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Mangazeya Mining earned more than $7 million in profit for 2019
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relic
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May 15, 2020 - 1:10 pm
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05/15/2020 // Mangazeya Mining earned more than C $ 7 million in profit for 2019

 

The company lost the loss, which in 2018 amounted to C $ 18.5 million.

May 15, 2020, NEDRADV. Gold mining company Mangazeya Mining Ltd published final financial results for 2019. The organization completed the reporting period with a profit of C $ 7.429 million. For comparison, in 2018 the company received a C $ 18.539 million loss.

Mangazeya's revenue increased 2.1 times, from C $ 37.211 million to C $ 79.925 million. The result was influenced by the growth in the production of precious metals and the increased cost of selling gold.

So, last year, revenue from the sale of gold amounted to C $ 79.7 million, silver - C $ 225 thousand. The average selling price of gold per ounce increased by 26%, to C $ 1 925. Production over the year doubled and amounted to 44.4 thousand ounces. Including, 29.4 thousand ounces were obtained at the Kochkovo field and 15 thousand ounces at the Savkinsky field (Trans-Baikal Territory).

2019 Mangazeya Mining financials, million Canadian dollars

Index
2019  2018  19/18
Gold production, thousand ounces 44,4 27.8 60%
Gold sales, thousand ounces 41.5 22.2 87%
The average selling price of gold, $ / ounce 1 925 1,528 26%
Revenue 79,925 37,211 115%
Net profit 7,429 -18,539 not relevant
Adjusted EBITDA 26,424 -9,045 392%

https://biznes-gazeta.ru/?id=news.view&obj=f5a417b9e2aa88fae3a18839de125350

 

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