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$MANDALAY RESOURCES CORPORATION CONFIRMS EXCELLENT
RESULTS FROM ITS BJÖRKDAL EASTWARD MINE EXTENSION
DRILLING AND REPORTS ENCOURAGING RESULTS FROM THE
NORTH ZONE DRILLING PROGRAM
TORONTO, ON, June 21, 2022 –
$BJÖRKDAL GOLD MINE, SWEDEN -
https://mandalayresources.com/site/assets/files/3469/2022_06_21_eastern_extension_and_north_zone.pdf
MANDALAY RESOURCES CORPORATION INTERSECTS 1,780 G/T
GOLD OVER 0.17 M IN ITS COSTERFIELD REGIONAL DRILLING
PROGRAM AT THE ROBINSON PROSPECT
$COSTERFIELD GOLD & ANTIMONY MINE IN AUSTRALIA - beside Fosterville
Kirklands Lake highgrade mine
The initial four holes in the 2022 Robinson program have intercepted visible gold
in the immediate surrounds of the historic Robinson Mine approximately 2 km
from Costerfield’s
operating underground infrastructure.
TORONTO, ON, June 09, 2022
https://mandalayresources.com/site/assets/files/3465/2022_06_09_robinson_exploration_v2.pdf
For Further Information
Dominic Duffy
President and Chief Executive Officer
Edison Nguyen
Director, Business Valuations and Investor Relations
Contact:
647.260.1566 ext. 1
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural resource company with producing assets in
Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate significant positive cashflow.
Mandalay is committed to operating safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay’s mission is to create shareholder value through the profitable operation and
continuing the regional exploration program, at both its Costerfield and Björkdal mines.
Currently, the Company’s main objectives are to continue mining the high-grade Youle vein at
Costerfield, bring online the deeper Shepherd veins, both of which will continue to supply highgrade ore to the processing plant, and to extend Youle Mineral Reserves. At Björkdal, the
Company will aim to increase production from the Aurora zone and other higher-grade areas in
the coming years, in order to maximize profit margins from the mine.
Forward-Looking Statements:
This news release contains "forward-looking statement
HIGH-POTENTIAL EXPLORATION UPSIDE
CONTINUING REGIONAL EXPLORATION
programs on known targets; seeking repetition of mineralization
BJÖRKDAL
Extensional drilling at aurora
Defining mineralization and assessing the economics of the high-grade skarn deposit
FULLY-FUNDED
Cash position of $34.2M at 2020 year-end affords Mandalay with the
financial flexibility to continue funding its exploration programs and
sets the Company up for future profitability and growth
COSTERFIELD
High-grade Youle vein the major growth catalyst
BJÖRKDAL
Ramping up underground production, focusing on higher-cash margin ore
2021 GUIDANCE
LATEST PRESENTATION
Q4 2020 PRODUCTION REPORT
Q4 AND YE2020 FINANCIAL
2020 RESERVES AND RESOURCES
https://mandalayresources.com/investors/why-invest/
https://mandalayresources.com/news/mandalay-resources-corporation-discovers-new-gold-rich-structural-domain-below-the-youle-mine-1/
https://mandalayresources.com/investors/investor-presentations/
https://www.mandalayresources.com
$In GOD We Trust - Real Money - AU Safety 6000yrs 
)
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.
$bigone MANDALAYS MAJOR PRODUCTION UPLIFT, STABLE OPERATIONS
GROWING PRODUCTION
from 81,568 oz gold equivalent in 2018 to 105-117,000 AuEq oz in 2021
$COSTERFIELD GOLD & ANTIMONY MINE IN AUSTRALIA - beside Fosterville
Kirklands Lake highgrade mine
Significant production growth expected via Youle vein
Deep hole drilling below Youle and Cuffley
Testing shallow targets around old-workings
Target and generative testing focus in 2021
$BJÖRKDAL GOLD MINE, SWEDEN -
Step change in underground production. Increasing underground production
with higher-grade ore from Aurora zone.
HIGH-POTENTIAL EXPLORATION UPSIDE
CONTINUING REGIONAL EXPLORATION
programs on known targets; seeking repetition of mineralization
BJÖRKDAL
Extensional drilling at aurora
Defining mineralization and assessing the economics of the high-grade skarn deposit
FULLY-FUNDED
Cash position of $34.2M at 2020 year-end affords Mandalay with the
financial flexibility to continue funding its exploration programs and
sets the Company up for future profitability and growth
COSTERFIELD
High-grade Youle vein the major growth catalyst
BJÖRKDAL
Ramping up underground production, focusing on higher-cash margin ore
2021 GUIDANCE
LATEST PRESENTATION
Q4 2020 PRODUCTION REPORT
Q4 AND YE2020 FINANCIAL
2020 RESERVES AND RESOURCES
https://mandalayresources.com/investors/why-invest/
https://mandalayresources.com/news/mandalay-resources-corporation-discovers-new-gold-rich-structural-domain-below-the-youle-mine-1/
https://www.mandalayresources.com
In GOD We Trust - Real Money -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Mandalay Resources C (MND)
2.45 ? 0.4 (19.51%)
Volume: 59,478 @12/13/21 3:59:56 PM EST
Bid Ask Day's Range
2.39 2.64 2.05 - 2.45
TSX:MND Detailed Quote
https://investorshub.advfn.com/Mandalay-Resources-Corporation-Elgin-Mining-Inc-6067
$bigone Is 2022 The Year For Mandalay Resources Corp. (MNDJF) Gold & Silver? If The Central Banks & Private Citizens Keep Buying, It Will Be!
