Mandalay joins the Mining & Crypto Top 20 Source: CanaccordFrom Canaccord’s Morning Coffee today
:MORNING INK REPORT Mandalay Resources joins the Mining & Crypto Top 20 Source: INK Research Company Highlight: Mandalay Resources (MND)
• Junior gold producer Mandalay Resources (MND) has joined the INK Mining & Crypto Top 20 in the #16 spot on our mining list
• The company has two operating mines, the Costerfield gold-antimony mine in Victoria, Australia and the Bjorkdal gold mine in northern Sweden
• The company has issued an option to a third party for the right to acquire its Cerro Bayo silver-gold mine in Patagonia, Chile
• In Q1, the company produced 28,676 gold equivalent (AuEq) ounces, up from 25,677 ounces a year ago, thanks in part to the restart of Cerro Bayo which produced 1,363 ounces
• All-in sustaining costs (AISC) were US$1,212 per ounce produced, up slightly from US$1,191 a year earlier
• Full-year guidance is for the company to produce midpoint 111,000 AuEq ounces at AISC of midpoint US$1,225
• Growing cash flow at the firm has left the stock with a relatively attractive price-to-cash flow valuation of 2.9 according to Refinitiv data
• Generally, relatively low valuations have been a tailwind pushing the stock up our rankings
• Relatively strong price momentum is also helping
• The stock is up 124.2% over the past six months
• Given the robust price action of gold recently and the stock's low valuations, the stage seems set for the stock to potentially make further gains
• Delivering on cost and production guidance will be key to pulling off a winning performance for shareholders
(copied from CEO.CA)