Kopy Goldfields - Maintaining full year guidance, growth on track
Despite a challenging Q1 following a COVID-19 outbreak at Yubileyniy in December 2020, Kopy Goldfields reported a competent set of H1 results, with EBITDA of US$14.0m (H120: US$17.8m) giving an EBITDA margin of 38% despite production down 14% y-o-y. Costs were well contained at US$859/oz (H120: US$861/oz). Kopy expects higher H2 production driven by the ramp-up of heap leach and placer operations and commissioning of Yubileyniy expansion. FY21 production guidance remains 56–59koz.Kopy Goldfield is a gold exploration company. Co. is an exploration company and has not yet started extraction of gold as the projects have not yet reached prodcution phase. Co. is the owner of fifteen licenses in and around the Lena Goldfield in the Bodaibo district in the Russian region of Irkutsk. Co. focuses on the Artemovsky district of Lena Goldfields, which is the target exploration area with 20 million ounces of historic alluvial gold production.
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