Mandalay Resources Corp. T.MND

Alternate Symbol(s): MNDJF

Metals & Mining Gold

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).

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Mandalay Resources Corp.

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Comment by patbullon Sep 28, 2013 2:55pm

254 Views

Post# 21775661

RE:RE:More Insider Buying

Brad was speaking about $ 80m in next year's ebitda at current metal prices in Denver - this is much more than anybody currently expects. Also this year's gold production at Cerro Bayo should be above latest guidance. Costerfield's recent expansion is not the end there - possibly significant throughput expansion over the next few years.

Stock should continue to perform strongly vs gold and silver peers, EV/EBITDA of 3 is about half the average valuation in the sector.

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