QUEBEC CITY, May 31, 2024 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" or the "Company") (TSXV:RBX) today reports operational and financial results for the first quarter ending March 31st, 2024 ("Q1 2024"). HIGHLIGHTS Safety of operations: Nampala and Kiniero accumulated 1.0 million hours worked without injury with lost time work; Ore mined increased to 680,558t (+20%) compared with Q1 2023, and the operating stripping ratio improved from 3.5x to 1.6x in Q1 2024; Ore processed increased to 551t (+5%), while treated ore grade and ore recoveries amounted at 0.82g/t and 89.5%, respectively; Gold production reached 12,957 ounces (+10%), at an All-In Sustaining Cost ("AISC") per ounce of gold sold1 of $1,134, down 23% from Q1 2023; Operating income stood at $11,755,444, an increase of 29% compared to Q1 2023, attributable to higher volume sold, improving gold price environment and cost optimization; Operating cash flow is positive at $20,907,386, up by 62% compared to Q1 2023, and; Cash and net debt1 stood at $16,604,181 and $43,796,068 respectively at the end of March 2024. Aurélien Bonneviot, Chief Executive Officer, commented: "Nampala continues to perform well and delivered another robust quarter of low-cost gold production. Most importantly, we continue to operate while maintaining strong safety and security standards. Robex is on track to achieve annual guidance of 45-49koz of gold at an AISC per ounce of gold1 of less than CAD$ 1,500/oz (equivalent to US$ 1,100/oz). The successful drilling campaign at Kiniero delivered solid resource conversion. We are currently working on engineering to increase design and throughput while advancing early works." CURRENCY Unless otherwise indicated, all references to "$" in this news release are to Canadian dollars. References to "US$" in this news release are to U.S. dollars. OPERATIONAL AND FINANCIAL SUMMARY   For Quarter EndingMarch 31st   SAFETY OF OPERATIONS Unit 2024   2023   Variation   Number of hours of work without lost time injury Mh 1.0   NA   NA             MINING OPERATIONS         Ore mined kt 681   569   20 % Waste mined kt 1,090   1,975   -45 % Operational stripping ratio x 1.6   3.5   -54 %           MILLING OPERATIONS         Ore processed kt 551   525   5 % Head grade g/t 0.82   0.77   6 % Recovery % 89.5   90.1   -0.6pts  Gold produced oz 12,957   11,735   10 % Gold sold oz 14,071   12,670   11 %           UNIT COST OF PRODUCTION             Total cash cost per ounce of gold sold(1) $/t 801   969   -17 % All-in sustaining cost (AISC) per ounce of gold sold(1) $/oz 1,134   1,472   -23 %           INCOME             Revenues – gold sales $000s 39,183   33,180   18 % Operating mining income $000s 17,242   16,128   7 % Operating income $000s 11,755   9,131   29 % Net income $000s (32,082 ) 6,849   -             CASH FLOW             Cash flow from operating activities $000s 20,907   12,909   62 % Cash flow from investing activities $000s (16,042 ) (11,304 ) 42 % Cash flow from financing activities $000s (60 ) 1,811   -   Increase in cash $000s 4,382   2,259   94 %           FINANCIAL POSITION         31st March2024   31st Dec.2023   Variation   Cash, End of Period ("EoP") $000s 16,604   12,222   36 % Net debt(1) EoP $000s 43,796   46,629   -6 % PRODUCTION AND OPERATION OVERVIEW Nampala production was 12,957 ounces for Q1 2024, compared to 11,735 ounces for the same period in 2023 ("Q1 2023"). This is attributable to increased plant productivity and higher feed content than anticipated. The increase in gold sales revenues by 18% in Q1 2024 to $39,182,893 compared to $33,179,878 in Q1 2023 is explained by a mix of higher gold sold (+1,401 ounces to 14,071 ounces) and higher realized selling price per ounce of gold sold1 of $2,785 (+6%). AISC per ounce of gold sold1 decreased to $1,134 in Q1 2024 from $1,472 in Q1 2023. This is due to increased production and optimized operational costs as well as a reduction in sustaining capital expenditures of $1,702,176. Operating mining ...