Thursday, July 06, 2017 1:52:12 PM
MND.TO - still in the dumps but great buy opp
$CAD 145M MC @ 0.35 seems unreasonably low, even with Cerro Bayo mine accident and likely mine shut-down for several months as accident investigated.
Mandalay is still operating Bjorkdal (Sweden) and Costerfield (Australia) which generate most of the free cash flow and production for the company. This is from the 2016 full year Production PR and I'm guessing these two mines accounted for ~110k gold equivalent ounces per year.
Sales for the year ended December 31, 2016:
The Company sold 103,467 ounces gold, 3,573 tonnes antimony and 1,796,693 ounces silver, representing a total of 146,564 ounces of gold equivalent.
• Costerfield sold 40,161 ounces gold and 3,573 tonnes antimony.
• Cerro Bayo sold 15,419 ounces gold and 1,796,693 ounces silver.
• Björkdal sold 47,887 ounces gold.
This is the chart. There is no way MND goes below $.30 IMO as the only reason it dropped there in 2009 was because it went no-bid with the financial crisis and you can see there was no volume.
$CAD 145M MC @ 0.35 seems unreasonably low, even with Cerro Bayo mine accident and likely mine shut-down for several months as accident investigated.
Mandalay is still operating Bjorkdal (Sweden) and Costerfield (Australia) which generate most of the free cash flow and production for the company. This is from the 2016 full year Production PR and I'm guessing these two mines accounted for ~110k gold equivalent ounces per year.
Sales for the year ended December 31, 2016:
The Company sold 103,467 ounces gold, 3,573 tonnes antimony and 1,796,693 ounces silver, representing a total of 146,564 ounces of gold equivalent.
• Costerfield sold 40,161 ounces gold and 3,573 tonnes antimony.
• Cerro Bayo sold 15,419 ounces gold and 1,796,693 ounces silver.
• Björkdal sold 47,887 ounces gold.
This is the chart. There is no way MND goes below $.30 IMO as the only reason it dropped there in 2009 was because it went no-bid with the financial crisis and you can see there was no volume.
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