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Mandalay targeting gold production of up to 95 000 oz for 2025

18th December 2024

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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TSX-listed Mandalay Resources Corporation is targeting consolidated gold-equivalent production of between 85 000 oz and 95 000 oz as part of its production and cost guidance for 2025.

This includes gold output of between 76 500 oz and 85 000 oz and antimony production of between 1 050 t and 1 150 t.

Cash costs are projected at between $1 200 and $1 350 per gold-equivalent ounce, with all-in sustaining costs at between $1 795/oz and $1 975.oz.

Key investments for 2025 include between $18-million and $20-million in sustaining capital at the Costerfield gold-antimony mine, in Australia, and between $25-million and $28-million at the Björkdal gold mine, in Sweden.

The company expects stable production levels at Björkdal and a stronger output at Costerfield in 2026, following planned development work.

Mandalay CEO Frazer Bourchier describes 2024 as a transformative year, affirming that production guidance for the year will be met. The company reported robust cash flow and a debt-free balance sheet, emphasising its focus on sustainable growth and operational excellence.

Production results for the fourth quarter and full-year 2024 will be published on January 13, , with financial results to follow on February 20.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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