Mandalay Resources CEO Dominic Duffy joined Steve Darling from Proactive to share news the company has released its financial results for the quarter ended March 31, 2022. Duffy telling Proactive the company in Q1 saw revenue of 54.2 million dollars which was the second highest since Q2 of 2016. The company also had 28.0 million free cash flow1 and $35.5 million in net cash flow from operating activities. The company also is net debt free, with $50.4 million of cash on hand and $45.7 million in total interest-bearing debt outstanding. Duffy also said their asset Costerfield continued with a strong performance as it posted 30.4 million in revenue and $22.9 million in adjusted EBITDA. Björkdal generated production and sales with 23.7 million and $9.4 million in revenue and adjusted EBITDA.
Mandalay Resources sees 2nd highest quarterly revenue since 2016
