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 has announced promising results from its recent drilling campaigns near the Björkdal Mine in Sweden. Over 6,295 meters of diamond drilling across 26 holes targeted high-priority zones, yielding significant gold intercepts at Lapptjärn and Granholm. Lapptjärn recorded 5.3 g/t gold over 7.05 meters and 8.6 g/t gold over 0.70 meters, while Granholm showed 14.9 g/t gold over 0.5 meters. The exploration also identified semi-massive sulphide with elevated zinc and copper at Tarsnäs. Future efforts will include targeted geophysical surveys to further explore these promising areas.
Mandalay Resources announced the outcomes of its Annual General Meeting held on May 28, 2024. The shareholders approved all the resolutions presented, with proxy votes representing 39.14% of outstanding shares. Seven directors were re-elected, including Bradford Mills as Chair and Abraham Jonker as lead independent director. KPMG LLP was reappointed as the company's auditor. Mandalay Resources is focused on increasing production and reducing costs at its Australian and Swedish mines, aiming for high-grade exploration and maximizing profit margins.
Mandalay Resources announced significant progress in its regional exploration program at the Björkdal Norrberget gold deposit, extending the deposit by approximately 120 meters or 80%. Notable assay results include 13.3 g/t gold over 5.55 meters and 17.5 g/t gold over 1.50 meters at Norrberget, and 17.2 g/t gold over 1.30 meters and 12.1 g/t gold over 1.40 meters at the Vidmyran target located nearby. The company aims to further investigate the strong growth potential in the Norrberget deposit with more drilling planned from spring to summer 2024. This program highlights the potential for resource growth within Mandalay's tenement holdings.
Mandalay Resources reported strong first-quarter financial results for 2024, with significant revenue growth, improved cash position, and enhanced cost efficiency. The company saw a 32% increase in consolidated revenue, reaching $55.5 million, along with a consolidated net income of $5.9 million. Costs per gold equivalent ounce produced decreased, contributing to a healthy balance sheet and increased cash flow. Both Björkdal and Costerfield mines performed well, achieving record quarterly revenues. The company remains committed to disciplined capital allocation and exploration spending to drive future growth.
Mandalay Resources announced the release date for its first quarter 2024 financial results and a conference call with the CEO. The financial results will be released on May 08, 2024, with the conference call on May 09, 2024. Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, focusing on growing production and reducing costs to generate positive cashflow.
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