Welcome to our dedicated page for Mandalay Res news (Ticker: MNDJF), a resource for investors and traders seeking the latest updates and insights on Mandalay Res stock.
This page aggregates historical news coverage for Mandalay Resources Corporation under its former U.S. OTCQB ticker MNDJF. Mandalay was a Canadian-based natural resource company with producing assets at the Costerfield gold-antimony mine in Australia and the Björkdal gold mine in Sweden, as described in its public news releases.
The news flow for MNDJF includes several distinct themes. Company exploration updates detail high-grade discoveries and drilling results at Costerfield, such as the True Blue prospect and the Brunswick South extension, which were reported as being near existing underground infrastructure. Other releases focus on near-mine exploration at Björkdal, including the Lake Zone Skarn, Main Zone (Eastern Extension), and North Zone below marble, where Mandalay highlighted high-grade intercepts and potential additions to mining inventory.
Another major category of news relates to corporate developments, particularly the merger between Mandalay Resources and Alkane Resources Limited. A joint release dated August 5, 2025 reports the closing of a statutory plan of arrangement under which Alkane acquired all of the issued and outstanding Mandalay shares. Related announcements cover shareholder approvals, court orders, regulatory clearances, and the expected delisting of Mandalay shares from the TSX and transition of the combined company to trade as Alkane Resources Limited.
Investors and researchers can use this news archive to review Mandalay’s historical operational performance, exploration results, and the steps leading to its acquisition by Alkane. Because Mandalay has been acquired and its shares were expected to be delisted, the MNDJF news stream serves as a record of the company’s activities prior to its integration into Alkane Resources Limited.
Alkane Resources (ASX: ALK) and Mandalay Resources (OTCQB: MNDJF) have completed their merger through a statutory plan of arrangement. Under the deal terms, Mandalay shareholders will receive 7.875 Alkane shares for each Mandalay share. The combined entity will operate as Alkane Resources Limited, maintaining ASX listing and adding TSX listing under symbol "ALK" around August 8, 2025.
The merger creates a significant dual-listed gold and antimony producer operating three mines across Australia and Sweden. The combined company projects 160,000 AuEq ounces production in FY2025, increasing to over 180,000 AuEq ounces in 2026. With pro forma cash of A$218 million, the company is well-positioned for growth through its operations in Costerfield (Victoria), Tomingley (NSW), and Björkdal (Sweden).
[ "Creation of a larger, dual-listed producer with enhanced market presence and liquidity", "Strong cash position of A$218 million to fund growth initiatives", "Projected production growth from 160,000 AuEq oz in FY2025 to over 180,000 AuEq oz in 2026", "Diversified portfolio with three cash-generating assets in premier jurisdictions", "Enhanced corporate scale expected to support valuation re-rating" ]Mandalay Resources (OTCQB: MNDJF) has received final approval from the Supreme Court of British Columbia for its previously announced arrangement with Alkane Resources. Under the terms of the arrangement, Mandalay shareholders will receive 7.875 Alkane ordinary shares for each Mandalay share held.
The final court order represents the last major condition for closing the arrangement, which is expected to complete on August 5, 2025. Mandalay Resources, a Canadian natural resource company, currently operates the Costerfield gold-antimony mine in Australia and the Björkdal gold mine in Sweden.
Mandalay Resources (OTCQB: MNDJF) is approaching a significant transformation through a merger of equals with Alkane, as discussed in CEO.CA's 'Inside the Boardroom' interview with CEO Frazer Bourchier. The merger will transform Mandalay from a $150 million market cap company into part of a $1 billion market cap entity.
The combined company is expected to achieve production of 160,000-180,000 ounces annually across three producing mines. The merger aims to create scale and diversification, with potential catalysts including ASX300 and JDXJ index inclusion that could drive a 50-100% re-rating of the company's valuation.
Mandalay Resources (OTCQB: MNDJF) has announced a significant high-grade gold discovery at Brunswick South, part of its operating Costerfield gold-antimony mine in Australia. The discovery is located just 300 meters from existing infrastructure along the Brunswick line.
Key drilling results include exceptional intercepts: 76.6 g/t Au over 0.49m in BD387, 265.0 g/t Au and 0.7% Sb over 0.29m in BD388, and 52.3 g/t Au over 1.69m in BD391. The veining extends over 175m strike length and 50m down dip.
