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Claude Resources FY'15 earnings surge 610% YOY

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Claude Resources FY'15 earnings surge 610% YOY

Silver StandardResources Inc.'s takeovertarget Claude Resources Inc.said March 30 that its 2015 net earnings jumped 610% on a yearly basis to C$32.3million, or 17 Canadian cents per share.

Annual revenue grew 23% year on year to C$107.7 million, drivenby a 16% increase in gold sales volume and a 6% increase in Canadian dollar goldprices realized per ounce.

Claude Resources also reported record annual gold productionof 75,748 ounces.

All-in sustaining cost per ounce of gold sold were 14% lowerfrom 2014 at C$1,122.

In 2016, Claude Resources is expected to produce between 65,000 and 72,000 ounces of gold,and the company is confident it will generate strong earnings and free cash flowas unit cash costs and all-in sustaining costs are expected to be consistent with2015 levels.