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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Klondex Mines Ltd. (delisted) | AMEX:KLDX | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.16 | 0.00 | 01:00:00 |
ý
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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British Columbia
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98-1153397
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(State or other jurisdiction of
incorporation or organization)
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(IRS Employer Identification No.)
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6110 Plumas Street, Suite A Reno, Nevada
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89519
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(Address of principal executive offices)
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(Zip Code)
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Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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(Do not check if a smaller reporting company)
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Smaller reporting company
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Emerging growth company
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•
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estimates of future mineral production, mining activities and sales (including graphs or other visual representations of future production forecasts);
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•
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estimates of future production costs and other expenses for specific operations and on a consolidated basis;
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•
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estimates of future capital expenditures, construction or production activities and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding or timing thereof;
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estimates as to the projected development of certain mineral projects, including the timing of such development, the costs of such development and other capital costs, financing plans for these deposits and expected production commencement dates;
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estimates of mineral reserves and mineral resources, timing of updated studies and statements regarding future exploration;
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statements regarding the availability of, and, terms and costs related to, future borrowing and financing;
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estimates regarding future exploration expenditures, results and reserves and resources;
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estimates regarding potential cost savings, productivity and operating performance;
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expectations regarding the start-up time, ramp up time or ability to put a mine into production;
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expectations regarding the design, mine life, mill availability, production and costs applicable to sales and exploration potential of our mines and projects;
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recovery rate estimates;
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statements regarding future transactions, including transactions contemplated under our arrangement agreement with Hecla Mining Company; and
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statements regarding the impacts of changes in the legal and regulatory environment in which we operate.
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the prices of gold, silver, and other metals and commodities;
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the cost of operations;
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capital expenditures;
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currency fluctuations;
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inflation or deflation;
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geological and metallurgical assumptions;
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•
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risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of our mineral deposits;
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operating performance of equipment, processes and facilities; including the impact of weather on such operating performance;
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timing of receipt of necessary governmental permits or approvals;
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domestic and foreign laws or regulations, particularly relating to the environment, mining and processing;
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changes in tax laws;
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domestic and international economic and political conditions;
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external stakeholders;
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•
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our ability to obtain or maintain necessary financing;
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•
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other risks and hazards associated with mining operations;
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•
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uncertainty of estimates of capital costs, operating costs, production and economic returns;
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•
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uncertainty related to inferred mineral resources;
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labor relations and our need and/or ability to attract and retain qualified management and technical personnel;
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failure to obtain the required shareholder approval or regulatory clearance for our proposed transaction with Hecla Mining Company;
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the occurrence of any other event that could give rise to the termination of our proposed transaction with Hecla Mining Company; and
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increased regulatory compliance costs relating to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Note
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March 31,
2018 |
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December 31,
2017 |
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Assets
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Current assets
|
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|
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Cash and cash equivalents
|
|
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$
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27,814
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$
|
23,674
|
|
Inventories
|
|
3
|
|
37,739
|
|
|
42,583
|
|
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Prepaid expenses and other
|
|
4
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|
4,440
|
|
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7,580
|
|
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Derivative assets
|
|
9
|
|
17
|
|
|
17
|
|
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Total current assets
|
|
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70,010
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|
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73,854
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Mineral properties, plant and equipment, net
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5
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|
276,040
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289,450
|
|
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Restricted cash
|
|
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|
9,504
|
|
|
9,555
|
|
||
Deferred tax assets
|
|
|
|
18,696
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|
|
18,696
|
|
||
Total assets
|
|
|
|
$
|
374,250
|
|
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$
|
391,555
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Liabilities
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|
|
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|
|
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Current liabilities
|
|
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|
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Accounts payable
|
|
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$
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23,081
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$
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28,302
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Accrued compensation and benefits
|
|
|
|
3,343
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|
|
4,296
|
|
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Derivative liabilities
|
|
9
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|
735
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|
170
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|
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Debt
|
|
6
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|
873
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|
|
902
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Income taxes payable
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3,203
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2,833
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Total current liabilities
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31,235
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36,503
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Debt
|
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6
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35,717
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35,405
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Deferred share units liability
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8
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|
847
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945
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Asset retirement obligations
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7
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21,389
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21,108
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Deferred tax liabilities
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17,030
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17,565
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Total liabilities
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106,218
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111,526
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Shareholders' Equity
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Unlimited common shares authorized, no par value; 179,660,245 and 179,614,947 issued and outstanding at March 31, 2018 and December 31, 2017, respectively
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—
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—
|
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Additional paid-in capital
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378,435
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377,714
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Accumulated deficit
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(89,942
|
)
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|
(81,944
|
)
|
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Accumulated other comprehensive loss
|
|
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(20,461
|
)
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(15,741
|
)
|
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Total shareholders' equity
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268,032
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280,029
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Total liabilities and shareholders' equity
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$
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374,250
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$
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391,555
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KLONDEX MINES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited)
(US dollars in thousands, except per share amounts)
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|
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Three months ended March 31,
|
||||||
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Note
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2018
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2017
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||||
Revenues
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$
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56,771
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$
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41,710
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Cost of sales
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Production costs
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35,449
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26,229
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Depreciation and depletion
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13,103
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7,728
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Write-down of production inventories
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3
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8,517
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3,680
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(298
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)
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4,073
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Other operating expenses
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General and administrative
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5,824
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4,488
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Exploration
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|
502
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127
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|
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Development and projects costs
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—
|
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5,505
|
|
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Asset retirement and accretion
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334
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|
|
381
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|
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Arrangement agreement costs
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3,616
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|
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—
|
|
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Loss on equipment disposal
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20
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|
|
116
|
|
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(Loss) income from operations
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|
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|
(10,594
|
)
|
|
(6,544
|
)
|
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Other income (expense)
|
|
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|
||||
(Loss) gain on derivatives, net
|
|
|
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(128
|
)
|
|
(2,144
|
)
|
||
Interest expense, net
|
|
|
|
(599
|
)
|
|
(1,158
|
)
|
||
Foreign currency (loss) gain, net
|
|
|
|
3,185
|
|
|
(1,021
|
)
|
||
Interest income and other (expense), net
|
|
|
|
6
|
|
|
17
|
|
||
Income (loss) before tax
|
|
|
|
(8,130
|
)
|
|
(10,850
|
)
|
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Income tax benefit (expense)
|
|
13
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|
132
|
|
|
623
|
|
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Net (loss) income
|
|
|
|
$
|
(7,998
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)
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$
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(10,227
|
)
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Net (loss) income per share
|
|
|
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|
|
||||
Basic
|
|
14
|
|
$
|
(0.04
|
)
|
|
$
|
(0.06
|
)
|
Diluted
|
|
14
|
|
$
|
(0.04
|
)
|
|
$
|
(0.06
|
)
|
KLONDEX MINES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)
(US dollars in thousands)
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Net (loss) income
|
|
$
|
(7,998
|
)
|
|
$
|
(10,227
|
)
|
Other comprehensive income (loss), net of tax
|
|
|
|
|
||||
Foreign currency translation adjustments, net of tax benefit (expense) of $1,658 and ($495) for the three months ended March 31, 2018 and 2017, respectively.
