Mandalay Res Corp Stock Price, News & Analysis

Mandalay Resources Corporation announced an updated Mineral Resource and Reserve estimate for its Björkdal gold mine as of December 31, 2022. The report highlights:

• Mineral Reserves increased by 32,000 ounces net of depletion.
• Gold grade of Mineral Reserves rose by 11% to 1.54 g/t.
• Measured and Indicated Resources increased by 72,000 ounces with a grade of 2.27 g/t.

Exploration efforts focused on the Eastern Plunge Extension significantly improved resource confidence. The exploration cost was effectively $31.47 per ounce. This supports Mandalay's strategy of enhancing production and shareholder value through targeted exploration.

Mandalay Resources Corporation (MNDJF) has announced the release of its fourth quarter and full-year 2022 financial results scheduled for February 23, 2023. Following this, a conference call led by President and CEO Dominic Duffy will take place on February 24, 2023, at 8:00 AM Toronto time. Investors can register for the conference call through a provided link or join via dial-in numbers. The company, which operates the Costerfield and Björkdal mines, is focused on increasing production and reducing costs. It aims to enhance shareholder value through profitable operations and ongoing exploration efforts.

Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) has received approval from the Toronto Stock Exchange for its normal course issuer bid (NCIB) to repurchase up to 4,622,835 common shares, representing 5% of its outstanding shares as of January 13, 2023. The NCIB will take place from January 18, 2023, to January 17, 2024. Purchases will occur through the TSX and alternative trading platforms at market prices. Mandalay has engaged BMO Nesbitt Burns Inc. to facilitate these purchases systematically. Funds for the buyback will come from surplus cash generated by operations.

Mandalay Resources Corporation reported its 2022 production and sales results, highlighting a total production of 105,906 saleable gold equivalent ounces, with sales of 106,094 ounces. The fourth quarter saw a production of 25,683 gold equivalent ounces. Guidance for 2023 indicates production between 105,000 and 118,000 ounces, alongside cash costs estimated at $800 to $975 per ounce. Key highlights include consistent production at Costerfield and Björkdal, although both mines faced challenges like lower grades and COVID-related labor issues. The company aims to enhance shareholder value through exploration investments totaling $10 to $14 million.

On December 6, 2022, Mandalay Resources announced the resignation of President and CEO Dominic Duffy for personal reasons, effective July 2023. Duffy will assist in the transition and remain on the board. Ryan Austerberry is promoted to Chief Operating Officer, effective December 15, 2022, having previously served as General Manager of Costerfield. The company’s strong financial position is highlighted, with successful operational improvements and significant exploration potential at its mines.

Mandalay Resources Corporation (MNDJF) reported its third-quarter financial results for 2022, achieving consolidated revenue of $46.0 million, a 13% decrease from $52.6 million in Q3 2021. Adjusted EBITDA was $19.4 million, down 23% year-on-year. Despite challenges, including an $11.5 million tax payment, the company maintained a solid cash position with $42.6 million on hand. Costerfield continued strong performance with revenue of $28.2 million, while Björkdal remained stable at $17.9 million.

Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) will announce its Q3 2022 financial results on November 09, 2022, after market close. The company will host a conference call for investors on November 10, 2022, at 8:00 AM Toronto time, led by CEO Dominic Duffy. Participants can join using a designated toll-free number. Mandalay focuses on enhancing production and cost reduction at its Australian and Swedish mines, aiming to boost shareholder value through profitable operations and efficient exploration of high-grade mineral reserves.

Mandalay Resources Corporation (MNDJF) reported its third-quarter 2022 production and sales results with a total of 27,287 ounces of gold equivalent produced and 26,551 ounces sold. The company revised its full-year production guidance to 106,000 – 115,000 ounces, down from 118,000 – 130,000 ounces due to COVID-related labor shortages and lower grades. Despite this, all-in sustaining costs remained stable, and capital expenditure guidance was reduced by $9 – $13 million to $41 – $45 million. Operational improvements are expected in Q4 as absenteeism decreases.

Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) has announced encouraging drill results from its Costerfield operation in Victoria, Australia. Recent infill drilling at the Shepherd zone revealed high-grade gold findings, including 377.4 g/t gold over 0.54 m. Drilling has confirmed and extended the northern and southern high-grade domains, with potential for a third mineralized vein discovered. Additional drilling is ongoing, aimed at further exploration and optimization of drilling positions. Mandalay remains focused on increasing production and exploring near mine resources.