May 11, 2020 / 4:27 PM / 17 days ago

BRIEF-Euro Ressources Q1 Net Profit Up At 5 Million Euros

May 11 (Reuters) - Euro Ressources SA:

* Q1 REVENUE 7.2 MILLION EUR VERSUS 5.9 MILLION EUR YEAR AGO

* Q1 NET PROFIT 5.0 MILLION EUR VERSUS 3.6 MILLION EUR YEAR AGO

* Q1 EPS 0.08 EUR VERSUS 0.057 EUR YEAR AGO

* CASH AT MARCH 31, 2020 TOTALED EUR 36.5 MILLION AS COMPARED TO EUR 31.6 MILLION AT DECEMBER 31, 2019

* EURO’S CASH FLOW IS EXPECTED TO BE PRIMARILY AFFECTED BY INCOME TAX PAYMENTS

* ON CORONAVIRUS: IMPACT OF CRISIS ON COMPANY’S RESULTS WAS NOT SIGNIFICANT IN Q1 OF 2020

* COMPANY MAINTAINS CERTAIN CASH AVAILABLE TO PURSUE OPPORTUNITIES THAT WOULD ENHANCE COMPANY’S LONG-TERM BUSINESS

* ON CORONAVIRUS: ADVERSE EFFECT ON COMPANY COULD BE SIGNIFICANT IN FUTURE PERIODS

* ROSEBEL ROYALTY PRODUCTION IS ANTICIPATED TO BE BETWEEN 180,000 OUNCES AND 200,000 OUNCES IN 2020

* IN 2020, ROSEBEL ROYALTY IS EXPECTED TO PROVIDE REVENUES TO COMPANY OF BETWEEN APPROXIMATELY EUR 18.0 MILLION AND EUR 20.1 MILLION (US$20.1 MILLION AND US$22.5 MILLION)

* IMPACT OF CHANGES IN AVERAGE GOLD PRICE ON EURO’S ANNUAL REVENUES, BASED ON AN ESTIMATED PRODUCTION OF 190,000 OUNCES, WOULD BE APPROXIMATELY US$1.9 MILLION FOR EACH US$100 PER OUNCE CHANGE IN GOLD PRICE

* IMPACT OF A 5% CHANGE IN AVERAGE FOREIGN EXCHANGE RATE ON EURO’S ANNUAL REVENUES WOULD BE APPROXIMATELY EUR 1.0 MILLION

* DURING Q1 OF 2020, COMPANY RECORDED OPERATING EXPENSES OF EUR 0.12 MILLION COMPARED TO EUR 0.14 MILLION DURING SAME PERIOD IN 2019 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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