|
|
(4,720
|
)
|
|
1,410
|
|
||
Comprehensive income (loss)
|
|
$
|
(12,718
|
)
|
|
$
|
(8,817
|
)
|
KLONDEX MINES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(US dollars in thousands)
|
|
|
|
|
Three months ended March 31,
|
||||||
|
Note
|
|
2018
|
|
2017
|
|||||
Operating activities
|
|
|
|
|
|
|
||||
Net (loss) income
|
|
|
|
$
|
(7,998
|
)
|
|
$
|
(10,227
|
)
|
Significant items not involving cash
|
|
|
|
|
|
|
||||
Depreciation and depletion
|
|
|
|
13,103
|
|
|
7,890
|
|
||
Asset retirement and accretion
|
|
|
|
334
|
|
|
381
|
|
||
Derivative fair value adjustments
|
|
|
|
572
|
|
|
1,052
|
|
||
Write-down of production inventories
|
|
3
|
|
1,883
|
|
|
1,446
|
|
||
Foreign exchange, net
|
|
|
|
(2,405
|
)
|
|
899
|
|
||
Deferred tax expense (benefit)
|
|
|
|
(535
|
)
|
|
240
|
|
||
Share-based compensation
|
|
12
|
|
713
|
|
|
716
|
|
||
Deliveries under Gold Purchase Agreement
(1)
|
|
|
|
—
|
|
|
(1,860
|
)
|
||
Loss on equipment disposal
|
|
|
|
20
|
|
|
116
|
|
||
Deferred share unit expense
|
|
8
|
|
(72
|
)
|
|
(91
|
)
|
||
Non-cash interest expense
|
|
|
|
(82
|
)
|
|
153
|
|
||
|
|
|
|
5,533
|
|
|
715
|
|
||
Changes in non-cash working capital
|
|
|
|
|
|
|
||||
Inventories
|
|
|
|
4,491
|
|
|
(6,414
|
)
|
||
Prepaid expenses and other
|
|
|
|
3,113
|
|
|
(1,148
|
)
|
||
Accounts payable
|
|
|
|
(4,556
|
)
|
|
3,339
|
|
||
Accrued compensation and benefits
|
|
|
|
(941
|
)
|
|
(219
|
)
|
||
Income taxes payable
|
|
|
|
370
|
|
|
633
|
|
||
Net cash provided by (used in ) operating activities
|
|
|
|
8,010
|
|
|
(3,094
|
)
|
||
Investing activities
|
|
|
|
|
|
|
||||
Expenditures on mineral properties, plant and equipment
|
|
|
|
(2,810
|
)
|
|
(17,008
|
)
|
||
Change in accounts payable related to expenditures on mineral properties, plant and equipment
|
|
|
|
(461
|
)
|
|
(919
|
)
|
||
Net cash used in investing activities
|
|
|
|
(3,271
|
)
|
|
(17,927
|
)
|
||
Financing activities
|
|
|
|
|
|
|
||||
Cash transactions related to share-based compensation
|
|
|
|
8
|
|
|
1,528
|
|
||
Cash received from warrant exercises
|
|
|
|
—
|
|
|
1,681
|
|
||
Repayment of capital lease obligations
|
|
|
|
(276
|
)
|
|
(112
|
)
|
||
Payment of debt issuance costs
|
|
|
|
(239
|
)
|
|
(217
|
)
|
||
Net cash (used in) provided by financing activities
|
|
|
|
(507
|
)
|
|
2,880
|
|
||
Effect of foreign exchange on cash balances
|
|
|
|
(143
|
)
|
|
59
|
|
||
Net increase (decrease) in cash, cash equivalents and restricted cash
|
|
|
|
4,089
|
|
|
(18,082
|
)
|
||
Cash, cash equivalents and restricted cash, beginning of period
|
|
|
|
33,229
|
|
|
57,691
|
|
||
Cash, cash equivalents and restricted cash, end of period
|
|
|
|
$
|
37,318
|
|
|
$
|
39,609
|
|
(1)
Represents
Revenue
less
Interest Expense
attributable to the Gold Purchase Agreement (as defined herein).
