Post by
Bobwins on Oct 19, 2021 12:27pm
Production improving for Q3
Magna reported Q3 production of 19K oz of gold. Strip ratio down dramatically and approaching life of mine projections. With their low gold grades, Magna needs reasonable strip ratios to lower costs and improve efficiencies. Better times are ahead as 25K oz were placed on the heap leach pads. That should result in 21-23K production in Q4. In Q2, 21K was placed on the pad and resulted in the 19K propduction.
Magna has improved dramatically thru 2021. Production has increased each qtr from 7 to 11K to 19K. Company reiterates guidance of 55K to 65K for 2021.
https://finance.yahoo.com/news/magna-gold-reports-q3-2021-110000424.html