Kopy Goldfields Q2 21 - Higher-than-expected silver sales boost top line and EBITDA
-Silver sales pushing the top line and EBITDA beyond our estimates is at the core of the results-Negative net income was trimmed by non-cash hedge revaluation and stockpile write-down
-Lower-than-expected WC buildup and capex are temporary effects vanishing in H2 2021e
-Overall, the results are treated positively in light of the extensive sales of silver in Q2 2021
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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