|
KLONDEX MINES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)
(US dollars in thousands, except shares)
|
|
|
Note
|
|
Common shares
|
|
Additional paid-in capital
|
|
Accumulated deficit
|
|
Accumulated other comprehensive loss
|
|
Total
|
|||||||||
Balance at December 31, 2017
|
|
|
|
179,614,947
|
|
|
$
|
377,714
|
|
|
$
|
(81,944
|
)
|
|
$
|
(15,741
|
)
|
|
$
|
280,029
|
|
Share-based compensation expense
|
|
12
|
|
—
|
|
|
713
|
|
|
—
|
|
|
—
|
|
|
713
|
|
||||
Option exercises
|
|
|
|
6,667
|
|
|
14
|
|
|
—
|
|
|
—
|
|
|
14
|
|
||||
Restricted share unit vestings, net of shares withheld to satisfy tax withholding
|
|
|
|
38,631
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
||||
Net loss
|
|
|
|
—
|
|
|
—
|
|
|
(7,998
|
)
|
|
—
|
|
|
(7,998
|
)
|
||||
Foreign currency translation adjustments
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,720
|
)
|
|
(4,720
|
)
|
||||
Balance at March 31, 2018
|
|
|
|
179,660,245
|
|
|
$
|
378,435
|
|
|
$
|
(89,942
|
)
|
|
$
|
(20,461
|
)
|
|
$
|
268,032
|
|
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
Supplies
|
|
$
|
8,966
|
|
|
$
|
9,300
|
|
Production related inventories:
|
|
|
|
|
||||
Stockpiles
|
|
16,501
|
|
|
18,749
|
|
||
In-process
|
|
9,980
|
|
|
12,516
|
|
||
Doré finished goods
|
|
2,292
|
|
|
2,018
|
|
||
|
|
$
|
37,739
|
|
|
$
|
42,583
|
|
|
|
Three months ended March 31,
|
||||||
Type of previously incurred cost
|
|
2018
|
|
2017
|
||||
Cash production costs
|
|
$
|
6,634
|
|
|
$
|
2,234
|
|
Allocated depreciation and depletion
|
|
1,883
|
|
|
1,446
|
|
||
Write-down of production inventories
|
|
$
|
8,517
|
|
|
$
|
3,680
|
|
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
Prepaid taxes
|
|
$
|
2,016
|
|
|
$
|
3,496
|
|
Vendor prepayments
|
|
1,049
|
|
|
696
|
|
||
Prepaid claim maintenance and land holding costs
|
|
505
|
|
|
847
|
|
||
Canadian taxes receivable
|
|
353
|
|
|
1,568
|
|
||
Prepaid insurance
|
|
134
|
|
|
178
|
|
||
Other
|
|
383
|
|
|
795
|
|
||
|
|
$
|
4,440
|
|
|
$
|
7,580
|
|
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
Mineral properties
|
|
$
|
170,759
|
|
|
$
|
171,422
|
|
Facilities and equipment
|
|
120,971
|
|
|
120,727
|
|
||
Mine development
|
|
114,843
|
|
|
112,887
|
|
||
Land
|
|
3,862
|
|
|
3,887
|
|
||
Construction in progress
|
|
1,528
|
|
|
1,956
|
|
||
|
|
411,963
|
|
|
410,879
|
|
||
Less: accumulated depreciation and depletion
|
|
(135,923
|
)
|
|
(121,429
|
)
|
||
|
|
$
|
276,040
|
|
|
$
|
289,450
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Gold Purchase Agreement
|
|
$
|
—
|
|
|
$
|
783
|
|
Revolver interest and stand-by fees
|
|
537
|
|
|
334
|
|
||
Capital lease obligations
|
|
28
|
|
|
9
|
|
||
Other
|
|
34
|
|
|
32
|
|
||
|
|
$
|
599
|
|
|
$
|
1,158
|
|
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
Balance, beginning of period
|
|
$
|
21,108
|
|
|
$
|
25,436
|
|
Changes in estimates
|
|
—
|
|
|
(5,945
|
)
|
||
Accretion expense
|
|
334
|
|
|
1,523
|
|
||
Effect of foreign currency
|
|
(53
|
)
|
|
94
|
|
||
Balance, end of period
|
|
$
|
21,389
|
|
|
$
|
21,108
|
|
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
Midas
|
|
$
|
8,529
|
|
|
$
|
8,401
|
|
Hollister
|
|
6,005
|
|
|
5,905
|
|
||
Aurora
|
|
3,807
|
|
|
3,752
|
|
||
Fire Creek
|
|
1,230
|
|
|
1,210
|
|
||
True North
|
|
1,818
|
|
|
1,840
|
|
||
|
|
$
|
21,389
|
|
|
$
|
21,108
|
|
|
|
Three months ended March 31, 2018
|
|
Outstanding at beginning of period
|
|
360,366
|
|
Granted
|
|
—
|
|
Redeemed
|
|
—
|
|
Outstanding at end of period
|
|
360,366
|
|
Description
|
|
Recorded Within
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
Forward metal sales
|
|
Derivative assets, current
|
|
$
|
17
|
|
|
$
|
17
|
|
|
|
|
|
$
|
17
|
|
|
$
|
17
|
|
|
|
|
|
|
|
|
||||
Gold Offering Agreement
|
|
Derivative liabilities, current
|
|
$
|
—
|
|
|
$
|
170
|
|
Gold Collar and Forward Priced
|
|
Derivative liabilities, current
|
|
735
|
|
|
—
|
|
||
|
|
|
|
$
|
735
|
|
|
$
|
170
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Gold ounces
|
|
—
|
|
|
2,000
|
|
||
Average forward gold price
|
|
$
|
—
|
|
|
$
|
1,322
|
|
Average gold spot price on delivery date
|
|
$
|
—
|
|
|
$
|
1,238
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Gold ounces purchased by counterparty
|
|
—
|
|
|
22,040
|
|
||
Average gold price paid to the Company
|
|
$
|
—
|
|
|
$
|
1,206
|
|
Average gold spot price on delivery date
|
|
$
|
—
|
|
|
$
|
1,250
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Gold ounces covered
|
|
36,073
|
|
|
