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 ganndolphon Oct 18, 2019 8:48am

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Post# 30243173

RE:RE:RE:Awful production report

Albertan22,

In 2013, when Fosterville was one of three mines that Crocodile Gold owned, the market priced CROCF stock at under 10 cents, so Fosterville was where Costerfield is today in terms of market perception.

Second, at Bjorkdal, why no ore from the Aurora zone if they already have 5 development levels there? Bjorkdal is the ace in the hole, and Duffy didn't play the card this quarter. He plans on playing it next quarter based on the NR.

Third, even at Bjorkdal's lower production level in Q3, I still think that the mine will make a pretax profit of around $2 million USD.

Of course, it is purely a random role of the dice that there would be a quarter of low production at Bjorkdal and a quarter of dismal production at Costerfield.