The discovery comes ahead of Mandalay's anticipated merger with Alkane, set to close on August 5, 2025. The company has launched an extension drilling program using both surface and underground rigs to rapidly advance this discovery.
Mandalay Resources (OTCQB: MNDJF) announced that shareholders have overwhelmingly approved the arrangement with Alkane Resources, with 99.85% of votes in favor. Under the arrangement, Alkane will acquire all outstanding Mandalay shares.
The transaction, expected to complete around August 5, 2025, will create a dual ASX and TSX listed gold and antimony producer. Alkane plans to upgrade its U.S. listing from Pink Limited Market to OTCQX Market, enhancing visibility and liquidity for U.S. investors. The final court approval hearing is scheduled for August 1, 2025.
Mandalay Resources (OTCQB: MNDJF) reports significant exploration progress at its True Blue discovery near the Costerfield gold-antimony mine in Australia. The company has confirmed high-grade intercepts including 155.0g/t Au and 3.7% Sb over 0.30m and discovered a parallel vein yielding 11.7g/t Au and 6.5% Sb over 4.88m.
The exploration program has been accelerated with three surface drill rigs now operating, focusing on extending the high-grade central area and defining its structural framework. The drilling campaign has identified new parallel structures and potential offset extensions beyond the current mineral resource, suggesting significant growth potential.
The True Blue prospect, located 2km west of the Central Corridor, features a 4km-long soil geochemical anomaly. Current drilling has covered 600m of this strike length, with infill drilling expected to complete in Q3 2025.
Mandalay Resources (OTCQB: MNDJF) reports significant exploration success at its Björkdal mine in Sweden, highlighted by the discovery of a new high-grade skarn zone near existing mine infrastructure. The newly discovered Lake Zone Skarn yielded impressive results, including 34.2 g/t gold over 9.20m and 16.2 g/t gold over 19.00m.
The company's drilling program also delivered strong results in the Main Zone (Eastern Extension), confirming consistent mineralization down to 870m depth, and in the North Zone Below Marble, where drilling revealed high-grade intercepts up to 157.0 g/t gold. For H2 2025, Mandalay plans to focus on definition drilling at the Lake Zone Skarn, continue programs at the Main Zone, expand the North Zone, and conduct an 8,000-metre drill campaign at Storheden.
Mandalay Resources (OTCQB: MNDJF) reported Q2 2025 production of 22,554 gold equivalent ounces, keeping the company on track to meet its full-year guidance of 85,000-95,000 gold equivalent ounces. The company's cash position strengthened to $101 million, a $13 million quarter-over-quarter increase despite significant capital expenditures.
Production breakdown included 11,183 ounces from Björkdal and 11,371 gold equivalent ounces from Costerfield (comprising 8,145 ounces of gold and 137 tonnes of antimony). The company successfully commissioned a new 7-year capacity tailings dam at Costerfield, marking a significant milestone for future expansion potential.
Total sales reached 21,247 gold equivalent ounces for the quarter. The company is progressing toward a merger with Alkane, expected to close in early August, which would nearly double Mandalay's size and potentially trigger a valuation re-rate.
Mandalay Resources (OTCQB: MNDJF) has announced the mailing of its management information circular for a special shareholder meeting to approve a significant arrangement with Alkane Resources Limited. Under the proposed arrangement, Alkane will acquire all outstanding Mandalay shares, with shareholders receiving 7.875 Alkane shares for each Mandalay share held.
The virtual meeting is scheduled for July 28, 2025, with shareholders of record as of June 20, 2025 eligible to vote. Mandalay's board has unanimously recommended shareholders vote in favor of the arrangement, supported by fairness opinions from Haywood Securities and GenCap Mining Advisory. Subject to shareholder and court approvals, the transaction is expected to close on August 5, 2025.
Mandalay Resources (OTCQB: MNDJF) has received crucial approval from the Australian Foreign Investment Review Board (FIRB) for its proposed merger with Alkane Resources. The Supreme Court of British Columbia has granted an interim order authorizing a special shareholder meeting scheduled for July 28, 2025.
The transaction, unanimously approved by Mandalay's board, is expected to close in early August 2025, pending final court order and shareholder approvals from both companies. The merger aims to create a diversified mid-tier gold and antimony producer, leveraging enhanced scale and financial strength to drive shareholder value.
The management information circular will be mailed to beneficial shareholders on July 7, 2025.FAQ
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