48,558
|
|
||
Average price per gold ounce
|
|
$
|
1,322
|
|
|
$
|
1,236
|
|
Silver ounces covered
|
|
—
|
|
|
287,000
|
|
||
Average price per silver ounce
|
|
$
|
—
|
|
|
$
|
17.88
|
|
|
|
March 31, 2018
|
|
December 31, 2017
|
||||||||||||||||||||
Assets:
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||
Forward metal sales
|
|
$
|
—
|
|
|
$
|
17
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
17
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
$
|
17
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
17
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Deferred share units liability
|
|
$
|
—
|
|
|
$
|
847
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
945
|
|
|
$
|
—
|
|
Gold Offering Agreement
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
170
|
|
||||||
Gold Collar
|
|
—
|
|
|
735
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$
|
—
|
|
|
$
|
1,582
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
945
|
|
|
$
|
170
|
|
Gold Offering Agreement liability:
|
|
March 31,
2018 |
||
Balance at beginning of the period
|
|
$
|
170
|
|
Gain from change in fair value
|
|
(170
|
)
|
|
Balance at end of the period
|
|
$
|
—
|
|
|
|
|
||
(Loss) gain on derivative, net:
|
|
|
||
Settlement losses
|
|
$
|
(138
|
)
|
Gain from change in fair value
|
|
170
|
|
|
|
|
$
|
32
|
|
|
|
March 31, 2018
|
|||||
Warrants
|
|
Number of Warrants
|
|
Weighted
Average Exercise Price - CDN$ |
|||
Outstanding, beginning of period
|
|
10,001,242
|
|
$
|
4.07
|
|
|
Exercised
|
|
—
|
|
|
—
|
|
|
Outstanding, end of period
|
|
10,001,242
|
|
|
$
|
4.07
|
|
Exercisable, end of period
|
|
10,001,242
|
|
|
$
|
4.07
|
|
|
|
March 31, 2018
|
|||||||
Exercise price per share - CDN$
|
|
Number outstanding
|
|
Weighted average remaining life (years)
|
|
Weighted average exercise price - CDN$
|
|||
$2.00 - $2.49
|
|
5,001,242
|
|
|
10.87
|
|
2.15
|
|
|
$6.00
|
|
5,000,000
|
|
|
14.01
|
|
6.00
|
|
|
|
|
10,001,242
|
|
|
12.44
|
|
$
|
4.07
|
|
|
|
Three months ended March 31,
|
||||||
Share-based compensation cost by award
|
|
2018
|
|
2017
|
||||
Share options
|
|
$
|
56
|
|
|
$
|
173
|
|
Restricted share units - time vesting criteria
|
|
538
|
|
|
444
|
|
||
Restricted share units - performance vesting criteria
|
|
119
|
|
|
92
|
|
||
Common share awards
|
|
—
|
|
|
7
|
|
||
|
|
$
|
713
|
|
|
$
|
716
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Current:
|
|
|
|
|
||||
Canada
|
|
$
|
—
|
|
|
$
|
—
|
|
United States
|
|
294
|
|
|
864
|
|
||
Total current income tax (expense) benefit
|
|
294
|
|
|
864
|
|
||
Deferred:
|
|
|
|
|
|
|
||
Canada
|
|
—
|
|
|
—
|
|
||
United States
|
|
(162
|
)
|
|
(241
|
)
|
||
Total deferred income tax (expense)
|
|
(162
|
)
|
|
(241
|
)
|
||
Total income tax (expense) benefit
|
|
$
|
132
|
|
|
$
|
623
|
|
Three months ended March 31, 2018
|
Fire Creek
|
|
Midas
|
|
Hollister
|
|
Aurora
|
|
True North
|
|
Corporate and other
|
|
Total
|
||||||||||||||
Revenues
|
$
|
20,505
|
|
|
$
|
14,038
|
|
|
$
|
13,380
|
|
|
$
|
1,981
|
|
|
$
|
6,867
|
|
|
$
|
—
|
|
|
$
|
56,771
|
|
Cost of sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Production costs
|
7,569
|
|
|
10,382
|
|
|
7,323
|
|
|
2,007
|
|
|
8,168
|
|
|
—
|
|
|
35,449
|
|
|||||||
Depreciation and depletion
|
3,486
|
|
|
5,203
|
|
|
1,610
|
|
|
297
|
|
|
2,507
|
|
|
—
|
|
|
13,103
|
|
|||||||
Write-down of production inventories
|
—
|
|
|
1,715
|
|
|
5,342
|
|
|
—
|
|
|
1,460
|
|
|
—
|
|
|
8,517
|
|
|||||||
|
9,450
|
|
|
(3,262
|
)
|
|
(895
|
)
|
|
(323
|
)
|
|
(5,268
|
)
|
|
—
|
|
|
(298
|
)
|
|||||||
Other operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
General and administrative
|
238
|
|
|
232
|
|
|
208
|
|
|
49
|
|
|
1,191
|
|
|
3,906
|
|
|
5,824
|
|
|||||||
Exploration
|
41
|
|
|
41
|
|
|
420
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
502
|
|
|||||||
Asset retirement and accretion
|
20
|
|
|
128
|
|
|
100
|
|
|
55
|
|
|
31
|
|
|
—
|
|
|
334
|
|
|||||||
Arrangement agreement costs
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,616
|
|
|
3,616
|
|
|||||||
Loss on equipment disposal
|
—
|
|
|
20
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20
|
|
|||||||
Income (loss) from operations
|
$
|
9,151
|
|
|
$
|
(3,683
|
)
|
|
$
|
(1,623
|
)
|
|
$
|
(427
|
)
|
|
$
|
(6,490
|
)
|
|
$
|
(7,522
|
)
|
|
$
|
(10,594
|
)
|
Capital expenditures
|
$
|
1,265
|
|
|
$
|
1,525
|
|
|
$
|
(19
|
)
|
|
$
|
(2
|
)
|
|
$
|
26
|
|
|
$
|
15
|
|
|
$
|
2,810
|
|
Total assets
|
$
|
52,128
|
|
|
$
|
72,686
|
|
|
$
|
126,255
|
|
|
$
