Mandalay Res Corp Stock Price, News & Analysis

Mandalay Resources Corporation (MNDJF) announced its financial results for Q4 and full-year 2021, marking significant milestones. The company achieved record revenue of $229.4 million for the year and $72.9 million for the fourth quarter, with adjusted EBITDA of $115.0 million for 2021. Consolidated net income reached $54.9 million or $0.60 per share. The Costerfield site contributed $88.9 million in adjusted EBITDA, demonstrating strong operational performance. Mandalay ended 2021 with a cash balance of $30.7 million, which grew to $47.2 million by January 2022.

Mandalay Resources Corporation (MNDJF) announced that its fourth quarter and full-year 2021 financial results will be released on February 24, 2022, after market close. A conference call with CEO Dominic Duffy will take place on February 25 at 8:00 AM (Toronto time) for analysts and investors. Mandalay is focused on enhancing production and reducing costs across its gold and antimony mining operations in Australia and Sweden, aiming to create shareholder value while ensuring safe and environmentally responsible mining.

Mandalay Resources Corporation (OTCQB: MNDJF) announced significant updates on its Mineral Resources and Reserves as of December 31, 2021. The Costerfield mine's Proven and Probable gold reserves increased by 24%, extending its mine life to 2027. Björkdal's mine life was maintained until 2030, with a notable increase in Measured and Indicated Resources by 59,000 oz net of depletion. The total mineral reserves now stand at 854,000 oz of gold and 19,600 tonnes of antimony, showcasing successful exploration efforts and cost-effective resource additions.

Mandalay Resources Corporation (MNDJF) has reported promising drilling results from its Björkdal operation in Sweden, highlighting significant gold grades from recent exploration. Key findings include 47.7 g/t gold over 11.7 m and multiple high-grade intercepts in the Central Zone Extension area. The ongoing drilling campaigns indicate an upgrading of ore grades, which may enhance future production. In response to these results, a mining concession application has been submitted to extend license holdings. These developments mark a strategic focus on high-potential areas to maximize profitability.

Mandalay Resources Corporation (MNDJF) has announced strong production and sales results for Q4 and full-year 2021, exceeding guidance with a total of 123,002 ounces of gold equivalent produced, the highest since 2017. 2021 sales also reached a peak at 126,241 ounces, marking a 19% production and 26% sales growth year-over-year. For 2022, guidance estimates a production of 118,000 - 130,000 ounces at cash costs of $700 - $900 and all-in sustaining costs of $1,100 - $1,300. The company anticipates further development at its Costerfield and Björkdal mines.

Mandalay Resources Corporation has successfully completed the sale of its Cerro Bayo mine in Southern Chile to Equus Mining Limited. In exchange for 587,502,438 ordinary shares, Mandalay also retains a 2.25% net smelter royalty once production reaches at least 50,000 ounces of gold equivalent. The company is responsible for 50% of approved site closure costs. Mandalay's President and CEO expressed optimism for Equus's future development of the mine, highlighting mutual benefits from this transaction.

Mandalay Resources Corporation (MNDJF) reported solid financial results for Q3 2021, marking its seventh consecutive profitable quarter. The company achieved consolidated revenue of $52.6 million, a 6% increase year-over-year, with adjusted EBITDA of $25.1 million. Adjusted net income stood at $10.1 million ($0.11 per share), despite facing $5.5 million in delayed revenue due to COVID-19 shipping issues. Costerfield's cash cost was reported at $546 per gold equivalent ounce, the lowest since Q1 2016, while Björkdal continued to see stable production.

Mandalay Resources Corporation (MNDJF) will release its third quarter 2021 financial results after market close on November 9, 2021. Following this, a conference call with President and CEO Dominic Duffy will be held on November 10, 2021, at 8:00 AM (Toronto time) for investors and analysts. The company focuses on mining operations in Australia, Sweden, and Chile, aiming to enhance production and reduce costs for substantial cash flow. Key objectives include mining high-grade ore at Costerfield and increasing production at Björkdal.

Mandalay Resources Corporation (MNDJF) reports positive results from its recent drilling at Brown's Prospect, 2 km east of the Youle mine. The 17-hole diamond drill program confirmed a significant gold system with high-grade intercepts, including 19.5 g/t gold over 1.01 m in BWN009. The drilling identified two main mineralized trends, Felix and Western, with promising potential for further gold deposits at depth. The ongoing exploration indicates similarities to rich goldfields nearby, enhancing investor confidence in potential future discoveries.