Full-year revenue was US$137.7 million, while cashflow was a record $26 million.
Superior delivered superior production, with the miner previously informing the market it had exceeded full-year guidance at 77,321 ounces, an increase of 23% over 2020, while costs were below all-in sustaining costs at $1472/oz, backed by a strong final quarter.
Year-on-year production for the December quarter was up 32% to 20,983oz, its seventh quarter of growth, while AISC were chipped down 16% to $1416/oz, which was despite a significant increase of in exploration and sustaining capital.
Based on sales of 21,143oz at $1786/oz, margins expanded to $370/oz, with the company now unhedged, debt-free, and positioned to benefit from high gold prices.
Cashflow increased $15.2 million year-on-year, allowing Superior to start 2022 with $24 million cash and equivalents.
CEO Chris Jordaan said Plutonic continued to deliver average stoping grades consistently above three grams per tonne, and surface grades expected to increase as the pits are optimised.
Looking ahead, the Plutonic underground continues to perform well, with continued exploration success along the Western and the Indian Access mining fronts, and surface mining in the Plutonic East and Perch open pits advancing into the deeper parts over this year.
Superior's 2022 guidance is for production of between 80,000-90,000oz, with the aim of achieving an annualised production rate of 100,000oz in the back half of the year. AISC are expected between $1450-1600/oz.
The March quarter is expected to be the weakest due to a planned mill maintenance program.
This year, the company expects to see larger, more productive stopes mined, helping reduce costs further.
It has budgeted up to $10 million in exploration this year, with a focus on both the emerging mining fronts, which remain open, and potential new open pit targets.
Superior shares were last traded up 9% at C98c, having hit a 12-month peak of $1 overnight.
The stock has traded as low as 45c over the past year.