|
16,548
|
|
|
$
|
55,873
|
|
|
$
|
50,760
|
|
|
$
|
374,250
|
|
Three months ended March 31, 2017
|
Fire Creek
|
|
Midas
|
|
Hollister
|
|
Aurora
|
|
True North
|
|
Corporate and other
|
|
Total
|
||||||||||||||
Revenues
|
$
|
20,451
|
|
|
$
|
15,789
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,470
|
|
|
$
|
—
|
|
|
$
|
41,710
|
|
Cost of sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Production costs
|
6,781
|
|
|
12,542
|
|
|
—
|
|
|
—
|
|
|
6,906
|
|
|
—
|
|
|
26,229
|
|
|||||||
Depreciation and depletion
|
1,657
|
|
|
4,536
|
|
|
—
|
|
|
—
|
|
|
1,535
|
|
|
—
|
|
|
7,728
|
|
|||||||
Write-down of production inventories
|
—
|
|
|
951
|
|
|
—
|
|
|
—
|
|
|
2,729
|
|
|
—
|
|
|
3,680
|
|
|||||||
|
12,013
|
|
|
(2,240
|
)
|
|
—
|
|
|
—
|
|
|
(5,700
|
)
|
|
—
|
|
|
4,073
|
|
|||||||
Other operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
General and administrative
|
191
|
|
|
156
|
|
|
—
|
|
|
—
|
|
|
253
|
|
|
3,888
|
|
|
4,488
|
|
|||||||
Exploration
|
127
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
127
|
|
|||||||
Development and projects costs
|
—
|
|
|
—
|
|
|
5,505
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,505
|
|
|||||||
Asset retirement and accretion
|
36
|
|
|
177
|
|
|
96
|
|
|
42
|
|
|
30
|
|
|
—
|
|
|
381
|
|
|||||||
Loss on equipment disposal
|
36
|
|
|
80
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
116
|
|
|||||||
Income (loss) from operations
|
$
|
11,623
|
|
|
$
|
(2,653
|
)
|
|
$
|
(5,601
|
)
|
|
$
|
(42
|
)
|
|
$
|
(5,983
|
)
|
|
$
|
(3,888
|
)
|
|
$
|
(6,544
|
)
|
Capital expenditures
|
$
|
6,804
|
|
|
$
|
5,544
|
|
|
$
|
298
|
|
|
$
|
615
|
|
|
$
|
3,458
|
|
|
$
|
289
|
|
|
$
|
17,008
|
|
Total assets
|
$
|
55,664
|
|
|
$
|
109,636
|
|
|
$
|
116,340
|
|
|
$
|
16,199
|
|
|
$
|
49,179
|
|
|
$
|
28,474
|
|
|
$
|
375,492
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Cash paid for federal and state income taxes
|
|
$
|
—
|
|
|
$
|
—
|
|
Cash paid for interest
|
|
599
|
|
|
1,181
|
|
||
Mobile equipment acquired through capital lease obligations
|
|
570
|
|
|
—
|
|
||
Change in accounts payable related to purchase of mineral properties, plant, and equipment
|
|
461
|
|
|
919
|
|
•
|
Health, safety, and environmental
- We remained committed to our most important core values by operating in an environmentally responsible manner while protecting the health and safety of our employees and contractors. No lost-time injuries occurred at our properties during the quarter and as of March 31, 2018, we had operated 1,993 days (~5.5 years) at Fire Creek, 1,273 days (~3.5 years) at Midas, 143 days (~0.4 years) at True North, and 544 days (~1.5 years) at Hollister and Aurora, without a lost-time injury.
|
•
|
Consolidated performance
- We mined a total of
111,604
tons, in line with management’s expectations. Mined ounces are calculated using tons hauled from underground to surface (or tons hauled from tailings) multiplied by the assays from production sampling. We produced a total of
43,525
gold equivalent ounces ("
GEOs")
|
•
|
Nevada performance
- The Company's Nevada operations mined
92,303
ore tons at an average mined head grade of 0.51 GEOs per ton during the first quarter of 2018. Nevada operations produced
41,415
GEOs, an increase of 35% from 30,654 GEOs produced during the first quarter 2017. Total production was in line with expectations.
|
•
|
Fire Creek
- At Fire Creek, the Company mined
30,409
ore tons in the first quarter at a grade of
0.80
GEOs per ton and produced
22,305
GEOs. Ounces produced in the first quarter were 16% higher as compared to the same quarter last year. The first quarter production, grade and recovery were in line with expectations.
|
•
|
Midas
- The Midas mine mined
23,761
ore tons in the first quarter at an average head grade of
0.43
gold equivalent ounces per ton, and produced
9,878
GEOs. Gold equivalent mine head grade increased 23% in the first quarter of 2018 as compared to the first quarter of 2017.
|
•
|
Hollister
- During the first quarter Hollister mined
27,282
ore tons at an average gold equivalent mined head grade of
0.43
ounces per ton. Recoveries have improved to 84.4% in the first quarter in part because of ore processed at a third party processor. Hollister ore recovery at the Midas mill is expected to be between 85% and 90% going forward after the addition of four screens to the existing circuit. During the first quarter the Company sold approximately 6,260 dry ore tons from the year end stockpile to a third party processor.
