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Mandalay Resources Corp. T.MND

Alternate Symbol(s):  MNDJF

Mandalay Resources Corporation is a Canada-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Bjorkdal gold mine). The Costerfield operation is located in Victoria, Australia, within the Costerfield mining district, approximately 10 km northeast of the town of Heathcote, Victoria. Youle and Shepherd are the main source of material for Costerfield. The Costerfield operation has a land package of approximately 1,219 hectares. The Bjorkdal operation is located within the Boliden mining district, approximately 28 km northwest of the municipality of Skelleftea and approximately 750 km north of Stockholm. The Bjorkdal mine produces ore from the Aurora zone underground mine, as well as from a stockpile of low-grade material accumulated over the course of its life of mine. The Bjorkdal operation has a land package of around 12,949 hectares. Its non-core properties include Lupin mines (Canada) and La Quebrada (Chile).


TSX:MND - Post by User

Bullboard Posts
Comment by HeyBlinkinon Jun 26, 2014 7:27am
257 Views
Post# 22695813

RE:RE:RE:unimpressed....

RE:RE:RE:unimpressed....I agree that would be impressive.

My guess though is it won't happen until the acquisition of ELG has been completed and then will depend on the price of gold at the time, as that will determine profitablity going forward.

Actually I'm a little surprised the SP is where it is right now, as it means ELG shareholders would be getting a premium for their shares if they take MND shares - 0.4111 x 0.99 = 0.40 which is more than the 0.37 offered in cash for ELG shares (and there's a dilution to consider too if new shares are issued).
SP should be sitting at around 0.90 IMO until this works through
But, my math could be wrong...

Good luck to all.

Bullboard Posts

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