MANDALAY RES CORP - MNDJF STOCK NEWS

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.

Mandalay Resources Corporation (MNDJF) reported strong Q3 2021 results, producing 33,121 ounces of gold equivalent, the highest since Q4 2017. The sales reached 29,752 ounces, also a four-year peak. Key highlights include:

• Costerfield produced a record 18,946 ounces.
• Production guidance for 2021 raised to 105,000-117,000 ounces.
• Steady improvement in Björkdal production.

However, delays in shipments due to global logistics challenges may affect Q4 revenues.

Mandalay Resources Corporation announced that Equus Mining Limited has exercised its option to purchase the Cerro Bayo mine in Southern Chile. This transaction, set for completion on December 1, 2021, involves Equus acquiring 100% of the mine in exchange for 19% of its share capital and a 2.25% net smelter royalty on future production above 50,000 ounces of gold equivalent. Equus will also assume half of the approved site closure costs. The deal awaits specific conditions, including Equus shareholder approval.

Mandalay Resources Corporation (MNDJF) announced significant progress in its Costerfield operation, Victoria, with the southern extension of the Shepherd Zone now totaling 500 meters. Recent drilling reveals five distinct veins, including high-grade intercepts of gold and antimony. Notable results include 399 g/t gold over 0.11 m and 155 g/t gold with 10.5% antimony over 0.11 m. The Costerfield Deeps project has also shown visible gold at depths of 998 m and 1,169 m. This mineralization indicates a broader system with promising growth potential in one of the world's highest-grade gold mines.

Mandalay Resources Corporation (MNDJF) announced strong financial results for Q2 2021, reporting revenue of $51.4 million and adjusted EBITDA of $23.1 million. This is a 21% revenue increase compared to Q2 2020, driven by higher gold equivalent sales and improved prices. Adjusted net income reached $11.5 million, marking the sixth consecutive quarter of profitability. The company ended the quarter with a cash balance of $39.1 million and a significant reduction of debt, enhancing its capacity for growth opportunities.

Mandalay Resources Corporation (MNDJF) announced its Q2 2021 financial results release scheduled for August 11, 2021, followed by a conference call on August 12, 2021, at 8:00 AM Toronto time. The conference will be led by President and CEO Dominic Duffy. Participants can access the call via provided toll-free numbers. The company focuses on enhancing production at its Costerfield and Björkdal mines, aiming to create shareholder value through profitable operations and ongoing exploration efforts.

Mandalay Resources Corporation (MNDJF) announced its second quarter 2021 production results, achieving a total of 28,843 ounces of gold equivalent, marking a fourth consecutive quarterly increase. Sales also rose to 28,115 ounces of gold equivalent, the second highest in three years. The company is on track to meet its 2021 production guidance of 105,000 – 117,000 ounces. Notably, Costerfield produced 14,818 ounces, and Björkdal's production remained stable at 10,941 ounces. The CEO acknowledged a solid quarter but also announced the resignation of Chief Development Officer Belinda Labatte.