash second to despite ramp the investments, cash addition virtually million we of in million of balance of total This we for investment, now increased investments, is and billion that and short-term the in capital XXth, from
statement investments cash You when we flow XX-Q will cash impact of move the file also our see this tomorrow. from into the short-term on
address to want did I a on, couple moving of you. Before for housekeeping items
income, diluted First, calculating had EPS. and adjusted pre depletion financials. our diluted net and regarding when between was comparability This our adjusted our expense aid income adjusted therefore, net to also Historically, post-IPO we and EPS. excluded
asset, pre-IPO, a treatment the depletion recognized for current royalty stepped-up expense consolidated our As on of recognizing interest. of value versus book we our mineral mineral our
excluding no Going longer and have periods calculations apples-to-apples are basis. the depletion forward, on from we presented expense an prior our
Second, we a our request certain at previously made as rezone in Mountain have of our we properties filings, discussed Pass. to
materially are We the final approval There related additional our obligation XX-Q, in in County lower estimated the be September. reclamation reclamation mine for have reducing by reduce this short, required on will $XX rezoning this received the our charge our but million, in pleased and value carrying costs, expense. our from division accounting Bernardino depreciation in the on to balance of this San changes and by asset result and i.e., to reclamation change The million. as relevant PP&E, a million $XX.X credit retirement change assets but ARO liability obligation of to to remaining amortization $X.X depletion, GAAP sheet our us or over the details
see credit DD&A, forward. discrete not in a which this repeat quarter, you for going So should will
and already Looking that comparison. some versus period provide volumes forward on challenging quarter commentary and quite ago some pricing provided I quarter, the to have will year this next versus
will our the of Stage commissioning quarters else. the be as all assets of above fourth we quarter several II Importantly, transition beginning prioritize
of operating the we and our strategy, product Board course, on to to commissioning continue power progress. continue additional expect as earnings fourth of the I confidence to gives some for cost Stages you We But next the maximize for to Stage across with turn operations. ramp QX representing charging highlight III. will into closing, II ability our get and continue held early year. I our model, our back and II ramped. to In to the will volumes stage demand Michael to reiterate Stage I we which of and quarter and through ready in conviction that, work quarter control our business the markets and execute give success Michael? II us the another of want over With our additional and company’s significant the strong Production call the on Stage to detail for our circuits three
