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.
Mandalay Resources Corporation (MNDJF) held its Annual General Meeting on May 26, 2021, where shareholders approved all resolutions, with 88.04% of shares voting by proxy.
CEO Dominic Duffy acknowledged the contributions of departing director Peter Jones and welcomed new board member Julie Galloway. During the meeting, the board of directors was confirmed with seven members, including the re-election of Bradford A. Mills as Chair. Ernst & Young LLP was re-appointed as the Company’s auditor, receiving 99.98% approval.
Mandalay Resources Corporation (MNDJF) reported strong financial results for Q1 2021, achieving revenue of $52.6 million, the highest since Q2 2016, and an adjusted EBITDA of $26.1 million, the third highest in its history. The consolidated net income reached $25.5 million, compared to a loss of $3.6 million in the same quarter last year. The company ended the quarter with a cash balance of $29.9 million, down from $34.2 million due to changes in payment terms and other one-time costs. Costerfield and Björkdal mines showed significant operational performance, contributing to the solid financial results.
Mandalay Resources Corporation (MNDJF) will release its first quarter 2021 financial results after market close on May 12, 2021. A conference call for investors and analysts will follow on May 13, 2021, at 8:00 AM Toronto time, hosted by CEO Dominic Duffy. The call can be accessed via participant numbers (201) 689-8341 and (877) 407-8289. Mandalay operates the Costerfield gold-antimony mine in Australia and the Björkdal gold mine in Sweden, focusing on increasing production and enhancing profitability.
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.