699 views Dec 8, 2021
) Mandalay Resources / EPS $0.63 / PE Ratio 4.50 / )
@ Exchange
TSX
https://stockhouse.com/companies/quote?symbol=t.mnd
$Mandalay Resources High-Grade Gold Discovered at the Brown’s
Prospect
Oct 26, 2021
Mandalay Resources
Gold is About to Enter it's Next Leg-Up Michael Oliver:
22,838 views Nov 10, 2021
$Mandalay Resources Corporation Announces Financial Results for the Third Quarter of 2021 more
https://mandalayresources.com/
https://mandalayresources.com/news/
$MANDALAY RESOURCES CORPORATION ANNOUNCES FINANCIAL
RESULTS FOR THE SECOND QUARTER OF 2021
TORONTO, ON, August 11, 2021 --
Ex....
$Kirkland Lake Gold beside Mandalay's Mine High Grade -
KL should buy MNDJF which is very oversold & undervalued,
IMO!
Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
$Mandalay Resources Corporation ("Mandalay" or the
"Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce its financial results for the
quarter ended June 30, 2021.
The Company’s condensed and consolidated interim financial results for the quarter ended June
30, 2021, together with its Management’s Discussion and Analysis (“MD&A”) for the
corresponding period, can be accessed under the Company’s profile
on www.sedar.com and on
the Company’s website at
http://www.mandalayresources.com
$All currency references in this press
release are in U.S. dollars except as otherwise indicated.
Second Quarter 2021 Highlights:
• Quarterly revenue of $51.4 million – second highest since Q2 2016;
• Adjusted EBITDA of $23.1 million;
• $12.7 million free cash flow and $26.6 million in net cash flow from operating activities;
• Adjusted net income of $11.5 million ($0.13 or C$0.15 per share);
• Consolidated net income of $4.8 million ($0.05 or C$0.06 per share);
and
• Quarter ending cash balance of $39.1 million.
Dominic Duffy, President and CEO of Mandalay, commented:
“Mandalay Resources is pleased to deliver strong financial results for the second quarter of 2021,
as the Company continues to execute against our operational strategy and is on track to attain
our 2021 production and cost guidance.
During the second quarter, the Company generated $12.7 million in free cash flow and ended the
quarter with a cash balance of $39.1 million. As the Company continues to generate strong free
cash flow, the emerging strength of our balance sheet significantly improves our abilities to fund
near-term growth opportunities. During this quarter, the Company also repaid $3.8 million
towards our Syndicated Facility leaving $51.4 million owing.”
Mr. Duffy continued, “During the quarter the Company generated $51.4 million in consolidated
revenue and $23.1 million in adjusted EBITDA, resulting in an EBITDA margin of 45%, and a year
to date adjusted EBITDA of $49.2 million. Mandalay earned $11.5 million ($0.13 or C$0.15 per
share) in adjusted net income during the second quarter, marking our sixth consecutive quarter
of profitability.”
Mr. Duffy added, “Our consolidated cash and all-in sustaining costs per saleable gold equivalent
ounce during the second quarter of 2021 were $960 and $1,342, respectively, an increase as
compared to the $851 and $1,230 during the same period last year. The main reasons for this
were due to foreign exchange movements, with local currencies strengthening against the U.S.
dollar, a decrease in gold production at Björkdal for the quarter due to lower grade stoping and
increased infill exploration spend at both sites.
https://mandalayresources.com/site/assets/files/3116/mnd_q2_2021_fpr_final.pdf
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
• Consolidated saleable gold equivalent production of 28,843 ounces –
fourth consecutive
quarter of increased production; and
• Consolidated 28,115 ounces of gold equivalent sold – second highest
quarterly amount in
three years (since Q2 2018).
Dominic Duffy, President and CEO of Mandalay, commented:
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Extends Main Zone and Confirms the Eastern Extension of Lake Zone at Its Björkdal Operation
Mandalay Resources Corporation
June 29, 2021
https://ca.finance.yahoo.com/news/mandalay-resources-extends-main-zone-110000495.html
https://mandalayresources.com/site/assets/files/3094/2021_06_29_mz_lz_release_final.pdf
$This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
$MANDALAY RESOURCES CORPORATION ANNOUNCES FINANCIAL
RESULTS FOR THE SECOND QUARTER OF 2021
TORONTO, ON, August 11, 2021 --
Ex....
$Kirkland Lake Gold beside Mandalay's Mine High Grade -
KL should buy MNDJF which is very oversold & undervalued,
IMO!
Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
$Mandalay Resources Corporation ("Mandalay" or the
"Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce its financial results for the
quarter ended June 30, 2021.
