Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 ganndolphon Oct 27, 2019 8:05pm
203 Views
Post# 30274892

RE:RE:RE:My two CDN pesos worth on the 3Q production

RE:RE:RE:My two CDN pesos worth on the 3Q productionSherry35,

I agree with your number 1 on your list. Based on the last 43-101 report, the 2018 minimum ore grade happened in August 2018, and in 2017 a similar low in ore grade appeared in July of 2017. So I think that they are running the mill on the long term stockpile for one month in summer while everyone seems to be out on holiday.

There are two other explanations to add to your list.

1)  Extra heavy summer rains that may have caused flooding in parts of the underground areas.
The average water pumping rate at Bjorkdal is 85.6 cubic meters per hour and the pumps have a capacity of 180 cubic meters per hour.  So if there was a storm event with heavy rains, that may be a factor to explain the lower production in Q3.

2) The second possiblity is that high grade ore was mined underground but left in place or hauled to the surface and placed in high grade ore stockpiles in anticipation of higher gold prices.

So with early snows returning to northern Sweden over the past week, I expect #1 to be a non issue for Q4, and if they have high grade stockpiles, I would expect a jump in production for Q4.
Bullboard Posts