Mandalay Resources Corp. Reports Production and Sales Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Production and Capital Expenditure Guidance for the Full Year of 2016
For the year, the company produced a record total of 109,102 oz Au, record Sb production of 3,712 t and 2,545,984 oz Ag for the full year, representing a new record total of 166,679 Au Eq. oz. Production at Costerfield was a record 42,491 oz Au and 3,712 t Sb, versus 35,751 oz Au and 3,639 t Sb produced in 2014. Production at Cerro Bayo was 22,572 oz Au and 2,545,984 oz Ag in 2015, lower than the year-ago volumes of 27,600 oz Au and 3,329,519 oz Ag. Production at Björkdal was 44,039 oz Au.
For the quarter, the company sold 26,641 oz Au, 967 t Sb, and 623,184 oz Ag, representing a total of 39,877 oz Au Eq. Costerfield sold 11,402 oz Au and 967 t Sb. Cerro Bayo sold 5,854 oz Au and 623,184 oz Ag. Björkdal sold 9,385 oz Au.
For the year, the company sold 107,998 oz Au, 3,563 t Sb, and 2,778,836 oz Ag, representing a total of 167,808 oz Au Eq. Costerfield sold 40,686 oz Au and 3,563 t Sb. Cerro Bayo sold 24,489 oz Au and 2,778,836 oz Ag. Björkdal sold 42,823 oz Au.
For the full year of 2016, the company expects total saleable Ag production in the range of 2.9 oz million to 3.3 oz million. Total saleable Au production is expected to be in the range of 100,000 oz to 115,000 oz. Total saleable Sb production is expected to be in the range of 3.0 t to 3.5 t. Total saleable Au Eq production is expected to be in the range of 165,000 oz to 180,000 oz. Capital expenditure is expected to be in the range of USD 31 million to USD 37 million.