Mandalay Res Corp Stock Price, News & Analysis

Mandalay Resources Corporation (MNDJF) reported its first quarter 2023 production and sales results on April 18, 2023. The company produced a total of 19,986 ounces of saleable gold equivalent, a significant drop from 29,631 ounces in the same quarter of 2022. Total sales also decreased, with 21,769 ounces of gold equivalent sold compared to 28,280 ounces a year prior. Production issues included lower processed grades at Costerfield and skilled labor shortages impacting output at Björkdal. Despite these challenges, the company maintains its guidance for 2023 production between 105,000 and 118,000 gold equivalent ounces. The average gold price for the quarter was $1,887 per ounce, showing a rise from previous periods.

Mandalay Resources Corporation (MNDJF) has filed its Annual Information Form for the year ended December 31, 2022. The report is accessible via the company’s profile on SEDAR and its website. Additionally, an updated National Instrument 43-101 compliant Technical Report has been filed, detailing operations at the Björkdal gold mine in Sweden. This report was prepared by SLR Consulting, with mineral resource estimates overseen by qualified geologists. Mandalay aims to enhance production and reduce costs, focusing on high-grade ore from the Costerfield and Björkdal mines, while prioritizing environmental responsibility and community engagement.

Mandalay Resources Corporation (MNDJF) announces the appointment of Frazer Bourchier as the new President and CEO, effective April 3, 2023. With over 32 years of industry experience, Bourchier previously held executive positions at Harte Gold Corp, Detour Gold Corporation, and Nevsun Resources Ltd. He aims to leverage Mandalay's diversified assets and healthy balance sheet to enhance growth and shareholder value. Current CEO Dominic Duffy will assist in the transition while remaining a non-executive director. The leadership change comes as the company prepares to maximize profits from its mining operations, particularly at Costerfield and Björkdal.

Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) announced updates on their drilling campaigns at the Costerfield Operation in Victoria, Australia, focusing on the Robinson and True Blue Prospects. The recent drilling at Robinson confirmed gold anomalism along a 350m strike but failed to replicate a previous exceptional grade of 1,780 g/t. At True Blue, two drill holes showed significant grades: 3.8 g/t gold and 4.3% antimony over 2.57m, with the highest intercept reaching 20.2 g/t. The company plans continued drilling in search of high-grade mineral fields, leveraging insights from past successes.

Mandalay Resources Corporation (MNDJF) reported its fourth-quarter and full-year 2022 financial results, revealing a consolidated revenue of $41.4 million in Q4, down 43% from Q4 2021. Full-year revenue totaled $191.7 million, with adjusted EBITDA of $91.2 million and free cash flow of $45.0 million. The company achieved a net cash position of $14.4 million at year-end, an improvement of $33.5 million. Costerfield's revenue stood at $25.8 million, while Björkdal generated $15.6 million. Adjusted net income for Q4 was $5.2 million, marking a tenth consecutive quarter of profitability.