Northern Vertex produced gold of 8,460 oz
Northern Vertex Mining announces its strongest quarter to date with revenue of $14.6 million, earnings from mine operations before depreciation and depletion of $3.8 million and cash provided by operating activities of $3.3 million.
Kenneth Berry, President and CEO, states: “During the quarter, record setting revenue of $14.6 million and earnings from mine operations, excluding depreciation and depletion, of $3.8 million represent significant improvements from previous quarters. Production of 8,460 gold ounces and 68,421 silver ounces represents our strongest quarter since announcing commercial production in September 2018.”
For the quarter ended September 30, 2019, Gold and silver sales for the quarter were 9,112 gold ounces and 73,495 silver ounces with average realized prices per ounce of $1,467 and $17.16 respectively. Earnings from mine operations, before depreciation and depletion, for the quarter was $3.79 million compared $0.21 million for the quarter ended September 30, 2018.
During the quarter, the Company stacked 9,738 contained gold ounces and 150,733 contained silver ounces and produced 8,460 gold ounces and 68,421 silver ounces. The crushing plant processed 452,858 tonnes of ore with an average gold grade of 0.67 g/t and an average silver grade of 10.35 g/t.