|
•
|
Midas Mill
- Ore from Fire Creek, Midas and Hollister are processed at the Midas mill, which has a design capacity of 1,200 tons per day. Run-of-mine ore is crushed to 100% passing 1/2" in a conventional two-stage crushing circuit which utilizes a primary jaw crusher and a secondary cone crusher with the circuit closed by a double deck vibrating screen. During 2017 the Company added a tail thickener to the Midas mill. The addition of the thickener will extend the life of the tailings facilities and reduce future capital expenditures for tailing facilities following the completion of the 2018 expansion. The Company anticipates $16 to $18 million of capital to be spent in 2018 on the expansion of the tailings facility at the Midas mill. Mobilization started in March 2018 with construction scheduled to begin in the second quarter.
|
•
|
True North performance
- During the first quarter the True North mine transitioned from operations to care and maintenance. During the transition True North continued to mine
19,301
ore tons producing
2,111
GEOs. The Company will continue to process tailings through the mill for the near future in order to maximize cash flow and offset expected care and maintenance costs. No tailings were processed during the first quarter.
|
•
|
Ounces sold and financial results
- We sold
42,541
GEOs, consisting of
40,572
gold ounces and
158,239
silver ounces. Revenue was
$56.8 million
from average realized selling prices per gold and silver ounce of
$1,334
and
$16.61
, respectively. Net loss was
$8.0 million
or (
$0.04
per share - basic).
|
•
|
Cash flows and liquidity
- Our ending cash balance was
$27.8 million
after
$8.0 million
of operating cash inflows,
$3.3 million
used in investing activities, and
$0.5 million
used in financing activities. Ending working capital was
$38.8 million
and total liquidity was
$43.8 million
when including the
$5.0 million
of Revolver availability.
|
•
|
Spending
- Capital, exploration, and development spending totaled
$1.3 million
at Fire Creek,
$1.6 million
at Midas,
$0.4 million
at Hollister,
nil
at Aurora,
nil
at True North, and
nil
at corporate for total capital, exploration and development spending of
$3.3 million
.
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Total gold revenue (thousands)
|
|
$
|
54,143
|
|
|
$
|
36,563
|
|
Gold ounces sold
|
|
40,573
|
|
|
29,559
|
|
||
Average realized price (per ounce)
|
|
$
|
1,334
|
|
|
$
|
1,237
|
|
|
|
|
|
|
||||
The change in gold revenue was attributable to:
|
|
Change
|
|
|
||||
Change in ounces sold
|
|
$
|
13,645
|
|
|
|
||
Change in average realized price
|
|
2,867
|
|
|
|
|||
Effect of average realized price change on ounces sold increase
|
|
1,068
|
|
|
|
|||
|
|
$
|
17,580
|
|
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Total silver revenue (thousands)
|
|
$
|
2,628
|
|
|
$
|
5,147
|
|
Silver ounces sold
|
|
158,239
|
|
|
287,000
|
|
||
Average realized price (per ounce)
|
|
$
|
16.61
|
|
|
$
|
17.93
|
|
|
|
|
|
|
||||
The change in silver revenue was attributable to:
|
|
Change
|
|
|
||||
Change in ounces sold
|
|
$
|
(2,310
|
)
|
|
|
||
Change in average realized price
|
|
(379
|
)
|
|
|
|||
Effect of average realized price change on ounces sold increase
|
|
170
|
|
|
|
|||
|
|
$
|
(2,519
|
)
|
|
|
|
|
Three months ended March 31,
|
||||||||||
Cost of sales
|
|
2018
|
|
2017
|
|
Change
|
||||||
Production costs
|
|
$
|
35,449
|
|
|
$
|
26,229
|
|
|
$
|
9,220
|
|
Depreciation and depletion
|
|
13,103
|
|
|
7,728
|
|
|
5,375
|
|
|||
Write-down of production inventories
|
|
8,517
|
|
|
3,680
|
|
|
4,837
|
|
|||
|
|
$
|
57,069
|
|
|
$
|
37,637
|
|
|
$
|
19,432
|
|
Cost of sales by mine
|
|
|
|
|
|
|
||||||
Fire Creek
|
|
$
|
11,055
|
|
|
$
|
8,438
|
|
|
$
|
2,617
|
|
Midas
|
|
17,300
|
|
|
18,029
|
|
|
(729
|
)
|
|||
Hollister
|
|
14,275
|
|
|
—
|
|
|
14,275
|
|
|||
Aurora
|
|
2,304
|
|
|
—
|
|
|
2,304
|
|
|||
True North
|
|
12,135
|
|
|
11,170
|
|
|
965
|
|
|||
|
|
$
|
57,069
|
|
|
$
|
37,637
|
|
|
$
|
19,432
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
General and administrative
|
|
$
|
5,824
|
|
|
$
|
4,488
|
|
|
$
|
1,336
