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 (TSX: MND, OTCQB: MNDJF) has scheduled the release of its Q1 2025 financial results for May 07, 2025, after market close. The company will host a conference call and webcast for investors and analysts on May 08, 2025, at 10:00 AM Toronto time.
Mandalay is a Canadian natural resource company operating two producing assets: the Costerfield gold-antimony mine in Australia and the Björkdal gold mine in Sweden. The company focuses on increasing production, reducing costs, and generating positive cash flow. At Costerfield, operations center on the high-grade Youle and Shepherd veins, while Björkdal aims to enhance production from the Eastern Extension and North Zone areas.
Alkane Resources and Mandalay Resources have announced a merger of equals, creating a diversified gold and antimony producer. The combined company will operate under Alkane Resources, maintaining ASX listing while seeking TSX listing. Mandalay shareholders will receive 7.875 Alkane shares for each Mandalay share, resulting in a 55%/45% ownership split between Mandalay and Alkane shareholders respectively.
The merged entity will operate three mines: Tomingley (Australia), Costerfield (Australia), and Björkdal (Sweden), with projected gold equivalent production of ~160,000 ounces in 2025, increasing to ~180,000 ounces in 2026. The combined company will have A$188 million cash balance and an implied market capitalization of A$1,013 million.
The transaction, expected to close in Q3 2025, requires 66.67% approval from Mandalay shareholders and majority approval from Alkane shareholders. The merged company will be led by Alkane's Managing Director Nic Earner, headquartered in Perth, Australia.
Mandalay Resources (MNDJF) reports Q1 2025 production of 22,342 gold equivalent ounces, aligning with their 2025 guidance of 85,000-95,000 ounces. The company's operations include:
- Costerfield: 9,549 gold ounces and 161 tonnes of antimony produced
- Björkdal: 10,827 gold ounces produced, marking two consecutive quarters of increased production
Total gold equivalent sales reached 25,779 ounces in Q1 2025. The company has allocated $43-48 million in sustaining capital for mining flexibility and growth. Production rates are expected to increase in H2 2025. Both sites are implementing optimization initiatives, with Costerfield expanding sensor technology and automation, while Björkdal continues to improve following its mill conversion project completion in late 2023.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the filing of its Annual Information Form (AIF) and updated National Instrument 43-101 Technical Reports for its Björkdal gold mine in Sweden and Costerfield gold-antimony mine in Australia.
The technical reports, both dated March 28, 2025, with an effective date of December 31, 2024, were prepared by independent consultants. The Björkdal report was prepared by SLR Consulting, while the Costerfield report was prepared by SRK Consulting.
Mandalay's strategic focus includes:
- Growing production and reducing costs to generate significant positive cash flow
- At Costerfield: Mining high-grade Youle and Shepherd veins while expanding Resources & Reserves
- At Björkdal: Enhancing production from Eastern Extension and higher-margin zones like North Zone
Mandalay Resources reported record financial performance for 2024, with significant highlights including:
- Record revenue of $240.7M (39% increase from 2023)
- Free cash flow of $69.1M
- Cash balance increased to $76.4M from $26.9M
- Fully repaid $20M revolving credit facility
- Net income of $47.8M ($0.51 per share)
Q4 2024 performance showed:
- Revenue of $66.8M (32% increase from Q4 2023)
- Operating cash flow of $38.5M
- Net income of $20.7M ($0.22 per share)
- Consolidated cash operating cost of $1,085 per gold equivalent ounce
The company's 2025 guidance projects:
- Production of 85,000-95,000 gold equivalent ounces
- Cash cost of $1,200-$1,350 per gold equivalent ounce
- Planned investments of $43-48M in sustaining initiatives
Mandalay Resources (TSX: MND) has announced its participation in an upcoming live virtual corporate update hosted by Red Cloud Financial Services. The presentation is scheduled for January 15th, 2025, at 2:15 PM ET. Shareholders and interested parties are invited to attend the webinar, which will include a Q&A session moderated by Red Cloud following the presentation. The event will focus on Gold and Antimony commodities. A replay of the webinar will be made available to all registrants via email and on Red Cloud's website after the event.
Mandalay Resources (MNDJF) has announced a significant discovery at its Björkdal operation in Sweden - the North Zone Below Marble, a new underground mineral domain located 200 meters north of current operations. The discovery includes 18 interpreted veins over a 400m strike length and 250m height, with impressive gold intercepts including 178.9 g/t gold over 1.15m.
The company expects to include this discovery in a maiden Mineral Resource estimate in their year-end update (February 2025), potentially adding multiple years of mine life. Additional drilling success was reported in the Main Zone's Eastern Extension and Aurora Zone Extension, with notable intercepts of 115.8 g/t gold and 3.4 g/t gold respectively.
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