The Company’s condensed and consolidated interim financial results for the quarter ended June
30, 2021, together with its Management’s Discussion and Analysis (“MD&A”) for the
corresponding period, can be accessed under the Company’s profile
on www.sedar.com and on
the Company’s website at
http://www.mandalayresources.com
$All currency references in this press
release are in U.S. dollars except as otherwise indicated.
Second Quarter 2021 Highlights:
• Quarterly revenue of $51.4 million – second highest since Q2 2016;
• Adjusted EBITDA of $23.1 million;
• $12.7 million free cash flow and $26.6 million in net cash flow from operating activities;
• Adjusted net income of $11.5 million ($0.13 or C$0.15 per share);
• Consolidated net income of $4.8 million ($0.05 or C$0.06 per share);
and
• Quarter ending cash balance of $39.1 million.
Dominic Duffy, President and CEO of Mandalay, commented:
“Mandalay Resources is pleased to deliver strong financial results for the second quarter of 2021,
as the Company continues to execute against our operational strategy and is on track to attain
our 2021 production and cost guidance.
During the second quarter, the Company generated $12.7 million in free cash flow and ended the
quarter with a cash balance of $39.1 million. As the Company continues to generate strong free
cash flow, the emerging strength of our balance sheet significantly improves our abilities to fund
near-term growth opportunities. During this quarter, the Company also repaid $3.8 million
towards our Syndicated Facility leaving $51.4 million owing.”
Mr. Duffy continued, “During the quarter the Company generated $51.4 million in consolidated
revenue and $23.1 million in adjusted EBITDA, resulting in an EBITDA margin of 45%, and a year
to date adjusted EBITDA of $49.2 million. Mandalay earned $11.5 million ($0.13 or C$0.15 per
share) in adjusted net income during the second quarter, marking our sixth consecutive quarter
of profitability.”
Mr. Duffy added, “Our consolidated cash and all-in sustaining costs per saleable gold equivalent
ounce during the second quarter of 2021 were $960 and $1,342, respectively, an increase as
compared to the $851 and $1,230 during the same period last year. The main reasons for this
were due to foreign exchange movements, with local currencies strengthening against the U.S.
dollar, a decrease in gold production at Björkdal for the quarter due to lower grade stoping and
increased infill exploration spend at both sites.
https://mandalayresources.com/site/assets/files/3116/mnd_q2_2021_fpr_final.pdf
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
• Consolidated saleable gold equivalent production of 28,843 ounces –
fourth consecutive
quarter of increased production; and
• Consolidated 28,115 ounces of gold equivalent sold – second highest
quarterly amount in
three years (since Q2 2018).
Dominic Duffy, President and CEO of Mandalay, commented:
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Extends Main Zone and Confirms the Eastern Extension of Lake Zone at Its Björkdal Operation
Mandalay Resources Corporation
June 29, 2021
https://ca.finance.yahoo.com/news/mandalay-resources-extends-main-zone-110000495.html
https://mandalayresources.com/site/assets/files/3094/2021_06_29_mz_lz_release_final.pdf
$This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
$MANDALAY RESOURCES CORPORATION ANNOUNCES FINANCIAL
RESULTS FOR THE SECOND QUARTER OF 2021
TORONTO, ON, August 11, 2021 --
Mandalay Resources Corporation ("Mandalay" or the
"Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce its financial results for the
quarter ended June 30, 2021.
The Company’s condensed and consolidated interim financial results for the quarter ended June
30, 2021, together with its Management’s Discussion and Analysis (“MD&A”) for the
corresponding period, can be accessed under the Company’s profile on www.sedar.com and on
the Company’s website at
http://www.mandalayresources.com
$All currency references in this press
release are in U.S. dollars except as otherwise indicated.
Second Quarter 2021 Highlights:
• Quarterly revenue of $51.4 million – second highest since Q2 2016;
• Adjusted EBITDA of $23.1 million;
• $12.7 million free cash flow and $26.6 million in net cash flow from operating activities;
• Adjusted net income of $11.5 million ($0.13 or C$0.15 per share);
• Consolidated net income of $4.8 million ($0.05 or C$0.06 per share);
and
• Quarter ending cash balance of $39.1 million.
Dominic Duffy, President and CEO of Mandalay, commented:
“Mandalay Resources is pleased to deliver strong financial results for the second quarter of 2021,
as the Company continues to execute against our operational strategy and is on track to attain
our 2021 production and cost guidance.
During the second quarter, the Company generated $12.7 million in free cash flow and ended the
quarter with a cash balance of $39.1 million. As the Company continues to generate strong free
cash flow, the emerging strength of our balance sheet significantly improves our abilities to fund
near-term growth opportunities. During this quarter, the Company also repaid $3.8 million
towards our Syndicated Facility leaving $51.4 million owing.”
Mr. Duffy continued, “During the quarter the Company generated $51.4 million in consolidated
revenue and $23.1 million in adjusted EBITDA, resulting in an EBITDA margin of 45%, and a year
to date adjusted EBITDA of $49.2 million. Mandalay earned $11.5 million ($0.13 or C$0.15 per
share) in adjusted net income during the second quarter, marking our sixth consecutive quarter
of profitability.”
