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Cash margin per ounce (US$ per ounce)
"Cash margin per ounce" is defined as the "Average selling price of gold per ounce sold" in US$ less "Cash cost per ounce" in US$ for the period.
Three months ended Year ended December 31, December 31, 2012 2011 2012 2011 ----------------------------------------Average selling price of gold (per ounce sold) 1,709 1,655 1,669 1,667Cash cost (per ounce sold) 911 914 909 955 ----------------------------------------Cash margin per ounce 798 741 760 712
Adjusted net earnings (loss) and adjusted net earnings (loss) per share
"Adjusted net earnings (loss)" is defined as "Net earnings (loss)" less certain non-cash items: "Write-off of property, plant and equipment", "Share-based compensation", "Unrealized gain (loss) on investments", "Impairment on available-for-sale assets", "Gain on premium of flow-through shares" and "Deferred income and mining tax expense (recovery)".
"Adjusted net earnings (loss) per share" is obtained from the "Adjusted net earnings (loss)" divided by the "Weighted average number of common shares outstanding" for the period.
Three months ended Year ended December 31, December 31, 2012 2011 2012 2011 ------------------------------------------(in thousands of dollars,except per share)Net Earnings for the period 9,638 37,802 78,424 17,997Adjustments:Write-off of property, plant and equipment - 175 617 16,451Share-based compensation 2,017 2,999 9,629 10,779Unrealized loss on investments 5,424 1,604 6,969 10,119Impairment on available-for-sale assets 10,912 - 12,434 -Gain on premium of flow-through shares - (3,567) - (7,849)Deferred income and mining tax expense (recovery) 20,713 (9,976) 72,300 (7,000) ------------------------------------------Adjusted net earnings 48,704 29,037 180,373 40,497Weighted average number of common shares outstanding (000) 391,538 385,427 388,577 383,372 ------------------------------------------Adjusted net earnings per share 0.12 0.08 0.46 0.11
Cash generated from mine operations
"Cash generated from mine operations" is defined as "Revenues" for a certain period less "Production costs" (excluding non-cash "Share-based compensation") and "Royalties". "Cash generated from mine operations" less "Depreciation" and "Share-based compensation" results in "Earnings from mine operations".
(in $000's) Year ended December 31, 2012 -----------------------------Revenues 665,375Mine operating costsProduction costs(1) (350,844)Royalties (8,924) -----------------------------Cash generated from mine operations 305,607Depreciation (62,969)Share-based compensation (2,983) -----------------------------Earnings from mine operations 239,655(1) Production costs net of non-cash share-based compensation presentedseparately.
