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Mandalay Resources Corporation (Mandalay) is a Canadian-based resource company with producing assets in Australia and Sweden. The company focuses on growing production, reducing costs, and generating positive cash flow. Mandalay is committed to safe operations, environmental responsibility, and community engagement. The company aims to maximize shareholder value through profitable operations, regional exploration, and extending mineral reserves at its Costerfield and Björkdal mines. Current objectives include mining high-grade veins, bringing new deposits online, and maximizing profit margins.
Mandalay Resources Corporation (MNDJF) reported its first quarter 2023 production and sales results on April 18, 2023. The company produced a total of 19,986 ounces of saleable gold equivalent, a significant drop from 29,631 ounces in the same quarter of 2022. Total sales also decreased, with 21,769 ounces of gold equivalent sold compared to 28,280 ounces a year prior. Production issues included lower processed grades at Costerfield and skilled labor shortages impacting output at Björkdal. Despite these challenges, the company maintains its guidance for 2023 production between 105,000 and 118,000 gold equivalent ounces. The average gold price for the quarter was $1,887 per ounce, showing a rise from previous periods.
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