Post by
relic on Sep 02, 2020 2:18pm
Mangazeya Mining increased production by 38% in Jan-June
Mangazeya Mining increased production by 38% in Jan-June CHITA, September 1 - RIA Novosti / Prime. Mangazeya Mining Ltd (Mangazeya Group of Companies) produced 12.52 thousand ounces (389 kg) of gold in January-June 2020, which is 37.8% more than in the same period last year, the company said. "The growth is associated with active work at the Kochkovskoye deposit - an increase in the volume of extraction and laying of ore," the message explains. In the first half of the year, Kochkovskoye produced 9.47 thousand ounces (295 kg) of gold, which is double the figure for the same period last year. Total sales of gold from the Savkinskoye deposit increased, despite a 48% drop in production in the second quarter of 2020 and a total of 29% for the six months compared to the same period in 2019. Half-year sales were up 77% year-on-year, driven by sales of products received last year. In January-June, the company sold 13.52 thousand ounces (131 kg), which is 2.2 times more than in the first half of 2019, an increase in revenue as a result of an increase in the price of gold and sales volumes amounted to 179%. Gross profit of Mangazeya Mining Ltd increased 6 times to $ 12.26 million. Adjusted EBITDA was $ 8.48 million. "The company continues to explore new opportunities to expand its gold mining business and develop existing assets," said Roman Kashuba, chairman of the board of directors of Mangazeya Zoloto LLC. Mangazeya Mining Ltd is a company listed on the NEX Board (of TSX Venture Exchange, Toronto). The company owns all enterprises of the gold mining division of the Mangazeya Group, which conduct gold mining and exploration in the Trans-Baikal Territory, including the managing company Mangazeya Zoloto LLC. https://gold.1prime.ru/news/20200901/375445.html
Comment by
glory7 on Sep 02, 2020 5:32pm
Like flogging a dead horse but the results only get better, if only they want recognition seems they don't so here ..we are.Whats there plan like typical Russian style leave nothing for nobody.?