Mandalay Res Corp Stock Price, News & Analysis

Mandalay Resources has announced exciting developments regarding the newly-discovered Shepherd Zone at its Costerfield Operation in Victoria, Australia. The zone contains high-grade visible gold across two major veins, with drilling results including 23.6 g/t gold over 6.27 m and 426.7 g/t gold over 0.77 m. The discovery adds potential for further mineralization depth, hinting at an increase in gold deposits. The company plans to accelerate underground drilling to better understand this promising new structure, which supports its ongoing exploration strategy.

Mandalay Resources Corporation (MNDJF) reported strong operational results in Q1 2021, with consolidated saleable production of 28,676 ounces of gold equivalent, the highest since Q4 2017 and a third consecutive quarter of increased production. Key achievements included 23,857 ounces of gold sold, the highest quarterly total since Q1 2018, and 15,458 ounces produced at Costerfield, marking the site's best result since Q2 2016. The trial processing at Cerro Bayo yielded 43,699 ounces of silver and 724 ounces of gold. The company remains on track to meet its production guidance for 2021.

Mandalay Resources Corporation has filed its Annual Information Form for the year ended December 31, 2020, available on SEDAR and its website. The company also released updated NI 43-101 compliant Technical Reports for its Björkdal gold mine in Sweden and Costerfield gold-antimony mine in Australia, prepared by independent firms SLR Consulting Ltd. and Mining Plus. These reports provide detailed assessments of mineral resources and reserves, ensuring transparency for investors.

Mandalay Resources Corporation (MNDJF) announced its financial results for Q4 and full-year 2020, reporting strong growth. Q4 revenue reached $45.3 million, marking a 99% increase year-over-year. Full-year revenue hit $179.0 million, the highest since 2016. Adjusted EBITDA in Q4 was $25.3 million, a 436% surge from the previous year. Consolidated net income for Q4 was $14.7 million, with adjusted net income of $12.1 million. The cash cost per gold equivalent ounce produced improved by 21% to $843. The company ended 2020 with $34.2 million in cash, suggesting a robust financial position going into 2021.

Mandalay Resources Corporation (MNDJF) has reported a 25% increase in Proven and Probable Mineral Reserves for its Costerfield gold-antimony mine, along with a one-year extension of its mine life to 2024. The Björkdal gold mine in Sweden maintains a long mine life until 2029. Key highlights include the addition of 799,000 ounces of gold and 21,900 tonnes of antimony across both mines, with an exploration cost of $23.24 per gold equivalent ounce. CEO Dominic Duffy praised the successful exploration efforts and the resulting cash generation in 2020.

Mandalay Resources Corporation (MNDJF) is set to release its fourth quarter and full-year 2020 financial results on February 25, 2021, post-market closure. A conference call with CEO Dominic Duffy will follow on February 26, 2021, at 8:00 AM (Toronto time) for investors and analysts. Interested parties can join via provided dial-in numbers. Mandalay Resources focuses on increasing production from its gold and antimony operations in Australia and Sweden, aiming for improved cash flow.

Mandalay Resources Corporation (MNDJF) announced positive results from its Björkdal Depth Testing drilling program, highlighting 15 high-grade gold veins with notable intercepts: 92.2 g/t over 0.40 m, 32.5 g/t over 1.1 m, and 119.2 g/t over 0.44 m, among others. The exploration efforts aim to expand the existing mine life of over 10 years and shift focus to areas with higher-grade mineralization. The company expects ongoing infill drilling to define the extent of these veins, enhancing ore scheduling and production capacity at the Björkdal mine.

Mandalay Resources Corporation has announced preliminary results from its exploration at the Youle deposit in Costerfield, Australia. The initial intercepts revealed significant gold grades: 460.5 g/t over a width of 0.11 m from drill hole BC176 and 165.1 g/t over 0.20 m from the confirmatory wedge hole BC176W1. This discovery, approximately 90 meters below previous drilling, suggests a new mineralized structure. CEO Dominic Duffy expressed excitement over the findings, emphasizing their importance for the company's ongoing exploration efforts in 2021.

Mandalay Resources Corporation (MNDJF) reported strong Q3 2020 performance, producing 22,793 saleable gold ounces, the highest since Q4 2017, and 26,001 ounces of gold equivalent sold, the best since Q1 2018. Production at Costerfield reached 14,620 saleable gold equivalent ounces, a significant improvement driven by enhanced gold grades. Björkdal produced 11,044 saleable gold ounces, though below forecast due to dilution. The company anticipates meeting or exceeding its 2020 production guidance while increasing exploration spend by $1 million at Costerfield.