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 Sherry35on Oct 14, 2018 11:20pm

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Post# 28799208

RE:RE:Cerro Bayo

It has been communicated to me that Cerro has several mines of which two are high grade. One of the veins pointed out by Duffy is under the lake. I believe there are 6 permits: open 4 mines (veins), 1 permit for water and 1 permit for production mining. MND was permiteed for one mine when the flooding occured. They want to open multiple mines this time.

Also, the Sept 2018 investor presentation indicates gold production at Cerro. I suspect the numbers below are for the single mine that flooded.

Cerro Bayo Silver-Gold Mine

Land package

23,106 hectares

Ownership 100%

P&P Reserves 856,000 t @ 284 g/t Ag; 2.34 g/t Au

2016 Production13,792 oz Au, 1,731,031 oz Ag

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