Orosur Mining (LON:OMI, TSE:OMI) produced 53,485 ounces of gold during the year to 31st May, smack in the middle of the guidance given of 50,000-to-55,000 ounces.
During the period the company managed to cut central costs to US$2.9mln, down 17% on the year and down 45% over the past two years.
At the operating level margins remained skinny though, as all-in costs jumped to US$1,185 per ounce of gold, up from US$1,049 in the corresponding period a year ago.
Still, the average realised price per ounce of gold received remained above the US$1,200 mark, allowing the company to generate cash flow of US$10.6mln.
That in turn allowed for a reduction of total debt to US$1.5mln from US$5mln.
In addition the company has US$4.8mln in the bank and US$3mln in undrawn lines of credit from Banco Santander.
At the bottom line the picture was less pretty though, as the company booked impairment charges on exploration properties to the tune of US$27.9mln.
The loss before tax and impairment charges was US$6.8mln.
For the current year, Orosur plans to produce between 30,000 and 35,000 ounces of gold at all-in sustaining costs of between US$1,000 and US$1,100 per ounce.