Mandalay Resources 2019 output meets guidance
Image courtesy of Mandalay
“Mandalay’s consolidated full-year 2019 production met the revised guidance as announced in October 2019, for gold, antimony and gold-equivalent ounces,” said Dominic Duffy, president and chief executive officer.
At Björkdal, full-year output of 51,498 gold ounces was a roughly 12% increase year-over-year, he noted.
“At Björkdal, in the fourth quarter, we were able to mine and process some of the higher-grade skarn zone material, after infill drilling was carried out during the third quarter,” the CEO said.
He said 2019 was a “challenging year” for the Costerfield operation as production was “severely impacted by excess dilution and poor recoveries from the Brunswick vein.” However, he also reported improved results for the fourth quarter due to production from the high-grade Youle vein.
“2020 is a transitional year for Mandalay as we expect to see continual growth from Costerfield, setting the company up for anticipated higher production figures in 2021,” Duffy said.
The company projected 2020 gold-equivalent output of 95,000 to 109,000 ounces.