Northern Vertex Reports US$16.6 Million In Revenue For Second Quarter

Northern Vertex Mining Corp. (TSXV: NEE) announced this morning its financial results for the quarter ending June 30, 2021. The report highlighted a revenue of US$16.6 million, marginally up from US$16.4 million last quarter.

On the other hand, the mining firm was able to produce 7,054 gold ounces during the quarter, down from last quarter’s production of 8,787 gold ounces. Gold sales also slightly dipped to 8,045 ounces with average realized gold price of US$1,793 per ounce and cash costs of US$1,168 per ounce. These figures last quarter were 8,121 gold ounces sold with price of US$1,801 per ounce and cash costs of US$1,148 per ounce.

Further down the financials, the company posted US$0.7 million in net income this quarter, up from incurring a net loss of US$1.6 million last quarter.

The firm also ended the quarter with US$6.9 million in cash on hand, down from its last quarter’s end balance of US$13.9 million.

The Vancouver-based mining company relayed that it is employing a strategy to expand its Moss mine in Arizona, from which the company drilled a highlight assay of 3.22 g/t gold over 8.23 metres in June 2021, and explore the Hercules project in Nevada.

Northern Vertex Mining Corp. last traded at $0.29 on the TSX Venture.

Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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