Mandalay Res Corp Stock Price, News & Analysis

Mandalay Resources Corporation (MNDJF) reported its Q2 2022 financial results, highlighting a consolidated revenue of $50.1 million, down 2% year-over-year, with adjusted EBITDA at $20.3 million. The company saw a net cash flow from operations of $16.1 million and free cash flow of $7.5 million. Mandalay improved its balance sheet with $47.9 million in cash and aiming for a debt-free position. However, production issues at Björkdal impacted results, contributing to higher cash costs per ounce at $1,020, compared to $960 in Q2 2021.

Mandalay Resources Corporation (MNDJF) will release its Q1 2022 financial results on August 10, 2022, after market close. A conference call with CEO Dominic Duffy is scheduled for August 11, 2022, at 8:00 AM Toronto time for investors and analysts. The company focuses on growing production and reducing costs at its gold-antimony and gold mines in Australia and Sweden, and aims to generate positive cash flow. Current objectives include mining high-grade veins and increasing production from the Aurora zone to maximize profit margins.

Mandalay Resources Corporation (MNDJF) reported its second quarter 2022 production and sales results, revealing a total gold equivalent production of 23,305 ounces, down from 28,843 ounces in Q2 2021. Costerfield produced 14,989 gold equivalent ounces, while Björkdal produced 8,316 ounces. The decline in production was attributed to mining lower-grade areas, high sick leave rates due to COVID-19, and processing challenges. Despite lower production, the company anticipates improved grades in the latter half of 2022. Overall profitability remained strong, averaging 17.1 g/t gold equivalent head grade.

Mandalay Resources Corporation (MNDJF) announced updates on its Björkdal operation in Sweden, revealing significant gold intercepts from the North Zone drilling program. Highlights include:

• 155.0 g/t gold over 0.80 m
• 183.0 g/t gold over 0.45 m
• 64.8 g/t gold over 0.85 m

CEO Dominic Duffy expressed optimism about the potential increase in 2022 year-end mineral reserves. The company plans to shift drilling resources to the North Zone, further targeting areas with promising veining and mineralization.

Mandalay Resources reports successful results from the 2022 Robinson drilling program at its Costerfield Operation in Australia. The initial four drill holes intercepted visible gold near the historic Robinson Mine, with notable results including 1,780 g/t gold over 0.17 m in hole RB007. Visible gold was also detected in two other drill holes, with assays pending for further analysis. This prospect is significant as it lies within the current mining license and may indicate a downward continuation of historically productive veins. Future exploration efforts are planned to enhance understanding of mineralization.

Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) held its Annual General Meeting on May 25, 2022, where all proposed resolutions were approved. Shareholders, representing 67.63% of total shares, re-elected seven directors, including Bradford Mills as Chair and Abraham Jonker as lead independent director. Ernst & Young LLP was also re-appointed as the auditor. The company, focused on gold-antimony and gold production, aims to boost output and reduce costs while enhancing community engagement and environmental responsibility.

Mandalay Resources Corporation (MNDJF) reported strong financial results for Q1 2022, achieving net debt-free status with $50.4 million cash and $45.7 million total debt. Revenue was $54.2 million, a 3% year-over-year increase, driven by higher gold and antimony prices. Adjusted EBITDA reached $31.3 million, marking a 20% increase from Q1 2021. The company reported adjusted net income of $13.9 million ($0.15 per share) and consolidated net income of $10.5 million. Production figures were robust, especially at the Costerfield mine, with significant contributions from gold and antimony.

Mandalay Resources Corporation announced it will release its first quarter 2022 financial results after market close on May 11, 2022. A conference call featuring CEO Dominic Duffy will follow on May 12, 2022, at 8:00 AM (Toronto time). Interested parties can access the call using provided toll-free and local dial-in numbers. The company operates the Costerfield gold-antimony mine in Australia and the Björkdal gold mine in Sweden, focusing on increasing production and reducing costs. Mandalay aims to enhance shareholder value through efficient operations and exploration.

Mandalay Resources Corporation (MNDJF) reported strong first-quarter production results for 2022, producing 29,631 ounces of gold equivalent, up from 28,676 ounces in Q1 2021. Key highlights include a record gold output of 12,384 ounces from the Björkdal mine and a 12% increase in production at Costerfield to 17,247 ounces. Sales totaled 28,280 ounces of gold equivalent, slightly down from the prior year. Average gold prices rose to $1,874/oz. Despite challenges, such as shipping delays due to COVID-19, Mandalay is optimistic about sustaining growth throughout the year.