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Exploration
|
|
$
|
502
|
|
|
$
|
127
|
|
|
$
|
375
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Development and projects costs
|
|
$
|
—
|
|
|
$
|
5,505
|
|
|
$
|
(5,505
|
)
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Asset retirement and accretion
|
|
$
|
334
|
|
|
$
|
381
|
|
|
$
|
(47
|
)
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Arrangement agreement costs
|
|
$
|
3,616
|
|
|
$
|
—
|
|
|
$
|
3,616
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
(Loss) gain on derivatives, net
|
|
$
|
(128
|
)
|
|
$
|
(2,144
|
)
|
|
$
|
2,016
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Interest expense, net
|
|
$
|
(599
|
)
|
|
$
|
(1,158
|
)
|
|
$
|
559
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Foreign currency (loss) gain, net
|
|
$
|
3,185
|
|
|
$
|
(1,021
|
)
|
|
$
|
4,206
|
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Income tax benefit (expense)
|
|
$
|
132
|
|
|
$
|
623
|
|
|
$
|
(491
|
)
|
|
|
Three months ended March 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
Change
|
||||||
Net (loss) income
|
|
$
|
(7,998
|
)
|
|
$
|
(10,227
|
)
|
|
$
|
2,229
|
|
Category
|
Tons (k)
|
Au opt
|
Au g/t
|
Ag opt
|
Ag g/t
|
AuEq opt
|
Au Eq g/t
|
Au koz
|
Ag koz
|
AuEq koz
|
||||||||||
Proven
|
108.0
|
|
1.079
|
|
37.0
|
|
1.03
|
|
35.42
|
|
1.089
|
|
37.3
|
|
117
|
|
112
|
|
118
|
|
Probable
|
211.0
|
|
0.517
|
|
17.7
|
|
0.51
|
|
17.61
|
|
0.524
|
|
18.0
|
|
109
|
|
108
|
|
111
|
|
Total P&P
|
319.0
|
|
0.708
|
|
24.3
|
|
0.69
|
|
23.66
|
|
0.716
|
|
24.6
|
|
226
|
|
220
|
|
229
|
|
|
|
Three months ended March 31,
|
||||||||||
Mine Operations - Fire Creek
|
|
2018
|
|
2017
|
|
Change
|
||||||
Ore tons mined
|
|
30,409
|
|
|
31,730
|
|
|
(1,321
|
)
|
|||
Average gold equivalent mined head grade (oz/ton)
(1)
|
|
0.80
|
|
|
1.19
|
|
|
(0.39
|
)
|
|||
Gold equivalent mined (oz)
(1)
|
|
24,453
|
|
|
37,605
|
|
|
(13,152
|
)
|
|||
Gold mined (oz)
|
|
24,080
|
|
|
37,193
|
|
|
(13,113
|
)
|
|||
Silver mined (oz)
|
|
30,130
|
|
|
28,258
|
|
|
1,872
|
|
|||
Ore tons milled
|
|
30,699
|
|
|
21,659
|
|
|
9,040
|
|
|||
Average gold equivalent mill head grade (oz/ton)
(1)
|
|
0.79
|
|
|
0.95
|
|
|
(0.16
|
)
|
|||
Average gold mill head grade (oz/ton)
|
|
0.78
|
|
|
0.94
|
|
|
(0.16
|
)
|
|||
Average silver mill head grade (oz/ton)
(2)
|
|
1.01
|
|
|
0.84
|
|
|
0.17
|
|
|||
Average gold recovery rate (%)
|
|
91.9
|
%
|
|
93.4
|
%
|
|
(1.5
|
%)
|
|||
Average silver recovery rate (%)
(2)
|
|
79.4
|
%
|
|
83.2
|
%
|
|
(3.8
|
%)
|
|||
Gold equivalent produced (oz)
(1)
|
|
22,305
|
|
|
19,201
|
|
|
3,104
|
|
|||
Gold produced (oz)
|
|
22,000
|
|
|
18,981
|
|
|
3,019
|
|
|||
Silver produced (oz)
|
|
24,669
|
|
|
15,109
|
|
|
9,560
|
|
|||
Gold equivalent sold
(oz)
(1)
|
|
15,241
|
|
|
16,540
|
|
|
(1,299
|
)
|
|||
Gold sold (oz)
|
|
15,014
|
|
|
16,378
|
|
|
(1,364
|
)
|
|||
Silver sold (oz)
|
|
18,340
|
|
|
11,145
|
|
|
7,195
|
|
|||
Revenues and realized prices
|
|
|
|
|
|
|
||||||
Gold revenue (000s)
|
|
$
|
20,200
|
|
|
$
|
20,251
|
|
|
$
|
(51
|
)
|
Silver revenue (000s)
|
|
305
|
|
|
200
|
|
|
105
|
|
|||
Total revenues (000s)
|
|
$
|
20,505
|
|
|
$
|
20,451
|
|
|
$
|
54
|
|
Average realized gold price ($/oz)
|
|
$
|
1,345
|
|
|
$
|
1,237
|
|
|
$
|
108
|
|
Average realized silver price ($/oz)
|
|
$
|
16.63
|
|
|
$
|
18.00
|
|
|
$
|
(1.37
|
)
|
Non-GAAP Measures
|
|
|
|
|
|
|
||||||
Production cash costs per GEO sold
(1)(2)
|
|
$
|
497
|
|
|
$
|
410
|
|
|
$
|
87
|
|
(1)
Gold equivalent measures are the gold measure plus the silver measure divided by a GEO ratio. GEO ratios are computed by dividing the average realized gold price per ounce by the average realized silver price per ounce received by us in the respective period and match the ratios used to determine the production cash costs per GEO sold. Refer to the
Non-GAAP Performance Measure
s section of this MD&A for additional detail. Mined ounces are calculated using tons hauled to surface multiplied by the assays from production sampling.
|
||||||||||||
(2)
This is a non-GAAP measure; refer to the
Non-GAAP Performance Measures
section of this MD&A for additional detail.