Mr. Duffy added, “Our consolidated cash and all-in sustaining costs per saleable gold equivalent
ounce during the second quarter of 2021 were $960 and $1,342, respectively, an increase as
compared to the $851 and $1,230 during the same period last year. The main reasons for this
were due to foreign exchange movements, with local currencies strengthening against the U.S.
dollar, a decrease in gold production at Björkdal for the quarter due to lower grade stoping and
increased infill exploration spend at both sites.
https://mandalayresources.com/site/assets/files/3116/mnd_q2_2021_fpr_final.pdf
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
• Consolidated saleable gold equivalent production of 28,843 ounces –
fourth consecutive
quarter of increased production; and
• Consolidated 28,115 ounces of gold equivalent sold – second highest
quarterly amount in
three years (since Q2 2018).
Dominic Duffy, President and CEO of Mandalay, commented:
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Extends Main Zone and Confirms the Eastern Extension of Lake Zone at Its Björkdal Operation
Mandalay Resources Corporation
June 29, 2021
https://ca.finance.yahoo.com/news/mandalay-resources-extends-main-zone-110000495.html
https://mandalayresources.com/site/assets/files/3094/2021_06_29_mz_lz_release_final.pdf
$This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
https://youtu.be/7HcWQpojnHY
https://mandalayresources.com/news/mandalay-resources-extends-the-newly-discovered-shepherd-zone-and-provides-update-on-the-costerfield-mineral-system/
https://mandalayresources.com/news/
Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
T.MND | 7 hours ago
Eastern and Western veining horizons are extended in the Shepherd Zone, with numerous high-grade gold intercepts along a 400 metre strike extent
TORONTO, June 08, 2021 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to provide an update on the newly discovered Shepherd Zone at its Costerfield Operation in Victoria, Australia.
The Eastern vein has now been traced over 300 metres (“m”) of strike length and approximately 100 m in vertical extent. The mineralization remains open to the south and at depth (Figure 2).
The Western vein has now been traced over 400 m of strike length and approximately 100 m in vertical extent and remains open to the south and at depth (Figure 4).
$New Drilling Highlights:
Eastern Veining
172.3 g/t gold over true width of 0.27 m in BC213; and
69.5 g/t gold over true width of 1.11 m in BC210 including:
406.0 g/t gold over true width of 0.14 m
Western Veining
33.7 g/t gold over true width of 3.22 m in BC201 including:
127.0 g/t gold over true width of 0.69 m ;
712 . 8 g/t gold over true width of 0.10 m in BC205; and
19.4 g/t gold over true width of 4.84 m in BC210 including:
657.3 g/t gold over true width of 0.13 m
https://mandalayresources.com/news/
So in the coming weeks and months when you see MND going from its current
price to over $10 USD per share,
it will be because big money knows this is another FOSTERVILLE
and they will reprice the stock after the last of
the small retail investors are out.
IMHO the current yoyo trading action is a few market makers
trying to pick off the last of the few remaining loose shares.
by ganndolph1 (174) sth.
https://stockhouse.com/companies/bullboard?symbol=t.mnd&postid=33208812
$Costerfield = Fosterville = BESIDE KIRKLAND LAKE GOLD MINE = WHY KL
SHOULD BUY IT = at depth, where gold at depth is in high grade veins
in quartz with stibnite largely absent.
$The following link shows the Mandalay Resources drilling addressed in
the news release.
https://youtu.be/riDBUuHcT3M
$This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while
20,000 square meters times an average of 12.2 g/t over a 1.8 meter
mining width based on 4 holes equates to another 42,000 ounces of free
gold at the Western Vein.
Since these results are based on two drilling platforms confirming these
high grade gold intercepts from two different angles, small wonder why
the company has accelerated its exploration drilling program.
This reminds me of Crocodile Gold, except in the case of
Mandalay Resources, 80 percent of the stock is in the hands of large
institutional firms.
Yet their market makers are still capping this stock at
$2.00 USD per share, and hoping that retail investors would
cough up their shares at that bottom basement price.
$MAJOR PRODUCTION UPLIFT, STABLE OPERATIONS
GROWING PRODUCTION
from 81,568 oz gold equivalent in 2018 to 105-117,000 AuEq oz in 2021
$COSTERFIELD GOLD & ANTIMONY MINE IN AUSTRALIA -
Significant production growth expected via Youle vein
Deep hole drilling below Youle and Cuffley
Testing shallow targets around old-workings
Target and generative testing focus in 2021
$BJÖRKDAL GOLD MINE, SWEDEN -
Step change in underground production. Increasing underground production
with higher-grade ore from Aurora zone.
