Mandalay Resources Corp. T.MND

The next Fosterville

[ganndolph1]

all,

So, raise your hand if you expected Mandalay Resources to report a Q4 2020 $10 million USD gain from its Australian gold forward hedges? On the conference call, Mr. Duffy stated that they are making $120 USD per ounce on the Costerfield gold hedge which is denominated in Australian dollars--helped by the appreciation of the Australian dollar against the US dollar.

So the main news out of the conference call is that Cerro Bayo plant is being restarted for processiing old mine dumps which should provide enough revenue to pay for care and maintenance at Cerro Bayo plus yield a small profit.  

On Bjorkdal, there are two options for increasing production which are being evaluated.  The ore sorter option and increasing throughput from 1.3 million tons per year to 1.7 million tons per year.

But the big news is that we now know that the recent drilling results at Costerfield show that it is another Fosterville mine at depth, so although the stock made a profit of 17 cents in the most recent quarter, there is much more high grade gold at depth to come.  The second mine, Bjorkdal in Sweden, is a second Fosterville on account of the very high grade gold intercepts discovered in recent drilling. Bjorkdal is a low risk operation in that it processes 1.3 million tons per year of ore through its processing plant achieving a 90 percent recovery without the use of cyanide.  The high grade Aurora gold veins coupled with the high grade gold ore discovered in the Lake Zone should allow Bjorkdal to double gold production on higher gold grades alone. 

So the fact that a Fosterville X 2 stock is trading at $1.60 USD and $2.04 CAD shows that this stock is insanely undervalued. So here is a stock that should be trading at $14 USD per share or $20 CAD per share in Canada that is on sale at a 90 percent discount to fair market value!

[SilentRiver]

My goodness Ganndolph, seeing your post this morning felt like running into an old friend in Walmart. It's good to see you!  I've always valued your comments and your knowledge. This board has been extreamly quiet and I've missed the converations between you Sherry35 and Albertan. I'm still hanging in here, still holding my shares and waiting patiently. Thanks for your input

[AlfTanner]

ganndolph, thank you for recommending Mandalay.  I have done some research on it, and it looks like it has excellent prospects for increasing grades and productions.  It seems to be one of the best value gold stocks I have seen.   I always like your search for value.  Please keep us updated.