A A A
Avatar
Log In

Please consider registering
Guest

— Forum Scope —




— Match —





— Forum Options —





Min search length: 3 characters / Max search length: 84 characters

Register

Register Lost password?
sp_TopicIcon
Q2 2016 Production Results ~
RSS
Topic Rating: 0 (0 votes) 
Avatar
terrancekeenan
60 Posts
(Offline)
1
July 29, 2016 - 12:16 am
0

Here is Q2 NR - 6,300 oz gold production in Q2`16

Roman Kashuba, CEO of Mangazeya, stated: “We are in line with our annual production plan. The Company is on a stable production phase and we are looking forward another strong production year.”

 

MANGAZEYA MINING LTD ANNOUNCES ITS PRODUCTION RESULTS

 

Publish date: 19.07.2016

 

 
TORONTO, ONTARIO, July 18, 2016 – Mangazeya Mining Ltd. (“Mangazeya” or the “Company”) (NEX: MGZ.H) is pleased to announce its production results for the second quarter and the six months ended June 30, 2016.

HIGHLIGHTS:

 

  • Gold sales during 1H 2016 was 6.6 koz, an increase of 99.9% compared to the previous year, and gold production was 8.1 koz, a 43.9% increase y-o-y.
    Gold sales during 2Q 2016 was 5.5 koz, a 65.8% increase compared to the previous year, and gold production for 2Q 2016 was 6.3 koz, a 11.1% increase y-o-y.
  • In 1H 2016, total ore mined was 453 kt (-5.3% y-o-y) with the average grade 1.01 g/t (-25.7% y-o-y). In Q2 2016, total ore mined was 274 kt (-4.6% y-o-y) with the average grade 0.94 g/t (-33.8% y-o-y).
  • The average stripping ratio in 1H 2016 increased by 23.7% compared to the previous year.
  • In 1H 2016, total ore stacked was 537 kt (+14.4% y-o-y) with the average grade 1.32 g/t (-0.6% y-o-y). In Q2 2016, total ore stacked was 528 kt (+13.2% y-o-y) with the average grade 1.33 (the same level as in Q2 2015).
  Q2 2016 Q2 2015 Y-o-Y change H1 2016 H1 2015 Y-o-Y change
Total rock moved, ‘000 m3 1,209 992 21.9% 2,285 1,993 14.7%
Stripping, ‘000 m3 1,082 859 26.0% 2,076 1,772 17.2%
Ore mined, kt 274 288 -4.6% 453 478 -5.3%
Stripping ratio, m3/t 3.9 3.0 32.1% 4.6 3.7 23.7%
Average grade in ore mined, g/t 0.94 1.41 -33.8% 1.01 1.36 -25.7%
Gold in ore mined, kg 257 406 -36.8% 456 648 -29.6%
Ore stacked, kt 528 467 13.2% 537 469 14.4%
Average grade in ore stacked, g/t 1.33 1.33 0% 1.32 1.33 -0.6%
Gold in ore stacked, kg 701 620 13.1% 709 623 13.8%
Gold production, koz 6.3 5.6 11.1% 8.1 5.6 43.9%
Gold sold, koz 5.5 3.3 65.8% 6.6 3.3 99.9%

In the beginning of 2016 the Company has to exploit a new area of the second priority with lower grade due to temporary flooding of a particular pit area. As a result, the stripping ratio increased and average grade decreased.

Roman Kashuba, CEO of Mangazeya, stated: “We are in line with our annual production plan. The Company is on a stable production phase and we are looking forward another strong production 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.

Forum Timezone: America/Denver
All RSS Show Stats

Administrators:
admin

Moderators:
relic

Top Posters:

production05: 1042

nt300: 529

Carib: 416

doc: 409

Wingfong: 352

PayDay: 216

Newest Members:

BettyCof

Philipzem_1

Philipzem

MiguelCreva

Forum Stats:

Groups: 1

Forums: 1

Topics: 1497

Posts: 8777

 

Member Stats:

Guest Posters: 263

Members: 139

Moderators: 1

Admins: 1

Most Users Ever Online: 74

Currently Online:
5 Guest(s)

Currently Browsing this Page:
1 Guest(s)