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 ganndolph1on Aug 10, 2020 8:32pm

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Post# 31390361

RE:RE:RE:RE:RE:RE:Target Release Date for Second Quarter 2020 Financial Result

Thales42, My understanding of the gold hedge terms is that half the quarterly hedged gold is sold at $1617 USD and half is forward sold at $2390 AUD. At 75 cent AUD, the average hedged gold price is $1704 USD, and if the Australian dollar keeps rising rapidly, say to 90 cents against the US dollar in Q4, then the average hedged gold price increases to $1889 USD.

At $2000 USD average quarterly gold price, I get a hedging loss of $3.7 million USD for Q3 2020 and $1.38 million USD for Q4 2020.

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