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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

Comment by Nick2021on Oct 19, 2021 4:14pm
267 Views
Post# 34024323

RE:Production and Sales Results for the Third Quarter of 2021

RE:Production and Sales Results for the Third Quarter of 2021I feel kind of ambivalent about this report.  On the one hand, good news:

- production is up overall year over year
- Costerfield is firing on all cylinders
- Bjorkdal is doing adequately and steadily
- they have some extra bonus production from Cerro Bayo
- the price of antimony is amazing
- the price of gold is high, and right at the point where MND makes a decent profit and the hedges don't cause too much pain (7 more quarters to go!).

But on the other hand, I feel occasional disquiet about:

- Bjorkdal is simply not producing at the levels expected
- it's not going to come close to making its lower guidance this year
- Bjorkdal's high-grade underground ore is not, apparently, working out
- I haven't heard a discussion of what's going wrong
- Cerro Bayo only has 6 more weeks in it for Mandalay
- it really sucks that Bjorkdal couldn't even hit lower guidance this year.
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