Northern Vertex Reports Fiscal Results for Six Months Ended December 31, 2020
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Northern Vertex Mining Corp. (TSX: NEE)
( Northern Vertex or the Company ) a U.S.-focused gold producer with district-scale exploration potential in the Walker Lane Trend, is pleased to announce audited financial results for its new fiscal year end to December 31
st. Results for the fiscal six months ended December 31, 2020 (
Stub Year ) included revenue of $52.7 million, Adjusted EBITDA of $23.3m, and a positive working capital position of $10.9m. All figures are expressed in USD unless otherwise noted, non-IFRS metrics are described later in this press release.
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2021 Guidance Highlights
Copper production guidance of 70 to 80 million pounds.
Gold production costs guidance of $475 to $525 per ounce.
All-in sustaining costs on a by-product basis
NG guidance of $850 to $900 per ounce is higher than 2020 primarily due to Kumtor processing lower grade material from its stockpiles on surface.
All-in costs on a by-product basis
NG guidance of $1,175 to $1,230 per ounce.
Total capital spending guidance of $430 to $480 million including capitalized stripping is higher than 2020 due to increased spending at Kumtor and Mount Milligan.
Total capitalized stripping guidance of $230 to $245 million including $220 to $230 million at Kumtor primarily for mining cut-back 20 and $10 to $15 million at Öksüt.
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