WPG Resources Ltd. reported audited consolidated earnings results for the year ended June 30, 2017. For the year, the company reported total revenue of AUD 81,422,000 against AUD 1,515,000 a year ago. Loss before tax was AUD 9,056,000 against AUD 8,282,000 a year ago. Loss after tax from continuing operations was AUD 9,056,000 against AUD 8,282,000 a year ago. Total comprehensive loss attributable to owners was AUD 9,056,000 against AUD 8,282,000 a year ago. Diluted loss per share was 1.29 Australian cents per share against 2.31 Australian cents per share a year ago. Net cash flows from operating activities were AUD 21,093,000 against net cash flows used in operating activities of AUD 1,208,000 a year ago. Acquisition of plant and equipment was AUD 8,070,000 against AUD 11,000 a year ago. Development expenditure on mining interests was AUD 16,256,000 against AUD 389,000 a year ago. Exploration and evaluation expenditure on mining interests was AUD 2,297,000 against AUD 1,234,000 a year ago.
For the full year, production guidance for the combined Challenger and Tarcoola mining operations for the year to June 30, 2017 was in the range of 52,000 to 56,000 ounces. The actual combined production of 50,882 ounces from the Challenger and Tarcoola mining operations for the year to June 30, 2017 was 2% below the lower end of the guidance range.
For the fiscal year 2018, production guidance is 70,000 to 80,000 ounces.