HIGH-POTENTIAL EXPLORATION UPSIDE
CONTINUING REGIONAL EXPLORATION
programs on known targets; seeking repetition of mineralization
BJÖRKDAL
Extensional drilling at aurora
Defining mineralization and assessing the economics of the high-grade skarn deposit
FULLY-FUNDED
Cash position of $34.2M at 2020 year-end affords Mandalay with the
financial flexibility to continue funding its exploration programs and
sets the Company up for future profitability and growth
COSTERFIELD
High-grade Youle vein the major growth catalyst
BJÖRKDAL
Ramping up underground production, focusing on higher-cash margin ore
2021 GUIDANCE
LATEST PRESENTATION
Q4 2020 PRODUCTION REPORT
Q4 AND YE2020 FINANCIAL
2020 RESERVES AND RESOURCES
https://mandalayresources.com/investors/why-invest/
https://mandalayresources.com/news/mandalay-resources-corporation-discovers-new-gold-rich-structural-domain-below-the-youle-mine-1/
https://www.mandalayresources.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
• Consolidated saleable gold equivalent production of 28,843 ounces –
fourth consecutive
quarter of increased production; and
• Consolidated 28,115 ounces of gold equivalent sold – second highest
quarterly amount in
three years (since Q2 2018).
Dominic Duffy, President and CEO of Mandalay, commented:
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Extends Main Zone and Confirms the Eastern Extension of Lake Zone at Its Björkdal Operation
Mandalay Resources Corporation
June 29, 2021
https://ca.finance.yahoo.com/news/mandalay-resources-extends-main-zone-110000495.html
https://mandalayresources.com/site/assets/files/3094/2021_06_29_mz_lz_release_final.pdf
$This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
$Mandalay Resources Corporation Announces Production and
Sales Results for the Second Quarter of 2021 and Change to
Senior Management
TORONTO, ON, July 14, 2021 —
https://mandalayresources.com/site/assets/files/3102/mnd_press_release_q2_2021_production_sales_finalv2_clean.pdf
$Mandalay Resources Corporation ("Mandalay" or the "Company")
(TSX: MND, OTCQB: MNDJF) announced today its production and sales
results for the second
quarter of 2021.
Second Quarter 2021 Production Highlights:
• Solid quarterly production at each site, with further production
improvements expected in
the coming quarters;
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
https://youtu.be/7HcWQpojnHY
https://mandalayresources.com/news/mandalay-resources-extends-the-newly-discovered-shepherd-zone-and-provides-update-on-the-costerfield-mineral-system/
https://mandalayresources.com/news/
Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
T.MND | 7 hours ago
Eastern and Western veining horizons are extended in the Shepherd Zone, with numerous high-grade gold intercepts along a 400 metre strike extent
TORONTO, June 08, 2021 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to provide an update on the newly discovered Shepherd Zone at its Costerfield Operation in Victoria, Australia.
The Eastern vein has now been traced over 300 metres (“m”) of strike length and approximately 100 m in vertical extent. The mineralization remains open to the south and at depth (Figure 2).
The Western vein has now been traced over 400 m of strike length and approximately 100 m in vertical extent and remains open to the south and at depth (Figure 4).
$New Drilling Highlights:
Eastern Veining
172.3 g/t gold over true width of 0.27 m in BC213; and
69.5 g/t gold over true width of 1.11 m in BC210 including:
406.0 g/t gold over true width of 0.14 m
Western Veining
33.7 g/t gold over true width of 3.22 m in BC201 including:
127.0 g/t gold over true width of 0.69 m ;
712 . 8 g/t gold over true width of 0.10 m in BC205; and
19.4 g/t gold over true width of 4.84 m in BC210 including:
657.3 g/t gold over true width of 0.13 m
https://mandalayresources.com/news/
So in the coming weeks and months when you see MND going from its current
price to over $10 USD per share,
it will be because big money knows this is another FOSTERVILLE
and they will reprice the stock after the last of
the small retail investors are out.
IMHO the current yoyo trading action is a few market makers
trying to pick off the last of the few remaining loose shares.
by ganndolph1 (174) sth.
https://stockhouse.com/companies/bullboard?symbol=t.mnd&postid=33208812
$Costerfield = Fosterville = BESIDE KIRKLAND LAKE GOLD MINE = WHY KL
SHOULD BUY IT = at depth, where gold at depth is in high grade veins
in quartz with stibnite largely absent.
$The following link shows the Mandalay Resources drilling addressed in
the news release.
https://youtu.be/riDBUuHcT3M
$This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while
20,000 square meters times an average of 12.2 g/t over a 1.8 meter
mining width based on 4 holes equates to another 42,000 ounces of free
gold at the Western Vein.
Since these results are based on two drilling platforms confirming these
high grade gold intercepts from two different angles, small wonder why
the company has accelerated its exploration drilling program.
This reminds me of Crocodile Gold, except in the case of
Mandalay Resources, 80 percent of the stock is in the hands of large
institutional firms.
Yet their market makers are still capping this stock at
$2.00 USD per share, and hoping that retail investors would
cough up their shares at that bottom basement price.
$MAJOR PRODUCTION UPLIFT, STABLE OPERATIONS
GROWING PRODUCTION
from 81,568 oz gold equivalent in 2018 to 105-117,000 AuEq oz in 2021
$COSTERFIELD GOLD & ANTIMONY MINE IN AUSTRALIA -
Significant production growth expected via Youle vein
Deep hole drilling below Youle and Cuffley
Testing shallow targets around old-workings
Target and generative testing focus in 2021
$BJÖRKDAL GOLD MINE, SWEDEN -
Step change in underground production. Increasing underground production
with higher-grade ore from Aurora zone.