|
|
|
Three months ended March 31,
|
||||||||||
Mine Operations - Midas
|
|
2018
|
|
2017
|
|
Change
|
||||||
Ore tons mined
|
|
23,761
|
|
|
40,153
|
|
|
(16,392
|
)
|
|||
Average gold equivalent mined head grade (oz/ton)
(1)
|
|
0.43
|
|
|
0.35
|
|
|
0.08
|
|
|||
Gold equivalent mined (oz)
(1)
|
|
10,174
|
|
|
14,065
|
|
|
(3,891
|
)
|
|||
Gold mined (oz)
|
|
9,398
|
|
|
9,279
|
|
|
119
|
|
|||
Silver mined (oz)
|
|
62,055
|
|
|
328,767
|
|
|
(266,712
|
)
|
|||
Ore tons milled
|
|
26,973
|
|
|
39,308
|
|
|
(12,335
|
)
|
|||
Average gold equivalent mill head grade (oz/ton)
(1)
|
|
0.42
|
|
|
0.32
|
|
|
0.1
|
|
|||
Average gold mill head grade (oz/ton)
|
|
0.36
|
|
|
0.22
|
|
|
0.14
|
|
|||
Average silver mill head grade (oz/ton)
(2)
|
|
4.98
|
|
|
7.43
|
|
|
(2.45
|
)
|
|||
Average gold recovery rate (%)
|
|
89.1
|
%
|
|
92.0
|
%
|
|
(0.029
|
)
|
|||
Average silver recovery rate (%)
(2)
|
|
77.6
|
%
|
|
84.2
|
%
|
|
(0.066
|
)
|
|||
Gold equivalent produced (oz)
(1)
|
|
9,878
|
|
|
11,453
|
|
|
(1,575
|
)
|
|||
Gold produced (oz)
|
|
8,583
|
|
|
7,873
|
|
|
710
|
|
|||
Silver produced (oz)
|
|
103,600
|
|
|
245,989
|
|
|
(142,389
|
)
|
|||
Gold equivalent sold
(oz)
(1)
|
|
10,565
|
|
|
12,782
|
|
|
(2,217
|
)
|
|||
Gold sold (oz)
|
|
9,416
|
|
|
8,781
|
|
|
635
|
|
|||
Silver sold (oz)
|
|
91,897
|
|
|
274,855
|
|
|
(182,958
|
)
|
|||
Revenues and realized prices
|
|
|
|
|
|
|
||||||
Gold revenue (000s)
|
|
$
|
12,512
|
|
|
$
|
10,860
|
|
|
$
|
1,652
|
|
Silver revenue (000s)
|
|
1,526
|
|
|
4,929
|
|
|
(3,403
|
)
|
|||
Total revenues (000s)
|
|
$
|
14,038
|
|
|
$
|
15,789
|
|
|
$
|
(1,751
|
)
|
Average realized gold price ($/oz)
|
|
$
|
1,329
|
|
|
$
|
1,237
|
|
|
$
|
92
|
|
Average realized silver price ($/oz)
|
|
$
|
16.61
|
|
|
$
|
18.00
|
|
|
$
|
(1.39
|
)
|
Non-GAAP Measures
|
|
|
|
|
|
|
||||||
Production cash costs per GEO sold
(1)(2)
|
|
$
|
1,092
|
|
|
$
|
981
|
|
|
$
|
111
|
|
(1)
Gold equivalent measures are the gold measure plus the silver measure divided by a GEO ratio. GEO ratios are computed by dividing the average realized gold price per ounce by the average realized silver price per ounce received by us in the respective period and match the ratios used to determine the production cash costs per GEO sold. Refer to the
Non-GAAP Performance Measure
s section of this MD&A for additional detail. Mined ounces are calculated using tons hauled to surface multiplied by the assays from production sampling.
|
||||||||||||
(2)
This is a non-GAAP measure; refer to the
Non-GAAP Performance Measures
section of this MD&A for additional detail.
|
|
|
March 31, 2018
|
||||||||||
|
|
Gold
|
|
Silver
|
|
Total
|
||||||
Estimated ounces in
Inventories
|
|
27,667
|
|
|
109,449
|
|
|
|
||||
Period-end prices
|
|
$
|
1,324
|
|
|
$
|
16.28
|
|
|
|
||
|
|
$
|
36,631
|
|
|
$
|
1,782
|
|
|
$
|
38,413
|
|
|
|
Three months ended March 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Net (loss) income
|
|
$
|
(7,998
|
)
|
|
$
|
(10,227
|
)
|
Net non-cash adjustments
|
|
13,531
|
|
|
10,942
|
|
||
Net change in non-cash working capital
|
|
2,477
|
|
|
(3,809
|
)
|
||
Net cash provided by (used in ) operating activities
|
|
8,010
|
|
|
(3,094
|
)
|
||
Net cash used in investing activities
|
|
(3,271
|
)
|
|
(17,927
|
)
|
||
Net cash (used in) provided by financing activities
|
|
(507
|
)
|
|
2,880
|
|
||
Effect of foreign exchange on cash balances
|
|
(143
|
)
|
|
59
|
|
||
Net increase (decrease) in cash, cash equivalents and restricted cash
|
|
4,089
|
|
|
(18,082
|
)
|
||
Cash, cash equivalents and restricted cash, beginning of period
|
|
33,229
|
|
|
57,691
|
|
||
Cash, cash equivalents and restricted cash, end of period
|
|
$
|
37,318
|
|
|
$
|
39,609
|
|
|
|
|
KLONDEX MINES LTD.
|
|
|
|
|
Registrant
|
|
Date:
|
May 3, 2018
|
|
By:
|
/s/ Paul Andre Huet
|
|
|
|
|
Paul Andre Huet
|
|
|
|
|
Chief Executive Officer
|
|
|
|
|
(Duly Authorized Officer)
|
|
|
|
|
|
|
|
|
|
|
Date:
|
May 3, 2018
|
|
|
/s/ Barry Dahl
|
|
|
|
|
Barry Dahl
|
|
|
|
|
Chief Financial Officer
|
|
|
|
|
(Principal Financial Officer and Chief Accounting Officer)
|
1 Year Klondex Mines Ltd. Chart |
1 Month Klondex Mines Ltd. Chart |
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