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Mandalay Resources Corp.

Mandalay Resources unveils positive Q4 figures

Record production in its fourth quarter helped gold and silver miner Mandalay Resources (TSE:MND) lift fourth quarter profits despite weak prices for both metals.In the three months to December 2014 revenues rose by 71% to US$67m from a year earlier, underlying profit was up by 55% to US$21.5m and net profit rose by 71% to US$7.6m. The company's president Mark Sanders tells Proactiveinvestors about some very positive reserve announcements from operations in Bjokdal Sweden, Cerro Bayo in Chile and the Australia Costerfield property. Mandalay Resources' fortunes are in stark contrast to the rest of the junior miners. Despite weakness in gold and silver prices, Mandalay has been working hard to push its cash costs down to record lows and improve margins to pay dividends

Quick facts: Mandalay Resources Corp.

Price: $1.29

Market: TSX
Market Cap: $117.45 m
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Mandalay Resources looks to hit 'top end' of the raised earnings' guidance

Brad Mills, CEO of Mandalay Resources (TSE:MND), tells Proactiveinvestors that, despite lower gold and silver prices, the company is able to meet the increased earnings guidance for the full year. Brad points investors to the Q3 numbers due shortly that will show the progress that the company is...

on 22/10/13

2 min read

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