Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors
EPIC: MND
Market: TSX
52-week High/Low: C$0.99 / C$0.28
Sector: General Mining - Gold
Market Cap: C$135.38M
Mandalay Resources Corp.

Mandalay Resources Corp.

Mandalay Resources creates exceptional shareholder value through the acquisition of undervalued assets that can rapidly become cash generative, self fund exploration, establish and maintain high operating margins and return cash to shareholders within a planned period of time. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement. 

Mandalay Resources Corp.

www.mandalayresources.com

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in Mandalay Resources Corp.


Mandalay Resources Corp. Snapshot

Vision:

To create exceptional shareholder value through the acquisition of undervalued assets that can become rapidly cash generative, self fund exploration, establish and maintain high operating margins, and return cash to shareholders.  Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.

Strategy:

Entry Strategy

  • Acquire high-quality assets at a low cost relative to ultimate value
  • Apply management’s extensive operational and exploration expertise to turn around, grow and/or develop the assets
  • Focus on cash returns to shareholders and prudent use of leverage

Operational Strategy

Mandalay is focused on:

  • High-margin projects where we can achieve rapid production ramp-ups from restarts, turnaround situations or late-stage development
  • Early cash flow to fund exploration, growth, and operational improvements
  • Building critical mass through acquisition

Capital Strategy

Reduce dilution and return cash to shareholders:

  • Announced dividend policy, currently paying annualized dividend of 6% of gross revenue*

AUSTRALIA

COSTERFIELD

Mandalay operates the 100%-owned Costerfield gold-antimony mine in Victoria, Australia, having purchased it on December 1, 2009, from Western Coal. The Company restarted capital development and mining immediately, ramping through year-end 2010 to the planned production rate of 5,000 tonnes per month (“t/m”). Significant improvements in mining and processing methods since then has enabled production to grow to the 10,000-12,000 t/m range by early 2013, a level that is sustainable going forward.

 

CHILE

CERRO BAYO

Compañia Minera Cerro Bayo (“Cerro Bayo” or “CMCB”) owns and operates multiple underground silver (“Ag”)-gold (“Au”) mines in the Cerro Bayo district, Region XI, Chile. The mines feed a single conventional flotation plant. Ag-Au concentrate from the plant is sold to smelters in Asia and North America. Cerro Bayo offers Mandalay shareholders exposure to current, low-cost Ag and Au production and exciting exploration potential in one of the best mining jurisdictions in the world.

 

CHALLACOLLO

The 100% owned Challacollo silver-gold project is located in Region I (Tarapaca) of Chile, approximately 130 km southeast of the port city of Iquique at 20° 57’10” S latitude, 69° 21’20” W longitude. The Project comprises 98 individual mining exploitation concessions totalling 20,803 ha, which grant the owner the right to mine. Mandalay Resources Corporation announced its acquisition of Challacollo on December 20, 2013, with final closing completed on February 7, 2014.
 

 

SWEDEN

BJÖRKDAL

Mandalay Resources Corp. acquired 100% interest in the Björkdal (“Birch Valley”) gold mine in September, 2014, when it purchased 100% of Elgin Mining. Björkdal, located in northern Sweden, one of the best mining jurisdictions in the world, produces gold from a combined open pit and underground operation with approximately 60% of plant feed currently delivered from the underground. The plant produces gravity and flotation gold concentrates which are sold to smelters. The acquisition of Björkdal pushes Mandalay into deriving the bulk of its revenues from gold (together with co-product gold production from Costerfield and by-product gold production from Cerro Bayo). Björkdal offers abundant opportunities for optimising both open pit and underground mining, improving processing recoveries, and increasing Mineral Resources, Mineral Reserves, and mine life.

 

 

Board of Directors

Bradford A. Mills
Executive Chairman

Mr. Mills has over 30 years of experience in the resource industry. He is the founder and managing director of Plinian Capital, a private equity firm whose principal business is investment in natural resources projects and companies. Mr. Mills formerly held the position of Chief Executive Officer of Lonmin Plc, the world’s number three platinum and platinum group metals producer. Prior to that, Mr. Mills served as President of BHP Billiton’s copper group. Mr. Mills currently holds directorships with Rambler Metals and Mining, a copper-gold producer, as well as Helio Resource Corp. and West African Minerals, exploration companies focused on gold and iron ore projects in Africa. Mr. Mills is a member of the advisory board to the Stanford University School of Earth, Energy and Environmental Sciences.

Braam Jonker
Lead Independent Director

Mr. Abraham Jonker has more than 20 years of extensive management, accounting and corporate finance experience across 5 continents, mostly in the mining industry. Mr. Jonker currently serves as the Lead Independent Director of the Board of Directors of Mandalay Resources Corp (MND: TSX). Mr. Jonker is also a member of the Board of Directors of Golden Reign Resources. Previously he was the Chief Financial Officer of Western Coal Corp at the time of its take-over by Walter Energy for $3.3 billion. He is a registered Chartered Accountant in British Columbia, (Canada), England and Wales as well as South Africa. He is also a member of the Chartered Institute of Management Accountants in the United Kingdom and holds a Masters degree in South African and International Tax from the Rand Afrikaans University.

