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 announced its 2025 production and cost guidance. The company expects to achieve its 2024 guidance of 90,000-100,000 gold equivalent ounces and projects 2025 production of 85,000-95,000 gold equivalent ounces, including 76,500-85,000 ounces of gold and 1,050-1,150 tonnes of antimony.
The company forecasts 2025 cash costs of $1,200-$1,350 and all-in sustaining costs of $1,795-$1,975 per gold equivalent ounce. Planned sustaining capital expenditures total $43-$48 million, split between Costerfield ($18-$20 million) and Björkdal ($25-$28 million). Costerfield's 2025 production is expected at 43,000-48,000 gold equivalent ounces, with higher production anticipated in 2026.
Mandalay Resources reported strong Q3 2024 financial results with a 35% year-over-year revenue increase to $55.3 million. The company achieved a debt-free status with a cash balance of $54.7 million. Key highlights include $20.6 million in operating cash flow, consolidated net income of $5.4 million ($0.06 per share), and consolidated gold equivalent production of 20,323 ounces. Björkdal recorded its second-highest quarterly revenue of $28.0 million, while Costerfield generated $27.3 million. The company maintains its full-year guidance of 90,000-100,000 ounces despite Q3 being the lowest production quarter due to weather challenges at Björkdal and grade variability at Costerfield.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the release of its third quarter 2024 financial results after market close on November 06, 2024. A conference call with CEO Frazer Bourchier will follow on November 07, 2024, at 10:00 AM Toronto time. The company operates gold-producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), focusing on production growth and cost reduction. Their main objectives include mining the Youle and Shepherd veins at Costerfield and increasing production from the Eastern Extension area at Björkdal.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) has appointed John Jentz as an independent director to its Board of Directors, effective immediately. Mr. Jentz brings over 20 years of experience in mining operations, board governance, and M&A investment banking. He played a significant role in the growth of SEMAFO, a gold mining company that successfully acquired, developed, and operated four mines, leading to its eventual C$1 billion sale.
Mr. Jentz holds an HBSc degree from the University of Western Ontario, an MBA from McMaster University, and is a Chartered Professional Accountant (CPA). Bradford Mills, Executive Chair, expressed enthusiasm about the appointment, highlighting Jentz's extensive industry experience and track record in building successful mining operations.
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The company focuses on growing production, reducing costs, and generating significant positive cashflow while maintaining safe and environmentally responsible operations.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced its third quarter 2024 production results. Key highlights include:
- Quarter-end cash balance of $55 million
- Consolidated gold equivalent production of 20,323 ounces
- Consolidated gold equivalent sales of 21,551 ounces
- Full repayment of the outstanding balance on the revolving credit facility
The company produced 17,844 ounces of gold and 252 tonnes of antimony in Q3 2024. Björkdal mine produced 9,626 ounces of gold, while Costerfield mine produced 8,218 ounces of gold and 252 tonnes of antimony. Despite Q3 being the lowest production quarter, Mandalay expects to meet its full-year production guidance of 90,000 – 100,000 gold equivalent ounces.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) reports high-grade antimony and gold intercepts from drilling at its Costerfield operation in Victoria, Australia. Key highlights include:
1. Extension and infill drilling on Shepherd and Kendall veining with intercepts up to 751.7 g/t gold and 1.8% antimony over 0.22 m.
2. Promising results from drilling under Cuffley, including 550.0 g/t gold over 0.15 m.
3. Potential extension of the Cuffley system to the north with intercepts of 17.1 g/t gold and 0.3% antimony over 1.20 m.
The company focuses on near-mine exploration to extend mine life and leverage existing infrastructure. Drilling has increased confidence in surrounding areas with high-grade mineralization potential, particularly in the Cuffley Deeps and Cuffley North areas.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the resignation of Braam Jonker from its Board of Directors, effective August 30, 2024. Amy Freedman will take over as Lead Independent Director, and the company will begin searching for a new Independent Director. Mandalay, a Canadian-based natural resource company, operates gold mines in Australia (Costerfield) and Sweden (Björkdal). The company focuses on increasing production, reducing costs, and generating positive cash flow while maintaining safe and environmentally responsible operations. Mandalay's main objectives include mining high-grade veins at Costerfield, extending Mineral Reserves, and increasing production from higher-grade areas at Björkdal to maximize profit margins.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) reported strong financial results for Q2 2024, with consolidated revenue up 59% to $63.1 million compared to Q2 2023. The company achieved a cash balance of $62.9 million and a net cash position of $35.8 million. Key highlights include:
- Generated $24.1 million in operating cash flow and $15.6 million in free cash flow
- Consolidated net income of $15.9 million ($0.17 per share)
- Cash operating cost decreased 12% to $1,022 per gold equivalent ounce
- All-in sustaining cost decreased 17% to $1,419 per gold equivalent ounce
Björkdal recorded its highest quarterly revenue of $28.8 million, while Costerfield generated $34.3 million. The company fully repaid its $20 million Revolving Credit Facility balance, leaving it with no debt other than minor equipment leases.
Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the release date for its second quarter 2024 financial results. The results will be made public after market close on August 07, 2024, followed by a conference call and webcast on August 08, 2024, at 8:00 AM (Toronto time). Frazer Bourchier, President and CEO, will lead the call for investors and analysts. A replay will be available until August 15, 2024.
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The company focuses on growing production, reducing costs, and generating positive cashflow. Its main objectives include mining high-grade veins at Costerfield and increasing production from higher-grade areas at Björkdal.
Mandalay Resources reported a strong second quarter 2024, showing significant improvements in production and cash generation. The quarter-end cash balance rose to $63 million, a $16 million increase from the previous quarter. Consolidated gold equivalent production reached 26,372 ounces, a 32% increase from Q2 2023. Björkdal and Costerfield mines produced 12,599 and 13,773 gold equivalent ounces, respectively.
The company sold 26,759 gold equivalent ounces, a 32% rise from Q2 2023. Production at Björkdal was the highest since Q2 2019, while Costerfield saw a 32% production increase. Mandalay repaid the outstanding $20 million Revolving Credit Facility in July 2024.
For the first half of 2024, Mandalay produced 51,308 gold equivalent ounces, a 26% increase compared to H1 2023, and sold 52,036 gold equivalent ounces, a 24% rise. The company aims to maintain high production levels and optimize operations at both sites for the remainder of the year.