HIGH-POTENTIAL EXPLORATION UPSIDE
CONTINUING REGIONAL EXPLORATION
programs on known targets; seeking repetition of mineralization
BJÖRKDAL
Extensional drilling at aurora
Defining mineralization and assessing the economics of the high-grade skarn deposit
FULLY-FUNDED
Cash position of $34.2M at 2020 year-end affords Mandalay with the
financial flexibility to continue funding its exploration programs and
sets the Company up for future profitability and growth
COSTERFIELD
High-grade Youle vein the major growth catalyst
BJÖRKDAL
Ramping up underground production, focusing on higher-cash margin ore
2021 GUIDANCE
LATEST PRESENTATION
Q4 2020 PRODUCTION REPORT
Q4 AND YE2020 FINANCIAL
2020 RESERVES AND RESOURCES
https://mandalayresources.com/investors/why-invest/
https://mandalayresources.com/news/mandalay-resources-corporation-discovers-new-gold-rich-structural-domain-below-the-youle-mine-1/
https://www.mandalayresources.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Mandalay Resources Extends Main Zone and Confirms the Eastern Extension of Lake Zone at Its Björkdal Operation
Mandalay Resources Corporation
June 29, 2021
https://ca.finance.yahoo.com/news/mandalay-resources-extends-main-zone-110000495.html
https://mandalayresources.com/site/assets/files/3094/2021_06_29_mz_lz_release_final.pdf
$bigone thanks; This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
$bigone thanks; This NR confirms that Costerfield = Fosterville at depth, where gold at
depth is in high grade veins
in quartz with stibnite largely absent.
This implies that the gold is all free gold recoverable at 90 percent
plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter
mining width based on 6 holes equates to about 115,000 ounces of free
gold over the Eastern Vein, while....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and
Provides Update on the Costerfield Mineral System
June 8, 2021
So in the coming weeks and months when you see MND going from its current
price to over $10 USD per share,
it will be because big money knows this is another FOSTERVILLE
and they will reprice the stock after the last of
the small retail investors are out.
IMHO the current yoyo trading action is a few market makers
trying to pick off the last of the few remaining loose shares.
by ganndolph1 (174) sth.
https://stockhouse.com/companies/bullboard?symbol=t.mnd&postid=33208812
$Costerfield = Fosterville = BESIDE KIRKLAND LAKE GOLD MINE = WHY KL
SHOULD BUY IT = at depth, where gold at depth is in high grade veins
in quartz with stibnite largely absent.
$The following link shows the Mandalay Resources drilling addressed in
the news release.
$Costerfield = Fosterville = BESIDE KIRKLAND LAKE GOLD MINE = WHY KL
SHOULD BUY IT = at depth, where gold at depth is in high grade veins
in quartz with stibnite largely absent.
$The following link shows the Mandalay Resources drilling addressed in
the news release.
bigone thanks; Some sizable numbers. We were with Mandalay a few years
ago.
$ganndolph, any comments? AlfTanner -
The following link shows the Mandalay Resources drilling addressed in
the news release.
$ganndolph, any comments? AlfTanner -
The following link shows the Mandalay Resources drilling addressed in
the news release.
$bigone thanks; MAJOR PRODUCTION UPLIFT, STABLE OPERATIONS
GROWING PRODUCTION
from 81,568 oz gold equivalent in 2018 to 105-117,000 AuEq oz in 2021
$COSTERFIELD GOLD & ANTIMONY MINE IN AUSTRALIA -
Significant production growth expected via Youle vein
Deep hole drilling below Youle and Cuffley
Testing shallow targets around old-workings
Target and generative testing focus in 2021
$BJÖRKDAL GOLD MINE, SWEDEN -
Step change in underground production. Increasing underground production
with higher-grade ore from Aurora zone.
HIGH-POTENTIAL EXPLORATION UPSIDE
CONTINUING REGIONAL EXPLORATION
programs on known targets; seeking repetition of mineralization
BJÖRKDAL
Extensional drilling at aurora
Defining mineralization and assessing the economics of the high-grade skarn deposit
FULLY-FUNDED
Cash position of $34.2M at 2020 year-end affords Mandalay with the
financial flexibility to continue funding its exploration programs and
sets the Company up for future profitability and growth
COSTERFIELD
High-grade Youle vein the major growth catalyst
BJÖRKDAL
Ramping up underground production, focusing on higher-cash margin ore
2021 GUIDANCE
LATEST PRESENTATION
Q4 2020 PRODUCTION REPORT
Q4 AND YE2020 FINANCIAL
2020 RESERVES AND RESOURCES
https://mandalayresources.com/investors/why-invest/
https://mandalayresources.com/news/mandalay-resources-corporation-discovers-new-gold-rich-structural-domain-below-the-youle-mine-1/
https://www.mandalayresources.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Mandalay Resources Corporation Intersects 0.11 Metres of 460.5 g/t
Gold and 0.20 Metres of 165.1 g/t Gold in Initial Stepout ...
