MNDJF - Mandalay Resources reports 12% growth in Q1 gold equivalents' production

Mandalay Resources (MNDJF) reports Q1 production of 28,676 ounces of saleable gold equivalents, up from 25,677 ounces of production a year ago. Production includes: Gold, 23,661 ounces; Antimony, 832 tonnes; and Silver, 43699 ounces. Average quarterly prices of gold were US$1,795 per ounce, compared to 1,582 per ounces in 1Q 2020.On site basis, production at Björkdal was 11,855 ounces of gold (+10.3% Y/Y); Costerfield, 15,458 ounces of gold equivalents (+3.6% Y/Y), representing highest quarterly production since 2016; and Cerro Bayo, 1,363 ounces of gold equivalents compared to no production in 1Q 2020."A large part of the strong quarter was due to the continued high-quality ore from Costerfield, which averaged grades of 11.0 g/t gold and 3.9% antimony processed in the quarter. In Q1 2021, we saw a slight dip in grades compared to Q4 2020 – mainly related to the site purposefully feeding lower grade material into the plant while dealing with a lack of processing

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Mandalay Resources reports 12% growth in Q1 gold equivalents' production