Mandalay Resources Corporation
Mandalay Resources Corporation
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Mandalay Resources has had a tough Mar 2022 qtr (Q1 22), with its consolidated net income falling to $US10.48M from Q1 21’s $15.33M and adjusted net income to $13.88M from $21.99M on revenue plunging to $54.15M from $72.9M and adjusted EBITDA to $31.3M from $40.64M.
Gold equivalent production from Mandalay Resources’ Swedish and Australia operations have fallen to 28,280oz AuEq in the 1st qtr 2022 (Q1 22) from Q4 21’s 38,904oz, with gold output down to 24,383oz from 28,570oz.
The result was on gold production from Björkdal, in Sweden, up to 12,134oz from 10,749oz, the highest qtrly production result since Q2 19, with gold sold the highest there since Q3 19. Costerfield, Australia, gold production fell to 12,249oz from 17,057oz.
FY/CY 21 profit jump on a new gold stream and a continued strong performance from Costerfield, Australia, sees Mandalay well on track for 2022
Sweden, Australia and Chile miner Mandalay Resources’ June 2021 qtr (Q2 21) consolidated net income has plunged to $US4.79M from Q1 21’s $25.5M, but with adjusted net income up to $11.47M from $5.64M on saleable gold equivalent production up to 28,843oz AuEq from 28,676oz, its 4th consecutive qtr of increased production. Total gold output fell to 22,707oz from 23,661oz.
Mandalay Resources has lifted June 2021 qtr (Q2 21) saleable gold equivalent production to 28,843oz AuEq from Q1 21’s 28,676oz, its 4th consecutive qtr of increased production, putting the company firmly on track to meet FY/CY 21 guidance of 105,000oz-117,000oz AuEq.
Mandalay Resources has lifted Mar 2021 qtr (Q1 21) net income to $US25.5M from Q4 20’s 14.72M, but with adjusted net income more than halved to $5.64M from $12.06M, on revenue up to $52.57M from $45.32M, primarily on the sale of 5,437oz more gold equivalent and a higher realized price.
The cost of sales jumped to $25.41M from $18.79M, adjusted EBITDA moved up a little to $26.06M from $25.34M and income from mine ops pre depreciation/depletion was also up to $27.15M from $26.52M.
Mandalay Resources has had a relatively good Mar 21 qtr (Q1 21) with total gold equiv production up to 28,676oz from Q4 20’s 27,351oz, but with gold production slipping to 23,661oz from 24,488oz.
Mandalay Resources has racked up a few milestones in the Sept 2020 qtr (Q3 20), lifting adjusted net income to $US9.82M from Q2 20’s $7.6M and consolidated net income to $635,000 from a $3M loss.
Revenue jumped to $49.7M, the highest since Q2 2016, from $42.3M, with adjusted EBITDA to $26.7M, the 2nd highest in the company’s history, from $21.27M. Income from mine ops before depreciation, depletion was also up to $28.3M from $22.6M.
Mandalay Resources has lifted Sept 2020 qtr (Q3 20) gold production from its Australian/Swedish operations to 22,793oz from Q2 20’s 21,603oz, the company’s best qtr since Q4 2017, with antimony up to 991t from 946t.
The result took gold equiv production to 25,664oz AuEq from 24,752oz and AuEq sales to 26,001oz, the highest since Q1 2018.
Sweden’s Björkdal mine saw gold output ease to 11,044oz from 11,250oz, offset by Costerfield, in Australia, up to 11,749oz from 10,353oz.
Mandalay Resources’ June 2020 qtr (Q2 20) gold equiv production from its Australian/Swedish operations eased to 24,752oz AuEq from Q1 20’s 25,677oz, but with sales up to 24,916oz from 24,276oz.
The result was on total gold production up a little to 21,603oz from 21,370oz, but antimony slid to 946t from a record 1,108t. Gold output from the Björkdal operation in Sweden rose to 11,250oz from 10,750oz, with Costerfield, in Victoria, Australia, easing to 10,353oz from 10,620oz and all of antimony.