Industria
Mandalay Resources Announces 2025 Outlook and Guidance for Gold and Antimony Production
Frazer Bourchier, President and CEO, commented:
"2024 has been a transformative year as we built on the strong foundation from our two producing assets in premier jurisdictions. Our commitment to excellence remains steadfast with a focus on maintaining rigorous operational and safety metrics to enable robust cash flow. We are pleased to re-affirm that we will meet our 2024 production guidance. Our strong operating performance in 2024 allowed us to build a cash-rich balance sheet with no debt.
"Looking ahead to 2025, we expect to continue to generate robust cashflow from both gold and antimony production. Due to planned mine sequencing, we expect Costerfield's 2025 production to be 43,000 – 48,000 gold equivalent ounces followed by higher production in 2026. 2025 is a key mine development year at Costerfield with a planned investment of $18 – $20 million in sustaining capital, to enable mining flexibility, long-term growth, and sustained profitability.
"At Björkdal, gold production in 2025 is expected to remain consistent with 2024 levels, supported by stable processed grades and tonnage. Our plan continues to prioritize higher-margin underground material while leveraging the existing low-grade stockpiles to fully utilize the plant's 1.4 million tonne per annum capacity.
"Our planned exploration investment continues to underscore our commitment to replacing mine depletion, extending mine life, and pursuing near-mine discovery opportunities at both operations."
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.
Mandalay's mission is to create shareholder value through the profitable operation and successful exploration at its Costerfield and Björkdal mines. Currently, the Company's main objectives at Costerfield are to continue mining the high-grade Youle and Shepherd veins, and to extend Mineral Reserves. At Björkdal, the Company will aim to increase production from the Eastern Extension area and other higher-grade areas in the coming years in order to maximize profit margins from the mine.
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