January 29 2021 - 07:30AM
GlobeNewswire Inc.
Share On Facebook
Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND,
OTCQB: MNDJF) is pleased to provide preliminary details on the initial
intercepts into a newly discovered veining horizon underneath and
related to the Youle deposit at its Costerfield operations (Victoria,
Australia).
Highlights:
460.5 g/t gold over a partially recovered true width of 0.11 m in BC176;
and
165.1 g/t gold over a true width of 0.20 m in BC176W1 wedge hole off
BC176.
Notes:
True width of BC176 is quoted from only recovered core. There is
approximately an additional 40% of veined core that was not recovered.
Further intercept details can be found in Table 1 in the Appendix to this document.
Dominic Duffy, President and Chief Executive Officer of Mandalay, commented, “We are excited by the initial drill hole underneath the Youle deposit as it returned a very significant intersection of high gold grades in both the parent hole and confirmatory wedge hole approximately one metre away. At approximately 90 metres below the last intercept on Youle, this discovery may indicate a new gold mineralized structure below and separate from the high-grade Youle deposit. This is a major milestone for our exploration program so early in the year and reinforces our planned 2021 program of deeper drilling below several of the known deposits.”
The Initial Intercept
Study of the structural dynamics within and surrounding the Youle deposit highlighted the distinct probability of a continuation to auriferous veining within a subvertical geometry underneath the westerly-dipping Youle deposit. BC176 was the initial drill hole within the program to test this target. At approximately 90 metres below the deepest known intercept on Youle and 200 metres below current on vein development, BC176 intercepted a quartz structure with abundant visible gold (Figure 1 and 3). Unfortunately, the intercept was not fully recovered and it is estimated that approximately 40% of the intercept was ground away in the drilling process. 0.58 m (down hole length) of core containing the auriferous quartz vein was recovered assaying 460.5 g/t gold.
Figure 1. Photograph of the BC176 intercept with enlarged image of the gold seen on the edge of the core.
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c26085d-6aba-4324-b007-3b5b68ada343
As the intercept was not fully recovered, a casing wedge was set 20 m above the initial intercept and another capture of the vein was achieved approximately 1 m to the south. This time the vein was fully recovered and a 0.20 m vein was observed. Again, the vein exhibited grains of gold through the quartz alongside blebs of stibnite (Figure 2). This vein was also sampled and assayed at 165.1 g/t gold over a true width of 0.20 m.
Figure 2. Photograph of the BC176W1 intercept which is a twin of the initial poorly recovered BC176 intercept. The figure also shows an image of a gold grain approximately 2 mm in diameter taken under microscope.
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c860088-2d9e-4726-a166-669b3544252e
Measurements from the oriented core show this intercept to be subvertical to east dipping which is a stark contrast to the predominantly westerly dipping Youle vein, however, analogues can be found in the upper portions of Youle and the historic Costerfield mine where subvertical auriferous veining is prevalent. Within BC176 other quartz veining was intercepted including a west-dipping laminated quartz vein and another subvertical vein in the same orientation as the gold bearing vein. To date, gold has not been visually detected in the other veins and the remaining core has not yet been sampled. Structural interpretation and the relationship to Youle proper is also only preliminary at this time.
Drilling is ongoing to test the extent of the visually auriferous, veining and the parallel vein sets. Mandalay will continue to supply updates as more results become available.
Figure 3. Longitudinal section of Youle illustrating the location of the BC176 and BC176W1 intercept. As the intercepts are within 1m of each, one dot portrays both intercepts.
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ee0b9cb-729f-4940-8a7f-27d6cb8548b5
Notes:
True width of BC176 is quoted from only recovered core. There is approximately an additional 40% of veined core that was not recovered.
Drilling and Assaying
All diamond drill core was logged and sampled by Costerfield geologists. All samples were sent to OnSite Laboratory Services in Bendigo, Victoria, Australia, for sample preparation and analysis by fire assay for gold, and Atomic Absorption Spectroscopy (AAS) for antimony. Site geological and metallurgical personnel have implemented a QA/QC procedure that includes systematic submission of standard reference materials and blanks within batches of drill and face samples submitted for assay. Costerfield specific reference materials produced from Costerfield ore have been prepared and certified by Geostats Pty Ltd., a specialist laboratory quality control consultancy. See Technical Report entitled “Costerfield Operation, Victoria, Australia NI 43-101 Report” dated March 30, 2020, available on SEDAR (www.sedar.com) for a complete description of drilling, sampling, and assaying procedures.
Qualified Person:
Chris Davis, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (MAusIMM CP(Geo)), and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.
