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Mandalay: Output Declines In 2Q But To Pick Up In Next Two Quarters

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(Kitco News) - Mandalay Resources Corp. (TSX: MND) reports that output was lower in the second quarter than in the same period a year ago but looks for this to pick up in the next two quarters. The company produced 19,154 ounces of gold and 503 tonnes of antimony, representing 22,348 ounces of gold-equivalent production in the April-June period. In the same quarter a year ago, Mandalay produced 28,219 ounces of gold, 765 tonnes of antimony and 359,457 ounces of silver for 38,491 gold-equivalent ounces. “The second quarter of 2018 was a transitional production and sales quarter for Mandalay as the company began to transition production into the Brunswick Lode at Costerfield,” says Dominic Duffy, president and chief executive officer. “Over the next two quarters, we expect to see production lift at both operations due to the initiation of mining operations at Brunswick, and mining anticipated higher grades at Björkdal. Consequently, the company remains confident that it will reach its 2018 production guidance of 101,000 to 113,000 gold equivalent ounces.”

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