MANDALAY RES CORP - MNDJF STOCK NEWS

Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced its 2025 production and cost guidance. The company expects to achieve its 2024 guidance of 90,000-100,000 gold equivalent ounces and projects 2025 production of 85,000-95,000 gold equivalent ounces, including 76,500-85,000 ounces of gold and 1,050-1,150 tonnes of antimony.

The company forecasts 2025 cash costs of $1,200-$1,350 and all-in sustaining costs of $1,795-$1,975 per gold equivalent ounce. Planned sustaining capital expenditures total $43-$48 million, split between Costerfield ($18-$20 million) and Björkdal ($25-$28 million). Costerfield's 2025 production is expected at 43,000-48,000 gold equivalent ounces, with higher production anticipated in 2026.

Mandalay Resources reported strong Q3 2024 financial results with a 35% year-over-year revenue increase to $55.3 million. The company achieved a debt-free status with a cash balance of $54.7 million. Key highlights include $20.6 million in operating cash flow, consolidated net income of $5.4 million ($0.06 per share), and consolidated gold equivalent production of 20,323 ounces. Björkdal recorded its second-highest quarterly revenue of $28.0 million, while Costerfield generated $27.3 million. The company maintains its full-year guidance of 90,000-100,000 ounces despite Q3 being the lowest production quarter due to weather challenges at Björkdal and grade variability at Costerfield.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the release of its third quarter 2024 financial results after market close on November 06, 2024. A conference call with CEO Frazer Bourchier will follow on November 07, 2024, at 10:00 AM Toronto time. The company operates gold-producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), focusing on production growth and cost reduction. Their main objectives include mining the Youle and Shepherd veins at Costerfield and increasing production from the Eastern Extension area at Björkdal.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) has appointed John Jentz as an independent director to its Board of Directors, effective immediately. Mr. Jentz brings over 20 years of experience in mining operations, board governance, and M&A investment banking. He played a significant role in the growth of SEMAFO, a gold mining company that successfully acquired, developed, and operated four mines, leading to its eventual C$1 billion sale.

Mr. Jentz holds an HBSc degree from the University of Western Ontario, an MBA from McMaster University, and is a Chartered Professional Accountant (CPA). Bradford Mills, Executive Chair, expressed enthusiasm about the appointment, highlighting Jentz's extensive industry experience and track record in building successful mining operations.

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 focuses on growing production, reducing costs, and generating significant positive cashflow while maintaining safe and environmentally responsible operations.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced its third quarter 2024 production results. Key highlights include:

• Quarter-end cash balance of $55 million
• Consolidated gold equivalent production of 20,323 ounces
• Consolidated gold equivalent sales of 21,551 ounces
• Full repayment of the outstanding balance on the revolving credit facility

The company produced 17,844 ounces of gold and 252 tonnes of antimony in Q3 2024. Björkdal mine produced 9,626 ounces of gold, while Costerfield mine produced 8,218 ounces of gold and 252 tonnes of antimony. Despite Q3 being the lowest production quarter, Mandalay expects to meet its full-year production guidance of 90,000 – 100,000 gold equivalent ounces.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) reports high-grade antimony and gold intercepts from drilling at its Costerfield operation in Victoria, Australia. Key highlights include:

1. Extension and infill drilling on Shepherd and Kendall veining with intercepts up to 751.7 g/t gold and 1.8% antimony over 0.22 m.

2. Promising results from drilling under Cuffley, including 550.0 g/t gold over 0.15 m.

3. Potential extension of the Cuffley system to the north with intercepts of 17.1 g/t gold and 0.3% antimony over 1.20 m.

The company focuses on near-mine exploration to extend mine life and leverage existing infrastructure. Drilling has increased confidence in surrounding areas with high-grade mineralization potential, particularly in the Cuffley Deeps and Cuffley North areas.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the resignation of Braam Jonker from its Board of Directors, effective August 30, 2024. Amy Freedman will take over as Lead Independent Director, and the company will begin searching for a new Independent Director. Mandalay, a Canadian-based natural resource company, operates gold mines in Australia (Costerfield) and Sweden (Björkdal). The company focuses on increasing production, reducing costs, and generating positive cash flow while maintaining safe and environmentally responsible operations. Mandalay's main objectives include mining high-grade veins at Costerfield, extending Mineral Reserves, and increasing production from higher-grade areas at Björkdal to maximize profit margins.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) reported strong financial results for Q2 2024, with consolidated revenue up 59% to $63.1 million compared to Q2 2023. The company achieved a cash balance of $62.9 million and a net cash position of $35.8 million. Key highlights include:

- Generated $24.1 million in operating cash flow and $15.6 million in free cash flow
- Consolidated net income of $15.9 million ($0.17 per share)
- Cash operating cost decreased 12% to $1,022 per gold equivalent ounce
- All-in sustaining cost decreased 17% to $1,419 per gold equivalent ounce

Björkdal recorded its highest quarterly revenue of $28.8 million, while Costerfield generated $34.3 million. The company fully repaid its $20 million Revolving Credit Facility balance, leaving it with no debt other than minor equipment leases.

Mandalay Resources (TSX: MND, OTCQB: MNDJF) has announced the release date for its second quarter 2024 financial results. The results will be made public after market close on August 07, 2024, followed by a conference call and webcast on August 08, 2024, at 8:00 AM (Toronto time). Frazer Bourchier, President and CEO, will lead the call for investors and analysts. A replay will be available until August 15, 2024.

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 focuses on growing production, reducing costs, and generating positive cashflow. Its main objectives include mining high-grade veins at Costerfield and increasing production from higher-grade areas at Björkdal.