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Mangazeya Mining Ltd WHTGF

Mangazeya Mining Ltd is engaged in mineral exploration, development and production with a strategic focus on mineral properties in the Russian Federation with demonstrated potential for hosting economic mineral deposits consisting primarily of gold. The company's projects include Savkinskoye Deposit, Nasedkino gold ore, Zolinsko-Arkiinskaya, and Koryakmining. All of the company's revenues are derived from operations in the Russian Federation.


GREY:WHTGF - Post by User

Bullboard Posts
Post by production05on Sep 01, 2016 1:34pm
219 Views
Post# 25200044

Cdn $ Gold Price and Total Cash Cost Per Oz

Cdn $ Gold Price and Total Cash Cost Per OzOperational results were very solid, despite the flooding in the pits in early H1.  It is probably a testament to the quality of ops managers, pit crews and heap leach processing staff.

H1 gold price was Cdn $1,607.  H1 total cash cost per oz was Cdn $781.  As such, we realized a solid 51.4% op margin profit per oz (Cdn $826).

As a seasonal operating company, Q3 is typically our big quarter (both production and sales) and we are looking good going into this Q3 - actually, it is already 67% complete.

The Cdn $ gold price seems to have average around $1,740 per ounce in the first couple of months of Q3 thus far - even better than the H1 gold price.

It would be good for Mangazeya to finally be granted the TSX Venture approval (I don`t know what else it`s going to take - the company is already realizing a net profit on the bottom line) and then launch a promotional campaign (with both retail and institutional investors).



Bullboard Posts