Mandalay Going to 150k Au Eq. Oz/year in 2014 PEA this morning for Costerfield Gold-Antimony mine states that "the Cuffley lode is expected to support a significant increase in mine production to 60,000 to 65,000 oz Au Eq. per year from the high-grade core of the lode through mid-2015".
It sounds like they will hit the 60,000 Au Eq. oz run-rate in 2014. They are on track for maybe 30,000-35,000 Au Eq. oz in 2013 from Costerfield. From Q2 Production PR:
Saleable production for the six months ended June 30, 2013:
• Saleable production at Costerfield was 13,082 oz Au and 1,504 t Sb.[/i]
I think that equates to 30-35k Au Eq. oz once you double gold production and then convert antimony. The Q2 PR states that "gold production guidance is increased to 21-25k gold ounces in 2013" but I've read that a couple time and don't think that number includes antimony credits for Au Eq. oz so 30-35k Au Eq. oz in 2013 seems fair.
So you have an increase of 30-35 Au-Eq. oz at Costerfield added to their 118-125 Au Eq. oz guidance for 2013..so that puts they as a 150 k oz producer in 2014. They have always under-promised and over-delivered too.
FWIW - If you remember the Denver Gold Formum presentation by CEO Brad Mills last summer he quoted that he "expects cash costs at costerfield to bottom out at $750" and the PEA states $766 cash costs. You have to take PEA's with a grain of salt. Either he was right or he optimzed PEA for those cash costs, but either way I think there is a relationship between his original quote and the PEA cash costs. Mandalay is a guidance-achieving machine.
Thanks to Retiredcf for finding all those analyst reccomendation videos. Not a conicidence that money managers like Manadaly. Former CEO on Lonmin running the little engine that keeps increaseing production and making dibby safer and safer.
https://finance.yahoo.com/news/mandalay-resources-announces-positive-preliminary-122300578.html