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MANGAZEYA MINING LTD ANNOUNCES ITS PRODUCTION RESULTS
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relic
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October 19, 2016 - 10:28 am
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MANGAZEYA MINING LTD ANNOUNCES ITS PRODUCTION RESULTS

 

TORONTO, ONTARIO, October 17, 2016 – Mangazeya Mining Ltd. (“Mangazeya” or the “Company”) (NEX: MGZ.H) is pleased to announce its production results for the third quarter and the nine months ended September 30, 2016.

Highlights:

  • Gold sales during 9m 2016 was 19.4 koz, an increase of 5% compared to the previous year, and gold production was 21.2 koz, a 0.7% increase y-o-y.Gold sales during 3Q 2016 was 12.8 koz, a 15.7% decrease compared to the previous year, andgold production for 3Q 2016 was 13.1 koz, a 18.1% decrease y-o-y.
  • During 9m 2016, total ore mined was 776 kt (a 13.3% decrease y-o-y) with the average grade 1.06 g/t (a 36.2% decrease y-o-y). In Q3 2016, total ore mined was 323 kt (a 22.6% decrease y- o-y) with the average grade 1.14 g/t (a 43.5% decrease y-o-y).
  • The average stripping ratio for 9m 2016 increased by 44.4% compared to the previous year.
  • For 9m 2016, total ore stacked was 954 kt (a 1.5% decrease y-o-y) with the average grade 1.21 g/t (a 15.5% decrease y-o-y). In Q3 2016, total ore stacked was 417 kt (-16.5% y-o-y) with the average grade 1.07 (-30.2% y-o-y).

                                            

  Q3 2016 Q3 2015 Y-o-Y

Change

  9m 2016 9m 2015 Y-o-Y

Change

Total rock moved, '000 m3 1,273 978 30.2%   3,559 2,971 19.8%
Stripping, '000 m3 1,124 785 43.2%   3,199 2,557 25.1%
Ore mined, kt 323 417 -22.6%   776 895 -13.3%
Stripping ratio, m3/t 3.5 1.9 84.9%   4.1 2.9 44.4%
Average grade in ore mined, g/t 1.14 2.02 -43.5%   1.06 1.66 -36.2%
Gold  in ore mined, kg 368 842 -56.2%   824 1,490 -44.7%
Ore stacked, kt 417 500 -16.5%   954 969 -1.5%
Average grade in ore stacked, g/t 1.07 1.53 -30.2%   1.21 1.43 -15.5%
Gold  in ore stacked, kg 444 763 -41.7%   1,153 1,386 -16.8%
Gold  production, koz 13.1 16.0 -18.1%   21.2 21.0 0.7%
Gold  sold, koz 12.8 15.2 -15.7%   19.4 18.5 5.0%

  Roman Kashuba, CEO of Mangazeya, commented: “Despite the difficulties due to unfavorable weather conditions and the significant quantity of primary ore resulted in increased stripping ratio and decreased grading, we do our best to cope with them and to end this year with solid results. We have also started preparation of the site for the next operating year.”

About Mangazeya Mining Ltd.

Mangazeya Mining Ltd. is a NEX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.

 Contact:

Roman Kashuba

Chief Executive Officer
Mangazeya Mining Ltd.
r.kashuba@mangazeya.ru

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relic
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October 19, 2016 - 10:59 am
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They have been getting extreme rain and flooding in the area: earth-chronicles.com/natural-catastrophe/heavy-rains-caused-a-flood-in-chita.html

Heavy rains caused a flood in Chita

 
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Power cheats introduced a state of “high alert” because of the fallen last night of a two-month norm of precipitation, the press service of the city hall.
 
The report notes that in the second half of Monday on the territory of the city district fell to 86 mm of precipitation at a monthly rate of 59 mm.
“It turns out that for half of the day fell nearly two norm of precipitation. This, of course, could not pass without consequences. There have been flooding and washouts of streets and roads cheats, flooding homes private residential sector, cooperative, and vegetable gardens. Heavy rainfall led to the disruption of the systems energy and water supply”, – quotes the press service of the chief of a municipal government on Affairs GO and CHS Gennady Komarov

According to the press service, during the night, the main efforts were aimed at helping people. All Chita caught in a difficult situation, proposed the evacuation to temporary shelters on the basis of secondary school №9, in which were placed four people, and the rest of the evacuation refused.

Registered violations in the work of the nine water supply and sanitation, All of this happened because of a power outage. At 5:00 local time, the work of almost all objects were restored with the exception of four wells at pumping station No. 14. They were connected later.

From the power supply was disconnected residential areas. Emergency crews of power engineers worked through the night.

Also identified 24 leaky roof, management companies have initiated rescue and recovery operations.

At the moment the priority is to work with the population. Identified new locations of flooding. Organized in accordance with the schedule of works for pumping water using equipment of OAO “Vodokanal – Chita” and PJSC “TGC-14”.

Powers of Committee of municipal economy of a city administration together with the municipal enterprises DMRS and “upgrading” a survey of the roads. When problems are emergency work.

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