For Further Information
Dominic Duffy
President and Chief Executive Officer
Edison Nguyen
Manager, Analytics and Investor Relations
Contact:
647.260.1566
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The Company is focused on growing production at its gold and antimony operation in Australia, and gold production from its operation in Sweden to generate near term cash flow.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the exploration and development potential of the Youle deposit (Costerfield). Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading “Risk Factors” in Mandalay’s annual information form dated March 30, 2020, a copy of which is available under Mandalay’s profile at www.sedar.com. In addition, there can be no assurance that any inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Appendix
Table 1. Youle Extensional Drilling Composites
Drill Hole
ID From
(m) To
(m) Drill
Width (m) True
Width (m) Au Grade
(g/t) Sb Grade
(%) AuEq
(g/t) AuEq (g/t) over
min. 1.8m
mining width
BC176 194.67 195.25 0.58 0.11 460.5 0.1 460.6 28.1
BC076W1 194.96 195.32 0.36 0.20 165.1 0.0 165.1 18.3
Notes:
1. The AuEq (gold equivalent) grade is calculated using the following formula:
AuEq g per t = Au g per t + Sb% ×
Au price per g × Au processing recovery
Sb price per 10kg×Sb processing recovery
Figures used are based on a 9-month average from April through December of 2020: Au $/oz = 1,834 Sb $/t = 5,672 Au Recovery = 91.2% and Sb Recovery = 96.6%
2. True width of BC176 is quoted from only recovered core. There is approximately an additional 40% of veined core that was not recovered.
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Bjorkdal Gold Mine, Sweden
Costerfield gold and antimony mine in Australia
Mandalay Resources lifts full-year consolidated gold-equivalent
output guidance after strong 3Q in Australia
In the three months to end-September, the miner produced 22,793
consolidated saleable gold ounces, which was the best quarterly result
since the fourth quarter of 2017
At the Costerfield mine, the Youle vein continues to deliver excellent
results, the firm said
Mandalay Resources Corp. -
At the Costerfield mine, the Youle vein continues to deliver excellent
results, the firm said
Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) (FRA:R7X2) has
raised its guidance for full-year gold-equivalent ounce production
across its mines, thanks to a very strong performance from its
Australian operation in the third quarter.
In the three months to end-September, the miner produced 22,793
saleable
gold ounces from Costerfield in Australia, together with
Björkdal in Sweden, which was the best quarterly consolidated result
since the fourth quarter of 2017.
READ: Mandalay Resources reports "excellent" financial performance in
second quarter amid rising gold price
It was also the fourth consecutive quarter-over-quarter improvement in
consolidated saleable gold production.
"Mandalay continues to build upon the momentum generated during the
first half of the year by delivering another strong production and
sales quarter. We expect to fulfil or outperform our consolidated 2020
production guidance on a gold equivalent ounces basis ...," said
Dominic Duffy, the CEO of the metals miner.
Based on revised metals prices (namely, not those used for the forecast
in January this year), the firm now expects consolidated gold-
equivalent ounces to be between 100,000 and 109,000 ounces for the year
to December 31 - up from between 93,000 and 106,000 ounces.
At the Costerfield Gold & Antimony Mine,
the Youle vein continues to deliver excellent results, with the head
grades averaging 11.54 grams per ton (g/t) and
4.1% for gold and
antimony processed, respectively, the firm noted.
Overall, the mine produced 14,620 sale able gold equivalent ounces,
comprising 11,749 saleable gold ounces and 991 tonnes of saleable
antimony.
The 1,036 tonnes of antimony sold during the quarter was Mandalay's
highest quarterly level since the first quarter of 2014.
Over in Sweden and Björkdal Gold Mine,
Mandalay highlighted that third-quarter production of
11,044 saleable gold ounces was in-line with the previous quarter, but
due to "dilution challenges" that the firm is "addressing", the site
was tracking below forecast production levels in the year-to-date.
But Duffy added: "Production for the remainder of the year is expected
to see some improvements and the focus will remain on capital
development to advance further down into
the Aurora zone’s higher-grades lower levels.
Aurora’s capital development and definition drilling highlighting
multiple vein structures parallel to Aurora sets up
Björkdal for a significantly stronger 2021."
In the third quarter, Björkdal sold 11,511 ounces of gold, compared to
13,006 ounces in the same quarter of 2019, while Costerfield sold
11,489 ounces of gold and 1,036 tonnes of antimony.
That compares to 3,126 ounces of gold and 412 tonnes of antimony in the
same period last year.
Metals producer Mandalay has producing assets in Australia and Sweden,
and care and maintenance and development projects in Chile.
It aims to grow output at its gold and antimony operation in Australia,
and gold production from its mine in Sweden to generate near-term cash
flow.
Shares in Toronto advanced almost 6.9% to C$1.71 each.
---Updates for share price---
Contact the author at giles@proactiveinvestors.com
Quick facts: Mandalay Resources Corp.
Price: 1.72 CAD
TSX:MND
Market: TSX
Market Cap: $156.84 m
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2020-10-13
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Mandalay Resources Corp. T.MND
Alternate Symbol(s): MNDJF
Mandalay Starting to Wake Up -
Fostervile South Presentation -
This will give you a perspective of the players in South East Australia. Enjoy!!
https://fostervillesouth.com/wp-content/uploads/2020/04/Fosterville-South_Investor-Deck_2020-04-10.pdf
https://stockhouse.com/companies/bullboard?symbol=t.mnd&postid=31014515
Ps.
Its a long way to hike back UP - )
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