Mandalay Resources Corp. T.MND

Strong Second Quarter 2024 Production and Cash Generation

[Lowcapmocap]

https://www.prnewswire.com/sv/pressmeddelanden/mandalay-resources-reports-another-excellent-period-with-strong-second-quarter-2024-production-and-cash-generation-results-302193931.html

Second Quarter Highlights:

 

Quarter-end cash balance was $63 million, an increase of $16 million from the previous quarter;

Consolidated gold equivalent production of 26,372 ounces;

Costerfield production increased to 13,773 gold equivalent ounces, 32% higher than Q2 2023;

Bjrkdal production increased to 12,599 gold ounces, 21% higher than Q2 2023 and highest since Q2 2019;  

Consolidated gold equivalent sold was 26,759 ounces, 32% higher than Q2 2023;

Costerfield sold 14,439 gold equivalent ounces, 40% higher than Q2 2023;

Bjrkdal sold 12,320 gold ounces, 24% higher than Q2 2023, and highest since Q3 2019.

Based on its strong quarter-end cash position and ongoing cash flow expectations, Mandalay repaid the entire outstanding balance ($20 million) of its Revolving Credit Facility in July 2024. As a result, Mandalay currently has no indebtedness other than obligations under equipment loan facilities and $35 million in undrawn availability under its Revolving Credit Facility.

[Lowcapmocap]

A Solid quarter. A shame they are hedged moving forward for a year because I knew this was the true potential of this company earnings but regardless if gold keeps running this stock should be re-rated soon in a very sharp move. C Clearing the debt was a solid move, now they just need to drop the merger nonsense and they'll be heading in the right direction.

[the_ocotillo]

I could be wrong but I remember reading in the 1Q MDA that they were "rolling forward" the April, May, and June gold derivative contracts to the 1Q of 2025. That is 7,500 ounces of gold that they were able to realize this quarter at market prices which will be a huge help when they release the earnings for this quarter. Wish they never would have entered into stupid hedging but they

[Lowcapmocap]

Yeah the hedging will finish restart and end in March 2025. It's why I ended up dropping my position in this company. As we have just seen without hedges this company could have justified paying dividends again right now.  I really hope they drop the stupid M&A idea.

[Lowcapmocap]

*hedging will restart 

[Golder007]

good that you dropped your position. people with your limited foresight should not invest. M&A is a great idea and will grow the company and dividends are a bad idea for any small mining co

[Lowcapmocap]

No. I'm not going to waste my time giving you a proper response as I suspect you haven't been following this forum long enough to know my reasoning. Foresight allowed me buy into something that has outperformed this stock 5x plus YTD.  Try again you short bus riding clown