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Cerro Bayo closure affects production at Mandalay

Wednesday, October 12, 2016 7:17
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(Before It's News)

Mandalay Resources’ (TSE:MND) production dipped slightly in its latest quarter as silver output from Cerro Bayo in Chile was affected by a death at the mine.

Overall, the miner produced 34,500 ounces (40,300) of gold equivalent in the three months to September.

Costerfield in Australia and Bjorkdal in Sweden both performed well but Cerro Bayo was completely shut for eight days after the fatality and the area where it occurred was closed for almost a month.

Mark Sander, chief executive, said the good results year-to-date for gold and antimony were due to consistently strong performance at both Costerfield and Bjorkdal.

“Bjorkdal produced 12,376 ounces of saleable gold in the current quarter, the second-best production quarter ever under Mandalay ownership and only slightly below production during the record second quarter of 2016.

“With Cerro Bayo restarting operations, we expect to issue updated company guidance for full-year 2016 production, together with our guidance for 2017, when we announce our third quarter financial results after market close on November 2, 2016.”

Production for the nine months so far was 114,000 ounces of gold equivalent versus 123,000 ounces at year ago. 

Story by ProactiveInvestors

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