10:39 AM EDT, 04/27/2018 (MT Newswires) -- Detour Gold (DGC.TO) which is down 28% to a fresh three year low this morning, reported Q1 2018 net earnings of $9.9 million or $0.06 per basic share. Q1 2018 Adj EPS was $28.2 million, or $0.16 per adjusted basic share, missing a forecast of $0.20 per adjusted share.

Detour reported adjusted net earnings of $5 million, or $0.03 per adjusted share for Q1 2017.

Q1 2018 gold production was 157,141 ounces, with total cash costs of $744 per ounce sold and all-in sustaining costs of $1,072 per ounce sold.

Based on a revised life of mine plan for its Detour Lake project, Detour now projects 2018 gold production of 595,000 to 635,000 ounces, falling from a previous range of 600,000 to 650,000. Its ASIC estimate rose to $1,200 to $1,280 from a range of $1,050 to $1,150 previously. 2018 free cash flow before financing activities are now estimated at $55 million compared to $115 million in prior guidance.

The company is in the process of completing its assessment and expects to release a revised life of mine plan in June 2018.

Price: 10.34, Change: -4.06, Percent Change: -28.2