Mark Sander
President, Chief Executive Officer, and Director

Dr. Sander holds a PhD in Ore Deposits and Exploration from Stanford University (USA) and has been active in the mineral resource industry for over 25 years in operations, strategy and exploration, with a focus on copper, gold and platinum projects. Prior to joining Mandalay Resources, Dr. Sander’s industry experience included serving as Vice President of Strategy and Planning for BHP Billiton’s copper group.

Rob Doyle
Director (1,2)

Mr. Doyle has over 30 years of experience in all facets of international resource exploration, development and production. Mr. Doyle is a director of Golden Star Resources Ltd. and Detour Gold Corp. He was Chief Executive Officer of Medoro Resources Limited, until October, 2009, and was Executive Vice President prior to that. Previously, Mr. Doyle was Chief Financial Officer of a number of companies including Pacific Stratus Energy Corp., Coalcorp Mining Inc., Bolivar Gold Corp. and HMZ Metals Inc. In addition, he has held a number of financial and executive positions with Falconbridge. Mr. Doyle holds CPA, CA and C.Dir designations and graduated with an HBA in Business Administration from the Ivey School of Business, University of Western Ontario.

[1] Member of Audit Committee

Peter R. Jones, P. Eng
Director (2)

Mr. Jones is a mining executive and Professional Engineer with 40 years of experience in senior operational and project positions at coal, gold, base metal and potash mines. In December 2013, Mr. Jones was appointed as the Executive Vice President of Century Iron Mines Corporation. He is also a Chairman of Augyva Mining Resources and director of Victory Nickel Inc. Previously, he was CEO of Hudson Bay Mining and Smelting Co., Limited (HBMS) for Anglo American, President and CEO of HudBay Minerals and Chairman and CEO of Adanac Molybdenum. Mr. Jones is an advocate of corporate governance and graduated from the Camborne School of Mines, UK and the Banff School of Advanced Management.

Amy Freedman
Director (1)

Amy Freedman is CEO at Kingsdale Advisors, and is a capital markets professional with over 15 years of experience in investment banking, corporate governance, marketing and communications, and transaction management. Ms. Freedman obtained her JD/MBA from the University of Toronto.

 

Senior Management

Mark Sander
President, Chief Executive Officer, and Director

Dr. Sander holds a PhD in Ore Deposits and Exploration from Stanford University (USA) and has been active in the mineral resource industry for over 25 years in operations, strategy and exploration, with a focus on copper, gold and platinum projects. Prior to joining Mandalay Resources, Dr. Sander’s industry experience included serving as Vice President of Strategy and Planning for BHP Billiton’s copper group.

 

Sanjay Swarup
Chief Financial Officer

Mr. Swarup is a principal of Plinian. He holds a Masters of Business Administration from Cranfield School of Management (Bedfordshire, United Kingdom) and is a Chartered Accountant from UK and India with over 20 years of experience in accounting and business consulting, with 10 of those years in the resource industry.

 

Dominic Duffy
Chief Operating Officer

Mr. Duffy holds a B.Eng in Mining Engineering from the University of New South Wales (Sydney, Australia). He has extensive technical and operational management experience, having worked at numerous operations throughout Australia and Latin America. Prior to joining Mandalay Resources, Mr. Duffy most recently worked for Coeur d’Alene Mines and Hecla Mining Company in South America.

 

Belinda Labatte
Chief Development Officer

Ms. Labatte holds an MBA from the Rotman School of Management, University of Toronto and is a CFA charter holder. She has worked with Mandalay Resources in the capacity of Corporate Secretary since 2010. She is the Founder of The Capital Lab Inc. Ms. Labatte has worked on global investor relations advisory mandates, transaction support and implementing corporate responsibility and crisis management strategies within the extractive sector. In 2014, Ms. Labatte was awarded the Professional of the Year Award from the Canadian Investor Relations Institute. She was nominated to the Board of Directors of the PDAC in March 2015.

The Company’s shares trade on the Toronto Stock Exchange (“TSX”) under the ticker symbol MND.

As of June 30, 2017

Shares Outstanding 451.2 million
Warrants Outstanding 0
Stock Options Outstanding 21.9 million
RSUs 0.6 million
Fully Diluted 473.7 million
Mandalay Corporation Number: BC0535791

Office:

Mandalay Resources Corporation

76 Richmond Street East, Suite 330

Toronto, ON

M5C 1P1 CANADA

Investor Relations:

Telephone: 647.260.1566

Email: 

[email protected]

 

LEGAL COUNSEL

Goodmans LLP
333 Bay Street, Suite 3400
Toronto,ON
M5H 2S7

 

TRANSFER AGENT

Computershare Trust Company of Canada
100 University Avenue, 9th Floor
Toronto ON, Canada M5J 2Y1
T: 1 (800) 564-6253

Mandalay Resources Corp. Timeline

Columns Including MND

VIEW ALL

Market Reports Including MND

VIEW ALL
Video RSS

Videos

VIEW ALL VIDEOS

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use