MDKA – Posted a loss of USD15.22 mn in 2023

MDKA – Posted a loss of USD15.22 mn in 2023 Merdeka Copper Gold (MDKA) posted a loss of USD15.22 mn in 2023, after previously MDKA posted a profit in 2022 of USD3.11 mn. In fact, revenue in 2023 increased by 152% yoy (USD541 mn), but the increase was also offset by an increase in COGS which rose 177% yoy (USD507 mn). The increase in COGS was due to an increase in operating and production costs of USD425 mn, mainly in processing, mining and overhead costs. MDKA's royalty fee also rose to USD7.37 mn. (Source: Investor Daily)