Victoria Gold Announced 2Q and Half-Year 2021 Results

Victoria Gold reported operating earnings of $20.8 million and net income of $1.3 million or $0.02 per share on a basic and diluted basis.

SEATTLE (Scrap Monster): Victoria Gold announced operating and financial results for second quarter and half-yearly period of 2021.

The mine production by the company totalled 2.3 million tonnes of ore in Q2 this year. The gold production was 32,140 ounces, whereas the gold sales stood at 28,731 ounces at an average realized price of US$1,798 per ounce. This compares with gold production and sales of 28,352 ounces and 20,320 ounces respectively during Q2 last year.

ALSO READ:

Harte Gold Foresees Substantial Output Surge in 2021

Victoria Gold's Production in H2 2020 Surpassed Guidance

Victoria Gold reported operating earnings of $20.8 million and net income of $1.3 million or $0.02 per share on a basic and diluted basis. The EBITDA for the quarter was $28.4 million. As on June 30, 2021, the cash and cash equivalents stood at $14.8 million. Also, the company reported working capital surplus of $39.8 million.

The company produced 58,899 ounces of gold during the first half of the current year. It estimates gold production in excess of 120,000 during the second half, thus bringing the annual production closer to the lower end of the guidance range. The all-in sustaining costs (AISC) were US$1,535 per ounce.

Although the company has taken necessary precautions to mitigate the risk of Covid-19 on its operations, any future emergence or spread of organisms that cause disease could have material adverse impact on its business, the company press release said.

• Dubai Kicks Off 2025 with a Plastic Ban
• Canadian Miner Declared Commercial Production at Morocco Mine
• Quebec’s Recycling System Changes Goes into Effect in the New Year
• Gravita Launched Aluminum Recycling Operations in Ghana