RE:New Press Release - Mandalay Resources Announces Resignation of Board MemberDumps all his shares then quits? That's not a good look.
Dudes been around since 2015, so he's clearly found better investments than MND and has lost all faith in this company's direction.
I managed to listen to the earnings call and it seems like there is absolutely no desire to return capital to the shareholder via buybacks or dividends even though there's a lot of cash in the bank. The next move is clearly to buy a property or another junior mining company (probably a gold/copper play). I would even prefer if they increased their exploration budget but that seems unclear
I still believe they'll overpay for an asset in this bull market but that's not my concern I guess.
And it still looks like they don't fully believe in the gold bull market completely as they've now bought into more gold hedging contracts (this time a gold put contract)
Dominic Duffy will be missed